Company: BBVXF
Filing Date: 2025-02-21
Form Type: 20-F
Source: 0000842180-25-000010
Chunk: 200

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-21
Form: 20-F
Item: Item 5
Chunk 200
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 at amortized cost amounted to €426,174 million as of December 31, 2024, or 90.9% of our total customer deposits, compared to €390,996 million and 89.4% of our total customer deposits as of December 31, 2023 (see Note 22.3 to the Consolidated Financial Statements).
Deposits from credit institutions and central banks
The following table shows amounts due to credit institutions and central banks as of December 31, 2024, 2023 and 2022:

                                                                  As of December 31,
2024                                                             2023           2022
                                                              (In Millions of Euros)
Deposits from credit institutions               50,690         83,376         55,859
Deposits from central banks                     18,028         26,707         42,273
Total                                           68,719        110,083         98,132
Deposits from credit institutions and central banks amounted to €68,719 million as of December 31, 2024 compared with €110,083 million as of December 31, 2023 (€98,132 million as of December 31, 2022). The decrease was mainly attributable to the decrease in deposits from credit institutions (through repurchase agreements) recorded under “Financial liabilities held for trading” due to the offsetting of certain financial assets and liabilities, for presentation purposes, in application of IAS 32 in 2024 in Spain and, to a lesser extent, the decrease in deposits from central banks, with the aim of reducing funding costs. The increase as of December 31, 2023 compared to December 31, 2022 was mainly attributable to an increase in deposits from credit institutions (through repurchase agreements) in Spain in the trading and amortized cost portfolios, partially offset by the decrease in deposits from the Bank of Spain in the amortized cost portfolio, driven mainly by the aforementioned substantial repayment by BBVA of drawdowns under the ECB’s TLTRO III facilities.
Capital markets
We make debt issuances in the domestic and international capital markets in order to finance our activities. As of December 31, 2024 we had €50,310 million of debt certificates outstanding, comprising €45,988 million in bonds and debentures and €4,322 million in promissory notes and other securities, compared with €52,875 million, €47,124 million and