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Note 6 (Tables)
 6 Months Ended
Jun. 30, 2023
Risk Management [Abstract]  
Maximum credit risk exposure [Table Text Block]
In accordance with IFRS 7 “Financial Instruments: Disclosures”, the BBVA Group’s credit risk exposure by headings in the consolidated balance sheets as of June 30, 2023 and December 31, 2022 is provided below. It does not consider the loss allowances and the availability of collateral or other credit enhancements to ensure compliance with payment obligations. The details are broken down by category of financial instruments:
Maximum credit risk exposure (Millions of Euros)
Notes June
2023		Stage 1Stage 2Stage 3
Financial assets held for trading 102,376
Equity instruments94,247
Debt securities933,999
Loans and advances964,129
Non-trading financial assets mandatorily at fair value through profit or loss8,019
Equity instruments107,432
Debt securities10313
Loans and advances10274
Financial assets designated at fair value through profit or loss111,004
Derivatives (trading and hedging) 60,371
Financial assets at fair value through other comprehensive income64,115
Equity instruments121,254
Debt securities62,83561,98183421
Loans and advances to credit institutions122626——
Financial assets at amortized cost450,181403,99832,36313,819
Debt securities44,86844,53929633
Loans and advances to central banks6,7536,753——
Loans and advances to credit institutions17,61117,57437—
Loans and advances to customers380,949335,13332,03013,787
Total financial assets risk686,066
Total loan commitments and financial guarantees210,578201,7677,7421,069
Loan commitments given30155,009149,8464,999164
Financial guarantees given3016,00715,031743233
Other commitments given3039,56136,8901,999672
Total maximum credit exposure896,643
Maximum credit risk exposure (Millions of Euros)
NotesDecember
2022		Stage 1Stage 2Stage 3
Financial assets held for trading 70,763
Equity instruments94,404
Debt securities924,367
Loans and advances941,993
Non-trading financial assets mandatorily at fair value through profit or loss6,888
Equity instruments106,511
Debt securities10129
Loans and advances10247
Financial assets designated at fair value through profit or loss11913
Derivatives (trading and hedging) 53,101
Financial assets at fair value through other comprehensive income65,497
Equity instruments121,198
Debt securities64,27363,42582226
Loans and advances to credit institutions122626——
Financial assets at amortized cost425,803378,40733,87313,523
Debt securities36,73036,46323730
Loans and advances to central banks4,4204,420——
Loans and advances to credit institutions16,06615,99769—
Loans and advances to customers368,588321,52833,56813,493
Total financial assets risk622,965
Total loan commitments and financial guarantees192,568181,4279,9931,147
Loan commitments given30136,920130,4596,283177
Financial guarantees given3016,51115,2141,015281
Other commitments given3039,13735,7532,695689
Total maximum credit exposure815,533
Maximum credit risk exposure, accumulated allowances and carrying amount by geographical location [Table Text Block]
The breakdown by geographical area and stage of the maximum credit risk exposure, the accumulated allowances recorded and the carrying amount of the loans and advances to customers at amortized cost as of June 30, 2023 and December 31, 2022 is shown below:
 June 2023 (Millions of Euros)
Gross exposureAccumulated allowancesCarrying amount
TotalStage 1Stage 2Stage 3TotalStage 1Stage 2Stage 3TotalStage 1Stage 2Stage 3
Spain ⁽¹⁾212,447187,04317,6507,754(4,626)(444)(653)(3,529)207,821186,59916,9974,225
Mexico86,57278,2376,1062,229(2,879)(1,138)(586)(1,155)83,69377,0995,5201,074
Turkey ⁽²⁾37,44031,5914,0131,836(1,767)(165)(401)(1,201)35,67331,4263,612635
South America ⁽³⁾43,44637,2404,2491,958(1,907)(316)(380)(1,212)41,53936,9243,869746
Others 1,0441,0221210(9)—(1)(8)1,0351,022112
Total ⁽⁴⁾380,949335,13332,03013,787(11,188)(2,063)(2,020)(7,105)369,761333,06930,0106,682
Of which: individual(1,796)(14)(545)(1,238)
Of which: collective(9,392)(2,050)(1,476)(5,867)
(1) Spain includes all the countries where BBVA, S.A. operates.
(2) Turkey includes all the countries in which Garanti BBVA operates.
(3) In South America, BBVA Group operates in Argentina, Colombia, Peru and Uruguay.
