Asset Distribution and Exposure - As of December 31, 2025, the Group's assets were distributed as follows: Spain 53.1%, Mexico 21.2%, and Turkey 10.6%[49] - The Group is exposed to sovereign debt, particularly related to Spain, Mexico, and Turkey, which are critical to its financial stability[49] - The Group's total risk in financial assets in Spain, Mexico, and Turkey amounted to €252.3 billion, €163.1 billion, and €68.3 billion, respectively, as of December 31, 2025, representing 32.5%, 21.0%, and 8.8% of the Group's total risk in financial assets[58] - The Group's gross exposure to loans and advances to customers in Spain, Mexico, and Turkey totaled €261.5 billion, €100.7 billion, and €55.8 billion, respectively, as of December 31, 2025, accounting for 55.3%, 21.3%, and 11.8% of the total amount of loans and advances[58] - The Group's exposure to Spain's public debt portfolio was €58,760 million as of December 31, 2025, representing 6.8% of consolidated total assets[102] - The Group's exposure to Mexico's public debt portfolio was €31,025 million as of December 31, 2025, representing 3.6% of consolidated total assets[102] Financial Performance - Profit attributable to the parent company for the year ended December 31, 2025, was €10,511 million, up from €10,054 million in 2024 and €8,019 million in 2023[168] - In 2025, the profit from the Mexico segment was €5,264 million, accounting for 45% of the total profit attributable to the parent company[168] - The Turkey segment reported a profit of €805 million in 2025, representing 7% of the total profit attributable to the parent company[168] - The South America segment's profit for 2025 was €726 million, maintaining a consistent 6% share of the total profit attributable to the parent company[168] - The Corporate Center reported a loss of €1,086 million in 2025, compared to a loss of €901 million in 2024[168] Regulatory and Compliance Risks - The Group is subject to a complex regulatory framework that could adversely affect its business and financial condition[121] - The Group's regulatory authorities may require an increase in loan loss allowances and asset impairments, adversely affecting its financial condition[125] - Legal and regulatory changes related to ESG factors may result in increased compliance costs and operational risks for the Group and its customers[84] - The Group's compliance with anti-corruption laws and regulations is critical, as violations could result in significant penalties and reputational damage[140] - The Group faces heightened compliance risks in emerging economies due to political instability and corruption, which could adversely affect its operations[75] Economic and Market Risks - The global economic environment is volatile, with U.S. tariffs potentially impacting the Group's financial outlook and operations[50] - The Group's financial results are subject to risks from high interest rates and trade tariffs, which could impact credit demand and increase funding costs[27] - The geopolitical tensions and economic uncertainties in the regions where the Group operates could lead to significant financial and operational risks[52] - The Turkish economy has been classified as hyperinflationary since 2022, affecting the financial reporting of entities in that region[34] - The Group's ability to pay dividends is affected by restrictions on repatriation from subsidiaries in Venezuela, Argentina, and Turkey, which may impact its overall financial health[77] Technological and Competitive Landscape - The Group's ability to manage technological advancements and competition from neobanks is crucial for maintaining its market position[27] - The Group faces increasing competition from non-bank competitors and new business models, which could adversely affect its competitive position[68] - The Group's ability to adapt to technological changes and manage information technology obsolescence is crucial for its future success[71] - The number of digital and mobile phone customers continued to increase in 2025, with approximately 66% of new clients choosing digital channels to start their relationship with BBVA[148] Financial Metrics and Ratios - Total assets as of December 31, 2025, amounted to €894,931 million, up from €803,404 million in 2024, representing an increase of 11.4%[171] - Total liabilities as of December 31, 2025, were €847,034 million, compared to €756,163 million in 2024, indicating a growth of 12%[171] - Total equity as of December 31, 2025, was €47,897 million, slightly increasing from €47,242 million in 2024, reflecting a growth of 1.4%[171] - Loans and advances to customers reached €461,616 million as of December 31, 2025, up from €413,930 million in 2024, indicating a growth of 11.5%[171] - Total net interest income for December 2025 reached €26,280 million, an increase from €25,267 million in December 2024, representing a growth of 4%[170] Customer Deposits and Funding - As of December 31, 2025, customer deposits accounted for 76.3% of the Group's total financial liabilities at amortized cost[98] - Customer deposits at amortized cost in Spain grew by 11.1% to €251,430 million as of December 31, 2025, from €226,391 million in 2024[189] - Customer deposits at amortized cost in Mexico rose by 10.5% to €93,855 million as of December 31, 2025, compared to €84,949 million in 2024[197] - Customer deposits at amortized cost in Turkey increased by 8.4% to €62,984 million as of December 31, 2025, from €58,095 million in 2024[208] Non-Performing Loans and Coverage - The non-performing loan ratio in Spain decreased to 3.0% as of December 31, 2025, down from 3.7% in 2024[191] - The non-performing loan ratio rose to 3.9% as of December 31, 2025, up from 3.1% in 2024, attributed to a rise in non-performing retail loans due to deteriorating credit quality[210] - The non-performing loan coverage ratio decreased to 76% as of December 31, 2025, down from 96% in 2024, due to new Stage 3 entries and lower requirements from the wholesale portfolio[210]

