BBVA Reports 27% Revenue Growth, Profit Up 32% Through September

BBVA Corporate & Investment Banking (CIB) reported revenues of €4.832 billion (MX$102 billion) through September 2025, a 27% increase compared to the same period in 2024. The bank’s investment banking division achieved an attributed result of €2.341 billion, marking a 32% increase year-over-year.

Despite global uncertainty, BBVA CIB has prioritized sustained growth for its wholesale clients, using a sector specialization model focused on customized solutions and a long-term strategic vision.

This approach is reflected in a 16% year-on-year revenue increase in the corporate segment through September, with notable advances in the energy sector (+23%), consumer and retail (+19%), and TMT (+16%). In the institutional business, growth accelerated to 23% year-on-year, driven by the public sector (60%) and financial sponsors (+49%).

Business Unit Performance

According to the bank’s report, Global Markets (GM) maintained strong growth across all strategic lines, highlighted by the foreign exchange (FX) and equity businesses. Accumulated revenues reached €1.847 billion, up 27% year-on-year. FX saw strong performance in Turkey and Mexico, fueled by increased trading volumes and geopolitical volatility. Equity was supported by the strength of the institutional business in the US and Asia, along with the integration of BBVA Trader into retail channels. The credit business maintained solid performance in the US, Europe, and Mexico, backed by intense origination activity.

Global Transaction Banking (GTB) advanced with accumulated revenues of €1.841 billion for the first nine months of 2025, 19% higher than the prior period. This reflects the consolidation of structured receivables products and milestones in inventory, liquidity, and supply chain management. The unit observed sustained growth in key markets, driven by higher inter-geographical transaction volumes. GTB's activity reached historic highs in loans, deposits, and guarantees, leading to double-digit growth in both net interest income and fees. GTB's efficiency ratio remained below industry standards.

Investment Banking & Finance (IB&F)

IB&F had an outstanding performance, reaching results of €1.038 billion, a 35% increase. This growth was primarily due to strong 'corporate lending' activity in the United States, the United Kingdom, the Rest of Europe, and Mexico, as well as structured finance in Spain and the rest of Europe. The 'project finance' business maintained strong momentum, particularly in the United States and Europe, with renewable energy and TMT projects as key expansion drivers. Corporate finance showed resilience and solid momentum amid geopolitical uncertainty.

Cross-Border Business and Sustainability

The cross-border business remains a growth driver for CIB, representing 43% of the division's total revenue, following a 17% increase. Mexico is cited as the most attractive market for clients, while penetration in the United States and the UK is solidifying. The company also executed relevant transactions in Brazil.

Between January and September 2025, CIB channeled approximately €49.7 billion into sustainable financing, marking a 36% year-on-year growth. BBVA is focusing on financing cleantech and renewable energy projects in the wholesale segment. Renewable energy project financing reached €2.1 billion through September.