Company: BBVXF
Filing Date: 2025-10-30
Form Type: 6-K
Source: 0001628280-25-047351
Chunk: 42

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-10-30
Form: 6-K
Chunk 42
---
 under management grew by 9.5 % compared to the closing balances at the end of 2024, where the evolution of off-balance sheet funds ( +21.5 %) and time deposits ( +10.6 %) stand out.

Translation of this report originally issued in Spanish. In the event of a discrepancy, the Spanish -language version prevails.

| January - September 2025Report - p.49 |

The most relevant aspects related to the area's activity during the third quarter of the year 2025 have been: – Lending activity registered a positive variation of 3.1%, mainly supported by the dynamism of commercial loans (+2.4%), credit consumption and credit cards (+4.1%, overall). – With regard to the quality of the credit granted, the area's NPL ratio stood at 4.1%, which represents a decrease of 11 basis points compared to the previous quarter, favored by the performance in Peru and Colombia. For its part, the coverage ratio for the area was 93%, which represents an increase of 355 basis points compared to the end of June, also driven by Peru and Colombia. – Customer funds under management increased at a rate of 5.0%, with growth of 4.3% in customer deposits and 9.3% in off-balance sheet funds. South America generated a net attributable profit of € 585 m at the end of the first nine months of 2025 , which represents a year- on-year growth of 24.1 % at current exchange rates, mainly derived from a less negative hyperinflation adjustment in Argentina, along with a better performance of net fees and commissions, and with a more reduced level of loan-loss provisions. The impact of the adjustment for hyperinflation implies, among other effects, recording in the income statement the loss on the net monetary position of the Argentina subsidiaries under "Other operating income and expenses" and amounted to €277m in the period January - September 2025 , much lower than the €1,178m recorded in the period January - September 2024 . More detailed information on the most representative countries of the business area is provided below. Argentina Macro and industry trends The outlook for economic growth deteriorated in the third quarter of 2025 due to the combination of high political uncertainty, high interest rates, and exchange rate pressures. BBVA Research has revised its GDP growth forecast for 2025 downwards to 4.5% (one percentage point lower than in the previous