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Note 7 (Tables)
 12 Months Ended
Dec. 31, 2024
Risk Management [Abstract]  
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 forecasts (positive base and negative scenarios) of the GDP growth, unemployment rate and House Price Index (HPI), for the most relevant countries where they represent a significant factor, provided by BBVA Research, were used for the calculation of the ECL as of December 31, 2024:
Positive scenario of GDP, unemployment rate and HPI for the main geographical areas
SpainMexicoTurkey
DateGDPUnemploymentHPIGDPUnemploymentHPIGDPUnemployment
20243.13 %10.97 %3.01 %1.25 %2.75 %4.57 %3.25 %8.79 %
20253.48 %8.78 %5.55 %2.48 %3.04 %4.85 %5.97 %9.89 %
20265.02 %8.17 %6.98 %3.87 %3.03 %4.38 %8.35 %9.27 %
20276.65 %7.64 %7.96 %3.54 %2.89 %4.82 %6.76 %8.80 %
20287.05 %7.21 %7.69 %3.58 %2.77 %5.12 %5.88 %8.81 %
20296.70 %6.96 %6.81 %3.52 %2.73 %5.46 %5.51 %8.96 %
PeruArgentinaColombia
DateGDPUnemploymentGDPUnemploymentGDPUnemployment
20243.12 %6.59 %(3.66) %10.37 %2.16 %10.20 %
20253.45 %6.55 %7.37 %8.67 %4.09 %10.07 %
20264.15 %6.44 %8.83 %7.13 %4.68 %9.72 %
20274.12 %6.31 %8.54 %5.92 %4.23 %9.11 %
20283.70 %6.20 %8.60 %5.05 %4.21 %8.55 %
20293.57 %6.12 %8.44 %4.50 %4.22 %7.95 %
The estimate for the next five years of the following rates, used in the measurement of the expected loss as of December 31, 2023, consistent with the latest estimates made public at that date, was:
Positive scenario of GDP, unemployment rate and HPI for the main geographical areas
SpainMexicoTurkey
DateGDPUnemploymentHPIGDPUnemploymentHPIGDPUnemployment
20232.52 %11.84 %(1.61) %3.62 %2.80 %5.44 %5.54 %9.31 %
20242.12 %10.32 %0.89 %3.79 %3.11 %4.98 %7.11 %8.82 %
20252.70 %9.58 %2.96 %2.68 %3.07 %4.41 %4.33 %9.86 %
20262.55 %8.81 %2.11 %2.67 %3.04 %4.14 %3.92 %10.68 %
20272.34 %8.22 %2.14 %2.76 %2.99 %4.20 %3.58 %10.95 %
20282.13 %7.67 %1.88 %2.85 %2.87 %5.09 %3.58 %11.01 %
PeruArgentinaColombia
DateGDPUnemploymentGDPUnemploymentGDPUnemployment
20230.33 %6.85 %(1.82) %8.05 %1.59 %10.06 %
20244.57 %6.63 %0.42 %9.46 %2.80 %10.99 %
20254.22 %6.54 %6.93 %9.23 %2.59 %11.27 %
20262.88 %6.35 %3.13 %8.34 %3.03 %11.03 %
20272.72 %6.32 %2.11 %7.23 %3.24 %10.35 %
20282.51 %6.28 %2.13 %6.11 %3.42 %9.90 %
Base scenario of GDP, unemployment rate and HPI for the main geographies [Table Text Block]
Base scenario of GDP, unemployment rate and HPI for the main geographical areas
SpainMexicoTurkey
DateGDPUnemploymentHPIGDPUnemploymentHPIGDPUnemployment
20243.09 %11.43 %2.99 %1.24 %2.75 %4.57 %3.18 %8.80 %
20252.29 %10.75 %4.32 %0.99 %3.13 %4.85 %2.48 %10.46 %
20261.69 %10.35 %2.99 %1.64 %3.25 %4.21 %4.52 %10.73 %
20271.86 %9.95 %2.24 %1.70 %3.17 %4.23 %4.18 %10.58 %
20281.80 %9.55 %1.61 %1.87 %3.08 %4.36 %4.11 %10.52 %
20291.80 %9.25 %1.41 %1.87 %3.04 %4.55 %4.01 %10.51 %
PeruArgentinaColombia
DateGDPUnemploymentGDPUnemploymentGDPUnemployment
20243.10 %6.59 %(3.76) %10.38 %1.96 %10.20 %
20252.67 %6.59 %5.48 %8.80 %2.49 %10.34 %
20262.70 %6.57 %4.47 %7.55 %3.19 %10.26 %
20272.75 %6.52 %3.48 %6.58 %2.92 %9.81 %
20282.45 %6.47 %3.54 %5.85 %2.96 %9.36 %
20292.41 %6.42 %3.48 %5.35 %2.99 %8.86 %
Base scenario of GDP, unemployment rate and HPI for the main geographical areas
SpainMexicoTurkey
DateGDPUnemploymentHPIGDPUnemploymentHPIGDPUnemployment
20232.36 %12.13 %(1.93) %3.40 %2.82 %5.47 %4.46 %9.63 %
20241.48 %11.80 %(0.92) %2.91 %3.27 %4.90 %3.50 %10.28 %
20252.47 %11.20 %1.94 %2.41 %3.25 %4.24 %3.54 %10.85 %
20262.53 %10.40 %1.74 %2.60 %3.18 %4.14 %3.79 %11.05 %
20272.34 %9.63 %1.69 %2.74 %3.11 %4.18 %3.46 %11.15 %
20282.13 %8.98 %1.43 %2.83 %2.99 %5.07 %3.46 %11.20 %
PeruArgentinaColombia
DateGDPUnemploymentGDPUnemploymentGDPUnemployment
2023(0.36) %6.88 %(3.01) %8.28 %1.24 %10.11 %
20241.99 %6.82 %(4.04) %10.48 %1.47 %11.25 %
20253.48 %6.77 %5.95 %10.15 %2.33 %11.56 %
20262.88 %6.55 %3.03 %8.95 %3.03 %11.32 %
20272.72 %6.50 %1.98 %7.70 %3.24 %10.60 %
20282.51 %6.46 %2.00 %6.60 %3.42 %10.09 %
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
20243.05 %11.88 %2.97 %1.20 %2.75 %4.56 %3.13 %8.80 %
20251.18 %12.71 %3.15 %(0.16) %3.20 %4.86 %0.41 %10.79 %
2026(1.30) %12.50 %(0.53) %(0.20) %3.43 %4.07 %1.59 %11.71 %
2027(2.50) %12.24 %(2.81) %0.14 %3.41 %3.76 %2.37 %11.83 %
2028(3.11) %11.88 %(3.87) %0.40 %3.34 %3.72 %3.21 %11.67 %
2029(2.86) %11.53 %(3.55) %0.42 %3.32 %3.79 %3.18 %11.47 %
PeruArgentinaColombia
DateGDPUnemploymentGDPUnemploymentGDPUnemployment
20242.92 %6.60 %(3.93) %10.38 %1.77 %10.21 %
20250.56 %6.73 %2.46 %9.02 %0.30 %10.68 %
20260.43 %6.85 %(0.60) %8.10 %0.93 %11.04 %
20270.63 %6.90 %(1.79) %7.35 %1.16 %10.81 %
20280.46 %6.93 %(1.53) %6.73 %1.36 %10.49 %
20290.51 %6.95 %(1.41) %6.25 %1.44 %10.09 %
Negative scenario of GDP, unemployment rate and HPI for the main geographical areas
SpainMexicoTurkey
DateGDPUnemploymentHPIGDPUnemploymentHPIGDPUnemployment
20232.21 %12.40 %(2.28) %3.20 %2.85 %5.49 %3.37 %9.94 %
20240.86 %13.23 %(2.54) %2.04 %3.45 %4.73 %(0.33) %11.73 %
20252.25 %12.77 %1.00 %2.13 %3.43 %4.03 %2.58 %11.92 %
