BBVA 2026 ECB SREP: 13.13% Total Capital, 8.97% CET1 Ratios

BBVA reported the European Central Bank’s SREP outcome setting its minimum regulatory capital for 2026.

Rhea-AI Filing Summary

BBVA reported the European Central Bank’s SREP outcome setting its minimum regulatory capital for 2026. Effective from January 1, 2026, the bank must maintain at the consolidated level a total capital ratio of 13.13% and a CET1 ratio of 8.97%. These include a consolidated Pillar 2 requirement of 1.62%, of which 0.96% must be met with CET1 and 0.12% reflects prudential provisioning expectations.

At the individual BBVA S.A. level, the required minimums are a total capital ratio of 10.98% and a CET1 ratio of 7.48%, also effective from January 1, 2026. The table specifies component buffers such as the conservation buffer and the O-SII buffer at the consolidated level. These thresholds define BBVA’s regulatory capital floors under the ECB framework for 2026.

Insights

European bank regulation analyst

Routine SREP sets BBVA’s 2026 capital floors; neutral impact.

The ECB’s SREP decision establishes BBVA’s minimum capital ratios for 2026: consolidated 13.13% total capital and 8.97% CET1. These requirements are built from Pillar 1, a Pillar 2 requirement of 1.62% (with 0.96% in CET1 and 0.12% tied to prudential provisioning), plus buffers like conservation and O‑SII.

At the individual entity level, BBVA S.A. must maintain 10.98% total capital and 7.48% CET1, effective January 1, 2026. The figures are regulatory floors rather than targets, and actual capital positioning relative to these floors will determine any headroom.

The notice is administrative and periodic. Subsequent filings may provide details on BBVA’s reported capital ratios versus these minima, which will indicate buffer headroom and distribution flexibility under the disclosed thresholds.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What are BBVA’s consolidated minimum capital ratios for 2026 under the ECB SREP?

Effective January 1, 2026, BBVA must maintain a 13.13% total capital ratio and an 8.97% CET1 ratio at the consolidated level.

What Pillar 2 requirement applies to BBVA at the consolidated level?

A 1.62% Pillar 2 requirement applies, of which 0.96% must be CET1 and 0.12% reflects prudential provisioning expectations.

What are the individual-level minimum ratios for BBVA S.A. in 2026?

At the individual level, required minimums are a 10.98% total capital ratio and a 7.48% CET1 ratio, effective January 1, 2026.

Which buffers are included in BBVA’s consolidated requirements?

The table includes the conservation buffer and an O‑SII buffer of 0.75%, plus a systemic risk buffer of 0.01% and a countercyclical buffer of 0.25%.

Do the SREP ratios reflect targets or minimum regulatory floors for BBVA?

They are minimum regulatory floors set by the ECB for 2026; actual capital levels may be above these thresholds.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 10/30/2025 - 04:53 PM Learn about SEC filing dates

UNITED STATES SECURITIES AND EXCHANGE

COMMISSION

WASHINGTON, D.C. 20549

FORM 6-K

REPORT OF FOREIGN ISSUER PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of October, 2025

Commission file number: 1-10110

BANCO BILBAO VIZCAYA ARGENTARIA, S.A.

(Exact name of Registrant as specified in its charter)

BANK BILBAO VIZCAYA ARGENTARIA, S.A.

(Translation of Registrant’s name into English)

Calle Azul 4,

28050 Madrid

Spain

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

Form 20-F    X       Form 40-F

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):

Yes          No     X

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):

Yes          No     X

Banco Bilbao Vizcaya Argentaria, S.A. (“BBVA”), in accordance with the provisions of the Securities Market legislation, hereby communicates the following:

OTHER RELEVANT INFORMATION

As a result of the Supervisory Review and Evaluation Process (SREP), the European Central Bank (“ECB”) has communicated to BBVA the minimum capital requirements for the year 2026.

In this regard, BBVA shall maintain at consolidated level a total capital ratio of 13.13% and a CET1 capital ratio of 8.97% effective from January 1, 2026. These capital ratios include a Pillar 2 requirement at a consolidated level of 1.62%, of which 0.12%¹ is determined on the basis of the ECB’s prudential provisioning expectations. Of this Pillar 2 requirement of 1.62% at the consolidated level, a minimum of 0.96% shall be met with CET1².

In addition, BBVA shall maintain, effective from January 1, 2026 at the individual level, a total capital ratio of 10.98% and a CET1 capital ratio of 7.48%.

Below is a table summarizing the minimum regulatory capital requirements applicable to BBVA at both the consolidated and individual level:

Capital requirements		BBVA Consolidated										BBVA S.A. (individual)
		CET 1					Total capital					CET 1					Total capital
Pillar 1				4.50%					8.00%					4.50%					8.00%
Pillar 2 (P2R)				0.96%					1.62%					0%					0%
Conservation buffer				2.50%					2.50%					2.50%					2.50%
Other Systemic Important Institution buffer				0.75%					0.75%					0%					0%
Systemic Risk buffer				0.01%					0.01%					0.02%					0.02%
Countercyclical buffer 3				0.25%					0.25%					0.46%					0.46%
Total capital requirements				8.97%					13.13%					7.48%					10.98%

Madrid, October 30th, 2025

¹  This 0.12% shall be met with CET1.

²  Includes the 0.12% determined on the basis of the ECB’s prudential provisioning expectations.

³  The countercyclical buffer is estimated as of December 2025, using the outstanding exposures as of June 2025.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Banco Bilbao Vizcaya Argentaria, S.A.

Date: October 30, 2025

By: /s/ Eduardo Ávila Zaragoza

Name: Eduardo Ávila Zaragoza

Title: Head of supervisory relations