Company: BBVXF
Filing Date: 2025-10-30
Form Type: 6-K
Source: 0001628280-25-047437
Chunk: 18

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-10-30
Form: 6-K
Chunk 18
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% decrease compared with the €1,943 million recorded as of December 31, 2024, mainly due to the depreciation of the Turkish lira against the euro, partially offset by the increase in debt certificates issued by Garanti.

Customer deposits at amortized cost of this operating segment as of September 30, 2025 amounted to €60,866 million, a 4.8% increase compared with the €58,095 million recorded as of December 31, 2024, mainly due to the increase in Turkish lira-denominated retail and wholesale demand and time deposits, partially offset by the depreciation of the Turkish lira against the euro.

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Off-balance sheet funds of this operating segment (which includes “Mutual funds” and “Pension funds”) as of September 30, 2025 amounted to €23,691 million, a 31.1% increase compared with the €18,076 million as of December 31, 2024, mainly due to increases in mutual funds as a result of the shift towards higher-return investments, partially offset by the depreciation of the Turkish lira against the euro.

The non-performing loan ratio (as defined herein) of this operating segment increased to 3.7% as of September 30, 2025 from 3.1% as of December 31, 2024, mainly as a result of the increase in the balance of non-performing retail loans (mainly credit card and consumer loans) and, to a lesser extent, in the balance of non-performing wholesale loans, due, in part, to higher impairment requirements and the increase in consumer, credit card and wholesale loans, partially offset by the sale of non-performing loan portfolios and certain recoveries from the wholesale loan portfolios. This operating segment’s non-performing loan coverage ratio (as defined herein) decreased to 78% as of September 30, 2025 from 96% as of December 31, 2024, mainly due to new Stage 3 entries.

#### South America
The South America operating segment includes the Group’s banking, finance, insurance and asset management business mainly in Argentina, Chile, Colombia, Peru, Uruguay and Venezuela.

The main business units included in the South America operating segment are:

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#### Retail and Corporate Banking
: includes banks in Argentina, Chile, Colombia, Peru, Uruguay and Venezuela.

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#### Insurance
: includes insurance businesses in Argentina, Colombia and Venezuela.

As of