Banco Bilbao Vizcaya Argentaria, S.a. · BME:BBVA

Banco Bilbao Vizcaya Argentaria — BBVA — Q3 2026 Earnings Presentation

53 slides from Banco Bilbao Vizcaya Argentaria's earnings presentation, Oct 29, 2026

  1. Slide 1: 3Q26 Earnings

    3Q26 Earnings October 29, 2026

  2. Slide 2: Disclaimer

    3Q26 EARNINGS Disclaimer This document is only provided for information purposes and is not intended to provide financial advice and, therefore, does not constitute, nor should it be interpreted as, an offer to sell, exchange or acquire, or an invitation for offers to acquire securities issued by any

  3. Slide 3: Excellent Value Creation and Profitability

    3Q26 EARNINGS Excellent Value Creation and Profitability TBV + DIVIDENDS PROFITABILITY METRICS 1 (€ / SHARE ) (%) +14.3% +19.9% ROTE +1.7% YoY 22.0 ex-SBB 19.7 19.3 10.74 10.92 9.55 0.972 9.95 ROE 20.8 18.8 18.4 Sep-25 Jun-26 Sep-26 9M25 2025 9M26 TBV / share Dividends / share p. 3 (1) Total number o

  4. Slide 4: Another very Strong Quarter

    3Q26 EARNINGS Another very Strong Quarter NET ATTRIBUTABLE PROFIT CET1 RATIO (CURRENT €M) (%) +19.1% -20bps -1.5% 3,062 3,015 12.41% 2,531 12.21% Target Range 11.5%-12.0% SREP Requirement3 8.97% 3Q25 2Q26 3Q26 Jun-26 Sep-26 EPS pro-forma EPS (€)1 0.42 0.53 0.52 +23.9% incl. SBB2 YoY p. 4 (1) EPS cal

  5. Slide 5: Outstanding Net Profit with Positive Outlook after Stabilization of Rates

    3Q26 EARNINGS Outstanding Net Profit with Positive Outlook after Stabilization of Rates NET ATTRIBUTABLE PROFIT OFFICIAL INTEREST RATES (CURRENT €M) (POLICY RATE EOP, %) +13.6% 11.25% 9,066 Banxico 10.0% 7,622 7,978 7.0% 6.5% 5,961 4.0% 3.0% 2.5% ECB 2.0% 9M23 9M24 9M25 9M26 2023 2024 2025 Sep-26 p.

  6. Slide 6: Sustained and Superior Profitable Growth

    3Q26 EARNINGS Sustained and Superior Profitable Growth LOAN GROWTH PROFITABILITY (YOY GROWTH, GROSS LOANS IN CURRENT €) (ROTE, %) 20% 22.0% 15% 19.7% 19.3% 10% European 17.0% Peers 1 15.6% European 5% 13.6% Peers 1 % 12.7% 12.9 0% Sep-26 Dic-23 Dic-24 Dic-25 2026 6M26 9M26 BBVA avg. 2023 2024 2025 20

  7. Slide 7: 3Q26 Key Financial Messages

    3Q26 EARNINGS 3Q26 Key Financial Messages TOTAL LOAN GROWTH1 Strong Activity growth +20.4% vs. Sep-25 CONSTANT CORE REVENUES (NII+FEES) Excellent Core Revenues evolution +15.6% vs. 3Q25 CONSTANT EFFICIENCY RATIO Best-in-Class Efficiency Ratio 37.9% 9M26 COST OF RISK (YtD) Stable Asset Quality metrics

  8. Slide 8: 3Q26 Profit & Loss

    3Q26 EARNINGS 3Q26 Profit & Loss Change Change 3Q26/3Q25 3Q26/2Q26 % % BBVA GROUP (€M) 3Q26 const. % const. % Net Interest Income 8,079 16.5 21.7 5.7 5.9 Net Fees and Commissions 2,337 12.4 13.4 2.6 0.9 Net Trading Income 596 5.7 12.3 1.3 2.3 Other Income & Expenses -98 n.a. n.a. n.a. n.a. Gross Inco

  9. Slide 9: 9M26 Profit & Loss

    3Q26 EARNINGS 9M26 Profit & Loss Change 9M26/9M25 % BBVA GROUP (€M) 9M26 const. % Net Interest Income 23,243 17.8 20.8 Net Fees and Commissions 6,909 14.5 13.8 Net Trading Income 2,093 5.6 6.7 Other Income & Expenses -173 -1.6 21.4 Gross Income 32,072 16.3 18.2 Operating Expenses -12,168 16.0 17.4 Op

