1Ǫ26 Earninas
April 30, 2026
1Q26 EARNINGS
Excellen" Value Crea"ion and Wrot"abili"y
TBV + DIVIDENDS
(€ / SHARE1)
+14.7%
+5.0%
+18.1%
YoY ex-SBB
9.14
10.01
10.49
0.922
9.57
Mar-25
Dec-25
Mar-26
TBV / share
Dividends / share
PROFITABILITY METRICS
(%)
ROTE
20.2
21.7
19.3
ROE
19.3
20.7
18.4
3M25
2025
3M26
Total number of shares considered: 5,751m as of Mar-25, 5,626m as of Dec-25 and 5,573m as of Mar-26.
Gross dividend per share: 0.32€ paid in Nov-25 and 0.60€ paid in Apr-26.
p. 3
1Q26 EARNINGS
Ano"her very S"rona Ǫuar"er in Wrot" and Capi"al Genera"ion
NET ATTRIBUTABLE PROFIT
(CURRENT €M)
+10.8%
+18.0%
2,698
2,989
1Q25
4Q25
1Q26
EPS (€)1 0.45
0.42
0.51
2,533
CET1 RATIO
(%)
+13bps
12.83%
12.70%
Target Range
11.5%-12.0%
SREP Requirement
8.98%
Dec-25
Mar-26
p. 4
EPS calculated according to IAS33.
1Q26 EARNINGS
1Ǫ26 Key Financial Messaaes
Strong ac"ivi"y drives Ne" In"eres" Income growth
Excellent Fee Income evolution
NET INTEREST INCOME
+20.2
% vs. 1Q25
CONSTANT
+15.5
NET FEES AND COMMISSIONS
% vs. 1Q25
CONSTANT
TOTAL LOAN GROWTH1
+17.0% vs. 1Q25
CONSTANT
Positive jaws and leading Efficiency Ra"io
EFFICIENCY RATIO
38.0%
Sound Asse" Ǫuali"y metrics
COST OF RISK
1.54%
Solid Capi"al Wosi"ion
CET1 RATIO
12.83% vs. 11.5%-12% TARGET RANGE
p. 5
(1) Performing loans under management excluding repos.
1Q26 EARNINGS
1Ǫ26 Wrot" & Woss
Change Change
1Q26/1Q25 1Q26/4Q25
BBVA GROUP (€M) Net Interest Income | 1Q26 7,537 | % const. 20.2 | % 17.8 | % const. 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 Income | 10,652 | 18.3 | 14.2 | 4.3 | 8.8 | |
Operating Expenses | -4,049 | 17.5 | 13.7 | -1.6 | 1.9 | |
Operating Income | 6,604 | 18.7 | 14.6 | 8.3 | 13.4 | |
Impairment on Financial Assets | -1,820 | 35.0 | 31.4 | -0.3 | 4.3 | |
Provisions and Other Gains and Losses | -62 | 113.0 | 113.9 | -57.7 | -57.1 | |
Income Before Tax | 4,722 | 12.8 | 8.6 | 14.5 | 20.0 | |
Income Tax | -1,534 | 8.4 | 4.6 | 15.5 | 20.9 | |
Non-controlling Interest | -199 | 32.8 | 8.1 | 33.1 | 50.9 | |
Net Attributable Profit | 2,989 | 14.1 | 10.8 | 12.9 | 18.0 | |
p. 6 |
1Q26 EARNINGS
Remarkable Grow"h Trend in Revenues
NET INTEREST INCOME (CONSTANT €M)
+20.2%
+2.9
%
NII growth driven by strong activity and price management
NET FEES AND COMMISSIONS (CONSTANT €M)
+15.5%
+0.9%
Positive fee income trend levered on payments, asset management and higher insurance and CIB contribution
NET TRADING INCOME (CONSTANT €M)
+1.1%
+26.2
%
NTI driven by positive dynamism in Global Markets
GROSS INCOME (CONSTANT €M)
+18.3%
+4.3
%
Solid gross income growth mainly due to positive core revenues evolution
p. 7
1Q26 EARNINGS
Resilien" NII despite Declining Rates Thanks to Solid Loan Growth and Effective Price Management
TOTAL LOAN GROWTH1
(MAR-26, YOY, CONSTANT €)
BBVA CUSTOMER SPREADS
(%)
ECB Deposit Rate2 4.0%
NET INTEREST INCOME
(%, CONSTANT €)
+3.6%
Spain
+6.3%
3.44
3.19
2.82
ECB Deposit Rate2 2.0%
1,598 1,656
1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26
Mexico
+8.4%
11.70
Banxico Policy Rate2 11.0%
11.00
10.89
Banxico Policy Rate2 6.75%
+8.3%
2,895 3,136
1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26
(1) Performing loans under management, excluding repos. Mexico according to local GAAP (2) End of period
p. 8
1Q26 EARNINGS
Positive Jaws and Leading Efficiency Ratio
POSITIVE JAWS
(3M26 YOY, CONSTANT €)
FOOTPRINT
+18.3%+17.5%
INFLATION1
8.9%
12M AVERAGE
+13.9%
excl. voluntary redundancies
Gross Income
Operating Expenses
EFFICIENCY RATIO
(COST-TO-INCOME, % CONSTANT €)
-24bps
38.3
38.0
36.8%
excl. voluntary redundancies
3M25
3M26
(1) Weighted by operating expenses and excluding Venezuela.
