5. Other information

5.1 Alternative Performance Measures (APMs)
5.2 Compliance tables

5.1 Alternative Performance Measures (APMs)

BBVA presents its results in accordance with the International Financial Reporting Standards (EU-IFRS). However, it also considers that some Alternative Performance Measures (hereinafter APMs) provide useful additional financial information that should be taken into account when evaluating performance. These APMs are also used when making financial, operational and planning decisions within the Entity. The Group firmly believes that they give a true and fair view of its financial information. These APMs are generally used in the financial sector as indicators for monitoring the assets, liabilities and economic and financial situation of entities.

BBVA Group's APMs are given below. They are presented in accordance with the European Securities and Markets Authority (ESMA) guidelines, published on October 5, 2015 (ESMA/2015/1415en) as well as the statement published by the ESMA on May 20, 2020 (ESMA 32-63-972), about implications of the COVID-19 outbreak on the half-yearly financial reports. The guidelines mentioned before are aimed at promoting the usefulness and transparency of APMs included in prospectuses or regulated information in order to protect investors in the European Union. In accordance with the indications given in the guidelines, BBVA Group's APMs:

Include clear and readable definitions of the APMs.
Disclose the reconciliations to the most directly reconcilable line item, subtotal or total presented in the financial statements of the corresponding period, separately identifying and explaining the material reconciling items.
Are standard measures generally used in the financial industry, so their use provides comparability in the analysis of performance between issuers.
Do not have greater preponderance than measures directly stemming from financial statements.
Are accompanied by comparatives for previous periods.
Are consistent over time.

Constant exchange rates

When comparing two dates or periods in this management report, the impact of changes in the exchange rates against the euro of the currencies of the countries in which BBVA operates is sometimes excluded, assuming that exchange rates remain constant. This is done for the amounts in the income statement by using the average exchange rate against the euro in the most recent period for each currency of the geographical areas in which the Group operates, and applying it to both periods; for amounts in the balance sheet and activity, the closing exchange rates in the most recent period are used.

Reconciliation of the Financial Statements of the BBVA Group

Below is the reconciliation between the consolidated income statements of the consolidated Financial Statements and the consolidated management income statements, shown throughout this report, for the years 2021 and 2020.

In 2021, the main difference between them is the treatment of the cost related to the restructuring process in 2021 which, for management purposes, are included in a single line, net of taxes, of the income statement called "Net cost related to the restructuring process", compared to the treatment in the consolidated Financial Statements, which record the gross impacts and their tax effect in the corresponding headings.

In 2020, the main difference between them derives from the capital gains resulting from the materialization of the agreement with Allianz in that year which, for management purposes, are included in a single line, net of taxes, of the income statement called "Corporate operations", compared to the treatment in the consolidated Financial Statements, which record the gross impact on the line "Gains (losses) from non-current assets and disposable groups of items classified as held for sale not qualifying as discontinued operations" and its corresponding tax effect on the line "Tax expense or income related to profit or loss from continuing operations".

Additionally, for 2021 and 2020, there is a difference in the positioning of the results generated by BBVA USA and the rest of the companies included in the sale agreement to PNC until its closing, once the mandatory authorizations have been obtained, on June 1, 2021. In the Consolidated financial statements, these results are included in the line "Profit (loss) after tax from discontinued operations" and are taken into account both for the calculation of the "Profit (loss) for the year" and for the profit (loss) "Attributable to the owners of the parent" whereas, for management purposes, they are not included in the" Profit (loss) for the year", as they are included in a line below it, as can be seen in the following tables.

CONCILIATION OF THE BBVA GROUP'S INCOME STATEMENTS. 2021 (MILLIONS OF EUROS)

CONSOLIDATED INCOME STATEMENT		ADJUSTMENTS	CONSOLIDATED MANAGEMENT INCOME STATEMENT
	2021		2021
NET INTEREST INCOME	14,686	—	14,686	Net interest income
Dividend income	176			(*)
Share of profit or loss of entities accounted for using the equity method	1			(*)
Fee and commission income	6,997		6.997	Fees and commissions income
Fee and commission expense	(2,232)		(2,232)	Fees and commissions expenses
	4,765		4,765	Net fees and commissions
Gains (losses) on derecognition of financial assets and liabilities not measured at fair value through profit or loss, net	134
Gains (losses) on financial assets and liabilities held for trading, net	341
Gains (losses) on non-trading financial assets mandatorily at fair value through profit or loss, net	432
Gains (losses) on financial assets and liabilities designated at fair value through profit or loss, net	335
Gains (losses) from hedge accounting, net	(214)
Exchange differences, net	883
	1,910	—	1,910	Net trading income
Other operating income	661
Other operating expense	(2,041)
Income from insurance and reinsurance contracts	2,593
Expense from insurance and reinsurance contracts	(1,685)
	(295)	—	(295)	Other operating income and expenses
GROSS INCOME	21,066	—	21,066	Gross income
Administration costs	(8,296)		(9,530)	Operating expenses (**)
Personnel expense	(5,046)	—	(5,046)	Personnel expenses
Other administrative expense	(3,249)	—	(3,249)	Other administrative expenses
Depreciation and amortization	(1,234)		(1,234)	Depreciation
	11,536	—	11,536	Operating income
Provisions or reversal of provisions	(1,018)	754	(264)	Provisions or reversal of provisions
Impairment or reversal of impairment on financial assets not measured at fair value through profit or loss or net gains by modification	(3,034)	—	(3,034)	Impairment on financial assets not measured at fair value through profit or loss
NET OPERATING INCOME	7,484	754	8,238
Impairment or reversal of impairment of investments in joint ventures and associates	—
Impairment or reversal of impairment on non-financial assets	(221)
Gains (losses) on derecognition of non - financial assets and subsidiaries, net	24
Gains (losses) from non-current assets and disposal groups classified as held for sale not qualifying as discontinued operations	(40)
	(237)	240	2	Other gains (losses)
PROFIT (LOSS) BEFORE TAX FROM CONTINUING OPERATIONS	7,247	994	8,240	profit (loss) before tax
Tax expense or income related to profit or loss from continuing operations	(1,909)	(298)	(2,207)	Income tax
PROFIT (LOSS) AFTER TAX FROM CONTINUING OPERATIONS	5,338	696	6,034	profit (loss) for the period
Profit (loss) after tax from discontinued operations	280	(280)
PROFIT FOR THE YEAR	5,618	416	6,034	profit (loss) for the period
ATTRIBUTABLE TO MINORITY INTEREST (NON-CONTROLLING INTERESTS)	(965)	—	(965)	Non-controlling interests
ATTRIBUTABLE TO OWNERS OF THE PARENT	4,653	416	5,069	Net attributable profit (loss) excluding nonrecurring impacts
		280	280	profit (loss) after tax from discontinued operations
		(696)	(696)	Net cost related to the restructuring process
ATTRIBUTABLE TO OWNERS OF THE PARENT	4,653	—	4,653	Net attributable profit (loss)

^(*) Included within the Other operating income and expenses of the Management Income Statements.

^(**) Depreciations included.

CONCILIATION OF THE BBVA GROUP'S INCOME STATEMENTS.2020 (MILLIONS OF EUROS)

