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Statement of financial position, order of liquidity (Statement) - EUR (€)
€ in Millions
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Assets [Line Items]      
Cash and cash equivalents € 51,145 € 75,416 € 79,756 [1]
Current financial assets at fair value through profit or loss, classified as held for trading 108,948 141,042 110,671 [2]
Derivative financial assets held for trading 36,003 34,293 39,908 [2]
Equity instruments held at fair value through profit or loss, classified as held for trading 6,760 4,589 4,404 [2]
Debt instruments held for trading 27,955 28,569 24,367 [2]
Loans and advances to central banks held for trading 556 2,809 1,632
Loans and advances to credit institutions held for trading 20,938 56,599 25,231
loans and advances to customers held for trading 16,736 14,182 15,130
Financial assets at fair value through profit or loss, mandatorily measured at fair value 10,546 8,737 6,888 [2]
Equity instruments held at fair value through profit or loss, mandatorily measured at fair value, other than those classified as held for trading 9,782 7,963 6,511 [2]
Debt instruments held at fair value through profit or loss, mandatorily measured at fair value, other than those classified as held for trading 407 484 129 [2]
Loans and advances to customers at fair value through profit or loss, mandatorily measured at fair value, other than those classified as held for trading 358 290 247 [2]
Financial assets at fair value through profit or loss, designated upon initial recognition or subsequently 836 955 913 [2]
Debt securities at fair value through profit or loss 836 955 913 [2]
Financial assets at fair value through other comprehensive income 59,002 62,205 65,374 [2]
Investments in equity instruments designated at fair value through other comprehensive income 1,451 1,217 1,198 [2]
Debt securities at fair value through other comprehensive income [3] 57,526 60,963 64,150 [2],[4]
Loans and advances to credit institutions at fair value through other comprehensive income 25 26 26 [2]
Financial assets at amortised cost 502,400 451,732 414,421 [1],[5]
Debt instruments held at amortised cost 59,014 49,462 36,639 [1],[5],[6],[7]
Loans and advances to central banks at amortised cost 8,255 7,151 4,401 [5]
Loans and advances to banks 22,655 17,477 16,031 [5]
Loans and advances to customers 412,477 377,643 357,351 [5],[8]
Derivative financial assets held for hedging 1,158 1,482 1,891 [2]
Accumulated fair value hedge adjustment on hedged item included in carrying amount, assets (65) (97) (148)
Investments in subsidiaries, joint ventures and associates 989 976 916
Investments in joint ventures 94 93 100
Investments in associates 895 883 816
Assets under insurance contracts and reinsurance contracts issued 191 211 183
Tangible assets 9,759 9,253 8,737 [9]
Property, plant and equipment 9,506 9,046 8,441
Property plant and equipment for own use 8,501 8,295 7,911
Assets leased out under an operating lease 1,004 751 530
Investment property 253 207 296
Intangible assets and goodwill 2,490 2,363 2,156
Goodwill 700 795 707
Intangible assets other than goodwill 1,790 1,568 1,449
Tax assets 18,650 17,501 16,725 [10]
Current tax assets [11] 4,295 2,860 1,978 [10]
Deferred tax assets 14,354 14,641 14,747 [10],[12]
Other assets 5,525 2,859 2,586 [13]
Insurance contracts linked to pensions 0 0 0
Inventories [14] 1,299 276 325 [13]
Rest other assets 4,226 2,583 2,260
Non-current assets or disposal groups classified as held for sale 828 923 1,022
Assets 772,402 775,558 [15] 712,092 [15],[16],[17]
Equity and Liabilities [Line Items]      
Financial liabilities at fair value through profit or loss that meet definition of held for trading 86,591 121,715 95,611 [2]
Derivative financial liabilities held for trading 33,059 33,045 37,909 [2]
Short positions held for trading 13,878 15,735 13,487 [2]
Deposits from central banks held for trading 3,360 6,397 3,950
Deposits from credit institutions held for trading 16,285 43,337 28,924
Customer deposits held for trading 20,010 23,201 11,341
Financial liabilities at fair value through profit or loss, designated upon initial recognition or subsequently 14,952 13,299 10,580 [2]
Deposits from central banks at fair value through profit or loss, designated upon initial recognition or subsequently 0 0 0