p. 9
1Q26 EARNINGS
Sound Asse" Ǫuali"y Me"rics
FINANCIAL ASSETS IMPAIRMENTS
(CONSTANT €M)
1,348
1,470
1,645
1,825
1,820
1Q25
2Q25
3Q25
4Q25
1Q26
NPL
(CURRENT €BN)
14.3
14.6
14.3
14.8
15.2
Mar-25
Jun-25
Sep-25
Dec-25
Mar-26
COST OF RISK
(%, QUARTERLY)
1.52%
1.54 %
1.30%
1.33%
1Q25
2Q25
3Q25
4Q25
1Q26
1.41%
NPL & COVERAGE RATIOS
(%)
82%
81%
84%
85% 86%
COVERAGE
NPL
2.9% 2.9% 2.8% 2.7% 2.6 %
Mar-25 Jun-25 Sep-25
Dec-25 Mar-26
p. 10
1Q26 EARNINGS
Our Solid Capi"al Wosi"ion Underpins
Already completed two tranches of the SBB approved in Dec-25 for
2.5 billion €
Attractive Shareholder's Remuneration
CET1 RATIO
(%, BPS)
+13bps
+75 bps -40 bps
12.70%
-34 bps
+12 bps 12.83%
Target Range
11.5%-12.0%
SREP
Requirement
8.98%
Dec-25
Results
Dividend accrual & AT1 coupons
RWAs
(constant €)
Others1
Mar-26
Third tranche to start early next week, for
c.1.5billion €
(1) Includes, among others, FX, mark to market of HTC&S portfolios, minority interests, and a positive impact in OCI equivalent to the Net Monetary Position value loss in hyperinflationary economies registered in results.
p. 11
1Q26 EARNINGS
8
THE
ROBOT 4
Operations & Processes
ROBOT 1
Blue: Personal Advisor for every client
ROBOT 2
AI for the Banker -relationship manager companion
ROBOT 3
Risk
ROBOT 5
Software development
CLIENTS
Smart multimodal advisors
Hyper personalization
PROCESSES
Smart E2E automation New processes definition
EMPLOYEES
Empower our employees with AI tools
POSITIVE EARLY IMPACTS
ー Blue: revamped rollout in ー 30% time reduction in 2H26 Claims Resolution in
ー Individualized smart MEX
servicing prompts in ー 50% time reduction in
global App coding of our new payments platform
ー Usage: 70% Monthly and 55% weekly active average users
ー 2-3 hours average weekly savings per employee
Advancina in "he Execu"ion ofi our AI Transfiorma"ion S"ra"eay
ROBOT 6
Connected employees
PILLAR 7
"Data-rich" company
PILLAR 8
AI
Architecture & Tech Capabilities
Indus"rializina "he crea"ion, aovernance, and opera"ion ofi AI aaen"s a" scale across "he bank
p. 12
1Q26 EARNINGS
Group Financial Goals Evolu"ion
ROTE
(%, CURRENT €)
GOAL
c.22%
AVG. 2025-2028
2025-3M26 avg
19.8%
TBV + DIV PER SH.