CONSOLIDATED INCOME STATEMENT		ADJUSTMENTS	CONSOLIDATED MANAGEMENT INCOME STATEMENT
	2020		2020
NET INTEREST INCOME	14,592	—	14,592	Net interest income
Dividend income	137			(*)
Share of profit or loss of entities accounted for using the equity method	(39)			(*)
Fee and commission income	5,980		5,980	Fees and commissions income
Fee and commission expense	(1,857)		(1,857)	Fees and commissions expenses
	4,123		4,123	Net fees and commissions
Gains (losses) on derecognition of financial assets and liabilities not measured at fair value through profit or loss, net	139
Gains (losses) on financial assets and liabilities held for trading, net	777
Gains (losses) on non-trading financial assets mandatorily at fair value through profit or loss, net	208
Gains (losses) on financial assets and liabilities designated at fair value through profit or loss, net	56
Gains (losses) from hedge accounting, net	7
Exchange differences, net	359
	1,546	—	1,546	Net trading income
Other operating income	492
Other operating expense	(1,662)
Income from insurance and reinsurance contracts	2,497
Expense from insurance and reinsurance contracts	(1,520)
	(95)	—	(95)	Other operating income and expenses
GROSS INCOME	20,166	—	20,166	Gross income
Administration costs	(7,799)		(9,088)	Operating expenses (**)
Personnel expense	(4,695)	—	(4,695)	Personnel expenses
Other administrative expense	(3,105)	—	(3,105)	Other administrative expenses
Depreciation and amortization	(1,288)		(1,288)	Depreciation
	11,079	—	11,079	Operating income
Provisions or reversal of provisions	(746)		(746)	Provisions or reversal of provisions
Impairment or reversal of impairment on financial assets not measured at fair value through profit or loss or net gains by modification	(5,179)	—	(5,179)	Impairment on financial assets not measured at fair value through profit or loss
NET OPERATING INCOME	5,153		5,153
Impairment or reversal of impairment of investments in joint ventures and associates	(190)
Impairment or reversal of impairment on non-financial assets	(153)
Gains (losses) on derecognition of non - financial assets and subsidiaries, net	(7)
Gains (losses) from non-current assets and disposal groups classified as held for sale not qualifying as discontinued operations	444
	94	(435)	(341)	Other gains (losses)
PROFIT (LOSS) BEFORE TAX FROM CONTINUING OPERATIONS	5,248	(435)	4,813	Profit/(loss) before tax
Tax expense or income related to profit or loss from continuing operations	(1,459)	130	(1,328)	Income tax
PROFIT (LOSS) AFTER TAX FROM CONTINUING OPERATIONS	3,789	(304)	3,485	Profit (loss) for the period
Profit (loss) after tax from discontinued operations	(1,729)	1,729
PROFIT FOR THE YEAR	2,060	1,424	3,485	Profit (loss) for the period
ATTRIBUTABLE TO MINORITY INTEREST (NON-CONTROLLING INTERESTS)	(756)	—	(756)	Non-controlling interests
ATTRIBUTABLE TO OWNERS OF THE PARENT	1,305	1,424	2,729	Net attributable profit (loss) excluding nonrecurring impacts
		(1,729)	(1,729)	Profit (loss) after tax from discontinued operations
		304	304	Net cost related to the restructuring process
ATTRIBUTABLE TO OWNERS OF THE PARENT	1,305	—	1,305	Net attributable profit (loss)

^(*) Included within the Other operating income and expenses of the Management Income Statements.

^(**) Depreciations included.

Profit (loss) for the year

Explanation of the formula: The profit (loss) for the year is the profit (loss) for the year from the Group’s consolidated income statement, which comprises the profit (loss) after tax from continued operations and the profit (loss) after tax from discontinued operations of BBVA USA and the rest of the companies in the United States sold to PNC on June 1, 2021. If the described metric is presented on a date prior to the end of the year, it will be presented on an annualized basis.

Relevance of its use: This measure is commonly used, not only in the banking sectors, for homogeneous comparison purposes.

Profit (loss) for the year

			Jan.-Dec.2021	Jan.-Dec.2020	Jan.-Dec.2019
(Millions of euros)	+	Profit (loss) after tax from continued operations	5,338	3,789	5,103
(Millions of euros)	+	Profit (loss) after tax from discontinued operations⁽¹⁾	280	(1,729)	(758)
	=	Profit (loss) for the period	5,618	2,060	4,345

⁽¹⁾ January-December 2021 only includes the results generated by BBVA USA and the rest of the companies in the United States included in the agreement until its sale to PNC as of June 1, 2021.

Adjusted profit (loss) for the year

Explanation of the formula: The adjusted profit (loss) for the year is the profit (loss) from continued operations for the period from the Group’s consolidated income statement, excluding those extraordinary items that, for management purposes, are defined at any given moment. If the described metric is presented on a date prior to the end of the year, it will be presented on an annualized basis.

Relevance of its use: This measure is commonly used, not only in the banking sector, for homogeneous comparison purposes.

Adjusted profit (loss) for the year

			Jan.-Dec.2021	Jan.-Dec.2020	Jan.-Dec.2019
(Millions of euros)	+	Profit (loss) after tax from continued operations	5,338	3,789	5,103
(Millions of euros)	—	Net capital gains from the bancassurance operation	—	304	—
(Millions of euros)	—	Net cost related to the restructuring process	(696)	—	—
	=	Adjusted profit (loss) for the period	6,034	3,485	5,103

Net attributable profit (loss)

Explanation of the formula: The net attributable profit (loss) is the net attributable profit (loss) of the Group’s consolidated income statement from continued operations and the profit (loss) after tax from discontinued operations of BBVA USA and the rest companies in the United States sold to PNC on June 1, 2021. If the described metric is presented on a date prior to the end of the year, it will be presented on an annualized basis.

Relevance of its use: This measure is commonly used, not only in the banking sector, for homogeneous comparison purposes.

Net attributable profit (loss)

			Jan.-Dec.2021	Jan.-Dec.2020	Jan.-Dec.2019
(Millions of euros)	+	Net attributable profit (loss) from continued operations	4,373	3,033	4,270
(Millions of euros)	+	Net attributable profit (loss) from discontinued operations⁽¹⁾	280	(1,729)	(758)
	=	Net attributable profit (loss)	4,653	1,305	3,512

⁽¹⁾ January-December 2021 only includes the results generated by BBVA USA and the rest of the companies in the United States included in the agreement until its sale to PNC as of June 1, 2021.

Adjusted net attributable profit (loss)

Explanation of the formula: The adjusted net attributable profit (loss) is the net attributable profit (loss) of the Group’s consolidated income statement from continued operations excluding those extraordinary items that, for management purposes are defined at any given moment. If the described metric is presented on a date prior to the end of the year, it will be presented on an annualized basis.

Relevance of its use: This measure is commonly used, not only in the banking sector, for comparison purposes.

Adjusted net attributable profit (loss)

			Jan.-Dec.2021	Jan.-Dec.2020	Jan.-Dec.2019
(Millions of euros)	+	Net attributable profit (loss) from continued operations	4,373	3,033	4,270
(Millions of euros)	—	Net capital gains from the bancassurance operation	—	304	—
(Millions of euros)	—	Net cost related to the restructuring process	(696)	—	—
	=	Adjusted net attributable profit (loss)	5,069	2,729	4.270

Net attributable profit (loss) excluding corporate operations for AVR

Explanation of the formula: The results are calculated taking into account the amount of the Group’s recurring results, from which, in 2021, the estimated savings, after tax, resulting from the restructuring process carried out at BBVA S.A., are deducted. In 2020, the goodwill impairment in the United States and the net capital gains from the bancassurance operation with Allianz are adjusted.

Relevance of its use: This metric is commonly used in the banking sector. In addition, it is one of the metrics used for the purposes of the Group’s AVR (Annual Variable Remuneration).

Net attributable profit (loss) excluding corporate operations for AVR

			Jan.-Dec.2021	Jan.-Dec.2020
(Millions of euros)	+	Net attributable profit (loss)	4,653	1,305
(Millions of euros)	—	BBVA USA and the rest of the Companies in the United States sold to PNC adjustments (1)	280	(2,084)
(Millions of euros)	—	Net capital gains from the bancassurance operation	—	304
(Millions of euros)	—	Net cost related to the restructuring process	(696)	—
(Millions of euros)	—	Net savings associated with the restructuring process	41	—
	=	Net attributable profit (loss) excluding corporate operations for AVR	5,028	3,084

(1) Include the results generated by BBVA USA and the rest of the companies in the United States until its sale to PNC on June 1, 2021 for the period January - December 2021 and the goodwill impairment in the United States in the first quarter of 2020 for the period January - December 2020.

ROE

The ROE (return on equity) ratio measures the return obtained on an entity's shareholders' funds plus accumulated other comprehensive income. It is calculated as follows:

Net attributable profit (loss)

Average shareholders' funds+Average accumulated other comprehensive income

Explanation of the formula: The numerator is the net attributable profit (loss) previously defined in these alternative performance measures, If the metric is presented on a date before the close of the fiscal year, the numerator will be annualized.

Average shareholders' funds are the weighted moving average of the shareholders' funds at the end of each month of the period analyzed, adjusted to take into account the execution of the "dividend-option" at the closing dates on which it was agreed to deliver this type of dividend prior to the publication of the Group ́s results.

Average accumulated other comprehensive income is the moving weighted average of "Accumulated other comprehensive income", which is part of the equity on the Entity's balance sheet and is calculated in the same way as average shareholders’ funds (above).

