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

Banco Bilbao Vizcaya Argentaria — Q2 2026 Earnings Presentation

53 slides from Banco Bilbao Vizcaya Argentaria's earnings presentation, Jul 31, 2026

  1. Slide 1: 2Q26 Earnings

    2Q26 Earnings July 30, 2026

  2. Slide 2: Disclaimer

    2Q26 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: Outstanding Value Creation and Profitability

    2Q26 EARNINGS Outstanding Value Creation and Profitability TBV + DIVIDENDS PROFITABILITY METRICS 1 (€ / SHARE ) (%) +17.3% +21.8% ROTE +5.4% YoY 22.2 ex-SBB 20.4 11.06 19.3 10.49 9.43 0.922 10.14 ROE 21.1 19.5 18.4 Jun-25 Mar-26 Jun-26 6M25 2025 6M26 TBV / share Dividends / share (1) Total number of

  4. Slide 4: Excellent Quarter in Profit and Solid Capital Position

    2Q26 EARNINGS Excellent Quarter in Profit and Solid Capital Position NET ATTRIBUTABLE PROFIT CET1 RATIO (CURRENT €M) (%) +11.4% +7bps +2.4% NAP 6M26 6,051 €M 2,989 3,062 12.90% 2,749 12.83% Target Range 11.5%-12.0% SREP Requirement 8.98% 2Q25 1Q26 2Q26 Mar-26 Jun-26 EPS EPS (€)1 0.46 0.51 0.53 +15.2%

  5. Slide 5: Sustained Loan Growth and Best-in-Class Profitability over Time

    2Q26 EARNINGS Sustained Loan Growth and Best-in-Class Profitability over Time LOAN GROWTH PROFITABILITY (BASE 100=DEC.20, GROSS LOANS IN CURRENT €) (ROTE, %) 22.2% +62% 15.1% European Peers (1) European 11.2% Peers (1) +10% Mar-26 Jun-26 9.2% 100 3M26 6M26 Dec-20 Dec-21 Dec-22 Dec-23 Dec-24 Dec-25 20

  6. Slide 6: 2Q26 Key Financial Messages

    2Q26 EARNINGS 2Q26 Key Financial Messages TOTAL LOAN GROWTH1 Strong Activity growth +17.7% vs. Jun-25 CONSTANT CORE REVENUES (NII+FEES) Excellent Core Revenues evolution +17.4% vs. 2Q25 CONSTANT EFFICIENCY RATIO Best-in-Class Efficiency Ratio 37.8% COST OF RISK (YtD) Sound Asset Quality metrics 1.43%

  7. Slide 7: 2Q26 Profit & Loss

    2Q26 EARNINGS 2Q26 Profit & Loss Change Change 2Q26/2Q25 2Q26/1Q26 % % BBVA GROUP (€M) 2Q26 const. % const. % Net Interest Income 7,627 17.8 22.9 2.1 1.2 Net Fees and Commissions 2,316 16.2 18.7 4.4 2.6 Net Trading Income 582 13.1 20.4 -35.8 -36.4 Other Income & Expenses -19 n.a. n.a. n.a. n.a Gross

  8. Slide 8: 6M26 Profit & Loss

    2Q26 EARNINGS 6M26 Profit & Loss Change 6M26/6M25 % BBVA GROUP (€M) 6M26 const. % Net Interest Income 15,164 18.8 20.3 Net Fees and Commissions 4,572 15.8 14.0 Net Trading Income 1,498 5.5 4.6 Other Income & Expenses -75 n.a. n.a. Gross Income 21,159 16.9 17.3 Operating Expenses -8,000 17.9 17.9 Oper

  9. Slide 9: Strong and Consistent Growth in Core Revenues

    2Q26 EARNINGS Strong and Consistent Growth in Core Revenues NET INTEREST INCOME (CONSTANT €M) NET FEES AND COMMISSIONS (CONSTANT €M) +17.8% +16.2% +2.1% NII growth driven by +4.4% Positive fee income exceptional activity trend levered on and price payments, asset management management and CIB NET TR

