Company: BBVXF
Filing Date: 2025-04-29
Form Type: 6-K
Source: 0000842180-25-000020
Chunk: 46

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-04-29
Form: 6-K
Chunk 46
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, treasury management in Mexico and relevant operations in project finance and corporate lending.

– In the NTI line (+37.3%), the Global Markets unit showed a favorable evolution. Equity and currency trading stood out in the quarter. Commercial activity showed growth compared to the same period of the previous year, with special mention to the evolution in the United States, followed by South America.

– Operating expenses increased by 20.3% due to higher personnel expenses associated with strategic plans and new capacities, as well as growth in technology expenses, associated with the execution of strategic projects for the area. However, the efficiency ratio stood at 25.3% at the end of March, which represents an improvement of 332 basis points compared to the first three months of 2024, thanks to the strong growth in gross margin.

– Provisions for impairment on financial assets line recorded a provision of €24m, mainly originated in Europe, which compares with the €35m released in the previous year (28 at constant exchange rates).

17 CIB results do not include the application of hyperinflation accounting.

Translation of this report originally issued in Spanish. In the event of a discrepancy, the Spanish-language version prevails.

| 49 |

#### Alternative Performance Measures (APMs)
BBVA presents its results in accordance with the International Financial Reporting Standards (EU-IFRS). Additionally, the Group also considers that some Alternative Performance Measures (hereinafter APMs) provide useful additional financial information that should be taken into account when evaluating performance. They are considered complementary information and do not replace the financial information drafted according to the EU-IFRS. These APMs are also used when making financial, operational and planning decisions within the Entity. The Group firmly believes that they give a true and fair view of its financial information. These APMs are generally used in the financial sector as indicators for monitoring the assets, liabilities and economic and financial situation of entities.

BBVA Group's APMs are given below. They are presented in accordance with the European Securities and Markets Authority (ESMA) guidelines, published on October 5, 2015 (ESMA/2015/1415en). The guideline mentioned before is aimed at promoting the usefulness and transparency of APMs included in prospectuses or regulated information in order to protect investors in the European Union. In accordance with the indications given in the aforementioned guideline, BBVA Group's APMs:

– Include clear and readable definitions of the APMs.

– Disclose the reconciliations