Company: BBVXF
Filing Date: 2025-01-30
Form Type: 6-K
Source: 0000842180-25-000002
Chunk: 51

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-01-30
Form: 6-K
Chunk 51
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Translation of this report originally issued in Spanish. In the event of a discrepancy, the Spanish-language version prevails.

| 48 |

Unless expressly stated otherwise, all the comments below on rates of change, for both activity and results, will be given at constant exchange rates. These rates, together with the changes at current exchange rates, can be found in the attached tables of the financial statements and relevant business indicators. Comments that refer to Europe exclude Spain.

#### Activity
The most relevant aspects of the evolution of BBVA Group's Rest of Business activity during 2024 were:

– Lending activity (performing loans under management) registered a growth of 26.0%, driven by the favorable evolution of project finance as well as corporate lending, both in the New York branch and in Europe. Also noteworthy is the transactional business, which offers integral and personalized financial solutions, in both geographical areas through increased participation in factoring programs.

– Customer funds under management grew by 103.4%, boosted by the evolution of deposits, mainly in Europe and in the New York branch.

The most relevant aspects of the evolution of BBVA Group's Rest of Business activity during the fourth quarter of 2024 were:

– Lending activity (performing loans under management) grew at a rate of 11.3%, mainly due to the evolution of corporate loans (+13.6%). In terms of the geographical areas that make up this area, Europe and the New York branch stand out.

– On the other hand, compared to the end of September, the NPL ratio dropped to 0.3%, thanks to the growth in activity and the reduction of the non-performing balance. The coverage ratio increased to 102% due to the decrease in the non-performing balance.

– Customer funds under management increased by 11.1% mainly due to time deposits in the New York branch.

#### Results
Rest of Business achieved an accumulated net attributable profit of €500m accumulated at the end of 2024, 23.5% higher than in the same period of the previous year, favored by the performance of the recurrent revenues and the NTI, which offset the increase in operating expenses and loan-loss provisions.

In the year-on-year evolution of the main lines of the area's income statement at the end of December 2024, the following was particularly noteworthy:

– Net interest income showed an increase of 35.4% as a result of