Company: BBVXF
Filing Date: 2025-09-05
Form Type: F-4/A
Source: 0001193125-25-196513
Chunk: 299

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-05
Form: F-4/A
Chunk 299
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 December 2024. Of that programme, as at 30 June 2025, the portion executed amounts to 393 million euros, with the portion pending execution amounting to 362million euros, which have been adjusted in the Institution’s reserves. The share buyback programme charged to 2023 earnings, of which 247million euros remained pending execution as at the beginning of 2025, has now been completed. (**) Minimum capital requirements have been calculated taking into account capital requirements in effect as at June 2025 for Pillar 1 (8%) and Pillar 2R (2.25%), as well as the capital conservation buffer (2.50%), countercyclical buffer (0.43%) and the buffer for other systemically important institutions (0.25%). CET1 capital accounts for 70.27% of eligible capital. Deductions are mainly comprised of intangible assets, goodwill and deferred tax assets. Tier 1 comprises, in addition to CET1 funds, items that largely make up Additional Tier 1 capital (17.91% of own funds), which are capital items comprised of preferred securities. In this respect, one issue of contingently convertible preferred securities (CoCos) was carried out on 20 May 2025 in the amount of 1 billion euros. Tier 2 capital provides 11.81% of the solvency ratio and is essentially made up of subordinated debt. The loss of eligibility in the period of the Subordinated Bonds 1/2016 series, because it was issued before 27 June 2019, is noteworthy; these bonds had contributed 86 million euros to Tier 2. Risk-Weighted Assets (RWAs) declined by 1,272 million euros in the period, mainly as a result of a reduction of credit RWAs. This reduction is essentially due to the entry into force of CRR III, the impact of the currency effect, the improved portfolio density and the synthetic securitisation of a 1,350 million euro portfolio of business loans in May 2025. These effects are partially offset by the growth in lending during the period. Lastly, the increase in operational RWAs is notable, due to the new calculation approach introduced by CRR III. CRR Ill incorporates a set of transitional provisions intended to facilitate the gradual adaptation of financial institutions to the new capital requirements, thereby minimising the possibility of sudden unforeseen impacts on their solvency levels. These measures affect both the calculation of RWAs and