Banco Bilbao Vizcaya Argentaria is set to release its second quarter financial results on Friday. Here are the key details:

Net Profit Forecast

The Spanish lender is expected to report a net profit of €1.85 billion ($2.05 billion) for the second quarter, according to consensus estimates provided by the bank. This compares to a net profit of €1.675 billion for the same period last year.

Gross Income Forecast

BBVA's gross income, which represents its top-line figure, is anticipated to reach €6.95 billion for the quarter, according to consensus estimates. In the second quarter of last year, the bank's gross income stood at €6.09 billion.

What to Watch

Shareholder Returns

BBVA Chief Executive Onur Genc hinted in April that the bank was considering additional returns to shareholders as it looked to deploy excess capital. RBC analysts Benjamin Toms and Pablo de la Torre Cuevas stated in a research note that they expected the bank to announce a €1 billion buyback with its second quarter results, given the absence of substantial future regulatory capital impacts.

New Targets

Genc also mentioned in April that BBVA was revising its mid-term targets set out in late 2021, with potential upgrades on the horizon. The pace at which BBVA's earnings prospects have been upgraded in recent quarters will be more challenging to replicate going forward, according to UBS analysts Ignacio Cerezo and Alvaro Fernandez-Garayzabal.

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