BBVA has raised its financing target for 2026 to between €11 billion and €13 billion, significantly exceeding its initial forecasts. This increase is due to credit growth, which has been 17.7% in the first half of the year.
BBVA has adjusted its financing plan and is now looking to raise between €11 billion and €13 billion in the debt market, a 72% increase compared to its previous estimates, according to expansion.com. This change is due to higher than expected credit activity, with a 17.7% growth in its loan portfolio in the first half of 2026.
The entity had initially projected that it would need between €6 billion and €8 billion, but the demand for credit has exceeded those expectations. In Spain, the increase in credit is 7.4%, while in Mexico it reaches 10%.
BBVA has issued €11.674 billion so far and expects to reach €13 billion before the end of the year, which would mark a historic record for the bank. This volume of issuances could be 162% higher than that of 2025 if the trend continues in the second half.
Additionally, the bank has diversified its issuances, with over $6.174 billion placed compared to €5.5 billion. BBVA aims to become a more recurring player in the US debt market, which offers access to a broader investor base.
The entity is also working on optimising its capital structure, seeking to reduce the cost of capital and increase the use of cheaper instruments. This approach includes a new share buyback plan of €2 billion and an increase in the volume of contingent convertible bonds (CoCos) to strengthen its solvency.
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