The bank’s net interest income climbed 22.9% to €7.63 billion, reflecting higher margins between loan yields and deposit costs. This growth exceeded the €7.55 billion forecast by analysts, underscoring the lender’s ability to capitalize on current interest rate dynamics. Bolstered by these results, the board confirmed a new €2 billion share buyback program.

While the Mexican division serves as the primary engine for the group, the domestic landscape presents a different picture. BBVA’s profit in Spain dipped 3% during the same period, hampered by cooling returns from trading activities. Despite this local contraction, the overall group remains the second-largest bank in the euro zone by market value, maintaining momentum through its international portfolio.