Company: BBVXF
Filing Date: 2025-04-29
Form Type: 6-K
Source: 0000842180-25-000020
Chunk: 34

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-04-29
Form: 6-K
Chunk 34
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% year-on-year). Total deposits maintained the strength of the last few months and grew 31.9% year-on-year at the end of February 2025. Turkish lira deposits continued to grow strongly in the same month (+45.8%) while US dollar deposits grew more slowly (+11.4%). Dollarization decreased to 34.2% in February of this year from 40.4% a year earlier. The NPL ratio of the system remains well under control and stood at 2.11% in February 2025. With respect to the capital indicators, they remain at comfortable levels as of the same date.

Unless expressly stated otherwise, all comments below on rates of changes for both activity and results, will be presented at constant exchange rates. These rates, together with changes at current exchange rates, can be observed in the attached tables of the financial statements and relevant business indicators. For the conversion of these figures, the end of period exchange rate as of March 31, 2025 is used, reflecting the considerable depreciation by the Turkish lira in the last twelve months. Likewise, the Balance sheet, the Risk-Weighted Asset (RWA) and the equity are affected.

#### Activity

#### 16
The most relevant aspects related to the area’s activity in the first quarter of 2025 were:

– Lending activity (performing loans under management) increased by 10.5%, mainly driven by the growth in Turkish lira loans (+6.4%, below the quarterly inflation rate, which stood at 10.1%) and, to a lesser extent, by the growth of foreign currency loans (+5.5%). Within Turkish lira loans, credit cards and consumer loans continue to drive the growth, which grew at rates of 4.2% and 7.3%, respectively.

– In terms of asset quality, the NPL ratio increased by 7 basis points compared to the figure as of the end of 2024 to 3.2%, mainly as a result of the increase in non-performing balances in the retail portfolio, partially offset by wholesale recoveries and sales of impaired loans. Consequently, the NPL coverage ratio recorded a decrease of 270 basis points in the quarter to 93% as of March 31, 2025.

– Customer deposits increased by 21.2%, with growth in both Turkish lira balances (+18.3%), as well as US dollar deposits (+21.0%), the latter mainly due to deposits from companies.