The total remuneration packages for Banco Bilbao Vizcaya Argentaria’s (BBVA.MC) top executives decreased in 2025 compared to the previous year. According to the bank’s annual remuneration report released on Friday, both Executive Chairman Carlos Torres and Chief Executive Officer Onur Genc saw their compensation fall by approximately 3%. BBVA is a global financial services group providing retail banking, asset management, and private banking services. Headquartered in Spain, it has a significant presence in numerous countries.
The reduction in executive pay comes after BBVA’s unsuccessful 16 billion euro hostile takeover attempt of Sabadell (SABE.MC). Despite the failed bid, a BBVA spokesperson clarified that the decline in remuneration was not directly linked to the outcome of the takeover. Instead, the decrease was attributed to certain short-term incentives not being fully achieved during the performance period.
Specifically, Carlos Torres’ total remuneration, which encompasses both fixed and variable components, experienced a 3% reduction, settling at 8.108 million euros for 2025. Similarly, Onur Genc’s remuneration package decreased by 2.5%, amounting to 6.97 million euros. Despite the setback of the Sabadell deal, BBVA announced a strategic plan last July to achieve an accumulated net attributable profit of approximately 48 billion euros between 2025 and 2028.
BBVA also aims to distribute 36 billion euros to shareholders over the next four years. Since the collapse of the Sabadell takeover bid, BBVA’s shares have increased by 22%, while Sabadell’s shares have decreased by over 2%. Earlier this month, BBVA reported a record net profit of 10.51 billion euros for 2025, showcasing the bank’s underlying financial strength.
