On share buybacks, BofA leads US banks with $28bn splurge

Bank of America spent the most capital to buy back its own shares out of the too-big-to-fail US banks in 2019, Risk Quantum analysis shows.

The eight global systemically important banks (G-Sibs) collectively spent $107.5 billion purchasing their own common stock last year; an increase of 28% on 2018.

Bank of America spent $28.1 billion, 40% more than in 2018. JP Morgan came second, spending $24.1 billion (20.7% more than in 2018), followed by Wells Fargo with $21.7 billion (22%), Citi with $17

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