(4) The amount of the accumulated impairment includes the provisions recorded for credit risk over the remaining expected lifetime of purchased financial instruments. Those provisions were determined at the moment of the Purchase Price Allocation (PPA) and were originated mainly in the acquisition of Catalunya Banc S.A. (as of June 30, 2023, the remaining balance was €162 million). These valuation adjustments are recognized in the consolidated income statement during the residual life of the instrument or applied as allowances in the value of the financial instrument when the losses materialize.
December 2022 (Millions of Euros)
Gross exposureAccumulated allowancesCarrying amount
TotalStage 1Stage 2Stage 3TotalStage 1Stage 2Stage 3TotalStage 1Stage 2Stage 3
Spain ⁽¹⁾214,066186,97719,6217,468(4,860)(518)(759)(3,583)209,206186,45918,8623,885
Mexico73,72966,4485,3421,939(2,496)(955)(475)(1,066)71,23365,4944,866873
Turkey ⁽²⁾39,54732,7554,4362,356(2,105)(224)(358)(1,523)37,44332,5314,078833
South America ⁽³⁾40,19934,3124,1661,721(1,768)(318)(345)(1,105)38,43133,9943,821615
Others 1,0471,03539(8)——(7)1,0391,03532
Total ⁽⁴⁾368,588321,52833,56813,493(11,237)(2,014)(1,938)(7,284)357,351319,51331,6296,208
Of which: individual(2,164)(21)(604)(1,539)
Of which: collective(9,073)(1,994)(1,334)(5,745)
(1) Spain includes all the countries where BBVA, S.A. operates.
(2) Turkey includes all the countries in which Garanti BBVA operates.
(3) In South America, the BBVA Group operates in Argentina, Colombia, Peru and Uruguay.
(4) The amount of the accumulated impairment includes the provisions recorded for credit risk over the remaining expected lifetime of purchased financial instruments. Those provisions were determined at the moment of the Purchase Price Allocation (PPA) and were originated mainly in the acquisition of Catalunya Banc S.A. (as of December 31, 2022, the remaining balance was €190 million). These valuation adjustments are recognized in the consolidated income statement during the residual life of the instrument or applied as allowances in the value of the financial instrument when the losses materialize.
Loans and advances breakdown by counterparty and product [Table Text Block]
The breakdown by counterparty and product of the maximum credit risk exposure, the accumulated allowances recorded, as well as the carrying amount by type of product, classified in different headings of the assets as of June 30, 2023 and December 31, 2022 is shown below:
 June 2023 (Millions of Euros)
Central banksGeneral governmentsCredit institutionsOther financial corporationsNon-financial corporationsHouseholdsTotalGross carrying amount
On demand and short notice—6—2501,9398693,0643,198
Credit card debt—1—32,02519,41821,44722,807
Commercial debtors1,0466062021,1114722,88423,060
Finance leases—243—138,5243129,0919,338
Reverse repurchase loans664—7,200102——7,9667,989
Other term loans3,48321,3764,3308,494131,254146,383315,320324,562
Advances that are not loans2,5861,0656,0133,3391,25634114,60014,659
LOANS AND ADVANCES6,73423,73617,60312,821166,109167,369394,371405,613
By secured loans
Of which: mortgage loans collateralized by immovable property301—31624,47595,758120,851123,747
Of which: other collateralized loans6306,1176,7385049,8982,51726,40326,757
By purpose of the loan
Of which: credit for consumption56,62956,62960,568
Of which: lending for house purchase96,38996,38997,853
By subordination
Of which: project finance loans7,6077,6078,215
December 2022 (Millions of Euros)
Central banksGeneral governmentsCredit institutionsOther financial corporationsNon-financial corporationsHouseholdsTotalGross carrying amount
On demand and short notice—6—3522,8109334,1014,266
Credit card debt—1—32,02916,86518,89819,985
Commercial debtors1,0212437024,5108526,01126,254
Finance leases—195—138,0403228,5718,857
Reverse repurchase loans302—5,251102——5,6555,674
Other term loans3,80219,4384,0097,995126,949139,925302,118311,553
Advances that are not loans2962326,7723,9301,25621712,70212,758
LOANS AND ADVANCES4,40120,89216,05712,765165,593158,348378,056389,347
By secured loans
