Erste Group Bank's Buyback of Up to $545.2 Million Cleared by ECB
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Dow Jones
By David Sachs
Erste Group Bank plans to launch a buyback program of up to 500 million euros ($545.2 million) in the upcoming months.
The Vienna-based bank said late Tuesday that it received permission from the European central Bank to pursue the program, which executives had previously said was a goal for this year. The program still requires approval from the supervisory board.
Erste plans to cancel its own shares after the buybacks conclude, it said.
Write to David Sachs at david.sachs@wsj.com
(END) Dow Jones Newswires
June 04, 2024 13:05 ET (17:05 GMT)
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