  10. Slide 10: Remarkable Core Revenues Growth Trend

    3Q26 EARNINGS Remarkable Core Revenues Growth Trend NET INTEREST INCOME (CONSTANT €M) NET FEES AND COMMISSIONS (CONSTANT €M) +16.5% +12.4% +5.7% NII growth +2.6% Sustained fee supported by income growth outstanding activity mainly driven by with an acceleration payments and asset in the last quarter

  11. Slide 11: Loan Growth in Spain and Mexico Drives Net Interest Income

    3Q26 EARNINGS Loan Growth in Spain and Mexico Drives Net Interest Income TOTAL LOAN GROWTH KEY SEGMENTS LOAN NET INTEREST INCOME (YOY, CONSTANT €) GROWTH (CONSTANT €M) (YOY SEP’26, CONSTANT €) +2.3% +9.7 % +1.2% +7.8% +7.3% Spain +9.2% Sep-25 Sep-26 Consumer + Enterprises Credit Cards 3Q25 2Q26 3Q26

  12. Slide 12: Positive Jaws and Leading Efficiency Ratio

    3Q26 EARNINGS Positive Jaws and Leading Efficiency Ratio JAWS EFFICIENCY RATIO (9M26 YOY, CONSTANT €) (COST-TO-INCOME, % CONSTANT €) FOOTPRINT INFLATION1 -9bps -81bps excl. non 9.1 % recurring items2 12M AVERAGE +16.3% +16.0% 38.0 37.9 +13.8% excl. non recurring items2 Gross Operating 9M25 9M26 Income

  13. Slide 13: Stable Asset Quality Metrics

    3Q26 EARNINGS Stable Asset Quality Metrics FINANCIAL ASSETS IMPAIRMENTS NPL (CONSTANT €M) (CURRENT €BN) 1,801 1,959 1,808 1,684 16.0 16.4 1,639 14.8 15.2 14.3 3Q25 4Q25 1Q26 2Q26 3Q26 Sep-25 Dec-25 Mar-26 Jun-26 Sep-26 COST OF RISK NPL & COVERAGE RATIOS (%, YTD) (%) 1.54% 84% 85% 86% 85% 84 % 1.39%

  14. Slide 14: Strong Capital Position and Attractive Shareholder Remuneration

    3Q26 EARNINGS Strong Capital Position and Attractive Shareholder Remuneration CET1 RATIO (%, BPS) -20bps Record interim dividend 12.90 % -49 bps +71 bps -38 bps paid on Oct. 15th -44 bps 37 12.41 12.21 % -9 bps % € cts. / share3 Target Range 11.5%-12.0% Already executing the second SREP 1 billion €

  15. Slide 15: Advancing Our AI Transformation Strategy

    3Q26 EARNINGS Advancing Our AI Transformation Strategy: from Confirming Value to Scaling AI Across the Bank Better customer experience c.90% >50% Successful resolution rate in of in-app chat interactions between clients Physical network workload is shifting towards pilot voice interactions and their

  16. Slide 16: Group Financial Goals Evolution

    3Q26 EARNINGS Group Financial Goals Evolution Aligned with plan ROTE TBV + DIV PER SH. C/I RATIO NET ATTRIBUTABLE (%, CURRENT €) (%, CURRENT €) (%, CURRENT €) PROFIT (CURRENT €) GOAL GOAL 40% GOAL c.22.0% Mid-teens c.€48 Bn AVG. 2025-2028 CAGR 2024-2028 37.9% CUMULATIVE 2025-2028 9M26 2025-9M26 avg

  17. Slide 17: Business Areas

    Business Areas SPAIN MEXICO TURKEY SOUTH AMERICA REST OF BUSINESS

  18. Slide 18: Spain

    3Q26 EARNINGS BUSINESS AREAS Spain Δ (%) Δ (%) ACTIVITY ( SEP-26, €BN) PROFIT & LOSS (€M) 3Q26 vs. 3Q25 vs. 2Q26 9M26 vs. 9M25 LENDING1 CUST.FUNDS1 Net Interest Income 1,709 2.3 1.2 5,055 3.4 Net Fees and Commissions 576 2.5 -2.1 1,770 2.3 YoY YoY Net Trading Income 78 -42.1 -35.8 494 -7.0 +7.3% +7.

