BBVA reserves the right to modify or supplement the information provided without prior notice.
This data, that is not under the obligation to disclose information required by the Comisión Nacional del Mercado de Valores (CNMV), is provided as a courtesy and for convenience and informational purposes only and is not intended to imply any endorsement of or provide any investment advice.
BBVA shall have no liability whatsoever (in negligence or otherwise) for any damage or loss howsoever arising from any use of this information.
| Consensus (EUR m) (*) | 2024 | 2025 | 2026 |
|---|---|---|---|
| Net Interest Income | 24,780 | 24,369 | 25,007 |
| Gross Income | 34,540 | 33,786 | 34,649 |
| Operating Income | 20,840 | 19,738 | 19,963 |
| Net Attributable Profit | 9,768 | 8,868 | 8,902 |
| BIS3 FL CET1 (%) | 12.92 | 12.88 | 13.05 |
(*) Consensus calculated from the contribution of 13 analysts. Data updated as of November 25, 2024.
| Net Attributable Profit (EUR m) (*) | 2024 | 2025 | 2026 |
|---|---|---|---|
| Spain | 3,632 | 3,188 | 3,076 |
| Mexico | 5,447 | 5,165 | 5,275 |
| Turkey | 598 | 711 | 794 |
| South America | 593 | 638 | 657 |
| Rest of Business | 500 | 426 | 420 |
| Corporate Center | -1,002 | -1,260 | -1,320 |
(*) Consensus calculated from the contribution of 13 analysts. Data updated as of November 25, 2024.
| Exchange rates (*) | 2024 | 2025 | 2026 |
|---|---|---|---|
| Mexico (MXN/EUR) | 19,90 | 21,38 | 21,70 |
| Turkey (TRY/EUR) | 38,08 | 46,33 | 52,24 |
| Argentina (ARS/EUR) | 1.148 | 1.583 | 1.785 |
| Colombia (COP/EUR) | 4.438 | 4.687 | 4.797 |
| Peru (PEN/EUR) | 4,08 | 4,09 | 4,13 |
(*) Consensus calculated with the estimates of 10 analysts for Mexican peso and Turkish lira and 6 for the remaining currencies. Average excange rate except for hyperinflationary economies (end of period for the Turkish lira and Argentine peso). Data updated as of November 25, 2024.
| Company | Analyst |
|---|---|
| Alantra Equities | Francisco Riquel |
| Autonomous Research | Britta Schmidt |
| Banco Sabadell | María Paz Ojeda |
| Bankinter | Rafael Alonso |
| Bank of America | Antonio Reale |
| Barclays Capital | Cecilia Romero |
| Bestinver | Fernando Gil de Santivañes |
| CaixaBank BPI | Carlos Joaquim Peixoto |
| Carraighill | Seamus Murphy |
| Citigroup | Marta Sánchez Romero |
| Deutsche Bank | Alfredo Alonso |
| Exane BNP Paribas | Ignacio Ulargui |
| Goldman Sachs | Chris Hallam |
| GVC Gaesco | Marisa Mazo |
| HSBC | Domenico Santoro |
| JB Capital | Maksym Mishyn |
| Jefferies | Íñigo Vega |
| JP Morgan | Sofie Peterzéns |
| KBW | Hugo Cruz |
| Kepler Cheuvreux | María Antonia Casado |
| Mediobanca | Andrea Filtri |
| Morgan Stanley | Álvaro Serrano |
| Morningstar | Johann Scholtz |
| Oddo | Steven Gould |
| RBC | Benjamin Toms |
| Redburn | Gonzalo López |
| Renta 4 | Nuria Álvarez |
| Santander | Ignacio Méndez |
| UBS | Ignacio Cerezo |
(*) To the best of our knowledge, the sell-side analysts listed above cover BBVA on a regular basis. The list may not be complete and may change from time to time. We update the list periodically, based on the most complete information we have at all times.
