BNP Paribas launches €900 million share buyback program
The French international banking group BNP Paribas launches €900 million share buyback program on the strength of its confirmed growth potential and solid balance sheet and performances.
The share buyback program will be carried out in accordance with the provisions set out in the EU
Regulation of the European Parliament and of the Council of April, 16th 2014 on market abuse
and its implementing provisions, and within the limits of the general authorisation granted to
BNP Paribas to purchase shares on the market pursuant to the 5th resolution adopted by the
General Meeting of BNP Paribas on May 18th, 2021.
The bank’s bottom-line was helped by lower loan-loss provisions
which came in at €706m, down from €1.25bn in the same period a year ago, when banks were still preparing for potentially huge losses on loans to consumers and businesses due to the pandemic.
The General Meeting has authorised the Board of Directors to purchase a number of shares representing up to 10% of the shares comprising the share capital of BNP Paribas, or, for illustrative purposes, as of July 19th 2018, the date on which the share capital was last recorded, a maximum of 124,979,856 shares.
Based on a maximum repurchase price of EUR 73 per share, set by the fifth resolution approved by the General Meeting dated May 18th, 2021, this number of shares represents a theoretical maximum purchase amount of EUR 9,123,529,488. Such limit is likely to change in case of transactions affecting the share capital.