Deposits from banks at fair value through profit or loss, designated upon initial recognition or subsequently 0 0 0 [2]
Customer deposits designated at fair value through profit or loss, designated upon initial recognition or subsequently 934 717 700 [2]
Other Financial liabilities at fair value through profit or loss, designated upon initial recognition or subsequently 9,420 8,605 6,592 [2]
Financial liabilities at amortised cost 584,339 557,589 529,172 [1],[18]
Liabilities due to central banks 14,668 20,309 38,323 [18]
Deposits from banks 34,406 40,039 26,935 [18]
Deposits from customers 447,646 413,487 394,404 [18],[19]
Debt instruments issued at amortised cost 69,867 68,707 55,429 [1],[18]
Other financial liabilities 17,753 15,046 14,081 [1],[18],[20]
Derivative financial liabilities held for hedging 2,503 2,625 3,303 [2]
Accumulated fair value hedge adjustment on hedged item included in carrying amount, liabilities 0 0 0
Insurance contracts issued that are liabilities 10,981 12,110 10,131 [21],[22]
Provisions 4,619 4,924 4,933
Provisions for employee benefits [23] 2,348 2,571 2,632
Other long term employees benefits 384 435 466
Legal proceedings provision 791 696 685
Provisions commitments and guarantees given 667 770 770
Other provisions [24] 429 452 380
Tax liabilities 3,033 2,554 2,935 [10]
Current tax liabilities [11] 575 878 1,415 [10]
Deferred tax liabilities 2,458 1,677 1,520 [10],[12]
Other liabilities 5,370 5,477 4,909 [13]
Liabilities included in disposal groups classified as held for sale 0 0 0
Liabilities 712,388 720,293 661,575
Shareholders equity 72,875 67,955 64,535
Issued capital 2,824 2,861 2,955
Paid up capital 2,824 2,861 2,955
Unpaid capital which has been called up 0 0 0
Share premium 19,184 19,769 20,856
Equity instruments issued other than capital 0 0 0
Other equity interest 40 40 63
Retained earnings 40,693 36,237 32,711
Revaluation surplus 0 0 0
Other reserves 1,814 2,015 2,345
Reserves or accumulated losses of investments in subsidaries joint ventures and associates (227) (237) (221) [25]
Other reserves other 2,041 2,252 2,566
Treasury shares (66) (34) (29)
Profits or losses attributable to owners of the parent 10,054 8,019 6,358
Interim dividends (1,668) (951) (722)
Accumulated other comprehensive income (17,220) (16,254) (17,642) [26]
Items that will not be reclassified to profit or loss (1,988) (2,105) (1,881) [26]
Actuarial gains or losses on defined benefit pension plans that will not be reclassified to profit or loss (1,067) (1,049) (760) [26]
Non current assets and disposal groups classified as held for sale that will not be reclassified to profit or loss 0 0 0
Share of other recognized income and expense of investments in joint ventures and associates that will not be reclassified to profit or loss 0 0 0
Fair value changes of equity instruments measured at fair value through other comprehensive income that will not be reclassified to profit or loss (905) (1,112) (1,194) [26],[27]
Hedge ineffectiveness of fair value hedges for equity instruments measured at fair value through other comprehensive income 0 0 0
Fair value changes of financial liabilities at fair value through profit or loss attributable to changes in their credit risk (17) 55 72 [26]
Other comprehensive income that will be reclassified to profit or loss, net of tax (15,232) (14,148) (15,760) [26]
Foreign currency translation (2,329) (2,498) (1,408) [26]
Foreign currency translation (12,702) (11,419) (13,078) [26]
Hedging derivatives. Cash flow hedges effective portion 370 133 (447)
Fair value changes of debt instruments measured at fair value through other comprehensive income that may be reclassified to profit or loss (576) (357) (809) [26],[27]
Hedging instruments non-designated items that may be reclassified to profit or loss 0 0 0
Non-current assets and disposal groups classified as held for sale may be reclassified 0 0 0
Share of other recognized income and expense of investments in joint ventures and associates that may be reclassified to profit or loss 5 (8) (18) [26]
Non-controlling interests 4,359 3,564 3,623 [28]
Accumulated other comprehensive income non controlling interest (2,730) (3,321) (3,109)
Other non controlling interest items 7,089 6,885 6,732
Adjusted initial balance 60,014 55,265 50,517
Equity and liabilities € 772,402 € 775,558 € 712,092
[1]
(1) Balances corresponding to 2022 have been restated according to IFRS 17 (see Note 1.3).