  19. Slide 19: Mexico

    3Q26 EARNINGS BUSINESS AREAS Mexico PROFIT PROFIT & & LOSS LOSS Δ Constant (%) Δ Current (%) Δ Constant (%) ACTIVITY (SEP-26; CONSTANT €BN) (CONSTANT (CONSTANT €M) €M) 3Q26 vs. 3Q25 vs. 2Q26 9M26 vs. 9M25 vs. 9M25 LENDING1 CUST.FUNDS1 Net Interest Income 3,361 8.2 2.6 9,826 17.1 8.5 YoY YoY Net Fees

  20. Slide 20: Turkey

    3Q26 EARNINGS BUSINESS AREAS Turkey Δ Current (%) Δ Current (%) PROFIT & LOSS ACTIVITY (SEP-26; CONSTANT €BN; BANK ONLY) (CURRENT €M) 3Q26 vs. 3Q25 vs. 2Q26 9M26 vs. 9M25 Net Interest Income 1,205 45.0 16.8 3,357 57.1 LENDING2 CUST.FUNDS2 Net Fees and Commissions 635 16.7 -0.4 1,837 14.7 YoY1 Net Tr

  21. Slide 21: South America

    3Q26 EARNINGS BUSINESS AREAS South America NET ATTRIBUTABLE PROFIT ACTIVITY (SEP-26; CONSTANT €BN) (CURRENT €M) LENDING1 CUST.FUNDS1 Δ Current (%) Δ Current (%) YoY YoY 3Q26 vs. 3Q25 vs. 2Q26 9M26 vs. 9M25 +14.6% +17.6% Colombia 103 112.2 5.8 278 129.2 Colombia Colombia +8.1% +13.3% Peru 83 18.3 -26

  22. Slide 22: Rest of business

    3Q26 EARNINGS BUSINESS AREAS Rest of business PROFIT & LOSS Δ (%) Δ (%) ACTIVITY (SEP-26; CONSTANT €BN) (CONSTANT €M) 3Q26 vs. 3Q25 vs. 2Q26 9M26 vs. 9M25 LENDING1 CUST.FUNDS1 Net Interest Income 325 47.2 18.4 833 40.2 Net Fees and Commissions 177 15.1 -7.1 569 32.1 YoY YoY Net Trading Income 175 82

  23. Slide 23: Takeaways

    3Q26 EARNINGS Takeaways Outstanding Value Creation and Another very strong quarter of Profitability metrics Financial Results and Delivery Advancing in the execution of our Exceptional Activity growth Strategy with a particular focus on AI Transformation Excellent Core Revenues evolution with On trac

  24. Slide 24: Annex

    Annex 1 P&L Accounts by Business Area 6 CET1 Sensitivity to Market Impacts 2 CIB Business 7 RWAs by Business Area 3 Customer Spread by Country 8 Book Value of the Main Subsidiaries 4 Stages Breakdown by Business Area 9 MREL 5 ALCO Portfolio, NII Sensitivity and LCRs & NSFRs 10 Medium-Term Strategic

  25. Slide 25: P&L Accounts by Business Area

    1 P&L Accounts by Business Area Corporate Center Turkey Argentina Colombia Peru (hyperinflation (hyperinflation adjustment) adjustment)

  26. Slide 26: Corporate Center

    3Q26 EARNINGS ANNEX - P&L ACCOUNTS BY BUSINESS AREA Corporate Center Δ (%) Δ (%) PROFIT & LOSS (€M) 3Q26 vs. 3Q25 vs. 2Q26 9M26 vs. 9M25 Net Interest Income -144 20.9 20.7 -346 14.8 Net Fees and Commissions -35 66.8 -28.5 -109 44.4 Net Trading Income 17 n.s. n.s. -215 15.5 Other Income & Expenses 12

  27. Slide 27: Turkey - Hyperinflation Adjustment

    3Q26 EARNINGS ANNEX - P&L ACCOUNTS BY BUSINESS AREA Turkey - Hyperinflation Adjustment 9M26 Hyperinflation 9M26 PROFIT & LOSS (€M) (reported) (1) adjustment (2) Ex.Hyperinflation Net Interest Income 3,357 84 3,273 Net Fees and Commissions 1,837 50 1,787 Net Trading Income 171 61 109 Other Income & Expe

  28. Slide 28: Argentina - Hyperinflation Adjustment

    3Q26 EARNINGS ANNEX - P&L ACCOUNTS BY BUSINESS AREA Argentina - Hyperinflation Adjustment 9M26 Hyperinflation 9M26 PROFIT & LOSS (€M) (reported) (1) adjustment (2) Ex.Hyperinflation Net Interest Income 1,592 78 1,513 Net Fees and Commissions 332 16 316 Net Trading Income 156 -9 165 Other Income & Expen

