Spain's BBVA Posts Jump in Profit on Sustained Loan Growth

By Elena Vardon

Banco Bilbao Vizcaya Argentaria reported a rise in profit on continued lending growth and a steady performance in its largest markets.

The Spanish bank, which makes most of its business from outside of Europe, posted a net profit of 2.99 billion euros ($3.49 billion) for the first quarter of the year, up 11% compared with a year prior. This surpassed expectations of a 2.80 billion-euro figure taken from a company-compiled consensus.

Gross income--its top-line figure--rose 14% to 10.65 billion euros, also beating analyst forecasts of a 10.05 billion-euro result. The increase was driven by double-digit growth in net interest income--what it earns from loans minus what it pays out on client deposits--as well as higher net fees and commissions from its asset management, payments and insurance operations.

BBVA saw loan growth across both the business and consumer segments in Spain and Mexico, which represent roughly two thirds of its revenue. The bank also flagged better results at its units in Turkey and in South America, adding that its corporate and investment banking operations continue to expand.

"Our results this quarter indicate that we are making progress in the execution of our strategic plan and are on track to achieve the goals set for 2028," Chief Executive Onur Genc said.

Write to Elena Vardon at elena.vardon@wsj.com

(END) Dow Jones Newswires

April 30, 2026 01:46 ET (05:46 GMT)