Spanish banking giant BBVA (Banco Bilbao Vizcaya Argentaria, one of Spain's two largest lenders) reported a record net profit of €6.051 billion for the first half of the year, an 11% increase on the same period last year. The results beat the bank's own full-year forecasts, prompting management to revise its outlook upward. BBVA also approved a €2 billion share buyback programme, signalling growing confidence in its financial position and a stronger return of capital to shareholders.