BBVA net interest income reaches €8.08 billion in third quarter

The Tip Desk · October 31, 2026 · 2 min read

Sequential NII expansion continued while attributable profit slipped to €3.02 billion on higher costs and provisions.

BBVA (BBVA) posted net interest income of €8,079 million in the third quarter of 2026, up from €7,627 million in the second quarter, extending the sequential expansion that had taken NII from €7,537 million in the first quarter.

Net attributable profit was €3,015 million, still above €3,000 million, as higher operating expenses and loan-loss provisions offset stronger recurring revenue and net trading income. Adjusted earnings were €0.53 a share.

Operating expenses rose to €4,168 million from €3,951 million, with personnel costs at €2,215 million and other administrative expenses at €1,519 million. Impairment on financial assets increased to €1,947 million from €1,677 million, reversing the second-quarter dip from €1,820 million in the first quarter. Net fees and commissions were €2,337 million and net trading income €596 million.

Gross loans and advances to customers stood at €540,767 million at 30 September 2026. Year-to-date loan growth was 14.6%, with corporate loans up 19.9% and loans to individuals up 6.8%. Customer deposits were €539,563 million and total customer funds €782,741 million, with time deposits up 20.7% year-to-date.

The CET1 ratio declined to 12.21% at 30 September from 12.90% at 30 June, still above the 11.5%–12.0% target range, as buybacks continued. A new €2 billion extraordinary share buyback was launched in two €1 billion tranches; the first ran from 5 August to 1 October and the second began on 14 October, on top of the nearly €4 billion program executed from December 2025 to 3 August. An interim 2026 dividend of €0.37 gross a share was paid on 15 October. Shares outstanding fell to 5,511 million from 5,581 million.

Cost of risk was 1.44% for the nine months to September versus 1.43% for the six months to June. The NPL ratio was 2.6% and NPL coverage 84% at 30 September. The nine-month efficiency ratio was 37.9%, 9 bps better year-on-year at constant exchange rates; excluding VAT re-estimation and 2026 voluntary redundancies it would have improved 81 bps. ROE was 20.8% for the nine months.

Corporate & Investment Banking generated €3,082 million of net attributable profit in the first nine months, up 19.0% excluding currency. Mexico contributed €4,522 million, Turkey €789 million, South America €821 million, Rest of Business €801 million and Spain €3,106 million. The Corporate Center loss widened to €974 million, associated with higher personnel expenses.