Company: BBVXF
Filing Date: 2025-07-31
Form Type: 6-K
Source: 0000842180-25-000030
Chunk: 46

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-07-31
Form: 6-K
Chunk 46
---
 attributable profit of the quarter stood at € 41 m, 30.5 % above the previous quarter at constant exchange rates, mainly as result of the dynamism of the net interest income and lower loan-loss provisions, partially offset by the NTI decrease.

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

| January - June 2025Report - p.51 |

Peru Macro and industry trends BBVA Research estimates that GDP will grow by 3.1% in 2025. This forecast is identical to the previous one and close to the 3.3 % growth recorded in 2024. Controlled inflation (1.7% in June and expected to be close to 2.0% thereafter) and low interest rates (likely to remain stable at the current level of 4.5%), as well as relatively high copper prices, among other factors, support growth expectations. Total lending in the Peruvian banking system continued the trend of recent quarters and increased 2.3% year-on-year in May 2025, with growth in all portfolios. Thus, the consumer credit portfolio grew by 1.1% year-on-year, the mortgage portfolio increased by 5.9% and the corporate loan portfolio by 1.6% year-on-year. The system's total deposits rose by 8.8% year-on-year in May, due to the strength of demand deposits (+12.9% year-on-year), which offset the lower growth in time deposits (+1.5% year-on-year). Lastly, the system's NPL ratio continued to fall to 3.60% in May 2025. Activity and results – Lending activity recorded a slight growth of 0.5% compared to the end of December 2024, focused on the retail segments, mainly mortgages and consumer loans, which offset the deleveraging in the wholesale segments. In the second quarter of 2025, lending growth stood at 1.8%, with growth in both the wholesale and retail portfolios. Regarding the quality indicators, the NPL ratio was lower than at the end of March 2025 (-35 basis points) placing at 4.3% as a result of the positive recovery performance and the write-offs made in the quarter. The coverage ratio was 92%, 111 basis points higher than at the end of March, helped by the reduction in doubtful assets. – Customers funds under management decreased by (-1.7