Company: BBVXF
Filing Date: 2025-09-09
Form Type: 424B3
Source: 0001193125-25-198517
Chunk: 119

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-09
Form: 424B3
Chunk 119
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 and by 7
basis points during the quarter, mainly due to lower credit yields, in turn affected by lower interest rates, which offset the reduced cost of deposits. Excluding TSB, the customer margin stood at 3.00%, representing a reduction of 41 basis points
compared to the end of the previous June and of 10 basis points during the quarter.

The net interest margin as a percentage of
average total assets fell by 13 basis points year-on-year and by 5 basis points during the quarter, while ex-TSB it fell by 21 basis points year-on-year and by 4bps in the quarter.

Profit or Loss on Financial Operations and Exchange Differences

As at the end of June 2025, this item came to a total of €29 million, remaining practically in line with the previous year and falling
during the quarter due to fewer sales from the fixed-income portfolio.

Net Fees and Commissions

Net fees and commissions amounted to €694 million as at the end of June 2025, representing a year-on-year increase of 3.0% at the Group
level and of 4.6% excluding TSB, mainly as a result of increased asset management and insurance fees.

Income from Equity Method and Dividends

This item amounted to €102 million as at the end of June 2025, increasing by 17.6% year-on-year.

Other Operating Income and Expenses

This item amounted to €(35) million as at the end of June 2025, compared to €(230) million at the end of June 2024. The positive
year-on-year variation was mainly due to the banking tax. In 2024, the amount for the full year was booked in the first quarter and amounted to €(192) million, while in 2025 it was booked under the tax line item, recognizing €(62) million,
which correspond to the straight-line accrual of the amount estimated for the entire year.

Total Costs

Total costs came to €1,510 million as at the end of June 2025, thus declining by 0.3% year-on-year, due both to reduced general expenses
and to amortizations/ depreciations, which were partially offset by the increase in staff expenses. Excluding TSB, they grew by 1.8%, mainly due to the increase in staff expenses.

Provisions for Credit Losses and Other Impairments

This item came to a total of €(262