| Company | Recommendation | P.O. | Date |
|---|---|---|---|
| Alantra Equities | HOLD | 11.00 | 11/27/2024 |
| Autonomous | BUY | 13.20 | 10/11/2024 |
| Bankinter | HOLD | 11.45 | 11/05/2024 |
| Bank of America | HOLD | 11.35 | 10/21/2024 |
| Barclays Capital | HOLD | 11.60 | 12/13/2024 |
| Bestinver | BUY | 11.65 | 09/10/2024 |
| Caixabank BPI | HOLD | 10.65 | 10/14/2024 |
| Citigroup | BUY | 12.00 | 08/08/2024 |
| Carraighill | HOLD | 10.10 | 04/12/2024 |
| Deutsche Bank | BUY | 11.75 | 11/18/2024 |
| Exane BNP Paribas | SELL | 9.20 | 11/01/2024 |
| Goldman Sachs | NR | NR | 08/02/2024 |
| GVC Gaesco | BUY | 11.85 | 09/18/2024 |
| HSBC | HOLD | 10.30 | 11/04/2024 |
| JB Capital | HOLD | 12.80 | 10/31/2024 |
| Jefferies | BUY | 12.30 | 07/17/2024 |
| JP Morgan | NR | NR | 05/01/2024 |
| Keefe B&W | BUY | 11.69 | 11/22/2024 |
| Kepler Cheuvreux | SELL | 9.27 | 11/04/2024 |
| Mediobanca | NR | NR | 05/09/2024 |
| Morgan Stanley | NR | NR | 05/01/2024 |
| Morningstar | BUY | 11.50 | 10/31/2024 |
| Oddo | BUY | 13.00 | 11/04/2024 |
| RBC | BUY | 11.00 | 11/05/2024 |
| Redburn | NR | NR | 05/09/2024 |
| Renta 4 | HOLD | 10.62 | 03/07/2024 |
| Sabadell | NR | NR | 05/09/2024 |
| Santander | HOLD | 11.68 | 06/14/2024 |
| UBS | NR | NR | 11/04/2024 |
(*) To the best of our knowledge, the sell-side analysts listed above cover BBVA on a regular basis. The list may not be complete and may change from time to time. We update the list periodically, based on the most complete information we have at all times.
(*) NR = Not Rated
BBVA reserves the right to modify or supplement the information provided without prior notice.
This data, that is not under the obligation to disclose information required by the Comisión Nacional del Mercado de Valores (CNMV), is provided as a courtesy and for convenience and informational purposes only and is not intended to imply any endorsement of or provide any investment advice.
BBVA shall have no liability whatsoever (in negligence or otherwise) for any damage or loss howsoever arising from any use of this information.
| Consensus (EUR m) (*) | 2024 | 2025 | 2026 |
|---|---|---|---|
| Net Interest Income | 24,780 | 24,369 | 25,007 |
| Gross Income | 34,540 | 33,786 | 34,649 |
| Operating Income | 20,840 | 19,738 | 19,963 |
| Net Attributable Profit | 9,768 | 8,868 | 8,902 |
| BIS3 FL CET1 (%) | 12.92 | 12.88 | 13.05 |
(*) Consensus calculated from the contribution of 13 analysts. Data updated as of November 25, 2024.
| Net Attributable Profit (EUR m) (*) | 2024 | 2025 | 2026 |
|---|---|---|---|
| Spain | 3,632 | 3,188 | 3,076 |
| Mexico | 5,447 | 5,165 | 5,275 |
| Turkey | 598 | 711 | 794 |
| South America | 593 | 638 | 657 |
| Rest of Business | 500 | 426 | 420 |
| Corporate Center | -1,002 | -1,260 | -1,320 |
(*) Consensus calculated from the contribution of 13 analysts. Data updated as of November 25, 2024.
| Exchange rates (*) | 2024 | 2025 | 2026 |
|---|---|---|---|
| Mexico (MXN/EUR) | 19,90 | 21,38 | 21,70 |
| Turkey (TRY/EUR) | 38,08 | 46,33 | 52,24 |
| Argentina (ARS/EUR) | 1.148 | 1.583 | 1.785 |
| Colombia (COP/EUR) | 4.438 | 4.687 | 4.797 |
| Peru (PEN/EUR) | 4,08 | 4,09 | 4,13 |
(*) Consensus calculated with the estimates of 10 analysts for Mexican peso and Turkish lira and 6 for the remaining currencies. Average excange rate except for hyperinflationary economies (end of period for the Turkish lira and Argentine peso). Data updated as of November 25, 2024.