Of which: mortgage loans collateralized by immovable property297—33723,97095,056119,659122,719
Of which: other collateralized loans4985,3825,0735486,6352,20920,34520,675
By purpose of the loan
Of which: credit for consumption51,34451,34454,718
Of which: lending for house purchase95,24995,24996,716
By subordination
Of which: project finance loans7,9427,9428,530
Guarantees Received [Table Text Block]
The value of guarantees received as of June 30, 2023 and December 31, 2022, is as follows:
Guarantees received (Millions of Euros)
 June
2023		December
2022
Value of collateral131,494125,963
Of which: guarantees normal risks under special monitoring12,13812,826
Of which: guarantees impaired risks3,6963,440
Value of other guarantees52,58640,050
Of which: guarantees normal risks under special monitoring4,6834,963
Of which: guarantees impaired risks1,086984
Total value of guarantees received184,081166,013
Impaired Secured Loans [Table Text Block]
The breakdown of loans and advances, within the heading “Financial assets at amortized cost”, including their gross carrying amount, impaired loans and advances, and accumulated impairment, by counterparties as of June 30, 2023 and December 31, 2022, is as follows:
 June 2023 (Millions of Euros)
Gross carrying amountImpaired loans and advancesAccumulated impairment Impaired loans and advances as a % of the total
Central banks6,753—(19)— %
General governments23,76031(25)0.1 %
Credit institutions17,611—(34)— %
Other financial corporations12,85114(30)0.1 %
Non-financial corporations170,7225,679(4,783)3.3 %
Households173,6158,063(6,350)4.6 %
LOANS AND ADVANCES405,31313,787(11,241)3.4 %
December 2022 (Millions of Euros)
Gross carrying amountImpaired loans and advancesAccumulated impairment Impaired loans and advances as a % of the total
Central banks4,420—(19)— %
General governments20,92238(30)0.2 %
Credit institutions16,066—(35)— %
Other financial corporations12,80217(37)0.1 %
Non-financial corporations170,9296,340(5,495)3.7 %
Households163,9367,098(5,675)4.3 %
LOANS AND ADVANCES389,07313,493(11,291)3.5 %
Changes in impaired financial assets and guarantees given [Table Text Block]
The changes during the six months ended June 30, 2023, and the year ended December 31, 2022 of impaired financial assets (financial assets and guarantees given) are as follows:
Changes in impaired financial assets and guarantees given (Millions of Euros)
 June
2023		December
2022
Balance at the beginning 14,52115,467
Additions5,1328,084
Decreases ⁽¹⁾(2,886)(5,742)
Net additions2,2472,342
Amounts written-off(1,958)(2,771)
Exchange differences and other(64)(517)
Balance at the end 14,74614,521
(1) Reflects the total amount of impaired loans derecognized from the consolidated balance sheet throughout the period as a result of monetary recoveries as well as mortgage foreclosures and real estate assets received in lieu of payment.
Positive scenario of GDP, unemployment rate and HPI for the main geographies [Table Text Block]
BBVA Research forecasts a maximum of five years for the macroeconomic variables. The following estimates for the next five years of the Gross Domestic Product (GDP) growth, of the unemployment rate and of the House Price Index (HPI), for the most relevant countries where it represents a significant factor, are determined by BBVA Research and have been used at the time of the calculation of the ECL as of June 30, 2023:
Positive scenario of GDP, unemployment rate and HPI for the main geographical areas
SpainMexicoTurkey
DateGDPUnemploymentHPIGDPUnemploymentHPIGDPUnemployment
20233.04%11.03%(0.77)%3.28%2.77%6.27%8.42%8.89%
20242.59%10.12%1.00%2.40%3.53%6.13%4.37%9.74%
20252.94%8.86%2.21%2.37%3.40%4.14%3.91%10.94%
20262.84%7.63%2.21%2.17%3.47%1.55%3.82%11.27%
20272.52%6.75%2.27%2.05%3.54%0.88%3.75%11.30%
20282.24%6.09%1.93%1.98%3.41%1.92%3.66%11.32%
PeruArgentinaColombia
DateGDPUnemploymentGDPUnemploymentGDPUnemployment
20234.22%6.94%1.30%7.43%2.55%10.57%
20244.44%6.54%0.90%9.43%2.36%11.10%
20252.64%6.48%2.69%9.41%2.34%11.29%
20262.20%6.49%2.60%8.43%2.96%11.24%
20272.35%6.42%2.64%7.22%3.16%10.67%
20282.29%6.42%3.13%6.11%3.40%10.52%
