European Financials & FinTech: European Financials Buyback Tracker

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European Financials & FinTech: European Financials Buyback Tracker

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09 Jul 2026 21:38:43 ET │ 18 pages

European Financials & FinTech

European Financials Buyback Tracker

CITI'S TAKE

Andrew Coombs, CFA AC

We highlight latest buyback announcements, the percentage of market cap, +44-20-7986-4053

and amount of trading ADV these account for. We then observe how much andrew.coombs@citi.com

is outstanding which helps us project when this technical support factor is

set to end for each stock. Names where buybacks provide most technical Rajkumar Choudhary

support include Amundi, GBL, Sabadell, Santander, Quilter and 3i. +91-22-4277-5083

Sabadell, SEBa and UBS buyback programs are set to end imminently and raj.kumar.choudhary@citi.com

later in the month for Quilter. BBVA, Legal & General and Santander

buyback programs are likely to end early next month. European Banks Team

Canberk Benning

What’s New? — Since our last monthly publication, Aegon & Quilter (first tranche),

Aviva, Barclays, LSEG and STAN have all completed their respective buybacks. Guru Prasad Chowdhary

Aegon & Quilter (second tranche), EQT, and Prudential launched their previously

Anand Dembleannounced buybacks; while AJ Bell announced a new buyback program which is yet

to commence. With 2Q26 results we see potential for positive surprise on buybacks Simon Nellis

at Commerzbank, HSBC, Lloyds & SocGen.

Andre Nemec

Banks – We expect banks to return significant capital to shareholders, with a

projected €95bn in dividends and €53bn in buybacks, equivalent to an all-in yield Saifur Rahman

of c.6.2% (~77% payout ratio). Notably, Sabadell, Deutsche Bank, Danske, and AIB

Borja Ramirez Seguraare offering the highest yields, all exceeding 9%. Stocks where buybacks currently