Higher inflation and rates are affecting asset quality in Turkey, BBVA CEO says
BBVA•BBVA CEO Onur Genç said higher inflation and interest rates are affecting asset quality in Turkey. The bank expects to beat its 10% Mexico loan-growth guidance for 2026 and remains on track to meet full-year guidance in Mexico.
1. CEO comments on outlook
Genç said higher inflation and interest rates are affecting asset quality in Turkey. He said BBVA is very positive on Mexico and most likely will beat its 10% loan-growth guidance for 2026. CFO Gonzalo Rodriguez said the bank remains on track to meet its full-year guidance in Mexico.
2. Spain and profitability
BBVA said higher deposit costs in Spain mainly come from wholesale deposits, with no pressure seen from retail clients. The bank expects robust loan growth and positive future net interest income in Spain, and expects return on tangible equity to improve further in 2027 and 2028.
