(Alliance News) - Intesa Sanpaolo Spa announced Monday that a EUR1.7 billion buyback program, already authorized by the European Central Bank and approved by shareholders, will be launched on June 3.

The bank will be able to buy back up to a maximum of 1.00 billion of its own ordinary shares, and the plan will end by October 25, 2024.

Intesa Sanpaolo's stock closed Monday up 0.4 percent at EUR3.56 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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