Banco Bilbao Vizcaya Argentaria, S.a. · BME:BBVA

Banco Bilbao Vizcaya Argentaria — Q1 2026 Earnings Presentation

47 slides from Banco Bilbao Vizcaya Argentaria's earnings presentation, Apr 30, 2026

  1. Slide 1: 1Q26 Earnings

    1Q26 Earnings April 30, 2026

  2. Slide 2: Disclaimer

    1Q26 EARNINGS Disclaimer This document is only provided for information purposes and is not intended to provide financial advice and, therefore, does not constitute, nor should it be interpreted as, an offer to sell, exchange or acquire, or an invitation for offers to acquire securities issued by any

  3. Slide 3: Excellent Value Creation and Profitability

    1Q26 EARNINGS Excellent Value Creation and Profitability TBV + DIVIDENDS PROFITABILITY METRICS 1 (€ / SHARE ) (%) +14.7% +5.0% +18.1% ROTE YoY ex-SBB 21.7 20.2 19.3 10.01 10.49 9.14 0.922 9.57 ROE 20.7 19.3 18.4 Mar-25 Dec-25 Mar-26 3M25 2025 3M26 TBV / share Dividends / share (1) Total number of sha

  4. Slide 4: Another very Strong Quarter in Profit and Capital Generation

    1Q26 EARNINGS Another very Strong Quarter in Profit and Capital Generation NET ATTRIBUTABLE PROFIT CET1 RATIO (CURRENT €M) (%) +10.8% +13bps +18.0% 12.83% 2,989 12.70% 2,698 2,533 Target Range 11.5%-12.0% SREP Requirement 8.98% 1Q25 4Q25 1Q26 Dec-25 Mar-26 EPS (€)1 0.45 0.42 0.51 p. 4 (1) EPS calcula

  5. Slide 5: 1Q26 Key Financial Messages

    1Q26 EARNINGS 1Q26 Key Financial Messages NET INTEREST INCOME TOTAL LOAN GROWTH1 Strong activity drives Net Interest Income growth +20.2% vs. 1Q25 +17.0% vs. 1Q25 CONSTANT CONSTANT NET FEES AND COMMISSIONS Excellent Fee Income evolution +15.5% vs. 1Q25 CONSTANT EFFICIENCY RATIO Positive jaws and lea

  6. Slide 6: Profit & Loss

    1Q26 EARNINGS 1Q26 Profit & Loss Change Change 1Q26/1Q25 1Q26/4Q25 % % BBVA GROUP (€M) 1Q26 const. % const. % Net Interest Income 7,537 20.2 17.8 2.9 7.2 Net Fees and Commissions 2,256 15.5 9.5 0.9 5.2 Net Trading Income 915 1.1 -3.4 26.2 31.9 Other Income & Expenses -56 -54.7 -31.3 -23.8 -28.2 Gross

  7. Slide 7: Remarkable Growth Trend in Revenues

    1Q26 EARNINGS Remarkable Growth Trend in Revenues NET INTEREST INCOME (CONSTANT €M) NET FEES AND COMMISSIONS (CONSTANT €M) +20.2% +15.5% +2.9% NII growth driven by +0.9% Positive fee income strong activity and trend levered on price management payments, asset management and higher insurance and CIB

  8. Slide 8: Resilient NII despite Declining Rates Thanks to Solid Loan Growth and Effective Price Management

    1Q26 EARNINGS Resilient NII despite Declining Rates Thanks to Solid Loan Growth and Effective Price Management TOTAL LOAN GROWTH1 BBVA CUSTOMER SPREADS NET INTEREST INCOME (MAR-26, YOY, CONSTANT €) (%) (%, CONSTANT €) +3.6% ECB Deposit Rate2 4.0% 3.44 +6.3% 3.19 Spain 2.82 1,598 1,656 ECB Deposit Ra

