Company: BBVXF
Filing Date: 2025-07-31
Form Type: 6-K
Source: 0000842180-25-000030
Chunk: 28

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-07-31
Form: 6-K
Chunk 28
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. The exposure of the net interest income to movements in interest rates remains limited. The ECB continued to carry out interest rate cuts due to the convergence of the inflation towards the target up to a total of 100 basis points in the first half of 2025 . Thus, the benchmark interest rate in the euro area stood at 2.15% at the end of June 2025, the rate on the deposit facility at 2.00% and the rate on the marginal lending facility at 2.40%. – Mexico continues to show a balance between fixed and variable interest rates balances, which results in a limited sensitivity to interest rates fluctuations. Among the assets that are most sensitive to interest rate changes, the commercial portfolio stood out, while consumer and mortgage portfolios are mostly at a fixed rate. With regard to customer funds, the high proportion of non-interest bearing deposits, which are insensitive to interest rate movements, should be highlighted. The ALCO portfolio is invested primarily in fixed-rate sovereign bonds with limited durations. The monetary policy rate stood at 8.0% at the end of June 2025 , 200 basis points below the end of 2024. – In Turkey, the sensitivity of net interest income to rates remains limited in both local and foreign currencies, thanks to the bank's management, with a low repricing gap between loans and deposits. At the end of June 2025 , the Central Bank of the Republic of Turkey (CBRT) set the monetary policy rate at 46.0% (up from 42.5 % in April) in order to slow inflation and stabilize the Turkish lira. – In South America, the sensitivity of net interest income continues to be limited, since most of the countries in the area have a fixed/variable composition stable between assets and liabilities. In addition, in balance sheets with several currencies, the interest rate risk is managed for each of the currencies, showing a very low level of exposure. Regarding

Translation of this report originally issued in Spanish. In the event of a discrepancy, the Spanish -language version prevails.

| January - June 2025Report - p.30 |

benchmark interest rates, in Peru it stood at 4.50% as of June 2025, 50 basis points below its December 2024 closing level. In Colombia, the central bank has cut the benchmark interest rate to 9.25%, 25 basis points compared to the 2024 end. In Argentina, the central bank maintained the benchmark interest rate at