  10. Slide 10: Loan Growth in Spain and Mexico Drives Net Interest Income Growth

    2Q26 EARNINGS Loan Growth in Spain and Mexico Drives Net Interest Income Growth TOTAL LOAN GROWTH KEY SEGMENTS LOAN NET INTEREST INCOME (YOY, CONSTANT €) GROWTH (CONSTANT €M) (YOY JUN’26, CONSTANT €) +4.5% +2.0% Spain +6.3 % +7.4% +10.1% +9.2% Jun-25 Jun-26 Consumer + Enterprises Credit Cards 2Q25 1

  11. Slide 11: Market Share Gains in Spain and Mexico in Key Segments

    2Q26 EARNINGS Market Share Gains in Spain and Mexico in Key Segments SPAIN MEXICO (%, LOAN MARKET SHARES) (%, LOAN MARKET SHARES1) 40.3% 37.3% 16.7% 30.4% 30.6% 14.0% 14.3% 26.17% 14.15% 23.45% 13.31% 23.5% 11.8% 19.4% Dec-20 May-26 Dec-20 May-26 Total loans Consumer Enterprises Total loans Credit C

  12. Slide 12: Recurrent Positive Jaws and Leading Efficiency Ratio

    2Q26 EARNINGS Recurrent Positive Jaws and Leading Efficiency Ratio JAWS EFFICIENCY RATIO (6M26 YOY, CONSTANT €) (COST-TO-INCOME, % CONSTANT €) FOOTPRINT INFLATION1 +33bps -77bps excl. non 8.8% recurring items2 % % +17.9 12M AVERAGE +16.9 37.5 37.8 +14.5% excl. non recurring items2 Gross Operating 6M25

  13. Slide 13: Sound Asset Quality Metrics

    2Q26 EARNINGS Sound Asset Quality Metrics FINANCIAL ASSETS IMPAIRMENTS NPL (CONSTANT €M) (CURRENT €BN) 1,813 1,807 1,690 1,639 15.2 16.0 1,470 14.6 14.3 14.8 2Q25 3Q25 4Q25 1Q26 2Q26 Jun-25 Sep-25 Dec-25 Mar-26 Jun-26 COST OF RISK NPL & COVERAGE RATIOS (%, YTD) (%) 1.54% 81% 84% 85% 86% 85 % 1.39% 1

  14. Slide 14: Strong Capital Position and Attractive Shareholder Remuneration

    2Q26 EARNINGS Strong Capital Position and Attractive Shareholder Remuneration CET1 RATIO (%, BPS) +7bps CET1 Share Buy Back pro-forma approved in Dec-25 +75 bps -40 bps 12.41% will be completed in -41 bps 12.83 +13 bps 12.90 the coming days 4.0 % % Target Range c. billion € 11.5%-12.0% SREP Requirem

  15. Slide 15: Advancing in the Execution of our AI Transformation Strategy

    2Q26 EARNINGS Advancing in the Execution of our AI Transformation Strategy October 6th BBVA Strategic Talks OBJECTIVES APPROACH CLIENTS Smart multimodal advisors Adoption The Eight The Frame Hyper personalization of AI Tools Agentic solutions on Industrialization a top-down agenda PROCESSES Smart E2

  16. Slide 16: Group Financial Goals Evolution

    2Q26 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 37.8% CUMULATIVE 2025-2028 6M26 2025-6M26 avg CA

  17. Slide 17: Business Areas

    Business Areas SPAIN MEXICO TURKEY SOUTH AMERICA REST OF BUSINESS

  18. Slide 18: Spain

    2Q26 EARNINGS BUSINESS AREAS Spain Δ (%) Δ (%) ACTIVITY (€BN, JUN-26) PROFIT & LOSS (€M) 2Q26 vs. 2Q25 vs. 1Q26 6M26 vs. 6M25 LENDING1 CUST.FUNDS1 Net Interest Income 1,689 4.5 2.0 3,346 4.1 Net Fees and Commissions 589 0.8 -2.6 1,194 2.2 YoY YoY Net Trading Income 121 -19.9 -59.0 416 4.8 +7.4% +10.

