Company: BBVXF
Filing Date: 2025-04-29
Form Type: 6-K
Source: 0000842180-25-000020
Chunk: 17

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-04-29
Form: 6-K
Chunk 17
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 fully reflect the most recent evolution of the economic environment, especially in contexts of high uncertainty and volatility or very recent events that are still developing. Additionally, the Group may complement the expected losses either by considering additional risk drivers, or by incorporating sectorial particularities or those that may affect a set of operations or borrowers, following a formal internal process established for the purpose.

#### BBVA Group's credit risk indicators
The evolution of the Group’s main credit risk indicators is summarized below:

– Credit risk increased by 1.3% in the first quarter of the year (+3.5% at constant exchange rates), with generalized growth in all geographical areas, and highlighting, in percentage terms and at constant exchange rates, the variation of Turkey, Rest of Business and Spain. During the last twelve months, this growth stood at 7.0% (+12.8% at constant exchange rates), with double-digit growth in most geographical areas at constant exchange rates with origin mainly in Turkey, Rest of Business, Spain and Mexico.

– The balance of non-performing loans declined 3.7% in the first quarter of 2025 at Group level. At constant exchange rates the variation stood at -2.1%, mainly as a result of the reduction in the balance of non-performing loans in Spain, Mexico and, to a lesser extent, South America. In general, this decline was supported by a higher volume of write-offs and contained net entries. During the last twelve months, the reduction in non-performing balances in constant terms stood at -4.7% (-9.0% at current exchange rates), with declines in Spain, Rest of Business and South America, which mitigated increases in the rest of geographical areas.

– The NPL ratio stood at 2.9% in March 31, 2025, 15 basis points lower than the previous quarter, with generalized decreases during the quarter in all geographical areas except for Turkey and with an improvement of 51 basis points compared to the end of March 2024. This decline has been possible in a context of lower non-performing loans and strong credit growth.

– The NPL coverage ratio ended the quarter at 82%, which represents an increase of 145 basis points compared to the previous quarter, and of 569 basis points compared to the end of March 2024, with generalized increases in the quarter in all geographical areas, except for Turkey supported by the reduction in non-performing loans.

– The cumulative cost of risk as of March 31, 202