4Q25 BBVA Group Corporate Presentation 4Q25 CORPORATE PRESENTATION 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 of the aforementioned companies, or to contract any financial product. Any decision to purchase or invest in securities or contract any financial product mus ...

BUENOS AIRES, Argentina--(BUSINESS WIRE)--Banco BBVA Argentina S.A. (NYSE; BYMA; MAE: BBAR; LATIBEX: XBBAR) today announced that it will report its Fourth Quarter and Fiscal Year 2025 results. Earnings Release Wednesday, March 4, 2026 Time: After market close Conference Call Thursday, March 5, 2026 Time: 12:00 p.m. Buenos Aires time – (10:00 a.m. EST) Quiet Period From Wednesday, February 18, through Wednesday, March 4, 2026 Executives Ms. Carmen Morillo Arroyo, Chief Financial Officer Mr. Dieg. ...

Core Viewpoint - BBVA's executive chairman Carlos Torres and CEO Onur Genc experienced a reduction in their total remuneration packages by approximately 3% and 2.5% respectively in 2025 compared to 2024, attributed to unmet short-term incentives rather than the failed takeover bid for Sabadell [1]. Summary by Relevant Categories Executive Remuneration - Carlos Torres' total remuneration decreased to 8.108 million euros in 2025, while Onur Genc's remuneration fell to 6.97 million euros [1]. - The decline in remuneration is not directly linked to the unsuccessful takeover bid but rather due to certain short-term performance incentives not being achieved [1]. Takeover Bid - BBVA's attempt to acquire Sabadell, valued at over 16 billion euros (approximately $19 billion), was unsuccessful [1]. - Despite the failed bid, BBVA's shares have increased by 22%, while Sabadell's shares have decreased by over 2% since the bid's collapse [1]. Strategic Goals - BBVA aims to achieve an accumulated net attributable profit of around 48 billion euros during the 2025-2028 period and plans to distribute 36 billion euros to shareholders over the same timeframe [1]. - The bank reported a record net profit of 10.51 billion euros for 2025 [1].

Market Overview - The broader equity markets experienced a recovery after a significant sell-off, particularly driven by technology stocks like NVIDIA and Broadcom [1] - Bitcoin rebounded after dropping to $60,062.00, indicating a shift in investor sentiment towards risk-off strategies [1][2] Financial Sector Insights - The finance sector faces latent threats from AI and disappointing retail sales data, contributing to market volatility [2] - Investors are adopting a "wait-and-see" approach, focusing on "cash cow" stocks that offer higher returns [2] Key Financial Metrics - Return on Equity (ROE) is highlighted as a crucial metric for assessing a company's profitability and financial health [3][4] - A high ROE indicates effective reinvestment of cash at high rates of return, distinguishing profit-generating companies from less efficient ones [3][4] Stock Screening Criteria - Stocks are screened based on parameters such as Cash Flow greater than $1 billion and ROE exceeding industry averages [5] - Additional criteria include Price/Cash Flow lower than industry averages and Return on Assets (ROA) greater than industry benchmarks [6] Selected Stocks - Alcoa Corporation (AA): Engaged in mining and electricity generation, with a trailing four-quarter earnings surprise of 44.5% and a Zacks Rank 1 [7][8] - Globe Life Inc. (GL): An insurance holding company with a Zacks Rank 2 and a focus on life and supplemental health insurance [9][10] - Banco Bilbao Vizcaya Argentaria, S.A. (BBVA): Provides banking and asset management services, with a long-term earnings growth expectation of 12% and a Zacks Rank 1 [10][11] - The TJX Companies, Inc. (TJX): A leading off-price retailer with a long-term earnings growth expectation of 10.2% and a Zacks Rank 2 [12][13] - TE Connectivity plc (TEL): A global technology company focused on connectivity solutions, with a long-term earnings growth expectation of 12% and a Zacks Rank 1 [14][15]

