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Banco Pine launches new share repurchase program

Banco Pine SA said its board unanimously approved a new share repurchase program for up to 500,000 preferred shares.

Shares repurchased under the program will be held in treasury and subsequently sold without causing a reduction in the company's capital stock, according to a Jan. 18 filing.

Additionally, the bank noted that it bought back 404,200 preferred shares under an earlier repurchase program for up to 500,000 shares launched in January 2016.