20262.48 %11.98 %1.22 %2.53 %3.33 %4.00 %3.71 %11.43 %
20272.30 %11.34 %0.93 %2.70 %3.25 %4.18 %3.39 %11.32 %
20282.09 %10.57 %0.67 %2.79 %3.13 %5.07 %3.39 %11.36 %
PeruArgentinaColombia
DateGDPUnemploymentGDPUnemploymentGDPUnemployment
2023(1.04) %6.91 %(4.16) %8.49 %0.87 %10.15 %
2024(0.60) %7.03 %(8.75) %11.46 %0.15 %11.51 %
20252.73 %7.02 %4.77 %11.04 %2.03 %11.84 %
20262.88 %6.77 %2.92 %9.54 %3.03 %11.59 %
20272.72 %6.71 %1.82 %8.17 %3.24 %10.90 %
20282.51 %6.66 %1.85 %7.08 %3.42 %10.29 %
Expected loss variation as of december [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 December 31, 2024
BBVA GroupSpainMexicoTurkey
GDPTotal PortfolioRetailCompaniesDebt securitiesTotal PortfolioCompaniesRetailTotal PortfolioCompaniesRetailTotal PortfolioCompaniesRetail
- 100 bps153135171288207427232527
+100 bps(170)(145)(20)(1)(26)(8)(18)(92)(3)(89)(33)(9)(21)
Housing price
- 100 bps28
+100 bps(27)
Expected loss variation as of December 31, 2023
BBVA GroupSpainMexicoTurkey
GDPTotal PortfolioRetailCompaniesDebt securitiesTotal PortfolioCompaniesRetailTotal PortfolioCompaniesRetailTotal PortfolioCompaniesRetail
 - 100 bps2221882826114479429222911
 +100 bps(191)(165)(23)(2)(58)(13)(45)(89)(2)(87)(21)(9)(11)
Housing price
 - 100 bps32
 +100 bps(32)
Maximum credit risk exposure [Table Text Block]
BBVA Group’s credit risk exposure by headings in the consolidated balance sheets as of December 31, 2024, 2023 and 2022 is provided below. It does not consider the loss allowances and the availability of collateral or other credit enhancements to enable compliance with payment obligations. The details are broken down by category of financial instruments:
Maximum credit risk exposure (Millions of Euros)
NotesDecember 2024Stage 1Stage 2Stage 3
Financial assets held for trading 72,945
Equity instruments106,760
Debt securities1027,955
Loans and advances1038,230
Non-trading financial assets mandatorily at fair value through profit or loss10,546
Equity instruments119,782
Debt securities11407
Loans and advances11358
Financial assets designated at fair value through profit or loss12836
Derivatives (trading and hedging) 53,229
Financial assets at fair value through other comprehensive income59,115
Equity instruments131,451
Debt securities57,63955,3152,30916
Loans and advances to credit institutions132525——
Financial assets at amortized cost514,086467,91031,93014,246
Debt securities59,07058,88714934
Loans and advances to central banks8,2618,261——
Loans and advances to credit institutions22,66822,65882
Loans and advances to customers424,087378,10431,77214,211
Total financial assets risk710,757
Total loan commitments and financial guarantees262,233253,2918,150791
Loan commitments given33188,515182,8305,524160
Financial guarantees given3322,50321,513798192
Other commitments given3351,21548,9481,828439
Total maximum credit exposure972,990
Maximum credit risk exposure (Millions of Euros)
NotesDecember
2023		Stage 1Stage 2Stage 3
Financial assets held for trading 106,749
Equity instruments104,589
Debt securities1028,569
Loans and advances1073,590
Non-trading financial assets mandatorily at fair value through profit or loss8,737
Equity instruments117,963
Debt securities11484
Loans and advances11290
Financial assets designated at fair value through profit or loss12955
Derivatives (trading and hedging) 48,747
Financial assets at fair value through other comprehensive income62,289
Equity instruments131,217
Debt securities61,04760,25577121
Loans and advances to credit institutions132626——
Financial assets at amortized cost463,130410,59038,06114,478
Debt securities49,54449,40310832
Loans and advances to central banks7,1767,176——
Loans and advances to credit institutions17,49817,478182
Loans and advances to customers388,912336,53337,93514,444
Total financial assets risk690,606
Total loan commitments and financial guarantees214,283204,8428,4111,030
Loan commitments given33152,868147,3765,326165
Financial guarantees given3318,83917,612998229
Other commitments given3342,57739,8542,087636
Total maximum credit exposure904,889
Maximum credit risk exposure (Millions of Euros)
Notes
December 2022 ⁽¹⁾
Stage 1Stage 2Stage 3
Financial assets held for trading 70,763
Equity instruments104,404
Debt securities1024,367
Loans and advances1041,993
Non-trading financial assets mandatorily at fair value through profit or loss6,888
Equity instruments116,511
Debt securities11129
Loans and advances11247
Financial assets designated at fair value through profit or loss12913
Derivatives (trading and hedging) 53,101
Financial assets at fair value through other comprehensive income65,497
Equity instruments131,198
Debt securities64,27363,42582226
Loans and advances to credit institutions132626——
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 given33136,920130,4596,283177
Financial guarantees given3316,51115,2141,015281
Other commitments given3339,13735,7532,695689
Total maximum credit exposure815,533
(1) Balances corresponding to 2022 have been restated according to IFRS 17 (see Note 1.3).
