Banco Bilbao Vizcaya Argentaria, S.A. (NYSE:BBVA) filed a Form 6-K on October 29, 2026, reporting a record net attributable profit of €9.07 billion for the first nine months of 2026, alongside a 20.4 percent year-over-year increase in customer lending in constant euros.

Key Highlights

  • Record nine-month profit: Net attributable profit reached €9.07 billion for January through September 2026, up 13.6 percent year-over-year in current euros (11.4 percent in constant euros).
  • Earnings per share acceleration: EPS grew 17.5 percent in current euros, outpacing net profit growth, attributed to share buybacks carried out over the past twelve months.
  • Lending growth: Customer loans increased 20.4 percent year-over-year in constant euros; Spain grew 7.3 percent and Mexico grew 12 percent over the same period.
  • Capital and dividends: The CET1 ratio stood at 12.21 percent at end of September, above the bank's stated target range of 11.5 to 12 percent; a gross interim cash dividend of €0.37 per share was paid on October 15, described as the highest interim dividend in the bank's history.
  • Share buyback program: A €2 billion extraordinary share buyback program is underway; the first €1 billion tranche was completed and the second €1 billion tranche has begun.
  • Efficiency and profitability: The efficiency ratio stood at 37.9 percent; ROTE reached 22 percent and ROE reached 20.8 percent through September 2026.
  • Q3 standalone profit: Net attributable profit for the third quarter alone was €3.02 billion, up 14.4 percent over the same period of the prior year.

BBVA's January-September 2026 Financial Results: Income, Capital, and Regional Performance

According to the filing, net interest income for the first nine months of 2026 reached €23.24 billion, an increase of 17.8 percent year-over-year in constant euros, supported by business momentum in Türkiye, South America, and Mexico. Net fees and commissions income stood at €6.91 billion, up 14.5 percent, driven by payment methods and asset management. Together, the filing reports these two recurring revenue streams totaled €30.15 billion, a 17 percent increase year-over-year. Gross income reached €32.07 billion, up 16.3 percent, slightly ahead of operating expenses, which rose 16 percent to €12.17 billion. The filing notes that expense growth was affected by non-recurring items including VAT payment adjustments in the second quarters of 2025 and 2026 and voluntary staff departures in 2026; excluding those effects, expense growth would have been 13.8 percent. Operating income reached €19.90 billion, up 16.5 percent.

On credit quality, the filing disclosed that impairment losses on financial assets increased by 22 percent, though risk indicators are described as stable. The cumulative cost of risk stood at 1.44 percent, the NPL ratio was 2.6 percent, and the coverage ratio was 84 percent. Tangible book value per share plus dividends stood at €10.92, representing a 19.9 percent increase year-over-year, excluding the effects of share buybacks over the past twelve months.

By business area, the filing reported net attributable profit of €3.11 billion in Spain, €4.52 billion in Mexico (up 8.4 percent year-over-year), €789 million in Türkiye (up 21.8 percent in current euros), and €821 million in South America (up 42.1 percent in current euros). In the Rest of Business area, net attributable profit grew 58.5 percent to €801 million, supported by corporate lending growth in the USA, Europe, and Asia, with an NPL ratio of 0.3 percent and a cumulative cost of risk of 0.11 percent.

What Was Disclosed

BBVA filed a Form 6-K for October 2026 disclosing nine-month financial results including a record €9.07 billion net attributable profit, a 20.4 percent increase in lending, a CET1 ratio of 12.21 percent, an interim dividend of €0.37 per share, and the progress of a €2 billion share buyback program.