Relevance of its use: This ratio is very commonly used not only in the banking sector but also in other sectors to measure the return obtained on shareholders' funds.

ROE

		Jan.-Dec.2021	Jan.-Dec.2020	Jan.-Dec.2019
Numerator (Millions of euros)	Net attributable profit (loss)	4,653	1,305	3,512
Denominator (Millions of euros)	+ Average shareholder's funds	60,030	57,626	58,888
Denominator (Millions of euros)	+ Average accumulated other comprehensive income	(15,396)	(12,858)	(9,921)
	= ROE	10.4%	2.9%	7.2%

Adjusted ROE

The adjusted ROE (return on equity) ratio measures the return obtained on an entity's shareholders' funds plus accumulated other comprehensive income. It is calculated as follows:

Adjusted net attributable profit (loss)

Average shareholders' funds+Average accumulated other comprehensive income

Explanation of the formula: The numerator is the adjusted net attributable profit (loss) previously defined in these alternative performance measures. If the metric is presented on a date before the close of the fiscal year, the numerator will be annualized.

Average accumulated other comprehensive income is the moving weighted average of "Accumulated other comprehensive income", which is part of the equity on the entity's balance sheet and is calculated in the same way as average shareholders’ funds (above).

Relevance of its use: This ratio is very commonly used not only in the banking sector but also in other sectors to measure the return obtained on shareholders' funds.

Adjusted ROE

		Jan.-Dec.2021	Jan.-Dec.2020	Jan.-Dec.2019
Numerator (Millions of euros)	Adjusted net attributable profit (loss)	5,069	2,729	4,270
Denominator (Millions of euros)	+ Average shareholder's funds	60,030	57,626	58,888
Denominator (Millions of euros)	+ Average accumulated other comprehensive income	(15,396)	(12,858)	(9,921)
	= Adjusted ROE	11.4%	6.1%	8.7%

ROTE

The ROTE (return on tangible equity) ratio measures the return on an entity's shareholders' funds, plus accumulated other comprehensive income, and excluding intangible assets. It is calculated as follows:

Net attributable profit (loss)

Average shareholders' funds+Average accumulated other comprehensive income- Average intangible assets

Explanation of the formula: The numerator "Net attributable profit (loss)" and the items in the denominator "Average intangible assets" and "Average accumulated other comprehensive income" are the same items and are calculated in the same way as explained for ROE.

Average intangible assets are the intangible assets on the balance sheet, including goodwill and other intangible assets. The average balance is calculated in the same way as explained for shareholders funds in ROE.

Relevance of its use: This metric is generally used not only in the banking sector but also in other sectors to measure the return obtained on shareholders' funds, not including intangible assets.

ROTE

		Jan.-Dec.2021	Jan.-Dec.2020	Jan.-Dec.2019
Numerator (Millions of euros)	Net attributable profit (loss)	4,653	1,305	3,512
Denominator (Millions of euros)	+ Average shareholder's funds	60,030	57,626	58,888
	+ Average accumulated other comprehensive income	(15,396)	(12,858)	(9,921)
	- Average intangible assets	2,265	2,480	2,824
	- Average intangible assets from BBVA USA and BBVA Paraguay ⁽¹⁾	897	2,528	5,481
	= ROTE	11.2%	3.3%	8.6%

⁽¹⁾ BBVA Paraguay includes 4 millions of euros as of January-December 2020 and January-December 2019.

Adjusted ROTE

The adjusted ROTE (return on tangible equity) ratio measures the return on an entity's shareholders' funds, plus accumulated other comprehensive income, and excluding intangible assets. It is calculated as follows:

Adjusted net attributable profit (loss)

Average shareholders' funds+ Average accumulated other comprehensive income-Average intangible assets

Average intangible assets are the intangible assets on the balance sheet, excluding the assets from BBVA USA and the rest companies in the United States included in the sale agreement signed with PNC, whose sale took place on June 1, 2021. The average balance is calculated in the same way as explained for shareholders' funds in ROE.

Relevance of its use: This metric is generally used not only in the banking sector but also in other sectors to measure the return obtained on shareholders' funds, not including intangible assets.

Adjusted ROTE

		Jan.-Dec.2021	Jan.-Dec.2020	Jan.-Dec.2019
Numerator (Millions of euros)	Adjusted net attributable profit (loss)	5,069	2,729	4,270
Denominator (Millions of euros)	+ Average shareholder's funds	60,030	57,626	58,888
	+ Average accumulated other comprehensive income	(15,396)	(12,858)	(9,921)
	- Average intangible assets	2,265	2,480	2,824
	- Average intangible assets from BBVA Paraguay	—	4	4
	= Adjusted ROTE	12.0%	6.5%	9.3%

RORC for AVR

The RORC (return on regulatory capital) measures the return on manageable regulatory capital that should be maintained to reach the CET1 fully-loaded target ratio. It is calculated as follows:

Net attributable profit (loss) excluding corporate transactions for AVR

Average assigned regulatory capital

Explanation of the formula: The numerator is the net attributable profit (loss) excluding corporate transactions for AVR, described above. The denominator is the average assigned regulatory capital, defined as the manageable capital that should be held at Group level to reach the CET1 fully-loaded target ratio. If the described metric is presented on a date prior to the end of the year, the numerator will be presented on an annualized basis.

Relevance of its use: This metric is commonly used in the banking sector. In addition, it is one of the metrics used for the purposes of the Group’s AVR (Annual Variable Remuneration).

RORC for AVR

		Jan.-Dec.2021	Jan.-Dec.2020
Numerator (Millions of euros)	= Net attributable profit (loss) excluding corporate transactions for AVR	5,028	3,084
Denominator (Millions of shares)	= Average assigned regulatory capital	35,837	45,621
	= RORC for AVR	14.03%	6,76%

ROA

The ROA (return on assets) ratio measures the return obtained on an entity's assets. It is calculated as follows:

Profit (loss) for the period

Average total assets

Explanation of the formula: The numerator is the profit (loss) for the year, previously defined in these alternative performance measures. If the metric is presented on a date before the close of the fiscal year, the numerator must be annualized.

Average total assets are taken from the Group’s consolidated balance sheet. The average balance is calculated as explained for average shareholders' funds in the ROE.

Relevance of its use: This ratio is generally used not only in the banking sector but also in other sectors to measure the return obtained on assets.

ROA

			Jan.-Dec.2021	Jan.-Dec.2020	Jan.-Dec.2019
Numerator (Millions of euros)	=	Profit (loss) for the year	5,618	2,060	4,345
Denominator (Millions of euros)	=	Average total assets	678,563	727,014	690,622
	=	ROA	0.83%	0.28%	0.63%

Adjusted ROA

The adjusted ROA (return on assets) ratio measures the return obtained on an entity's assets. It is calculated as follows:

Adjusted profit (loss) for the period

Average total assets

Explanation of the formula: The numerator is the adjusted profit (loss) for the year previously defined in these alternative performance measures. If the metric is presented on a date before the close of the fiscal year, the numerator will be annualized.

Average total assets are taken from the Group's consolidated balance sheets, excluding the assets from BBVA and the rest of the companies in the United States sold to PNC on June 1, 2021 for previous years. The average balance is calculated in the same way as explained for average equity in ROE.

Relevance of its use: This ratio is generally used not only in the banking sector but also in other sectors to measure the return obtained on assets.

Adjusted ROA

			Jan.-Dec.2021	Jan.-Dec.2020	Jan.-Dec.2019
Numerator (Millions of euros)	=	Adjusted profit (loss) for the year	6,034	3,485	5,103
Denominator (Millions of euros)	=	Average total assets	640,142	639,943	607,468
	=	Adjusted ROA	0.94%	0.54%	0.84%

RORWA

The RORWA (return on risk-weighted assets) ratio measures the accounting return obtained on average risk-weighted assets. It is calculated as follows:

Profit (loss) for the period

Average risk-weighted assets

Explanation of the formula: The numerator is the profit (loss) for the year previously defined in these alternative performance measures. If the metric is presented on a date before the close of the fiscal year, the numerator will be annualized.

Average risk-weighted assets (RWA) are the moving weighted average of the risk-weighted assets at the end of each month of the period under analysis.

Relevance of its use: This ratio is generally used in the banking sector to measure the return obtained on RWA.

