Spain's major banks reported robust earnings for the first half of 2025, with Banco Santander, BBVA, CaixaBank, and Ibercaja all posting increased profits. Banco Santander recorded a net income of €6.833 billion for the first six months, marking a 12.8% to 13% increase year-over-year, with Q2 net income at €3.43 billion, slightly below estimates, and announced a €1.7 billion share buyback program. BBVA reported a net profit of €5.447 billion in the first half, a 9% rise, surpassing profit estimates and announcing plans to distribute €36 billion to shareholders by 2028. CaixaBank posted a Q2 net income of €1.48 billion, exceeding the estimated €1.38 billion, with a half-year net income of €2.95 billion, a 10.3% increase. Key financial ratios for CaixaBank at the end of June included a CET1 capital ratio of 12.5%, return on tangible equity (ROTE) of 18.5%, and a bad loan ratio of 2.3%. Santander's Q2 metrics included a phased-in CET1 ratio of 13%, ROTE of 16.9%, and a non-performing loan ratio of 2.91%. Ibercaja reported a net profit of €181 million for the semester, up 18.8%. Collectively, Spain's large banks earned €17.086 billion in the first half of 2025, an 11.7% to 11.8% increase, driven by strong business performance despite pressure from declining interest rates. Additionally, Spain recorded a current account surplus of €6.435 billion in May 2025.