BCP launches share buyback worth up to €407.5 million

Portugal’s BCP said on Wednesday it will launch a new share buyback programme worth up to €407.5 million, starting on June 4 and running until December 4, a move equivalent to about 2.84% of the bank’s market capitalisation.

In a statement published on the website of CMVM, Portugal’s securities market regulator, the bank said it may repurchase up to 1.184 billion ordinary shares, or as much as 8% of its share capital. The purchase price range was set at the May 7 shareholders’ meeting, within a band of 15% below or above the lowest traded price and the average price.

BCP, led by chief executive Miguel Maya, appointed JPMorgan as financial intermediary for the operation. The bank also said the programme could end early if BCP decides to stop it or if the maximum number of shares or maximum amount is reached before the deadline.

In 2025, BCP spent about €200 million buying back 309 million of its own shares, representing 2.05% of its share capital. That programme had also been scheduled to run for six months, from April to October, but ended early in August.

Originally published at Eco.pt