Company: BBVXF
Filing Date: 2025-09-09
Form Type: 424B3
Source: 0001193125-25-198517
Chunk: 290

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-09
Form: 424B3
Chunk 290
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, the impact of the currency effect, the improved portfolio density and the synthetic securitisation of a 1,350 million euro portfolio of business loans in May 2025. These effects are partially offset by the growth in lending during the period. Lastly, the increase in operational RWAs is notable, due to the new calculation approach introduced by CRR III. CRR Ill incorporates a set of transitional provisions intended to facilitate the gradual adaptation of financial institutions to the new capital requirements, thereby minimising the possibility of sudden unforeseen impacts on their solvency levels. These measures affect both the calculation of RWAs and the implementation of the output floor. In particular, the new approach considers, among other things, a gradual application of the regulatory changes related to the calculation of RWAs for exposures in equity instruments and for A-35

Unconditionally Cancellable Commitments (UCCs). It also establishes a phased transition for the introduction of the output floor, allowing a phased implementation of the multiplier applicable to the Standardised Total Risk Exposure Amount (STREA) to determine the output floor and, additionally, establishing transitional arrangements for the calculation of the STREA applicable to exposures with businesses that have a Probability of Default (PD) of less than 0.5% and to securitisation positions. As at 30 June 2025, the fully-loaded CET1 ratio, without applying the transitional arrangements introduced by CRR III, stands at 13.56%. Furthermore, the fully-loaded total capital ratio stands at 19.29%. As indicated previously (see Note 1.7), the Bank’s Board of Directors has committed to distribute any excess capital above the 13% CET1 ratio 6to shareholders on a recurrent basis. After deducting this amount, the CET1 capital ratio stands at 13.06% in phase-interms and at 13.00% in fully-loaded terms, the Tier 1 ratio stands at 16.53% (phase-in)and 16.46% (fully-loaded), while the total capital ratio stands at 18.82% (phase-in) and 18.73% (fully-loaded). Leverage ratio The leverage ratio aims to reinforce capital requirements by providing a supplementary measure that is not linked to the level of risk. With the introduction of the CRR II regulation, a minimum leverage ratio of 3% is required as from June 2021; this percentage is comfortably exceeded by the Group as at 30 June 2025. The phase-in