  19. Slide 19: Mexico

    2Q26 EARNINGS BUSINESS AREAS Mexico Δ Current PROFIT PROFIT & & LOSS LOSS Δ Constant (%) Δ Constant (%) ACTIVITY (JUN-26; CONSTANT €BN) (%) (CONSTANT (CONSTANT €M) €M) 2Q26 vs. 2Q25 vs. 1Q26 6M26 vs. 6M25 vs. 6M25 LENDING1 CUST.FUNDS1 Net Interest Income 3,247 8.9 2.7 6,409 16.3 8.6 YoY YoY Net Fees

  20. Slide 20: Turkey

    2Q26 EARNINGS BUSINESS AREAS Turkey Δ Current (%) Δ Current (%) PROFIT & LOSS ACTIVITY (JUN-26; CONSTANT €BN; BANK ONLY) (CURRENT €M) 2Q26 vs. 2Q25 vs. 1Q26 6M26 vs. 6M25 Net Interest Income 1,031 70.3 -8.0 2,152 64.7 LENDING2 CUST.FUNDS2 Net Fees and Commissions 638 25.4 12.9 1,202 13.7 YoY1 Net Tr

  21. Slide 21: South America

    2Q26 EARNINGS BUSINESS AREAS South America NET ATTRIBUTABLE PROFIT ACTIVITY (JUN-26; CONSTANT €BN) (CURRENT €M) Δ Current (%) Δ Current (%) LENDING1 CUST.FUNDS1 YoY YoY 2Q26 vs. 2Q25 vs. 1Q26 6M26 vs. 6M25 +18.0% +14.4% Colombia 97 142.7 24.4 175 140.4 +10.7% Colombia Peru 113 57.8 38.8 194 25.3 Col

  22. Slide 22: Rest of business

    2Q26 EARNINGS BUSINESS AREAS Rest of business PROFIT & LOSS Δ (%) Δ (%) ACTIVITY (JUN-26; CONSTANT €BN) (CONSTANT €M) 2Q26 vs. 2Q25 vs. 1Q26 6M26 vs. 6M25 LENDING1 CUST.FUNDS1 Net Interest Income 274 44.7 17.2 507 36.0 Net Fees and Commissions 190 32.1 -5.6 391 41.5 YoY YoY Net Trading Income 137 80

  23. Slide 23: Takeaways

    2Q26 EARNINGS Takeaways Outstanding Value Creation and Net Attributable Profit continues its Profitability metrics excellent trajectory Advancing in the execution of our Strategy Strong Core revenues evolution on the with a particular focus on AI back of exceptional activity growth Transformation On t

  24. Slide 24: Annex

    Annex 1 P&L Accounts by Business Area 6 CET1 Sensitivity to Market Impacts 2 CIB Business 7 RWAs by Business Area 3 Customer Spread by Country 8 Book Value of the Main Subsidiaries 4 Stages Breakdown by Business Area 9 MREL 5 ALCO Portfolio, NII Sensitivity and LCRs & NSFRs 10 Medium-Term Strategic

  25. Slide 25: P&L Accounts by Business Area

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

  26. Slide 26: Corporate Center

    2Q26 EARNINGS ANNEX - P&L ACCOUNTS BY BUSINESS AREA Corporate Center Δ (%) Δ (%) PROFIT & LOSS (€M) 2Q26 vs. 2Q25 vs. 1Q26 6M26 vs. 6M25 Net Interest Income -119 27.1 44.4 -202 10.9 Net Fees and Commissions -49 44.4 92.1 -74 35.8 Net Trading Income -115 -21.7 -2.6 -232 173.2 Other Income & Expenses

  27. Slide 27: Turkey - Hyperinflation Adjustment

    2Q26 EARNINGS ANNEX - P&L ACCOUNTS BY BUSINESS AREA Turkey - Hyperinflation Adjustment 6M26 Hyperinflation 6M26 PROFIT & LOSS (€M) (reported) (1) adjustment (2) Ex.Hyperinflation Net Interest Income 2,152 63 2,089 Net Fees and Commissions 1,202 32 1,170 Net Trading Income 220 87 133 Other Income & Expe