(%, CURRENT €)
GOAL
Mid-"eens
CAGR 2024-2028
CAGR 2024-3M26
14.2% 16.6%
ex- SBB
C/I RATIO
(%, CURRENT €)
40%
38%
3M26
GOAL
c.35%
2024 2025 2026 2027 2028
NET ATTRIBUTABLE PROFIT
(CURRENT €)
GOAL
c.€48 Bn
CUMULATIVE 2025-2028
€13.5 Bn
CUM. 2025-3M26
Aligned with plan
p. 13
REST OF BUSINESS
Business Areas
SPAIN MEXICO TURKEY SOUTH AMERICA
1Q26 EARNINGS
BUSINESS AREAS
Spain
1Q26 | vs. 1Q25 | vs. 4Q25 | |
Net Interest Income | 1,656 | 3.6 | -1.2 |
Net Fees and Commissions | 605 | 3.5 | -2.4 |
Net Trading Income | 295 | 20.0 | 59.2 |
Other Income & Expenses | 97 | 8.4 | 55.8 |
Gross Income | 2,653 | 5.4 | 4.3 |
Operating Expenses | -894 | 9.7 | -0.9 |
Operating Income | 1,759 | 3.3 | 7.1 |
Impairment on Financial Assets | -165 | 19.4 | -3.7 |
Provisions and Other Gains and Losses | -18 | -28.1 | -73.0 |
Income Before Tax | 1,575 | 2.4 | 12.4 |
Income Tax | -480 | -8.7 | 28.9 |
Net Attributable Profit | 1,095 | 8.1 | 6.4 |
YoY | |
+6.3% | |
Mortgages | +2.8% |
Consumer + Credit Cards | +9.4% |
Very small businesses | +0.3% |
Mid-size companies | +7.6% |
Corporate + CIB | +11.0% |
Public sector | +10.0% |
Others | +8.6% |
KEY RATIOS
CUSTOMER SPREAD (%)
ASSET QUALITY RATIOS (%)
Yield on loans
Coveraae
COST TO INCOME (%) (YtD)
33.7
Cus"omer NWW
spread Ra"io
Cos" ofi deposi"s
RoRWA (%) (YtD)
3.70
(Ǫuar"erly)
CoR
1Q25
4Q25 1Q26
1Q25
4Q25 1Q26
PROFIT & LOSS (€M)
Δ (%)
ACTIVITY (€BN, MAR-26)
LENDING1
CUST.FUNDS1
YoY
+7.8%
Demand Deposits
+5.6%
Time Deposits
+21.8%
Off-BS Funds
+7.6%
Performing loans and Cust.Funds under management, excluding repos.
ー Solid loan growth (+1.2% QoQ), driven by Consumer and Enterprises.
ー Strong NAP, supported by solid core revenues (+3.6% YoY). QoQ trends impacted by seasonal effects.
ー Costs remain well-controlled despite one-off impacts from the voluntary redundancies recorded in 1Q26 (+4.8% YoY excl. voluntary redundancies). Best-in-class efficiency ratio.
ー Sound asset quality, with solid underlying trends in line with expectations. Continued improvement in NPL and coverage ratios.
p. 15
1Q26 EARNINGS
BUSINESS AREAS
PROFIT & LOSS
(CONSTANT €M)
Δ Constant (%)
Net Interest Income
Δ Current (%) 1Q26 vs. 1Q25 vs. 4Q25 vs. 1Q25
3,136 8.3 -0.3 13.3
Other Income & Expenses
Gross Income
204
4,274
44.6
10.3
3.9
1.0
51.0
15.4
Mexico
Net Fees and Commissions
648
6.3
-2.0
11.2
YoY
YoY
Net Trading Income
286
24.0
26.2
29.8
+8.4%
+11.4%
Impairment on Financial Assets
-883
21.4
-0.1
27.0
SMEs
+13.5%
Provisions and Other Gains and Losses
-9
-39.3
-76.8
-36.4
Income Before Tax
2,064
6.8
2.0
11.7
Other Commercial
+5.5%
Income Tax
-611
12.6
4.3
17.8
Net Attributable Profit
1,453
4.5
1.0
9.3
Public sector
+5.3%
KEY RATIOS
CUSTOMER SPREAD (%)
ASSET QUALITY RATIOS (%)
Yield on loans
Coveraae
COST TO INCOME (%) (YtD)
30.8
Cus"omer NWW
spread Ra"io
Cos" ofi deposi"s
(Ǫuar"erly)
CoR
RoRWA (%) (YtD, CONSTANT)
6.95
1Q25
4Q25 1Q26
1Q25
4Q25
1Q26
ACTIVITY (MAR-26; CONSTANT €BN)
LENDING1 CUST.FUNDS1
+7.8%
Mortgages
Demand Deposits
+5.8%
Consumer
Credit Cards
+13.2%
+12.3%
+25.6%
Time Deposits
Off-BS Funds +15.5%
Operating Expenses
-1,318
9.8
2.6
14.8
Operating Income
2,956
10.5
0.4
15.6
Performing loans and Cust.Funds under management, excluding repos, according to local GAAP.
