Company: BBVXF
Filing Date: 2025-02-27
Form Type: F-4/A
Source: 0001193125-25-037317
Chunk: 99

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-27
Form: F-4/A
Chunk 99
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 on financial operations and exchange differences amounted to
€36 million, which represents a year-on-year reduction mainly due to higher gains on derivatives.

Dividends and earnings of companies consolidated under the equity method increased by 26.5% in year-on-year terms, mainly due to the higher contribution from the insurance business and higher earnings from BSCapital investees.

The positive variation in the Other income and expenses heading is mainly explained by the fact that in the previous year €(132) million
were recognized for the contribution to Banco Sabadell’s Deposit Guarantee Fund (DGF) and €(76) million for the contribution to the Single Resolution Fund (SRF), which offset the negative variation caused by the recognition of a more
severe impact of the bank levy in 2024, which was €(192) million compared to €(156) million in the previous year.

71

Total costs recorded a year-on-yearincrease of 5.4%, due to higher staff expenses and an increase in general expenses. Provisions and impairments amounted to €(652) million, down by 20.1% year-on-year, mainly due to improved provisions for loan losses. 2024 saw the release of €54 million related to the debt recovered following a legal dispute and to provisions allocated for the impact of DANA. Corporation tax in 2024 includes a positive impact of c. €50 million, mainly due to tax deductions for R&D+i (research, development and innovation) activities.

|                                                                 |     |                 2024 |        |   |     | 2023 |        |   |     | Year-on-year change 
 (%)                 |       |   |
|                                                                 |     | -€ million, except % |        |   |     |      |        |   |     |                     |       |   |
| Net interest income                                             |     |                      |  3,652 |   |     |      |  3,353 |   |     |                     |   8.9 |   |
| Fees and commissions, net                                       |     |                      |  1,231 |   |     |      |  1,247 |   |     |                     |  (1.3 | ) |
| Core revenue                                                    |     |                      |  4,883 |   |     |      |  4,601 |   |     |                     |   6.1 |   |
| Profit or loss on financial operations and