Company: BBVXF
Filing Date: 2025-09-09
Form Type: 424B3
Source: 0001193125-25-198517
Chunk: 413

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-09
Form: 424B3
Chunk 413
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2016/2251. 4.4.2.9 Assets pledged in financing activities As at 31 December 2024 and 2023, there were certain financial assets pledged in funding operations, i.e. delivered as collateral or guarantees with respect to certain liabilities. These assets correspond mainly to loans linked to the issuance of mortgage covered bonds, public sector covered bonds, TSB covered bonds and long-term asset-backed securities (see Note 20 and Schedule II). The remaining pledged assets are debt securities which are submitted in transactions involving assets sold under repurchase agreements, pledged collateral (loans or debt instruments) to access certain funding operations with central banks and all types of collateral provided to secure derivative transactions. A-181

The issuing entity Banco Sabadell did not issue any public sector covered bonds in either 2024 or 2023. The Group has used part of its portfolio of loans and similar credit in fixed-income securities by transferring assets to various securitisation funds created for this purpose. Under current regulations, securitisations in which there is no significant risk transfer cannot be derecognised from the balance sheet. The balance of the financial assets securitised under these programmes by the Group, as well as other financial assets transferred, depending on whether they have been derecognised or retained in full on the consolidated balance sheet, as at 31 December 2024 and 2023, is as follows:

| Thousand euro                              |     |      |           |     |      |           |
|                                            |     | 2024 |           |     | 2023 |           |
| Fully derecognised from the balance sheet: |     |      |   833,458 |     |      |   568,975 |
| Securitised mortgage assets                |     |      |   112,162 |     |      |   111,624 |
| Other securitised assets                   |     |      |   175,490 |     |      |   228,671 |
| Other financial assets transferred         |     |      |   545,806 |     |      |   228,680 |
| Fully retained on the balance sheet:       |     |      | 7,808,968 |     |      | 7,446,823 |
| Securitised mortgage assets                |     |      | 6,434,096 |     |      | 6,394,928 |
| Other se