BBVA reported a net attributable profit of €7.62 billion for the first nine months of 2024, an increase of 27.9% year-on-year and equivalent to a gain of 44.2% measured at constant exchange rates, the Spanish bank disclosed on 31 October. Gross income for the period grew 18.4% to €26.16 billion. Nine-month adjusted earnings per share reached €1.28, the bank said in its results release.
The figures come as the bank pursues a contested takeover bid for domestic rival Banco Sabadell, launched earlier in 2024.
PROFIT BY MARKET
Mexico remained BBVA's largest profit contributor, generating €4.19 billion in net attributable profit over the nine-month period.
Spain, the group's home market, contributed €2.87 billion to the nine-month total.
CAPITAL AND SABADELL BID
The fully loaded CET1 ratio stood at 12.84% at the end of September, above the group's 11.5%–12.0% target range and above its 9.13% requirement.
The Sabadell bid remains subject to ongoing regulatory review and shareholder decisions at the time of reporting. BBVA's management has reiterated the strategic rationale for creating a stronger domestic champion with enhanced capacity to serve businesses and households across Spain, arguing that the combination would generate significant cost and revenue synergies over time.
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