Company: BBVXF
Filing Date: 2025-04-29
Form Type: 6-K
Source: 0000842180-25-000023
Chunk: 48

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-04-29
Form: 6-K
Chunk 48
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 portfolio in Argentina and negative exchange differences in Colombia, partially offset by the better performance of the ALCO portfolio in Colombia. At constant exchange rates, net gains on financial assets and liabilities and exchange differences increased by 7.4%.

#### Other operating income and expense, net
Other operating income and expense, net of this operating segment for the three months ended March 31, 2025 was a €237 million expense, a 69.3% decrease compared with the €772 million expense recorded for the three months ended March 31, 2024, mainly driven by the lower loss on the net monetary position resulting from the adjustment for hyperinflation in Argentina, which resulted in a monetary loss of €117 million in the three months ended March 31, 2025, compared to the €655 million monetary loss recorded for the three months ended March 31, 2024.

Income and expense on insurance and reinsurance contracts

Net income on insurance and reinsurance contracts of this operating segment for the three months ended March 31, 2025 was €29 million, a 1.5% increase compared with the €28 million income recorded for the three months ended March 31, 2024, mainly as a result of higher income related to life insurance in Argentina, partially offset by the depreciation of the Argentine peso against the euro. At constant exchange rates, there was a 7.9% increase.

#### Administration costs
Administration costs of this operating segment for the three months ended March 31, 2025 amounted to €580 million, a 5.1% increase compared with the €552 million recorded for the three months ended March 31, 2024, mainly as a result of increases in personnel expenses, mainly driven by salary updates (aimed at compensating the loss of purchasing power due to inflation) and certain general expenses related to technology (affected by the high inflation) in Argentina, partially offset by the depreciation of the Argentine peso against the euro. At constant exchange rates, there was a 12.0% increase.

#### Depreciation and amortization
Depreciation and amortization for the three months ended March 31, 2025 was a €55 million expense, a 14.1% increase compared with the €49 million expense recorded for the three months ended March 31, 2024 mainly due to the increase in the depreciation expense related to IT equipment in Argentina.

Impairment or reversal of impairment on financial assets not measured at fair value through profit