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 as of December 31, 2024, 2023 and 2022 is shown below:
December 2024 (Millions of Euros)
Gross exposureAccumulated allowancesCarrying amount
TotalStage 1Stage 2Stage 3TotalStage 1Stage 2Stage 3TotalStage 1Stage 2Stage 3
Spain (1)
232,185208,96915,6377,579(4,684)(543)(631)(3,510)227,501208,42615,0064,069
Mexico91,71783,0536,1472,517(3,055)(1,210)(542)(1,303)88,66281,8435,6051,214
Turkey (2)
50,08342,7085,5341,841(1,784)(243)(390)(1,151)48,29942,4655,144690
South America (3)
48,89742,2044,4312,262(2,079)(393)(283)(1,403)46,81841,8114,148860
Others 1,2051,1702312(9)—(1)(7)1,1971,170224
Total (4)
424,087378,10431,77214,211(11,611)(2,389)(1,847)(7,374)412,477375,71529,9256,837
Of which: individual(1,532)(13)(321)(1,197)
Of which: collective(10,079)(2,376)(1,526)(6,177)
(1) Spain includes all countries where BBVA, S.A. operates.
(2) Turkey includes all countries in which Garanti BBVA operates.
(3) In South America, BBVA Group operates mainly in Argentina, Colombia, Peru and Uruguay.
(4) The amount of the accumulated allowances 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 and were originated mainly in the acquisition of Catalunya Banc S.A. (as of December 31, 2024, the remaining balance was €107 million). These valuation adjustments are recognized in the consolidated income statement during the residual life of the relevant instruments or value corrections are made when the losses materialize.
December 2023 (Millions of Euros)
Gross exposureAccumulated allowancesCarrying amount
TotalStage 1Stage 2Stage 3TotalStage 1Stage 2Stage 3TotalStage 1Stage 2Stage 3
Spain (1)
214,522183,50322,9538,066(4,593)(503)(714)(3,375)209,929183,00022,2394,690
Mexico91,08681,6196,9952,472(3,049)(1,097)(620)(1,332)88,03780,5226,3751,140
Turkey (2)
39,05834,1053,2341,719(1,641)(167)(314)(1,160)37,41633,9382,920559
South America (3)
43,15136,2374,7382,176(1,976)(319)(377)(1,280)41,17535,9184,362896
Others1,0941,0691511(10)—(1)(8)1,0851,068142
Total (4)
388,912336,53337,93514,444(11,269)(2,087)(2,026)(7,156)377,643334,44635,9097,287
Of which: individual(1,665)(15)(471)(1,179)
Of which: collective(9,604)(2,072)(1,555)(5,977)
(1) Spain includes all countries where BBVA, S.A. operates.
(2) Turkey includes all countries in which Garanti BBVA operates.
(3) In South America, BBVA Group operates mainly in Argentina, Colombia, Peru and Uruguay.
(4) The amount of the accumulated allowances 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 and were originated mainly in the acquisition of Catalunya Banc S.A. (as of December 31, 2023 the remaining balance was €142 million). These valuation adjustments are recognized in the consolidated income statement during the residual life of the relevant instruments or value corrections are made when the losses materialize.


December 2022 ⁽¹⁾ (Millions of Euros)
Gross exposureAccumulated allowancesCarrying amount
TotalStage 1Stage 2Stage 3TotalStage 1Stage 2Stage 3TotalStage 1Stage 2Stage 3
Spain ⁽²⁾
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 ⁽³⁾
39,54732,7554,4362,356(2,105)(224)(358)(1,523)37,44332,5314,078833
South America ⁽⁴⁾
40,19934,3124,1661,721(1,768)(318)(345)(1,105)38,43133,9943,821615
Others1,0471,03539(8)——(7)1,0391,03532
Total ⁽⁵⁾
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) Balances corresponding to 2022 have been restated according to IFRS 17 (see Note 1.3).
(2) Spain includes all countries where BBVA, S.A. operates.
(3) Turkey includes all countries in which Garanti BBVA operates.
(4) In South America, BBVA Group operates mainly in Argentina, Colombia, Peru and Uruguay.
(5) The amount of the accumulated allowances 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 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 operations or are applied to the value corrections when the losses materialize.
Maximum credit risk exposure, accumulated allowances and carrying amount by counterparty [Table Text Block]
The breakdown by counterparty of the maximum credit risk exposure, the accumulated allowances recorded, as well as the carrying amount by stages of loans and advances to customers as of December 31, 2024, 2023 and 2022 is shown below:
December 2024 (Millions of Euros)
Gross exposureAccumulated allowancesNet amount
TotalStage 1Stage 2Stage 3TotalStage 1Stage 2Stage 3TotalStage 1Stage 2Stage 3
Public administrations22,13321,98212526(23)(8)(7)(8)22,11121,97411818
Other financial corporations17,52417,04047112(26)(13)(5)(9)17,49717,0274674
Non-financial corporations197,521179,72712,7805,014(4,134)(639)(636)(2,859)193,386179,08712,1432,156
Households186,910159,35518,3969,158(7,427)(1,729)(1,199)(4,499)179,483157,62717,1974,659
Loans and advances to customers424,087378,10431,77214,211(11,611)(2,389)(1,847)(7,374)412,477375,71529,9256,837
December 2023 (Millions of Euros)
Gross exposureAccumulated allowancesNet amount
TotalStage 1Stage 2Stage 3TotalStage 1Stage 2Stage 3TotalStage 1Stage 2Stage 3
Public administrations23,29423,10516425(29)(9)(12)(7)23,26523,09615218
Other financial corporations13,27113,07218712(20)(9)(4)(7)13,25113,0621836
Non-financial corporations175,337154,51915,2995,520(4,274)(517)(795)(2,962)171,063154,00214,5032,558
Households177,009145,83722,2868,886(6,946)(1,552)(1,214)(4,180)170,063144,28521,0714,706
Loans and advances to customers388,912336,53337,93514,444(11,269)(2,087)(2,026)(7,156)377,643334,44635,9097,287
December 2022 ⁽¹⁾ (Millions of Euros)
Gross exposureAccumulated allowancesNet amount
TotalStage 1Stage 2Stage 3TotalStage 1Stage 2Stage 3TotalStage 1Stage 2Stage 3
Public administrations20,92220,58230238(30)(8)(11)(11)20,89220,57429127
Other financial corporations12,80212,54823817(37)(15)(12)(10)12,76512,5332266
Non-financial corporations170,929149,50115,0876,340(5,495)(675)(991)(3,829)165,433148,82614,0962,511
Households163,936138,89617,9417,098(5,675)(1,316)(925)(3,434)158,261137,58017,0173,663
Loans and advances to customers368,588321,52833,56813,493(11,237)(2,014)(1,938)(7,284)357,351319,51331,6296,208
(1) Balances corresponding to 2022 have been restated according to IFRS 17 (see Note 1.3).
