Banco Bilbao Vizcaya Argentaria, S.A.

Despite its Spanish origins, Banco Bilbao Vizcaya Argentaria generates only around one-fourth of its profits in Spain. We expect that on a normalized basis, BBVA's market-leading Mexican bank should contribute half of its earnings, while its Turkish operation should account for another 15%. The balance of BBVA's earnings comes from smaller operations in South America. BBVA is overwhelmingly a retail and commercial bank, with corporate and investment banking forming a minor part of the overall business. BBVA also offers insurance and investment products through its banking networks.

Consensus

Buy

Average target

—

Implied upside

—

Analysts

11

Why Is BBVA Down Today?

BBVA shares declined 4.13% today despite a series of operationally positive developments, suggesting the market may be reacting to broader sector headwinds or profit-taking after strong recent performance. The Spanish banking giant reported impressive nine-month earnings while simultaneously expanding its digital service offerings, though these positives appear insufficient to offset today's selling pressure.

Bottom line: Today's 4.13% decline appears to be a tactical pullback rather than a fundamental deterioration, as BBVA's strong nine-month earnings and strategic digital initiatives provide solid long-term support. Investors should watch for clarity on capital deployment strategy and the impact of new service rollouts, while monitoring broader European banking sector sentiment that appears to be driving today's weakness.