Banco Bilbao Vizcaya Argentaria (BBVA) Q1 2026 Fixed income presentation earnings summary

Global presence and financial performance

• Operates in over 25 countries with 126,877 employees and 82 million active customers as of March 2026.

• Net attributable profit for 1Q26 reached €2,989 million, with total assets of €894.3 billion.

• CET1 fully-loaded ratio stands at 12.83%, above the target range of 11.5%-12.0%.

• Maintains a diversified model with leading market positions in Spain (#3), Mexico (#1), Turkey (#2), and other key markets.

Financial results and profitability

• Net interest income grew by 20.2% year-on-year, supported by strong loan growth (+17.0%) and fee income (+15.5%).

• Efficiency ratio improved to 38.0%, reflecting positive jaws and cost control.

• Return on tangible equity (ROTE) averaged 19.8% (CAGR 2024-3M26), with a goal of around 22% for 2025-2028.

• Net attributable profit increased by 14.1% year-on-year in 1Q26.

Asset quality and risk management

• Non-performing loan (NPL) ratio improved to 2.6% with a coverage ratio of 81%.

• Cost of risk remained stable at 1.54% in 1Q26.

• Prudent risk management and proactive provisioning support asset quality.