The board of shipping lender Credit Suisse has authorised a huge CHF 1.5bn ($1.52bn) share buyback.
This year it expects to spend CHF 1bn of that total, subject to market and economic conditions, the bank said.
It will buy stock on the SIX Swiss Exchange.
"The repurchased shares are expected to be cancelled by means of a capital reduction to be proposed at a future annual general meeting of shareholders," it added.