[2]
(1) Balances corresponding to 2022 have been restated according to IFRS 17 (see Note 1.3).
[3] (1) During financial years 2024 and 2023, there have been no significant reclassifications from the heading “Financial assets at fair value through other comprehensive income” to other headings or from other headings to “Financial assets at fair value through other comprehensive income”. In 2022, it includes redesignations from the heading "Financial assets at amortized cost" due to the application of IFRS 17 in 2022 (see Note 1.3).
[4] (1) Balances corresponding to 2022 have been restated according to IFRS 17 (see Note 1.3)
[5]
(1) This includes redesignations to the heading "Financial assets at fair value through other comprehensive income" due to the application of IFRS 17 (see Note 1.3).
[6]
(1) Balances corresponding to 2022 have been restated according to IFRS 17 (see Note 1.3).
[7]
(1) Balances corresponding to 2022 have been restated according to IFRS 17 (see Note 1.3).
[8] (1) Balances corresponding to 2022 have been restated according to IFRS 17 (see Note 1.3).
[9] (1) The number of branches in 2022 was affected by the closing of the transaction with Merlin Properties in which 100% of the shares of Tree Inversiones Inmobiliarias, SOCIMI, S.A. were acquired by BBVA Group.
[10]
(2) Balances corresponding to 2022 have been restated according to IFRS 17 (see Note 1.3).
[11]
(1) In 2024, the increase in current tax assets corresponds mainly to a higher tax receivable of the tax group in Spain, as well as in Mexico and Colombia, in relation to the Corporate Income Tax for the year 2024 related to the installment payments made in the year. On the other hand, the decrease in current tax liabilities corresponds mainly to the decrease in the tax payable in Mexico and Argentina in relation to the estimated income tax for the year 2023.
[12] (1) Balances corresponding to 2022 have been restated according to IFRS 17 (see Note 1.3)
[13]
(1) Balances corresponding to 2022 have been restated according to IFRS 17 (see Note 1.3).
[14]
(2) The variation in 2024 corresponds mainly to the acquisition of land plots from the Group's real estate company Crea Madrid Nuevo Norte, S.A. in relation to an urban planning operation in Madrid.
[15]
(1) In the first quarter of 2024 the Group changed its allocation criteria for certain expenses, mainly related with global international projects between the Corporate Center and the corresponding operating segments. Therefore, in order to make those year-on-year comparisons homogeneous, the figures for the years 2023 and 2022 were revised, which has not affected the consolidated financial information of the Group.
[16] (1) Balances corresponding to 2022 have been restated according to IFRS 17 (see Note 1.3)
[17]
(2) Restated balances according to IFRS 17 - Insurance contracts, which had no material impacts as of that date (see “Presentation of Financial Information—Changes in Accounting Policies—IFRS 17 – Insurance contracts”).
[18]
(1) Balances corresponding to 2022 have been restated according to IFRS 17 (see Note 1.3).
[19] (1) Balances corresponding to 2022 have been restated according to IFRS 17 (see Note 1.3).
[20]
(1) Balances corresponding to 2022 have been restated according to IFRS 17 (see Note 1.3).
[21]
(1) Balances corresponding to 2022 have been restated according to IFRS 17 (see Note 1.3).
[22]
(3) Balances corresponding to 2022 have been restated according to IFRS 17 (see Note 1.3).
[23]
(3) Recorded under the heading “Provisions - Provisions for pensions and similar obligations” of the consolidated balance sheet.
[24]
(2) Individually non-significant provisions, for various concepts and corresponding to different geographical areas.
[25]
(1) Balances corresponding to 2022 have been restated according to IFRS 17 (see Note 1.3).
[26]
(1) Balances corresponding to 2022 have been restated according to IFRS 17 (see Note 1.3).
[27] (1) Balances corresponding to 2022 have been restated according to IFRS 17 (see Note 1.3).
[28]
(1) Balances corresponding to 2022 have been restated according to IFRS 17 (see Note 1.3).