Loans and advances breakdown by counterparty and product [Table Text Block]
The breakdown by type of counterparty and product, net of loss allowances, and the gross carrying amount by type of counterparty as of December 31, 2024, 2023 and 2022 is shown below:
December 2024 (Millions of Euros)
Central banksGeneral governmentsCredit institutionsOther financial corporationsNon-financial corporationsHouseholdsTotalGross carrying amount
On demand and short notice—8—593,1402,0995,3075,521
Credit card debt—1—32,26825,44927,72129,669
Commercial debtors1,077711,24429,24712531,76432,023
Finance leases—171—119,67227010,12510,364
Reverse repurchase loans—2199,15744——9,4209,422
Other term loans7,80320,5197,52911,771148,167151,313347,102356,002
Advances that are not loans4521175,9604,3651,08435312,33012,397
LOANS AND ADVANCES8,25522,11122,71917,497193,579179,610443,769455,399
By secured loans
Of which: mortgage loans collateralized by immovable property245—68029,30797,627127,860130,633
Of which: other collateralized loans—6,0599,62853010,9962,64829,86130,129
By purpose of the loan
Of which: credit for consumption67,44667,44672,447
Of which: lending for house purchase98,57098,570100,218
By subordination
Of which: project finance loans6,6696,6696,901
December 2023 (Millions of Euros)
Central banksGeneral governmentsCredit institutionsOther financial corporationsNon-financial corporationsHouseholdsTotalGross carrying amount
On demand and short notice—6—731,9331,0283,0403,175
Credit card debt—1—21,92720,95922,89024,454
Commercial debtors9607658623,4628825,17125,346
Finance leases—225—128,9402859,4639,714
Reverse repurchase loans1,345—5,78692——7,2237,234
Other term loans4,87821,6625,3299,300134,024147,491322,683331,813
Advances that are not loans9274126,3123,18695632412,11612,164
LOANS AND ADVANCES7,15123,26517,50213,251171,241170,175402,586413,901
By secured loans
Of which: mortgage loans collateralized by immovable property271—52624,82996,772122,397125,328
Of which: other collateralized loans1,3476,9334,55846510,9382,43026,67126,963
By purpose of the loan
Of which: credit for consumption59,89259,89264,303
Of which: lending for house purchase97,55597,55599,224
By subordination
Of which: project finance loans7,1817,1817,743
December 2022 ⁽¹⁾ (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
(1) Balances corresponding to 2022 have been restated according to IFRS 17 (see Note 1.3).
Impaired loans and advances at amortized cost covered by collateral [Table Text Block]
The disclosure of impaired loans and advances at amortized cost covered by collateral (see Note 7.2.5), shown by type of collateral, as of December 31, 2024, 2023 and 2022, is the following:
Impaired loans and advances at amortized cost covered by collateral (Millions of Euros)
Maximum exposure to credit riskOf which secured by collateral
Residential propertiesCommercial propertiesCashOthersFinancial
December 202414,2132,8895738911,153
December 202314,4463,1677715911,226
December 202213,4932,537849352984
Guarantees Received [Table Text Block]
The value of guarantees received as of December 31, 2024, 2023 and 2022, is the following:
Guarantees received (Millions of Euros)
202420232022
Value of collateral144,844136,141125,963
Of which: guarantees normal risks under special monitoring11,31814,27412,826
Of which: guarantees non-performing risks3,5624,0353,440
Value of other guarantees56,58953,46240,050
Of which: guarantees normal risks under special monitoring4,2734,8644,963
Of which: guarantees non-performing risks1,1531,226984
Total value of guarantees received201,433189,602166,013
Probability of default of loans and advances to customers and contingent risk and commitments [Table Text Block]
The table below outlines the distribution of the gross carrying amount of loans and advances to customers, contingent risk and commitments, in percentage terms, of the BBVA Group, based on their probability of default within 12 months and internal rating     used in the calculation of the expected loss under IFRS 9, and their stages, as of December 31, 2024, 2023 and 2022:
Probability of default (basis points) and internal rating
20242023
2022 ⁽¹⁾
Subject to 12 month ECL (stage 1)
Subject to lifetime ECL (stage 2)
Subject to 12 month ECL (stage 1)
Subject to lifetime ECL (stage 2)
Subject to 12 month ECL (stage 1)
Subject to lifetime ECL (stage 2)
Internal rating
PDs
%%%%%%
AAA0 to 23.2 — 3.8 — 5.5 0.1 
AA+ to AA-2 to 59.0 — 10.7 0.2 19.4 0.3 
A+ to A-5 to 1117.1 — 25.4 0.5 19.9 0.7 
BBB+ to BBB-11 to 3929.7 0.6 21.7 1.3 18.7 0.8 
BB+ to BB-39 to 19423.5 1.7 20.6 2.1 18.4 1.9 
B+ to B-194 to 1,06110.2 1.6 8.7 2.2 9.0 2.5 
CCC+ to CCC-1,061 to 2,1211.2 0.5 1.0 0.6 1.0 0.7 
CC+ to C> 2,1210.7 0.9 0.5 0.8 0.5 0.8 
Total94.5 5.5 92.4 7.6 92.3 7.7 
(1) Data corresponding to the year 2022, does not include commitments nor contingent liabilities.
