Company: BBVXF
Filing Date: 2025-07-31
Form Type: 6-K
Source: 0000842180-25-000033
Chunk: 17

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-07-31
Form: 6-K
Chunk 17
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 held for trading and designated at fair value through profit or loss of this operating segment as of June 30, 2025 amounted to €1,719 million, an 11.6% 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 an increase in debt securities.

Customer deposits at amortized cost of this operating segment as of June 30, 2025 amounted to €58,250 million, a 0.3% increase compared with the €58,095 million recorded as of December 31, 2024, mainly due to the increase in Turkish lira-denominated time deposits and, to a lesser extent, U.S. dollar-denominated 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 June 30, 2025 amounted to €20,323 million, a 12.4% 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 3.4% as of June 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), due, in part, to higher impairment requirements in the wholesale portfolio and the increase in consumer and credit card 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 86% as of June 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. It also includes a representative office in Santiago (Chile).

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