Funding
EIB Group Invests €259 Million in Two BBVA Deals to Mobilise €1.3 Billion for Spanish SMEs
By News Desk ·
Key takeaways
- The European Investment Bank Group invested €259 million in two BBVA transactions, mobilising approximately €1.3 billion for Spanish SMEs and entrepreneurs.
- The European Investment Fund protects mezzanine tranches of €122 million and €138 million, with the EIB counter-guaranteeing part of the EIF's exposure.
- More than €200 million of the financing will go towards green or sustainability projects, with much directed to Spain's cohesion regions.
The European Investment Bank Group invested €259 million in two transactions with BBVA, allowing the Spanish bank to mobilise approximately €1.3 billion, mainly for SMEs and entrepreneurs, with a separate allocation for mid-cap companies. Devdiscourse reported the agreements on October 22, 2026.
How the BBVA and EIB Group Transactions Work
The two transactions use synthetic securitisation, a structure that transfers part of the risk on existing loan portfolios and helps free up capital for further lending. BBVA retains the underlying exposures, with the European Investment Fund covering losses within specified layers of risk and the European Investment Bank counter-guaranteeing part of the EIF's exposure.
In the two transactions, the EIF protects mezzanine tranches of €122 million and €138 million respectively. These sit between the junior tranches, which absorb initial losses, and the senior tranches, which carry lower risk. BBVA retains both the junior and senior tranches.
The first transaction references a portfolio of loans to SMEs and self-employed people assessed under the standardised approach, which uses regulatory rules to calculate credit risk. The second references leases to companies and SMEs under the internal ratings-based, or IRB, approach, which uses approved internal risk models. The leasing transaction marks a first for BBVA: it is the bank's first synthetic securitisation backed by a leasing portfolio.
Both securitisations meet the EU's simple, transparent and standardised criteria, known as STS. The agreements reflect the EIB Group's use of securitisation to unlock capital for investment and reduce financial institutions' risk exposure, and they support the EU Savings and Investment Union, one of the group's eight strategic priorities.
BBVA's Funding and Capital Record
According to akta.pro company records, BBVA reported €10.5 billion in net attributable profit and €134 billion in sustainable finance activity in 2025, alongside €700 billion in total assets under management. The same records show BBVA reduced its share capital by €36.7 million in April 2026 by cancelling 75 million shares.
| Figure | Value |
|---|---|
| Net attributable profit | €10.5 billion |
| Sustainable finance activity in 2025 | €134 billion |
| Total assets under management | €700 billion |
Earlier BBVA Funding and Rating Moves
On October 21, 2026, Eleconomista reported that the EIB and EIF invested €259 million in two synthetic securitisations with BBVA, enabling the bank to mobilise about €1.3 billion for Spanish SMEs and midcaps, with the EIF covering mezzanine losses.
On October 20, 2026, EIN Presswire reported that DBRS Morningstar upgraded BBVA's long-term issuer rating from A (high) to AA (low) and changed its outlook to stable, citing the bank's resilient profitability and strong franchises in Spain and Mexico.
On October 22, 2026, EXPANSION reported that Santander, BBVA and Sabadell are issuing bonds at record levels, with Kutxabank joining them, and that the three banks plan to place 9.5 billion euros in 2026, a 245% increase.
Where the BBVA Financing Goes
More than €200 million will go towards green or sustainability projects, giving companies financial support to invest in their future. Much of the financing is expected to reach businesses in Spain's cohesion regions, where income per person is below the European Union average.