Impaired secured loans risks [Table Text Block]
The breakdown of loans and advances within financial assets at amortized cost by type of counterparty, including their respective gross carrying amount, impaired amount and accumulated impairment as of December 31, 2024, 2023 and 2022 is as follows:
December 2024 (Millions of Euros)
Gross carrying amountImpaired loans and advancesAccumulated impairment
Central banks8,261—(6)
General governments22,13326(23)
Credit institutions22,6682(13)
Other financial corporations17,52412(26)
Non-financial corporations197,5215,014(4,134)
Households186,9109,158(7,427)
LOANS AND ADVANCES455,01614,213(11,630)
December 2023 (Millions of Euros)
Gross carrying amount
Impaired loans and advances
Accumulated impairment
Central banks7,176—(25)
General governments23,29425(29)
Credit institutions17,4982(21)
Other financial corporations13,27112(20)
Non-financial corporations175,3375,520(4,274)
Households177,0098,886(6,946)
LOANS AND ADVANCES413,58514,446(11,316)
December 2022 ⁽¹⁾ (Millions of Euros)
Gross carrying amountImpaired loans and advancesAccumulated impairment
Central banks4,420—(19)
General governments20,92238(30)
Credit institutions16,066—(35)
Other financial corporations12,80217(37)
Non-financial corporations170,9296,340(5,495)
Households163,9367,098(5,675)
LOANS AND ADVANCES389,07313,493(11,291)
(1) Balances corresponding to 2022 have been restated according to IFRS 17 (see Note 1.3).
Changes in impaired financial assets and guarantees given [Table Text Block]
The changes during the years 2024, 2023 and 2022 of impaired financial assets and guarantees given are as follows:
Changes in impaired financial assets and guarantees given (Millions of Euros)
202420232022
Balance at the beginning 15,36214,52115,467
Additions12,25511,0668,084
Decreases (1)
(7,346)(5,795)(5,742)
Net additions4,9095,2722,342
Amounts written-off(4,559)(3,770)(2,771)
Exchange differences and other(820)(660)(517)
Balance at the end 14,89115,36214,521
(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.
Changes in impaired financial assets written off from the balance sheet [Table Text Block]
The changes during the years 2024, 2023 and 2022 in financial assets derecognized from the consolidated balance sheet as their recovery is considered unlikely ("write-offs"), is shown below:
Changes in impaired financial assets written-off from the balance sheet (Millions of Euros)
Notes202420232022
Balance at the beginning 24,78722,59521,990
Companies held for sale———
Increase3,5473,8412,871
Decrease:(2,801)(2,035)(2,431)
Re-financing or restructuring(1)(1)(2)
Cash recovery47(403)(369)(390)
Foreclosed assets(1)(3)(25)
Sales (1)
(1,719)(1,201)(1,498)
Debt forgiveness(669)(410)(368)
Time-barred debt and other causes (8)(51)(147)
Net exchange differences(189)385165
Balance at the end25,34324,78722,595
(1) Includes principal and interest.
Changes in gross accounting balances of loans and advances at amortized cost [Table Text Block]
Movements, measured over a 12-month period, in gross accounting balances and accumulated loss allowances during 2024, 2023 and 2022 are recorded on the consolidated balance sheet as of December 31, 2024, 2023 and 2022 in order to cover the estimated impairment or reversal of impairment on loans and advances at amortized cost:
Changes in gross carrying amount of loans and advances at amortized cost. Year 2024 (Millions of Euros)
Stage 1Stage 2Stage 3Total
Balance at the beginning361,18637,95314,446413,585
Transfers of financial assets:(4,032)1,6252,407—
from stage 1 to stage 2(11,840)11,840——
from stage 2 to stage 19,830(9,830)——
to stage 3(3,260)(1,949)5,208—
from stage 31,2381,564(2,801)—
Net annual origination of financial assets64,222(6,378)1,10858,952
Becoming write-offs(333)(112)(3,149)(3,594)
Foreign exchange(13,508)(1,137)(557)(15,203)
Modifications that do not result in derecognition297836144
Other1,460(250)(78)1,131
Balance at the end409,02331,78014,213455,016
Changes in gross carrying amount of loans and advances at amortized cost. Year 2023 (Millions of Euros)
Stage 1Stage 2Stage 3Total
Balance at the beginning341,94433,63613,493389,073
Transfers of financial assets:(11,647)10,4631,184—
from stage 1 to stage 2(18,172)18,172——
from stage 2 to stage 17,639(7,639)——
to stage 3(3,203)(2,297)5,500—
from stage 32,0892,226(4,316)—
Net annual origination of financial assets34,334(5,233)2,66331,764
Becoming write-offs(186)(76)(2,889)(3,150)
Foreign exchange(2,833)(635)(369)(3,838)
Modifications that do not result in derecognition(60)(16)476401
Other(365)(187)(112)(665)
Balance at the end361,18637,95314,446413,585
 Changes in gross carrying amount of loans and advances at amortized cost. Year 2022 (Millions of Euros)
Stage 1Stage 2Stage 3Total
Balance at the beginning300,16734,21314,657349,037
Transfers of financial assets:(5,041)3,9141,128—
from stage 1 to stage 2(12,726)12,726——
from stage 2 to stage 18,537(8,537)——
to stage 3(1,941)(1,831)3,773—
from stage 31,0891,556(2,645)—
Net annual origination of financial assets44,465(4,201)25840,522
Becoming write-offs(63)(35)(2,432)(2,530)
Methodological changes and adoption of new standards ⁽¹⁾
(672)——(672)
Foreign exchange2,44718(461)2,004
Modifications that do not result in derecognition(2)29113140
Other643(301)231573
Balance at the end341,94433,63613,493389,073
(1) The entire impact corresponds to the application of IFRS 17 (See Note 1.3).
