Finance
BBVA's Q4 net profit up 4% thanks to Spain and Mexico and higher lending income
Published by Global Banking & Finance Review®
Posted on February 5, 2026
2 min readLast updated: February 5, 2026
Quick Summary
BBVA's Q4 net profit increased by 4.1% to 2.53 billion euros, driven by strong performance in Spain and Mexico, slightly below analysts' expectations.
BBVA Reports 4.1% Increase in Q4 Net Profit Driven by Spain and Mexico
BBVA's Financial Performance Overview
By Jesús Aguado
Profit Growth in Spain
MADRID, Feb 5 (Reuters) - Spain's BBVA on Thursday said its fourth-quarter net profit rose 4.1 year-on-year supported by Spain and Mexico, which offset some weakness in Turkey where authorities kept credit restrictions to tame inflation.
Performance in Mexico
The second-biggest lender in the euro zone by market value booked a net profit of 2.53 billion euros ($2.98 billion) in the October to December period, in line with forecasts from analysts.
Challenges in Turkey
For 2025, net profit rose 4.5% to 10.51 billion euros, compared to analysts' forecasts of 10.52 billion euros.
BBVA has relied on Latin American markets to offset pressure from lower interest rates in the euro zone.
NET INTEREST INCOME BEATS ANALYST FORECASTS
Overall net interest income, the difference between earnings on loans minus deposit costs, rose 9.8% year-on-year in the quarter, to 7.03 billion euros on the back of solid underlying loan dynamics. Analysts expected NII to come in at 6.91 billion euros. NII for the whole of 2025 rose 4% to 26.28 billion euros.
In Spain, net profit rose 13.7% year-on-year in the quarter, while lending income rose 5.8% thanks to contained deposit costs. For 2026, it guided for a low to mid single-digit growth in NII supported by an expected 5% growth in loans after lending income rose 3.2% in 2025.
In Mexico, its main market, net profit and NII rose 10.8% and 8.5% in the quarter, respectively. In 2025, NII however fell 1.1% but guided for a mid to high-single-digit growth on the back of high-single-digit growth in loans.
In Turkey, net profit in the quarter fell 11.3% year-on-year though was up 32% in 2025 to 805 million euros on better-than-expected inflation rates. It had guided for net profit of below 1 billion euros last year and now expects an around 1 billion euro net profit 2026.
($1 = 0.8483 euros)
(Reporting by Jesús Aguado; editing by Aislinn Laing and Louise Heavens)
Key Takeaways
- •BBVA's Q4 net profit rose by 4.1% year-over-year.
- •The bank reported a net profit of 2.53 billion euros.
- •Strong performance was noted in Spain and Mexico.
- •Analysts expected a net profit of 2.54 billion euros.
- •The report was edited by Aislinn Laing.
Frequently Asked Questions about BBVA's Q4 net profit up 4% thanks to Spain and Mexico and higher lending income
1What is net profit?
Net profit is the amount of money a company earns after all expenses, taxes, and costs have been subtracted from total revenue. It is a key indicator of a company's profitability.