ー Robust loan growth (+10.4% YoY excl. FX effect)2, well balanced across retail and wholesale.
ー Deposits continue to build momentum, led by retail demand deposits
ー Strong revenues performance supports earnings growth. Solid NII (+8.3% YoY) despite declining rates, supported by sound activity, and broad-based fee growth. QoQ evolution affected by seasonality.
ー Outstanding efficiency ratio at 30.8% and solid asset quality.
13.3% YoY appreciation of the MXP against the USD, impacting USD-denominated loans (USD commercial loans represent 27% of BBVA's commercial loan portfolio as of Mar´26).
p. 16
1Q26 EARNINGS
BUSINESS AREAS
Turkey
Gross Income | 1,712 | 35.1 | 19.2 | +33.9% | ||
Operating Expenses | -679 | 17.6 | 2.1 | TL Commercial | ||
Operating Income | 1,033 | 49.8 | 33.8 | |||
Impairment on Financial Assets | -352 | 50.2 | 5.9 | TL Time | ||
Provisions and Other Gains and Losses | -16 | n.s. | -27.0 | |||
Income Before Tax | 666 | 46.9 | 59.2 | TL Retail | +51.0% | |
Income Tax | -354 | 33.8 | 53.9 | |||
Non-controlling Interest | -49 | 60.5 | 55.8 | TL Demand | ||
Net Attributable Profit | 263 | 66.1 | 67.6 |
PROFIT & LOSS
(CURRENT €M)
Net Interest Income
Net Fees and Commissions Net Trading Income
Other Income & Expenses
Of which:
1Q26
1,121
565
146
-120
Δ Current (%)
vs. 1Q25 vs. 4Q25
59.9 19.0
2.7 8.4
18.2 168.3
11.6 48.1
ACTIVITY (MAR-26; CONSTANT €BN; BANK ONLY)
LENDING2
CUST.FUNDS2
YoY1
+14.7%
-12.8%
FC
YoY1
+12.2%
+45.3%
FC Time
FC Demand
+22.1%
+20.8%
+24.1%
+6.6%
Net Monetary Position (NMP) loss | -292 | -16.0 | 123.9 | ||
CPI linkers revenues | 211 | -28.8 | 148.3 | ||
FC (foreign currency) evolution excluding FX impact.
KEY RATIOS
CUSTOMER SPREAD (%)
ASSET QUALITY RATIOS (%)
FC
Coveraae
COST TO INCOME (%) (YtD)
39.6
NWW
Ra"io
TW
(Ǫuar"erly)
CoR
RoRWA (%) (YtD, CURRENT)
1.69
1Q25
4Q25
1Q26
1Q25
4Q25
1Q26
Performing loans and deposits under management, excluding repos, according to local GAAP.
ー TL loans slightly declined in real terms QoQ, amid a more selective stance in consumer lending. FC loans remained flat QoQ.
ー Strong NII growth supported by TL customer spread expansion (+34 bps QoQ) and loan growth.
ー Higher NTI contribution while Fees maintained a positive momentum,
led by payments, asset management and brokerage.
ー CoR remained broadly stable QoQ.
Note: Inflation rate 10.0% in 1Q26 vs 4.4% 4Q25 and 10.1% in 1Q25.
p. 17
1Q26 EARNINGS
BUSINESS AREAS
Sou"h America
NET ATTRIBUTABLE PROFIT
(CURRENT €M)
ACTIVITY (MAR-26; CONSTANT €BN)
LENDING1
CUST.FUNDS1
YoY
+15.0%
YoY
+17.7%
Colombia
+6.9%
+8.7%
Colombia
+8.2%
Peru
+14.4%
Peru
Argentina Other
+62.0%
+52.3%
+15.3%
Argentina
Other
+6.1%
Δ Current (%)
1Q26 vs. 1Q25 vs. 4Q25
Colombia 78 137.6 274.1
Peru 81 -2.6 20.2
Argentina 27 -45.9 -7.1
South America 249 16.3 78.0
Other ¹ 62 31.3 -58.7
(1) Other includes BBVA Forum (Chile), Venezuela, Uruguay and Brazil.
KEY RATIOS
CUSTOMER SPREAD (%) COST OF RISK (Quarterly, %)
COL
PER ARG
COST TO INCOME (%) (YtD)
41.6
RoRWA (%) (YtD, CURRENT)
2.73
(1) Performing loans and Cust.Funds under management, excluding repos.
COL
ー Strong NAP performance, supported by robust core revenues
growth and lower impairments.
