Banco Bilbao Vizcaya Argentaria, S.A. (BBVA): Business Model Canvas [Dec-2025 Updated]

You're looking to cut through the noise and see exactly how a global banking giant like Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) is positioning itself for the next decade, so I've mapped out their entire operation using the Business Model Canvas. Forget vague mission statements; we're talking about a bank where $\mathbf{78\%}$ of total sales are now digital, backed by a $\mathbf{€813.063}$ billion asset base as of September 30, 2025. This breakdown shows you their concrete tech partnerships, their massive investment in AI, and how they plan to channel $\mathbf{€700}$ billion in sustainable finance by 2029. Dive in below to see the structure driving their $\mathbf{13.4\%}$ CET1 ratio and where their $\mathbf{80.1}$ million active clients fit into this digital-first strategy.

Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) - Canvas Business Model: Key Partnerships

You're looking at the network that supports Banco Bilbao Vizcaya Argentaria, S.A. (BBVA)'s operations across its 25 countries. These aren't just vendor relationships; they are core to how the bank executes its 2025-2029 strategic cycle.

Strategic alliance with SAP for corporate and business banking

The alliance with SAP Spain, announced in September 2025, centers on integrating the SAP Multibank Connectivity solution. This is designed to optimize financial transaction operations for corporate and business banking clients by connecting their SAP ERP systems directly with the BBVA Pivot platform. This integration is global, covering all countries where BBVA operates.

Here's a snapshot of the scale involved in the business segment this partnership targets:

This move aims to make treasury management smarter and more automated for companies.

Tech partnerships with Google Cloud and OpenAI for AI adoption

The adoption of generative AI is heavily reliant on deep tech partnerships. The collaboration with Google Cloud, ongoing since 2011, was deepened in July 2025 with the deployment of Google Workspace with Gemini. This rollout empowers 100,000 employees worldwide with AI tools in Gmail, Docs, and Sheets.

The impact is already measurable; employees report saving nearly three hours per week on average through task automation. Also, the bank completed the global rollout of its ADA (Analytics + Data + AI) platform, which is cloud-based.

The partnership with OpenAI, which began in May 2024, has seen significant scaling. As of August 2025, 11,000 licenses for their models, including GPT-5, have been deployed across the Group. You'll see high engagement here:

• Over 80% of licensed users use the tools daily.
• Reported time savings are nearly three hours per week on routine tasks.
• Strategic tasks that once took two to three weeks can now take just a few hours.

Honestly, these numbers show a serious commitment to embedding AI into daily workflows.

Fintech ecosystem via Propel VC and BBVA Spark for innovation

To keep pace with external innovation, Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) maintains key venture capital ties. Propel Venture Partners, where BBVA is a long-term Limited Partner, recently closed Fund V at US$100m, pushing its total commitments to US$436m since 2016. BBVA's total commitment to Propel is over $400 million, including a previous $150 million investment.

The internal venture arm, BBVA Spark, is also active. As of October 2025, it has made 19 investments across various geographies, including Spain, Mexico, and Chile. These investments span sectors like Alternative Lending and Cryptocurrencies.

Here are some recent activity metrics for BBVA Spark:

• Total investments made: 19.
• Most recent investment: Series A in PropHero on August 05, 2025.
• Notable investments include Creze, Cafler, and Finaktiva.

This dual approach gives the bank both early-stage exposure and a view into the broader fintech landscape.

Cybersecurity collaboration with Telefónica Tech for global resilience

For global resilience, the strategic agreement with Telefónica Tech is key. This partnership incorporates advanced AI and process automation for cyber threat prevention across the 25+ countries where BBVA operates. Telefónica Tech provides nearly fifty cybersecurity services, covering everything from threat anticipation to Data Processing Center protection.

A major component is the creation of a specialized center in Mexico, mirroring the existing Global Cybersecurity Center in Spain. These two hubs will be staffed by nearly 200 Telefónica Tech cybersecurity professionals working alongside the BBVA team, forming one of the largest cybersecurity centers in the financial industry.

