Company: BBVXF
Filing Date: 2025-09-05
Form Type: F-4/A
Source: 0001193125-25-196513
Chunk: 797

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-05
Form: F-4/A
Chunk 797
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 |   247,575 |     |       |  1,713,858 |
| Liabilities denominated in foreign currency: |     |     |  7,606,360 |     |      | 53,111,696 |     |                  | 2,476,766 |     |       | 63,194,822 |
| Deposits                                     |     |     |  7,405,911 |     |      | 49,911,932 |     |                  | 2,410,628 |     |       | 59,728,471 |
| Central banks and Credit institutions        |     |     |  1,559,034 |     |      |  6,757,419 |     |                  |   292,431 |     |       |  8,608,884 |
| Customers                                    |     |     |  5,846,877 |     |      | 43,154,513 |     |                  | 2,118,197 |     |       | 51,119,587 |
| Other liabilities                            |     |     |    200,449 |     |      |  3,199,764 |     |                  |    66,138 |     |       |  3,466,351 |

The net position of foreign currency assets and liabilities includes the structural position of the Institution, valued as at 31 December 2022, which amounted to 3,021 million euros, of which 1,877 million euros corresponded to permanent equity holdings in pounds sterling, 808 million euros corresponded to permanent equity holdings in US dollars and 288 million euros to permanent equity holdings in Mexican pesos. Net assets and liabilities valued at historical exchange rates are hedged with currency forwards and currency options in line with the Group’s risk management policy. As at 31 December 2022, the sensitivity of the equity exposure to a 1.3% exchange rate depreciation against the euro of the main currencies to which exposure exists, calculated based on quarterly exchange rate volatility over the past three years, would amount to 39 million euros, of which 62% would correspond to the pound sterling, 27% to the US dollar and 10% to the Mexican peso. A-653

4.4.4. Operational risk Operational risk is defined as the risk of incurring losses due to inadequacies or failures of processes, staff or internal systems or due to external