PER
ー Solid NAP, driven by NII growth,- activity and customer spread expansion-, alongside strong fees and sound asset quality trends.
ARG
ー NAP supported by core revenues, with CoR still elevated but expected to gradually improve.
1Q25
4Q25
1Q26
1Q25 4Q25
1Q26
Note: Inflation rate ARG: 8.7% in 1Q26 vs 7.8% in 4Q25 and 8.5% in 1Q25.
p. 18
1Q26 EARNINGS
BUSINESS AREAS
Res" ofi business
PROFIT & LOSS
(CONSTANT €M)
Δ (%)
Net Interest Income | 232 | 27.0 | 0.5 |
Net Fees and Commissions | 201 | 51.5 | 22.2 |
Net Trading Income | 161 | 56.5 | 38.8 |
1Q26 vs. 1Q25 vs. 4Q25
ACTIVITY (MAR-26; CONSTANT €BN)
LENDING1
YoY
+54.5%
CUST.FUNDS1
YoY
+38.5%
Other Income & Expenses | 0 | -60.9 | -85.0 | CIB US | +58.1% |
Gross Income | 595 | 41.8 | 15.7 | ||
Operating Expenses | -239 | 30.3 | -17.6 | ||
Operating Income | 355 | 50.7 | 58.6 |
CIB +15.6%
Impairment on Financial Assets | -51 | 182.3 | 35.1 | CIB Europe/UK | +44.2% | ||
Provisions and Other Gains and Losses | -4 | n.s. | -58.9 | ||||
Income Before Tax | 300 | 35.9 | 70.7 | Digital Banks | +123.6% | ||
Income Tax | -64 | 35.3 | 245.3 | CIB Asia | +83.3% | Other | +13.2% |
Rest of business includes mainly CIB business in US, Europe & Asia and digital banks (Italy, Germany).
KEY RATIOS
ASSET QUALITY RATIOS (%)
Other 6.7%
d Cust.Funds u
(1) Performing loans an nder management, excluding repos.
(1) Performing loans and Cust.Funds under management, excluding repos.
ー Solid loan growth (+12.7% QoQ), well-balanced across geographies,
driven by Corporate Lending and Project Finance.
ー Strong NAP growth, driven by robust Gross Income evolution.
Coveraae
NWW
Ra"io
CoR
COST TO INCOME (%)
(YtD)
40.2
RoRWA (%)
(YtD, CONSTANT)
2.01
ー Positive jaws, despite costs growth related to the strategic plan roll-out.
ー Impairments increased due to higher coverage on specific exposures, bringing CoR to 30 bps.
(Ǫuar"erly)
1Q25
4Q25
1Q26
ー FY2026 CoR expected at around 20 bps.
p. 19
Net Attributable Profit 236 36.0 50.0
1Q26 EARNINGS
Takeaways
Outstanding Value Creation and
Profitability metrics
Net Attributable Profit continues its excellent trajectory
Strong Core revenues evolution on the back of activity growth
Advancing in the execution of our
Strategy
Continued CET1 capital generation
On track to achieve our ambitious
2025-2028 Goals
Upda"ed 2026
Ou"look
GROUP
MEXICO
TURKEY
>20%
ROTE
Loans: high single digit growth, with upward bias
Net Profit: around €1 billion, with downward bias
REST OF BUSINESS
Loans:
30% growth
Gross Income:
30% growth
Improved Guidance
p. 20
Annex
1
2
3
4
P&L Accounts by Business Area Customer Spread by Country Stages Breakdown by Business Area
5
ALCO Portfolio, NII Sensitivity and LCRs & NSFRs CET1 Sensitivity to Market Impacts
RWAs by Business Area
6
7
8
9
Book Value of the Main Subsidiaries MREL
Medium-Term Strategic Objectives
1
W&W Accoun"s by Business AreaCorporate Center
Turkey
(hyperinflation adjustment)
Argentina
(hyperinflation adjustment)
Colombia
Peru
1Q26 EARNINGS ANNEX - P&L ACCOUNTS BY BUSINESS AREA
Corpora"e Cen"er
PROFIT & LOSS (€M) 1Q26 Net Interest Income -83 | vs. 1Q25 -6.4 | vs. 4Q25 -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 | |