Changes in allowances of loans and advances at amortized cost [Table Text Block]
Changes in allowances of loans and advances at amortized cost. Year 2024 (Millions of Euros)
Stage 1Stage 2Stage 3Total
Balance at the beginning(2,131)(2,026)(7,158)(11,316)
Transfers of financial assets:105(370)(2,766)(3,031)
from stage 1 to stage 2103(697)—(594)
from stage 2 to stage 1(53)327—275
to stage 393146(3,498)(3,259)
from stage 3(38)(146)732548
Net annual origination of allowances(1,059)10(1,125)(2,174)
Becoming write-offs3211072,9093,337
Foreign exchange3252131,0751,613
Modifications that do not result in derecognition335(342)(304)
Other3018333246
Balance at the end(2,406)(1,848)(7,375)(11,630)
Changes in allowances of loans and advances at amortized cost. Year 2023 (Millions of Euros)
Stage 1Stage 2Stage 3Total
Balance at the beginning(2,065)(1,942)(7,284)(11,291)
Transfers of financial assets:73(336)(2,527)(2,790)
from stage 1 to stage 2118(681)—(563)
from stage 2 to stage 1(113)323—210
to stage 381120(2,935)(2,734)
from stage 3(13)(97)408297
Net annual origination of allowances(466)(148)(232)(846)
Becoming write-offs147712,8533,071
Foreign exchange(52)44169160
Modifications that do not result in derecognition349(304)(252)
Other229235167631
Balance at the end(2,131)(2,026)(7,158)(11,316)
Changes in allowances of loans and advances at amortized cost. Year 2022 (Millions of Euros)
Stage 1Stage 2Stage 3Total
Balance at the beginning(1,990)(2,091)(7,061)(11,142)
Transfers of financial assets:6333(1,570)(1,473)
from stage 1 to stage 2110(397)—(287)
from stage 2 to stage 1(91)374—283
to stage 351204(1,917)(1,662)
from stage 3(7)(148)347193
Net annual origination of allowances(406)(273)(663)(1,342)
Becoming write-offs186301,8902,106
Foreign exchange(87)248—161
Modifications that do not result in derecognition—48(160)(112)
Other16864279511
Balance at the end(2,065)(1,942)(7,284)(11,291)
Sensitivity to interest rate and credit spread analysis [Table Text Block]
The table below shows the profile of average structural interest rate risk and credit spread risk of the fixed income portfolio in the banking book classified as Held to Collect & Sale (HTC&S) in terms of sensitivities of the main currencies for the BBVA Group in 2024:
Sensitivity to interest-rate and credit spread analysis. Year 2024
Interest rate risk Credit spread
Impact on net interest income (1)
Impact on economic value ⁽²⁾
Impact on economic value ⁽²⁾
100 basis point increase100 basis point decrease100 basis point increase100 basis point decrease100 basis point increase
Euro[0.5% , 1.5%][-1.5% , -0.5%][-2.5% , -1.5%][0.5% , 1.5%][-1.5% , -0.5%]
Mexican peso[0.5% , 1.5%][-1.5% , -0.5%][-1.5% , -0.5%][0.5% , 1.5%][-0.5% , 0.5%]
U.S. dollar[0.5% , 1.5%][-1.5% , -0.5%][0.5% , 1.5%][-1.5% , -0.5%][-0.5% , 0.5%]
Turkish lira[-0.5% , 0.5%][-0.5% , 0.5%][-0.5% , 0.5%][-0.5% , 0.5%][-0.5% , 0.5%]
Other[-0.5% , 0.5%][-0.5% , 0.5%][-0.5% , 0.5%][-0.5% , 0.5%][-0.5% , 0.5%]
BBVA Group[1.5% , 2.5%][-3.5% , -2.5%][-3.5% , -2.5%][2.5% , 3.5%][-1.5% , -0.5%]
(1) Percentage of "12 months" net interest income for the BBVA Group.
(2) Percentage of CET1 (Fully Loaded) for BBVA Group.

Sensitivity to interest-rate and credit spread analysis. Year 2023
Interest rate risk Credit spread
Impact on net interest income ⁽¹⁾Impact on economic value ⁽²⁾Impact on economic value ⁽²⁾
100 basis point increase100 basis point decrease 100 basis point increase100 basis point decrease100 basis point increase
Euro[0.5% , 1.5%][-1.5% , -0.5%][-0.5% , 0.5%][-0.5% , 0.5%]
[-1.5% , -0.5%]
Mexican peso[0.5% , 1.5%][-1.5% , -0.5%][-1.5% , -0.5%][0.5% , 1.5%]
[-0.5% , 0.5%]
U.S. dollar[0.5% , 1.5%][-1.5% , -0.5%][0.5% , 1.5%][-1.5% , -0.5%]
[-0.5% , 0.5%]
Turkish lira[-0.5% , 0.5%][-0.5% , 0.5%][-0.5% , 0.5%][-0.5% , 0.5%]
[-0.5% , 0.5%]
Other[-0.5% , 0.5%][-0.5% , 0.5%][-0.5% , 0.5%][-0.5% , 0.5%]
[-0.5% , 0.5%]
BBVA Group[1.5% , 3.5%][-3.5% , -1.5%][-1.5% , -0.5%][0.5% , 1.5%][-1.5% , -0.5%]
(1) Percentage of "12 months" net interest income for the BBVA Group.
(2) Percentage of CET1 (Fully Loaded) for BBVA Group.
Sensitivity to one percent of the average rate in the main currencies [Table Text Block]
For the years 2024, 2023 and 2022, the estimated sensitivities (in absolute terms) of the result attributable to the parent company are shown below, taking into account the coverage, against depreciations and appreciations of 1% of the average rate in the main currencies. To the extent that hedging positions are periodically modulated, the sensitivity estimate attempts to reflect an average (or effective) sensitivity in the year:
Sensitivity to 1% change (Millions of Euros)
Currency202420232022
Mexican peso27.825.819.1
Turkish lira3.34.43.5
Peruvian sol1.40.90.7
Chilean peso0.20.20.4
Colombian peso0.41.00.9
Argentine peso1.81.31.9
VaR by Risk factor [Table Text Block]
As of December 31, 2024, 2023 and 2022 the VaR was €34 million, €36 million and €29 million, respectively, with the following breakdown:
VaR by Risk Factor (Millions of Euros) ⁽¹⁾
Interest/Spread riskCurrency riskStock-market riskVega/Correlation risk
Diversification effect ⁽²⁾
Total
2024
VaR average in the year41726(20)37
VaR max in the year551027(23)50
VaR min in the year33726(19)28
End of period VaR37524(14)34
2023
VaR average in the year36827(22)31
VaR max in the year436178(33)42
VaR min in the year239—9(23)19
End of period VaR41648(23)36
2022
VaR average in the year33837(23)27
VaR max in the year3512211(24)36
VaR min in the year2510211(28)19
End of period VaR321375(28)29
(1) The maximum and minimum VaR figures show the VaR figures for the day on which said maximum and minimum VaRs occurred in the relevant year, by type of risk.
