Adds details on main markets in Spain and Mexico in paragraph 5

MADRID, Oct 31 (Reuters) - Spain's BBVA BBVA.MC on Thursday said its third-quarter net profit rose 26% from the same period in 2023 thanks to a solid performance in Spain, where it wants to buy smaller rival Sabadell to reduce its reliance on Mexico, its main market.

In May, BBVA announced a hostile 12 billion euro takeover bid for Sabadell SABE.MC as it attempts to strengthen its position at home.

BBVA, the sixth-biggest lender in the euro zone by market value, booked a net profit of 2.63 billion euros ($2.85 billion) in the July to September period, above the 2.37 billion euros expected by analysts polled by Reuters.

BBVA aims to create a lender with more than 100 million customers globally and assets exceeding 1 trillion euros - second only to BBVA's long-time rival Santander SAN.MC among Spanish banks.

Net profit in Mexico, its main market, fell 2.4% year-on-year in the quarter due to the depreciation of the Mexican peso, while in Spain it rose 23.4% in the same period.

($1 = 0.9320 euros)

(Reporting by Jesús Aguado, editing by Inti Landauro)

((jesus.aguado@thomsonreuters.com; +34 91 835 68 32; Reuters Messaging: Reuters Messaging: jesus.aguado.reuters.com@reuters.net))