Company: BBVXF
Filing Date: 2025-04-29
Form Type: 6-K
Source: 0000842180-25-000023
Chunk: 14

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-04-29
Form: 6-K
Chunk 14
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,725 million recorded as of December 31, 2024, mainly attributable to the depreciation of the Mexican peso against the euro, partially offset by the increase in loans to SMEs supported by specific initiatives aimed at promoting this portfolio and increases in consumer loans.

Financial liabilities held for trading and designated at fair value through profit or loss of this operating segment as of March 31, 2025 amounted to €24,943 million, a 19.2% decrease compared with the €30,885 million recorded as of December 31, 2024, mainly as a result of the decrease in deposits from BANXICO (through repurchase agreements) recorded under “Financial liabilities held for trading” and, to a lesser extent, the depreciation of the Mexican peso against the euro.

Customer deposits at amortized cost of this operating segment as of March 31, 2025 amounted to €86,731 million, a 2.1% increase compared with the €84,949 million recorded as of December 31, 2024, mainly as a result of increases in demand deposits (which bear a lower cost for BBVA than time deposits), partially offset by the depreciation of the Mexican peso against the euro.

Off-balance sheet funds of this operating segment (which includes “Mutual funds” (including customers’ portfolios) and “Other placements”) as of March 31, 2025 amounted to €58,655 million, a 2.4% increase compared with the €57,253 million as of December 31, 2024, mainly as a result of the continuing search by customers for higher profitability investments, which continued to boost mutual funds, partially offset by the depreciation of the Mexican peso against the euro.

This operating segment’s non-performing loan ratio (as defined herein) decreased to 2.4% as of March 31, 2025 from 2.7% as of December 31, 2024 mainly due to lower net entries in non-performing loans and higher write-offs. As a result thereof, this operating segment’s non-performing loan coverage ratio (as defined herein) increased to 129% as of March 31, 2025 from 121% as of December 31, 2024.

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#### Turkey
This operating segment comprises the activities carried out by Garanti BBVA as an integrated financial services group operating in the banking, insurance and asset management business in Turkey, including corporate, commercial, SME,