# BBVA: Recent Events (third quarter of 2026 and after) BBVA reports in euros. Every money amount below is converted to US dollars from euros; per-share amounts are stated per ADS (1 ADS = 1 ordinary share). Percentage changes the company gives without an amount are as reported in euros unless a dollar change is stated. Amounts already denominated in dollars are shown as filed. ## Filings that contain financial statements BBVA is a foreign private issuer and furnishes its interim results on Form 6-K. - **6-K, accession 0001628280-26-068117 (filed 2026-10-29)**: unaudited condensed interim consolidated financial statements for the nine months ended September 30, 2026 (income statement, balance sheet, statements of recognized income and expense, changes in equity and cash flows, with notes). These statements present nine-month periods only, with no stand-alone three-month columns. - **6-K, accession 0001628280-26-068042 (filed 2026-10-29)**: the January-September 2026 quarterly report. It prints the consolidated income statement by quarter (3Q26, 2Q26, 1Q26, 4Q25, 3Q25, 2Q25, 1Q25) in management format, plus nine-month results, balance sheet and capital data. This is the source for three-month figures. - **6-K, accession 0001193125-26-437079 (filed 2026-10-29)**: earnings press release for the first nine months of 2026 (narrative with headline results). - **6-K, accession 0001193125-26-437088 (filed 2026-10-29)**: third-quarter 2026 earnings presentation (profit and loss tables for the quarter and nine months). - **6-K, accession 0001628280-26-051321 (filed 2026-07-31)**: unaudited condensed interim consolidated financial statements for the six months ended June 30, 2026. - **6-K, accession 0001628280-26-050804 (filed 2026-07-30)**: the second-quarter 2026 quarterly report (management-format results). - **6-K, accessions 0001193125-26-324943 and 0001193125-26-324969 (filed 2026-07-30)**: first-half 2026 earnings press release and second-quarter presentation. ## Third-quarter and nine-month results (6-K, 2026-10-29) - **Third quarter 2026:** net attributable profit was $3.47 billion, up 17.3% in US dollar terms from $2.96 billion a year earlier (up 19.1% in euros). Gross income was $12.56 billion. Net attributable profit was slightly lower than in the second quarter in euro terms (down 1.5%), which the company attributed to growth in operating expenses and loan-loss provisions. Source: quarterly report 0001628280-26-068042. - **First nine months of 2026:** net attributable profit was $10.53 billion, up 17.9% in US dollar terms (up 13.6% in euros; up 11.4% at constant exchange rates). Gross income was $37.24 billion, net interest income was $26.99 billion and net fees and commissions were $8.02 billion. Source: 0001628280-26-068042 and press release 0001193125-26-437079. - The company reported a CET1 ratio of 12.21% at September 30, 2026, above its 11.5%-12.0% target range, against a CET1 requirement of 8.97% at that date. Earnings per share rose 17.5% in the nine months, which the company attributes to share buybacks over the past twelve months. The cumulative cost of risk was 1.44%, the NPL ratio 2.6% and the coverage ratio 84%. - Loans grew 20.4% year over year at constant exchange rates (performing loans under management, excluding repos). ROTE was 22%, and the efficiency ratio was 37.9%. ## Capital returns - **2026-07-29/30 (6-K 0001104659-26-088452):** After receiving European Central Bank authorization on July 16, 2026, the board approved a new share buyback program for up to EUR 2,000 million ($2.27 billion), to be executed in tranches and used to cancel the shares bought. The first tranche, up to EUR 1,000 million ($1.14 billion), began August 5, 2026. - **2026-08-04 (6-K 0001104659-26-089988):** BBVA announced completion of the third tranche of its earlier buyback framework, which reached its maximum amount of $1.68 billion with 70,339,213 shares acquired (about 1.26% of share capital). - **2026-09-23 (6-K 0001104659-26-109893):** BBVA cancelled those 70,339,213 shares, reducing