Lloyds Banking Group says starts share buyback programme

FILE PHOTO: Customers use ATMs at a branch of Lloyds Bank in London, Britain, February 21, 2017. REUTERS/Toby Melville/File Photo

LONDON (Reuters) – Lloyds Banking Group said on Friday it had started a previously announced share buyback programme worth up to 1.75 billion pounds of ordinary shares.

The buyback would end no later than Dec. 31, 2019, the bank said in a statement.

“The sole purpose of the programme is to reduce the ordinary share capital of the company,” Lloyds said.

(Reporting by Huw Jones; editing by Simon Jessop)

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