Banco Bilbao Vizcaya Argentaria S.A. (BBVA) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, and welcome, everyone, to BBVA's quarterly audio webcast. As in previous quarters, I am joined today by our CEO, Onur Genç, and the group CFO, Ruiz Agome Bravo. Today, along with the second quarter results, we are also announcing the group's midterm goals. Accordingly, we will dedicate the first part of the call to reviewing the quarterly figures and then move on to our strategic objectives. Finally, we will open the line for your questions. So without further delay, I turn over to Arnold. Thank you. Thank you, Patricia. Good morning to everyone. Welcome and thank you for joining BBVA's second quarter 2025 earnings webcast. As Patricia mentioned, we have two things today, the second quarter results, as always, and we also have medium-term objectives at the end of the presentation. So let me start with the second quarter results and starting with slide number three. You can see in the quarter the strong evolution of tangible book value per share plus dividends on the left-hand side of the page, which increased 14.6% year-over-year and 2.9% in the quarter, very good figures despite the relatively high currency depreciations in the quarter. On the right-hand side, you see our profitability. Our profitability continues to improve and rises to an outstanding return on tangible equity of 20.4% and the return on equity of 19.5% in the first six months of 2025. On page number four, on the left-hand side, another very strong quarter for net attributable profit, reaching €2,749,000,000. despite the falling rates in our core markets, which obviously negatively impacts our results, and despite the currency headwinds, we have managed to sustain our record profit levels. In this profit figure, there are two extraordinary items that I want to make you aware of, which ...