Banco Bilbao Vizcaya Argentaria, S.A. Q3 2025 Earnings Recap

BBVA delivered robust third-quarter results, showcasing resilient net attributable profit of over EUR 2.5 billion, despite macroeconomic headwinds and a lower interest rate environment.

Key Takeaways

• Tangible book value per share plus dividends increased by 17% year-over-year, and profitability metrics remain strong with a return on tangible equity of 19.7%.
• Core revenues drove gross income growth of 16% year-over-year, attributed to significant increases in net interest income (18%) and fees (15%).
• Loan growth maintained a strong pace at 16% year-over-year, with Spanish loans growing by 7.8% and Mexican loans by 9.8%, indicating continued market share gains.
• CET1 capital ratio improved to 13.42%, enhancing capacity for shareholder returns amidst positive financial momentum.
• Positive jaws observed, with gross income rising 16.2% while operating expenses increased by only 11%, highlighting effective cost management.