RORWA

			Jan.-Dec.2021	Jan.-Dec.2020	Jan.-Dec.2019
Numerator (Millions of euros)	=	Profit (loss) for the year	5,618	2,060	4,345
Denominator (Millions of euros)	=	Average RWA	324,819	358,675	361,359
	=	RORWA	1.73%	0.57%	1.20%

Adjusted RORWA

The adjusted RORWA (return on risk-weighted assets) ratio measures the return obtained on an entity's assets. It is calculated as follows:

Adjusted profit (loss) for the year

Average risk-weighted assets

Average risk-weighted assets (RWA) are the moving weighted average of the risk-weighted assets at the end of each month of the period under analysis, excluding the RWA from BBVA USA and the rest of the companies in the United States sold to PNC on June 1, 2021.

Relevance of its use: This ratio is generally used not only in the banking sector but also in other sectors to measure the return obtained on assets.

Adjusted RORWA

			Jan.-Dec.2021	Jan.-Dec.2020	Jan.-Dec.2019
Numerator (Millions of euros)	=	Adjusted profit (loss) for the year	6,034	3,485	5,103
Denominator (Millions of euros)	=	Average RWA	300,276	300,518	302,233
	=	Adjusted RORWA	2.01%	1.16%	1.69%

Earning per share

The earning per share is calculated in accordance to the criteria established in the IAS 33 “Earnings per share”.

Earnings (loss) per share

		Jan.-Dec.2021	Jan.-Dec.2020	Jan.-Dec.2019
Numerator (millions of euros)	+ Net attributable profit (loss)	4,653	1,305	3,512
	+ Remuneration related to the Additional Tier 1 securities	359	387	419
	= Net attributable profit (loss) ex.CoCos remuneration	4,293	917	3,093
Denominator (millions)	+ Average number of shares issued	6,668	6,668	6,668
	- Average treasury shares of the period	12	13	20
	- Share buyback program ⁽¹⁾	255	—	—
	= Earnings (loss) per share (euros)	0.67	0.14	0.47

⁽¹⁾ Considering 112 millions shares acquired within the shares buyback program in 2021 and the estimated shares pending from buyback program as of December 31, 2021 of the first tranche approved by the BBVA Board of Directors in October 2021 (€1,500m), in process at the end of the year 2021.

Additionally, for management purposes, earnings per share are presented excluding: (I) the profit after tax from discontinued operations, that is, the results generated by BBVA USA and the rest of the companies in the United States until their sale to PNC on June 1, 2021, for the three broken down periods; (II) the capital gain net of taxes from the bancassurance operation with Allianz registered in the fourth quarter of fiscal year 2020; and (III) the net cost related to the restructuring process recorded in the second quarter of fiscal year 2021.

Adjusted earning (loss) per share

		Jan.-Dec.2021	Jan.-Dec.2020	Jan.-Dec.2019
(Millions of euros)	+ Net attributable profit (loss) ex. CoCos remuneration	4,293	917	3,093
(Millions of euros)	- Discontinued operations	280	(1,729)	(758)
(Millions of euros)	- Corporate operations	—	304	—
(Millions of euros)	- Net cost related to the restructuring process	(696)	—	—
Numerator (millions of euros)	= Net Attributable profit (loss) ex.CoCos and non-recurring impacts	4,709	2,342	3,851
Denominator (millions)	+ Average number of shares issued	6,668	6,668	6,668
Denominator (millions)	- Treasury shares (effective average of the period) ⁽¹⁾	21	13	20
	= Adjusted earning (loss) per share (euros)	0.71	0.35	0.58

⁽¹⁾ Considering 112 millions shares acquired within the shares buyback program in 2021.

Efficiency ratio

This measures the percentage of gross income consumed by an entity's operating expenses. It is calculated as follows:

Operating expenses

Gross income

Explanation of the formula: Both "Operating expenses" and "Gross income" are taken from the Group’s consolidated income statement. Operating expenses are the sum of the administration costs (personnel expenses plus other administrative expenses) plus depreciation. Gross income is the sum of net interest income, net fees and commissions, net trading income dividend income, share of profit or loss of entities accounted for using the equity method, and other operating income and expenses. For a more detailed calculation of this ratio, the graphs on "Results" section of this report should be consulted, one of them with calculations with figures at current exchange rates and another with the data at constant exchange rates.

Relevance of its use: This ratio is generally used in the banking sector. In addition, it is the metric for one of the six Strategic Priorities of the Group.

Efficiency ratio

		Jan.-Dec.2021	Jan.-Dec.2020	Jan.-Dec.2019
Numerator (Millions of euros)	= Operating expenses	9,530	9,088	10,155
Denominator (Millions of euros)	= Gross income	21,066	20,166	21,522
	= Efficiency ratio	45.2%	45.1%	47.2%

Efficiency ratio for AVR

Explanation of the formula: The numerator used to calculate the efficiency ration excludes, In 2021, savings generated by the employee departures subject to the restructuring process since their departure from the BBVA Group, amounting to approximately €58m gross. In 2020, operating expenses and gross income include BBVA USA and the rest of the companies sold to PNC on June 1, 2021.

Relevance of its use: This metric is commonly used in the banking sector. In addition, it is one of the metrics used for the purposes of the Group’s AVR (Annual Variable Remuneration).

Efficiency ratio for AVR

		Jan.-Dec.2021	Jan.-Dec.2020
Numerator (millions of euros)	= Operating expenses	9,587	10,755
Denominator (millions)	= Gross income	21,066	22,974
	= Efficiency ratio for AVR	45.5%	46.8%

Dividend yield

This is the remuneration given to the shareholders in the last twelve calendar months, divided by the closing price for the period. It is calculated as follows:

∑ Dividend per share over the last twelve months

Closing price

Explanation of the formula: The remuneration per share takes into account the gross amounts per share paid out over the last twelve months, both in cash and through the flexible remuneration system called "dividend option".

Relevance of its use: This ratio is generally used by analysts, shareholders and investors for companies that are traded on the stock market. It compares the dividend paid out by a company every year with its market price at a specific date.

Dividend yield

		31-12-21	31-12-20	31-12-19
Numerator (Euros)	∑ Dividends	0.14	0.16	0.26
Denominator (Euros)	Closing price	5.25	4.04	4.98
=	Dividend yield	2.6%	4.0%	5.2%

Book value per share

The book value per share determines the value of a company on its books for each share held. It is calculated as follows:

Shareholders' funds + Accumulated other comprehensive income

Number of shares outstanding - Treasury shares

Explanation of the formula: The figures for both "Shareholders' funds" and "Accumulated other comprehensive income" are taken from the balance sheet. Shareholders' funds are adjusted to take into account the execution of the "dividend-option" at the closing dates on which it was agreed to deliver this type of dividend prior to the publication of the Group ́s results. The denominator includes the final number of outstanding shares excluding own shares (treasury shares) and also excluding the shares corresponding to the first tranche of the share buyback program approved by the BBVA Board of Directors in October 2021. The denominator is also adjusted to include the capital increase resulting from the execution of the dividend options explained above. Both the numerator and the denominator take into account period-end balances.

Relevance of its use: It shows the company's book value for each share issued. It is a generally used ratio, not only in the banking sector but also in others.

Book value per share

		31-12-21	31-12-20	31-12-19
Numerator (Millions of euros)	+ Shareholders' funds	60,383	58,904	58,950
	+ Dividend-option adjustment	—	—	—
	+ Accumulated other comprehensive income	(16,476)	(14,356)	(10,226)
Denominator (Millions of shares)	+ Number of shares issued	6,668	6,668	6,668
	+ Dividend-option	—	—	—
	- Treasury shares	15	14	13
	- Share buyback program ⁽¹⁾	255	—	—
	= Book value per share (euros)	6.86	6.70	7.32

⁽¹⁾ Considering 112 million shares acquired within the share buyback in 2021 and the estimated shares pending from buyback program as of December 31, 2021 of the first tranche approved by the BBVA Board of Directors in October 2021 (€1,500m), in process at the end of the year 2021.

