Company: BBVXF
Filing Date: 2025-10-30
Form Type: 6-K
Source: 0001628280-25-047351
Chunk: 8

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-10-30
Form: 6-K
Chunk 8
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 further reductions during 2026 to reach levels of 3%. In the Eurozone, BBVA Research expects the ECB to keep the deposit facility interest rate unchanged (at 2%) if inflationary pressures remain contained (the average inflation rate could close 2025 at 2.0% and 2026 at 1.8%) and downside risks to growth do not intensify. In China, monetary conditions are likely to continue to ease given the current context of very low inflation. The balance of risks for the global economy remains weighted to the downside. In addition to protectionist measures in trade and immigration, and the structural challenges facing Europe and China, there is also uncertainty about the Fed's independence and its potential impact on financial markets.

| GDP GROWTH ESTIMATES IN 2025 (PERCENTAGE. YEAR-ON-YEAR VARIATION) |

Source: BBVA Research estimates.

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

| January - September 2025Report - p.11 |

Group Quarterly evolution of results BBVA Group's net attributable profit for the third quarter of 2025 was € 2,531 m, 8.0 % below the previous quarter. The third quarter saw a favorable performance in recurring revenues from the banking business and NTI. This was offset by higher operating expenses during the quarter due to the recognition in the second quarter of a lower cost corresponding to the Value Added Tax (VAT) in BBVA S.A., a more negative impact in the line of other operating income and expenses, and higher provisions for impairment on financial assets.

| CONSOLIDATED INCOME STATEMENT: QUARTERLY EVOLUTION (MILLIONS OF EUROS)          |        |        |        |     |        |        |        |        |
| 2025                                                                            |        |        |        |     |   2024 |        |        |        |
|                                                                                 |     3Q |     2Q |     1Q |     |     4Q |     3Q |     2Q |     1Q |
| Net interest income                                                             |  6,640 |  6,208 |  6,398 |     |  6,406 |  5,868 |  6,481 |  6,512 |
| Net fees and commissions                                                        |  2,060 |  1,951