Banco Bilbao Vizcaya Argentaria, S.a. · BME:BBVA

Banco Bilbao Vizcaya Argentaria — Q3 2025 Earnings Presentation

51 slides from Banco Bilbao Vizcaya Argentaria's earnings presentation, Oct 30, 2025

  1. Slide 1: 3Q25 Earnings

    3Q25 Earnings October 30, 2025

  2. Slide 2: Disclaimer

    3Q25 EARNINGS Disclaimer This document is only provided for information purposes and is not intended to provide financial advice and, therefore, does not constitute, nor should it be interpreted as, an offer to sell, exchange or acquire, or an invitation for offers to acquire securities issued by any

  3. Slide 3: Excellent Value Creation and Profitability

    3Q25 EARNINGS Excellent Value Creation and Profitability TBV + DIVIDENDS PROFITABILITY METRICS (€ / SHARE ) 1 (%) +17.0% ROTE +4.5 % 20.1 19.7 19.7 9.84 10.28 8.79 0.732 0.412 ROE 9.43 9.55 19.2 18.9 18.8 Sep-24 Jun-25 Sep-25 9M24 2024 9M25 TBV / share Dividends / share p. 3 (1) Total number of share

  4. Slide 4: Solid Profit and Capital Generation in the Context of Lower Rate Environment

    3Q25 EARNINGS Solid Profit and Capital Generation in the Context of Lower Rate Environment NET ATTRIBUTABLE PROFIT CET1 RATIO (CURRENT €M) (%) -3.7% +8bps -8.0 % 13.42% 13.34% 2,627 2,749 2,531 Target Range 11.5%-12.0% SREP Requirement 9.13% 3Q24 2Q25 3Q25 EPS (€)1 0.44 0.46 0.42 Jun-25 Sep-25 p. 4 N

  5. Slide 5: Outstanding Profitable Growth

    3Q25 EARNINGS Outstanding Profitable Growth NET ATTRIBUTABLE PROFIT PROFITABILITY (CURRENT €M) (ROTE, %) +4.7% 19.7% 19.7% 7,978 7,622 17.0% 5,961 14.7% 4,842 14.3% European 12.9% Peers 1 12.7% 9.9% 6M25 9M25 9M22 9M23 9M24 9M25 2022 2023 2024 2025 Note: 9M24 includes annual Spanish banking tax of -2

  6. Slide 6: 3Q25 Key Messages

    3Q25 EARNINGS 3Q25 Key Messages 1 Strong activity drives Net NET INTEREST INCOME TOTAL LOAN GROWTH1 Interest Income growth +18.3% vs. 3Q24 +16.0% vs. Sep 2024 CONSTANT CONSTANT 2 Excellent fee income NET FEES AND COMMISSIONS evolution +15.3% vs. 3Q24 CONSTANT 3 Positive jaws and leading EFFICIENCY R

  7. Slide 7: 3Q25 Profit & Loss

    3Q25 EARNINGS 3Q25 Profit & Loss Change Change 3Q25/3Q24 3Q25/2Q25 % % BBVA GROUP (€M) 3Q25 const. % const. % Net Interest Income 6,640 18.3 13.2 7.1 6.9 Net Fees and Commissions 2,060 15.3 7.8 5.8 5.6 Net Trading Income 531 -46.1 -49.2 8.6 9.7 Other Income & Expenses -128 5.4 19.7 n.s. n.s. Gross In

  8. Slide 8: 9M25 Profit & Loss

    3Q25 EARNINGS 9M25 Profit & Loss Change 9M25/9M24 % BBVA GROUP (€M) 9M25 const. % Net Interest Income 19,246 12.6 2.0 Net Fees and Commissions 6,071 16.6 5.5 Net Trading Income 1,962 -25.6 -33.0 Other Income & Expenses -143 -91.0 -89.7 Gross Income 27,136 16.2 3.7 Operating Expenses -10,360 11.0 1.7

  9. Slide 9: Remarkable Growth Trend in Revenues

    3Q25 EARNINGS Remarkable Growth Trend in Revenues NET INTEREST INCOME (CONSTANT €M) NET FEES AND COMMISSIONS (CONSTANT €M) +18.3% +15.3% +7.1% NII growth driven by +5.8% Positive fee income strong activity and trend levered on effective rates lock-in payments and asset strategies management NET TRAD

