Company: BBVXF
Filing Date: 2025-03-21
Form Type: 6-K
Source: 0000842180-25-000016
Chunk: 246

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-03-21
Form: 6-K
Chunk 246
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 prevailing regulatory and supervisory requirements and best industry practice, as well as the views and opinions of the Bank's various stakeholders.

The governance model for environmental, social and governance risks is integrated within BBVA's corporate governance system, under the terms detailed below.

Within the framework of the Corporate Governance System, the powers of the Board of Directors shall be those prescribed from time to time by prevailing and the Company’s Bylaws, as well as, specifically and among others, those set out in Article 17 of its Regulations.

Among other functions, and as an essential part of the Corporate Governance System, the Board of Directors is authorized, under Article 17(1)(a)(i) of its Regulations, to approve the Bank’s general policies and strategies. In use of this power, the Board has defined a general management and control framework, consisting of the Group's main strategic and forward-looking decisions (including the Strategic Plan, the Budget and the Risk Appetite Framework) and has approved a series of general policies containing the Board of Directors’ main guidelines for the management and supervision of the Group’s various areas of activity.

In addition, the Board broadly carries out — directly or through its Committees — the follow-up of the decisions made, including supervision of the implementation of the general policies, and of the management of the company and its Group.

For the proper fulfillment of its functions, the Board of Directors has a governance model in place that ensures the participation of all directors, with full freedom of criteria, in relation to: (i) adequate decision-making and monitoring and control processes; (ii) a complete, complete, adequate and consistent reporting model; and (iii) proactive management of identified conflicts of interest, both real and potential.

Thus, BBVA has a decision-making process which typically originates at the Bank’s executive areas. These areas draw up decision proposals, coordinated with the main strategic decisions already adopted by the Board, which are then laid before the competent corporate bodies for further analysis, debate and decision, supported by a reporting model that provides complete, integral, adequate and consistent information.

This Model is characterized by the interaction of the different Corporate Bodies among themselves and with those heading up the executive areas, thus providing the opportunity for frequent analysis and debate in order to make decisions that are aligned with the corporate interest and with the Bank’s Purpose.

Once the decisions have been made by the Corporate Bodies, the executive areas execute, develop or implement those decisions, reporting to the competent Corporate Bodies for their subsequent supervision and control, in accordance with the supervision and control processes