Company: BBVXF
Filing Date: 2025-04-29
Form Type: 6-K
Source: 0000842180-25-000023
Chunk: 40

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-04-29
Form: 6-K
Chunk 40
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 8.6% increase compared with the €208 million income recorded for the three months ended March 31, 2024, mainly due to the increase in insurance premiums, attributable in part to higher insurance sales, partially offset by the depreciation of the Mexican peso against the euro. At constant exchange rates, net income and expense on insurance and reinsurance contracts increased by 26.7% .

#### Administration costs
Administration costs of this operating segment for the three months ended March 31, 2025 were €1,036 million, a 2.9% decrease compared with the €1,066 million recorded for the three months ended March 31, 2024, mainly as a result of the depreciation of the Mexican peso against the euro, partially offset by the higher salaries and the higher general expenses related mainly to IT. At constant exchange rates, administration costs increased by 13.2%.

#### Depreciation and amortization
Depreciation and amortization for the three months ended March 31, 2025 was €108 million, a 15.1% decrease compared with the €127 million recorded for the three months ended March 31, 2024, mainly due to depreciation of the Mexican peso against the euro. At constant exchange rates, depreciation and amortization decreased by 1.0 %.

Impairment or reversal of impairment on financial assets not measured at fair value through profit or loss or net gains by modification

Impairment or reversal of impairment on financial assets not measured at fair value through profit or loss or net gains by modification of this operating segment for the three months ended March 31, 2025 was a €696 million expense, a 7.5% decrease compared with the €752 million expense recorded for the three months ended March 31, 2024, mainly due to the depreciation of the Mexican peso against the euro, partially offset by the increase in the volume of loans to SMEs, which implied higher credit requirements. At constant exchange rates, impairment or reversal of impairment on financial assets not measured at fair value through profit or loss or net gains by modification increased by 7.8 %.

### Provisions or reversal of provisions and other results
Provisions or reversal of provisions and other results of this operating segment for the three months ended March 31, 2025 were a € 14 million expense, a 16.5% increase compared with the €12 million expense recorded for the three months ended March 31, 2024, mainly due