Deutsche Bank to buy back up to $497 million in shares

FRANKFURT (Reuters) -Deutsche Bank signalled a more positive outlook on Tuesday, saying it would undertake a 450 million euro ($497 million) share buyback this year.

The measure, larger than last year’s buyback of 300 million euros, reflects the improved financial state of Germany’s largest lender.

The bank had previously flagged that it would aim for a buyback during the second half of this year.

The announcement of the buyback, which will begin in August, comes ahead of quarterly earnings on Wednesday.

($1 = 0.9059 euro)