share capital to 5,510,865,297 shares of 0.49 euros par value. - **2026-10-02 (6-K 0001104659-26-112990):** The first tranche of the new program completed at its maximum cash amount, with 40,204,840 shares acquired (about 0.73% of share capital). BBVA expects to cancel all of them. - **2026-10-13 (6-K 0001104659-26-115394):** BBVA launched the second tranche, up to EUR 1,000 million ($1.14 billion) and at most 507,759,303 shares, starting October 14, 2026 and ending between January 7 and February 4, 2027. Weekly purchase reports followed, with 15.10% of the maximum cash amount used as of the report dated October 26 (6-K 0001104659-26-118606). - **2026-10-01 (6-K 0001193125-26-409738):** The board approved an interim cash dividend of $0.41 per ADS (0.37 euros gross per share) on account of 2026, paid October 15, 2026 (ex-dividend date October 13). The press release of October 29 describes it as the highest interim dividend in the bank's history. ## Debt issuance - **2026-09-03 (6-K 0001104659-26-104980):** BBVA issued US dollar senior non-preferred notes under its Form F-3 shelf: $1,000,000,000 of 4.977% fixed-rate notes due 2029, $1,000,000,000 of 5.244% fixed-rate notes due 2031 and $300,000,000 of floating-rate notes due 2029. The pricing agreement is dated August 25, 2026 and the supplemental indentures are dated September 3, 2026. ## Regulatory and ratings - **2026-10-27 (6-K 0001193125-26-432578):** The ECB communicated BBVA's 2027 minimum capital requirements following its supervisory review. From January 1, 2027, the consolidated requirements are a 9.36% CET1 ratio and a 13.60% total capital ratio, including a Pillar 2 requirement of 1.70% (at least 0.96% in CET1). At the individual (BBVA S.A.) level, the requirements are 7.75% CET1 and 11.25% total capital. The Pillar 2 requirement rises from 1.50% to 1.70% overall, while the separate 0.12% provisioning-expectation add-on that applied in 2026 falls away. - **2026-10-20 (6-K 0001104659-26-117314):** Morningstar DBRS upgraded BBVA's long-term senior issuer rating one notch to AA (low) from A (high), with the outlook changed to stable from positive. Subordinated debt was upgraded to A from A (low), and the short-term rating was confirmed at R-1 (middle). ## Management - **2026-07-29 (6-K 0001104659-26-088436):** BBVA announced a leadership reorganization, with all appointees promoted from within the group. José Luis Elechiguerra, formerly head of Global Risk Management, becomes Country Manager in Mexico, succeeding Eduardo Osuna, who becomes chairman of BBVA Mexico's board. Pablo Pastor becomes head of Global Risk Management. Gonzalo Rodríguez, until then Head of Retail Banking at BBVA in Spain, becomes the Group's Chief Financial Officer, succeeding Luisa Gómez Bravo. Mario Pardo, formerly Country Manager in Colombia, leads a new Institutional Engagement area. Rocío Pérez becomes Global Head of Compliance & Internal Control, and the Regulation & Internal Control area is discontinued. ## M&A and disposals - **Sale of Garanti BBVA's Romanian subsidiaries (signed, not closed):** On March 28, 2026, Garanti BBVA agreed to sell 100% of its Romanian subsidiaries to Raiffeisen Bank SA. According to the nine-month statements (6-K 0001628280-26-068117, Note 3), completion is expected in November 2026 after regulatory approvals, and the related assets and liabilities are classified as held for sale at September 30, 2026. The consideration is subject to adjustments between signing and closing, and the filings do not disclose the price. No acquisitions were reported. ## Earlier in the period - **2026-07-30 (6-K 0001193125-26-324943):** First-half 2026 net attributable profit was $7.06 billion, up 11.1% in euros (up 10.0% at constant exchange rates). The same release announced the new buyback program described above. Full first-half interim statements followed on 2026-07-31 (6-K 0001628280-26-051321). ## Guidance BBVA did not change guidance; it reiterated its 2025-2028 financial targets and said the first nine months show progress against them.