BBVA Q1 profit rises 10.8 percent to 2.99 billion euros
BBVA posted a 2.99 billion euro net profit as growth in Mexico and Spain offset higher provisions. The lender also announced a 1.46 billion euro share buyback.
BANCO BILBAO VIZCAYA ARGENTA grew Q1 net profit 10.8% to 2.99 billion euros, beating analyst expectations of 2.79 billion euros. Strong performance in Mexico and Spain offset 1.82 billion euros in impairments and rising costs. The lender raised its 2026 ROTE target to above 20% as loan growth remains resilient.
### Mexico and Currency Tailwinds Drive Growth Net profit in Mexico rose 9.3% as NII climbed 13% during the quarter. Earnings benefited from the appreciation of the USD/MXN exchange rate, which supported the bank's Latin American strategy. BBVA guided for mid- to high-single-digit growth in the region this year on the back of resilient loan demand.
