Banco Sabadell has already bought back 40% of its own shares programme
Banco Sabadell has repurchased own shares since 3 July for 81.8 million euros, a figure that represents 40.11% of the maximum amount to be allocated to this programme, as reported Monday by the financial institution to the CNMV, the stock market supervisor.
On 30 June, the bank announced the start of a share buyback programme for a maximum of 204 million euros until 2 February 2024 at the latest, following approval of the operation by the shareholders’ meeting in March.
This share buyback programme, with a view to redeeming shares, is limited to 10% of the share capital, as approved by the shareholders’ meeting.
Banco Sabadell’s first half results
Banco Sabadell closed the first half of the year with a profit of 564 million euros, 43.6% more than in the first half of 2022, driven by the rise in interest rates and improved banking margins, and expects to close the year with profits of more than 1,000 million, which would be a record.
The bank is heading towards a historic year, as the best result in the bank’s history dates back to 2006, with 908 million in profits, and this year 2023 is on track to surpass it.
The CEO, César González-Bueno, said that “the strategic lines of the plan we launched two years ago are undoubtedly bearing fruit. We have a well-defined and stable perimeter, all the business units are now profitable, we have laid the foundations for the transformation of the business, and all this with a dedicated and well-cohesive team. This effort is again reflected in good results at the end of June.
