Q2 2026 Banco Bilbao Vizcaya Argentaria SA Earnings Call Transcript

Jul 30, 2026 / 07:30 AM GMT

Transcript

Key Points

Positve

Banco Bilbao Vizcaya Argentaria SA (BBVA) delivered record net attributable profit of €3.062 billion in Q2 2026, up 11.4% year-over-year, driven by strong core revenue growth.
Return on tangible equity (ROTE) improved to 22.2% for the first half of 2026, positioning BBVA as one of the most profitable large banks in Europe.
Loan growth remained robust at 17.7% year-over-year in constant euros, with strong performance in key markets like Spain (7.4%) and Mexico (close to 10%), supported by profitable segments like consumer and credit cards.
The bank announced a new €2 billion extraordinary share buyback program, reflecting strong capital generation and a commitment to returning excess capital to shareholders.
Asset quality remained sound with a stable cost of risk at 143 basis points for the first half, and the bank upgraded its 2026 guidance for Mexico and South America due to better-than-expected performance.

Negative

Cost growth in the first half was impacted by non-recurring items like voluntary redundancies in Spain and VAT regularization, leading to a 17.9% increase in expenses year-over-year.
In Turkey, net interest income declined quarter-over-quarter due to tighter customer spreads in a high-interest-rate environment, and the cost of risk guidance was downgraded to around 220 basis points.
The net trading income decreased quarter-over-quarter due to a more normalized contribution from global markets and losses from FX hedges related to Mexican peso appreciation.
The hyperinflationary accounting in Turkey remains a risk, with the possibility of exiting hyperinflation by 2028 being uncertain due to persistent inflation stickiness.
The bank's CIB business (Rest of Business) saw a 52% year-over-year loan growth, which may raise concerns about sustainability and risk, though management emphasized it is focused on existing clients and cross-border opportunities.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

BBVA.MC - Banco Bilbao Vizcaya Argentaria SA
Q2 2026 Banco Bilbao Vizcaya Argentaria SA Earnings Call
Jul 30, 2026 / 07:30AM GMT

=====================
Presentation
--------------------------------------------------------------------------------
Unidentified_1 [1]
--------------------------------------------------------------------------------
Good morning everyone and welcome to BBBA second quarter research presentation.

Joining me today are our CEO Honor Gentz and the group CFO Luisa Gome Pravo, as in previous quarters on uranissa, we begin by reviewing the quarterly figures, after which we will open the line for the live Q&A session with that, I turn it over to Anu.

Thank you, Patricia, good morning to everyone.

Welcome and thank you for joining BVVA's second quarter of 2026 earnings, webcast.

Before we begin, I want to say a few words about Luisa as this is her last results presentation as the CFO of EVVA.

And in very short few sentences, we are a 169-year-old bank.

169-year old

Already have an account? Log in

Get the full story

Subscribe Now

	Access to All Earning Calls and Stock Analysis
	30-Year Financial on one screen
	All-in-one Stock Screener with unlimited filters
	Customizable Stock Dashboard
	Real Time Insider Trading Transactions
	8,000+ Institutional investors’ 13F holdings
	Powerful Excel Add-in and Google sheets Add-on
	All data downloadable
	Quick customer support
	And much more...

7-Day Free Trial · Cancel Anytime

Subscription fee may be tax deductible.

Excellent

4.6 out of 5

Trustpilot

Research Tools

All-In-One Screener Stock Ideas Stock List Guru List Guru Real-Time Picks Insider List Insider Trades Economic Indicators Sector & Industry Performance DCF Calculator Calculators Discussion Board

Product

Pricing Plans Excel Add-In Google Sheets Add-on Data API Stock Comparison Table Manual of Stocks Instant Alerts Mobile App Newsletters Signup 中文

Education

Financial Glossary Tutorials FAQ Buffett Indicator Shiller P/E Yield Curve Today U.S. Inflation Rate Global Market Valuation Fed Net Liquidity Buffett Assets Allocation

Company

About GuruFocus Career Contact Us Advertise Term of Use Privacy Policy Referral Program Partner Program

Survey

We'd love to learn more about your experiences on GuruFocus.com and how we can improve!

Take Survey

Disclaimers

GuruFocus.com is not operated by a broker or a dealer. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The individuals or entities selected as "gurus" may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. Gurus may be added or dropped from the GuruFocus site at any time. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes are provided by QuoteMedia, Inc. (CSI). Company fundamental data is provided by Morningstar. Analyst estimates data is sourced from both Refinitiv and Morningstar, with priority given to Refinitiv data. Data is updated daily.