Company: BBVXF
Filing Date: 2025-01-30
Form Type: 6-K
Source: 0001193125-25-016633
Chunk: 4

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-01-30
Form: 6-K
Chunk 4
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). Furthermore, the efficiency ratio improved considerably to 35.3 percent vs 40.5 percent a year ago. As for risk indicators, the NPL ratio improved to 3.7 percent (vs 4.1 percent), and the coverage ratio rose from 55 to 59 percent. The cost of risk remained stable, at 0.38 percent. In Mexico banking activity was noteworthy in all segments throughout the year, with lending growing by 16 percent. Customer funds also showed solid growth, 12 percent, driven mostly by off-balance sheet funds and time deposits with wholesale segments. Strong core revenues boosted gross income by 11 percent. Operating income (+12 percent yoy) and the efficiency ratio (at 30.3 percent) both improved despite the increase in operating expenses. Mexico posted a record net attributable profit of €5.45 billion, up 6 percent yoy. Risk indicators remained in line with expectations: the NPL ratio was 2.7 percent, the coverage ratio stood at 121 percent, and the cost of risk was 3.39 percent. In Türkiye, lending in Turkish lira increased 51 percent yoy, supported by retail segments, mostly cards and consumer loans. Foreign currency lending grew by 16 percent, supported by clients in foreign trade. Customer funds in local currency rose 39 percent, boosted by time and demand deposits. In the P&L account it is noteworthy the increase experienced by fees and commissions and NTI, which offset the pressure on NII, boosting gross income 41 percent in current euros, compared to the previous year. Net attributable profit reached €611 million in 2024 (+16 percent in current euros), benefitting from a lower adjustment for hyperinflation.

BBVA Creating Opportunities 01.30.2025 As for risk indicators, the NPL ratio stood at 3.1 percent, coverage was 96 percent and the cost of risk stood at 1.27 percent. Growth in lending activity (+17 percent) was notable in South America, particularly in commercial banking and new customer resources (+27 percent), mainly in deposits. The area posted a net attributable profit of €635 million, up 17 percent on the back of solid core revenues. In the breakdown per country, Peru registered a profit of €227 million; Argentina earned €182 million; and Colombia posted €90 million. Risk indicators in the region remained stable: The NPL ratio stood at 4.5 percent, coverage ratio was 88 percent, and