  10. Slide 10: Loan Growth Strength Continues as Guided, Driving Core Revenues Increase

    3Q25 EARNINGS Loan Growth Strength Continues as Guided, Driving Core Revenues Increase TOTAL LOAN GROWTH (YOY, CONSTANT €) TOTAL LOAN GROWTH CORE REVENUES BBVA Group (YOY, CONSTANT €) (CONSTANT €M) 2025 Guidance: +3.6% Spain above mid single digit growth +1.4% 16.0% 14.3% +7.8% +1.5% 9.9% Sep-24 Sep

  11. Slide 11: Interest Rates are Around their Terminal Level

    3Q25 EARNINGS Interest Rates are Around their Terminal Level Leading to Relative Spread Stability Going Forward INTEREST RATES AND CUSTOMER SPREAD EVOLUTION (%) OFFICIAL INTEREST RATES BBVA CUSTOMER SPREADS (%) (%) 4.0 Expected Terminal Rate c.2% 3.42 2.88 Spain ECB Deposit facility rate 2.0 Euribor

  12. Slide 12: Positive Jaws and Leading Efficiency Ratio

    3Q25 EARNINGS Positive Jaws and Leading Efficiency Ratio POSITIVE JAWS EFFICIENCY RATIO (9M25 YOY, CONSTANT €) (COST-TO-INCOME, % CONSTANT €) FOOTPRINT -178bps INFLATION1 11.4 % 12M AVERAGE % 40.0 +16.2 38.2 +11.0% Gross Operating 9M24 9M25 Income Expenses p. 12 (1) Weighted by operating expenses and

  13. Slide 13: Sound Asset Quality Metrics, Better than Expectations

    3Q25 EARNINGS Sound Asset Quality Metrics, Better than Expectations FINANCIAL ASSETS IMPAIRMENTS NPL (CONSTANT €M) (CURRENT €BN) 1,601 15.3 14.8 14.6 14.3 1,368 1,391 1,306 1,421 14.3 3Q24 4Q24 1Q25 2Q25 3Q25 Sep-24 Dec-24 Mar-25 Jun-25 Sep-25 COST OF RISK NPL & COVERAGE RATIOS (%, YTD) (%) 80% 82%

  14. Slide 14: Our Solid Capital Position Underpins Shareholder's Remuneration

    3Q25 EARNINGS Our Solid Capital Position Underpins Shareholder’s Remuneration CET1 RATIO Starting tomorrow (%, BPS) a share buyback of +65 bps -35 bps +8bps ADDITIONAL POSITIVE REGULATORY IMPACTS c.+40-50bps in 4Q25 c. 1 billion € -37 bps 13.34% +15 bps 13.42% Record interim dividend (Payable on Nov

  15. Slide 15: Record Customer Acquisition Driven by Digital

    3Q25 EARNINGS Record Customer Acquisition Driven by Digital NEW CUSTOMERS1 (BBVA GROUP, MILLION; % ACQUISITION THROUGH DIGITAL CHANNELS) 8.6 8.3 8.5 8.7 6.5 5.3 Digital 66% TOTAL Digital 33% Active Clients2 57.4 M 80.1 M p. 15 (1) Gross customer acquisition through own channels for retail segment. E

  16. Slide 16: Sustainability as a Business Opportunity and a Growth Driver

    3Q25 EARNINGS Sustainability as a Business Opportunity and a Growth Driver SUSTAINABLE FINANCE BY CUSTOMER SEGMENT SUSTAINABLE BUSINESS (€ BN) (CHANNELING, € BILLION) 97 YoY 11.1 Sustainable 66 +48% business target 5.5 36.2 Retail +102% 2025-29 €700Bn 23.7 Enterprises +52% 49.7 CIB +36% 36.5 9M24 9M

  17. Slide 17: Group Financial KPIs Goals Evolution

    3Q25 EARNINGS Group Financial KPIs Goals Evolution Aligned with plan ROTE TBV + DIV PER SH C/I RATIO NET ATTRIBUTABLE (%, CURRENT €) (%, CURRENT €) (%, CURRENT €) PROFIT (CURRENT €Bn) GOAL GOAL 40.0% GOAL c.22% Mid-teens c.€48 Bn Avg. 2025-2028 CAGR 2024-2028 38.2% Cumulative 2025-2028 9M25 9M25 9M2

