BBVA (Banco Bilbao Vizcaya Argentaria, S.A.) is one of Europe’s major financial institutions, established in Bilbao in 1857. The group operates as a comprehensive banking and financial services provider with activities spanning retail banking, wholesale/commercial banking, and asset management. Its proposition combines traditional banking infrastructure with large-scale digital delivery—customers can ...BBVA (Banco Bilbao Vizcaya Argentaria, S.A.) is one of Europe’s major financial institutions, established in Bilbao in 1857. The group operates as a comprehensive banking and financial services provider with activities spanning retail banking, wholesale/commercial banking, and asset management. Its proposition combines traditional banking infrastructure with large-scale digital delivery—customers can access many services through online and mobile channels in addition to physical branches.
From a business perspective, BBVA earns revenue across core banking products such as deposit accounts and lending. The company offers everyday current accounts and a variety of deposit types (including demand, savings, overnight, time, term, and subordinated deposits), supported by credit and loan solutions for individuals and businesses. BBVA also participates in securities activities and provides services related to pension and investment funds, aligning with its asset-management and investment offering. In addition, the group provides financial products commonly associated with a universal bank: credit cards, corporate and investment banking solutions, insurance products, and real-estate-related services.
Product and service delivery is multi-channel. The company serves customers through a broad physical footprint (the provided dataset references 6,083 branches and 29,148 ATMs as of December 31, 2021) and also through digital platforms, which supports scalability and customer access across regions.
In terms of scale, BBVA employs over 127,000 people worldwide (127,174 cited in the provided information), placing it in the highest employment band. Financial-market information from the dataset indicates BBVA trades on the New York Stock Exchange as an ADR under the symbol BBVA, with a market capitalization on the order of hundreds of billions of USD (marketCap provided) and various valuation and profitability ratios typical of a large, diversified banking institution. The provided figures also reflect the bank’s profitability and returns profile (e.g., ROE and ROA metrics) and broader leverage and liquidity indicators commonly monitored by investors for banks.
Leadership and governance include CEO Onur Genç, with the group operating under a global structure supported by regional operations. Overall, BBVA’s strategy centers on providing a diversified suite of financial services—combining lending, deposits, investments, and related financial products—delivered at scale through both branch networks and digital channels, while operating across multiple countries and market segments.
Patricia Bueno: Good morning, everyone, and welcome to BBVA's second quarter results presentation. Joining me today are our CEO, Onur Genc; and the Group CFO, Luisa Gomez Bravo. As in previous quarters, Onur and Luisa will begin by reviewing the quarterly figures. After which, we will open the line for the live Q&A session. With that, I turn it over to Onur.
Onur Genç: Thank you, Patricia. Good morning to everyone. Welcome, and thank you for joining BBVA's Second Quarter 2026 Earnings Webcast. Before we begin, I would like to say a few words about Luisa as this is her last results presentation as the CFO of BBVA. And in very short few sentences, we are a 169-year-old bank, built by generations of exceptional professionals in my view, exceptional professionals like you, Luisa. And over the past few years, we have delivered some of the best results in our history. And I would like to recognize the fact that you have been one of the architects of that success. So I'm very pleased that you will continue to be connected to the bank as a Board member of some of our most important subsidiaries so that we can continue to benefit from your experience and judgment. So in short, Luisa, thank you for your leadership, your professionalism, everything you have done for this institution. It has been a true privilege to work with you. Now let me start with the quarterly results. In short, once again, we have demonstrated in my view, the strength of BBVA's business model. We have delivered record earnings, industry-leading profitability, strong activity growth, exceptional activity growth. and capital generation while reinforcing our competitive position across different geographies. So let me start with Slide #3. One of the most important messages for the quarter. As always, we continue to deliver outstanding value creation for our shareholders. On the left-hand side of the page, you can see the strong evolution of tangible book value per share plus dividends, which increased by 17.3% year-over-year and 5.4% in the quarter. Very strong figures, which are even better if you exclude the impact of the share buybacks, then the growth goes up to 21.8% year-over-year, an outstanding figure. This strong value creation was mainly supported by the record earnings, obviously, together with a positive contribution from the exchange rates in the quarter, particularly the appreciation of the Mexican peso. On the right-hand side of the page, our profitability ratios, they have further improved, reaching a return on tangible equity of 22.2% and a return on equity of 21.1% for the first half of the year, placing BBVA as one of the most profitable large bank in Europe. On Page #4, on the left-hand side, another record quarter, as we discussed in net attributable profit, reaching EUR 3.062 billion, 11.4% increase year-over-year and 2.4% growth versus the previous quarter. Earnings per share at the bottom, it grew even better at 15.2% year-over-year, thanks to the share buyback …
