BBVA to Launch Second Tranche of €1 Billion of its Share Buyback Program
BBVA is set to resume on March 23 the execution of the extraordinary share buyback program of up to €3.96 billion that it announced on December 19¹. Following the completion of a first tranche of €1.5 billion, it will now begin executing the second tranche for an amount of up to €1 billion.
This second tranche will end once the maximum monetary amount (€1 billion) has been reached or the maximum number of shares (482,353,131) has been acquired. The shares being repurchased will be used to reduce BBVA’s share capital through their cancellation.
Citigroup Global Markets Europe AG will be responsible for carrying out the purchases, for a total of 3 million shares per day, on the Spanish electronic trading system - Continuous Market and on the trading platforms of Cboe Europe, Turquoise Europe and Aquis Exchange.
Share buybacks are one of the ways companies and financial institutions return capital to shareholders. In BBVA’s case, the bank maintains a strong capital base that allows it to continue growing robustly and to sustain attractive shareholder returns, both through its ordinary policy and through its commitment to distribute any excess capital above the upper end of its CET1 target range (12 percent)².
BBVA’s share buyback track record
In addition to the €3.96 billion extraordinary program currently underway, a total of five share buyback programs have been implemented to date, two of them extraordinary (€3.16 billion between 2021 and 2022 and €1 billion in 2023) and three as part of ordinary shareholder remuneration (€422 million against 2022 earnings, €781 million against 2023 earnings and €993 million against 2024 earnings).
These programs have significantly reduced the number of outstanding shares, with a positive effect on BBVA’s shareholder returns over time, as well as on earnings per share (EPS). Specifically, in 2025, while attributable profit grew by 4.5 percent, EPS increased by 5.8 percent.