Banco Santander (ES:SAN) has released an update.
Banco Santander has initiated a share buyback program, committing approximately €1.525 billion, equivalent to roughly 25% of the Group’s ordinary profit for the first half of 2024. The program, authorized by regulatory bodies and shareholders, aims to reduce the bank’s share capital by purchasing a maximum of 1,481,224,550 shares at a price not exceeding the tangible net asset value per share. Scheduled to run until January 3, 2025, the bank reserves the right to adjust or terminate the program based on market conditions or if the maximum monetary amount is reached.
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