Company: BBVXF
Filing Date: 2025-10-30
Form Type: 6-K
Source: 0001628280-25-047437
Chunk: 16

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-10-30
Form: 6-K
Chunk 16
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 2025 from 121% as of December 31, 2024, mainly due to higher requirements in the retail portfolio as a result of the increase in coverage requirements resulting from adverse changes in the macroeconomic outlook.

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#### Turkey
This operating segment comprises the activities carried out by Garanti BBVA as an integrated financial services group operating in the banking, insurance and asset management business in Turkey, including corporate, commercial, SME, payment systems, retail, private and investment banking, together with its subsidiaries in pension and life insurance, leasing, factoring, brokerage and asset management, as well as its international subsidiaries in Romania and the Netherlands.

The Turkish lira depreciated 24.8% against the euro as of September 30, 2025 compared to December 31, 2024, adversely affecting the business activity of the Turkey operating segment as of September 30, 2025 expressed in euros. See “ Operating and Financial Review and Prospects―Operating Results―Factors Affecting the Comparability of our Results of Operations and Financial Condition―Trends in Exchange Rates ”.

Since the first half of 2022, the Turkish economy has been considered to be hyperinflationary as defined by IAS 29 “Financial Reporting in Hyperinflationary Economies”. See “ Presentation of Financial Information—Hyperinflationary Economies ” for information on the impact of hyperinflation accounting.

BBVA’s operations in Turkey are subject to substantial regulation by Turkish national authorities. See “ Other Matters—Regulatory Update for Turkey ” for summarized information on certain recent changes to regulations that are relevant to our operations.

Cash, cash balances at central banks and other demand deposits amounted to €9,996 million as of September 30, 2025, a 13.2% increase compared with the €8,828 million recorded as of December 31, 2024, mainly driven by increases in cash balances held at the Central Bank of the Republic of Turkey (“

#### CBRT
”) through repurchase agreements, increases in the proceeds of debt issuances completed during the nine months ended September 30, 2025 and the increase in customer deposits (which grew more than loans and advances to customers), partially offset by the depreciation of the Turkish lira against the euro .

Financial assets at fair value of this operating segment (which includes the following portfolios: “Financial assets held for trading”, “Non-trading financial assets mandatorily at fair value through profit or loss”,