Tangible book value per share

The tangible book value per share determines the value of the company on its books for each share held by shareholders in the event of liquidation. It is calculated as follows:

Shareholders' funds + Accumulated other comprehensive income - Intangible assets

Number of shares outstanding - Treasury shares

Explanation of the formula: The figures for "Shareholders' funds", "Accumulated other comprehensive income" and "Intangible assets" are all taken from the balance sheet. Shareholders' funds are adjusted to take into account the execution of the "Dividend-option" at the closing dates on which it was agreed to deliver this type of dividend prior to the publication of the Group ́s results. The denominator includes the final number of shares outstanding excluding own shares (treasury shares) and also excluding the shares corresponding to the first tranche of the share buyback program approved by the BBVA Board of Directors in October 2021. The denominator is also adjusted to include the result of the capital increase resulting from the execution of the dividend options explained above. Both the numerator and the denominator take into account period-end balances.

Relevance of its use: It shows the company's book value for each share issued, after deducting intangible assets. It is a generally used ratio, not only in the banking sector but also in others.

Tangible book value per share

		31-12-21	31-12-20	31-12-19
Numerator (Millions of euros)	+ Shareholders' funds	60,383	58,904	58,950
	+ Dividend-option adjustment	—	—	—
	+ Accumulated other comprehensive income	(16,476)	(14,356)	(10,226)
	- Intangible assets	2,197	2,345	2,783
	- Intangible assets from BBVA USA and BBVA Paraguay ⁽¹⁾	—	1,952	4,187
Denominator (Millions of shares)	+ Number of shares issued	6,668	6,668	6,668
	+ Dividend-option	—	—	—
	- Treasury shares	15	14	13
	- Share buyback program ⁽²⁾	255	—	—
	= Tangible book value per share (euros)	6.52	6.05	6.27

⁽¹⁾ BBVA Paraguay includes 3 millions of euros as of 31-12-20 and 4 millions as of 31-12-19.

⁽²⁾ Considering 112 million shares acquired within the share buyback in 2021 and the estimated shares pending from buyback program as of December 31, 2021 of the first tranche approved by the BBVA Board of Directors in October 2021 (€1,500m), in process at the end of the year 2021.

Tangible book value per share for AVR

Explanation of the formula: for the purposes of its calculation, and based on the metric "Tangible book value per share" described above, the following items are adjusted in order not to consider the results of non-recurring operations and the estimated net savings of the BBVA restructuring plan in BBVA S.A.

Tangible book value for AVR: both, the net costs and the estimated savings (net of taxes) related to the restructuring process of BBVA S.A. are excluded and the impact of the sale of BBVA USA and the rest of companies in the United States on the tangible book value is also excluded. On the other hand, on the concepts related to the system of remuneration to shareholders, the amounts distributed to them (which include the amounts distributed under the items “Share premium”, as well as the “Interim dividends”) are adjusted. Likewise, the amount executed as of December 31, 2021 (112 million shares acquired for an amount of €569m) corresponding to the first share buyback tranche (€1,500m) approved by the BBVA Board of Directors in October 2021

Relevance of its use: This indicator is commonly used in the banking sector. In addition, it is one of the indicators used for the purposes of the Group’s AVR (Annual Variable Remuneration).

Tangible book value per share for AVR

		31-12-21	31-12-20
Numerator (Millions of euros)	+ Tangible book value for AVR	42,832	40,922
Denominator (Millions of shares)	+ Number of shares issued	6,668	6,668
	+ Dividend-option	—	—
	- Treasury shares	15	14
	- Share buyback program ⁽¹⁾	112	—
	= Tangible book value per share for AVR (euros)	6.55	6.15

(1) Considering 112 million shares acquired within the share buyback program in 2021.

Non-performing loan (NPL) ratio

It is the ratio between the risks classified for accounting purposes as non-performing loans and the total credit risk balance, both excluding the balances from BBVA USA and the rest of the companies in the United States sold to PNC on June 1, 2021. It is calculated as follows:

Non-performing loans

Total credit risk

Explanation of the formula: non-performing loans and the credit risk balance are gross, meaning they are not adjusted by associated accounting provisions.

Non-performing loans are calculated as the sum of “loans and advances at amortized cost” and the “contingent risk” in stage 3³² and the following counterparties:

other financial entities
public sector
non-financial institutions
households

The credit risk balance is calculated as the sum of "Loans and advances at amortized cost" and "Contingent risk" in stage 1 + stage 2 + stage 3 of the previous counterparts.

This indicator is shown, as others, at a business area level.

Relevance of its use: This is one of the main indicators used in the banking sector to monitor the current situation and changes in credit risk quality, and specifically the relationship between risks classified in the accounts as non-performing loans and the total balance of credit risk, with respect to customers and contingent liabilities.

Non-Performing Loans (NPLs) ratio

		31-12-21	31-12-20	31-12-19
Numerator (Millions of euros)	NPLs	15,443	15,451	16,086
Denominator (Millions of euros)	Credit Risk	376,011	366,883	383,700
=	Non-Performing Loans (NPLs) ratio	4.1%	4.2%	4.2%

³² IFRS 9 classifies financial instruments into three stages, which depend on the evolution of their credit risk from the moment of initial recognition. The stage 1 includes operations when they are initially recognized, stage 2 comprises operations for which a significant increase in credit risk has been identified since their initial recognition and,stage 3, impaired operations.

NPL coverage ratio

This ratio reflects the degree to which the impairment of non-performing loans has been covered in the accounts via allowances, excluding assets from BBVA USA and the rest of the companies in the United States sold to PNC on June 1, 2021. It is calculated as follows:

Provisions

Non-performing loans

Explanation of the formula: It is calculated as "Provisions" from stage 1 + stage 2 + stage 3, divided by non-performing loans, formed by “credit risk” from stage 3.

This indicator is shown, as others, at a business area level.

Relevance of its use: This is one of the main indicators used in the banking sector to monitor the situation and changes in the quality of credit risk, reflecting the degree to which the impairment of non-performing loans has been covered in the accounts via value adjustments.

NPL coverage ratio

		31-12-21	31-12-20	31-12-19
Numerator (Millions of euros)	Provisions	11,536	12,595	12,121
Denominator (Millions of euros)	NPLs	15,443	15,451	16,086
=	NPL coverage ratio	75%	82%	75%

Cost of risk

This ratio indicates the current situation and changes in credit-risk quality through the annual cost in terms of impairment losses (accounting loan-loss provisions) of each unit of loans and advances to customers (gross). It excludes the risk attributable to BBVA USA and the rest of the companies in the United States sold to PNC on June 1, 2021. It is calculated as follows:

Loan-loss provisions

Average loans and advances to customers (gross)

Explanation of the formula: "Loans to customers (gross)" refers to the "Loans and advances at amortized cost" portfolios with the following counterparts:

other financial entities
public sector
non-financial institutions
households, excluding central banks and other credit institutions.

Average loans to customers (gross) is calculated by using the average of the period-end balances of each month of the period analyzed plus the previous month. "Annualized loan-loss provisions" are calculated by accumulating and annualizing the loan-loss provisions of each month of the period under analysis.

Loan-loss provisions refer to the aforementioned loans and advances at amortized cost portfolios.

This indicator is shown, as others, at a business area level.

Relevance of its use: This is one of the main indicators used in the banking sector to monitor the situation and changes in the quality of credit risk through the cost over the year.

Cost of risk

		Jan.-Dec.2021	Jan.-Dec.2020	Jan.-Dec.2019
Numerator (Millions of euros)	Loan-loss provisions	3,026	5,160	3,462
Denominator (Millions of euros)	Average loans to customers (gross)	325,013	332,096	332,804
=	Cost of risk	0.93%	1.55%	1.04%

