BBVA is a diversified global bank headquartered in Spain, operating primarily in Spain, Mexico, Turkey, and South America. Its core business is traditional commercial banking — taking deposits and making loans across retail consumers, SMEs, large corporates, and governments. BBVA serves these customers through branch networks and, increasingly, digital and mobile channels. Net interest income drives roughly 71% of gross income, earned on the spread between loan yields and deposit costs. Fee income — from payments, credit cards, asset management, insurance commissions, and investment banking — is the second-largest revenue line and a growing priority given its capital-light, rate-insensitive nature. Mexico is BBVA's single largest and most profitable segment (~45% of operating profit), where BBVA is the market leader with ~25.6% loan market share and a dominant payroll deposit franchise that keeps funding costs well below the industry average. Spain is the second-largest segment (~36%), a more mature business competing primarily against Caixabank and Santander. Turkey (~7%) is operated through Garanti BBVA, an 86%-owned subsidiary, where profits are currently depressed by inflation and currency depreciation. South America (~6%) operates across several markets, with Peru and Colombia as the primary contributors. BBVA's growth strategy targets loan volume growth across all markets, expansion in corporate and SME banking, and scaling capital-light fee businesses like insurance and wealth management. BBVA pursues purely organic growth and returns excess capital above its 12% CET1 target through dividends and buybacks, with a regular payout ratio of 40%–50% of net profit.