Company: BBVXF
Filing Date: 2025-07-31
Form Type: 6-K
Source: 0000842180-25-000033
Chunk: 66

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-07-31
Form: 6-K
Chunk 66
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1% decrease compared with the €62 million net income recorded for the six months ended June 30, 2024, mainly as a result of the depreciation of the Argentine peso against the euro. At constant exchange rates, there was a 5.6% increase in income and expense on insurance and reinsurance contracts.

#### Administration costs
Administration costs of this operating segment for the six months ended June 30, 2025 amounted to €1,088 million, a 3.8% decrease compared with the €1,131 million recorded for the six months ended June 30, 2024, mainly as a result of the depreciation of the Argentine peso against the euro, partially offset by increases in personnel expenses, mainly driven by salary updates (aimed at compensating the loss of purchasing power due to inflation) and certain general expenses related to marketing (affected by the high inflation) in Argentina. At constant exchange rates, there was a 9.2% increase in administration costs.

#### Depreciation and amortization
Depreciation and amortization for the six months ended June 30, 2025 was a €106 million expense, a 3.2% increase compared with the €103 million expense recorded for the six months ended June 30, 2024. At constant exchange rates, there was a 6.9% increase in depreciation and amortization.

Impairment or reversal of impairment on financial assets not measured at fair value through profit or loss or net gains by modification

Impairment or reversal of impairment on financial assets not measured at fair value through profit or loss or net gains by modification of this operating segment for the six months ended June 30, 2025 was a €528 million expense, a 30.1% decrease compared with the €755 million expense recorded for the six months ended June 30, 2024, mainly as a result of lower credit impairment requirements in the retail loan portfolios in Colombia and Peru and, to a lesser extent, the improvement in credit ratings in Argentina and the depreciation of the Argentine peso against the euro, partially offset by higher credit impairments in the retail loan portfolio in Argentina, in particular, related to consumer and credit card loans, as a result in part of the greater credit activity (as we increased private lending as a result of lower government borrowings). At constant exchange rates, there was a 24.8% decrease in impairment or reversal of impairment on financial assets not measured at fair value through profit or loss or net gains