Company: BBVXF
Filing Date: 2025-07-31
Form Type: 6-K
Source: 0000842180-25-000033
Chunk: 11

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-07-31
Form: 6-K
Chunk 11
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 The primary business units included in this operating segment are:

• Spanish Retail Network : including individual customers, private banking, small companies and businesses in the domestic market;

• Corporate and Business Banking : which manages small and medium sized enterprises (“ SMEs ”), companies and corporations, and public institutions;

• Corporate and Investment Banking : responsible for business with large corporations and multinational groups and the trading floor and distribution business in Spain; and

• Other units: which includes the insurance business unit in Spain (BBVA Seguros) as well as the Group’s shareholding in Compañía de Seguros y Reaseguros, S.A., the Asset Management unit (which manages Spanish mutual funds and pension funds), lending to real estate developers and foreclosed real estate assets in Spain, as well as certain proprietary portfolios and certain funding and structural interest-rate positions of the euro balance sheet which are not included in the Corporate Center.

Cash, cash balances at central banks and other demand deposits amounted to €7,744 million as of June 30, 2025, a 39.2% decrease compared with the €12,734 million recorded as of December 31, 2024, mainly driven by decreases in cash held at the ECB, mainly due to the use of cash to make additional purchases of Spanish sovereign debt and other debt issuances, and increased lending activity, which was higher than the increase in deposits.

Financial assets at fair value of 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”) amounted to €107,499 million as of June 30, 2025, a 1.9% decrease from the €109,569 million recorded as of December 31, 2024, mainly as a result of the decrease in derivatives recorded under “Financial assets held for trading”, in the context of a falling interest rate environment, partially offset by the increase in Spanish sovereign debt securities.

Financial assets at amortized cost of this operating segment as of June 30, 2025 amounted to €253,008 million, a 6.6% increase compared with the €237,279 million recorded as of December 31, 2024. Within this heading, loans and advances to customers amounted to €188,584 million as of June 30, 2025, a 5.