Company: BBVXF
Filing Date: 2025-08-12
Form Type: DRS
Source: 0000950123-25-007520
Chunk: 136

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-08-12
Form: DRS
Chunk 136
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 the Group amounted to
€1,332 million as at the end of 2023, representing strong year-on-year growth, mainly due to improved net interest income.

96

As confidentially submitted to the Securities and Exchange Commission on August 11, 2025. This Amendment No. 4 has not been publicly filed with the Securities and Exchange Commission and all information herein remains strictly confidential. Banking Business Spain: 2023 versus 2022 The information in this subsection has been extracted from pages 89 and 90 of Banco Sabadell’s annual report as of and for the year ended December 31, 2023. The comparative financial information as of and for the year ended December 31, 2022 included in Banco Sabadell’s annual report as of and for the year ended December 31, 2023 (and included below) has been restated to take into account the implementation of IFRS 17 (please see Note 1.4 to the consolidated financial statements of Banco Sabadell as of and for the year ended December 31, 2023). Net profit as at the end of 2023 amounted to €1,093 million, representing a year-on-yearincrease of 41.8%, mainly driven by the good evolution of net interest income. Net interest income amounted to €3,353 million as of the end of 2023, growing by 34.2% year-on-year,due to higher loan yields and improved fixed-income revenue, underpinned by higher interest rates, which offset the higher costs of funds and capital markets. Net fees and commissions stood at €1,247 million, 7.2% less than at year-end2022, mainly due to the drop in service fees and asset management fees, particularly fees on pension funds and insurance due to the change in the insurance product mix. Gains/(losses) on financial assets and liabilities and exchange differences amounted to €45 million, which represents a reduction in year-on-yearterms, mainly due to trading derivatives. Other income and expenses were mainly impacted by the €(156) million bank levy paid in 2023. Total costs recorded a year-on-yearincrease of 4.2%, due to higher staff expenses, including salary management in the wake of inflationary pressures, and to the increase in general expenses, particularly marketing and technology expenses. Provisions and impairments amounted to €816 million, down by 11.2% year-on-year,due to the booking of fewer provisions