Regulatory bodies (ECB, CNMV) for capital and compliance oversight

Compliance is non-negotiable, and oversight from bodies like the European Central Bank (ECB) dictates capital structure. As of late 2025, the ECB communicated minimum capital requirements for Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) effective January 1, 2026. You need to keep these ratios front-of-mind:

The consolidated Pillar 2 requirement is 1.62%, with 0.96% of that needing to be met with CET1 capital. Separately, the bank executed an issue of preferred securities for a nominal amount of $1,000,000,000 USD, carrying a 7.75% per annum distribution rate until January 14, 2032. Finance: draft 13-week cash view by Friday.

Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) - Canvas Business Model: Key Activities

You're looking at the core engine of Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) as of late 2025. Here are the hard numbers driving their current activities.

Driving digital transformation and AI-driven process optimization

The push into digital channels is showing up in customer acquisition figures. The Group added a record 8.7 million new customers from January through September 2025. Of those new additions, 66% joined via digital channels. This activity pushed the total active customer base past 80 million by the end of 3Q25. Operating expenses through September grew by 11.0% year-on-year at constant exchange rates, a figure impacted by tech investments made in recent years and new hiring. The efficiency ratio improved to 38.2% as of September 30, 2025, an improvement of 178 basis points compared to September 30, 2024.

Core lending and credit origination across retail and corporate segments

Lending activity remains a primary driver. Through September 30, 2025, lending increased by 16 percent year-on-year in constant euros. The gross loans and advances to customers figure stood at €447,901 million on September 30, 2025. Breaking down that lending growth for the first nine months of 2025 shows specific regional performance:

• Spain lending growth: +7.8 percent.
• Mexico lending growth: +9.8 percent.

Expanding Corporate & Investment Banking (CIB) services globally

The Corporate & Investment Banking (CIB) segment is actively channeling sustainable finance. For the first half of 2025, CIB contributed €31.9 billion to the bank's sustainable finance mobilization. This represented year-on-year growth of 34% within that specific activity. The CIB unit also advised Nabiax, the leading data center company in Spain by installed capacity, on a transaction linking the company's sustainability targets to the loan conditions.

Developing and deploying the global cloud-based data platform (ADA)

While specific metrics for the global cloud-based data platform are not public, the investment is reflected in the expense growth noted above. The focus on technology is clear, with 66% of new customer acquisition coming through digital channels in the first nine months of 2025.

Channeling sustainable finance, targeting €700 billion by 2029

Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) has set an ambitious goal to channel €700 billion in sustainable finance between 2025 and 2029. The momentum is strong, with the bank channeling approximately €63 billion in the first half of 2025, marking a 48% increase year-on-year. By the end of the third quarter, the cumulative amount channeled reached around €97 billion for the first nine months of 2025. The second quarter alone saw mobilization of more than €30 billion, a new quarterly record. The third quarter alone mobilized upward of €34 billion, setting another new quarterly record.

Here's the quick math on the H1 2025 sustainable finance mobilization:

The allocation focus for the €63 billion channeled in H1 2025 was:

• Climate change and natural capital projects: 76%.
• Social projects: 24%.

Specific project financing within this scope for H1 2025 included:

• Financing for renewable energy projects: Approximately €1.6 billion.
• Hybrid and electric vehicle financing (Retail): Approximately €742 million.
• Natural capital financing (Commercial Banking): Nearly €2.34 billion.

Finance: draft 13-week cash view by Friday.

Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) - Canvas Business Model: Key Resources

You're looking at the core assets that power Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) right now, late in 2025. These aren't just line items; they're the engine room for their strategy.

First up, the capital strength is rock solid. That's your primary buffer against surprises, and BBVA has plenty of it. As of September 30, 2025, the Common Equity Tier 1 (CET1) ratio stood at a very comfortable 13.42%. This level is well above the Group's target management range of 11.5% - 12.0% and significantly higher than the minimum regulatory requirement of 9.13% effective from January 1, 2025. Honestly, having that much excess capital means they can focus on returning value to shareholders rather than hoarding reserves.

The next critical resource is the human capital, specifically in technology. Digital transformation is the name of the game, and BBVA has been aggressively building out its tech bench. They expect to have around 20,000 employees dedicated to technology roles by the end of 2025. That's a massive pool of engineers, data scientists, and cybersecurity experts driving their digital platforms.