  9. Slide 9: Positive Jaws and Leading Efficiency Ratio

    1Q26 EARNINGS Positive Jaws and Leading Efficiency Ratio POSITIVE JAWS EFFICIENCY RATIO (3M26 YOY, CONSTANT €) (COST-TO-INCOME, % CONSTANT €) FOOTPRINT INFLATION1 -24bps % 8.9% +18.3 12M AVERAGE +17.5% 38.3 38.0 +13.9% 36.8% excl. voluntary excl. voluntary redundancies redundancies Gross Operating 3M

  10. Slide 10: Sound Asset Quality Metrics

    1Q26 EARNINGS Sound Asset Quality Metrics FINANCIAL ASSETS IMPAIRMENTS NPL (CONSTANT €M) (CURRENT €BN) 1,825 1,820 1,645 14.3 14.6 14.3 14.8 15.2 1,348 1,470 1Q25 2Q25 3Q25 4Q25 1Q26 Mar-25 Jun-25 Sep-25 Dec-25 Mar-26 COST OF RISK NPL & COVERAGE RATIOS (%, QUARTERLY) (%) 82% 81% 84% 85% 86 % 1.52% 1

  11. Slide 11: Our Solid Capital Position Underpins Attractive Shareholder's Remuneration

    1Q26 EARNINGS Our Solid Capital Position Underpins Attractive Shareholder’s Remuneration CET1 RATIO (%, BPS) +13bps Already completed two tranches of the SBB +75 bps -40 bps approved in Dec-25 for 12.70% -34 bps +12 bps 12.83% Target Range 2.5 billion € 11.5%-12.0% SREP Third tranche to start Requir

  12. Slide 12: Advancing in the Execution of our AI Transformation Strategy

    1Q26 EARNINGS Advancing in the Execution of our AI Transformation Strategy ROBOT 1 ROBOT 2 ROBOT 3 Blue: Personal AI for the Risk CLIENTS PROCESSES EMPLOYEES Advisor for Banker - every client relationship manager Smart multimodal Smart E2E Empower our companion advisors automation employees with AI

  13. Slide 13: Group Financial Goals Evolution

    1Q26 EARNINGS Group Financial Goals Evolution Aligned with plan ROTE TBV + DIV PER SH. C/I RATIO NET ATTRIBUTABLE (%, CURRENT €) (%, CURRENT €) (%, CURRENT €) PROFIT (CURRENT €) GOAL GOAL 40% GOAL c.22% Mid-teens c.€48 Bn AVG. 2025-2028 CAGR 2024-2028 38% CUMULATIVE 2025-2028 3M26 2025-3M26 avg CAGR

  14. Slide 14: Business Areas

    Business Areas SPAIN MEXICO TURKEY SOUTH AMERICA REST OF BUSINESS

  15. Slide 15: Spain

    1Q26 EARNINGS BUSINESS AREAS Spain PROFIT & LOSS (€M) Δ (%) ACTIVITY (€BN, MAR-26) 1Q26 vs. 1Q25 vs. 4Q25 Net Interest Income 1,656 3.6 -1.2 LENDING1 CUST.FUNDS1 Net Fees and Commissions 605 3.5 -2.4 YoY YoY Net Trading Income 295 20.0 59.2 +7.8% +6.3 % Other Income & Expenses 97 8.4 55.8 Gross Inco

  16. Slide 16: Mexico

    1Q26 EARNINGS BUSINESS AREAS Mexico PROFIT & LOSS Δ Constant (%) Δ Current (%) ACTIVITY (MAR-26; CONSTANT €BN) (CONSTANT €M) 1Q26 vs. 1Q25 vs. 4Q25 vs. 1Q25 LENDING1 CUST.FUNDS1 Net Interest Income 3,136 8.3 -0.3 13.3 Net Fees and Commissions 648 6.3 -2.0 11.2 YoY YoY Net Trading Income 286 24.0 26.