Group 1: Envista (NVST) - Envista is a global family of over 30 dental brands, including Nobel Biocare, Ormco, DEXIS, and Kerr [1] - The company has a Zacks Rank of 1 (Strong Buy) and its current year earnings estimate increased by 8.8% over the last 60 days [1] - Envista's shares gained 45.1% over the last three months, significantly outperforming the S&P 500's gain of 1.3% [2] - The company possesses a Momentum Score of A [2] Group 2: Banco Bilbao Viscaya Argentaria (BBVA) - Banco Bilbao Viscaya Argentaria is engaged in a variety of banking and financial activities in Spain [2] - The company has a Zacks Rank of 1 and its current year earnings estimate increased by 17.7% over the last 60 days [2] - BBVA's shares gained 14.2% over the last three months, also outperforming the S&P 500's gain of 1.3% [3] - The company possesses a Momentum Score of A [3] Group 3: Plexus (PLXS) - Plexus is a leading provider of electronic contract manufacturing services to OEMs across various industries, including Healthcare/Life Sciences, Industrial, and Aerospace/Defense [4] - The company has a Zacks Rank of 1 and its current year earnings estimate increased by 1.6% over the last 60 days [4] - Plexus' shares gained 41.2% over the last three months, outperforming the S&P 500's gain of 1.3% [5] - The company possesses a Momentum Score of A [5]

Core Viewpoint - Growth investors are attracted to stocks with above-average financial growth, but identifying such stocks can be challenging due to their inherent risks and volatility [1] Group 1: Growth Stock Identification - The Zacks Growth Style Score simplifies the process of finding promising growth stocks by analyzing a company's real growth prospects beyond traditional metrics [2] - Banco Bilbao (BBVA) is currently recommended due to its favorable Growth Score and top Zacks Rank [2] Group 2: Earnings Growth - Earnings growth is a critical factor for growth investors, with double-digit growth being particularly desirable as it indicates strong future prospects [4] - Banco Bilbao has a historical EPS growth rate of 33.3%, with projected EPS growth of 18.9% this year, surpassing the industry average of 13.5% [5] Group 3: Cash Flow Growth - High cash flow growth is essential for growth-oriented companies, allowing them to fund new projects without relying on external financing [6] - Banco Bilbao's year-over-year cash flow growth is 23%, significantly higher than the industry average of 6.5% [6] - The company's annualized cash flow growth rate over the past 3-5 years is 11.7%, compared to the industry average of 6% [7] Group 4: Earnings Estimate Revisions - Positive trends in earnings estimate revisions are correlated with stock price movements, making them an important consideration for investors [8] - The current-year earnings estimates for Banco Bilbao have increased by 17.7% over the past month [8] Group 5: Overall Positioning - Banco Bilbao has achieved a Zacks Rank of 2 and a Growth Score of B, positioning it well for potential outperformance in the market [10]