The sheer scale of the balance sheet backs up all operations. Total assets for the BBVA Group reached €813,063 million as of September 30, 2025. This massive asset base supports their lending activity, which saw gross loans and advances to customers grow to €447,901 million by that same date.

The proprietary digital platforms and mobile banking applications are the delivery mechanism for this scale. The bank is seeing tangible results from this investment, with record growth in customer acquisition driven by these digital channels. This capability is what allows them to manage and engage a growing customer base efficiently.

Here's a quick look at the scale of the balance sheet and capital position as of the third quarter close:

The geographic franchises in Mexico and Spain are the primary profit drivers. In Spain, BBVA claims the title of the most profitable and most efficient bank in the country. They've been adding customers at a clip, onboarding about 730,000 new customers year-to-date in 2025. Mexico is an even bigger earnings engine; for instance, in the second quarter of 2025, BBVA Mexico contributed approximately 44% of the group's total profit. The bank expects the Mexican loan book to maintain high single-digit annual growth through 2028.

These leading franchises translate directly into performance, which you can see broken down by segment contribution to profit for the first nine months of 2025 (though the exact breakdown for 9M25 isn't fully detailed in the search snippets, the Q2 contribution shows the weighting):

• Spain: A key market, noted as the most profitable and efficient bank in the country.
• Mexico: The top earnings contributor, providing roughly 44% of group profit in 2Q25.
• Technology Talent: A pool expected to hit 20,000 professionals in 2025.
• Capital Buffer: CET1 ratio of 13.42% as of September 30, 2025.

Finance: draft Q4 2025 capital deployment plan by January 15th.

Banco Bilbao Vizcaya Vizcaya Argentaria, S.A. (BBVA) - Canvas Business Model: Value Propositions

You're looking at the core promises Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) is making to its customers as we move through late 2025. It's a model heavily weighted toward digital excellence and purpose-driven finance.

Digital-first, personalized banking experience via top-rated mobile app

The digital experience is now the default. BBVA launched a new version of its mobile app in Spain, built on a unique native code, making it scalable to all operating countries. This technological overhaul means the app runs up to six times faster than the previous version. The bank boasts 57 million mobile customers globally, with 78 percent of its total sales now conducted through digital channels. Personalization is deep; the app uses artificial intelligence to learn your habits, adjusting the layout and prioritizing tools based on your usage patterns. For eligible customers in Spain, the app automatically includes overdraft coverage of up to €300 to cover bills if funds are insufficient, aiming to help you avoid missed payments.

The value proposition here is about friction reduction and control:

• Direct access to cards and Bizum upon opening.
• Biometric login replacing traditional passwords.
• A new discreet mode to hide balances and transactions.
• Card data (PAN, expiry, CVV) available instantly.

Financial health tools and AI-driven recommendations for better decisions

BBVA has made improving financial well-being a strategic priority, moving beyond just being an infrastructure provider to offering advice. The AI-driven tools are showing measurable results for users. Customers in Spain who actively use these financial health features have seen their savings grow by 11% compared to non-users. In Mexico, that growth in savings for users reached up to 20%. The bank's Global Financial Education Plan aims to train one million people by 2025. Furthermore, an AI-powered financial coach reviews your income, expenses, savings, and debt to offer specific recommendations.

Global CIB expertise for large corporations and institutional clients

For your wholesale clients, Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) Corporate & Investment Banking (CIB) is delivering record performance. Through September 2025, CIB posted revenues of €4,832 million, a 27% increase year-on-year. The division's attributable profit reached €2,341 million, marking a 32% increase over the same period in 2024. This growth is supported by a loan book that expanded by 15% compared to December 2024. The bank is reinforcing its global presence, with strong performance noted in Spain, the United Kingdom, Continental Europe, and the United States.

Here's a snapshot of the CIB segment's growth through 9M 2025:

Commitment to sustainability, channeling €97 billion in 9M 2025

Sustainability is a core growth driver, not an afterthought. Between January and September 2025, Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) channeled approximately €97 billion into sustainable business activities. This represents a 48 percent increase compared to the first three quarters of the prior year. The bank has set a new, more ambitious target to channel €700 billion in sustainable finance between 2025 and 2029.

