BBVA posts record profit after failed Sabadell takeover

Spanish banking giant BBVA on Thursday reported a record annual profit, shrugging off the rollercoaster ride of its failed hostile takeover bid for its biggest national rival Sabadell.

The 10.5 billion euros ($12.4 billion) of profit last year, an increase of 4.5 percent on 2024, comes after Santander also achieved record earnings in a moment of rude health for the sector.