Company: BBVXF
Filing Date: 2025-09-05
Form Type: F-4/A
Source: 0001193125-25-196513
Chunk: 754

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-05
Form: F-4/A
Chunk 754
---
 in 2020 and ended in March 2022 have fully come through. This all contributed to year-endROTE levels standing higher than those disclosed to the market and set as guidance for the Institution in 2023. 4.4.1.3 Reputational risk In recent years, both customers and society as a whole have attached more importance to the service offered by banks. Vulnerable customers and their specific needs have gained visibility. The change of the Group’s business model, shifting to one in which less of the service is provided in person, increases the materiality of this risk as these stakeholders’ perception of its performance is one of the factors that it considers. Banco Sabadell Group bases its business model on corporate values such as ethics, professionalism, rigour, transparency, quality and, in general, long-term business relationships that are beneficial to both the Group and its counterparties. The Group rigorously manages its reputational risk, identifying any potential or actual threat of this type in good time and ensuring that it is suitably dealt with as quickly and as early as possible, as the materialisation of such a risk could jeopardise the achievement of the vision that the Group has for its future and that it wishes to convey to the market, with its own unique and recognisable personality. The Group monitors this risk through the Board Risk Committee, which has a dashboard with indicators associated with the main stakeholders. The qualitative aspects of the RAS include the following aspects:

| – | Low appetite in the event of threats to the Group’s reputation. |

| – | Special consideration of restrictions on transactions with borrowers associated with political parties and the media. |

| – | The Group neither invests nor provides funding to companies linked to the development, manufacture, distribution,                     
 storage, transfer or sale of controversial weapons, as set forth in the various conventions of the United Nations currently in force. |

| – | The products and services offered to customers need to be known by all of the parties involved, who must be                                               
 specifically trained for their sale, only offering customers products and services that are appropriate to their needs, and safeguarding their interests. |

A-616

4.4.1.4 Environmental risk

The big milestone in the international commitment to fight against climate change materialises in the 2015 Paris Agreement, which promotes the
reduction of carbon emissions to limit global warming to “well below” 2°C in 2100 and which aims not to exceed 1.5ºC in relation to pre