Bank of Ireland Group has today started its €125m share buyback programme that was announced at the time of its full year results in March.
The programme is due to be completed by the end of June.
Bank of Ireland said today that regulatory approval has been obtained for the sharebuyback programme.
The lender announced distributions of €350m in March, split between a €225m ordinary dividend and a €125m buyback.
"Bank of Ireland Group investors will undoubtedly be pleased to learn this morning that the company is now forging ahead with the buyback programme," the bank said in a statement this morning.
In March, Bank of Ireland reported €1.2 billion in underlying profit before tax for the year to the end of December as it grew its customer base by over 11% after what it called the "transformational acquisitions" of Davy Stockbrokers and the €7.8 billion KBC Bank Ireland portfolios.
Bank of Ireland shares were higher in Dublin trade today.
