By Joshua Kirby

Intesa Sanpaolo SpA said Monday that it will repurchase 1.7 billion euros ($1.84 billion) worth of its own shares, the second tranche in a EUR3.4 billion buyback launched last year.

The Italian lender will buy back the shares from next week and until May 12. The move follows an initial tranche in the buyback, also totaling EUR1.7 billion, that Intesa Sanpaolo carried out between July and October last year.

Shares in the bank closed Monday up 2.7% at EUR2.45.

Write to Joshua Kirby at joshua.kirby@wsj.com; @joshualeokirby

(END) Dow Jones Newswires

February 06, 2023 12:29 ET (17:29 GMT)

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