Company: BBVXF
Filing Date: 2025-01-30
Form Type: 6-K
Source: 0000842180-25-000002
Chunk: 1

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-01-30
Form: 6-K
Chunk 1
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                                             |     | 20 |
| Business areas                                              |     | 26 |
| Spain                                                       |     | 29 |
| Mexico                                                      |     | 33 |
| Turkey                                                      |     | 37 |
| South America                                               |     | 41 |
| Rest of Business                                            |     | 46 |
| Corporate Center                                            |     | 49 |
| Other pro forma information: Corporate & Investment Banking |     | 50 |
| Alternative Performance Measures (APMs)                     |     | 53 |
| Legal disclaimer                                            |     | 63 |

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

| 4 |

#### Highlights

### Results and business activity
The BBVA Group generated a net attributable profit of €10,054m in 2024, once again driven by the performance of recurring revenues of the banking business, that is, net interest income and net fees and commissions, which together grew by 13.2%. These results represent an increase of 25.4% compared to the same period of the previous year, and include the recording of the annual amount from the temporary levy on credit institutions and financial credit institutions of €285m, included in other operating income and expenses in the income statement.

In constant terms, excluding the impact of currency variations, operating expenses increased by 18.3% at Group level, affected by an environment of still high inflation in the countries where the Group has a presence, the growth of the workforce in all of them and the higher level of investments made in recent years. Thanks to the remarkable growth in gross income (+25.0%), which was notably greater than the growth in operating expenses, the efficiency ratio stood at 40.0% as of December 31, 2024, with an improvement of 226 basis points compared to the ratio as of December 31, 2023. The level achieved consolidates BBVA's leadership, in terms of efficiency, in between the fifteen biggest banks across Europe, comfortably achieving the Group's target of reaching 42% by the end of 2024.

The provisions for impairment on financial assets increased (+32.4% in year-on-year terms and at constant exchange rates), due to a high rate of growth in lending, both in loans to companies and in retail products, the most profitable in recent years, as well as the timing of the economic cycle in some of the Group´s geographical areas.

Loans and advances to customers recorded an