Note 9

6 Months Ended

Jun. 30, 2026

Financial assets and liabilities held for trading [Abstract]

Disclosure of financial instruments held for trading [text block]

Financial assets and liabilities held for trading

The breakdown of the balance under these headings in the condensed consolidated balance sheets is as follows:


FINANCIAL ASSETS AND LIABILITIES HELD FOR TRADING (MILLIONS OF EUROS)

			Notes			June 2026			December 2025
ASSETS
Derivatives						38,807			32,551
Equity instruments			6.2			12,181			9,901
Debt securities			6.2			36,343			30,846
Issued by central banks						593			584
Issued by public administrations						31,789			27,222
Issued by financial institutions						1,940			1,411
Other debt securities						2,021			1,628
Loans and advances			6.2			67,363			49,887
Loans and advances to central banks						1,074			620
Reverse repurchase agreement						1,074			620
Loans and advances to credit institutions						31,774			17,985
Reverse repurchase agreement						31,633			17,954
Loans and advances to customers						34,515			31,282
Reverse repurchase agreement						31,307			28,639
Total assets			7			154,695			123,185
LIABILITIES
Derivatives						36,160			30,345
Short positions						13,751			13,100
Deposits						69,478			48,472
Deposits from central banks						5,947			3,653
Repurchase agreement						5,947			3,653
Deposits from credit institutions						21,683			18,138
Repurchase agreement						21,093			17,652
Customer deposits						41,848			26,681
Repurchase agreement						41,792			26,600
Total liabilities			7			119,389			91,917