EarningsQ2 2026 Earnings Report
MX:BBVA Q2 2026 EPS Results
Actual EPS$10.62
Consensus EPS$10.19
Beat/MissBeat by +$0.43
One Year Ago EPS$9.05
MX:BBVA Q2 2026 Revenue Results
Actual Revenue$437.70B
Expected Revenue$205.32B
Beat/MissBeat by +$232.38B
YoY Revenue Growth+21.84%
Earnings Announcement Details
QuarterQ2 2026
Date07/30/2026
TimeBefore Open
Conference CallThursday, July 30, 2026
MX:BBVA Upcoming Earnings
Banco Bilbao Vizcaya Argentaria's next earnings date is estimated for October 29, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
No earnings call audio is available for this earnings event.
Q2 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call presents a strongly positive operational and financial performance: record earnings, double‑digit revenue growth across core lines, robust loan growth, upgraded guidance in key regions (Mexico and South America), solid capital generation and continued shareholder returns (new EUR 2bn buyback). Key challenges flagged include elevated headline expense growth (partly one‑off), pockets of higher provisioning in Turkey and Argentina, normalization of trading income and some ALCO/market‑sensitivity risks. Management reiterated disciplined capital targets and emphasized profitable, client‑driven growth and AI transformation. Overall, positive momentum across major franchises outweighs the regional and non‑recurring challenges noted.Company Guidance
Record Earnings and Strong Profitability
Net attributable profit reached EUR 3.062 billion in Q2 (+11.4% year‑over‑year, +2.4% quarter‑over‑quarter) and EUR 6.051 billion in H1. Return on tangible equity stood at 22.2% and return on equity at 21.1%. Earnings per share increased 15.2% year‑over‑year (helped by buybacks).
Outstanding Shareholder Value Creation
Tangible book value per share plus dividends increased 17.3% year‑over‑year and 5.4% quarter‑over‑quarter; excluding impact of share buybacks the YoY growth is 21.8%.
Strong Revenue Expansion — Core Revenue Drivers
Net interest income grew 17.8% year‑over‑year and 2.1% quarter‑over‑quarter; net fees and commissions rose 16.2% YoY; net trading income up 13% YoY (q/q normalization noted). Gross income up ~15.7% YoY and broadly stable q/q.
Robust Loan Growth and Activity
Group loan portfolio grew 17.7% year‑over‑year in constant euros (~20% in current euros). Spain loans +7.4% YoY; Mexico close to 10% YoY. Growth concentrated in profitable segments (consumer, credit cards, private enterprises).
Regional Outperformance — Mexico and South America
BBVA Mexico H1 net profit ~EUR 3.0 billion (+8.2% YoY) with improved NII and stable NIM; guidance upgraded to ~10% loan growth, NII high single digit, cost of risk end <335 bps. South America H1 net profit EUR 556 million (+33.6% YoY); NII +23.7% YoY and full‑year gross revenues guidance upgraded to high teens.
Spain: Solid Commercial Momentum and Asset Quality
Spain net profit in Q2 EUR 1.1 billion (H1 EUR 2.2 billion, +2.3% YoY). NII +4.1% YoY; loans +7.4% YoY; NPL ratio improved to 2.86% (new historic low) with coverage at 71%; cost of risk in Spain ~31 bps H1 (in line with guidance).
Capital Position and Shareholder Returns
CET1 ratio improved by 7 bps in the quarter to 12.90% (quarter impact: +75 bps from results, -40 bps dividend accrual & coupons, -41 bps RWAs growth; SRTs contributed +6 bps). Company completing EUR 4 billion buyback and launching a new EUR 2 billion extraordinary buyback (first tranche EUR 1 billion starting Aug 5).
Efficiency and Controlled Cost Base (Excluding One‑offs)
Group efficiency ratio reported 37.8% (noted as better than guidance). Excluding two non‑recurring items (voluntary redundancies and VAT regularization), H1 cost growth would be 14.5% and the efficiency ratio would have improved by 77 bps in H1; Spain efficiency best‑in‑class at 33.6% and Mexico at 30.8%.
Commercial & CIB Momentum
Rest of business (CIB) delivered Q2 net profit EUR 271 million (+14.5% q/q) with lending growth (CIB YoY +52% in rest of business) and RoRWA for rest of business 2.1% (excluding Argentina and Turkey around 3%). Cross‑border client revenues ~40% of CIB client revenues.
AI Transformation Progress
Over 100,000 teammates actively using AI tools; launched bank‑wide roadmap 'The Eight' and a new framework to create, deploy and manage AI agents at scale with governance, security and performance measurement; dedicated AI transformation unit established.
MX:BBVA Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed