Company: BBVXF
Filing Date: 2025-02-27
Form Type: F-4/A
Source: 0001193125-25-037317
Chunk: 103

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-27
Form: F-4/A
Chunk 103
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              |  123.9 |   |

The exchange rates applied to the income statement are GBP 0.8706 (average) in 2023 and 0.8532 (average) in 2022. 78

Banking Business Mexico: 2023 versus 2022 The information in this subsection has been extracted from pages 126 and 127 of Banco Sabadell’s annual report as of and for the year ended December 31, 2023. The comparative financial information as of and for the year ended December 31, 2022 included in Banco Sabadell’s annual report as of and for the year ended December 31, 2023 (and included below) has been restated to take into account the implementation of IFRS 17 (please see Note 1.4 to the consolidated financial statements of Banco Sabadell as of and for the year ended December 31, 2023). Net profit as at 2023 year-endamounted to €44 million, representing year-on-yeargrowth of 40.6%, supported by the appreciation of the Mexican peso. At constant exchange rates, this growth was 29.0%, mainly due to the good performance of net interest income. Net interest income came to €196 million, growing by 31.2% year-on-year,or 19.0% at constant exchange rates, underpinned by higher yields on the loan book and higher revenue from fixed-income. Net fees and commissions amounted to €15 million as at the end of 2023, increasing by €3 million compared to the previous year due to increased commercial activity. Total costs stood at €(108) million, representing growth of 25.8% compared to the previous year, affected by the appreciation of the Mexican peso. At constant exchange rates, costs increased by 14.1%, mainly due to higher general expenses, particularly marketing costs. Provisions and impairments stood above the 2022 year-endfigure, which included releases of several borrowers’ provisions. Capital gains on asset sales and other revenue were more negative due to an increase in IT asset write-offs.

|                                                                                  |     |                 2023 |      |   |     | 2022 |     |   |     | Year-on-year change 
 (%)                 |       |
|                                                                                  |     | -€ million, except % |      |   |     |      |     |   |     |                     |       |
| Net interest income                                                              |     |