  29. Slide 29: Colombia

    3Q26 EARNINGS ANNEX - P&L ACCOUNTS BY BUSINESS AREA Colombia Δ (%) Δ (%) PROFIT & LOSS (€M CONSTANT) 3Q26 vs. 3Q25 vs. 2Q26 9M26 vs. 9M25 Net Interest Income 340 17.5 2.0 988 20.1 Net Fees and Commissions 48 30.1 0.0 137 44.5 Net Trading Income 41 40.5 36.0 97 28.4 Other Income & Expenses -9 -44.2 8

  30. Slide 30: Peru

    3Q26 EARNINGS ANNEX - P&L ACCOUNTS BY BUSINESS AREA Peru Δ (%) Δ (%) PROFIT & LOSS (€M CONSTANT) 3Q26 vs. 3Q25 vs. 2Q26 9M26 vs. 9M25 Net Interest Income 427 10.0 1.6 1,256 11.8 Net Fees and Commissions 94 -3.4 10.4 264 3.8 Net Trading Income 48 -16.1 -20.1 164 -0.6 Other Income & Expenses -14 -14.2

  31. Slide 31: CIB Business

    2 CIB Business

  32. Slide 32: CIB

    3Q26 EARNINGS ANNEX - CIB BUSINESS CIB PROFIT & LOSS ACTIVITY (SEP-26; CONSTANT €BN) Δ Current(%) Δ (%) (CURRENT €M) 3Q26 vs. 3Q25 vs. 2Q26 9M26 vs. 9M25 LENDING1 Net Interest Income 1,224 21.7 11.3 3,343 22.9 Net Fees and Commissions 400 8.1 -5.0 1,295 20.6 YoY Net Trading Income 496 15.0 -11.9 1,7

  33. Slide 33: Customer Spread by Country

    3 Customer Spread by Country

  34. Slide 34: Customer Spreads: Quarterly Evolution

    3Q26 EARNINGS ANNEX - CUSTOMER SPREAD BY COUNTRY Customer Spreads: AVERAGE 3Q25 4Q25 1Q26 2Q26 3Q26 Spain 2.88% 2.80% 2.82% 2.85% 2.87% Yield on Loans 3.45% 3.39% 3.40% 3.43% 3.57% Quarterly Cost of Deposits Mexico MXN -0.57% 11.98% -0.59% 12.01% -0.58% 11.74% -0.58% 11.61% -0.71% 11.53% Evolution Y

  35. Slide 35: Customer Spreads: YtD Evolution

    3Q26 EARNINGS ANNEX - CUSTOMER SPREAD BY COUNTRY Customer spreads: AVERAGE 9M25 9M26 Spain 3.04% 2.84% Yield on Loans 3.65% 3.47% YtD Cost of Deposits Mexico MXN -0.61% 11.98% -0.62% 11.62% evolution Yield on Loans Cost of Deposits Mexico FC1 14.70% -2.72% 5.31% 13.86% -2.24% 4.65% Yield on Loans 6.

  36. Slide 36: Stages Breakdown by Business Area

    4 Stages Breakdown by Business Area

  37. Slide 37: Stages Breakdown by Business Areas

    3Q26 EARNINGS ANNEX - STAGES BREAKDOWN BY BUSINESS AREA Stages Breakdown by Business Areas CREDIT RISK BREAKDOWN BY AREA (SEP-26, € M) Gross Accumulated Gross Accumulated Gross Accumulated BBVA GROUP Exposure impairments SPAIN Exposure impairments MEXICO Exposure impairments Stage 1 576,404 2,164 St

  38. Slide 38: ALCO Portfolio, NII Sensitivity and LCRs & NSFRs

    5 ALCO Portfolio, NII Sensitivity and LCRs & NSFRs

  39. Slide 39: ALCO Portfolio

    3Q26 EARNINGS ANNEX - ALCO PORTFOLIO, NII SENSITIVITY AND LCRS & NSFRS ALCO Portfolio ALCO PORTFOLIO BREAKDOWN BY REGION EURO ALCO PORTFOLIO (€ BN) MATURITY PROFILE (€ BN) Amort Cost Fair Value (HTC) (HTC&S) (duration SEP-26 (€ BN) (€ BN) incl. hedges) South 0.2 7.3 1.8 years America Turkey 4.9 3.4

