Company: BBVXF
Filing Date: 2025-07-31
Form Type: 6-K
Source: 0000842180-25-000030
Chunk: 2

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-07-31
Form: 6-K
Chunk 2
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 South America                                               | 46 |
| Rest of Business                                            | 52 |
| Corporate Center                                            | 55 |
| Other pro forma information: Corporate & Investment Banking | 56 |
| Alternative Performance Measures (APMs)                     | 60 |
| Legal disclaimer                                            | 68 |

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

| January - June 2025Report - p.4 |

Highlights Results and business activity In the first half of 2025, the Group has made significant progress in the execution of its new 2025-2029 Strategic Plan, which aims to establish a new axis of differentiation by radically incorporating the customer perspective, as well as driving and strengthening the Group's commitment to growth and value creation. BBVA continues to focus on innovation as a key driver to achieve these goals and continue leading the transformation of the sector. Thanks to artificial intelligence and next-generation technologies, the Group amplifies its positive impact on customers, helping them make the best decisions. In this context, t he BBVA Group achieved a cumulative result of € 5,447 m, by the end of June 2025, representing a year-on-year increase of 9.1 %. If the exchange rate variation is excluded, this increases to 31.4 %, supported by solid results that are driven by the strong performance of recurring revenues from the banking business, this is, in the favorable evolution of the net interest income and fees. In addition, there was a negative impact on the other operating income and expenses line significantly lower than in the same period of 2024, mainly due to a lower hyperinflation adjustment. In constant terms, meaning the exclusion of the effect of currency variations, operating expenses increased by 10.2 % at Group level, affected by an environment of still high inflation in the countries where the Group has a presence, the growth of the workforce and the higher level of technological investments made in recent years. Thanks to the remarkable growth in gross income, which increased by 19.6%, a notably higher growth rate than operating expenses , the efficiency ratio fell to 37.6 % as of June 30, 2025 , which represents an improvement of 322 basis points compared to the ratio as of June 30, 2024, at constant exchange rates. The provisions for impairment on financial assets increased ( +9.7 % in year-on-year terms and at constant exchange rates), due to year-on-year growth in