Company: BBVXF
Filing Date: 2025-08-12
Form Type: DRS
Source: 0000950123-25-007520
Chunk: 806

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-08-12
Form: DRS
Chunk 806
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 11, 2025. This Amendment No. 4 has not been publicly filed with the Securities and Exchange Commission and all information herein remains strictly confidential. On the other hand, in relation to the specific activity of Banco Sabadell Group in the United Kingdom, and from an operational standpoint, there are no signs of vulnerability in terms of existing contracts between counterparties, cross-dependency on financial market infrastructures, reliance on funding markets, etc. It is also worth noting that TSB has a low risk profile, with one of the most robust capital positions in the United Kingdom (fully-loaded CET1 capital ratio of 17.1%), with a balance sheet that is evenly distributed between loans and deposits (loan-to-depositratio of 105%) and with a loan book in which over 90% of loans are mortgage-secured. Furthermore, the quality of this mortgage book is very high, with an average LTV of 42%, and only a relatively small exposure to high-risk segments. In 2022, the Bank analysed the recoverability of the capital invested in TSB, based on the financial forecasts approved by the Board of Directors. The results of the analysis showed that there are no signs of impairment in this investment, as detailed in Note 16. 4.2 Key milestones during the year 4.2.1 The Group’s risk profile during the year The following milestones have been achieved in relation to the Group’s risk profile during 2022:

| I. | Non-performing assets: |

| – | Decrease in the NPL ratio in the year, from 3.7% to 3.4%, due to a reduction of stage 3 volumes as a result of 
 improved credit quality.                                                                                       |

| II. | Lending performance: |

| – | Gross performing loans continue to increase                                                                                                                              
 year-on-year in all geographies, excluding the impact of the evolution of foreign currencies, with annual growth figures of 1.7% in Spain, 3.3% in the UK (TSB) and 1.4% 
 in Mexico.                                                                                                                                                               |

| – | In Spain, the year-on-year growth is                                                                                   
 primarily driven by loans to individuals (the increase in the mortgage portfolio is noteworthy) and by business loans. |

| – | In TSB, at a constant exchange rate, annual growth was 3.3%, supported by the positive evolution of the mortgage 
 book.                                                                                                            |

| III. | Concentration: |