Company: BBVXF
Filing Date: 2025-10-30
Form Type: 6-K
Source: 0001628280-25-047437
Chunk: 55

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-10-30
Form: 6-K
Chunk 55
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 nine months ended September 30, 2025 amounted to €596 million, a 14.1% increase compared with the €522 million recorded for the nine months ended September 30, 2024, mainly due to the increase in the corporate and investment banking activity of the New York branch, supported by the increase in loan activity, in particular, in the wholesale portfolio, and careful price management, partially offset by the depreciation of the U.S. dollar against the euro. At constant exchange rates, there was a 15.7% increase in net interest income. The net interest margin over average total assets of this operating segment amounted to 1.16% for the nine months ended September 30, 2025, compared with 1.17% for the nine months ended September 30, 2024.

#### Net fees and commissions
Net fees and commissions of this operating segment for the nine months ended September 30, 2025 amounted to €428 million, a 52.0% increase compared with the €281 million recorded for the nine months ended September 30, 2024 mainly due to increased investment banking activity in the New York branch and Europe and higher commissions charged to transactional banking clients, partially offset by the depreciation of the U.S. dollar against the euro. At constant exchange rates, there was a 53.9% increase in net fees and commissions.

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

Net gains on financial assets and liabilities and Exchange differences, net, of this operating segment for the nine months ended September 30, 2025 were €269 million, a 6.4% increase compared with the €252 million net gain recorded for the nine months ended September 30, 2024, mainly due to the higher positive exchange differences in Asia and the higher trading gains in the New York branch and in BBVA Securities Inc. mainly related to equity brokerage activity, partially offset by the depreciation of the U.S. dollar against the euro and lower trading gains in Asia and Europe. At constant exchange rates, there was an 8.8% increase in net gains on financial assets and liabilities and exchange differences.

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#### Administration costs
Administration costs of this operating segment for the nine months ended September 30, 2025 amounted to €596 million, a 25.2% increase compared with the €476 million recorded for the nine months ended September 30, 2024,