Company: BBVXF
Filing Date: 2025-10-30
Form Type: 6-K
Source: 0001628280-25-047437
Chunk: 45

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-10-30
Form: 6-K
Chunk 45
---
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.

Regulation and monetary policy, including the liraization strategy adopted by the CBRT to protect the Turkish lira, has affected this operating segment. See “ Item 4. Information on the Company—Business Overview—Supervision and Regulation—Principal Markets—Turkey ” in our 2024 Form 20-F and “ Other Matters—Regulatory Update for Turkey ”.

#### Net interest income
Net interest income of this operating segment for the nine months ended September 30, 2025 amounted to €2,137 m illion compared with the €925 million recorded for the nine months ended September 30, 2024, as a result mainly of the higher volume of Turkish lira-denominated loans supported by the lessening of the loan reserve requirements by the CBRT throughout 2025 , and the higher customer spread (calculated as the average rate at which assets are remunerated, less the equivalent average rate for deposits), partially offset by the depreciation of the Turkish lira against the euro and, to a lesser extent, the higher cost of wholesale funding. The period-on-period comparison was positively affected by changes in the reserve requirement for foreign currency deposits, w hich was set at 8.0% as of February 2024 and reduced in September 2024 (5.0%), November 2024 (4.0%) and June 2025 (2.5%) (see “ Other Matters—Regulatory Update for Turkey ”), and which requires Garanti BBVA to make Turkish lira-denominated deposits with the CBRT in such proportion with respect to all foreign currency-denominated deposits and participation funds, excluding those obtained from banks abroad, regardless of their maturities. The net interest margin over average total assets of this operating segment amounted to 3.34% for the nine months ended September 30, 2025, compared with 1.69% for the nine months ended September 30, 2024.

<div align='center'>30</div>

#### Net fees and commissions
Net fees and commissions of this operating segment for the nine months ended September 30, 2025 amounted to €1,602 million, a 14.1% increase compared with the €1