Banco Bilbao Vizcaya Argentaria (BBVA) reported an 11% rise in first-quarter net profit. Earnings reached €2.99 billion, surpassing analyst expectations. Spain and Mexico drove the results, accounting for two-thirds of total revenue.
Net interest income climbed 17.8% during the quarter. This metric reached €7.54 billion, beating market forecasts. Loan volumes increased across both consumer and business segments.
Strong performance in Turkey and South America contributed to the profit beat. These gains helped offset higher operating costs and increased provisions.