Spain’s second-largest lender, BBVA $BBVA, exceeded first-quarter earnings expectations thanks to resilient domestic performance, but signaled potential turbulence ahead. The bank issued a cautionary note regarding the impact of recent U.S. tariffs on its Mexican operations, which have long served as a growth engine. With global trade friction rising, BBVA is reconsidering its emerging markets exposure, particularly in Mexico and Turkey, in favor of a stronger focus on European markets.

Santander Bank $SC has revealed plans to return substantial funds to investors through a share buyback program scheduled for 2025 and 2026. The total amount intended for return to shareholders is set at 10 billion euros (approximately 10.39 billion USD). This move is facilitated by the bank's record profit levels and expected surplus capital.