Company: BBVXF
Filing Date: 2025-09-09
Form Type: 424B3
Source: 0001193125-25-198517
Chunk: 593

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-09
Form: 424B3
Chunk 593
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 and similar credit in fixed-income securities by transferring assets to various securitisation funds created for this purpose. Under current regulations, securitisations in which there is no significant risk transfer cannot be derecognised from the balance sheet. The balance of the financial assets securitised under these programmes by the Group, as well as other financial assets transferred, depending on whether they have been derecognised or retained in full on the consolidated balance sheet, as at 31 December 2023 and 2022, is as follows:

| Thousand euro                              |     |      |           |     |      |           |
|                                            |     | 2023 |           |     | 2022 |           |
| Fully derecognised from the balance sheet: |     |      |   568,975 |     |      |   693,853 |
| Securitised mortgage assets                |     |      |   111,624 |     |      |   116,868 |
| Other securitised assets                   |     |      |   228,671 |     |      |   319,468 |
| Other financial assets transferred         |     |      |   228,680 |     |      |   257,517 |
| Fully retained on the balance sheet:       |     |      | 7,446,823 |     |      | 7,753,225 |
| Securitised mortgage assets                |     |      | 6,394,928 |     |      | 7,087,569 |
| Other securitised assets                   |     |      | 1,051,894 |     |      |   665,656 |
| Total                                      |     |      | 8,015,798 |     |      | 8,447,078 |

The assets and liabilities associated with securitisation funds of assets originated after 1 January 2004, and for which inherent risks and rewards of ownership have not been transferred to third parties, have been retained on the consolidated balance sheet. As at 31 December 2023 and 2022, there was no significant financial aid from the Group for unconsolidated securitisations. Schedule II to these consolidated annual financial statements includes certain information regarding the securitisation funds originated by the Group. A-408

4.4.3. Financial risks Financial risk is defined as the possibility of obtaining inadequate returns or having insufficient