  17. Slide 17: Turkey

    1Q26 EARNINGS BUSINESS AREAS Turkey PROFIT & LOSS Δ Current (%) ACTIVITY (MAR-26; CONSTANT €BN; BANK ONLY) (CURRENT €M) 1Q26 vs. 1Q25 vs. 4Q25 Net Interest Income 1,121 59.9 19.0 LENDING2 CUST.FUNDS2 Net Fees and Commissions 565 2.7 8.4 YoY1 Net Trading Income Other Income & Expenses 146 -120 18.2 1

  18. Slide 18: South America

    1Q26 EARNINGS BUSINESS AREAS South America NET ATTRIBUTABLE PROFIT ACTIVITY (MAR-26; CONSTANT €BN) (CURRENT €M) Δ Current (%) LENDING1 CUST.FUNDS1 YoY YoY 1Q26 vs. 1Q25 vs. 4Q25 +17.7% +15.0 % Colombia 78 137.6 274.1 Colombia +8.7% Peru 81 -2.6 20.2 +6.9% Colombia Argentina 27 -45.9 -7.1 Other ¹ 62

  19. Slide 19: Rest of business

    1Q26 EARNINGS BUSINESS AREAS Rest of business PROFIT & LOSS Δ (%) ACTIVITY (MAR-26; CONSTANT €BN) (CONSTANT €M) 1Q26 vs. 1Q25 vs. 4Q25 LENDING1 CUST.FUNDS1 Net Interest Income 232 27.0 0.5 YoY Net Fees and Commissions 201 51.5 22.2 +54.5% YoY Net Trading Income 161 56.5 38.8 +38.5% Other Income & Ex

  20. Slide 20: Takeaways

    1Q26 EARNINGS Takeaways Outstanding Value Creation and Net Attributable Profit continues its Profitability metrics excellent trajectory Strong Core revenues evolution on the Advancing in the execution of our back of activity growth Strategy On track to achieve our ambitious Continued CET1 capital gene

  21. Slide 21: Annex

    Annex 1 P&L Accounts by Business Area 6 RWAs by Business Area 2 Customer Spread by Country 7 Book Value of the Main Subsidiaries 3 Stages Breakdown by Business Area 8 MREL 4 ALCO Portfolio, NII Sensitivity and LCRs & NSFRs 9 Medium-Term Strategic Objectives 5 CET1 Sensitivity to Market Impacts

  22. Slide 22: P&L Accounts by Business Area

    1 P&L Accounts by Business Area Corporate Center Turkey Argentina Colombia Peru (hyperinflation (hyperinflation adjustment) adjustment)

  23. Slide 23: Corporate Center

    1Q26 EARNINGS ANNEX - P&L ACCOUNTS BY BUSINESS AREA Corporate Center Δ (%) PROFIT & LOSS (€M) 1Q26 vs. 1Q25 vs. 4Q25 Net Interest Income -83 -6.4 -42.0 Net Fees and Commissions -25 21.8 -32.7 Net Trading Income -118 n.s. n.s. Other Income & Expenses 18 128.0 -67.9 Gross Income -208 n.s. 50.3 Operati

  24. Slide 24: Turkey - Hyperinflation Adjustment

    1Q26 EARNINGS ANNEX - P&L ACCOUNTS BY BUSINESS AREA Turkey - Hyperinflation Adjustment 3M26 Hyperinflation 3M26 PROFIT & LOSS (€M) (reported) (1) adjustment (2) Ex.Hyperinflation Net Interest Income 1,121 23 1,098 Net Fees and Commissions 565 13 552 Net Trading Income 146 35 111 Other Income & Expenses

  25. Slide 25: Argentina - Hyperinflation Adjustment

    1Q26 EARNINGS ANNEX - P&L ACCOUNTS BY BUSINESS AREA Argentina - Hyperinflation Adjustment 3M26 Hyperinflation 3M26 PROFIT & LOSS (€M) (reported) (1) adjustment (2) Ex.Hyperinflation Net Interest Income 539 32 507 Net Fees and Commissions 111 7 104 Net Trading Income 50 -7 57 Other Income & Expenses -22