  18. Slide 18: Business Areas

    Business Areas SPAIN MEXICO TURKEY SOUTH AMERICA REST OF BUSINESS

  19. Slide 19: Spain

    3Q25 EARNINGS BUSINESS AREAS Spain PROFIT & LOSS (€M) Δ (%) Δ (%) ACTIVITY (€BN, SEP-25) 3Q25 vs. 3Q24 vs. 2Q25 9M25 vs. 9M24 LENDING1 CUST.FUNDS1 Net Interest Income 1,675 4.0 3.2 4,905 2.3 Net Fees and Commissions 566 2.2 -3.5 1,743 4.2 YoY YoY Net Trading Income 136 -40.0 -11.2 536 -11.2 +6.7% +7

  20. Slide 20: Mexico

    3Q25 EARNINGS BUSINESS AREAS Mexico PROFIT & LOSS Δ Constant (%) Δ Current Δ Constant ACTIVITY (SEP-25; CONSTANT €BN) (%) (%) (CONSTANT €M) 3Q25 vs. 3Q24 vs. 2Q25 9M25 vs. 9M24 vs. 9M24 LENDING1 CUST.FUNDS1 Net Interest Income 2,878 7.2 3.3 8,393 -4.2 8.3 Net Fees and Commissions 585 5.3 2.6 1,730 -

  21. Slide 21: Turkey

    3Q25 EARNINGS BUSINESS AREAS Turkey PROFIT & LOSS Δ Current (%) Δ Current (%) ACTIVITY (SEP-25; CONSTANT €BN; BANK ONLY) (CURRENT €M) 3Q25 vs. 3Q24 vs. 2Q25 9M25 vs. 9M24 Net Interest Income 831 159.4 37.2 2,137 131.0 LENDING2 CUST.FUNDS2 Net Fees and Commissions 544 9.0 7.1 1,602 14.1 Net Trading I

  22. Slide 22: South America

    3Q25 EARNINGS BUSINESS AREAS South America NET ATTRIBUTABLE PROFIT ACTIVITY (SEP-25; CONSTANT €BN) (CURRENT €M) Δ Current (%) Δ Current (%) LENDING1 CUST.FUNDS1 YoY 3Q25 vs. 3Q24 vs. 2Q25 9M25 vs. 9M24 YoY +15.7% +15.6% Colombia 48 40.5 20.6 122 33.6 Colombia +3.3% Peru 71 12.3 -2.1 227 31.0 Colombi

  23. Slide 23: Rest of business

    3Q25 EARNINGS BUSINESS AREAS Rest of business PROFIT & LOSS Δ (%) Δ (%) ACTIVITY (SEP-25; CONSTANT €BN) (CONSTANT €M) 3Q25 vs. 3Q24 vs. 2Q25 9M25 vs. 9M24 Net Interest Income 221 17.4 16.7 596 15.7 LENDING1 CUST.FUNDS1 Net Fees and Commissions 152 48.0 6.2 428 53.9 YoY Net Trading Income 93 11.0 24.

  24. Slide 24: Takeaways

    3Q25 EARNINGS Takeaways Outstanding shareholder value Another solid quarter in profit and creation and profitability metrics capital generation Strong core revenues evolution on the Industry leading efficiency levels back of activity growth, fully absorbing with clear focus on costs the declining rates

  25. Slide 25: Annex

    Annex 1 P&L Accounts by Business Area 6 RWAs by Business Area 2 Customer Spread by Country 7 Book Value of the Main Subsidiaries 3 Stages Breakdown by Business Area 8 MREL 4 ALCO Portfolio, NII Sensitivity and LCRs & NSFRs 9 Digital Metrics 5 CET1 Sensitivity to Market Impacts

  26. Slide 26: P&L Accounts by Business Area

    1 P&L Accounts by Business Area Corporate Center Turkey Argentina Colombia Peru (hyperinflation adjustment) (hyperinflation adjustment)

  27. Slide 27: Corporate Center

    3Q25 EARNINGS ANNEX - P&L ACCOUNTS BY BUSINESS AREA Corporate Center Δ (%) Δ (%) PROFIT & LOSS (€M) 3Q25 vs. 3Q24 vs. 2Q25 9M25 vs. 9M24 Net Interest Income -124 -16.1 23.1 -323 0.5 Net Fees and Commissions -25 19.2 -31.0 -87 44.4 Net Trading Income -101 n.s. -31.0 -186 n.s. Other Income & Expenses