  28. Slide 28: Argentina - Hyperinflation Adjustment

    2Q26 EARNINGS ANNEX - P&L ACCOUNTS BY BUSINESS AREA Argentina - Hyperinflation Adjustment 6M26 Hyperinflation 6M26 PROFIT & LOSS (€M) (reported) (1) adjustment (2) Ex.Hyperinflation Net Interest Income 1,076 38 1,038 Net Fees and Commissions 224 8 216 Net Trading Income 112 -13 125 Other Income & Expen

  29. Slide 29: Colombia

    2Q26 EARNINGS ANNEX - P&L ACCOUNTS BY BUSINESS AREA Colombia Δ (%) Δ (%) PROFIT & LOSS (€M CONSTANT) 2Q26 vs. 2Q25 vs. 1Q26 6M26 vs. 6M25 Net Interest Income 318 19.5 5.7 618 21.4 Net Fees and Commissions 45 59.7 14.8 85 53.6 Net Trading Income 29 75.2 13.7 54 20.8 Other Income & Expenses -8 96.6 n.

  30. Slide 30: Peru

    2Q26 EARNINGS ANNEX - P&L ACCOUNTS BY BUSINESS AREA Peru Δ (%) Δ (%) PROFIT & LOSS (€M CONSTANT) 2Q26 vs. 2Q25 vs. 1Q26 6M26 vs. 6M25 Net Interest Income 417 13.8 2.6 823 12.7 Net Fees and Commissions 84 11.1 -1.2 169 8.3 Net Trading Income 60 6.6 7.8 115 7.6 Other Income & Expenses -12 100.3 19.0 -

  31. Slide 31: CIB Business

    2 CIB Business

  32. Slide 32: CIB

    2Q26 EARNINGS ANNEX - CIB BUSINESS CIB PROFIT & LOSS ACTIVITY (JUN-26; CONSTANT €BN) Δ Current(%) Δ (%) (CURRENT €M) 2Q26 vs. 2Q25 vs. 1Q26 6M26 vs. 6M25 LENDING1 Net Interest Income 1,100 25.6 8.0 2,119 23.6 Net Fees and Commissions 422 23.6 -10.8 894 27.1 YoY Net Trading Income 564 31.8 -21.0 1,27

  33. Slide 33: Customer Spread by Country

    3 Customer Spread by Country

  34. Slide 34: Customer Spreads: Quarterly Evolution

    2Q26 EARNINGS ANNEX - CUSTOMER SPREAD BY COUNTRY Customer Spreads: AVERAGE 2Q25 3Q25 4Q25 1Q26 2Q26 Spain 3.05% 2.88% 2.80% 2.82% 2.85% Yield on Loans 3.66% 3.45% 3.39% 3.39% 3.43% Quarterly Cost of Deposits Mexico MXN -0.60% 11.96% -0.57% 11.98% -0.59% 12.01% -0.58% 11.74% -0.58% 11.61% Evolution Y

  35. Slide 35: Customer Spreads: YtD Evolution

    2Q26 EARNINGS ANNEX - CUSTOMER SPREAD BY COUNTRY Customer spreads: AVERAGE 6M25 6M26 Spain 3.12% 2.83% Yield on Loans 3.75% 3.41% YtD Cost of Deposits Mexico MXN -0.63% 11.98% -0.58% 11.67% evolution Yield on Loans Cost of Deposits Mexico FC1 14.85% -2.87% 5.34% 13.93% -2.25% 4.66% Yield on Loans 6.

