Overall Profitability Continues to Strengthen
According to a consensus forecast from market analysts, the Spanish banking sector will maintain its strong profitability momentum in 2025. The six major banks, including Santander, BBVA, CaixaBank, Sabadell, Bankinter, and Unicaja, are projected to achieve a combined net profit of €33.408 billion in 2025, an increase of approximately 5% compared to 2024, setting a new all-time high.
Industry Giants Lead Growth
In terms of profitability, Santander is expected to maintain its leading position in the Spanish banking industry. Analysts predict the bank’s net profit could reach as high as €13.546 billion in 2025, a year-on-year increase of 7.7%, primarily driven by growth in net interest income across its global business regions and effective cost control.
Following closely is BBVA, which is scheduled to announce its results on February 5th (Thursday). The market expects the bank’s 2025 net profit to reach a record €10.566 billion, a 5.1% increase. The group, led by Carlos Torres, also plans to achieve a cumulative profit of around €48 billion between 2025 and 2028 and aims to generate €36 billion in high-quality capital for shareholder remuneration by 2028.
Bankinter Achieves a Historic Breakthrough
As is customary, Bankinter will be the first bank to announce its annual results, with its earnings release scheduled for January 22nd (Thursday). The market predicts the bank will achieve a significant year-on-year net profit growth of 14.1%, reaching €1.087 billion in 2025. This will mark the first time Bankinter’s annual profit surpasses the €1 billion milestone, achieving the goal set by its CEO, Gloria Ortiz, at the beginning of the year. The main drivers are the strong expansion in businesses such as investment funds and pension plans.
Divergent Performances: Stability and Decline
The performance of other banks shows a divergence. CaixaBank, scheduled to release its results on January 30th (Friday), is expected to report a net profit of €5.786 billion for 2025, which is broadly in line with the previous year.
However, Sabadell may be the only exception among the top six. Analysts forecast that the bank’s net profit could decrease by 2.7% year-on-year to €1.778 billion in 2025, with its results expected on February 6th (Friday). The profit decline is mainly attributed to the absence of one-off extraordinary income, although its core business, including net interest income and business volume, remains solid. It is worth noting that the bank’s shareholders rejected a takeover bid from BBVA in October 2025.
