Company: BBVXF
Filing Date: 2025-02-14
Form Type: 6-K
Source: 0001193125-25-027343
Chunk: 94

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-14
Form: 6-K
Chunk 94
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ancial years 2023 and 2022 is due to the fact that she was appointed by the General Meeting in 2022. Therefore, she did not hold offi ce throughout all of 2022 and did not sit on any Board Committee.—The difference in the remuneration of Raúl Galamba de Oliveira between fi nancial years 2022 and 2021 is due to his appointment as Lead Director in 2022.—The difference in the remuneration of Raúl Galamba de Oliveira, Ana Revenga Shanklin and Carlos Salazar Lomelín between fi nancial years 2021 and 2020 is due to their appointment by the General Meeting in 2020. Therefore, they did not hold offi ce throughout all of that year. • The “Consolidated results of the company” cell includes the profi t before tax shown in the consolidated annual fi nancial statements drawn up and audited for each fi nancial year. • The cell “Average employee remuneration” shows the average remuneration of BBVA Group employees, calculated as the ratio between the remuneration accrued by staff in each fi nancial year (excluding the remuneration of directors) and the weighted average number of employees (excluding the directors) calculated on a full-time equivalent basis. All employees who have been employees of the Company or any of its subsidiary companies (BBVA Group) at any time during each fi nancial year have been included in the calculation of this ratio. In 2024, the ratio between the remuneration of the Chair and the “Average remuneration of employees” of the Group at a consolidated level was 165, while that of the CEO was 153. The BBVA Group is an international fi nancial group with a broad geographical diversifi cation and a presence in many emerging countries, mainly Mexico and South America, where remuneration is adapted to the local cost of living and, therefore, it is lower than that received in Spain, which is the place where the directors of BBVA, S.A. perform their duties and carry out their functions. The comparison between the remuneration received by the directors of BBVA, S.A., which are the subject of this Report, and the average remuneration of the entire workforce, is therefore distorted if the fi gure considered is the average remuneration of all BBVA Group employees (at consolidated level), since these are not comparable fi gures due to the geographical diversifi