Company: BBVXF
Filing Date: 2025-07-31
Form Type: 6-K
Source: 0000842180-25-000030
Chunk: 14

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-07-31
Form: 6-K
Chunk 14
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. The results of the insurance business, also included in this line, had a positive evolution.

| GROSS INCOME (MILLIONS OF EUROS ATCONSTANT EXCHANGE RATES) |

| +19.6% | -1 |

| 15,073 |     | 18,034 |

⁽¹⁾ At current exchange rates: +3.4%. Thanks to the remarkable growth in gross income, which increased by 19.6 %, well above the rate of growth in operating expenses, ( +10.2%) , the efficiency ratio fell to 37.6 % as of June 30, 2025 , which represents an improvement of 322 basis points compared to the ratio as of June 30, 2024, at constant exchange rates.

7 Weighted by operating expenses and excluding Venezuela. Translation of this report originally issued in Spanish. In the event of a discrepancy, the Spanish -language version prevails.

| January - June 2025Report - p.15 |

| OPERATING EXPENSES (MILLIONS OF EUROS ATCONSTANT EXCHANGE RATES) |

| +10.2% | -1 |

| 6,158 |     | 6,787 |

⁽¹⁾ At current exchange rates: -1.1%.

| EFFICIENCY RATIO (PERCENTAGE) |

| -322         |
| Basis points |

On a year-on-year basis, the increase in operating expenses at the Group level stood at 10.2 %, a rate that is below the inflation rates observed in the countries in which the Group has a presence (an average of 13.4% in the last 12 months 7 ). The quarter includes a positive effect on the general expenses line due to the recognition of a lower expense corresponding to the Value Added Tax at BBVA, S.A. following the upward re-estimation of its pro-rata applied both in previous years and in 2025 itself. The impairment on financial assets not measured at fair value through profit or loss (impairment on financial assets) stood at 9.7% at the end of June 2025 higher than in the same period of the previous year, due to year-on-year growth in lending to companies and, to a lesser extent, to retail customers. Turkey and Mexico required an increase in the level of provisions, which was partially offset by lower needs in South America and, to a lesser extent, in Spain.

| OPERATING INCOME