5.2 Compliance tables

Index of contents of Law 11/2018

Non-financial Information Report. Contents index of the Law 11/2018

		Page / Section BBVA's Management Report 2021	GRI reporting criteria	Pages
General information
Business model	Brief description of the group’s business model	NFIS/Strategy	GRI 102-2	6-12
	Brief description of the group’s business model	NFIS/Strategy	GRI 102-7	6-12
	Geographical presence	BBVA in brief/ Who we are	GRI 102-3	2
			GRI 102-4
			GRI 102-6
	Objectives and strategies of the organization	NFIS/Strategy/Strategic Priorities/Our objectives	GRI 102-14	6-12
	Main factors and trends that may affect your future evolution	NFIS/Strategy/Main advances in the execution on the strategy Financial information/Group/Macroeconomic and regulatory environment	GRI 102-15	8-12, 123-127
General	Reporting framework	Non-financial information	GRI 102-54	6
	Principle of materiality	NFIS/Our stakeholders/Materiality analysis: most relevant issues for stakeholders and for BBVA Additional Information/Additional Information on Materiality	GRI 102-46	13-14, 93-97
	Principle of materiality		GRI 102-47	13-14, 93-97
Management approach	Description of the applicable policies	NFIS/Our stakeholders/Customers/Customer security and protection NFIS/Our stakeholders/Employees/People management, Professional development, Work environment, Remuneration, Volunteer work NFIS/Our stakeholders/Society/Community Commitment, Other contributions to society NFIS/Report on climate change and other environmental and social issues Risk management	GRI 103-2	15-18, 21-45, 46-49, 62-65, 69-92, 166-184
	The results of these policies	NFIS/Our stakeholders/Customers/Customer security and protection NFIS/Our stakeholders/Employees/People management, Professional development, Work environment, Remuneration, Volunteer work NFIS/Our stakeholders/Society/Community Commitment, Other contributions to society NFIS/Report on climate change and other environmental and social issues Risk management	GRI 103-2	15-18, 21-45, 46-49, 62-65, 69-92, 166-184
	The main risks related to these issues involving the activities of the group	NFIS/Our stakeholders/Customers/Customer security and protection NFIS/Our stakeholders/Employees/People management, Professional development, Work environment, Remuneration, Volunteer work NFIS/Our stakeholders/Society/Community Commitment, Other contributions to society NFIS/Report on climate change and other environmental and social issues Risk management	GRI 102-15	15-18, 21-45, 46-49, 62-65, 69-92, 166-184
Environmental questions
Environmental management	Detailed information on the current and foreseeable effects of the company's activities on the environment and, where appropriate, health and safety	NFIS/Report on climate change and other environmental and social issue Risk management/General risk management and control mode	GRI 102-15	69-92, 166-173
	Environmental assessment or certification procedures	NFIS/Report on climate change and other environmental and social issues/Management of direct and indirect impacts	GRI 103-2	86-91
	Resources dedicated to the prevention of environmental risks	NFIS/Report on climate change and other environmental and social issues/Sustainable finance	GRI 103-2	71-73
	Application of the precautionary principle	NFIS/Report on climate change and other environmental and social issue Risk management/General risk management and control model	GRI 102-11	69-91, 166-173
	Amount of provisions and guarantees for environmental risks	NFIS/Report on climate change and other environmental and social issues/Sustainable finance	GRI 103-2	71-73
Contamination	Measures to prevent,reduce or repair emissions that seriously affect the environment; taking into account any form of activity-specific air pollution, including noise and light pollution	NFIS/Report on climate environmental and social issues/Sustainable finance	GRI 103-2	71-73
Circular economy and waste prevention and management	Prevention, recycling, reuse, other forms of recovery and types of waste disposal	NFIS/Report on climate change and other environmental and social issues/Management of direct and indirect impacts	GRI 103-2 GRI 306-2 with respect to recycling and reusing	86-91
Circular economy and waste prevention and management	Actions to combat food waste	BBVA Group considers this indicator not to be material	GRI 103-2
Sustainable use of resources	Water consumption and water supply according to local constraints	NFIS/Report on climate change and other environmental and social issues/Management of direct and indirect impacts	GRI 303-5 (2018) with respect total water consumption	86-91
	Use of raw materials and measures taken to improve the efficiency of their utilization	NFIS/Report on climate change and other environmental and social issues/Management of direct and indirect impacts	GRI 301-1 with respect to renewable materials used	86-91
	Energy use, direct and indirect	NFIS/Report on climate change and other environmental and social issues/Management of direct and indirect impacts	GRI 302-1 GRI 302-3	86-91
	Measures taken to improve energy efficiency	NFIS/Report on climate change and other environmental and social issues/Management of direct and indirect impacts	GRI 103-2 GRI 302-4	86-91
	Use of renewable energies	NFIS/Report on climate change and other environmental and social issues/Management of direct and indirect impact	GRI 302-1 with respect to renewable energies consumption	86-91
Climate change	Greenhouse gas emissions generated as a result of the company's activities, including the use of the goods and services it produces	NFIS/Report on climate change and other environmental and social issues	GRI 305-1 GRI 305-2 GRI 305-3 GRI 305-4	62-92
	Measures taken to adapt to the consequences of climate change	NFIS/Report on climate change and other environmental and social issues	GRI 103-2 GRI 201-2	62-92
	Reduction goals established voluntarily in the medium and long term to reduce greenhouse gas emissions and measures implemented for that purpose	NFIS/Report on climate change and other environmental and social issues	GRI 305-5	69-92
Protection of biodiversity	Measures taken to protect or restore biodiversity	The metric describes the size of the protected or restored areas of habitats and BBVA's financial activity, as well as the activity of its offices, has no impact in this regard. This metric and its various breakdowns are currently considered non-material.	GRI 304-3
Protection of biodiversity	Impacts caused by activities or operations in protected areas	The operations centers and / or offices owned, leased or managed by BBVA are located in urban areas, so the impacts of the entity's activities on biodiversity are considered not significant. Although the products and services commercialised can potentially have an impact on it, they are managed according to the regulations and criteria applicable to the nature of the financed activities, and nowadays there are no defined and comparable metrics for their monitoring and reporting in relation with BBVA's value chain. However, the entity undertakes to follow up on regulatory developments regarding biodiversity for future reporting if necessary.	GRI 304-1 GRI 304-2
Social and personnel questions
Employees	Total number and distribution of employees according to country, gender, age, country and professional classification	NFIS/Our stakeholders/Employees/Professional development/Diversity, inclusion and different capacities	GRI 102-8 GRI 405-1	24-35
	Total number and distribution of work contract modalities	NFIS/Our stakeholders/Employees/Professional development/Diversity, inclusion and different capacities	GRI 102-8	24-35
	Annual average of work contract modalities (permanent, temporary and part-time) by sex, age, and professional classification	NFIS/Our stakeholders/Employees/Professional development/Diversity, inclusion and different capacities	GRI 102-8	24-35
	Number of dismissals by sex, age, and professional classification	NFIS/Our stakeholders/Employees/Professional development/ Diversity, inclusion and different capacities	GRI 103-2 GRI 401-1 with respect to staff turn-over by sex, age and country	24-35
	The average remunerations and their evolution disaggregated by sex, age, and professional classification or equal value	NFIS/Our stakeholders/Employees/Remuneration	GRI 103-2 GRI 405-2 with respect to women remuneration compared to men's by professional category	39-44