The allocation of the €97 billion channeled in 9M 2025 breaks down by focus area:

• Climate change and natural capital projects: 76 percent.
• Social endeavors: 24 percent.

Within the CIB segment specifically, the bank channeled €49.7 billion in sustainable finance through 9M 2025, a 36% year-on-year increase. Financing for renewable energy projects alone reached €2.1 billion through September 2025.

Diversified geographic exposure for growth and risk mitigation

The Group's business model relies on its strong geographic diversification, which proved advantageous amid varying economic conditions across its markets. Mexico remains a powerhouse, but Spain shows solid momentum, too. For instance, in Q1 2025, loan growth in Mexico hit an impressive 17.2% year-over-year, while Spain saw 6.6% growth. The profit contribution reflects this balance, though Mexico leads.

Here's the net attributable profit breakdown for the Group in Q1 2025, excluding the Corporate Center:

If you're looking at the CIB segment's profit contribution for 9M 2025, it was €2,341 million. Finance: draft the 13-week cash view by Friday.

Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) - Canvas Business Model: Customer Relationships

You're looking at how Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) connects with and serves its diverse client base as of late 2025. The relationship strategy is clearly centered on digital intensity, supported by advanced AI, while maintaining specialized human touchpoints where complexity demands it.

Automated, digital self-service via the BBVA App and NetBanking

The digital channels are the primary interface for the majority of the global customer base. Over 75 percent of customers around the world use the BBVA app. This intensity is driving transaction volume significantly; for instance, in Mexico, the average digital client performs one transaction daily within the app as of the first nine months of 2025. The push for end-to-end digital processes is evident in sales figures, with 58 percent of total sales in BBVA México being completed digitally (E2E) between January and September 2025. This self-service capability extends to product origination, where 43 percent of credit cards in that region were placed without the customer ever stepping into a branch. This digital-first approach is a core driver of efficiency.

Personalized, AI-enhanced advisory services for retail and wealth clients

Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) is embedding artificial intelligence to move beyond simple transactions toward genuine financial guidance. The bank's Chair stressed AI's central role in customer service and strategic AI projects for customization and efficiency in October 2025. This is not just back-office automation; it directly impacts the customer experience. Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) has demonstrated the ability to enable Apple Intelligence-powered card personalization directly from its app as of October 2025. Furthermore, the digital banks in Europe are exploring what could be the first banking app natively integrated within ChatGPT, aiming to make financial management more natural and intelligent for users in Italy and Germany. To power this, the Group has expanded its partnership to 11,000 ChatGPT Enterprise licenses for employees, who report saving an average of nearly three hours of work per week through AI automation. The AI Factory develops analytical components that power features like financial health tools on the app and personalized recommendations.

• AI-driven financial health features on the BBVA app.
• Exploration of conversational app concepts integrated with ChatGPT.
• Enabling of Apple Intelligence-powered card personalization.
• AI Factory develops personalized product recommendations.
• More than 80 percent of licensed ChatGPT users use it daily.

Dedicated relationship managers for Corporate & Investment Banking clients

For the corporate segment, the relationship model shifts to specialized human expertise, heavily augmented by technology. The relationship model for companies is built around expert advice, which is reinforced by artificial intelligence and advanced analytics. This structure is designed to offer solutions tailored to every sector and context, supporting everything from everyday transactions to strategic decisions like international expansion. As of the end of 2024, Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) provided financing to 70,000 larger corporations. The Corporate & Investment Banking (CIB) unit is a key part of the business structure, working alongside Commercial Client Solutions to serve enterprises across the 25 countries where the bank operates. The goal is to combine the approachability of an agent with the bank's technological capabilities.

Multi-channel service model combining digital and physical touchpoints

The overall service model is a blend, recognizing that while digital is dominant, physical presence and specialized human interaction remain relevant. The Group reported that over 11 million new customers joined in 2024, with two-thirds driven through digital channels. The digital-only bank in Italy, for example, has grown to over 800,000 customers and aims for 1 million by 2026, showing the viability of a digital-first approach in new markets. Still, the Group maintains a global footprint across 25 countries, suggesting a network of physical touchpoints supports the digital core. The BBVA Italy app holds top ratings on both Google Play and the App Store, signaling an excellent experience across channels. The annual ICT spending for the Group was estimated at $2.3 billion in 2024, a significant investment underpinning this multi-channel capability.