(2) The diversification effect is the difference between the sum of the average individual risk factors and the total VaR figure that includes the implied correlation between all the variables and scenarios used in the measurement.
Impact of the stress test [Table Text Block]
The impact of the stress test under multivariable simulation of the risk factors of the portfolio based on the expected shortfall (expected shortfall calculated at a 97.5% confidence level, 20 days) as of December 31, 2024 is as follows:
Impact of the stress test (Millions of Euros)
0EuropeMexicoPeruVenezuelaArgentinaColombiaTurkey
Expected shortfall(132)(66)(25)—(29)(3)(10)
Effect offsetting for derivatives and securities operation [Table Text Block]
A summary of the effect of offsetting (via netting and collateral) for derivatives and securities operations is presented below as of December 31, 2024, 2023 and 2022:
Effect of offsetting for derivatives and securities operation (Millions of Euros)
Gross amounts not offset in the consolidated balance sheets
NotesGross amounts recognized (A)Gross amounts offset in the consolidated balance sheets (B)Net amount presented in the consolidated balance sheets (C=A-B)Financial instrumentsCash collateral received/ pledgedNet amount ⁽¹⁾
December 2024
Trading and hedging derivatives10 / 1545,5238,36237,16127,4469,566148
Reverse repurchase, securities borrowing and similar agreements65,40119,39746,00545,959—46
Total assets110,92427,75983,16573,4059,566194
Trading and hedging derivatives10 / 1543,9248,36235,56227,4467,658458
Repurchase, securities lending and similar agreements87,89319,39768,49768,497——
Total liabilities131,81827,759104,05995,9437,658458
December 2023
Trading and hedging derivatives10 / 1544,6418,86635,77525,1719,5321,072
Reverse repurchase, securities borrowing and similar agreements80,227—80,22779,980—248
Total assets124,8698,866116,003105,1519,5321,320
Trading and hedging derivatives10 / 1544,5368,86635,67027,3547,0131,303
Repurchase, securities lending and similar agreements104,920—104,920104,920——
Total liabilities149,4568,866140,590132,2747,0131,303
December 2022
Trading and hedging derivatives10 / 1552,35410,55441,80031,0199,824957
Reverse repurchase, securities borrowing and similar agreements47,111—47,11147,069—41
Total assets99,46510,55488,91178,0889,824998
Trading and hedging derivatives10 / 1551,76710,55441,21331,0288,9901,195
Repurchase, securities lending and similar agreements54,382—54,38252,7015861,095
Total liabilities106,14910,55495,59483,7299,5762,290
(1) It corresponds to the aggregation of the net amounts presented in the balance sheet, less the gross amount which is not offset in the balance sheet, corresponding to each Group entity that records a deficit in this regard.
LtSCD by LMU [Table Text Block]
The performance of the indicators show that the funding structure remained steady during 2024, 2023 and 2022, in the sense that all LMU held self-funding levels with stable customer resources above the requirements.
LtSCD by LMU
202420232022
Group (average)102 %99 %96 %
BBVA, S.A.101 %100 %98 %
BBVA Mexico115 %102 %98 %
Garanti BBVA90 %78 %83 %
Other LMU99 %104 %96 %
LCR main LMU [Table Text Block]
LCR main LMU
202420232022
Group 134 %149 %159 %
BBVA, S.A.156 %178 %186 %
BBVA Mexico146 %192 %199 %
Garanti BBVA141 %212 %185 %
Liquidity available by instrument [Table Text Block]
The table below shows the liquidity available by instrument as of December 31, 2024, 2023 and 2022 for the most significant entities based on prudential supervisor’s information (Commission Implementing Regulations (EU) 2021/451 of December 17, 2020):
Liquidity available by instrument (Millions of Euros)
BBVA, S.A.BBVA MexicoGaranti BBVAOther
202420232022202420232022202420232022202420232022
Cash and withdrawable central bank reserves16,00443,93148,27112,0019,71212,86510,3449,8996,7318,1015,9215,265
Level 1 tradable assets50,19931,60633,0818,78320,34513,9746,4026,1179,1658,7498,4297,836
Level 2A tradable assets1949193,45032724647——————
Level 2B tradable assets3,7622,9163,47115913235———31—1
Other tradable assets46,53744,32422,7085984694678163982859267531,035
Non tradable assets eligible for central banks11———————————
Cumulated counterbalancing capacity116,706123,696110,98121,86930,90327,38817,56216,41416,18117,80615,10214,136
NSFR main LMU [Table Text Block]
The NSFR of BBVA Group and its main LMU as of December 31, 2024, 2023 and 2022, was the following:
NSFR main LMU
202420232022
Group 127 %131 %135 %
BBVA, S.A.119 %120 %125 %
BBVA Mexico131 %140 %143 %
Garanti BBVA149 %178 %166 %
Residual maturities by contractual periods [Table Text Block]
Below is a matrix of residual maturities by contractual periods based on supervisory prudential reporting as of December 31, 2024, 2023 and 2022:
December 2024. Contractual maturities (Millions of Euros)
Demand Up to 1 month1 to 3 months3 to 6 months6 to 9 months9 to 12 months1 to 2 years2 to 3 years3 to 5 years Over 5 yearsTotal
ASSETS
Cash, cash balances at central banks and other demand deposits11,12538,087————————49,212
Deposits in credit entities—5,2465411,16564791886135133419,805
Deposits in other financial institutions—2,6771,6429709291,1301,5771,5261,36968112,502
Reverse repo, securities borrowing and margin lending—34,31010,5945,0251,9113,1385,7823,6753,00812267,565
Loans and advances—34,60538,54729,77016,92819,71544,53734,61851,469105,649375,837
Securities' portfolio settlement—2,8612,7416,0842,5315,92220,62520,05321,97244,850127,640
December 2024. Contractual maturities (Millions of Euros)
Demand Up to 1 month1 to 3 months3 to 6 months6 to 9 months9 to 12 months1 to 2 years2 to 3 years3 to 5 years Over 5 yearsTotal
LIABILITIES
Wholesale funding—2,4844,8165,5363,3473,6858,51711,3867,53028,30675,608
Deposits from financial institutions2,6006,07047664413073255824257074312,765
Deposits from other financial institutions and international agencies6,9509,2472,4661,5849225031,25647743374224,581