Operating Expenses1 -242 | 27.1 | -9.0 | |
Operating Income -450 | 95.3 | 11.3 | |
Impairment on Financial Assets 4 | n.s. | n.s. | |
Provisions and Other Gains and Losses 3 | -18.6 | n.s. | |
Income Before Tax -443 | 94.7 | 9.6 | |
Income Tax 145 | 271.1 | 95.5 | |
Non-controlling Interest -7 | 6.9 | 268.0 | |
Net Attributable Profit -305 | 56.5 | -8.1 | |
Expenses growth (in current): -5.6% YoY excl. voluntary redundancies | p. 23 |
Δ (%)
(1)
1Q26 EARNINGS ANNEX - P&L ACCOUNTS BY BUSINESS AREA
Turkey - Hyperinflation Adjustment
PROFIT & LOSS (€M) Net Interest Income | (reported) (1) 1,121 | adjustment (2) 23 | Ex.Hyperinflation 1,098 |
Net Fees and Commissions | 565 | 13 | 552 |
Net Trading Income | 146 | 35 | 111 |
Other Income & Expenses | -120 | -356 | 236 |
Gross Income | 1,712 | -285 | 1,997 |
Operating Expenses | -679 | -41 | -637 |
Operating Income | 1,033 | -326 | 1,360 |
Impairment on Financial Assets | -352 | -8 | -344 |
Provisions and Other Gains and Losses | -16 | -7 | -8 |
Income Before Tax | 666 | -342 | 1,007 |
Income Tax | -354 | -53 | -301 |
Non-controlling Interest | -49 | 55 | -104 |
Net Attributable Profit | 263 | -339 | 601 |
3M26
Hyperinflation
3M26
3M26 reported figures calculated according to end of period FX.
Mainly includes: (i) the Net Monetary Position (NMP) loss in the Other Income heading (ii) re-expression of all P&L headings according to the inflation rate until end of period, (iii) amortization expenses after the non-monetary assets revaluation, (iv) impact of applying the conversion exchange rate fixing instead of average.
p. 24
1Q26 EARNINGS ANNEX - P&L ACCOUNTS BY BUSINESS AREA
Araen"ina - Hyperinflation Adjustment
PROFIT & LOSS (€M) Net Interest Income | (reported) (1) 539 | adjustment (2) 32 | Ex.Hyperinflation 507 |
Net Fees and Commissions | 111 | 7 | 104 |
Net Trading Income | 50 | -7 | 57 |
Other Income & Expenses | -223 | -155 | -68 |
Gross Income | 477 | -122 | 599 |
Operating Expenses | -235 | -25 | -210 |
Operating Income | 241 | -148 | 389 |
Impairment on Financial Assets | -177 | -11 | -166 |
Provisions and Other Gains and Losses | -1 | -1 | 0 |
Income Before Tax | 63 | -160 | 223 |
Income Tax | -20 | 56 | -75 |
Non-controlling Interest | -16 | 36 | -52 |
Net Attributable Profit | 27 | -68 | 96 |
3M26
Hyperinflation
3M26
3M26 reported figures calculated according to end of period FX.
Mainly includes: (i) the Net Monetary Position (NMP) loss in the Other Income heading (ii) re-expression of all P&L headings according to the inflation rate until end of period, (iii) amortization expenses after the non-monetary assets revaluation, (iv) impact of applying the conversion exchange rate fixing instead of average.
p. 25
1Q26 EARNINGS ANNEX - P&L ACCOUNTS BY BUSINESS AREA
Colombia
Δ (%) | ||||
PROFIT & LOSS (€M CONSTANT) Net Interest Income | 1Q26 296 | vs. 1Q25 23.6 | vs. 4Q25 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 Expenses | -144 | 9.5 | -1.6 | |
Operating Income | 218 | 40.2 | 47.8 | |
Impairment on Financial Assets | -91 | -18.1 | -6.2 | |
Provisions and Other Gains and Losses | -3 | n.s. | n.s. | |
Income Before Tax | 124 | 179.6 | 108.5 | |
