Erste Group Bank AG (WBAG:EBS) commences share repurchases on August 16, 2023, under the program mandated by the shareholders in the Annual General Meeting held on May 12, 2023. As per the mandate, the company is authorized to repurchase own shares of up to 10% of the share capital. The consideration may not be less than half of the closing price on the Vienna Stock Exchange on the last trading day prior to the acquisition and may not exceed the closing price on the Vienna Stock Exchange by more than 20% on the last trading day prior to the acquisition. The program will run over a period of 30 months from the date of Annual General Meeting and will expire on November 12, 2025.

On August 1, 2023, the company announced a share repurchase program after receiving the European Central Bank approval. Under the program, the company will repurchase up to ?300 million worth of its bearer shares. The repurchased shares will be cancelled. The program is subject to the consent of the Supervisory Board.

On August 9, 2023, the company received the consent from its Supervisory Board. The program is run valid from August 16, 2023 to June 29, 2024.