	The average remuneration of directors and executives, including variable remuneration, allowances, compensation, payment to long-term forecast savings and any other perception broken down by gender	NFIS/Our stakeholders/Employees/Remuneration	GRI 103-2 GRI 405-2 with respect to women remuneration compared to men's by professional category	39-44
	Salary gap	NFIS/Our stakeholders/Employees/Remuneration/Wage gap	GRI 103-2 GRI 405-2 with respect to women remuneration compared to men's by professional category	41-42
	Implementation of work disconnection policies	NFIS/Our stakeholders/Employees/Work environment/Work organization	GRI 103-2	35-36
	Employees with disabilities	NFIS/Our stakeholders/Employees/Professional development/ Diversity, inclusion and different capacities	GRI 405-1	24-35
Work organization	Work schedule organization	NFIS/Our stakeholders/Employees/Work environment/Work organization	GRI 103-2	35-36
	Number of hours of absenteeism	NFIS/Our stakeholders/Employees/Work environment/Occupational health and safety	GRI 403-9	36-39
	Measures designed to facilitate access to mediation resources and encourage the responsible use of these by both parents	NFIS/Our stakeholders/Employees/Work environment/Work organization	GRI 103-2	35-36
Health and safety	Work health and safety conditions	NFIS/Our stakeholders/Employees/Work environment/Occupational health and safety	GRI 103-2 GRI 403-1 GRI 403-2 GRI 403-3 GRI 403-7 (2018)	36-39
	Work accidents, in particular their frequency and severity, disaggregated by gender	NFIS/Our stakeholders/Employees/Work environment/Occupational health and safety	GRI 403-9 (2018) with respect to labor accident injuries	36-39
	Occupational diseases, disaggregated by gender	NFIS/Our stakeholders/Employees/Work environment/Occupational health and safety	GRI 403-10 (2018)with respect to recordable labor injuries	36-39
Social relationships	Organization of social dialog, including procedures to inform and consult staff and negotiate with them	NFIS/Our stakeholders/Employees/Work environment/Freedom of association and representation	GRI 103-2	36
	Percentage of employees covered by collective agreement by country	NFIS/Our stakeholders/Employees/Work environment/Freedom of association and representation	GRI 102-41	36
	The balance of collective agreements, particularly in the field of health and safety at work	NFIS/Our stakeholders/Employees/Work environment/Occupational health and safety	GRI 403-4 (2018)	36-39
Training	Policies implemented for training activities	NFIS/Our stakeholders/Employees/Professional development/Training	GRI 103-2 GRI 404-2	23-24
Training	The total amount of training hours by professional category	NFIS/Our stakeholders/Employees/Professional development/Training	GRI 404-1	23-24
Accessibility	Integration and universal accessibility of people with disabilities	NFIS/Our stakeholders/Employees/Professional development/ Diversity, inclusion and different capacities	GRI 103-2	24-35
Equality	Measures taken to promote equal treatment and opportunities between women and men	NFIS/Our stakeholders/Employees/Professional development/ Diversity, inclusion and different capacities	GRI 103-2	24-35
	Equality plans (Section III of Organic Law 3/2007, of March 22, for effective equality of women and men)	NFIS/Our stakeholders/Employees/Professional development/ Diversity, inclusion and different capacities	GRI 103-2	24-35
	Measures adopted to promote employment, protocols against sexual and sex-based harassment.	NFIS/Our stakeholders/Employees/Professional development/ Diversity, inclusion and different capacities	GRI 103-3	24-35
	Policy against any type of discrimination and, where appropriate, diversity management	NFIS/Our stakeholders/Employees/Professional development/ Diversity, inclusion and different capacities	GRI 103-2	24-35
Information about the respect for human rights
Human rights	Application of due diligence procedures in the field of human rights; prevention of the risks of violation of human rights and, where appropriate, measures to mitigate, manage, and repair possible abuses committed	NFIS/Our stakeholders/Society/Commitment to human rights	GRI 102-16 GRI 102-17 GRI 412-1 GRI 412-2 GRI 412-3	62-65
	Claims regarding cases of human rights violations	NFIS/Our stakeholders/Society/Commitment to human rights	GRI 103-2 GRI 406-1	62-65
	Promotion and compliance with the provisions contained in the related fundamental Conventions of the International Labor Organization with respect for freedom of association and the right to collective bargaining; the elimination of discrimination in employment and occupation; the elimination of forced or compulsory labor; and the effective abolition of child labor	NFIS/Our stakeholders/Employees/Work environment/Freedom of association and representation NFIS/Our stakeholders/Society/Commitment to human rights	GRI 103-2 GRI 407-1 GRI 408-1 GRI 409-1	36, 62-65
Information about anti-bribery and anti-corruption measures
Corruption and bribery	Measures adopted to prevent corruption and bribery	NFIS/Our stakeholders/Society/Compliance	GRI 103-2 GRI 102-16 GRI 102-17 GRI 205-2 GRI 205-3	49-55
	Measures adopted to fight against anti.money laundering	NFIS/Our stakeholders/Society/Compliance	GRI 103-2 GRI 102-16 GRI 102-17 GRI 205-2 GRI 205-3	49-55
	Contributions to fundations and non-profit-making bodies	NFIS/Our stakeholders/Society/Contribution to society	GRI 102-13 GRI 201-1 with respect to community investment	49
Information about the society
Commitment by the company to sustainable development	Impact of the company’s activities on employment and local development	NFIS/Our stakeholders/Society/ Contribution to society NFIS/Report on climate change and other environmental and social issues/Management of direct and indirect impacts/Management of indirect environmental and social impacts/Principals of Ecuador	GRI 103-2 GRI 203-2 with respect to significant indirect economic impacts GRI 204-1	46-49, 90-91
	The impact of company activity on local populations and on the territory	NFIS/Our stakeholders/Society/ Contribution to society NFIS/Report on climate change and other environmental and social issues/Management of direct and indirect impacts/Management of indirect environmental and social impacts/Principals of Ecuador	GRI 413-1 GRI 413-2	46-49, 90-91
	The relationships maintained with representatives of the local communities and the modalities of dialog with these	NFIS/Strategy/Main advances in the execution of the strategy NFIS/Our stakeholders/Materiality analysis: most relevant issues for stakeholders and for BBVA NFIS/Our stakeholders/Employees/Work environment/Freedom of association and representation NFIS/Our stakeholders/Society/Contribution to society	GRI 102-43 GRI 413-1	8-12, 13-14, 36, 46-29
	Actions of association or sponsorship	NFIS/Our stakeholders/Society/Contribution to society	GRI 103-2 GRI 201-1 with respect to investments in the community	46-49
Subcontractors and suppliers	The inclusion of social, gender equality and environmental issues in the purchasing policy	NFIS/Our stakeholders/Society/Suppliers	GRI 103-2	66-68
	Consideration of social and environmental responsibility in relations with suppliers and subcontractors	NFIS/Our stakeholders/Society/Suppliers	GRI 102-9 GRI 308-1 GRI 414-1	66-68
	Supervision systems and audits, and their results	NFIS/Our stakeholders/Society/Suppliers	GRI 102-9 GRI 308-1 GRI 308-2 GRI 414-2	66-68
Consumers	Customer health and safety measures	NFIS/Our stakeholders/Customers/Customer experience NFIS/Our stakeholders/Clients/Customer security and protection NFIS/Our stakeholders/Society/Commitment to Human Rights	GRI 103-2 GRI 416-1	15, 16-18, 62-65
Consumers	Claims systems, complaints received and their resolution	NFIS/Our stakeholders/Clients/Customer care NFIS/Additional information/Additional information on customer complaints	GRI 103-2 GRI 418-1	18-19, 120-121
Tax information	Benefits obtained by country	NFIS/Our stakeholders/Society/Fiscal transparency	GRI 201-1 GRI 207-4 (2019) with respect to tax on corporate profit payed and tax on corporate profit	55-62
	Taxes on paid benefits	NFIS/Our stakeholders/Society/Fiscal transparency	GRI 201-1 GRI 207-4 (2019) with respect to corporate income tax paid and corporate income tax accrued on profit/loss.	55-62
	Public subsidies received	NFIS/Our stakeholders/Society/Fiscal transparency	GRI 201-4	59
	Requirements of the Taxonomy regulation		NFIS/Additional information/Information related to article 8 of the European Taxonomy	97-98

