BBVA expects to grow more than its competitors despite the uncertainty caused by the geopolitical situation.

BarcelonaBBVA Chairman Carlos Torres is optimistic about the bank's growth despite the current global climate of geopolitical uncertainty. "Despite the current uncertain environment marked by trade tensions and armed conflicts, but also by great opportunities, the bank faces this context with confidence," Torres stated at the annual general meeting of shareholders held this Friday in Bilbao. In fact, the bank's chairman affirmed that they expect to continue growing faster than their competitors and to lead the era of artificial intelligence—"as we have done until now," he said—despite exposure to potentially volatile markets, such as Turkey, which accounts for 7% of their business, and Mexico, which in 2025 represented 45.4%.

Torres reviewed the figures for the 2025 fiscal year, which he described as "excellent" for BBVA, in which it achieved "record profits" of more than 10.5 billion euros and after which, he emphasized, they are once again "and." Looking ahead to 2026, the bank expects to continue growing faster than its competitors and increase profitability to levels around 20%. Torres said that BBVA faces the current environment "with confidence" thanks to its geographical diversification, the combination of growth and profitability, and a strategy "with a clear focus on innovation." "And, once again, we are going to lead the era of artificial intelligence, always to offer the best service to our customers," Torres added.

More rewards for shareholders

Torres added that thanks to these results, the bank will accelerate shareholder payouts. "On the one hand, we are allocating half of our profit, €5.2 billion, to the largest dividend in our history—92 cents per share—31% more than the previous year. On the other hand, we are making progress in executing our share buyback program for €4 billion," he added. Furthermore, in parallel with its dividend policy and as a strategy to reward shareholders, the bank announced that on March 23 it will resume its extraordinary share buyback program with the activation of a second tranche for a maximum amount of €1 billion. According to the bank, it has already completed a first phase of €1.5 billion and expects this new tranche to be executed until the established amount or the maximum limit of shares is reached, with the aim of reducing share capital through the cancellation of the acquired shares.

Expectations for 2026

“Geopolitical fragmentation and conflicts, the energy transition, and technological acceleration are redefining the global economy. Despite the uncertainty, the economy is showing remarkable resilience, more than expected,” stated Torres, who explained that BBVA Research forecasts 2.4% growth in Mexico, 3% in Spain, and growth in South American countries. However, he warned that “the escalation of the conflict in Iran could negatively impact these figures if the closure of the Strait of Hormuz is prolonged.” He also said that artificial intelligence “represents a technological transformation of enormous magnitude” and at an unprecedented speed. “A structural transformation is underway, characterized by autonomous systems, intelligent agents capable of reasoning and executing increasingly sophisticated tasks,” he said. Faced with these digital challenges, Torres affirmed that the bank is integrating AI into all areas.

Finally, he ended with a message of reassurance for shareholders: "BBVA is in its best moment. And, above all, it is better prepared than ever for the future," he concluded.