Company: BBVXF
Filing Date: 2025-02-27
Form Type: F-4/A
Source: 0001193125-25-037317
Chunk: 100

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-27
Form: F-4/A
Chunk 100
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 interest rates applied to balances of credit institutions on the liabilities side, the most significant item being TLTRO III borrowing. 75

Gross Income

Net fees and commissions reached €1,386 million as at the end of 2023, representing a year-on-year reduction of 7.0%, which was mainly due to fewer service fees, as well as fewer asset management fees, particularly those charged on pension funds and insurance due to the change in the insurance
product mix.

Gains/(losses) on financial assets and liabilities and exchange differences reached a total of €68 million,
representing a reduction compared to the end of 2022, mainly due to reduced gains on trading derivatives.

Dividends received and earnings
of companies consolidated under the equity method together amounted to €131 million, compared with €156 million in the previous year, as the latter included higher earnings from BSCapital investees.

Other operating income and expenses amounted to €(447) million, compared with €(337) million in 2022. This negative
balance variation is mainly explained by the €(156) million paid for the new bank levy, booked in the first quarter of 2023, and by a larger contribution made to Banco Sabadell’s Deposit Guarantee Fund (€(132) million in 2023
compared to €(114) million in 2022), which was partially offset by the booking of a smaller contribution to the Single Resolution Fund (€(76) million in 2023 compared to €(100) million in 2022), given the reduction of the
target calculated by the Single Resolution Board (SRB). It is also worth mentioning that 2022 was impacted by the recognition of €(57) million net, resulting from the agreement regarding the incidents that took place following the
migration of TSB’s IT platform, which were partially offset with a tax-payable amount of €45 million (€32 million, net) due to insurance claim recoveries, with this item amounting to a
total of €(25) million net, while in 2023, an additional €16 million of insurance claims were recognized.

Pre-provisionsIncome

Total costs stood at €3,015 million as at year-end 2023, impacted by €33 million of non-recurrent costs recorded in the fourth quarter related to TSB’s restructuring, which included
€26 million of allocated provisions. Not including this impact, recurrent costs increased by 3.5% year