Company: BBVXF
Filing Date: 2025-04-29
Form Type: 6-K
Source: 0000842180-25-000020
Chunk: 9

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-04-29
Form: 6-K
Chunk 9
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 defense and infrastructure, in a context of growing geopolitical challenges.

This context could lead the Federal Reserve to postpone until 2026 the interest rate cuts expected for this year (stable at 4.50% in recent months). In contrast, in the Eurozone, slower economic growth could allow the European Central Bank to cut rates further, to the 2.0% or slightly below that level, although this would also depend, among other factors, on the European Union's response to the United States tariffs, which could generate additional inflationary pressures.

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

| 9 |

#### Group

#### Results
The BBVA Group obtained a result of €2,698m in the first quarter of 2025, which represents a year-on-year increase of 22.7%. This growth rises to 46.3% if the impact of currency fluctuations is excluded. The solid results are supported by the strong performance of recurring revenues from the banking business and the NTI. In addition, there was a significantly lower negative impact on the other operating income and expenses line than in the same period of 2024, mainly due to a lower hyperinflation adjustment.

| CONSOLIDATED INCOME STATEMENT (MILLIONS OF EUROS)                                |     |        |     |       |     |                 |     |        |
|                                                                                  |     |        |     |       |     | ∆ % at constant |     |        |
|                                                                                  |     |   1Q25 |     |   ∆ % |     |  exchange rates |     |   1Q24 |
| Net interest income                                                              |     |  6,398 |     |  -1.7 |     |             8.5 |     |  6,512 |
| Net fees and commissions                                                         |     |  2,060 |     |   9.2 |     |            19.3 |     |  1,887 |
| Net trading income                                                               |     |    948 |     |  22.7 |     |            40.1 |     |    772 |
| Other operating income and expenses                                              |     |    -82 |     | -91.4 |     |           -92.0 |     |   -952 |
| Gross income                                                                     |     |  9,324 |     |  13.5 |