Company: BBVXF
Filing Date: 2025-01-30
Form Type: 6-K
Source: 0000842180-25-000002
Chunk: 38

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-01-30
Form: 6-K
Chunk 38
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 of December 2024, stable compared to the previous quarter.

– Customer deposits under management were 3.9%,higher than at the end of September 2024 due to the evolution of demand deposits, the lowest cost deposits for BBVA Mexico, which grew 6.7% in the quarter, helped by the seasonal increase at the end of the year.

#### Results
BBVA Mexico achieved a cumulative net attributable profit of €5,447m at the end of December 2024, representing a growth of 5.8% compared to the end of the previous year, mainly due to the evolution of the recurring income from the banking business and with all lines that contribute to the gross income showing high dynamism.

The most relevant aspects of the year-on-year changes in the income statement as of the end of December 2024 are summarized below:

– Net interest income increased by 8.0%, as a result of the growth in lending activity and the profitability of the securities portfolio.

– Net fees and commissions continued to grow at double digit (+13.4%), favored by higher transaction volumes and driven by almost all types of fees, particularly those associated with credit cards, mutual fund management and wholesale activity.

– The contribution from NTI increased (+38.5%) mainly as a result of the performance of Global Markets and the foreign exchange trading.

– Other operating income and expenses grew by 42.0%, driven by the favorable evolution of the insurance business which benefited from cross-selling due to a higher volume of lending activity and partially offset by an increase in the contribution to the DGF.

– Operating expenses grew (+8.8%), mainly due to higher personnel expenses associated with the increase in the headcount over the course of 2023, and, to a lesser extent, the increase of general expenses, where investments in technology stand out.

14 Breakdown of activity data by portfolio based on local accounting criteria.

Translation of this report originally issued in Spanish. In the event of a discrepancy, the Spanish-language version prevails.

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– Loan-loss provisions increased (+28.1%), affected by the higher provisioning needs in the retail portfolio, mainly in consumer and credit cards, due to the growth of these profitable segments and the worsening of the macroeconomic scenario compared to the one initially forecast at the beginning of 2024. For its part, the cumulative cost of risk at the end of December 2024 stood at 3.39%, which represents a decrease of 4 basis points compared to the one registered at