  28. Slide 28: Turkey - Hyperinflation Adjustment

    3Q25 EARNINGS ANNEX - P&L ACCOUNTS BY BUSINESS AREA Turkey - Hyperinflation Adjustment 9M25 Hyperinflation 9M25 PROFIT & LOSS (€M) (reported) (1) adjustment (2) Ex.Hyperinflation Net Interest Income 2,137 -59 2,196 Net Fees and Commissions 1,602 -39 1,641 Net Trading Income 340 85 255 Other Income & Ex

  29. Slide 29: Argentina - Hyperinflation Adjustment

    3Q25 EARNINGS ANNEX - P&L ACCOUNTS BY BUSINESS AREA Argentina - Hyperinflation Adjustment 9M25 Hyperinflation 9M25 PROFIT & LOSS (€M) (reported) (1) adjustment (2) Ex.Hyperinflation Net Interest Income 1,163 -110 1,273 Net Fees and Commissions 236 -24 260 Net Trading Income 178 6 172 Other Income & Exp

  30. Slide 30: Colombia

    3Q25 EARNINGS ANNEX - P&L ACCOUNTS BY BUSINESS AREA Colombia Δ (%) Δ (%) PROFIT & LOSS (€M CONSTANT) 3Q25 vs. 3Q24 vs. 2Q25 9M25 vs. 9M24 Net Interest Income 254 10.8 3.7 724 5.1 Net Fees and Commissions 32 21.1 22.8 83 -0.6 Net Trading Income 25 -28.4 69.5 66 -17.2 Other Income & Expenses -14 n.s.

  31. Slide 31: Peru

    3Q25 EARNINGS ANNEX - P&L ACCOUNTS BY BUSINESS AREA Peru Δ (%) Δ (%) PROFIT & LOSS (€M CONSTANT) 3Q25 vs. 3Q24 vs. 2Q25 9M25 vs. 9M24 Net Interest Income 378 9.1 5.1 1,093 3.5 Net Fees and Commissions 94 29.5 27.0 247 6.2 Net Trading Income 56 13.4 1.5 160 -2.3 Other Income & Expenses -16 49.3 177.8

  32. Slide 32: Customer Spread by Country

    2 Customer Spread by Country

  33. Slide 33: Customer Spreads: Quarterly Evolution

    3Q25 EARNINGS ANNEX - CUSTOMER SPREAD BY COUNTRY Customer Spreads: AVERAGE 3Q24 4Q24 1Q25 2Q25 3Q25 Spain 3.39% 3.30% 3.19% 3.05% 2.88% Yield on Loans 4.25% 4.13% 3.85% 3.66% 3.45% Quarterly Cost of Deposits Mexico MXN -0.86% 12.48% -0.83% 12.33% -0.66% 12.00% -0.60% 11.96% -0.57% 11.98% Evolution Y

  34. Slide 34: Customer Spreads: YtD Evolution

    3Q25 EARNINGS ANNEX - CUSTOMER SPREAD BY COUNTRY Customer Spreads: AVERAGE 9M24 9M25 Spain 3.42% 3.04% Yield on Loans 4.30% 3.65% YtD Cost of Deposits Mexico MXN -0.88% 12.45% -0.61% 11.98% Evolution Yield on Loans Cost of Deposits Mexico FC1 15.52% -3.07% 6.34% 14.70% -2.72% 5.31% Yield on Loans 7.

  35. Slide 35: Stages Breakdown by Business Area

    3 Stages Breakdown by Business Area

  36. Slide 36: Stages Breakdown by Business Areas

    3Q25 EARNINGS ANNEX - STAGES BREAKDOWN BY BUSINESS AREA Stages Breakdown by Business Areas CREDIT RISK BREAKDOWN BY AREA (SEP-25, € M) Gross Accumulated Gross Accumulated Gross Accumulated BBVA GROUP Exposure impairments SPAIN Exposure impairments MEXICO Exposure impairments Stage 1 470,097 2,450 St

  37. Slide 37: ALCO Portfolio, NII Sensitivity and LCRs & NSFRs

    4 ALCO Portfolio, NII Sensitivity and LCRs & NSFRs

  38. Slide 38: ALCO Portfolio

    3Q25 EARNINGS ANNEX - ALCO PORTFOLIO, NII SENSITIVITY AND LCRS & NSFRS ALCO Portfolio ALCO PORTFOLIO BREAKDOWN BY REGION EURO ALCO PORTFOLIO (€ BN) MATURITY PROFILE (€ BN) Amort Cost Fair Value (HTC) (HTC&S) (duration SEP-25 (€ BN) (€ BN) incl. hedges) South 0.7 5.7 1.5 years America Turkey 5.5 2.9

