Banco Bilbao (NYSE:BBVA) posted its highest-ever annual profit on Thursday, as the Spanish lender successfully leveraged soaring lending activity in its core markets to overcome a cooling interest rate environment in Europe.
The Madrid-based bank reported fourth-quarter net income of $2.95 billion (€2.53 billion), representing a 4% increase year-over-year.
For the full year 2025, BBVA delivered a record profit of $11.89 billion (€10.51 billion), up nearly 20% at constant exchange rates.
While revenue for the quarter reached $11.4 billion, it fell slightly short of analyst forecasts as the bank contended with the Mexican peso's depreciation and higher loan-loss provisions.
However, a 9.8% jump in net interest income helped the bank maintain a robust return on tangible equity (ROTE) of 19.3%.
The record results prompted BBVA to launch its most aggressive shareholder return plan to date.
The bank announced an extraordinary $4.2 billion (€3.96 billion) share buyback program and proposed a final dividend of €0.60 per share, bringing the total cash distribution for 2025 to a record €0.92 per share.