Company: BBVXF
Filing Date: 2025-02-27
Form Type: F-4/A
Source: 0001193125-25-037317
Chunk: 513

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-27
Form: F-4/A
Chunk 513
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 due to changes in risk factors affecting
their market price or quotations, their volatility, or the correlations between them.

Positions that generate market risk are usually held in
connection with trading activity, which consists of the hedging transactions arranged by the Bank to provide services to its customers as well as discretionary proprietary positions.

Market risk can also arise from the mere maintenance of overall (also known as structural) balance sheet positions that in net terms are left open.
This risk is addressed in the sections on structural risks.

A-328

The items of the consolidated balance sheet as at 31 December 2023 and 2022 are shown below, making a distinction between positions included in trading activity and other positions. In the case of items not included in trading activity, their main risk factor is indicated:

| Thousand euro                                                                 |     |                  |             |   |     |                  |           |     |       |             |   |     |                            |                              |
|                                                                               |     | 31/12/2023       |             |   |     |                  |           |     |       |             |   |     |                            |                              |
|                                                                               |     | On-balance sheet 
 balance          |             |   |     | Trading activity |           |     | Other |             |   |     | Main market risk factor in 
 “Other”                    |                              |
| Assets subject to market risk                                                 |     |                  | 235,172,955 |   |     |                  | 1,731,724 |     |       | 233,441,231 |   |     |                            |                              |
| Cash, cash balances at central banks and other demand                         
 deposits                                                                      |     |                  |  29,985,853 |   |     |                  |         — |     |       |  29,985,853 |   |     |                            | Interest rate                |
| Financial assets held for trading                                             |     |                  |   2,706,489 |   |     |                  | 1,731,724 |     |       |     974,765 |   |     |                            | Interest rate; credit spread |
| Non-trading financial assets mandatorily at fair value through profit or loss |     |                  |     153,178 |   |     |                  |         — |     |       |     153,178 |   |     |                            | Interest rate; credit spread |
| Financial assets at fair value through other comprehensive income             |