Company: BBVXF
Filing Date: 2025-10-30
Form Type: 6-K
Source: 0001628280-25-047437
Chunk: 14

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-10-30
Form: 6-K
Chunk 14
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 shift towards mutual funds from other instruments, as declining interest rates reduced deposit yields and boosted the performance of fixed-income and equity funds.

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This operating segment’s non-performing loan ratio (defined as non-performing loans divided by total credit risk and calculated as the sum of impaired loans and advances to customers, impaired guarantees to customers and other impaired commitments divided by the sum of loans and advances to customers, guarantees to customers and other commitments) decreased to 3.1% as of September 30, 2025 from 3.7% as of December 31, 2024. This ratio was positively affected by the sale of non-performing loan portfolios and a decrease in the amount of non-performing loans due to improvements in collateralized loans, particularly in the third quarter of 2025, and increases in loans to the public sector, corporate loans and consumer loans, increasing the overall loans and advances to customers in the ratio’s denominator. This operating segment’s non-performing loan coverage ratio (defined as allowance for credit losses divided by non-performing loans and calculated as loss allowances on loans and advances divided by the sum of impaired loans and advances to customers, impaired guarantees to customers and other impaired commitments) increased to 65% as of September 30, 2025 from 59% as of December 31, 2024.

#### Mexico
The Mexico operating segment includes the banking, insurance and asset management business conducted in Mexico by BBVA Mexico. It also includes BBVA Mexico’s agency in Houston.

The Mexican peso remained practically unchanged against the euro as of September 30, 2025 compared with December 31, 2024. See “ Operating and Financial Review and Prospects―Operating Results―Factors Affecting the Comparability of our Results of Operations and Financial Condition―Trends in Exchange Rates ”.

Cash, cash balances at central banks and other demand deposits amounted to €12,326 million as of September 30, 2025, a 1.9% decrease compared with the €12,564 million recorded as of December 31, 2024, mainly driven by the decrease in cash balances related to repurchase agreements activity, partially offset by the proceeds of debt issuances completed during the nine months ended September 30, 2025.

Financial assets at fair value of this operating segment (which includes the following portfolios: “Financial assets held for trading”, “Non-trading financial assets mandatorily at fair value through profit or loss”, “