Company: BBVXF
Filing Date: 2025-09-09
Form Type: 424B3
Source: 0001193125-25-198517
Chunk: 828

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-09
Form: 424B3
Chunk 828
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 |   9,187 |     |                     |   155,795 |     |              |  11,861 |
| United States  |     |                     |    62,754 |     |              |       — |     |                     |    23,781 |     |              |       — |
| Mexico         |     |                     |    70,198 |     |              |       — |     |                     |    60,260 |     |              |       — |
| Other          |     |                     |    10,670 |     |              |       — |     |                     |     6,453 |     |              |       — |
| Total          |     |                     | 6,644,507 |     |              | 113,717 |     |                     | 6,707,527 |     |              | 123,765 |

As indicated in Note 1.3.20, according to the information available as at year-end,and the projections taken from the Group’s business plan for the coming years, the Group estimates that it will be able to generate sufficient taxable income to offset tax loss carry-forwards within a period of six years and non-monetisable tax assets when these can be deducted on the basis of current tax regulations within a period of 10 years. In addition, the Group performs a sensitivity analysis of the most significant variables used in the deferred tax asset recovery analysis, taking into consideration reasonable changes to the key assumptions on which the projected results of each entity or fiscal group are based and the estimated reversal of temporary differences. With respect to Spain, the variables included are those used in the sensitivity analysis of the calculation of the recoverable amount of goodwill (see Note 16). The conclusions arising from that analysis are not significantly different from those reached without stressing the significant variables. On 29 December 2021, the government published Law 22/2021, which sets forth the minimum tax rate for corporation tax in Spain, calculated for financial institutions, as 18% of the taxable base (provided this is positive), as from 2022. The change introduced by this tax regulation does not modify the recoverability period for the Group’s deferred tax assets. Monetisable tax assets are guaranteed by the State; therefore, their recoverability does not depend on the generation of future tax benefits. As at 31 December 2022, the Group had deferred tax assets for tax loss carry-forwards and unused deductions of 50.7 million