  26. Slide 26: Colombia

    1Q26 EARNINGS ANNEX - P&L ACCOUNTS BY BUSINESS AREA Colombia Δ (%) PROFIT & LOSS (€M CONSTANT) 1Q26 vs. 1Q25 vs. 4Q25 Net Interest Income 296 23.6 4.5 Net Fees and Commissions 39 47.1 -21.9 Net Trading Income 25 -10.7 70.7 Other Income & Expenses 2 n.s. n.s. Gross Income 362 26.1 23.1 Operating Expe

  27. Slide 27: Peru

    1Q26 EARNINGS ANNEX - P&L ACCOUNTS BY BUSINESS AREA Peru Δ (%) PROFIT & LOSS (€M CONSTANT) 1Q26 vs. 1Q25 vs. 4Q25 Net Interest Income 407 11.7 3.4 Net Fees and Commissions 85 5.6 -0.7 Net Trading Income 55 8.6 21.6 Other Income & Expenses -10 26.4 -15.0 Gross Income 538 10.1 4.8 Operating Expenses -

  28. Slide 28: Customer Spread by Country

    2 Customer Spread by Country

  29. Slide 29: Customer Spreads

    1Q26 EARNINGS ANNEX - CUSTOMER SPREAD BY COUNTRY Customer Spreads: AVERAGE 1Q25 2Q25 3Q25 4Q25 1Q26 Spain 3.19% 3.05% 2.88% 2.80% 2.82% Yield on Loans 3.85% 3.66% 3.45% 3.39% 3.39% Quarterly Cost of Deposits Mexico MXN -0.66% 12.00% -0.60% 11.96% -0.57% 11.98% -0.59% 12.01% -0.58% 11.74% Evolution Y

  30. Slide 30: Stages Breakdown by Business Area

    3 Stages Breakdown by Business Area

  31. Slide 31: Stages Breakdown by Business Areas

    1Q26 EARNINGS ANNEX - STAGES BREAKDOWN BY BUSINESS AREA Stages Breakdown by Business Areas CREDIT RISK BREAKDOWN BY AREA (MAR-26, € M) Gross Accumulated Gross Accumulated Gross Accumulated BBVA GROUP Exposure impairments SPAIN Exposure impairments MEXICO Exposure impairments Stage 1 521,734 2,578 St

  32. Slide 32: ALCO Portfolio, NII Sensitivity and LCRs & NSFRs

    4 ALCO Portfolio, NII Sensitivity and LCRs & NSFRs

  33. Slide 33: ALCO Portfolio

    1Q26 EARNINGS ANNEX - ALCO PORTFOLIO, NII SENSITIVITY AND LCRS & NSFRS ALCO Portfolio ALCO PORTFOLIO BREAKDOWN BY REGION EURO ALCO PORTFOLIO (€ BN) MATURITY PROFILE (€ BN) Amort Cost Fair Value (HTC) (HTC&S) (duration MAR-26 (€ BN) (€ BN) incl. hedges) South 0.2 6.3 1.4 years America Turkey 4.9 5.8

  34. Slide 34: NII Sensitivity to Interest Rates Movements

    1Q26 EARNINGS ANNEX - ALCO PORTFOLIO, NII SENSITIVITY AND LCRS & NSFRS NII Sensitivity to Interest Rates Movements ESTIMATED IMPACT ON NII IN THE NEXT 12 MONTHS TO PARALLEL INTEREST RATE MOVEMENTS (TO +/-100 BPS INTEREST RATES MOVEMENT, %) EURO BALANCE MEXICO SHEET +/– 4-5% +/- 2.5% Note: NII sensit

  35. Slide 35: Liquidity and Funding Ratios

    1Q26 EARNINGS ANNEX - ALCO PORTFOLIO, NII SENSITIVITY AND LCRS & NSFRS Liquidity and Funding Ratios BBVA GROUP AND SUBSIDIARIES LCR & NSFR (MAR-26) LCR NSFR Total Group 167% / 141% 1 125% Loan To Both LCR and NSFR Deposit significantly above the BBVA, S.A. 165% 116% 93% 100% requirements, at a Group

