Company: BBVXF
Filing Date: 2025-02-27
Form Type: F-4/A
Source: 0001193125-25-037317
Chunk: 428

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-27
Form: F-4/A
Chunk 428
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 amounts written off as they are considered to be non-recoverable.The algorithm then changes the initial classification depending on the established cure periods. Reclassification into a lower risk category will only be considered if evidence exists of a continuous and significant improvement in the recovery of the debt over time; therefore, the act of refinancing does not in itself produce any immediate improvements. Refinancing, refinanced and restructured transactions remain identified as such during a probation period until all of the following requirements are met:

| – | It is concluded, having reviewed the borrower’s assets and financial position, that the borrower is unlikely to 
 experience financial difficulties.                                                                              |

| – | A minimum of two years have passed since the date of the restructuring or refinancing or, if later, since the date of 
 reclassification to the stage 3 category.                                                                             |

| – | The borrower has paid the instalments of principal and interest accumulated since the date of the refinancing or 
 restructuring or, if later, since the date of reclassification to the stage 3 category.                          |

| – | The borrower has no other transactions with amounts more than 30 days past due at the end of the probation period. |

| – | At least 12 months have passed since the grace period came to an end. |

| – | The refinanced amount of both the contract and the borrower has been reduced and the cumulative amount since the             
 refinancing date is at least the amount equivalent to the refinanced unpaid amount, the write-down or the new risk approved. |

Refinancing, refinanced and restructured transactions remain in the stage 3 category until it can be verified that they meet the general criteria for reclassification to the stage 2 category, particularly the following requirements: A-261

| – | It is concluded, having reviewed the borrower’s assets and financial position, that the borrower is unlikely to 
 experience financial difficulties.                                                                              |

| – | One year has passed since the date of the refinancing or restructuring. |

| – | The borrower has paid the accumulated instalments of principal and interest. |

| – | The borrower has no other transactions with amounts more than 90 days past due on the date on which the refinancing, 
 refinanced or restructured transaction is reclassified to stage 2.                                                   |

| – | At least 12 months have passed since the grace period came to an end. |

| – | The refinanced amount of both the contract and the borrower has been reduced and the cumulative amount since the