Financial Performance - BBVA Group achieved a net attributable profit of €10,511 million for 2025, representing a 4.5% increase compared to 2024[20] - BBVA Mexico reported a net attributable profit of €5,264 million, reflecting a year-on-year growth of 5.7%[30] - Turkey's net attributable profit reached €805 million, with a year-on-year growth of 31.8%[30] - The fourth quarter net attributable profit was €2,533 million, consistent with the previous quarter's performance[48] - Net interest income for 2025 was €26,280 million, up 4.0% year-on-year, with a 13.9% increase when excluding exchange rate variations[47] - Gross income reached €36,931 million, reflecting a 4.1% increase, and a 16.3% increase at constant exchange rates[63] - Operating income for 2025 was €22,599 million, marking a 6.2% increase year-on-year, with a 20.4% increase at constant exchange rates[47] - Net fees and commissions grew by 2.8% to €8,215 million, with a notable 14.6% increase at constant exchange rates[47] - The Corporate Center reported a net loss of €469 million in 2025, compared to a loss of €495 million in 2024, showing an improvement of 5.3%[193] Customer and Loan Growth - Loans and advances to customers increased by 11.6% in 2025, with business loans growing by 14.2% and loans to individuals increasing by 8.3%[25] - The number of active customers increased to 81.2 million, a growth of 5.6% compared to the previous year[11] - Customer funds grew by 13.5% during the year, driven by a 12.3% increase in customer deposits and a 17.2% rise in mutual funds and customer portfolios[26] - Loans and advances to customers grew by 11.6%, with business loans increasing by 14.2% and consumer loans by 14.0%[84] - Deposits from customers rose to €502,501 million in 2025, compared to €447,646 million in 2024, reflecting an increase of 12.2%[195] Efficiency and Ratios - The efficiency ratio improved to 38.8% as of December 31, 2025, a decrease of 206 basis points from the previous year[20] - Gross income increased by 16.3%, while operating expenses grew by 10.5%, resulting in an efficiency ratio of 38.8%, an improvement of 206 basis points year-on-year[66] - BBVA's CET1 ratio stood at 12.70% as of December 31, 2025, exceeding the Group's target management range of 11.5% - 12.0%[33] - The CET1 ratio stood at 12.70%, well above the requirement of 9.28%, despite a decrease of 72 basis points from the previous quarter[95] - The leverage ratio decreased to 6.15% as of December 31, 2025, a reduction of 57 basis points compared to September 2025[111] - The NPL ratio improved to 2.7%, a decrease of 6 basis points from the previous quarter and 33 basis points from December 2024, driven by loan growth and reduced non-performing loans in Spain[140] Capital and Funding - A cash gross distribution of €0.60 per share is expected to be proposed as a final dividend for 2025, totaling a cash distribution of €0.92 per share for the financial year[34] - BBVA's total own funds and eligible liabilities amounted to €59,277 million as of December 31, 2025, down from €64,342 million in September 2025[113] - The AT1 ratio was 1.38%, with a slight decrease of 1 basis point compared to the previous quarter[103] - The Tier 2 ratio increased to 3.13%, primarily due to a USD 700 million subordinated bond issuance[104] - The MREL (Minimum Requirement for own funds and Eligible Liabilities) ratio in RWA reached 28.89% as of December 31, 2025, compared to 31.31% in September 2025[113] Risk and Provisions - Provisions increased by 85.9% year-on-year, primarily driven by higher provisions in Turkey and Mexico[72] - The cumulative cost of risk as of December 31, 2025, was 1.39%, reflecting a 4 basis point improvement year-on-year and a 5 basis point increase from the previous quarter[147] - Credit risk increased by 6.0% in Q4 2025, with a year-on-year growth of 12.1%, indicating stronger performance compared to 2024[142] - Non-performing loans increased by 3.5% in Q4 2025, with a year-on-year stability compared to the previous year[147] - The NPL coverage ratio increased to 85% by December 2025, up 145 basis points from the previous quarter and 473 basis points from December 2024[147] Market and Economic Outlook - BBVA Research forecasts global growth of 3.2% for 2025, with the U.S. growth forecast raised to 2.0%[40] - The balance of risks for the global economy remains weighted to the downside, influenced by geopolitical tensions and protectionist measures[42] - The official monetary policy rate in Mexico was 7.0% at the end of December 2025, down from 10.0% at the end of 2024[177] - The Central Bank of the Republic of Turkey set the monetary policy rate at 38.0% at the end of December 2025, a decrease of 950 basis points from the previous year[181] - The benchmark interest rate in the euro area stood at 2.15% at the end of December 2025, following a total cut of 100 basis points throughout the year[177] Shareholder Actions - A share buyback program was executed with a total disbursement of €993 million, acquiring 54,316,765 shares, representing approximately 0.93% of BBVA's share capital[124][128] - The total distribution for the 2025 financial year is set at €0.92 per share, with a cash distribution of €0.60 per share expected to be paid in April 2026[120][122] - BBVA's share capital as of December 31, 2025, amounted to €2,797,394,663, divided into 5,708,968,700 shares[128] Ratings and Credit Metrics - The rating agencies upgraded BBVA's ratings, with S&P raising it from A to A+ and Moody's from A3 to A2, reflecting a positive outlook on the bank's financial profile[131] - BBVA's credit risk metrics included a total credit risk of €547,184 million as of December 31, 2025, up from €516,432 million in the previous quarter[144] - The total exposure for the leverage calculation was €909,048 million as of December 31, 2025, compared to €871,029 million in September 2025[112]

