Company: BBVXF
Filing Date: 2025-02-27
Form Type: F-4/A
Source: 0001193125-25-037317
Chunk: 221

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-27
Form: F-4/A
Chunk 221
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 not only has power over the                                                                                           
 investee and exposure or rights to variable returns from its involvement with the investee, but also has the ability to use its power to affect the investor’s returns from its 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 under the heading “Minority interests [non-controllinginterests]” of the consolidated balance sheet and the portion of the profit or loss for the year attributable to those interests is disclosed under the heading “Profit or (-) loss for the year—Attributable to minority interest [non-controllinginterests]” in the consolidated income statement. As at 31 December 2024, there were no Group companies qualifying as subsidiary undertakings in which an interest of less than 50% was held. Similarly, as at the aforesaid date, the Group neither managed nor consolidated any investment fund or any pension fund. Joint ventures These are entities subject to joint control contractual arrangements whereby decisions about the relevant activities are made unanimously by the entities that share control. Investments in joint ventures are accounted for using the equity method, i.e. by the fraction of equity represented by the share held in their capital stock, after taking account of any dividends received from them and any other equity disposals. The Group held no investments in joint ventures in 2024 and 2023. Associates Associates are entities over which the Group exerts significant influence, which generally, although not exclusively, takes the form of a direct or indirect interest representing 20% or more of the investee’s voting A-18

rights. The Group also considers other factors when determining whether it exerts significant influence over an investee, including the representation on its Board of Directors, involvement in decision-making and the existence of significant transactions between both entities. In the consolidated annual financial statements, associates are accounted for using the equity method. Notwithstanding the foregoing, when the Group’s investment in an associate is held directly by, or is held indirectly through, a venture capital organisation or similar entity, it may elect to measure that investment at fair value through profit or loss in accordance with IFRS 9. This election is made separately for each associate