  36. Slide 36: CET1 Sensitivity to Market Impacts

    5 CET1 Sensitivity to Market Impacts

  37. Slide 37: CET1 Sensitivity to Market Impacts

    1Q26 EARNINGS ANNEX - CET1 SENSITIVITY TO MARKET IMPACTS CET1 Sensitivity to Market Impacts1 TO A 10% CURRENCY DEPRECIATION2 TO A 10% DECLINE IN (MAR-26) TELEFONICA’S SHARE PRICE (MAR-26) 1 bps MXN TRY USD ー 15 bps ー 2 bps +12 bps ー TO +100 BPS MOVEMENT IN TO +100 BPS MOVEMENT IN THE THE SPANISH SOV

  38. Slide 38: RWAs by Business Area

    is RWAs by Business Area

  39. Slide 39: Risk-Weighted Assets by Business Area

    1Q26 EARNINGS ANNEX - RWAS BY BUSINESS AREA Risk-Weighted Assets by Business Area BREAKDOWN BY BUSINESS AREA Fully-Loaded RWAs Δ (%) (€M) Mar-25 Dec-25 Mar-26 vs. Mar-25 vs. Dec-25 Spain 121,215 119,734 117,752 -2.9% -1.7% Mexico 87,158 82,746 83,745 -3.9% 1.2% Turkey 65,982 71,551 74,171 12.4% 3.7%

  40. Slide 40: Book Value of the Main Subsidiaries

    7 Book Value of the Main Subsidiaries

  41. Slide 41: Book Value of the Main Subsidiaries

    1Q26 EARNINGS ANNEX - BOOK VALUE OF THE MAIN SUBSIDIARIES Book Value of the Main Subsidiaries1,2 (€ BN; MAR-26) Δ (%) QoQ Mexico -3.9% Turkey +1.3% Colombia +4.4% Peru -5.7% Argentina +21.2% Uruguay +2.5% Chile +9.4% Venezuela +27.7% (1) Includes the initial investment + BBVA’s undistributed results

  42. Slide 42: MREL

    8 MREL

  43. Slide 43: Sound MREL Position

    1Q26 EARNINGS ANNEX - MREL Sound MREL Position POSITION AS OF MAR-26 (% RWA1) MREL REQUIREMENT + CBR SUBORDINATION REQUIREMENT + CBR 29.63% SRB’s 14 April ‘26 MREL 26.85% 25.92% Requirement + SRB’s 14 April CBR 3.72% ‘26 27.66 Subordination % CBR3 Requirement + CBR 17.22% CBR3 23.13 % 17.22 % MREL 3

  44. Slide 44: Medium-Term Strategic Objectives

    9 Medium-Term Strategic Objectives

  45. Slide 45: Business Units Financial Goals

    1Q26 EARNINGS ANNEX - MEDIUM-TERM STRATEGIC OBJECTIVES Business Units Financial Goals South Rest of Spain Mexico Turkey America Business1 Activity Mid-single High-single Above High High Growth (CAGR 24-28, const. €) digit digit inflation teens teens Low to High-single Revenue Mid-single High-single H

  46. Slide 46: CET1 expected generation & uses of capital

    1Q26 EARNINGS ANNEX - MEDIUM-TERM STRATEGIC OBJECTIVES CET1 expected generation & uses of capital1 CET1 SOURCES (EURO, BILLIONS) c.€49 Bn EXCESS CET1 ABOVE 12% as of DEC’242 4.5 CET1 GENERATION 2025-2028 39 SRTs3 2025-2028 5 CET1 USES (EURO, BILLIONS) c.€49 Bn INVESTED FOR GROWTH4 13 AVAILABLE FOR D

  47. Slide 47: BBVA

    BBVA

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