BBVA Posts Higher Profit on Top-Line Growth
By Adria Calatayud
BBVA reported a higher net profit for the third quarter, after strong lending activity in its key Spanish and Mexican businesses boosted revenue growth.
The Spanish lender--formally called Banco Bilbao Vizcaya Argentaria--said Thursday that net profit for the quarter was 3.015 billion euros ($3.36 billion) compared with 2.53 billion euros for the same period last year. Analysts had forecast profit at 3.01 billion euros, according to consensus estimates compiled by the bank.
BBVA attributed the increase to growth in recurring revenue and net trading income, even if the figure declined compared with the prior quarter due to higher costs and loan-loss provisions.
Gross income--the bank's top-line figure--climbed 20% to 10.91 billion euros, with all income lines contributing to the rise. Analysts had expected 10.765 billion euros, according to the same consensus.
Net interest income--the difference between what banks earn on loans and pay on deposits--jumped 22% to 8.08 billion euros, driven by lending growth in Mexico and Spain. Net fee income and net trading income, meanwhile, rose 13% and 12%, respectively.
BBVA said it is on track to hit its 2025-2028 targets.
Write to Adria Calatayud at adria.calatayud@wsj.com
(END) Dow Jones Newswires
October 29, 2026 02:30 ET (06:30 GMT)
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