  36. Slide 36: Stages Breakdown by Business Area

    4 Stages Breakdown by Business Area

  37. Slide 37: Stages Breakdown by Business Areas

    2Q26 EARNINGS ANNEX - STAGES BREAKDOWN BY BUSINESS AREA Stages Breakdown by Business Areas CREDIT RISK BREAKDOWN BY AREA (JUN-26, € M) Gross Accumulated Gross Accumulated Gross Accumulated BBVA GROUP Exposure impairments SPAIN Exposure impairments MEXICO Exposure impairments Stage 1 555,789 2,672 St

  38. Slide 38: ALCO Portfolio, NII Sensitivity and LCRs & NSFRs

    5 ALCO Portfolio, NII Sensitivity and LCRs & NSFRs

  39. Slide 39: ALCO Portfolio

    2Q26 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 JUN-26 (€ BN) (€ BN) incl. hedges) South 0.2 7.1 1.9 years America Turkey 4.9 3.5

  40. Slide 40: NII Sensitivity to Interest Rates Movements

    2Q26 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 +/– c. 4% +/- 2.4% Note: NII sensi

  41. Slide 41: Liquidity and Funding Ratios

    2Q26 EARNINGS ANNEX - ALCO PORTFOLIO, NII SENSITIVITY AND LCRS & NSFRS Liquidity and Funding Ratios BBVA GROUP AND SUBSIDIARIES LCR & NSFR (JUN-26) LCR NSFR Total Group 174% / 145% 1 125% Loan To Both LCR and NSFR Deposit significantly above the BBVA, S.A. 180% 116% 98% 100% requirements, at a Group

  42. Slide 42: CET1 Sensitivity to Market Impacts

    6 CET1 Sensitivity to Market Impacts

  43. Slide 43: CET1 Sensitivity to Market Impacts

    2Q26 EARNINGS ANNEX - CET1 SENSITIVITY TO MARKET IMPACTS CET1 Sensitivity to Market Impacts1 TO A 10% CURRENCY DEPRECIATION2 (JUN-26) MXN TRY USD ー 15 bps ー 3 bps +14 bps TO +100 BPS MOVEMENT IN TO +100 BPS MOVEMENT IN THE THE SPANISH SOVEREIGN BOND MEXICAN SOVEREIGN BOND (JUN-26) (JUN-26) ー 8 bps ー

  44. Slide 44: RWAs by Business Area

    7 RWAs by Business Area

  45. Slide 45: Risk-Weighted Assets by Business Area

    2Q26 EARNINGS ANNEX - RWAS BY BUSINESS AREA Risk-Weighted Assets by Business Area BREAKDOWN BY BUSINESS AREA Fully-Loaded RWAs Δ (%) (€M) Jun-25 Mar-26 Jun-26 vs. Jun-25 vs. Mar-26 Spain 120,209 117,752 120,207 0.0% 2.1% Mexico 88,043 83,745 87,755 -0.3% 4.8% Turkey 66,656 74,171 77,402 16.1% 4.4% S

  46. Slide 46: Book Value of the Main Subsidiaries

    8 Book Value of the Main Subsidiaries

  47. Slide 47: Book Value of the Main Subsidiaries

    2Q26 EARNINGS ANNEX - BOOK VALUE OF THE MAIN SUBSIDIARIES Book Value of the Main Subsidiaries1,2 (€ BN; JUN-26) Δ (%) QoQ Mexico +6.1% Turkey +4.9% Colombia +12.5% Peru +10.1% Argentina +2.8% Uruguay +4.8% Chile -4.3% Venezuela +18.7% (1) Includes the initial investment + BBVA’s undistributed result

  48. Slide 48: MREL

    9 MREL

  49. Slide 49: Sound MREL Position

    2Q26 EARNINGS ANNEX - MREL Sound MREL Position POSITION AS OF JUN-26 (% RWA1) MREL REQUIREMENT + CBR SUBORDINATION REQUIREMENT + CBR 29.96% 27.66% 26.83% 3.72% CBR3 17.22% CBR3 % 23.94 MREL 3.72% Subordination 13.50% Total Requirement Eligible instruments 2 Total Requirement Eligible instruments 2 M

  50. Slide 50: Medium-Term Strategic Objectives

    10 Medium-Term Strategic Objectives

  51. Slide 51: Business Units Financial Goals

    2Q26 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

  52. Slide 52: CET1 expected generation & uses of capital

    2Q26 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

  53. Slide 53: BBVA

    BBVA

Banco Bilbao Vizcaya Argentaria — Q2 2026 Earnings Presentation on 6ix