Company: BBVXF
Filing Date: 2025-10-30
Form Type: 6-K
Source: 0001628280-25-047351
Chunk: 43

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-10-30
Form: 6-K
Chunk 43
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 scenario) and expects a gradual moderation in growth to rates of 3% by 2026. Despite the volatility and the recent depreciation of the peso, inflation has maintained the correction path initiated in 2024: in September it stood at 32.1% and it is expected to reach 30% by the end of 2025 and may fall below 20% during the second half of 2026. The banking system continues to grow at a high pace, although the inflation control entails that the credit and deposit volume growth is more moderate than in previous quarters. With data at the end of August 2025, total lending was increased by 136% compared to August 2024, favored by consumer, corporate and, above all, mortgage portfolios, which grew by 130%, 127% and 445% year-on-year, respectively. For their part, deposits continue to decelerate, and at the end of August recorded a year-on-year growth of 54%. Finally, the NPL ratio has rebounded due to the growth in household credit defaults, standing at 3.72% at the end of August 2025. Activity and results – In the first nine months of 2025, performing loans under management grew by 60.1% (+10.1% in the third quarter), driven mainly by the growth in corporate loans and all the loans to individuals, highlighting the dynamism of mortgage loans (+134.7%) and growth in terms of volume of consumer loans (+72.0%) and credit cards (+37.3%). At the end of September 2025, the NPL ratio stood at 3.8%, an increase of 107 basis points compared to the end of June 2025, mainly due to retail portfolio NPL entries affecting the NPL coverage ratio, which stood at 88%, below the level recorded at the end of June 2025. – On balance sheet funds recorded a 58.1% growth in the first nine months of 2025 (+19.8% in the third quarter), with growth in time deposits (+99.8%) higher than demand deposits (+36.1%). For its part, mutual funds (off-balance sheet funds) also had a good performance on the same time horizon ( +31.5 %, +16.3% in the third quarter ).

16 At current rates, that is, the impact of exchange rate fluctuations on the profit and loss account is not excluded. Translation of this report originally issued in