Customer deposits318,25250,78923,75811,5803,8884,3292,055569834787416,841
Security pledge funding—74,61414,0935,4522,3554,1572,2233661,454445105,159
Derivatives, net—(388)(73)(142)70142549(122)5(87)(46)
December 2023. Contractual maturities (Millions of Euros)
Demand Up to 1 month1 to 3 months3 to 6 months6 to 9 months9 to 12 months1 to 2 years2 to 3 years3 to 5 years Over 5 yearsTotal
ASSETS
Cash, cash balances at central banks and other demand deposits10,35361,678————————72,031
Deposits in credit entities—4,676393543594602602136241027,672
Deposits in other financial institutions—1,2881,2611,0493856492,0199659741,2919,882
Reverse repo, securities borrowing and margin lending—42,40721,6836,8903,3982,5963,3193,8172,13313986,382
Loans and advances—28,64430,85028,23916,43419,02941,26732,76945,116104,086346,433
Securities' portfolio settlement—2,1676,0112,6332,57811,95015,26614,01629,24534,558118,424
December 2023. Contractual maturities (Millions of Euros)
Demand Up to 1 month1 to 3 months3 to 6 months6 to 9 months9 to 12 months1 to 2 years2 to 3 years3 to 5 years Over 5 yearsTotal
LIABILITIES
Wholesale funding—1,1873,8898,5184,9354,22510,2967,99011,17522,42474,639
Deposits from financial institutions2,0923,6691,0767151196057954619869510,011
Deposits from other financial institutions and international agencies8,5075,5262,8061,0368348411,03361869563822,535
Customer deposits304,09644,74516,22511,8553,9055,5001,7531,0297581,092390,959
Security pledge funding—86,90830,0286,1072,2741,8212,6301,1112,060677133,615
Derivatives, net—(21)(30)6(62)(267)6945(135)(2,616)(3,009)
December 2022. Contractual maturities (Millions of Euros)
Demand Up to 1 month1 to 3 months3 to 6 months6 to 9 months9 to 12 months1 to 2 years2 to 3 years3 to 5 years Over 5 yearsTotal
ASSETS
Cash, cash balances at central banks and other demand deposits9,22766,497————————75,724
Deposits in credit entities—3,8703194334344682421836836,040
Deposits in other financial institutions32,1991,0127465163449718165518307,988
Reverse repo, securities borrowing and margin lending—31,0495,7433,3681,4321,1274,5821,3542,40028951,343
Loans and advances9924,62232,00925,62214,82716,76641,04932,51043,82896,201327,534
Securities' portfolio settlement14,0314,1078,2004,3054,74618,4178,74423,30731,480107,338
December 2022. Contractual maturities (Millions of Euros)
Demand Up to 1 month1 to 3 months3 to 6 months6 to 9 months9 to 12 months1 to 2 years2 to 3 years3 to 5 years Over 5 yearsTotal
LIABILITIES
Wholesale funding—1,8414,4341,0503,1482,0176,3189,42313,28218,14559,658
Deposits from financial institutions2,1767,8856288065669464821139639913,899
Deposits from other financial institutions and international agencies7,3925,7601,46546437975870029359472718,532
Customer deposits302,66738,95118,5426,7762,5752,8701,4761,276798273376,203
Security pledge funding—51,63814,54317,7368661,5038,1361,5243,493575100,013
Derivatives, net—(253)24(1,010)(23)17540(153)(466)(3,717)(5,383)
Wholesale financing transactions carried out by group entities [Table Text Block]
IssuerType of issueDate of issueNominal (millions)CurrencyCouponEarly redemptionMaturity date
BBVA, S.A.
Senior preferred Jan-241,250EUR3.875%—Jan-34
Tier 2
Feb-24
1,250EUR4.875%
Nov-30 to Feb-31
Feb-36
Senior preferredMar-241,000USD5.381%—Mar-29
Senior non-preferredMar-241,000USD6.033%Mar-34Mar-35
Senior preferred (green bond)
Mar-24
1,000EUR3.500%—
Mar-31
Senior preferred
Jun-24
1,000EUR
3 month Euribor rate + 45 basis points
—
Jun-27
Senior preferred
Jun-24
750EUR3.625%—
Jun-30
AT1 (CoCo)
Jun-24
750EUR6.875%Dec-30 to Jun-31Perpetual
Tier 2
Aug-24
1,000EUR4.375%
May-31 to Aug-31
Aug-36
Encumbered and unencumbered asstes [Table Text Block]
As of December 31, 2024, 2023 and 2022, the encumbered (those provided as collateral for certain liabilities) and unencumbered assets are broken down as follows:
Encumbered and unencumbered assets (Millions of Euros)
Encumbered assetsUnencumbered assets
Book value Fair valueBook value Fair value
202420232022202420232022202420232022202420232022
Assets68,26878,58692,916704,134696,972619,177
Equity instruments83459281983459281917,15913,17611,29317,15913,17611,293
Debt securities43,40451,45833,53345,63950,81832,291102,33388,97692,665102,33388,97692,665
Loans and advances and other assets24,03026,53558,563584,641594,821515,218
Collateral pledges received [Table Text Block]
As of December 31, 2024, 2023 and 2022, collateral pledges received mainly due to repurchase agreements and securities lending, and those which could be committed in order to obtain funding are provided below:
Collateral received (Millions of Euros)
Fair value of encumbered collateral received or own debt securities issuedFair value of collateral received or own debt securities issued available for encumbranceFair value of collateral received or own debt securities issued not available for encumbrance
202420232022202420232022202420232022
Collateral received40,87773,83640,70114,91714,8259,4151,1519961,279
Equity instruments2151,01932316251759———
Debt securities40,66372,81740,37814,75414,7748,6561,1519961,279
Loans and advances and other assets—————————
Own debt securities issued other than own covered bonds or ABSs———667492———
Sources of encumbrance [Table Text Block]
As of December 31, 2024, 2023 and 2022, financial liabilities issued related to encumbered assets in financial transactions as well as their book value were as follows:
Sources of encumbrance (Millions of Euros)
Matching liabilities, contingent liabilities or securities lentAssets, collateral received and own
debt securities issued other than covered bonds and ABSs encumbered
202420232022202420232022
Book value of financial liabilities109,833151,766122,400107,067149,853128,628
Derivatives17,04715,89515,95014,69813,75616,699
Deposits84,604126,77795,72881,938126,54399,077
Outstanding subordinated debt8,1829,09410,72210,4319,55412,852
Other sources1,1411,0667312,0792,5684,989