Financial Data and Key Metrics Changes - In 2025, the company achieved a record net attributable profit of EUR 10.5 billion, a 4.5% increase from the previous year [3] - The loan portfolio increased by 16.2% at constant euros and 11.7% in current euros, with a return on tangible equity of 19.3% [4] - Earnings per share reached EUR 1.78, representing a 5.8% year-over-year increase [7] - The CET1 ratio stood at 12.70% after accounting for a EUR 4 billion extraordinary share buyback program [26][27] Business Line Data and Key Metrics Changes - Spain's net profit grew to EUR 4.1 billion, with loans up 8% year-on-year [29] - Mexico's net profit reached EUR 1.4 billion, with loan book growth accelerating by 4% in the final quarter [33] - The Rest of Business segment delivered a net profit of EUR 627 million, driven by strong activity across geographies [37] Market Data and Key Metrics Changes - Loan growth in Spain accelerated to 8% year-over-year, while Mexico maintained a solid 7.5% growth [19] - The company gained market share in all its markets, with total market share in Mexico reaching 25.6% [32] - The NPL ratio in South America declined to 4%, with coverage increasing to above 90% [36] Company Strategy and Development Direction - The company is focused on a radical customer perspective, leveraging AI and innovation to enhance customer service [12] - Strategic priorities include growth in enterprise, sustainability, and capital-light businesses, which have shown superior growth in 2025 [15] - The company aims to achieve a group return on tangible equity goal of around 20% and a cost-to-income ratio below 40% [40] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in maintaining strong business momentum and solid loan growth across all markets [39] - The company anticipates continued cost discipline and alignment with midterm strategic goals [40] - Management highlighted the importance of customer service and digital experience in retaining younger customers in competitive markets like Mexico [70] Other Important Information - The company announced a total regular distribution of EUR 5.2 billion for 2025, equivalent to a 50% payout [27] - The extraordinary share buyback program of EUR 4 billion is ongoing, with the first tranche of EUR 1.5 billion already executed [28] Q&A Session Summary Question: Spain's loan growth and NII guidance - Management explained that the difference in loan growth and NII guidance is due to expectations of flat Euribor rates and slight declines in average spreads [45] Question: Competition in Mexico's deposit market - Management reassured that their deposit pricing remains competitive, with a significant gap compared to industry averages, and emphasized their strong market share in transactional deposits [46][48] Question: Customer spread dynamics in Spain - Management noted that the repricing of the mortgage loan portfolio is faster than peers, and they expect stable customer spreads in the first half of the year [58] Question: Capital generation and strategic goals - Management confirmed that they are on track to meet their strategic goals, emphasizing the importance of profitable growth even in capital-intensive areas [61][62]

Financial Data and Key Metrics Changes - In 2025, the company achieved a record net attributable profit of EUR 10.5 billion, a 4.5% increase from the previous year [3] - The loan portfolio increased by 16.2% at constant euros and 11.7% in current euros, with a return on tangible equity of 19.3% [4][7] - Earnings per share reached EUR 1.78, representing a 5.8% year-over-year increase [7] - The cost-to-income ratio improved to 38.8%, indicating strong efficiency [21] Business Line Data and Key Metrics Changes - In Spain, net profit grew to EUR 4.1 billion, with loans up 8% year-on-year [29] - In Mexico, net profit reached EUR 1.4 billion, with loan book growth accelerating by 4% in the final quarter [33] - The Rest of Business segment delivered a net profit of EUR 627 million, driven by strong activity across geographies [37] Market Data and Key Metrics Changes - Loan growth in Spain accelerated to 8% year-over-year, while Mexico maintained a solid 7.5% growth [19] - The company gained market share in all its markets, with total market share in Mexico reaching 25.6% [32][20] - The NPL ratio improved year-over-year and quarter-over-quarter, indicating better asset quality [22] Company Strategy and Development Direction - The company is focused on a radical customer perspective, leveraging AI and innovation to enhance customer service [12][13] - Strategic priorities include growth in enterprise, sustainability, and capital-light businesses, which have shown superior growth in 2025 [15] - The company aims to achieve a group return on tangible equity goal of around 20% and a cost-to-income ratio below 40% [40] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in maintaining strong business momentum and solid loan growth across all markets [39] - The company anticipates continued positive trends in asset quality and profitability, despite challenges in the macro environment [32][35] - Future guidance includes expectations for stable cost-to-income ratios and disciplined cost management [70] Other Important Information - The company announced a total regular distribution of EUR 5.2 billion for 2025, equivalent to a 50% payout [27] - The extraordinary share buyback program of EUR 4 billion is ongoing, with the first tranche of EUR 1.5 billion already executed [28] Q&A Session Summary Question: Spain's loan growth and NII guidance - The company expects flat Euribor rates, leading to a different guidance between loan growth and NII [45] Question: Competition in Mexico's deposits - The company maintains a positive gap in deposit costs compared to competitors and is comfortable with its deposit positioning [46][48] Question: Customer spread dynamics in Spain - The company expects stable customer spreads in the first half of the year, with potential slight increases later [58] Question: Capital generation and strategic goals - The company remains on track to achieve its strategic goals, including EUR 48 billion in profits and EUR 36 billion in capital distributions [61] Question: Cost growth expectations - The company anticipates costs to grow above inflation due to ongoing investments and one-off effects [68] Question: Young and underbanked population in Mexico - The company believes that service quality is paramount, and it has a strong digital experience to attract younger customers [70][72]