Company: BBVXF
Filing Date: 2025-09-09
Form Type: 424B3
Source: 0001193125-25-198517
Chunk: 455

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-09
Form: 424B3
Chunk 455
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 |     |                       |  308,940 |     |         |  367,956 |     |         | 1,838,922 |     |       | 2,847,685 |

(*) This figure includes the amortisation/depreciation through profit or loss of impaired financial assets derecognised from the asset side of the balance sheet and the recovery of write-offs which have been recognised with a balancing entry under the heading “Impairment or (-) reversal of impairment on financial assets not measured at fair value through profit or loss and net modification losses or (-) gains” (see Note 34). (**) Corresponds to credit loss allowances transferred to non-current assets held for sale and investment properties. The breakdown by geographical area of the balance of impairment allowances as at 31 December 2024 and 2023 is as follows:

| Thousand euro          |     |           |     |           |
|                        |     |      2024 |     |      2023 |
| Spain                  |     | 2,380,069 |     | 2,566,179 |
| Rest of European Union |     |    65,472 |     |   171,176 |
| United Kingdom         |     |   258,361 |     |   283,907 |
| Americas               |     |   131,775 |     |   167,230 |
| Rest of the world      |     |    12,008 |     |    13,889 |
| Total                  |     | 2,847,685 |     | 3,202,381 |

A-236

Note 12 – Derivatives - hedge accounting Hedging management The main hedges arranged by the Group are described below: Interest rate risk hedge Based on the balance sheet position and the market situation and outlook, interest rate risk mitigation strategies are proposed and agreed upon to adapt that position to the one desired by the Group. With this aim in mind, the Group establishes interest rate risk hedging strategies for positions that are not included in the trading book and, to that end, derivative instruments are used, whether fair value or cash flow hedging instruments, and a distinction is made between them depending on the items hedged:

| – | Macro-hedges: hedges intended to mitigate the risk of balance sheet components. |

| – | Micro-hedges: hedges intended to mitigate the risk of a particular asset or liability. |

When a transaction is designated as a hed