(Alliance News) - Banco di Desio e della Brianza Spa announced Tuesday that the board has submitted to shareholders a proposal to authorize the purchase of up to 4.0 million of its own ordinary shares, equivalent to 3 percent of its share capital.

For the plan, which will last for a maximum of 18 months after approval by the shareholders' meeting, the bank will be able to shell out a maximum of EUR20.2 million.

Banco di Desio e della Brianza's stock closed Tuesday up 0.9 percent at EUR4.30 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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