Company: BBVXF
Filing Date: 2025-08-12
Form Type: DRS
Source: 0000950123-25-007520
Chunk: 133

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-08-12
Form: DRS
Chunk 133
---
 and commissions stood at €1,231 million, 1.3% less than at the end of 2023, mainly due to the drop in service fees, heavily
impacting payment card and demand deposit fees.

Profit or loss on financial operations and exchange differences amounted to
€36 million, which represents a year-on-year reduction mainly due to higher gains on derivatives.

Dividends and earnings of companies consolidated under the equity method increased by 26.5% in year-on-year terms, mainly due to the higher contribution from the insurance business and higher earnings from BSCapital investees.

The positive variation in the Other income and expenses heading is mainly explained by the fact that in the previous year €(132) million
were recognized for the contribution to Banco Sabadell’s Deposit Guarantee Fund (DGF) and €(76) million for the contribution to the Single Resolution Fund (SRF), which offset the negative variation caused by the recognition of a more
severe impact of the bank levy in 2024, which was €(192) million compared to €(156) million in the previous year.

Total costs recorded a year-on-year increase of 5.4%, due to
higher staff expenses and an increase in general expenses.

91

As confidentially submitted to the Securities and Exchange Commission on August 11, 2025. This Amendment No. 4 has not been publicly filed with the Securities and Exchange Commission and all information herein remains strictly confidential. Provisions and impairments amounted to €(652) million, down by 20.1% year-on-year, mainly due to improved provisions for loan losses. 2024 saw the release of €54 million related to the debt recovered following a legal dispute and to provisions allocated for the impact of DANA. Corporation tax in 2024 includes a positive impact of c. €50 million, mainly due to tax deductions for R&D+i (research, development and innovation) activities.

|                                                                 |     |                 2024 |        |   |     | 2023 |        |   |     | Year-on-year change 
 (%)                 |       |   |
|                                                                 |     | -€ million, except % |        |   |     |      |        |   |     |                     |       |   |
| Net interest income                                             |     |                      |  3,652 |   |     |      |  3,353 |   |     |                     |   8.9 |   |