Company: BBVXF
Filing Date: 2025-10-30
Form Type: 6-K
Source: 0001628280-25-047437
Chunk: 22

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-10-30
Form: 6-K
Chunk 22
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 mainly due to increased wholesale loans in the branches located in New York, Europe and Asia, partially offset by the depreciation of the U.S. dollar against the euro.

Financial liabilities held for trading and designated at fair value through profit or loss of this operating segment as of September 30, 2025 amounted to €788 million, a 22.7% increase compared with the €642 million recorded as of December 31, 2024, mainly due to the increase in deposits (through repurchase agreements) in BBVA Securities Inc., our broker-dealer in the United States, and in the value of derivatives in the New York branch and the branches located in Asia, partially offset by the depreciation of the U.S. dollar against the euro.

Customer deposits at amortized cost of this operating segment as of September 30, 2025 amounted to €35,178 million, a 28.2% increase compared with the €27,432 million recorded as of December 31, 2024, mainly as a result of the growth in time deposits in the branches located in Europe and the increase in wholesale demand deposits in Europe and Asia, partially offset by the depreciation of the U.S. dollar against the euro and the decrease in wholesale time deposits in the New York branch.

Off-balance sheet funds of this operating segment (which consists of “Pension funds”, including customers’ portfolios) as of September 30, 2025 amounted to €687 million, a 6.5% increase compared with the €645 million recorded as of December 31, 2024 due to increases in the balance of pension funds, as declining interest rates reduced deposit yields and boosted the performance of fixed-income and equity funds.

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The non-performing loan ratio (as defined herein) of this operating segment decreased to 0.2% as of September 30, 2025 from 0.3% as of December 31, 2024, mainly due to the decrease in non-performing loans due to recoveries and charge offs. This operating segment’s non-performing loan coverage ratio (as defined herein) increased to 136% as of September 30, 2025, from 102% as of December 31, 2024.

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### OPERATING AND FINANCIAL REVIEW AND PROSPECTS

#### Critical Accounting Policies
For a description of our critical accounting policies, see Note 2 to the Unaudited