  40. Slide 40: NII Sensitivity to Interest Rates Movements

    3Q26 EARNINGS ANNEX - ALCO PORTFOLIO, NII SENSITIVITY AND LCRS & NSFRS NII Sensitivity 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 MEXICO SHEET +/– c. 4% +/- 2.4% Note: NII sensi

  41. Slide 41: Liquidity and Funding Ratios

    3Q26 EARNINGS ANNEX - ALCO PORTFOLIO, NII SENSITIVITY AND LCRS & NSFRS Liquidity and Funding Ratios BBVA GROUP AND SUBSIDIARIES LCR & NSFR (SEP-26) LCR NSFR Total Group 173% / 143% 1 123% Loan To Both LCR and NSFR Deposit significantly above the BBVA, S.A. 171% 114% 99.6% 100% requirements, at a Grou

  42. Slide 42: CET1 Sensitivity to Market Impacts

    6 CET1 Sensitivity to Market Impacts

  43. Slide 43: CET1 Sensitivity to Market Impacts

    3Q26 EARNINGS ANNEX - CET1 SENSITIVITY TO MARKET IMPACTS CET1 Sensitivity to Market Impacts1 TO A 10% CURRENCY DEPRECIATION2 (SEP-26) MXN TRY USD ー 13 bps ー 3 bps +13 bps TO +100 BPS MOVEMENT IN TO +100 BPS MOVEMENT IN THE THE SPANISH SOVEREIGN BOND MEXICAN SOVEREIGN BOND (SEP-26) (SEP-26) ー 8 bps ー

  44. Slide 44: RWAs by Business Area

    7 RWAs by Business Area

  45. Slide 45: Risk-Weighted Assets by Business Area

    3Q26 EARNINGS ANNEX - CET1 EVOLUTION YTD & RWAs BY BUSINESS AREA Risk-Weighted Assets by Business Area BREAKDOWN BY BUSINESS AREA Fully-Loaded RWAs Δ (%) (€M) Sep-25 Jun-26 Sep-26 vs. Sep-25 vs. Jun-26 Spain 122,022 120,207 121,532 -0.4% 1.1% Mexico 91,560 87,755 86,854 -5.1% -1.0% Turkey 69,983 77,

  46. Slide 46: Book Value of the Main Subsidiaries

    8 Book Value of the Main Subsidiaries

  47. Slide 47: Book Value of the Main Subsidiaries

    3Q26 EARNINGS ANNEX - BOOK VALUE OF THE MAIN SUBSIDIARIES Book Value of the Main Subsidiaries1,2 (€ BN; SEP-26) Δ (%) QoQ Mexico -1.7% Turkey +2.4% Colombia +7.8% Peru +3.4% Argentina +2.4% Uruguay +4.1% Chile +1.9% Venezuela +10.7% (1) Includes the initial investment + BBVA’s undistributed results

  48. Slide 48: MREL

    9 MREL

  49. Slide 49: Sound MREL Position

    3Q26 EARNINGS ANNEX - MREL Sound MREL Position POSITION AS OF SEP-26 (% RWA1) MREL REQUIREMENT + CBR SUBORDINATION REQUIREMENT + CBR 29.40% 27.66% 26.37% 3.72% CBR3 17.22% CBR3 % 23.94 MREL 3.72% Subordination 13.50% Total Requirement Eligible instruments 2 Total Requirement Eligible instruments 2 M

  50. Slide 50: Medium-Term Strategic Objectives

    10 Medium-Term Strategic Objectives

  51. Slide 51: Business Units Financial Goals

    3Q26 EARNINGS ANNEX - MEDIUM-TERM STRATEGIC OBJECTIVES Business Units Financial Goals South Rest of Spain Mexico Turkey America Business1 Activity Mid-single High-single Above High High Growth (CAGR 24-28, const. €) digit digit inflation teens teens Low to High-single Revenue Mid-single High-single H

  52. Slide 52: CET1 expected generation & uses of capital

    3Q26 EARNINGS ANNEX - MEDIUM-TERM STRATEGIC OBJECTIVES CET1 expected generation & uses of capital1 CET1 SOURCES (EURO, BILLIONS) c.€49 Bn EXCESS CET1 ABOVE 12% as of DEC’242 4.5 CET1 GENERATION 2025-2028 39 SRTs3 2025-2028 5 CET1 USES (EURO, BILLIONS) c.€49 Bn INVESTED FOR GROWTH4 13 AVAILABLE FOR D

  53. Slide 53: BBVA

    BBVA

BBVA — Q3 2026 Earnings Presentation on 6ix