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Fifth Third Bancorp to repurchase $913M of its common shares

Cincinnati-based Fifth Third Bancorp entered into an agreement with JPMorgan Chase Bank NA London Branch under which it will repurchase $913 million of its outstanding common shares.

The repurchase plan will take effect when Fifth Third Bancorp completes its acquisition of Chicago-based MB Financial Inc. The Cincinnati-based company will repurchase the shares under its repurchase plan authorized in February 2018 for up to 100 million of its common shares.