Business · Companies · 4 hrs ago
BBVA relies on emerging markets as Spain profits fall
BBVA is betting on leading positions in every market where it operates, including countries with volatile economies.
Chief executive Onur Genç says the bank believes its size and strong local presence can deliver high returns.
Mexico and other Latin American countries, as well as Turkey, contributed more to profit than a year earlier.
Turkey's results came despite high inflation, currency instability and exposure to the Middle East war, which led BBVA to set aside substantial provisions.
Spain's profit fell for the first time in years, showing how results can vary between the bank's markets.
BBVA's failed attempt to take over Sabadell had been seen by some analysts as a way to expand in a more stable market and reduce exposure to emerging economies.
The bank says geographic diversification is working, but whether its strategy succeeds over time remains to be seen.
BBVA’s profits in Spain have fallen for the first time in years.
Markets with greater sensitivity to economic fluctuations are contributing more to BBVA’s profit than they did a year ago.
Mexico and other Latin American countries, as well as Turkey, are among those markets.
BBVA aims to be the largest bank in every market where it operates, including emerging markets.
The article says BBVA is earning more than ever, while its proposed takeover of Sabadell did not go ahead.
- Who
- BBVA, led by chief executive Onur Genç.
- What
- BBVA is relying on emerging markets as its profits in Spain fall.
- When
- The article was published on 29 October 2026; it does not give a date for the profit changes.
- Where
- Spain, Mexico, other Latin American countries and Turkey.
- Why
- BBVA’s strategy is to build leading positions in the markets where it operates, which it believes can generate high returns.
Analysts supporting the Sabadell takeover
BBVA
Strategic priority
Analysts supporting the Sabadell takeover
They viewed the takeover as a chance to increase BBVA’s presence in a mature, stable market and reduce what they saw as excessive emerging-market risk.
BBVA
BBVA aims to build leading franchises across all its markets, including emerging ones.
This story does not have a timeline yet.
- Spain
- Profits fell for the first time in years
- Emerging markets
- Their contribution to profit is higher than a year earlier
- Markets cited
- Mexico, other Latin American countries and Turkey
- BBVA strategy
- Aim to be the largest bank in every market where it operates
- Sabadell takeover
- The proposed operation did not go ahead
What people are saying
What matters is the position you have in a country more than the market itself