Company: BBVXF
Filing Date: 2025-07-31
Form Type: 6-K
Source: 0000842180-25-000033
Chunk: 69

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-07-31
Form: 6-K
Chunk 69
---
es) on financial assets and liabilities and Exchange differences, net

Net gains on financial assets and liabilities and exchange differences of this operating segment for the six months ended June 30, 2025 were €176 million, a 4.1% increase compared with the €169 million net gain recorded for the six months ended June 30, 2024, mainly due to the higher positive exchange differences in Asia and the higher trading gains in the New York branch mainly related to equity brokerage activity, partially offset by the depreciation of the U.S. dollar against the euro and lower trading gains in Europe and Asia. At constant exchange rates, there was a 7.6% increase in net gains on financial assets and liabilities and exchange differences.

<div align='center'>53</div>

#### Administration costs
Administration costs of this operating segment for the six months ended June 30, 2025 amounted to €380 million, a 23.0% increase compared with the €309 million recorded for the six months ended June 30, 2024, mainly due to increases in personnel expenses in the branches located in New York and Europe due to new hires and investment in strategic projects, partially offset by the depreciation of the U.S. dollar against the euro. At constant exchange rates, there was a 25.5% increase in administration costs.

#### Depreciation and amortization
Depreciation and amortization for the six months ended June 30, 2025 amounted to €18 million, a 21.9% increase compared with the €15 million recorded for the six months ended June 30, 2024. At constant exchange rates, there was a 24.0% increase in depreciation and amortization.

Impairment or reversal of impairment on financial assets not measured at fair value through profit or loss or net gains by modification

Impairment or reversal of impairment on financial assets not measured at fair value through profit or loss or net gains by modification of this operating segment for the six months ended June 30, 2025 was a €37 million expense, a 20.6% decrease compared with the €46 million expense recorded for the six months ended June 30, 2024, mainly as a result of the lower credit impairment requirements in the corporate and investment banking loan portfolios in Europe and, to a much lesser extent, the depreciation of the U.S. dollar against the euro. At constant exchange rates, there was a 19.7% decrease in impairment or reversal of impairment on