BBVA completes largest synthetic securitisation to strengthen capital efficiency and expand corporate lending capacity

BBVA completes largest synthetic securitisation to strengthen capital efficiency and expand corporate lending capacity

(IN BRIEF) BBVA has executed its largest-ever synthetic securitisation, linked to a €4.5 billion corporate loan portfolio, allowing the bank to release around 80% of the associated regulatory capital and expand its lending capacity. Structured as an on-balance sheet transaction, the deal transfers part of the credit risk to institutional investors while keeping the loans on BBVA’s books. The transaction attracted strong investor demand and was priced in line with similar deals despite market volatility, demonstrating resilience in the securitisation market. It also meets the EU’s STS standards, ensuring high levels of transparency and risk management. As BBVA’s fifth transaction of this kind, it reflects the bank’s ongoing strategy to optimise its balance sheet and support continued financing of corporate clients.

(PRESS RELEASE) BILBAO, 23-Mar-2026 — /EuropaWire/ — BBVA has completed the largest synthetic securitisation transaction in its history, referencing a €4.5 billion portfolio of corporate loans. The transaction enables the bank to release nearly 80% of the regulatory capital initially tied to the portfolio, enhancing its ability to extend additional financing to corporate clients.

The deal has been structured as an on-balance sheet synthetic securitisation, a mechanism through which BBVA transfers part of the credit risk associated with the loan portfolio to institutional investors while retaining the assets on its balance sheet. This approach allows the bank to optimise regulatory capital usage while maintaining its lending relationships and continuing to support economic activity.

The transaction generated strong demand from the market, attracting a broad range of institutional investors with expertise in Significant Risk Transfer (SRT) transactions. Despite ongoing market volatility influenced by geopolitical developments, the deal was completed at pricing levels in line with comparable transactions carried out in 2025, underlining the robustness and resilience of the securitisation market.

In addition, the transaction complies with the European Union’s Simple, Transparent and Standardised (STS) framework, which recognises securitisations that meet high standards for transparency, structural integrity, and risk management.

This latest deal marks BBVA’s fifth synthetic securitisation involving its large corporate loan portfolio and forms part of the bank’s broader strategy to actively manage its balance sheet while strengthening its capacity to finance businesses and support the real economy.

SOURCE: Banco Bilbao Vizcaya Argentaria, S.A.