Company: BBVXF
Filing Date: 2025-09-09
Form Type: 424B3
Source: 0001193125-25-198517
Chunk: 668

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-09
Form: 424B3
Chunk 668
---
 gain or loss related to the right of use that it retains. The amendments to IFRS 16 will be applied retrospectively, with early application permitted. Judgements and estimates The preparation of the consolidated annual financial statements requires certain accounting estimates to be made. It also requires management to use its best judgement in the process of applying the Group’s accounting policies. Such judgements and estimates may affect the value of the assets and liabilities and the disclosure of contingent assets and contingent liabilities as at the date of the consolidated annual financial statements, as well as income and expenses in the year. The main judgements and estimates relate to the following:

| – | The determination of the business models under which financial assets are managed (see Notes 1.3.3, 8 and 11). |

| – | The accounting classification of financial assets according to their credit risk (see Notes 1.3.4, 8 and 11). |

| – | Losses due to the impairment of certain financial assets (see Notes 1.3.4, 8, 11 and 26). |

| – | The assumptions used in actuarial calculations of liabilities and post-employment obligations (see Notes 1.3.17 and 
 22).                                                                                                                |

| – | The measurement of consolidated goodwill (see Notes 1.3.12 and 16). |

| – | The useful life and impairment losses of tangible assets and other intangible assets (see Notes 1.3.10, 1.3.11, 
 1.3.12, 15 and 16).                                                                                             |

| – | The provisions and consideration of contingent liabilities (see Notes 1.3.16 and 22). |

| – | The fair value of certain unquoted financial assets (see Notes 1.3.3 and 6). |

| – | The fair value of real estate assets held on the balance sheet (see Notes 1.3.9, 1.3.10, 1.3.13 and 6). |

| – | The recoverability of non-monetisable deferred tax assets and tax credits (see Notes 1.3.20 and 39). |

The conflict between Russia and Ukraine and the European energy crisis have shaped the economic environment and the performance of financial markets in 2022, injecting uncertainty into companies’ activity, which has reinforced the need to use professional judgement when assessing the impact of the existing macroeconomic situation on the afo