BBVA jumps on record Q1 profit and fresh €1.46B share buyback tranche
BBVA shares are rising after the bank reported record 1Q 2026 results, with net profit of about €2.99 billion (+10.8% year over year). The company also said it will start a new share buyback tranche of up to €1.46 billion in early May, supporting shareholder-return expectations.
1. What’s moving the stock today
BBVA is trading higher today after posting record first-quarter 2026 earnings and pairing the results with an additional shareholder-return catalyst. The bank reported €2.99 billion in net attributable profit for 1Q 2026, up 10.8% year over year (14.1% at constant exchange rates), and highlighted strong profitability metrics alongside ongoing capital generation. (bbva.com)
2. The key catalyst: new buyback tranche
Beyond the earnings print, BBVA said it will begin a new tranche of its extraordinary share repurchase program in early May, with a maximum amount of €1.46 billion. A new buyback authorization can mechanically increase demand for shares and often signals management confidence in capital strength and medium-term earnings power. (bbva.com)
3. What the quarter looked like under the hood
Management attributed the quarter’s momentum to business growth, with customer loans up 17% at constant exchange rates and net interest income up more than 20% year over year. Profitability remained elevated, with ROE around 20.7% and ROTE around 21.7%, reinforcing the narrative of resilient earnings despite varying macro conditions across BBVA’s core markets. (bbva.com)
4. What to watch next
Investors will focus on the pace and execution of the buyback, any updates on 2026 shareholder distributions, and whether strong operating trends persist as rate cycles and credit conditions evolve. Capital trajectory also matters: BBVA highlighted ongoing capital generation in the quarter, and the market will watch how dividends, AT1 coupons, and loan growth interact with capital ratios as the buyback proceeds. (investing.com)