Company: BBVXF
Filing Date: 2025-10-30
Form Type: 6-K
Source: 0001628280-25-047437
Chunk: 19

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-10-30
Form: 6-K
Chunk 19
---
 September 30, 2025, the Argentine peso and the Peruvian sol depreciated against the euro by 31.9% and 4.5% respectively, compared to December 31, 2024, while the Colombian peso remained practically unchanged. Overall, changes in exchange rates resulted in a negative exchange rate effect on the business activity of the South America operating segment as of September 30, 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 ”.

As of September 30, 2025 and December 31, 2024, the Argentine and Venezuelan economies were considered to be hyperinflationary as defined by IAS 29 “Financial Reporting in Hyperinflationary Economies”. See “ Presentation of Financial Information—Hyperinflationary Economies ” for information on the impact of hyperinflation accounting.

Cash, cash balances at central banks and other demand deposits as of September 30, 2025 amounted to €7,393 million, a 17.0% decrease compared with the €8,906 million recorded as of December 31, 2024, mainly driven by the credit gap widening in Colombia and Peru and the depreciation of the Argentine peso and the Peruvian sol against the euro , partially offset by the increase in deposits in Argentina.

Financial assets at fair value for this operating segment (which includes the following portfolios: “Financial assets held for trading”, “Non-trading financial assets mandatorily at fair value through profit or loss”, “Financial assets designated at fair value through profit or loss” and “Financial assets at fair value through other comprehensive income”) as of September 30, 2025 amounted to €10,528 million, a 3.3% decrease compared with the €10,884 million recorded as of December 31, 2024, mainly due to the depreciation of the Argentine peso and the Peruvian sol against the euro, partially offset by th e increase in derivatives in Colombia and the increase in debt securities in Argentina.

Financial assets at amortized cost of this operating segment as of September 30, 2025 amounted to €51,598 million, a 3.2% increase compared with the €49,983 million recorded as of December 31, 2024. Within this heading, loans and advances to customers of this operating segment as of September 30, 2025 amounted to €