Estimate of GDP, unemployment rate and HPI for the main geographies [Table Text Block]
Estimate of GDP, unemployment rate and HPI for the main geographical areas
SpainMexicoTurkey
DateGDPUnemploymentHPIGDPUnemploymentHPIGDPUnemployment
20232.42%12.23%(2.17)%2.42%2.88%6.33%4.50%10.10%
20242.11%11.73%(0.61)%1.76%3.72%6.01%2.05%11.13%
20252.86%10.48%1.67%2.27%3.56%4.04%3.75%11.55%
20262.83%9.20%1.79%2.14%3.61%1.59%3.70%11.50%
20272.52%8.13%1.82%2.04%3.67%0.86%3.62%11.50%
20282.24%7.33%1.47%1.96%3.53%1.90%3.54%11.50%
PeruArgentinaColombia
DateGDPUnemploymentGDPUnemploymentGDPUnemployment
20231.58%7.08%(3.50)%8.28%1.16%10.76%
20242.65%6.78%(2.00)%10.48%1.48%11.39%
20252.49%6.70%2.50%10.15%2.35%11.58%
20262.20%6.68%2.50%8.95%2.96%11.53%
20272.35%6.60%2.50%7.70%3.16%10.92%
20282.29%6.60%3.00%6.60%3.39%10.58%
Negative scenario of GDP, unemployment rate and HPI for the main geographies [Table Text Block]
Negative scenario of GDP, unemployment rate and HPI for the main geographical areas
SpainMexicoTurkey
DateGDPUnemploymentHPIGDPUnemploymentHPIGDPUnemployment
20231.82%13.39%(3.59)%1.59%3.01%6.33%0.51%11.29%
20241.65%13.28%(2.02)%1.11%3.91%5.80%(0.58)%12.57%
20252.77%12.05%1.08%2.18%3.72%3.85%3.62%12.20%
20262.80%10.77%1.14%2.09%3.75%1.51%3.61%11.73%
20272.48%9.79%1.06%1.99%3.80%0.85%3.55%11.67%
20282.21%8.83%0.72%1.92%3.67%1.90%3.47%11.66%
PeruArgentinaColombia
DateGDPUnemploymentGDPUnemploymentGDPUnemployment
2023(1.06)%7.22%(8.25)%9.09%(0.24)%10.96%
20240.86%7.02%(5.28)%11.49%0.56%11.67%
20252.35%6.93%2.29%10.88%2.35%11.85%
20262.20%6.89%2.37%9.45%2.96%11.80%
20272.35%6.80%2.34%8.17%3.16%11.21%
20282.29%6.80%2.85%7.09%3.39%10.65%
Expected loss variation as of June [Table Text Block]
Variation in expected loss is determined both by re-staging (that is: in worse scenarios due to the recognition of lifetime credit losses for additional operations that are transferred to stage 2 from stage 1 where 12 months of losses are valued; or vice versa in improvement scenarios) as well as variations in the collective risk parameters (PD and LGD) of each financial instrument due to the changes defined in the macroeconomic forecasts of the scenario. The variation in the expected loss for the Group and the main portfolios and geographical areas is shown below:
Expected loss variation as of June 2023 ⁽¹⁾
BBVA GroupSpainMexicoTurkey
GDPTotal PortfolioRetailCompaniesDebt securitiesTotal PortfolioCompaniesRetailTotal PortfolioCompaniesRetailTotal PortfolioCompaniesRetail
-100 bps23816566511856607937423715
+100 bps(206)(147)(51)(5)(92)(41)(49)(75)(3)(70)(20)(7)(12)
Housing price
-100 bps1263
+100 bps(1)(25)(3)
(1) Last available data as of May 31, 2023.
Changes In Loss Allowances Of Loans And Advances At Amortized Cost [Table Text Block]
Below are the changes in the six months ended June 30, 2023, and the year ended December 31, 2022 in the loss allowances recognized on the condensed consolidated balance sheets to cover the estimated impairment or reversal of impairment on loans and advances of financial assets at amortized cost:
Changes in loss allowances of loans and advances at amortized cost (Millions of Euros)
June
2023		December
2022
Balance at the beginning of the period (11,291)(11,142)
Increase in loss allowances charged to income(4,681)(8,288)
Stage 1(833)(1,556)
Stage 2(1,080)(1,443)
Stage 3(2,768)(5,289)
Decrease in loss allowances charged to income2,795 4,891 
Stage 1730 1,342 
Stage 2747 1,213 
Stage 31,319 2,336 
Transfer to written-off loans, exchange differences and other1,935 3,248 
 Closing balance(11,241)(11,291)
Wholesale financing operations carried out by group entities [Table Text Block]
The main wholesale financing operations carried out by Group entities are detailed below.
Those carried out by BBVA, S.A. during the first half of 2023 are:
Type of issueDate of issueNominal (millions)CurrencyCouponEarly redemptionMaturity date
Senior non-preferred Jan-231,000EUR4.625%Jan-30Jan-31
Covered bondsJan-231,500EUR3.125%—Jul-27
Senior preferredMay-231,000EUR4.125%May-25May-26
Tier 2Jun-23750EURMidswap + 280 basis pointsJun-Sep 28Sep-33
AT1Jun-231,000EUR8.375%Dec-28Perpetual