BBVA nine-month profit rises 13.6% to 9,066 million euros on lending and fees

Nine-month profit

BBVA reported a net attributable profit of 9,066 million euros for the first nine months of 2026, 13.6% higher than in the same period a year earlier, according to a statement the bank sent to Spain's securities regulator, the CNMV. Earnings per share grew faster, by 17.5%, because of share buybacks carried out over the previous 12 months. The bank said lending rose 20.4% at constant exchange rates over the year. Return on tangible equity (ROTE) reached 22%, up from 19.6% a year earlier, while the efficiency ratio improved to 37.9% and the CET1 capital ratio stood at 12.21%.

Revenue and costs

The gross margin, the bank's total revenue, reached 32,072 million euros, up 18.2% at current exchange rates. Net interest income rose 20.8% to 23,243 million euros, while net fees and commissions climbed 13.8% to 6,909 million. Financial operations added 2,093 million euros, a 6.7% increase.

Net interest income23,243

Net fees and commissions6,909

Financial operations2,093

Net interest income

23243 million euros

Net fees and commissions

6909 million euros

Financial operations

2093 million euros

Data from the article text

Operating expenses rose 17.4%, with staff costs up 17.7% to 6,580 million euros and other administrative expenses up 18.7% to 4,320 million. Depreciation charged 1,268 million euros to the income statement, up 12.4%. The bank said the growth in its interest margin offset the rise in costs and in impairment charges on financial assets, which grew 25.8% to 5,444 million euros in a context of credit growth. Provisions fell 43% to 132 million euros, and the net margin reached 19,903 million euros, up 18.6%.

Third-quarter figures differ between reports

The third-quarter figures vary between outlets. La Razón and El Mundo put net profit for July to September at 3,029 million euros, up 14.4%, with the gross margin at 10,982 million euros, up 15.7%. Bloomberg reported third-quarter profit of 3.02 billion euros, which beat analysts' estimates, helped by higher interest income and fees. El Confidencial gave a figure of 3,015 million euros, up 19.1% on a year earlier but down 1.5% from the second quarter.

Spain and Mexico

In Spain, profit fell 0.2% to 3,106 million euros over the nine months, while total revenue rose 2.2% to 7,601 million euros and net interest income rose 3.4% to 5,055 million euros. Staff costs in Spain increased 8% to 1,418 million euros. According to La Vanguardia, the bank paid 225 million euros under the temporary tax on interest and commission margins introduced by the government. Lending in Spain grew 7%, with consumer credit and cards among the strongest businesses. Most of the earnings growth came from outside Spain, and Mexico is named alongside Spain as leading the results.

Group9,066

Spain3,106

Group

9066 million euros

Spain

3106 million euros

Data from the article text

Strategy and artificial intelligence

Chief executive Onur Genç called the results excellent in a statement issued to markets.

“We have achieved excellent results. With a profile that improves year after year, we continue to demonstrate our unique ability to combine growth and profitability.”

The bank is executing its 2025-2029 strategic plan, which puts emphasis on artificial intelligence. In the third quarter it launched The Frame, a bank-wide programme to transform its operating model and work with AI agents at scale. Genç said the bank was already seeing concrete results from the technology.

“We are already seeing concrete results that show the enormous capacity of this technology to improve the customer experience, streamline processes and increase team productivity.”

Genç also said the loan portfolio had grown more than 20% over the past year and that the bank's contribution to society through credit had risen 70% since 2020.