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Economy

Economy

Promoting a value and capital creation mindset is one of BBVA’s six new priorities under its 2025–2029 Strategic Plan. According to Luisa Gómez Bravo, BBVA’s Chief Financial Officer, “This strategic priority is about changing the way we think, generating capital and value before making each decision.” It also incorporates a long-term perspective, ensuring that growth is profitable and sustainable over time.

As of April 14, 2026, BBVA will be required to maintain a buffer of 23.94 percent of the total risk-weighted assets (RWAs) for its European resolution group. With an MREL ratio of 28.89 percent at the end of December 2025, the bank is already well above this threshold and also meets the additional requirements for subordination and capital buffers.

BBVA held its Annual General Meeting (AGM) this Friday in Bilbao, where Chair Carlos Torres Vila underscored that the bank is “better prepared for the future than ever,” despite an uncertain and changing environment, marked by trade and geopolitical tensions. “At BBVA, we are facing this context with confidence to continue growing, supported by our geographical diversification, our unique combination of growth and profitability and a strategy clearly focused on innovation,” he added. Furthermore, he underlined that BBVA has leading franchises in its core markets, disciplined execution and the best team. “Looking to 2026 we expect to outperform our competitors while increasing profitability to levels of around 20 percent. We were pioneers in the digital transformation, with tremendous success, and once again, we are going to lead banking in the age of artificial intelligence,” the BBVA Chair said.

When the shareholders of a corporation hold an Annual General Meeting (AGM), they become constituted as one of the main governing bodies of that company. At the AGM, the shareholders make decisions on the matters placed under their exclusive authority by law in the jurisdiction where the company is established, or by the company’s own internal rules, known as "bylaws." BBVA will hold this year's AGM on March 20, 2028, in Bilbao, Spain.

BBVA Chair Carlos Torres Vila has addressed shareholders ahead of the Annual General Meeting to be held on March 20 in Bilbao, where “the main milestones of 2025 and the progress in our strategy” will be reviewed. In the video message, he underscored that BBVA will propose a cash dividend of €0.92 per share—“the highest in our history”—in the context of record earnings and after “another excellent year for BBVA,” marked by the combination of growth and profitability.

In an interview on BBVA’s corporate website, the bank’s Chair, Carlos Torres Vila, took stock of 2025, which he described as “a magnificent year, with BBVA in its best moment,” and shared his outlook for 2026. The bank foresees continued growth in all countries and business areas, especially in sustainability and corporate banking, driven by a strategic plan that puts customers clearly at the center. BBVA also reaffirms its ambition to lead banking in the age of artificial intelligence. In this context, the Chair underlined that between 2025 and 2028, BBVA expects to “generate €49 billion in top-quality capital,” which will be used to finance organic growth and shareholder remuneration.

In 2025, BBVA successfully completed the global rollout of ADA, its new data and artificial intelligence platform. This technological foundation is key in enabling the bank to offer clients more agile, personalized, and efficient services. Over the course of the year, ADA also received recognition from numerous international organizations operating in the financial and technology sectors.

BBVA has successfully completed its €993 million share buyback program, launched on October 31, as part of its ordinary shareholder remuneration for the 2024 financial year. The deal is part of the bank’s strategic plan, which plans to have €36 billion to be returned to shareholders through dividends and share buybacks by 2028. Of this amount, some €13 billion will be distributed in the short term¹.

This Friday, October 31, BBVA is starting the €993 million share buyback program announced earlier this year, which had been pending execution. This buyback is part of the bank’s ordinary shareholder distribution for the 2024 financial year and contributes to the €13 billion BBVA plans to return to shareholders in the short term (€36 billion between 2025 and 2028) in dividends and share buybacks¹.

The rating agency Standard & Poor’s (S&P) has upgraded BBVA’s  rating by one notch, from A to A+, matching Spain’s sovereign rating, with a stable outlook. “BBVA continues to deliver solid risk-adjusted returns and it is our view that BBVA’s  financial strength is now  in line with that of larger and more diversified European and global  peers,” S&P noted.

Spain’s National Securities Market Commission (CNMV) has approved BBVA’s new offer for Banco Sabadell shareholders. The take-up period for Banco Sabadell shareholders began on September 8, 2025 and will end October 10, 2025. Banco Sabadell shareholders who take up the offer will receive one new BBVA share for every 4.8376 shares they tender. The new offer represents a 10 percent¹ increase over the previous offer, and is exceptionally attractive for Banco Sabadell shareholders, as it implies the highest share valuation in over a decade. BBVA will cover the costs associated with the exchange for all shareholders who accept the offer through BBVA branches or via the telephone number +34 800 080 032.