Briefing
Banco Bilbao Vizcaya Argentaria (BBVA) on 29 October 2026 reaffirmed its strategy for its home market of Spain when presenting its quarterly and interim results, while also dismissing speculation about a new takeover bid for Banco Sabadell . Chief executive Onur Genç said explicitly after the results were presented that the bank was focusing on organic growth and was not currently considering acquisitions – including in the event of a change of government after the parliamentary elections scheduled for 29 November 2026 .
For the first nine months of 2026, BBVA reported profit attributable to the group of €9.066 billion , up around 13 per cent year on year. Management attributes the improvement mainly to higher net interest income, rising loan volumes and stable fee income. Against this backdrop, the group aims to intensify its focus in Spain on high-margin segments such as business banking and consumer lending in order to increase market share organically.
Genç described the question of a renewed takeover bid for Banco Sabadell as “a closed chapter”. The previous offer failed in October 2025; at the time, acceptance levels of around a quarter and government conditions played a part. In recent weeks, some analysts had speculated that a change of government could alter regulatory conditions; BBVA, however, countered this with its priority of organic expansion.
The group also pointed to favourable macroeconomic conditions in Spain: internal projections put growth at 2.6 per cent in 2026 and 2.1 per cent in 2027. Management sees this outlook as an opportunity to increase earnings by focusing on the core business. BBVA did not mention any specific acquisition plans; any strategic changes would be communicated transparently.
Management’s statements and the published figures provide the basis for the bank’s current assessment. However, short-term market developments and political decisions remain sources of uncertainty for future strategic options.
Editor: Daniel Mayer (Article created with AI assistance).