Company: BBVXF
Filing Date: 2025-04-29
Form Type: 6-K
Source: 0001193125-25-101894
Chunk: 3

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-04-29
Form: 6-K
Chunk 3
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Q25, up 39 percent from a year earlier. At the end of March, risk indicators performed better than expected: The accumulated cost of risk stood at 1.30 percent in 1Q25 (12 bps below the previous quarter). The coverage ratio and the NPL ratio improved to 82 and 2.9 percent, respectively. The BBVA Group reported a net attributable profit of €2.7 billion in the first quarter, up 46 percent from the same period of the previous year (+23 percent in current euros). Earnings per share grew at a slightly faster pace, boosted by the share buyback program in 2024. Thanks to these earnings, profitability indicators improved: ROTE stood at 20.2 percent, and ROE at 19.3 percent. These metrics place BBVA at the forefront among European peers. Moreover, BBVA continued to create value for its shareholders. The tangible book value per share plus dividends stood at €9.84 at the end of March, up 14 percent from a year earlier.

These figures have allowed BBVA to increase even more its capital position. The CET1 ratio stood at 13.09 percent at the end of March, up 21 bps from Dec. 2024, and well above its requirement and its target range. Business areas In Spain, lending increased by nearly 7 percent yoy, with a solid performance of the commercial segment (which in total grew by 8.5 percent), and consumer and cards (+7.5 percent). Customer funds rose 3.5 percent, boosted by off-balancesheet funds, mainly investment funds and managed portfolios. Spain reported a net attributable profit of €1.02 billion in 1Q25, up 44 percent from a year earlier, driven by core revenues, improvement in efficiency 591 bps to 32.2 percent- and lower loan-loss provisions. The cost of risk improved to 0.30 percent vs the end of 2024. The NPL ratio and the coverage ratio also improved to 3.5 percent and 61 percent, respectively, which represents a better-than-expected performance. In this quarter and under the heading of taxes on profit, it also stood out the recording of the 1Q25 accrual of the new tax on NII and fees and commissions, which amounted to about €85 million. In Mexico, greater lending activity set the pace in the quarter, which grew by more than 17 percent yoy, with