By Kim Richters

Intesa Sanpaolo SpA said late Friday that it is launching its previously approved share-repurchase program with an initial buyback valued at 1.7 billion euros ($1.79 billion).

The Italian bank said it will buy back shares between July 4 and the end of October. The buyback is part of a program for up to EUR3.4 billion approved at the shareholders' meeting in April, Intesa said.

The bank said it will "defer to a subsequent date, by the time the results as at 31 December 2022 are approved, the decisions regarding the execution for the remaining authorized amount."

Write to Kim Richters at kim.richters@wsj.com

(END) Dow Jones Newswires

June 27, 2022 01:43 ET (05:43 GMT)

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