Company: BBVXF
Filing Date: 2025-09-09
Form Type: 424B3
Source: 0001193125-25-198517
Chunk: 123

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-09
Form: 424B3
Chunk 123
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 Deposit Guarantee Fund (DGF) and €(76) million for the contribution to the Single Resolution Fund (SRF), which offset the negative variation caused by the recognition of a more
severe impact of the bank levy in 2024, which was €(192) million compared to €(156) million in the previous year.

Total costs recorded a year-on-year increase of 5.4%, due to
higher staff expenses and an increase in general expenses.

91

Provisions and impairments amounted to €(652) million, down by 20.1% year-on-year, mainly due to improved provisions for loan losses. 2024 saw the release of €54 million related to the debt recovered following a legal dispute and to provisions allocated for the impact of DANA. Corporation tax in 2024 includes a positive impact of c. €50 million, mainly due to tax deductions for R&D+i (research, development and innovation) activities.

|                                                                 |     |                 2024 |        |   |     | 2023 |        |   |     | Year-on-year change 
 (%)                 |       |   |
|                                                                 |     | -€ million, except % |        |   |     |      |        |   |     |                     |       |   |
| Net interest income                                             |     |                      |  3,652 |   |     |      |  3,353 |   |     |                     |   8.9 |   |
| Fees and commissions, net                                       |     |                      |  1,231 |   |     |      |  1,247 |   |     |                     |  (1.3 | ) |
| Core revenue                                                    |     |                      |  4,883 |   |     |      |  4,601 |   |     |                     |   6.1 |   |
| Profit or loss on financial operations and exchange differences |     |                      |     36 |   |     |      |     45 |   |     |                     | (19.9 | ) |
| Equity-accounted income and dividends                           |     |                      |    166 |   |     |      |    131 |   |     |                     |  26.5 |   |
| Other operating income and expenses                             |     |                      |   (249 | ) |     |      |   (404 | ) |     |                     | (38.3