Company: BBVXF
Filing Date: 2025-02-14
Form Type: 6-K
Source: 0001193125-25-027348
Chunk: 63

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-14
Form: 6-K
Chunk 63
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 functions assigned to it, reporting monthly on its activities to the Board of Directors throughout the financial year. In relation to the oversight of the financial statements and public reporting In relation to overseeing the financial statements and public disclosures, the Committee analyzed and oversaw the process of preparing and presenting financial and non-financialinformation related to the Bank as well as its consolidated Group in the annual, half-yearly and quarterly reports, in order to determine its accuracy, reliability, adequacy and clarity, prior to its submission to the Board. These oversight functions, on financial and related non-financialinformation, have been carried out by a constant process throughout the year, in which it monitored the monthly trend in the balance sheet and income statement, the quarterly and semi-annual Financial Statements, the closing results for each period and the process for preparing the corresponding financial and non-financialinformation, paying close attention to the accounting principles, policies, criteria and valuations applied, the changes therein, as well as to the accounting regulations and the requirements established on non-financialinformation, in addition to monitoring the evolution of the Group’s consolidation perimeter. In addition, the Committee continuously monitored and analyzed, on a monthly basis, the main potential impacts on the business, balance sheet and income statement of the Bank and its Group from an accounting perspective. Highlights in the period include the analysis and supervision carried out on: (i) the update of the macroeconomic information used to calculate expected losses due to credit risk, in accordance with IFRS 9; (ii) the review of the model and associated parameters (recalibrated, due to its accounting terminology) for the calculation of provisions, as well as the management adjustments made to the provisions posted, given the uncertainty that prevailed during the year regarding the macroeconomic outlook; (iii) the analysis of indications of impairment on goodwill, as recorded in the Group’s accounts, in relation to the main Cash Generating Units (CGUs), in compliance with IAS 36; (iv) the valuation of the stake in Garanti BBVA in the accounts of BBVA S.A.; and (v) changes in the accounting policies or standards applicable to the Bank and its Group, among others. The Committee was also informed about changes in the accounting treatment of certain contents that have been periodically disclosed in the financial information, especially the temporary levy on banks in 2024 and the new tax on the banking sector for financial year 2025. Hence, prior to their drafting and/or approval by the Board of Directors, the Committee oversaw the preparation