Alphavalue/DIVACONS | The financial institution has approved a buyback plan of up to €3.96 billion, to be executed in several phases. The bank, which had already announced that it would distribute its excess capital after the takeover bid for Banco Sabadell fell through (add Target Price €4.15/share), will consume 100 solvency points with the operation.
It will be carried out in stages and will begin on Monday 22 December. The limit on the number of shares to be repurchased is 557.3 million.
Meanwhile, BBVA reached €42.13 billion under management in its high net worth segment in October, representing growth of 38% in two years and an increase in its customer base to 12,188, backed by a 26% increase in its team of specialist bankers.
BBVA: Reduce, Target Price €19.4 per share.
