MADRID, June 5 (Reuters) - BBVA CEO Onur Genc said on Wednesday he expects "continuity" under incoming Mexican president Claudia Sheinbaum, as the Spanish bank attempts to play down concerns about its prospects in its main market.

Sheinbaum's landslide victory sparked market jitters this week over the possibility her ruling coalition could secure a congressional super-majority, which would enable it to pass constitutional reforms.

The Financial Times reported last month that Mexico is looking at options to squeeze its banks for more tax revenue, including imposing a windfall tax on profits, which would require a change in the law.

BBVA's shares have fallen around 5% since May 31, the last trading day before the Mexican election.

"There's a new president but the same government formation or the same government infrastructure so in that sense it is a continuity," Genc told a Goldman Sachs hosted forum in Madrid.

Net profit in Mexico, which is BBVA biggest market, rose 12.6% year-on-year in the first quarter, while its net interest income (NII) was up 15.8%.

BBVA, which is in the middle of a hostile takeover bid for smaller Spanish rival Sabadell, has stuck to its high single-digit NII growth guidance for Mexico in 2024.

"In the short term our expectation is that the central bank would now be a bit more hawkish, they are already hawkish but they might be even a bit more because if there's some Mexican peso devaluation there might be even more of a hawkish tendency which typically helps us," Genc said.

Central banks are considered hawkish when they are quick to act on increasing interest rates when inflation picks up. (Reporting by Jesús Aguado and Emma Pinedo; editing by Huw Jones and Alexander Smith)