BBVA turns the page on the failed takeover bid with record profits through September

MadridBBVA has turned the page on the failed hostile takeover bid for Banc Sabadell, flexing its muscles with record results through September. The financial institution posted a net profit of €7.978 billion in the first nine months of 2025, representing a 4.7% increase compared to the same period last year, as reported this Thursday morning to the Spanish National Securities Market Commission (CNMV). These results are the first announced since the outcome of the takeover bid for Sabadell. in which only 25% of the share capital BBVA accepted the offer, which definitively derailed the operation. "Whatever we do, we do it to create value for our shareholders [...], and the best thing we can do is close the chapter on the takeover bid," said the bank's CEO, Onur Genç, at a press conference this Thursday. "We're not going to make excuses," he said. In any case, Genç regretted that it was a "missed opportunity" for both entities, as well as for investors and customers.

Now BBVA has its sights set on its strategic plan. "We are focused on this," reiterated Genç, who downplayed the possibility of exploring other potential acquisitions, as well as the market rumor of a possible sale of the subsidiary Llama, BBVA's third most important market. "It's a critical and fundamental part," Genç indicated.

This summer, the Basque bank outlined a promising future by setting new financial targets for the 2025-2028 period. "This roadmap will further consolidate our leadership in terms of growth and profitability as a European bank," the executive stated.

So far, things haven't gone badly for them through September. The financial institution explained that total revenue in the first nine months of the year soared to €27.136 billion, a 3.7% increase. As for interest income (net interest margin), it reached €19.246 billion, a 2% increase, thanks mainly to growth in activity in Mexico, its main market, and in Spain. In this way, the bank continues to weather the (currently paused) interest rate cuts by the European Central Bank (ECB), which automatically impact this source of income. Commission income rose 5.5% to €6.071 billion in just six months. Its profitability reached 19.7%. Regarding customers, the Basque-based bank surpassed 80 million active customers in September after acquiring a record 8.7 million customers in nine months, 66% of them through digital channels. By region, BBVA saw an 8% increase in lending in Spain, particularly in loans to medium-sized businesses and investment banking. However, in the SME sector, the segment BBVA aimed to strengthen with the acquisition of Sabadell, lending declined by 0.1%, while mortgage lending saw a modest increase of 1%. In this regard, Genç echoed the sentiments of other executives, asserting that there is aggressive competition in the mortgage market in Spain. In fact, the BBVA executive acknowledged that he sees little room for growth.

Shareholder remuneration

However, after the takeover bid failed, the bank chaired by Carlos Torres is looking for ways to entice its investors with a future that, for the time being, will be on its own. In the summer, the financial institution took advantage of the presentation of its new objectives up to 2028 to include a promise to distribute €36 billion to its shareholders, and this Thursday it took a step further in that direction with a share buyback of almost €1 billion. This move is in addition to a dividend of 32 cents per share that it will pay in November.