Company: BBVXF
Filing Date: 2025-07-31
Form Type: 6-K
Source: 0000842180-25-000030
Chunk: 33

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-07-31
Form: 6-K
Chunk 33
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 is 21.2 % above the result achieved in the same period of 2024, driven by the evolution of all components of the gross income . The most relevant aspects of the year-on-year changes in the area's income statement at the end of June 2025 were: – Net interest income grew 1.5%, driven by a higher contribution from the securities portfolio and a lower cost of liabilities, factors that offset the reduction in credit yields resulting from the ECB's successive interest rate cuts. – Fees and Commissions increased by 5.2% compared to the same half of the previous year, especially those generated by asset management as well as, and to a lesser extent, those related to payments and insurance. – Net Trading Income (NTI) increases its contribution by 5.9%, year-on-year, reflecting the evolution of the Global Markets unit. – The year-on-year comparison of the aggregate other operating income and expenses is conditioned by the recording in 2024 of the annual amount of the temporary tax on credit institutions and financial credit institutions for a total of €285m. Apart from the above, the performance of the insurance business is noteworthy. – Operating expenses decreased by 3.9% due to the reduction of general expenses, as the quarter includes a positive effect from the recognition of a lower Value Added Tax expense following the upward re-estimation of its applied pro-rata, offsetting the slight growth in personnel expenses. As a result of the evolution of the area's income and expenses, the gross income grew by 9.2% and, in addition, the efficiency ratio improved. – Impairment on financial asset decreased by 9.7%, mainly as a result of lower requirements in the mortgage portfolio. – Finally, the income tax line includes the accrual, for the first half of 2025, of the new tax on net interest income and fees amounting to approximately €150m, of which €65m corresponds to the second quarter of the year. Spain generated a net attributable profit of € 1,120 m in the second quarter of 2025 , an increase of 9.3 % compared to the previous quarter. Regarding the recurring revenues, net interest income performed well, while fee income was slightly lower than in the previous quarter. On the other hand, the contribution of the other operating income and expenses line and the reduction in expenses in the quarter offset the lower income from NTI. The cumulative cost of risk at the end of June 2025 stood at