Company: BBVXF
Filing Date: 2025-04-29
Form Type: 6-K
Source: 0000842180-25-000023
Chunk: 44

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-04-29
Form: 6-K
Chunk 44
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ira against the euro and the lower loss on the net monetary position resulting from the adjustment for hyperinflation (€348 million and €550 million in the three months ended March 31, 2025 and 2024, respectively), partially offset by the lower positive impact of the revaluation of bonds linked to inflation in the period (€311 million and €439 millio n, respectively, in the three months ended March 31, 2025 and 2024) and higher income from non-financial services. At constant exchange rates, there was a 36.4% decrease in net expense.

Income and expense on insurance and reinsurance contracts

Net income on insurance and reinsurance contracts of this operating segment for the three months ended March 31, 2025 was €19 million, a 60.1% increase compared with the €12 million income recorded for the three months ended March 31, 2024, mainly due to the increase in insurance premiums, partially offset by the depreciation of the Turkish lira. At constant exchange rates, there was an 86.9% increase.

#### Administration costs
Administration costs of this operating segment for the three months ended March 31, 2025 amounted to €518 million, a 29.7% increase compared with the €400 million recorded for the three months ended March 31, 2024, mainly as a result of the increase in salaries and in general expenses (technology, outsourced services and maintenance) driven to a great extent by the high average inflation rates, partially offset by the depreciation of the Turkish lira. At constant exchange rates, administration costs increased by 51.0%, which was above Turkey’s inflation rate for the period.

#### Depreciation and amortization
Depreciation and amortization for the three months ended March 31, 2025 was €59 million, a 31.0% increase compared with the €45 million recorded for the three months ended March 31, 2024, mainly due to increases in the depreciation expense related to IT equipment, partially offset by the depreciation of the Turkish lira. At constant exchange rates, there was a 41.4% increase.

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, 202