Company: BBVXF
Filing Date: 2025-04-29
Form Type: 6-K
Source: 0000842180-25-000023
Chunk: 13

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-04-29
Form: 6-K
Chunk 13
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 March 31, 2025 from 59% as of December 31, 2024.

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#### Mexico
The Mexico operating segment includes the banking, insurance and asset management business conducted in Mexico by BBVA Mexico. It also includes BBVA Mexico’s agency in Houston.

The Mexican peso depreciated 2.3% against the euro as of March 31, 2025 compared with December 31, 2024, negatively affecting the business activity of the Mexico operating segment as of March 31, 2025 expressed in euros. See “ Operating and Financial Review and Prospects―Operating Results―Factors Affecting the Comparability of our Results of Operations and Financial Condition―Trends in Exchange Rates ”.

Cash, cash balances at central banks and other demand deposits amounted to €13,135 million as of March 31, 2025, a 4.5% increase compared with the €12,564 million recorded as of December 31, 2024, mainly due to increases in cash balances held in U.S. dollars at the Federal Reserve (“

#### Fed
”), mainly driven by the issuance of long-term debt and increasing volumes of foreign exchange swaps, partially offset by the reduction of repurchase agreements and the depreciation of the Mexican peso against the euro.

Financial assets at fair value of this operating segment (which includes the following portfolios: “Financial assets held for trading”, “Non-trading financial assets mandatorily at fair value through profit or loss”, “Financial assets designated at fair value through profit or loss” and “Financial assets at fair value through other comprehensive income”) as of March 31, 2025 amounted to €49,525 million, a 9.2% decrease from the €54,547 million recorded as of December 31, 2024, mainly due to decreases in governments bonds driven in part by decreases in interest reference rates by the Mexican Central Bank (“

### BANXICO
”) and the depreciation of the Mexican peso against the euro.

Financial assets at amortized cost of this operating segment as of March 31, 2025 amounted to €93,824 million, a 0.8% decrease compared with the €94,595 million recorded as of December 31, 2024. Within this heading, loans and advances to customers of this operating segment as of March 31, 2025 amounted to €88,522 million, a 0.2% decrease compared with the €88