The BBVA has reported significant growth, attributed to the expansion of its credit portfolio and recurring revenues. In the first three quarters of the year, the bank’s net interest margin, representing the difference between the interest received and paid, rose by 2% to 19.246 billion euros. Meanwhile, revenue from commissions increased by 5.5%, reaching 6.071 billion euros compared to 2024.
Total revenue, or gross margin, grew by 3.7% during the first nine months of the year, totaling 27.136 billion euros.
The credit extended by the BBVA group from January to September saw a 12.6% rise compared to the same period in 2024, amounting to 447.901 billion euros. Loans to businesses increased by 5.9%, while those to individuals went up by 4.2%.
In the period under review, BBVA attracted a record 8.7 million new customers, with deposits rising 7.7% to 471.364 billion euros, and total client resources expanding by 7.4%.
This month, the BBVA group, which recently failed in its hostile takeover bid for fellow Spanish bank Sabadell, reported profits of 10 billion euros in 2024, marking a 25.4% increase from 2023.
The bank also informed Spain’s National Securities Market Commission (CNMV) that it would initiate a share buyback on Friday valued at 993 million euros and plans to proceed with an additional buyback once it receives approval from the European Central Bank (ECB), following the outcome of the takeover bid for Sabadell.
