Company: BBVXF
Filing Date: 2025-10-30
Form Type: 6-K
Source: 0001628280-25-047351
Chunk: 46

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-10-30
Form: 6-K
Chunk 46
---
 the same period of the previous year (at current exchange rates), favored by a more efficient cost management, and particularly, a lower level of provisions for impairment on financial assets associated with the lower requirements of the retail portfolio as a result of lower entries into NPLs. Third quarter net attributable profit stood at € 48m , 20.6 % above the previous quarter at current exchange rates, mainly as result of the dynamism of the recurring revenues and NTI, and lower loan-loss provisions needs in the retail portfolio, which have been reflected in a 19 basis points decrease in the quarter in the cumulative cost of risk as of September 30, 2025, which stood at 2.24%. Peru Macro and industry trends Economic activity has maintained a relatively favorable performance during the first half of 2025, thanks to the dynamism of the domestic demand and support from gold and copper prices. According to BBVA Research, GDP growth could stand at 3.1% in 2025, in line with the previous forecast, and remain at around that level in 2026 amid growing domestic political uncertainty. Controlled inflation, which stood at 1.4% in September and is expected to rise gradually to 1.8% in December and 2.5% throughout 2026, and low interest rates, which could remain unchanged at the current 4.25%, support growth expectations going forward. Total lending in the Peruvian banking system continued the trend of recent quarters and increased 4.8% year-on-year in August 2025, with growth in all portfolios. Thus, the consumer credit portfolio grew by 10.1% year-on-year, the mortgage portfolio increased by 6.4% and the corporate loan portfolio by 2.5% year-on-year. The system's total deposits lost momentum in August 2025, with year-on-year growth of 3.3% due to the contraction in time deposits (-1.4% year-on-year), which was partially offset by 5.8% growth in demand deposits. Finally, the system's NPL ratio continued on a downward trend, reaching a rate of 3.46% in August 2025. Activity and results – Lending activity grew by 2.2% compared to the end of December 2024, focused on the retail portfolios, mainly mortgages and consumer loans, which offset the deleveraging in the wholesale portfolios. In the third quarter of 2025, lending growth stood at 1