Company: BBVXF
Filing Date: 2025-07-31
Form Type: 6-K
Source: 0000842180-25-000030
Chunk: 40

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-07-31
Form: 6-K
Chunk 40
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 certain Turkish lira reserves since February 2024. – Net fees and commissions recorded a significant increase, driven by the solid performance in fees and commissions associated to payment methods, followed by those related to asset management, insurances and guarantees. – Lower NTI, due to the currency positions the area maintains in the derivatives trading, partially offset by higher results from the Global Markets unit. – The other operating income and expenses line had a balance of €-177m, which compares favorably with the previous year. This line incorporates, among others, the loss in the value of the net monetary position due to the country's inflation rate, together with its partial offset by the income derived from inflation-linked bonds (CPI linkers). The net impact of both effects was less negative at the end of the first half of 2025, compared with the same period of 2024. This line also includes the results of the subsidiaries of Garanti BBVA and the evolution of the insurance business, whose contribution was increased in both cases compared to the first half of 2024. – Operating expenses continued growing, mainly due to higher personnel expenses, linked to the growth in the workforce and a salary review in the context of high inflation. On the other hand, general expenses also increased, highlighting the higher advertising expenditures and, to a lesser extent, technology expenses. – Regarding the impairment on financial assets, it increased, which is explained by the growth of the activity and higher requirements in retail portfolios, partially offset by releases in the wholesale portfolio. – The provisions and other results line closed June 2025 at €11m, which are lower than the releases in the same period of the previous year, associated with significant recoveries from wholesale customers and the revaluation of real estate recorded in the first half of 2024. In the second quarter of 2025 , the net attributable profit of Turkey stood at € 317m , which represents an increase compared to the previous quarter as a result of the better performance of recurring revenues combined with a lower net impact of inflation (which includes its offset by CPI linkers) and a reduction in the impairment on financial assets. Thus, the cumulative cost of risk as of June 30, 2025 stood at 1.64%, with a 26 basis points decrease in the quarter helped by lower requirements in the wholesale portfolio.

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

| January - June 2025Report - p.