BNP Paribas Receives Approval for 2.5 Billion Euro Share Buyback Program, Second Tranche to Begin in August

BNP Paribas Receives Approval for 2.5 Billion Euro Share Buyback Program, Second Tranche to Begin in August

(IN BRIEF) BNP Paribas has received approval from the European Central Bank for the second tranche of its 2023 share buyback program, totaling 2.5 billion euros. The first tranche of the program, also worth 2.5 billion euros, was launched in April 2023 and will conclude by August 3rd, 2023. Following the completion of the first tranche, BNP Paribas will initiate the execution of the second tranche in early August. With this, the total amount allocated for the 2023 share buyback program will be 5 billion euros, and the acquired shares will be canceled. BNP Paribas is a prominent bank in the European Union, operating in numerous countries and serving various sectors, including commercial, personal banking, and institutional clients.

(PRESS RELEASE) PARIS, 28-Jul-2023 — /EuropaWire/ — The approval from the European Central Bank for the second tranche of the share buyback programme planned for 2023 for an amount of 2.5 billion euros has been received.

The first tranche of 2.5 billion euros of the 2023 share buyback programme was launched on April 3rd, 2023 and will end no later than August 3rd, 2023.

BNP Paribas will launch the execution of the second tranche in the days following the completion of the 1st tranche, beginning of August. The completion of the second tranche will bring the total amount for the 2023 share buyback programme to 5 billion euros as announced on February 7th, 2023. Shares acquired under the share repurchase programme will be cancelled.

About BNP Paribas

BNP Paribas is the European Union’s leading bank and key player in international banking. It operates in 65 countries and has nearly 185,000 employees, including more than 145,000 in Europe. The Group has key positions in its three main fields of activity: Commercial, Personal Banking & Services for the Group’s commercial & personal banking and several specialised businesses including BNP Paribas Personal Finance and Arval; Investment & Protection Services for savings, investment and protection solutions; and Corporate & Institutional Banking, focused on corporate and institutional clients. Based on its strong diversified and integrated model, the Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realise their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, BNP Paribas has four domestic markets: Belgium, France, Italy and Luxembourg. The Group is rolling out its integrated commercial & personal banking model across several Mediterranean countries, Turkey, and Eastern Europe. As a key player in international banking, the Group has leading platforms and business lines in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific. BNP Paribas has implemented a Corporate Social Responsibility approach in all its activities, enabling it to contribute to the construction of a sustainable future, while ensuring the Group’s performance and stability.

Media Contacts:

Sandrine Romano
sandrine.romano@bnpparibas.com
+33 (0)6 71 18 23 05

Hacina Habchi
hacina.habchi@bnpparibas.com
+33 (0)7 61 97 65 20

SOURCE: BNP Paribas