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# BBVA's nine-month profit rises 13.6% to €9.07 billion with a 22% return on tangible equity
- URL: https://www.theglobalbanker.com/bbvas-nine-month-profit-rises-13-6-to-eur9-07-billion-with-a-22-return-on-tangible-equity/
- Published: 2026-10-29T09:30:14.000Z
- Updated: 2026-10-29T09:30:14.000Z
- Description: BBVA's net attributable profit rose 13.6% to €9.07 billion in the first nine months of 2026, and its third-quarter profit of €3.02 billion was roughly in line with analysts' forecasts.
- Author: TGB Editorial Team
- Tags: Banking News, Europe, #newsroom

[BBVA](https://www.theglobalbanker.com/rankings/) reported a net attributable profit of €9.07 billion for January to September 2026, up 13.6% year on year, or 11.4% in constant euros, driven by net interest income and fees. Earnings per share rose faster, by 17.5%, after the share buybacks of the past 12 months.

Third-quarter net attributable profit was €3.02 billion, up 14.4% on the same period of last year. For BBVA, the second-biggest bank in the euro zone by market value, that was roughly in line with the €3.01 billion expected by analysts polled by Reuters.

## LENDING RUNS AHEAD

Customer loans rose 20.4% year on year in constant euros at the end of September. In BBVA's two main markets, lending grew 7.3% in [Spain](https://www.theglobalbanker.com/market-spain/) and 12% in Mexico over the past 12 months. Net interest income increased 17.8% to €23.24 billion, supported by business momentum particularly in Turkey, South America and Mexico, while net fees and commissions rose 14.5% to €6.91 billion on payment methods and asset management.

Gross income reached €32.07 billion, up 16.3%, slightly ahead of operating expenses, which rose 16% to €12.17 billion. The bank said costs were lifted by non-recurring items, including VAT payment adjustments and voluntary staff departures in 2026; without them, expense growth would have been 13.8%, with an 81 basis-point improvement in the efficiency ratio.

On the bank's figures, the cumulative cost of risk was 1.44%, the NPL ratio 2.6% and coverage 84%. In the third quarter, loan-loss provisions rose 24% to €1.95 billion, above the €1.86 billion analysts had forecast, following the rise in customer loans.

## MEXICO CARRIES THE GROUP

By business area, Mexico remained the main source of earnings at €4,522m. Spain provided €3,106m and Turkey €789m, up 21.8%. In South America, net profit rose 42% to €821m.

In the third quarter, net profit in Spain, BBVA's second-biggest market, fell 5.5% as trading income dropped 94%. At home, BBVA is one of three large groups, with Santander and CaixaBank, that dominate a concentrated Spanish banking system in which the five largest credit institutions held 67.4% of sector assets in 2025.

## CAPITAL AND PAYOUTS

The CET1 ratio stood at 12.21% at the end of September, above the bank's target range of 11.5 to 12%. On 15 October shareholders received a gross cash dividend of €0.37 per share, and an extraordinary €2 billion share buyback is under way: the first €1 billion tranche is complete and the second has begun.

Return on equity reached 20.8% through September and return on tangible equity 22%. Chief executive Onur Genç called the bank's 22% return "the highest in Europe".

## THE TGB VIEW

BBVA ranks 15th in the TGB Bank Rankings for Europe, which rank banks by total assets, with US$1,010.0 billion and a return on equity of 18.3% for 2025, so its 20.8% through September is running above that level. ING's third-quarter return on tangible equity of 16.3% compares with BBVA's 22% for the nine months. The 2025–2028 plan aims for €48,000m of cumulative profit, and €19,600m has already been earned.

*Related: [Morningstar DBRS raised BBVA’s long-term issuer rating to AA (low)](https://www.theglobalbanker.com/morningstar-dbrs-raised-bbvas-long-term-issuer-rating-to-aa-low/)*