Company: BBVXF
Filing Date: 2025-09-09
Form Type: 424B3
Source: 0001193125-25-198517
Chunk: 669

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-09
Form: 424B3
Chunk 669
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resaid estimates, fundamentally in relation to the calculation of impairment losses on financial assets. Although the estimates are based on the information available regarding current and foreseeable circumstances, final results could differ from these estimates. 1.3 Accounting principles and policies and measurement criteria The accounting principles and policies, as well as the most significant measurement criteria applied in preparing these consolidated annual financial statements, are described below. There have been no cases in which accounting principles or measurement criteria have not been applied because of a material effect on the Group’s consolidated annual financial statements for 2022. A-563

1.3.1 Consolidation principles In the consolidation process, a distinction is drawn between subsidiaries, joint ventures, associates and structured entities. Subsidiaries Subsidiaries are entities over which the Group has control. This occurs when the Group is exposed, or is entitled, to variable returns as a result of its involvement in the investee and when it has the ability to influence those returns through its power over the investee. For control to exist, the following criteria must be met:

| – | Power: an investor has power over an investee when that investor holds rights which provide them with the ability to 
 lead significant activities, i.e. those that significantly affect the investee’s returns.                            |

| – | Returns: an investor is exposed, or is entitled, to variable returns due to their involvement in the investee when                                                                               
 the returns obtained from such involvement may vary depending on the investee’s economic performance. The investor’s returns may be only positive, only negative, or both positive and negative. |

| – | Relationship between power and returns: an investor controls an investee if the investor not only has power over the                                                                                                              
 investee and is exposed, or is entitled, to variable returns due to their involvement with the investee, but also has the ability to use that power to influence the returns obtained due to their involvement with the investee. |

When the Group takes control of a subsidiary, it applies the acquisition method provided for in the regulations governing business combinations (see Note 1.3.2) except in the case of acquisitions of an asset or a group of assets. The financial statements of subsidiaries are consolidated with the Bank’s financial statements using the full consolidation method. The third-party ownership of the Group’s consolidated equity is shown in the heading “Non-controllinginterests” of the consolidated balance sheet and the part of the profit or loss for the year attributable to these interests is presented under the heading “