Company: BBVXF
Filing Date: 2025-08-12
Form Type: DRS
Source: 0000950123-25-007520
Chunk: 894

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-08-12
Form: DRS
Chunk 894
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 the impact of the increase in the discount rate, so that, overall, interest rate hikes had a positive impact on the recoverable amount. Additionally, the Group has carried out a sensitivity test, making reasonable adjustments to the main assumptions used to calculate the recoverable amount. This test consisted of adjusting, individually, the following assumptions:

| – | Discount rate +/- 0.5%. |

| – | Growth rate in perpetuity +/- 0.5%. |

| – | Minimum capital requirement +/-0.5%. |

| – | NIM/ATAs in perpetuity +/- 5bps. |

| – | Cost of risk in perpetuity +/- 10bps. |

The sensitivity test does not alter the conclusions drawn from the impairment test. In all scenarios defined in that analysis, the recoverable amount obtained is greater than the carrying amount. In accordance with the specifications of the restated text of the Corporation Tax Law, the goodwill generated is not tax-deductible. Other intangible assets Miami Private Banking business Intangible assets associated with the acquisition in 2008 of the Private Banking business in Miami include the value of contractual rights arising from customer relationships taken over from this business, mainly short-term lending and deposits. These assets are amortised over a period of between 10 and 15 years from their creation. Contractual relations with TSB customers and brand The intangible assets associated with the acquisition of TSB include the value of the contractual rights arising from relationships with customers taken over from TSB for demand deposits (core deposits), the initial estimate of which amounted to 353,620 thousand euros. This asset is amortised over 8 years. The valuation of these intangible assets was carried out by calculating the value in use based on the income approach (discounted cash flows) with the multi-period excess earnings technique. To determine whether there is any evidence of impairment, the balance of deposits currently in TSB linked to existing customers at the time of its acquisition by the Bank has been compared against the estimated balance that such customers would have at the end of 2022, forecast at the time of the initial valuation. Based on this comparison, a conclusion can be drawn that there is no evidence of any impairment. The carrying amount of contractual relationships with TSB customers amounted to 17,727 thousand euros as at 31 December 2022 (56,135 thousand euros as at 31 December 2021). The value of the exclusive right of use of the TSB brand was also estimated at an initial amount of 73