BBVA posts record €6.05 billion first-half profit, up 11%, and launches €2 billion share buyback

BBVA reported a record attributable profit of €6.051 billion for the first half of 2026, an 11.1% increase from the same period in 2025 at current exchange rates (10% at constant rates). Gross income reached €21.159 billion, up 17.3% year-on-year. The bank attributed the performance to strong recurring revenue and dynamic lending activity.

Record profit and revenue surge

Net interest income surged 20.3% to €15.164 billion, while net fees and commissions rose 14% to €4.572 billion, driven by payment services, asset management, and a higher contribution from wholesale banking. The group's net margin climbed 16.2% to €13.159 billion.

CEO Onur Genç said the results were outstanding and marked the first time profit exceeded €6 billion.

In the first half of 2026 we achieved outstanding results: attributable profit exceeded €6 billion for the first time, with great dynamism in activity. In fact, our loan portfolio has grown more than 60% since the end of 2020; an increase far superior to that of our competitors, which positions us as the fastest-growing bank in Europe.

Loan growth and market share

The loan portfolio expanded 17.7% at constant euros, driven by corporate and consumer segments. In Spain, lending grew 7.4%, and in Mexico, 9.9%. Market share reached 14.15% in Spain and 26.17% in Mexico. Genç highlighted that the loan book has grown over 60% since the end of 2020, outpacing competitors and cementing BBVA's position as Europe's fastest-growing bank.

Regional performance

Mexico contributed 44.1% of attributable profit, Spain 32.2%, and South America together with other businesses the remainder. Turkey and South America were singled out for particularly strong momentum, alongside Mexico.

Capital strength and shareholder returns

Return on tangible equity (ROTE) reached 22.2%, and return on equity (ROE) stood at 21.1%. The CET1 capital ratio was 12.9%, comfortably above regulatory requirements and the bank's own target range. Total assets approached €1 trillion.

BBVA announced a new extraordinary share buyback program of €2 billion, to be executed in two tranches. The first €1 billion tranche will begin on 5 August 2026, following regulatory approval. Genç noted that the strong profitability translates into greater value creation for shareholders, with tangible book value per share plus dividends growing nearly 22% year-on-year.

The figures were accompanied by excellent profitability levels, above 22%. Our strength translates into greater value creation for our shareholders: tangible value per share plus dividends grew close to 22% also year-on-year.

AI as a growth lever

Genç also pointed to artificial intelligence as a transformative force for the bank, describing it as a huge opportunity to revolutionize banking. He stressed that with security, trust, and the human factor, AI will enable BBVA to grow and improve customer service.