Company: BBVXF
Filing Date: 2025-07-31
Form Type: 6-K
Source: 0000842180-25-000033
Chunk: 68

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-07-31
Form: 6-K
Chunk 68
---
Gains (losses) on derecognition of financial assets and liabilities not measured at fair value through profit or loss, net”, “Gains (losses) on financial assets and liabilities held for trading, net”, “Gains (losses) on non-trading financial assets mandatorily at fair value through profit or loss, net”, “Gains (losses) on financial assets and liabilities designated at fair value through profit or loss, net”, “Gains (losses) from hedge accounting, net” and “Exchange differences, net”.

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

In the six months ended June 30, 2025, the U.S. dollar depreciated by 1.1% against the euro in average terms compared with the six months ended June 30, 2024. See “―Factors Affecting the Comparability of our Results of Operations and Financial Condition―Trends in Exchange Rates” .

#### Net interest income
Net interest income of this operating segment for the six months ended June 30, 2025 amounted to €376 million, a 12.0% increase compared with the €335 million recorded for the six months ended June 30, 2024, mainly due to the increase in the corporate and investment banking activity of the New York branch, supported by the increase in loan activity and careful price management, partially offset by the depreciation of the U.S. dollar against the euro. At constant exchange rates, there was a 14.9% increase in net interest income. The net interest margin over average total assets of this operating segment amounted to 1.15% for the six months ended June 30, 2025, compared with 1.12% for the six months ended June 30, 2024.

#### Net fees and commissions
Net fees and commissions of this operating segment for the six months ended June 30, 2025 amounted to €277 million, a 54.6% increase compared with the €179 million recorded for the six months ended June 30, 2024 mainly due to increased investment banking activity in Europe and in the New York branch and higher commissions charged to transactional banking clients, partially offset by the depreciation of the U.S. dollar against the euro. At constant exchange rates, there was a 57.5% increase in net fees and commissions.

Net gains (loss