BBVA registers a record profit in the first half in full remodelling of the top management after the takeover bid
The entity earns €6,051 million and reiterates that the chapter to acquire Sabadell is "closed"
BarcelonaBBVA continues to grow alone after having turned the page on the failed takeover bid about Banco Sabadell. The entity registered a record profit of 6,051 million euros during the first half of 2026, 10% more than the same period last year at constant exchange rates, that is, eliminating the effects of currency devaluation or appreciation. According to the bank, the improvement is due to the evolution of recurring income, driven mainly by a 17.7% increase in lending.
"They are excellent results," emphasized the entity's CEO, Onur Genç, during the presentation held this Thursday in Madrid. In this regard, the Turkish executive boasted of having increased his loan portfolio by 60% since the end of 2020, a figure that positions BBVA as "the fastest-growing bank in Europe".
The good performance of the results has given Genç a new opportunity to boast and reiterate that, nine months after the unsuccessful takeover bid, the chapter of acquiring Banco Sabadell "is firmly closed". The bet from the Basque entity now focuses on promoting organic growth – both inside and outside the Spanish market – and continuing to implement its strategic plan, which includes the application of artificial intelligence among its main axes.
Precisely in this field is where BBVA wants to focus. To do so, it has remodeled a large part of its top management. This Wednesday, one day before the presentation of results, the entity chaired by Carlos Torres announced ten major changes in management, including seven appointments, the elimination of two areas and the creation of a new one, eight executive departures and two role changes. One of the entity's main objectives is to implement the use of artificial intelligence in the day-to-day operations of the entire group, made up of more than 125,000 employees globally. Within the strategic plan, the next episode seeks to scale deployment and the management of artificial intelligence agents. "AI is a great opportunity that will revolutionize banking," said Genç.
On the other hand, the remodeling of the dome has also led to the creation of the institutional relations area, responsible for maintaining a dialogue with supervisors, institutions, and governments. Precisely the Spanish government's reticence were one of the main obstacles to the takeover, and with this area the entity seeks to weave new relationships thinking about the future.
Maintenance of employment
After the entity undertook a workforce reduction of 750 employees during the first quarter through voluntary redundancies, its CEO pointed out that the group "is not considering" any further programs to reduce the number of employees. In fact, during recent months, the bank has also hired new staff, so the group's total workforce, which at the close of June numbered 126,994 employees, has been reduced by around 200 workers.
On the other hand, during the results presentation, the entity was also asked about its imputation in the Villarejo case, which has become the first Ibex company to be tried in the case. Regarding this matter, Genç limited himself to saying that he "will respect" the judicial process and defended that the facts being investigated cannot lead to criminal charges for the entity.
