Company: BBVXF
Filing Date: 2025-07-31
Form Type: 6-K
Source: 0000842180-25-000033
Chunk: 61

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-07-31
Form: 6-K
Chunk 61
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 trading portfolio from the Global Markets unit and, to a lesser extent, the depreciation of the Turkish lira against the euro, partially offset by the sale of certain securities portfolios. At constant exchange rates, there was a 52.4% decrease in net gains on financial assets and liabilities and exchange differences.

#### Other operating income and expense, net
Other operating income and expense, net of this operating segment for the six months ended June 30, 2025 was a €220 million net expense, a 10.5% decrease compared with the €245 million net expense recorded for the six months ended June 30, 2024, mainly due to the lower loss on the net monetary position resulting from the adjustment for hyperinflation (€496 million and €894 million in the six months ended June 30, 2025 and 2024, respectively) and, to a much lesser extent, higher gains from sales of non-financial services, partially offset by the depreciation of the Turkish lira against the euro and the lower positive impact of the revaluation of bonds linked to inflation in the period (€419 million and €704 million, respectively, in the six months ended June 30, 2025 and 2024, respectively). At constant exchange rates, there was a 48.1% 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 six months ended June 30, 2025 was €43 million, a 64.2% increase compared with the €26 million income recorded for the six months ended June 30, 2024, mainly due to the increase in insurance premiums, partially offset by the depreciation of the Turkish lira against the euro.

#### Administration costs
Administration costs of this operating segment for the six months ended June 30, 2025 amounted to €965 million, a 19.2% increase compared with the €810 million recorded for the six months ended June 30, 2024, mainly as a result of the increase in the number of employees, salary updates and the increase in general expenses (technology and marketing) driven to a great extent by the high average inflation rates, partially offset by the depreciation of the Turkish lira against the euro. At constant exchange rates, there was a 53.3% increase in administration costs, which was above Turkey’s inflation rate for the period.

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#### Depreciation and