Monday, February 23, 2026

Mexico profits help BBVA exceed expectations in Q1

Spanish bank BBVA posted better-than-expected profits for Q1, thanks largely to outstanding performance in the Mexican market. At group level, BBVA posted a 39% rise in profits.

BBVA Bancomer, the Mexican arm of the bank, saw net profit rise 65% in Q1. Income from lending in Mexico also rose 48%. 

The HQ of the BBVA group in Spain
The success of the bank’s Mexican operations meant that the BBVA group, headquartered in Spain, saw a 2% share increase. (BBVA)

Mexican operations accounted for 54% of the entire €1.85 billion profit for the BBVA group as a whole – €1.29 billion (29.6 billion pesos). The bank is the largest financial institution in Mexico.

The figure showed 13.9% year-on-year growth, with good performance in all segments, according to the bank’s latest earnings report. Customer funds grew 6.2%, predominantly thanks to activity in mutual funds and net interest income. 

The earnings report also noted that efficiency saw “a significant improvement,” just under a 30% improvement from 2022. Risk in the Mexican market also reduced, the bank said.

In the wake of turbulent economic conditions for banks and the collapse of Silicon Valley Bank and the emergency merger between UBS and Credit Suisse, focus has renewed on cash ratios for lenders. The outstanding performance in the Mexico market has allowed a liquidity coverage ratio of 184% at BBVA — with coverage of 137% for Mexican customers. 

This outstanding performance has helped the bank to widen the gap between it and Spanish rivals Sabadell, who saw profits fall by 4%. Both sit behind Banco Santander, Spain’s largest banking conglomerate. 

Shares in the BBVA group rose 2% as a result.

With reporting by Reuters and BBVA

Have something to say? Paid Subscribers get all access to make & read comments.
Black and white photos of Mexican tequileros caught on the border in Texas in the 1920s. The three tequileros are posed with two border authorities with the confiscated sacks of alcohol in front of them.

A look back at the days when tequila was the drug smuggled across the Mexico-US border

0
Prohibition launched the era of the tequileros, Mexican men from border towns who saw an opportunity to make a quick buck smuggling contraband alcohol into the U.S.
el Mencho

Here’s what to know about ‘El Mencho’ and the cartel he created

2
El Mencho forged his power by combining accelerated national expansion, large-scale diversification of criminal businesses (drugs, human traffic, extorsion, etc.) and brazen acts of violence toward the authorities.
INEGI, Mexico's official statistics agency, revisits its monthly and quarterly economic data to solidify the findings, and for the fourth quarter of 2025, the adjustment indicated that Mexico's 2025 GDP was a tick better than originally thought.

Revised figures boost Mexico’s 2025 GDP growth to 0.8%

0
The national statistics agency INEGI reported that Mexico’s gross domestic product (GDP) advanced 0.9% in Q4 2025 due to a favorable revision of primary activities, bringing final 2025 growth up from 0.7% to 0.8%.
BETA Version - Powered by Perplexity