Company: BBVXF
Filing Date: 2025-02-27
Form Type: F-4/A
Source: 0001193125-25-037317
Chunk: 366

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-27
Form: F-4/A
Chunk 366
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 6,333,286 thousand euros. (**) The fair value of demand deposits has been likened to their carrying amount as they are mainly short-term balances. In general, the fair value of “Financial assets at amortised cost” and “Financial liabilities at amortised cost” has been estimated using the discounted cash flow method, applying market interest rates as at the end of each year adjusted for the credit spread and incorporating any behavioural assumptions deemed relevant, with the exception of debt securities with active markets, for which it has been estimated using year-end quoted prices. The fair value of the heading “Cash, cash balances at central banks and other demand deposits” has been likened to its carrying amount, as these are mainly short-term balances. Financial instruments at cost As at the end of 2024 and 2023, there were no equity instruments valued at their acquisition cost that could be considered significant. Non-financial assets Real estate assets As at 31 December 2024 and 2023, the net carrying amounts of real estate assets did not differ significantly from the fair values of these assets (see Notes 13, 15 and 17). The selection criteria for appraisers and the update of appraisals are defined in the section on “Guarantees”, in Note 1.3.4. to these consolidated annual financial statements. Valuation techniques are generally used by all appraisal companies based on the type of each real estate asset. As per regulatory requirements, in the valuation techniques used, appraisal companies maximise the use of observable market data and other factors which would be taken into account by market operators when setting prices, endeavouring to keep the use of subjective considerations and unobservable or non-verifiable data to a minimum. The main valuation methods used fall into the following measurement levels: Level 2

| – | Comparison method: applicable to all kinds of properties provided that there is a representative market of                      
 comparable properties and that sufficient data is available relating to transactions that reflect the current market situation. |

A-133

| – | Rental update method: applicable when the valued property generates or may generate rental income and there is 
 a representative market of comparable data.                                                                    |

| – | Statistical model: this model adjusts the value of the assets based on the acquisition date and their                                                                                                                                                    
 location, updating the value in accordance with price trends in the area concerned as from the date of purchase. To that end, it includes statistical information on price trends in all provinces, as provided by external appraisal companies, as well