Company: BBVXF
Filing Date: 2025-02-21
Form Type: 20-F
Source: 0000842180-25-000010
Chunk: 105

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-21
Form: 20-F
Item: Item 4
Chunk 105
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 average interest-earning assets.
(3)“Spread” is the difference between “Gross yield” and the “Average effective rate paid on interest-bearing liabilities”.
ASSETS
Interest-Bearing Deposits in Other Banks 
As of December 31, 2024, interbank deposits (excluding deposits with central banks) (which are recorded under “Loans and advances to credit institutions” in the “Financial assets held for trading”, “Financial assets at amortized cost” and “Financial assets at fair value through other comprehensive income” portfolios), represented 5.7% of our total assets (compared to 9.6% of our total assets as of December 31, 2023). Of such interbank deposits, 12.7% were held outside of Spain and 87.3% in Spain. We believe that our deposits are generally placed with highly rated banks and have a lower risk than many loans we could make in Spain. However, such deposits are subject to the risk that the deposit banks may fail or that such banks or the banking system of certain of the countries in which a portion of our deposits are made may face liquidity or other problems.
Securities Portfolio
As of December 31, 2024, our total securities portfolio (consisting of investment securities and loans and advances recorded under “Financial assets held for trading” and “Financial assets at fair value through other comprehensive income” portfolios) was carried on our consolidated balance sheet at a carrying amount (equivalent to its market or appraised value as of such date) of €131,947 million, representing 17.1% of our total assets, a 21.9% decrease compared to our total securities portfolio as of December 31, 2023, mainly as a result of the decrease in loans to credit institutions (through reverse repurchase agreements) in Spain. €14,635 million, or 11.1%, of our securities portfolio as of December 31, 2024 consisted of Spanish Treasury bonds and Treasury bills. The average yield during 2024 on the investment securities that BBVA held was 7.2%, compared with an average yield of approximately 5.5% earned on loans and advances in the portfolios “Financial assets held for trading” and “Financial assets at fair value through other comprehensive income” during 2024. See Notes 10 and 13 to the Consolidated Financial Statements for additional information.
The tables in Note 8.1 and the first table in Note 13.