Canadian Halal Investor.

NYSE Shariah screener · October 2026

Is Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) Halal?

FAIL

Banco Bilbao Vizcaya Argentaria, S.A. · NYSE: BBVA · Financials

The short answer

No - Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) fails this Shariah stock screen at all three gates. BBVA, the Spain-based multinational financial group, has conventional interest-based banking as its core business - a haram activity under AAOIFI-style screens. Total liabilities of 797,778 million euros are about 520% of its ~$153.4B market cap ($26.87/ADR, October 2, 2026), far above the ~33% ceiling, and net interest income of 26,280 million euros is about 71.2% of FY2025 gross income (36,931 million euros), far above the 5% ceiling. Zoya and ShariaPortfolio independently rate BBVA not Shariah-compliant / not Shariah Compliant. This is a factual screen, not a religious ruling - consult a qualified scholar for personal rulings.

Gate 1 — Business activity: FAIL

Banco Bilbao Vizcaya Argentaria, S.A. (NYSE: BBVA), based in Spain, is a diversified multinational financial group: retail banking, wholesale banking, asset management, and private banking. Per its Form 20-F and FY2025 reporting, its segments are Spain (banking + insurance), Mexico, Turkey (Garanti BBVA), South America, and Rest of Eurasia. Core products: current accounts, deposits, loan products, mortgages, credit cards, corporate/investment banking, insurance, pension and investment funds. Business-screen implication (factual): interest-based banking is the core business - a haram activity under AAOIFI-style screens, consistent with this pipeline's Santander, MUFG, SMFG, Wells Fargo, Bank of America, Citigroup, and Capital One precedents. Gate 1 fails. Facts only.

Gate 2 — Debt and cash: FAIL

Per BBVA's Form 6-K (January-June 2026 main data; euro millions), total assets at December 31, 2025 were 859,576 million euros and total equity was 61,798 million euros, giving total liabilities of 797,778 million euros. Against a market cap of about $153.4B (5,708,968,700 ordinary shares x $26.87, Finnhub, October 2, 2026; the 20-F registers the ADR on the NYSE), total liabilities are about 520% of market cap - far above the ~33% ceiling (the ratio is so far over that no FX-rate precision matters). Gate 2 fails. Facts only.

Gate 3 — Non-compliant income: FAIL

Per BBVA's January-December 2025 Report (euro millions), net interest income was 26,280 million euros (2024: 25,267 million euros), net fees and commissions 8,215 million euros, and net trading income 2,656 million euros, for gross income of 36,931 million euros. Net interest income / gross income = 26,280 / 36,931 = about 71.2% - far above the 5% non-compliant income ceiling (gross interest income would be higher). Third-party screener Zoya independently reports interest income of 26,280 million euros against revenue of 36,930 million euros (71.16%) - the same conclusion. Gate 3 fails. Facts only.

Key figures used

Frequently asked questions

What does BBVA do?

Banco Bilbao Vizcaya Argentaria, S.A. (NYSE: BBVA), based in Spain, is a diversified multinational financial group: retail banking, wholesale banking, asset management, and private banking. Per its Form 20-F and FY2025 reporting, its segments are Spain (banking + insurance), Mexico, Turkey (Garanti BBVA), South America, and Rest of Eurasia. Core products: current accounts, deposits, loan products, mortgages, credit cards, corporate/investment banking, insurance, pension and investment funds. Its shares trade on the NYSE as American Depositary Shares (ticker BBVA). In FY2025 it reported gross income of 36,931 million euros and net attributable profit of 10,511 million euros (+4.5% YoY).

Why does BBVA fail this Shariah screener?

BBVA fails this Shariah screener at all three gates. Gate 1 (business activity): conventional multinational banking - interest-based lending is the core business, a haram activity under AAOIFI-style screens (consistent with this pipeline's Santander, MUFG, SMFG, Wells Fargo, Bank of America, Citigroup, and Capital One precedents). Gate 2 (debt): total liabilities of 797,778 million euros against a ~$153.4B market cap are about 520% of market cap, far above the ~33% ceiling. Gate 3 (non-compliant income): net interest income of 26,280 million euros is about 71.2% of FY2025 gross income (36,931 million euros), far above the 5% ceiling. Result: FAIL. One honest note: the gross IFRS 'Interest and similar income' line was not extracted this session - the verified net interest income figure fails the gate decisively on its own, and Zoya independently computes the same 71.16%. This is a factual screen, not a religious ruling - consult a qualified scholar for personal rulings.

What is BBVA's interest-bearing debt ratio?

Per BBVA's Form 6-K (January-June 2026 main data; euro millions), total assets at December 31, 2025 were 859,576 million euros and total equity was 61,798 million euros, giving total liabilities of 797,778 million euros. Against a market cap of about $153.4B (5,708,968,700 ordinary shares x $26.87, Finnhub, October 2, 2026; the 20-F registers the ADR on the NYSE), total liabilities are about 520% of market cap - far above the ~33% ceiling (the ratio is so far over that no FX-rate precision matters). Gate 2 fails. Facts only.

How much interest income does BBVA earn?

Per BBVA's January-December 2025 Report (euro millions), net interest income was 26,280 million euros (2024: 25,267 million euros), net fees and commissions 8,215 million euros, and net trading income 2,656 million euros, for gross income of 36,931 million euros. Net interest income / gross income = 26,280 / 36,931 = about 71.2% - far above the 5% non-compliant income ceiling (gross interest income would be higher). Third-party screener Zoya independently reports interest income of 26,280 million euros against revenue of 36,930 million euros (71.16%) - the same conclusion. Gate 3 fails. Facts only.

Do Zoya, Musaffa, or ShariaPortfolio cover BBVA?

Zoya covers BBVA at zoya.finance/stocks/bbva and rates it 'not Shariah-compliant' ('not Shariah-compliant and therefore not considered halal to invest in'), quoting FY2025 revenue of 36,930,000,000 euros and interest income of 26,280,000,000 euros (71.16% of the combined total). ShariaPortfolio covers BBVA at spscreener.mxcorporate.com/stock/bbva-banco-bilbao-vizcaya-argentaria-sa/: 'Banco Bilbao Vizcaya Argentaria SA is not Shariah Compliant because of its involvement in Banks (NEC) and related activities.' Musaffa: no BBVA stock page was found in targeted searches - honestly reported as no coverage found, not invented.

Sources

Screened 2026-10-02 from published company figures and market data. Figures change; this page is educational, not financial advice and not a religious ruling.

Screened with our two-gate Shariah screening methodology (business-activity gate, then AAOIFI-style financial ratios).