Overview
- At the Bilbao shareholders' meeting, President Carlos Torres Vila said the economy shows notable resilience even as uncertainty persists.
- BBVA Research projects sustained growth this year in its core markets: 2.4% in Spain, 1.8% in Mexico, 4% in Turkey and 3% in South America.
- Torres warned that escalation involving Iran and a prolonged closure of the Strait of Hormuz could require downward revisions to those forecasts.
- The bank confirmed a second €1 billion tranche of its near-€4 billion extraordinary share buyback and highlighted strong shareholder returns since 2019.
- Management reiterated plans to outgrow peers and lift profitability to around 20% in 2026, underscoring diversification, innovation and AI capabilities.