Company: BBVXF
Filing Date: 2025-04-29
Form Type: 6-K
Source: 0000842180-25-000023
Chunk: 53

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-04-29
Form: 6-K
Chunk 53
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 “Gains (losses) from hedge accounting, net” and “Exchange differences, net”.

(2) Not meaningful.

(3) “Net margin before provisions” is calculated as “Gross income” less “Administration costs” and “Depreciation and amortization”.

#### Net interest income / (expense)
Net interest expense of the Corporate Center for the three months ended March 31, 2025 was €99 million, a 55.0% increase compared with the €64 million net expense recorded for the three months ended March 31, 2024, mainly due to the higher funding costs within a global high interest rate environment.

#### Net fees and commissions
Net fees and commissions of the Corporate Center was an expense of €26 million for the three months ended March 31, 2025 compared with the €11 million expense recorded for the three months ended March 31, 2024, mainly as a result of the higher fees paid in connection with the debt issuances carried out by Banco Bilbao Vizcaya Argentaria, S.A.

Net gains (losses) on financial assets and liabilities and Exchange differences, net

Net gains on financial assets and liabilities and exchange differences of the Corporate Center for the three months ended March 31, 2025 were a €61 million gain, compared with the €259 million loss recorded for the three months ended March 31, 2024, mainly as a result of gains from certain foreign currency hedges (recorded in the ALCO portfolio of the Corporate Center) on the estimated results of the operating segments, resulting, to a great extent, from the evolution of the Mexican peso, and the gains from certain venture capital investments, partially offset by the negative exchange differences, in particular, with respect to the U.S. dollar .

#### Other operating income and expense, net
Other operating income and expense, net of the Corporate Center for the three months ended March 31, 2025 was €8 million of net income, a 26.6% increase compared with the €6 million net income recorded for the three months ended March 31, 2024.

#### Administration costs
Administration costs of the Corporate Center for the three months ended March 31, 2025 amounted to €135 million, an 18.6% increase compared with the €114 million recorded for the three months ended March 31, 2024 mainly due to higher personnel expenses.

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#### Depreciation