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Banco Bilbao Vizcaya Argentaria
Banco Bilbao Vizcaya Argentaria (BBVA) investor relations material
Banco Bilbao Vizcaya Argentaria Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary5 Feb, 2026
Executive summary
Achieved record net attributable profit of €10.5 billion in 2025, up 4.5% year-over-year, with strong recurring revenues and tangible book value plus dividends per share rising 12.8%.
Return on tangible equity reached 19.3%, with superior revenue growth and efficiency ratio improving to 38.8%.
Customer acquisition hit a record 11.5 million gross new customers, with 66% acquired through digital channels.
Strategic focus on AI, digital transformation, and sustainable business, with €134bn channeled to sustainable business in 2025.
Shareholder distributions increased, including a €5.2 billion cash dividend and a €4.0 billion extraordinary share buyback.
Financial highlights
Gross income grew 16.3% year-over-year in constant euros to €36.9 billion, with net interest income up 13.9% and fee income up 14.6%.
Operating income rose 20.4% to €22.6 billion, and efficiency ratio improved to 38.8%.
Cost of risk decreased to 1.39%, NPL ratio at 2.7%, and coverage ratio at 85%.
CET1 ratio stood at 12.70% after share buybacks, above regulatory requirements.
Adjusted EPS grew 5.8% to €1.78, and tangible book value per share plus dividends rose 12.8%.
Outlook and guidance
2026 ROTE expected around 20%, with efficiency ratio below 40% and cost of risk aligned with 2025.
Spain: loans to grow mid-single digit, efficiency below 35%, cost of risk in low 30s bps.
Mexico: high single-digit loan growth, efficiency at low 30s, cost of risk around 340 bps.
South America: mid-teens loan growth, cost of risk below 250 bps.
Strategic priorities to be further discussed in 2026 through BBVA Strategic Talks.
How will future buybacks impact CET1
Path to 2028 efficiency ratio target
Drivers of Turkey retail NPL increase
How will the
36Bn capital be distributed?
Explain hyperinflation's impact on Turkey's NAP.
NII sensitivity to Eurozone interest rate shifts.
Future excess capital distribution priorities?
AI's long-term impact on cost-to-income ratio
Mexico: neobank competition and market share
Partial view of Summaries dataset, powered by Quartr API
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Next Banco Bilbao Vizcaya Argentaria earnings date
Q1 202630 Apr, 2026
Banco Bilbao Vizcaya Argentaria
Next Banco Bilbao Vizcaya Argentaria earnings date
Q1 202630 Apr, 2026
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Frequently asked questions
Banco Bilbao Vizcaya Argentaria S.A. is a multinational financial services group providing retail, corporate, and investment banking, asset management, and insurance services. It operates primarily in Spain, Mexico, Turkey, South America, and the United States. The company is headquartered in Bilbao, Spain, and its shares are listed on the BME.
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