Company: BBVXF
Filing Date: 2025-04-29
Form Type: 6-K
Source: 0000842180-25-000023
Chunk: 36

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-04-29
Form: 6-K
Chunk 36
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.8% increase compared with the €552 million recorded for the three months ended March 31, 2024, mainly due to the increase in the volume of asset management activities.

Net gains (losses) on financial assets and liabilities and Exchange differences, net

Net gains on financial assets and liabilities and exchange differences of this operating segment for the three months ended March 31, 2025 was a net gain of €248 million, a 16.7% increase compared with the €212 million net gain recorded for the three months ended March 31, 2024, mainly as a result of the positive performance of the Global Markets unit in Spain, partially offset by negative exchange differences.

#### Other operating income and expense, net
Other operating income and expense, net of this operating segment for the three months ended March 31, 2025 amounted to a €14 million expense, a 95.4% decrease compared with the €306 million expense recorded for the three months ended March 31, 2024. Other operating expense for the three months ended March 31, 2024 was mainly related to the then-estimated impact of the temporary tax on credit institutions and financial credit establishments in Spain amounting to €285 million (which was paid in 2024), whereas the quarterly expense related to the new tax on the interest margin and commissions of certain financial entities was recorded under “Tax expense or income related to profit or loss from continuing operations” for the three months ended March 31, 2025.

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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 € 103 million, a 6.5% increase compared with the €97 million income recorded for the three months ended March 31, 2024.

#### Administration costs
Administration costs of this operating segment for the three months ended March 31, 2025 and 2024 amounted to €723 million.

#### Depreciation and amortization
Depreciation and amortization for the three months ended March 31, 2025 was € 93 million, a 1.0% decrease compared with the €94 million recorded for the three months ended March 31, 2024.

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