Company: BBVXF
Filing Date: 2025-07-31
Form Type: 6-K
Source: 0001193125-25-169872
Chunk: 1

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-07-31
Form: 6-K
Chunk 1
---
 line of other operating income and expenses showed a significant improvement in 1H25 vs the same period a year earlier, on the back of a lower impact from hyperinflation in Argentina and Türkiye and the good performance of the insurance business. Likewise, this year’s heading compares favorably vs last year’s, when it registered the total annual extraordinary tax on banking institutions in Spain in 2 1Q24 (€285 million) . Gross income reached €18 billion in 1H25, up 20 percent yoy. Operating expenses grew by 10 percent yoy, to €6.79 billion. This increase is below the average inflation in the Group’s footprint (13.4 percent) over the past 12 months. The solid performance of gross income and the containment of expenses helped to maintain positive jaws, while the efficiency ratio improved 322 basis points compared to June 30, 2024, to 37.6 percent. As a result of all the above, operating income stood at €11.25 billion, up 26 percent yoy. Impairments on financial assets increased 10 percent yoy, due to greater loan growth in the most profitable segments. Risk indicators remained stable, at better than expected levels: the accumulated cost of risk in 1H25 stood at 1.32 percent, while the NPL ratio and the coverage ratio at the end of June were 2.9 percent and 81 percent, respectively. BBVA posted a record net attributable profit of €5.45 billion in 1H25, up 31 percent from a year earlier (+9 percent in current euros), cementing the growing trend of recent years. In 2Q25, net attributable profit stood at €2.75 billion, up 18 percent yoy. The Group also showcased profitability metrics that were above those of its European peers: ROTE stood at 20.4 percent while ROE was 19.5 percent. Furthermore, the tangible book value per share plus dividends rose 14.6 percent vs a year earlier, to €10.13. As for capital, the CET1 ratio showed significant growth in the quarter, 25 bps, to 13.34 percent, a level well above both the requirement (9.12 percent) and the target range (11.5-12 percent).

Finally, in 1H25, BBVA added 5.7 million new customers, while the loan book grew by 16 percent in constant euros, all