Company: BBVXF
Filing Date: 2025-03-21
Form Type: 6-K
Source: 0000842180-25-000016
Chunk: 34

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-03-21
Form: 6-K
Chunk 34
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 in Turkey, one issuance was partially redeemed, amounting to USD 134 million, and the early redemption of another issuance of 750 million Turkish liras was announced and completed in February.

As a result of the above, the total fully loaded capital ratio stood at 16.90% as of December 31, 2024. The total phased-in capital ratio was also 16.90% as of the same date.

Already in 2025, BBVA, S.A. issued CoCos by USD 1.0 billion in January. On the other hand, BBVA, S.A also announced the early redemption of another issuance for the same amount, which is expected to be completed in March. In addition, with the aim of reinforcing Tier 2, BBVA, S.A. issued a subordinated bond for €1.0 billion at the end of February.

The composition of the fully loaded total capital ratio as of December 31, 2023 and December 31, 2024 is shown below:

| PILLAR 3 2024 |     | 3. SOLVENCY |     | P.45 |

Regarding the specific variation during the quarter, the Group’s CET1 fully loaded increased by 4 basis points with respect to the September level (12.84%).

The strong earnings generation during the quarter (+64 basis points), net of shareholder remuneration and payment of capital instruments (CoCos), generated a positive contribution of +29 basis points to CET1 ratio, which more than compensate the growth of risk-weighted assets (RWA) derived from the organic growth of activity in constant terms and the risk transfer initiatives in the period (consumption of -18 basis points), in line with the Group's strategy of continuing to promote profitable growth.

Among the remaining impacts that drain the ratio by -7 basis points, those associated with market variables stand out, particularly the negative evolution in the quarter due to the performance of the main currencies (highlighting the impact of the US dollar evolution) and, to a lesser extent, the valuation of fixed income portfolios.

The AT1 fully loaded ratio stood at 1.53% not showing any variation (0 basis points) compared to September 30, 2024. Merely impacted in the quarter by organic RWA growth, offset by the currency effect.

The Tier 2 fully loaded ratio has experienced a significant variation in the quarter (-23 basis points), mainly impacted by the announcement of the early redemption of one €1.0 billion issuance