Digital acquisition of new customers, a record growth driver

Digital acquisition is explicitly a record growth driver for Banco Bilbao Vizcaya Argentaria, S.A. (BBVA). In BBVA México alone, the bank added 2.9 million new digital clients between January and September 2025, representing an 81 percent annual growth rate. Across the Group, the success of digital franchises like BBVA Italy, which grew its customer base by 35 percent since November 2024, demonstrates this acquisition power. The Group attracted 11 million new customers in 2024, with the majority coming from digital routes. The daily average placement of new credit cards via the BBVA app in Mexico reached 3,200 units in September 2025, a 1.7 times increase compared to September 2022.

If you're assessing the digital conversion funnel, focus on the 58 percent E2E digital sales figure for Q3 2025 as the key indicator of frictionless onboarding success. Finance: draft 13-week cash view by Friday.

Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) - Canvas Business Model: Channels

You're looking at how Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) gets its value proposition into the hands of its customers. Honestly, the story here is overwhelmingly digital, but they still maintain a significant physical presence for those pivotal moments that require a face-to-face touch.

The digital push is clear: a staggering 78% of total sales are now conducted through digital channels. That's a massive shift, and it's backed by strong customer acquisition; for example, in the first quarter of 2025, 66% of new customers were acquired digitally. So, while the digital platforms are the workhorse, the physical network remains a strategic asset.

Here's a quick look at the scale of their physical and digital reach as of late 2025, combining the stated targets with recent operational data:

For the corporate and developer ecosystem, Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) uses Open Banking APIs to embed finance directly where clients work. They offer over 40 API-based financial solutions designed for integration, helping companies optimize cash flow in real time. The expected growth in API call volume, a key indicator of usage, is projected to hit a compound annual growth rate of 35% by 2030, showing this channel is set for serious expansion.

The bank is actively fostering the startup community through the BBVA Spark platform. This initiative is designed to engage and fund high-growth companies with the agility traditional banking often lacks. As of late 2025, BBVA Spark has:

• Partnered with over 1,500 companies.
• Secured more than €600 million in funding for partners.
• Expanded its physical presence to London, Madrid, Barcelona, Bogotá, Mexico City, and Buenos Aires.

You can see this in action with recent deals, like the €50 million agreement signed with Sesame in October 2025, or the USD 16 million financing provided to Clara in Colombia in August 2025. It's about co-designing solutions, not just selling products.

Finally, for simpler interactions, Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) uses channels like WhatsApp Banking. This allows for straightforward services, such as account opening, to be handled right where the customer already is, fitting into that broader digital-first strategy.

Strategy: Review the Q4 2025 operational report to see if the branch count has dropped below 5,600, and have the Digital Product team draft a 2026 target for API revenue contribution by next Tuesday.

Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) - Canvas Business Model: Customer Segments

You're looking at the core groups Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) serves as of late 2025. The bank structures its focus across several distinct segments, leveraging its global footprint.

The Mass Retail segment is substantial. As of September 2025, Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) reported 80.1 million active clients globally. This base is heavily digitized, with a record growth in customer acquisition driven by digital channels.

For the business side, Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) aims to be the go-to bank for companies of all sizes, which is a key priority in its 2025-2029 strategic cycle. This includes Small and Medium-sized Enterprises (SMEs) and Large Corporations, which fall under the Corporate & Investment Banking (CIB) umbrella.

The focus on SMEs is strong, evidenced by recent recognition. In 2025, Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) won 'Best SME Bank in Spain' and 'Best SME Bank in Western Europe' awards from Global Finance. For context on growth, in 2024, revenues from the SME segment grew 40% year-over-year to reach €3 billion.

The Corporate & Investment Banking (CIB) segment also shows dynamism. During the first nine months of 2025, loans to business (part of the wholesale segment which includes CIB) grew by 5.9% at the Group level. Furthermore, looking at sustainable business channeling through the end of June 2025, the CIB segment accounted for €7.5 billion of the total channeled amount.

