Company: BBVXF
Filing Date: 2025-09-05
Form Type: F-4/A
Source: 0001193125-25-196513
Chunk: 554

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-05
Form: F-4/A
Chunk 554
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A-371

In 2023 and 2022, the discount rate on all commitments was determined by reference to the return on AA-ratedcorporate bonds (iBoxx €Corporates AA 10+), with an average duration of 11.96 and 13 years, respectively. The early retirement age considered is the earliest retirement date after which pension entitlements cannot be revoked by the employer for 100% of the employees. The return on long-term assets corresponding to plan assets and insurance policies linked to pensions was determined by applying the same discount rate used in actuarial assumptions (3.75% and 3.25% in 2023 and 2022, respectively). 1.3.18 Foreign currency transactions and exchange differences The Group’s functional and reporting currency is the euro. Consequently, all balances and transactions denominated in currencies other than the euro are treated as being denominated in a foreign currency. On initial recognition, debit and credit balances denominated in foreign currencies are translated to the functional currency at the spot exchange rate, defined as the exchange rate for immediate delivery, on the recognition date. Subsequent to the initial recognition, the following rules are used to translate foreign currency balances to the functional currency of each investee:

| – | Monetary assets and liabilities are translated at the closing rate, defined as the average spot exchange rate as at 
 the reporting date.                                                                                                 |

| – | Non-monetary items measured at historical cost are translated at the exchange 
 rate ruling on the acquisition date.                                          |

| – | Non-monetary items measured at fair value are translated at the exchange rate 
 ruling on the date on which the fair value was determined.                    |

| – | Income and expenses are translated at the exchange rate ruling at the transaction date. |

In general, exchange differences arising in the translation of debit and credit balances denominated in foreign currency are recognised in the consolidated income statement. However, for exchange differences arising in non-monetaryitems measured at fair value where the fair value adjustment is recognised under the heading “Accumulated other comprehensive income” in the consolidated statement of equity, a breakdown is given for the exchange rate component of the remeasurement of the non-monetaryitem. The balances of the financial statements of consolidated entities with a functional currency other than the euro are translated into euros in the following manner:

| – | Assets and liabilities are translated at the exchange rate ruling at each 
 year-end closing.                                                         |

| – | Income and expenses are translated at the average exchange rate