Income Tax | -44 | n.s. | 17.8 | |
Non-controlling Interest | -2 | n.s. | 39.4 | |
Net Attributable Profit | 78 | 133.0 | 274.0 | |
p. 26 |
1Q26 EARNINGS
Δ (%)
Weru
ANNEX - P&L ACCOUNTS BY BUSINESS AREA
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 | -208 | 10.9 | -3.4 | |
Operating Income | 330 | 9.6 | 10.7 | |
Impairment on Financial Assets | -78 | 15.0 | 7.7 | |
Provisions and Other Gains and Losses | -9 | n.s. | -47.3 | |
Income Before Tax | 243 | -1.8 | 16.3 | |
Income Tax | -69 | -5.2 | 14.8 | |
Non-controlling Interest | -94 | 0.0 | 13.4 | |
Net Attributable Profit | 81 | -0.8 | 21.2 | |
p. 27 |
2
Cus"omer Spread by Coun"ry1Q26 EARNINGS ANNEX - CUSTOMER SPREAD BY COUNTRY
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% |
Cost of Deposits | -0.66% | -0.60% | -0.57% | -0.59% | -0.58% |
Mexico MXN | 12.00% | 11.96% | 11.98% | 12.01% | 11.74% |
Yield on Loans | 14.99% | 14.71% | 14.42% | 14.26% | 14.02% |
Cost of Deposits | -2.99% | -2.75% | -2.45% | -2.25% | -2.28% |
Mexico FC1 | 5.44% | 5.25% | 5.24% | 4.98% | 4.79% |
Yield on Loans | 6.23% | 6.14% | 6.21% | 5.89% | 5.69% |
Cost of Deposits | -0.79% | -0.90% | -0.97% | -0.91% | -0.90% |
Turkey TL | 1.46% | 1.04% | 1.00% | 1.68% | 2.02% |
Yield on Loans | 37.76% | 37.56% | 36.53% | 34.90% | 33.72% |
Cost of Deposits | -36.30% | -36.53% | -35.53% | -33.23% | -31.70% |
Turkey FC1 | 7.85% | 7.90% | 7.88% | 7.57% | 7.35% |
Yield on Loans | 8.13% | 8.31% | 8.23% | 7.83% | 7.57% |
Cost of Deposits | -0.28% | -0.41% | -0.35% | -0.27% | -0.22% |
Argentina | 17.13% | 16.73% | 14.02% | 17.24% | 17.41% |
Yield on Loans | 29.96% | 30.98% | 32.37% | 34.57% | 30.40% |
Cost of Deposits | -12.82% | -14.25% | -18.35% | -17.33% | -12.98% |
Colombia | 5.31% | 5.64% | 5.81% | 6.11% | 6.02% |
Yield on Loans | 12.25% | 12.26% | 12.23% | 12.30% | 12.49% |
Cost of Deposits | -6.93% | -6.62% | -6.42% | -6.19% | -6.47% |
Peru | 7.24% | 7.22% | 7.26% | 7.42% | 7.62% |
Yield on Loans | 9.04% | 9.02% | 9.02% | 9.17% | 9.28% |
Cost of Deposits | -1.80% | -1.80% | -1.76% | -1.76% | -1.65% |
Cus"omer Spreads: Quarterly Evolution
(1) FC: Foreign Currency.
p. 29
3
S"aaes Breakdown by Business Area1Q26 EARNINGS ANNEX - STAGES BREAKDOWN BY BUSINESS AREA
S"aaes Breakdown by Business Areas
CREDIT RISK BREAKDOWN BY AREA
(MAR-26, € M)
BBVA GROUP
Gross Exposure
Accumulated impairments SPAIN
Gross Exposure
Accumulated
impairments MEXICO
Gross Exposure
Accumulated impairments
Stage 1 | 521,734 | 2,578 |
Stage 2 | 35,375 | 2,155 |
Stage 3 | 15,163 | 8,343 |
Stage 1 | 203,424 | 499 |
Stage 2 | 14,144 | 533 |
Stage 3 | 6,597 | 3,542 |
Stage 1 | 97,376 | 1,388 |
Stage 2 | 7,800 | 761 |
Stage 3 | 2,788 | 1,441 |
TURKEY SOUTH AMERICA REST OF BUSINESS
Stage 1 | 65,993 | 228 |
Stage 2 | 6,485 | 366 |
Stage 3 | 3,130 | 1,710 |
Stage 1 | 53,072 | 392 |
Stage 2 | 4,458 | 309 |
Stage 3 | 2,497 | 1,551 |
Stage 1 | 106,666 | 32 |
Stage 2 | 2,464 | 169 |
Stage 3 | 152 | 98 |
COLOMBIA PERU ARGENTINA
Stage 1 | 17,659 | 103 |
Stage 2 | 1,457 | 122 |
Stage 3 | 808 | 469 |
Stage 1 | 21,699 | 217 |
Stage 2 | 1,919 | 130 |
Stage 3 | 870 | 550 |
Stage 1 | 8,537 | 32 |
Stage 2 | 735 | 37 |
Stage 3 | 622 | 423 |
p. 31
4
