Company: BBVXF
Filing Date: 2025-04-29
Form Type: 6-K
Source: 0000842180-25-000023
Chunk: 27

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-04-29
Form: 6-K
Chunk 27
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prises the following income statement line items contained in the Unaudited Condensed Interim Consolidated Financial Statements: “Gains (losses) on derecognition of financial assets and liabilities not measured at fair value through profit or loss, net”, “Gains (losses) on financial assets and liabilities held for trading, net”, “Gains (losses) on non-trading financial assets mandatorily at fair value through profit or loss, net”, “Gains (losses) on financial assets and liabilities designated at fair value through profit or loss, net” and “Gains (losses) from hedge accounting, net”.

(2) Not meaningful.

(3) Calculated as “Gross income” less “Administration costs” and “Depreciation and amortization”.

The changes in our unaudited condensed interim consolidated income statements for the three months ended March 31, 2025 compared with the same period of 2024 were as follows:

Net interest income

Net interest income for the three months ended March 31, 2025 amounted to €6,398 million, a 1.7% decrease compared with the €6,512 million recorded for the three months ended March 31, 2024, mainly as a result of the depreciation in average terms of the currencies of the main countries where the Group operates, except for the U.S. dollar and the Peruvian sol, the lower yield in the securities portfolio and the lower yield and volume in the public sector loan portfolio in South America, particularly in Argentina driven in part, with respect to the yield, by the decline in the monetary policy rate in Argentina, partially offset by the higher volume and yield of Turkish lira-denominated loans , the increase in volume of sovereign debt securities, the higher customer spread in Turkey and, to a lesser extent, increases in the volume of the loan portfolio and lower wholesale funding costs in Mexico.

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Fee and commission income

Fee and commission income increased by 12.7% to €3,297 million for the three months ended March 31, 2025 from the €2,926 million recorded for the three months ended March 31, 2024, primarily due to the increase in payment systems fees (fees related to credit and debit cards and points of sale (POS)) supported by the increase in the maximum credit card fees banks may charge in Turkey pursuant to the regulation established by the CBRT in November 2024 and, to