  39. Slide 39: NII Sensitivity to Interest Rates Movements

    3Q25 EARNINGS ANNEX - ALCO PORTFOLIO, NII SENSITIVITY AND LCRS & NSFRS NII Sensitivity to Interest Rates Movements ESTIMATED IMPACT ON NII IN THE NEXT 12 MONTHS TO PARALLEL INTEREST RATE MOVEMENTS (TO +/-100 BPS INTEREST RATES MOVEMENT, %) EURO BALANCE MEXICO SHEET +/-c. 4% +/- 2.5% Note: NII sensit

  40. Slide 40: Liquidity and Funding Ratios

    3Q25 EARNINGS ANNEX - ALCO PORTFOLIO, NII SENSITIVITY AND LCRS & NSFRS Liquidity and Funding Ratios BBVA GROUP AND SUBSIDIARIES LCR & NSFR (SEP-25) LCR NSFR Total Group 174% / 148% 1 128% Loan To Both LCR and NSFR Deposit significantly above the BBVA, S.A. 169% 119% 89% 100% requirements, at a Group

  41. Slide 41: CET1 Sensitivity to Market Impacts

    5 CET1 Sensitivity to Market Impacts

  42. Slide 42: CET1 Sensitivity to Market Impacts

    3Q25 EARNINGS ANNEX - CET1 SENSITIVITY TO MARKET IMPACTS CET1 Sensitivity to Market Impacts1 TO A 10% CURRENCY DEPRECIATION2 TO A 10% DECLINE IN (SEP-25) TELEFONICA’S SHARE PRICE (SEP-25) 2 bps MXN TRY USD ー 9 bps ー 3 bps +14 bps ー TO +100 BPS MOVEMENT IN TO +100 BPS MOVEMENT IN THE THE SPANISH SOVE

  43. Slide 43: RWAs by Business Area

    6 RWAs by Business Area

  44. Slide 44: Risk-Weighted Assets by Business Area

    3Q25 EARNINGS ANNEX - RWAS BY BUSINESS AREA Risk-Weighted Assets by Business Area Fully-Loaded RWAs BREAKDOWN BY BUSINESS AREA (€M) Jun-25 Sep-25 Spain 120,209 122,022 Mexico 88,043 91,560 Turkey 66,645 69,983 South America 52,707 53,465 Argentina 11,352 11,068 Chile 2,022 2,029 Colombia 17,428 18,0

  45. Slide 45: Book Value of the Main Subsidiaries

    7 Book Value of the Main Subsidiaries

  46. Slide 46: Book Value of the Main Subsidiaries

    3Q25 EARNINGS ANNEX - BOOK VALUE OF THE MAIN SUBSIDIARIES Book Value of the Main Subsidiaries1,2 (€ BN; SEP-25) Δ (%) QoQ Mexico +10.2% Turkey +3.7% Colombia +6.9% Peru +6.3% Argentina -9.8% Uruguay +5.1% Chile +3.1% Venezuela -2.3% (1) Includes the initial investment + BBVA’s undistributed results

  47. Slide 47: MREL

    8 MREL

  48. Slide 48: Sound MREL Position

    3Q25 EARNINGS ANNEX - MREL Sound MREL Position POSITION AS OF SEP-25 (% RWA1) MREL REQUIREMENT + CBR SUBORDINATION REQUIREMENT + CBR 31.31% 26.61% 26.79% 3.66% 17.16% CBR3 3.66% CBR3 23.13% MREL Subordination 13.50% Total Requirement Eligible instruments 2 Total Requirement Eligible instruments 2 M-

  49. Slide 49: Digital Metrics

    oO Digital Metrics

  50. Slide 50: Digital Metrics: Mobile Customers & Digital Sales

    3Q25 EARNINGS ANNEX - DIGITAL METRICS Digital Metrics: Mobile Customers & Digital Sales MOBILE CUSTOMERS DIGITAL SALES (MILLION CUSTOMERS, %) (% OF TOTAL SALES YTD) Units (# of transactions) PRV2 CUSTOMER PENETRATION RATE1 68.2% 71.4% 76.9% p. 50 (1) Mobile over total active clients. (2) Product Rel

  51. Slide 51: BBVA

    BBVA

Banco Bilbao Vizcaya Argentaria — Q3 2025 Earnings Presentation on 6ix