Company: BBVXF
Filing Date: 2025-09-05
Form Type: F-4/A
Source: 0001193125-25-196513
Chunk: 142

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-05
Form: F-4/A
Chunk 142
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 will still remain at high levels. This will contribute to the risk premium remaining at contained levels. Within the financial environment, the profitability of the banking industry is forecast to remain resilient amidst the reactivation of credit and containment of delinquency rates. The capital and liquidity position is expected to remain robust. The entry into force of Basel III, the management of geopolitical risks, the implementation of new digital regulations, ESG matters, cyber threats, the impact of potential adjustments to the non-bank financial sector and the adjustment of commercial real estate will be areas to focus on. Critical Accounting Estimates Judgements and Estimates The information in this subsection has been extracted from pages 19 and 20 of Banco Sabadell’s consolidated financial statements as of and for the year ended December 31, 2024, reproduced herein on pages A-105 and A-106. See also Note 1.3 to the consolidated financial statements as of and for the year ended December 31, 2024. The preparation of the consolidated annual financial statements requires certain accounting estimates to be made. It also requires management to use its best judgement in the process of applying the Group’s accounting policies. Such judgements and estimates may affect the value of assets and liabilities and the disclosure of contingent assets and contingent liabilities as at the date of the consolidated annual financial statements, as well as income and expenses in the year. The main judgements and estimates relate to the following:

| • |     | The accounting classification of financial assets and off-balance sheet exposures according to their credit risk. |

| • |     | Impairment losses on certain financial assets and off-balance sheet 
 exposures.                                                          |

| • |     | The assumptions used in actuarial calculations of liabilities and post-employment obligations. |

| • |     | The measurement of consolidated goodwill. |

| • |     | The useful life and impairment losses of tangible assets and other intangible assets. |

| • |     | The provisions and consideration of contingent liabilities. |

| • |     | The fair value of certain unquoted financial assets. |

110

| • |     | The fair value of real estate assets held on the balance sheet. |

| • |     | The recoverability of non-monetizable deferred tax assets and tax 
 credits.                                                          |

The estimates are based on the best knowledge to hand about current and foreseeable circumstances, taking into account the uncertainties stemming from the existing economic and geopolitical environment and, consequently, the final results could differ from these estimates, particularly in relation to impairment