Banco Bilbao Vizcaya Argentaria, S.A. (BBVA)'s geographical focus clearly centers on several key markets, though its overall reach is wide. The bank maintains a presence in over 25 countries.

Here is a look at the financial performance within two of its core geographic markets for the first half of 2025:

Tech-focused startups and scale-ups are served through the dedicated unit, BBVA Spark. As of October 2025, this initiative supported over 1,700 clients and had channeled more than €750 million since its launch.

You can see the breakdown of sustainable business channeling by customer segment for the first half of 2025:

• Retail: nearly €7.5 billion
• Enterprises: €23.7 billion
• CIB: €7.5 billion

Overall, the Group had 126,997 employees as of September 2025 to support these customer segments.

Finance: draft 13-week cash view by Friday.

Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) - Canvas Business Model: Cost Structure

The Cost Structure for Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) is heavily weighted toward technology modernization, human capital, and managing risk exposure across its global footprint. This structure reflects a commitment to digital leadership while maintaining a physical presence.

• Significant technology and IT investment, over €3 billion globally. (Note: Annual ICT spending was estimated at $2.3 billion in 2024).
• Personnel expenses for 126,997 employees as of Q3 2025.
• Operating expenses managed for an improved efficiency ratio of 38.2% (Q1 2025).
• Provisions for impairment on financial assets (Cost of Risk at 1.32% in 1H25).
• Branch network maintenance and optimization costs.

The scale of operational costs is evident when looking at the nine-month figures for 2025, where operating expenses reached €10.36 billion through September. This expense base is being managed to drive down the cost-to-income ratio, which stood at 38.2% as of September 30, 2025.

Here's a quick look at some of the key financial metrics that define this cost base as of late 2025:

The management of personnel costs is intrinsically linked to the technology investment, as the bank continues to hire specialized tech talent to meet its digitization goals. The total workforce figure of 126,997 employees as of the end of the third quarter of 2025 reflects this human capital investment.

The bank also actively manages its physical footprint costs, which include:

• Lease and utility expenses for the global branch network.
• Costs associated with branch closures and network optimization projects.
• Security and physical infrastructure upkeep.

Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) - Canvas Business Model: Revenue Streams

The revenue streams for Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) as of late 2025 are heavily anchored in traditional banking activities, supplemented by market-related income and fee-based services across its global footprint.

The primary engine remains Net Interest Income (NII). Through September 2025, the NII reached €19.25 billion, reflecting a strong performance driven by lending growth in key markets like Spain, Mexico, and Türkiye. This figure is part of the core banking revenues which, combined with fees, showed a strong year-on-year growth of 13.5 percent in constant euros through the first nine months of 2025.

Fees and commissions are another critical component. Net Fees and Commissions totaled €6.07 billion through September 2025. This growth was supported by the performance of payment methods and asset management fees.

The scale of the lending activities directly underpins the NII. As of September 30, 2025, the gross loans and advances to customers for the BBVA Group stood at €447.901B. This represents a significant increase, with lending activity growing by 16.0 percent year-on-year at constant exchange rates.

Here's a quick look at the main recurring revenue components for the nine months ending September 2025:

Market activities contribute through Net Trading Income (NTI). While specific cumulative NTI for 9M 2025 isn't mandated, the third quarter saw a favorable performance in NTI, though the annual comparison was impacted by strong gains from P&L hedges linked to the Mexican Peso depreciation in 3Q24. NTI, alongside dividend income and other items, contributes to the Gross Income figure, which for 9M 2025 was €27.136 billion.

Fee-based revenue is diversified across several specialized areas. You see income generated from:

• Asset management activities, which contributed to the growth in net fees and commissions.
• Insurance contract revenues and expenses.
• Investment banking fees derived from the Corporate & Investment Banking (CIB) segment. The CIB segment channeled approximately €49.7 billion between January and September 2025, showing a 36.6 percent increase.

The focus on sustainable finance also generates revenue streams, with the Group channeling €97 billion in transactions related to environmental or social impact through September 2025. This is a key strategic area supporting future business origination.