BBVA lifts group's profitability outlook for 2026 on Mexico and South America
BBVA•Provisions, risk and Turkey
Loan loss provisions rose 21.8% year-on-year in the quarter to €1.68 billion, as provisions almost doubled in Turkey and rose more than five-fold in Argentina.
The group's cost of risk, which manages potential losses, fell 11 basis points in the quarter to 1.43%.
Net profit in Turkey rose 5.9% in the quarter despite higher inflation on higher lending dynamics and fees. The bank expects a net profit of around €1 billion from there in 2026.
Share buyback and capital position
Shares in BBVA were up 2% by 0747 GMT.
In Spain, net profit fell 3% on lower trading income while lending rose 4.5% year-on-year in the quarter. BBVA has guided for a low to mid single-digit growth in NII in 2026.
It announced a new €2 billion share buyback programme, which is part of a four-year plan.
