Company: BBVXF
Filing Date: 2025-02-27
Form Type: F-4/A
Source: 0001193125-25-037317
Chunk: 713

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-27
Form: F-4/A
Chunk 713
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 to be consistent with the business model of “holding financial assets in order to collect their contractual cash flows” under which these assets are managed. Therefore, the Bank decided to refrain from classifying any debt securities it may purchase under the heading “Financial assets at amortised cost” on the consolidated balance sheet, until it once again meets the conditions to do so. In March 2022, the Bank carried out an assessment to ascertain whether those conditions had been met. In particular, the assessment reviewed past sales from the debt securities portfolio recorded at amortised cost, and the reasons for those sales, as well as the prospects for future sales from that portfolio. Following that assessment, it was concluded that the right circumstances were in place to reactivate the “Holding financial assets in order to collect their contractual cash flows” business model in respect of those financial instruments, so that the allocation of purchased debt securities to that model was resumed as from the second quarter of 2022. The breakdown of the debt securities classified based on their credit risk and the movement of impairment allowances associated with these instruments are included, together with those of other financial assets, in Note 11. A-590

Details of debt instruments included under the “Financial assets at fair value through other comprehensive income” heading, as at 31 December 2022 and 2021, are shown below:

| Thousand euro                                  |     |      |           |     |      |           |
|                                                |     | 2022 |           |     | 2021 |           |
| Amortised cost                                 |     |      | 5,867,885 |     |      | 6,699,715 |
| Fair value (*)                                 |     |      | 5,622,692 |     |      | 6,685,091 |
| Accumulated losses recognised in equity        |     |      |  -298,718 |     |      |   -88,999 |
| Accumulated capital gains recognised in equity |     |      |    54,864 |     |      |    75,525 |
| Value adjustments made for credit risk         |     |      |    -1,339 |     |      |    -1,150 |

(*) Includes net impairment losses in the consolidated income statements for 2022 and 2021, in the amount of -182and 697 thousand euros, of which, -742and -677 thousandeuros correspond to allowances, and 560 and 1,374 thousand euros correspond to