AWCO Wor"fiolio, NII Sensi"ivi"y and WCRs & NSFRs1Q26 EARNINGS ANNEX - ALCO PORTFOLIO, NII SENSITIVITY AND LCRS & NSFRS
EURO ALCO PORTFOLIO MATURITY PROFILE (€ BN)
AWCO Portfolio
South America | 0.2 | 6.3 | 1.4 years |
Turkey | 4.9 | 5.8 | 1.8 years |
Mexico | 5.6 | 11.9 | 3.7 years |
Euro1 | 50.8 | 7.5 | 3.2 years |
Spain | 34.4 | 3.2 | |
Italy | 5.4 | 2.7 | |
Rest | 11.0 | 1.6 |
ALCO PORTFOLIO BREAKDOWN BY REGION
(€ BN)
Amort Cost
(HTC)
MAR-26
(€ BN)
Fair Value
(HTC&S)
(duration (€ BN) incl. hedges)
EURO ALCO YIELD
(MAR-26, %)
+3.0%
(1) Figures exclude SAREB senior bonds (€3.6bn as of Mar-25, Dec-25 and Mar-26)
p. 33
1Q26 EARNINGS ANNEX - ALCO PORTFOLIO, NII SENSITIVITY AND LCRS & NSFRS
NII Sensi"ivi"y 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 SHEET
+/- 4-5%
MEXICO
+/-2.5%
Note: NII sensitivities to parallel interest rates movements as of Mar'26 for Euro Balance Sheet and Feb'26 for Mexico, using our dynamic internal model. Mexico NII sensitivity for +/-100 bps breakdown: MXN sensitivity +/-1.7%; USD sensitivity +/-0.8%.
p. 34
1Q26 EARNINGS ANNEX - ALCO PORTFOLIO, NII SENSITIVITY AND LCRS & NSFRS
Wiquidi"y and Fundina Ratios
BBVA GROUP AND SUBSIDIARIES LCR & NSFR
(MAR-26)
LCR
NSFR
Total Group
Loan To Deposit
BBVA, S.A.
167% / 141% 1
165%
155%
125%
116%
131%
93%
Mexico
103%
Turkey2
134%
139%
86%
S. America
All countries
>100%
>100%
94%
Bo"h WCR and NSFR sianitcan"ly above "he 100% requiremen"s,
a" a Group level and in all bankina subsidiaries
Using a more restrictive criterion on this ratio (limiting the LCRs of all of BBVA, S.A.'s subsidiaries to 100%), the resulting consolidated ratio reaches 141%.
Bank-only.
p. 35
5
CET1 Sensi"ivi"y "o Marke" Impac"s1Q26 EARNINGS ANNEX - CET1 SENSITIVITY TO MARKET IMPACTS
CET1 Sensi"ivi"y to Market Impacts1
TO A 10% CURRENCY DEPRECIATION2
(MAR-26)
MXN
ー 15 bps
TRY
ー 2 bps
USD
+12 bps
TO A 10% DECLINE IN TELEFONICA'S SHARE PRICE (MAR-26)
ー 1 bps
TO +100 BPS MOVEMENT IN THE SPANISH SOVEREIGN BOND (MAR-26)
ー 9 bps
TO +100 BPS MOVEMENT IN THE MEXICAN SOVEREIGN BOND (MAR-26)
ー 8 bps
CET1 sensitivity considering the FL capital ratio as of March 31st, 2026
This sensitivity does not include the cost of capital hedges, which are currently estimated at 1 bps per quarter for MXN and 2 bps per quarter for TRY.
p. 37
6
RWAs by Business Area1Q26 EARNINGS ANNEX - RWAS BY BUSINESS AREA
Risk-Weiah"ed Asse"s by Business Area
BREAKDOWN BY BUSINESS AREA (€M) | Fully-Loaded RWAs | Δ (%) | ||||
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% | |
South America | 54,979 | 55,912 | 59,235 | 7.7% | 5.9% | |
Argentina | 11,098 | 10,501 | 12,115 | 9.2% | 15.4% | |
Chile | 2,137 | 2,221 | 2,226 | 4.2% | 0.2% | |
Colombia | 18,788 | 19,171 | 20,112 | 7.0% | 4.9% | |
Peru | 19,270 | 19,856 | 20,202 | 4.8% | 1.7% | |
Others | 3,686 | 4,164 | 4,581 | 24.3% | 10.0% | |
Rest of business | 36,802 | 46,853 | 49,627 | 34.8% | 5.9% | |
Corporate Center BBVA Group | 29,216 395,352 | 20,445 397,241 | 24,324 408,854 | -16.7% 3.4% | 19.0% 2.9% | |
p. 39
7
Book Value ofi "he Main Subsidiaries| Attention: This is an excerpt of the original content. To continue reading it, access the original document here. |