Introduction to Key Spanish Banks in Mexico
The leading subsidiaries of Spanish banks in Mexico significantly contribute to their parent companies’ profits. BBVA contributes 47%, and Banco Santander adds 11.6% to their respective parent companies’ earnings by the end of the first half of the year.
BBVA’s Performance in Mexico and Beyond
Under the leadership of Onur Genç, BBVA reported earnings of 5,447 million euros in the first six months of the year, a 9% increase. This growth is attributed to the robust performance in Spain and Mexico.
BBVA Mexico remains the most significant contributor to the Spanish group’s global financial performance, accounting for 47% of total profits, or 2,578 million euros.
- Earnings from Spain: 2,144 million euros (39% of the total)
- Earnings from Turkey: 412 million euros (7.5% of the total)
Santander’s Global and Mexican Performance
Banco Santander reported global earnings of 6,833 million euros, marking a 13% growth compared to the same period last year.
Mexico contributed 794 million euros, maintaining its position as the fourth most important market for Santander. However, Spain remains Santander’s primary market, contributing 2,258 million euros, followed by Brazil with 996 million euros and the United States with 839 million euros.
Market Capitalization and Stock Performance
BBVA’s market capitalization stands at 95,750 million euros, while Santander’s is 123,180 million euros.
- BBVA stock growth: 76.21% to 16.65 euros in 2025
- Santander stock growth: 85.71% to 8.29 euros in 2025
Key Questions and Answers
- Who are the key Spanish banks operating in Mexico? BBVA and Banco Santander are the leading Spanish banks with significant operations in Mexico.
- How much do these subsidiaries contribute to their parent companies’ profits? BBVA contributes 47%, and Banco Santander adds 11.6% to their respective parent companies’ earnings.
- What are BBVA’s recent financial achievements? BBVA reported a 9% increase in earnings, reaching 5,447 million euros in the first six months of 2023, driven by strong performance in Spain and Mexico.
- How does Mexico rank as a market for Banco Santander? Mexico is the fourth most important market for Banco Santander, contributing 794 million euros, although Spain remains the primary market.
- What are the current market capitalizations of BBVA and Santander? BBVA’s market capitalization is 95,750 million euros, and Santander’s is 123,180 million euros.
- How have BBVA and Santander’s stocks performed in 2025? BBVA’s stock has grown by 76.21% to 16.65 euros, while Santander’s stock has increased by 85.71% to 8.29 euros.
