Company: BBVXF
Filing Date: 2025-04-29
Form Type: 6-K
Source: 0000842180-25-000020
Chunk: 32

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-04-29
Form: 6-K
Chunk 32
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 end of 2024, mainly explained by the reduction in the non-performing balance, as a result of the decrease in entries into NPLs and higher write-offs. On the other hand, the NPL coverage ratio was 129% at the end of March 2025, also above the end of 2024.

– Customer deposits under management were 4.7% above the balances at December 2024, mainly due to the evolution of demand deposits, the lowest cost deposits for BBVA Mexico, which grew 4.6% in the first quarter of the year and, to a lesser extent, to the growth in investment funds (+4.9% in the same period).

#### Results
BBVA Mexico achieved a cumulative net attributable profit of €1,332m at the end of March 2025, which represents a growth of 7.8% compared to the same period of the previous year, mainly due to the evolution of the net interest income.

The most relevant aspects of the year-on-year changes in the income statement as of the end of March 2025 are summarized below:

– Net interest income grew by 7.6%, as a result of the higher volumes in lending activity and the lower cost of customer funds and the wholesale financing.

– Net fees and commissions grew 5.8%, mainly favored by the revenues from asset management and wholesale activity.

– The contribution from NTI increased (+20.4%) including a better performance of Global Markets unit.

– Other operating income and expenses grew by 39.2%, driven by the favorable evolution of the insurance business.

– Operating expenses grew (+11.7%), due to both higher personnel expenses and the increase in general expenses, especially investments in technology.

– Loan-loss provisions increased (+7.8%), as a result of the dynamism of activity observed in the retail portfolio. The cumulative cost of risk at the end of March 2025 stood at 3.05%, a decrease of 34 basis points compared to that recorded at the end of December 2024.

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

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#### Turkey

#### Highlights
#### •

#### Increase in lending activity and customer funds
#### •

Growth in net interest income supported by improved customer spreads in Turkish lira

#### •

#### Lower year-on-year impact from hyperinflation
#### •

#### Year-on-year growth in attributable profit
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