Company: BBVXF
Filing Date: 2025-04-29
Form Type: 6-K
Source: 0000842180-25-000023
Chunk: 19

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-04-29
Form: 6-K
Chunk 19
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 “Financial liabilities held for trading” in Colombia, as a result, in part, of a gradual reduction in interest rates, which could have led investors to shift their funds toward higher-yielding financial instruments.

Customer deposits at amortized cost of this operating segment as of March 31, 2025 amounted to €50,317 million, a 0.8% decrease compared with the €50,738 million recorded as of December 31, 2024.

Off-balance sheet funds of this operating segment (which includes “Mutual funds”, including customers’ portfolios, in Argentina, Colombia and Peru) as of March 31, 2025 amounted to €8,559 million, a 7.8% increase compared with the €7,936 million as of December 31, 2024, mainly due to our strategy to boost private banking activities in the region, investors’ search for more liquid and profitable instruments, partially offset by the depreciation of the Argentine peso against the euro.

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The non-performing loan ratio (as defined herein) of this operating segment decreased to 4.3% as of March 31, 2025 from 4.5% as of December 31, 2024, mainly as a result of the decrease in non-performing loans, and higher write-offs in Peru and Colombia. This operating segment’s non-performing loan coverage ratio (as defined herein) increased to 90% as of March 31, 2025, from 88% as of December 31, 2024 as a result of the abovementioned decrease in non-performing loans.

### Rest of Business
This operating segment mainly includes the wholesale activity carried out by the Group in Europe (excluding Spain), the United States and (through BBVA branches located therein) Asia.

The U.S. dollar depreciated 3.9% against the euro as of March 31, 2025 compared to December 31, 2024, adversely affecting the business activity of the Rest of Business 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 as of March 31, 2025 amounted to €6,499 million, a 22.1% decrease compared with the €8,