BBVA reported a net profit of 9.066 billion euros between January and September 2026, representing a 13.6% increase in current euros compared to the same period last year. In constant euros, that is, excluding the effect of currencies, the increase was 11.4%. The earnings per share grew by 17.5% in current euros, also driven by the share buybacks carried out over the last twelve months.
Only in the third quarter, the net profit reached 3.015 billion euros, a 19.1% increase year-on-year in current euros. Compared to the second quarter, the result decreased by 1.5% in current euros. The RoTE was at 22% and the ROE at 20.8%, while the efficiency ratio closed September at 37.9%.
The credit activity maintained a strong dynamism, according to the bank. The loans to customers increased by 20.4% year-on-year in constant euros, as specified by BBVA. In Spain, credit grew by 7.3% and in Mexico by 12%, also in constant euros, over the last twelve months.
Income grows at double digits
The interest margin reached 23.243 billion euros by September, representing a 20.8% increase in current euros. The net commissions stood at 6.909 billion, up 13.8%, while the financial operations result (ROF) rose to 2.093 billion, an increase of 6.7%.
The gross margin increased by 18.2%, to 32.072 billion euros, while operating expenses grew by 17.4%, to 12.168 billion. As a result, the net margin reached 19.903 billion, an 18.6% increase in current euros.
Losses from impairment of financial assets increased by 25.8%, to 5.444 billion euros. The profit before tax stood at 14.325 billion, a 16.5% increase, while the income tax rose by 21.4%, to 4.653 billion. All these variations correspond to current euros, according to the results table published by BBVA.
Risk indicators remained stable. The cumulative cost of risk since January was at 1.44%, the non-performing loan ratio at 2.6%, and the coverage ratio at 84%.
The CET1 capital ratio was at 12.21% at the end of September, above the entity's target range, set between 11.5% and 12%.
Dividend and share buyback
BBVA paid on 15 October a dividend of 0.37 euros gross per share against the results of 2026. The amount is nearly 16% higher than that of 2025 and represents the highest interim dividend in the bank's history.
In addition, the extraordinary share buyback programme for 2.000 billion euros has been initiated. BBVA has already completed a first tranche of 1.000 billion and has started the second, for another 1.000 billion.
The tangible book value per share plus dividends reached 10.92 euros, a 19.9% year-on-year increase, excluding the share buybacks executed over the last twelve months.
3.106 billion euros profit in Spain
By business areas, Spain reported a net profit of 3.106 billion euros by September. The credit activity grew by 7.3% year-on-year in constant euros, driven by the corporate segments and consumer credit and cards.
Mexico contributed 4.522 billion euros of net profit, while its credit investment increased by 12% year-on-year in constant euros. The interest margin recorded an 8.5% growth.
In Turkey, the net profit reached 789 million euros, a 21.8% increase year-on-year in current euros. In South America, the result was 821 million, a 42.1% increase in current euros, while Other Businesses contributed 801 million.
BBVA's CEO, Onur Genç, highlighted that the group has achieved "excellent results" and emphasised its ability to combine growth and profitability. "Our credit portfolio has grown more than 20% in the last year, well above our European competitors. And we maintain a profitability of 22%, the highest in Europe," he stated.