Spanish bank BBVA announced a significant increase in its sustainable finance activity in the first 9 months of 2026, channeling €120 billion into environmental and social business year-to-date, up 27% over the same period last year.

The results indicate continued momentum for BBVA, after the bank reported that it channeled a record €134 billion in sustainable business in 2025, marking an increase of more than 40% over 2024.

BBVA’s strong sustainable finance results follows an announcement last year by the bank of a new goal to channel €700 billion in sustainable finance between 2025 – 2029, more than twice the bank’s previous goal of €300 billion from 2018 – 2025, and over a significantly shorter period, after beating the target at the end of 2024, a year ahead of schedule.

In its update, BBVA revealed that it is more than a third of the way to its 2029 target, with the bank channeling €254 billion in sustainable finance since 2025, including €195 billion, or 77%, to environmental activities in areas including climate change and natural capital, and €59 billion, or 23% to social initiatives.

By business segment, BBVA’s Commercial Banking division led the growth in sustainable finance year-to-date, channeling around €45 billion in the first nine months of 2026, up 40% over the prior year, including around €33 billion to environmental activities and €13 billion to social initiatives. The Wholesale segment remained the largest for sustainable business, at approximately €60 billion, up 16% year-over-year, while Retail grew 38% over the prior year to around €14 billion.

By product, the bank said that financing and transactional banking accounted for 86% of the total channeled year-to-date, while capital markets contributed 10%, and project finance 4%.