Company: BBVXF
Filing Date: 2025-02-27
Form Type: F-4/A
Source: 0001193125-25-037317
Chunk: 262

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-27
Form: F-4/A
Chunk 262
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 denominated in foreign currencies are translated to the functional currency at the spot exchange rate, defined as the exchange rate for immediate delivery, on the recognition date. Subsequent to the initial recognition, the following rules are used to translate foreign currency balances to the functional currency of each investee:

| – | Monetary assets and liabilities are translated at the closing rate, defined as the average spot exchange rate as at 
 the reporting date.                                                                                                 |

| – | Non-monetary items measured at historical cost are translated at the exchange 
 rate ruling at the acquisition date.                                          |

| – | Non-monetary items measured at fair value are translated at the exchange rate 
 ruling at the date when the fair value was determined.                        |

| – | Income and expenses are translated at the exchange rate ruling at the transaction date. |

In general, exchange differences arising in the translation of debit and credit balances denominated in foreign currency are recognised in the consolidated income statement. However, for exchange differences A-46

arising in non-monetaryitems measured at fair value where the fair value adjustment is recognised under the heading “Accumulated other comprehensive income” in the consolidated statement of equity, a breakdown is given for the exchange rate component of the remeasurement of the non-monetaryitem. The balances of the financial statements of consolidated entities with a functional currency other than the euro are translated into euros in the following manner:

| – | Assets and liabilities are translated at the exchange rate ruling at each 
 year-end closing.                                                         |

| – | Income and expenses are translated at the average exchange rate, weighted by the volume of transactions of the 
 company whose income and expenses are being translated.                                                        |

| – | Equity is translated at historical exchange rates. |

Exchange differences arising in the translation of financial statements of consolidated entities with a functional currency other than the euro are recognised under the heading “Accumulated other comprehensive income” on the consolidated statement of equity. The exchange rates applied to translate balances denominated in foreign currency into euros are those published by the European Central Bank on 31 December of each year. 1.3.19 Recognition of income and expenses Interest income and expenses and other similar items Interest income and expenses and other similar items are generally accounted for over the period in which they accrue using the effective interest rate method, under the headings “Interest income” or “Interest expenses” of the consolidated income statement, as applicable. Dividends received from other entities are recognised as income at the time the right to receive them originates. Commissions,