GRI standards content index

General standard disclosures GRI STANDARDS

Indicator		Chapter
Organizational profile
GRI 102	General content
102-1	Name of the organization	BBVA in brief
102-2	Activities, brands, products, and services	BBVA in brief
102-3	Location of headquarters	Consolidated Financial Statements (Note 1)
102-4	Location of operations	BBVA in brief
102-5	Ownership and legal form	Group financial information Annual Corporate Governance Report (Section A) Consolidated Financial Statements (Note 1)
102-6	Markets served	BBVA in brief/Who we are
102-7	Scale of the organization	BBVA in brief Group financial information Business areas
102-8	Information on employees and other workers	NFIS/Our stakeholders/Employees
102-9	Supply chain	NFIS/Our stakeholders/Society/Suppliers
102-10	Significant changes to the organization and its supply chain	NFIS/Our stakeholders/Society/Suppliers Consolidated Financial Statements (Note 3)
102-11	Precautionary principle or approach	Risk management
102-12	External initiatives	NFIS/Strategy/Strategic Priorities, Our Objectives NFIS/Our stakeholders/Society/Commitment to Human Rights NFIS/Report on climate change and other environmental and social issues/Participation in global initiatives Risk management Consolidated Financial Statements (Note 1) Annual Corporate Governance Report
102-13	Membership of associations	NFIS/Our stakeholders/Society/ Compliance NFIS/Our stakeholders/Society/Contribution to society
Strategy
102-14	Statement from senior decision-maker	The non-financial information report is part of the Management Report and the Consolidated Financial Statements, which are prepared by the Board of Directors as responsible social body, in the meeting held on February 9, 2022, and will be subject to approval by the next General Shareholders' Meeting.
102-15	Key impacts, risks, and opportunities	BBVA in brief/Who we are NFIS/Strategy/Strategic Priorities, Our Objectives Risk management
Ethics and Integrity
102-16	Values, principles, standards, and norms of behavior	NFIS/Strategy/Strategic Priorities, Our Objectives NFIS/Our stakeholders/Employees/Culture and values NFIS/Our stakeholders/Society/Commitment to Human Rights
102-17	Mechanisms for advice and concerns about ethics	NFIS/Our stakeholders/Society/Commitment to Human Rights
Governance
102-18	Governance structure	Annual Corporate Governance Report (Section C) NFIS/Report on climate change and other environmental and social issues/Governance model
102-19	Delegating authority	Strategy and business model Annual Corporate Governance Report (Section C)
102-20	Executive-level responsibility for economic, environmental, and social topics	Annual Corporate Governance Report (Section C) NFIS/Report on climate change and other environmental and social issues/Governance model
102-21	Consulting stakeholders on economic, environmental, and social topics	NFIS/Strategy/Strategic Priorities, Our Objectives Annual Corporate Governance Report
102-22	Composition of the highest governance body and its committees	Annual Corporate Governance Report (Section C)
102-23	Chair of the highest governance body	Annual Corporate Governance Report (Section C)
102-24	Nominating and selecting the highest governance body	Annual Corporate Governance Report (Section C)
102-25	Conflicts of interest	Annual Corporate Governance Report (Section C and D)
102-26	Role of highest governance body in setting purpose, values, and strategy	Annual Corporate Governance Report (Section C) NFIS/Report on climate change and other environmental and social issues/Governance model
102-27	Collective knowledge of highest governance body	Annual Corporate Governance Report (Section C) NFIS/Report on climate change and other environmental and social issues/Governance model
102-28	Evaluating the highest governance body’s performance	Annual Corporate Governance Report (Section C)
102-29	Identifying and managing economic, environmental, and social impacts	NFIS/Report on climate change and other environmental and social issues Risk management Annual Corporate Governance Report (Sections C and E)
102-30	Effectiveness of risk management processes	Risk management Annual Corporate Governance Report (Sections C, E)
102-31	Review of economic, environmental, and social topics	NFIS/Report on climate change and other environmental and social issues Risk management Annual Corporate Governance Report (Sections C and E)
102-32	Highest governance body’s role in sustainability reporting	The non-financial information report is part of the Management Report and the Consolidated Financial Statements, which are prepared by the Board of Directors as responsible social body, in the meeting held on the February 9, 2022, and will be subject to approval by the next General Shareholders' Meeting.
102-33	Communicating critical concerns	NFIS/Our stakeholders/Materiality analysis: most relevant issues for stakeholders and for BBVA Annual Corporate Governance Report (Section C)
102-34	Nature and total number of critical concerns	NFIS/Our stakeholders/Materiality analysis: most relevant issues for stakeholders and for BBVA
102-35	Remuneration policies	NFIS/Our stakeholders/Employees/Remuneration Consolidated Financial Statements (Notes 44.1 and 54)
102-36	Process for determining remuneration	NFIS/Our stakeholders/Employees/Remuneration Consolidated Financial Statements (Notes 44.1 and 54)
102-37	Stakeholders’ involvement in remuneration	NFIS/Strategy/Strategic Priorities, Our Objectives NFIS/Our stakeholders/Employees/Remuneration
102-38	Annual total compensation ratio	NFIS/Our stakeholders /Employees/Remuneration/Additional information related to remuneration
102-39	Percentage increase in annual total compensation ratio	NFIS/Our stakeholders /Employees/Remuneration/Additional information related to remuneration
Stakeholder engagement
102-40	List of stakeholder groups	NFIS/Our stakeholders/Materiality analysis: most relevant issues for stakeholders and for BBVA
102-41	Collective bargaining agreements	NFIS/Our stakeholders/Employees/Work environment
102-42	Identifying and selecting stakeholders	NFIS/Our stakeholders/Materiality analysis: most relevant issues for stakeholders and for BBVA
102-43	Approach to stakeholder engagement	NFIS/Our stakeholders/Materiality analysis: most relevant issues for stakeholders and for BBVA
102-44	Key topics and concerns raised	NFIS/Our stakeholders/Materiality analysis: most relevant issues for stakeholders and for BBVA
Report elaboration practices
102-45	Entities included in the consolidated financial statements	Consolidated Financial Statements (Note 3)
102-46	Defining report content and topic Boundaries	Statement of non-financial information NFIS/Our stakeholders/Materiality analysis: most relevant issues for stakeholders and for BBVA NFIS/Additional Information/Additional Information on Materiality Consolidated Financial Statements (Note 1)
102-47	List of material topics	NFIS/Our stakeholders/Materiality analysis: most relevant issues for stakeholders and for BBVA NFIS/Additional Information/Additional Information on Materiality
102-48	Restatements of information	With respect to the financial information, restatements made during 2021 financial year are described in Notes 1 and 3 of the Consolidated Financial Statements. The changes with respect to the non-financial information published in 2020 have been duly indicated through their corresponding footnote in the sections of Employees" within the chapter "Our stakeholders" of the Non-financial information report.
102-49	Changes in reporting	Non financial information report (page 7) NFIS/Our stakeholders/Materiality analysis: most relevant issues for stakeholders and for BBVA NFIS/Additional Information/Additional Information on Materiality Consolidated Financial Statements (Notes 1 and 3)
102-50	Reporting period	Annual. From January 1, 2020 to December 31, 2021.
102-51	Date of most recent report	2020
102-52	Reporting cycle	Annual
102-53	Contact point for questions regarding the report	For contacts regarding sustainability and responsible banking see https://accionistaseinversores.bbva.com/negocio-responsable/contacto/
102-54	Claims of reporting in accordance with the GRI Standards	Non financial information report
102-55	GRI content index	Contents Index of the GRI standards
102-56	External assurance	Independent verification report

Basic specific disclosures GRI STANDARDS

Indicator			Chapter/Section	Scope	Material aspects identified and coverage of the material aspect
ECONOMIC CATEGORY
GRI 103 Management approach	103-1	Explanation of the material topic and its boundary	NFIS/Our stakeholders /Materiality analysis: most relevant issues for stakeholders and for BBVA	Global	Solvency and financial results Climate change: opportunities and risks Employee engagement and talent management Inclusive growth
	103-2	The management approach and its components	Group financial information NFIS/Our stakeholders/ Employees NFIS/Climate change report NFIS/Our stakeholders/Society/ Contribution to society	Global	Solvency and financial results Climate change: opportunities and risks Employee engagement and talent management Inclusive growth
	103-3	Evaluation of the management approach	Group financial information	Global	Solvency and financial results Climate change: opportunities and risks Employee engagement and talent management Inclusive growth
GRI 201 Economic performance	201-1	Direct economic value generated and distributed	The direct economic value generated during the 2021 financial year amounts to €21,233m. The total direct economic value distributed is €10,843m in the same period. As a result, the retained economic value (Direct economic value generated - Total direct economic value distributed) amounts to €10,419m.	Global	Solvency and financial results
	201-2	Financial implications and other risks and opportunities due to climate change	NFIS/Climate change report/Environment	Global	Climate change: opportunities and risks
	201-3	Defined benefit plan obligations and other retirement plans	NFIS/Our stakeholders /Employees/ Remuneration Consolidated Financial Statements (Notes 2.2.12 and 25)	Global	Solvency and financial results
	201-4	Financial assistance received from government	NFIS/Our stakeholders/Society/ Fiscal transparency	Global	Solvency and financial results
GRI 202 Market presence	202-1	Ratios of standard entry level wage by gender compared to local minimum wage	NFIS/Our stakeholders/Employees/ Remuneration>	Global	Employee engagement and talent management
GRI 202 Market presence	202-2	Proportion of senior management hired from the local community	The percentage of management team working in their country of birth in the countries where the Group operates is 95.8%.	Global	Employee engagement and talent management
GRI 203 Indirect economic impacts	203-1	Infrastructure investments and services supported	NFIS/Climate change report NFIS/Our stakeholders /Society/ Contribution to society	Global	Inclusive growth
GRI 203 Indirect economic impacts	203-2	Significant indirect economic impacts	NFIS/Climate change report NFIS/Our stakeholders /Society/ Contribution to society	Global	Inclusive growth
GRI 204 Procurement practices	204-1	Proportion of spending on local suppliers	NFIS/Our stakeholders /Society/Suppliers	Global	Inclusive growth
Anti-corruption
GRI 103 Management approach	103-1	Explanation of the material topic and its boundary	NFIS/Our stakeholders/ Materiality analysis: most relevant issues for stakeholders and for BBVA	Global	Corporate governance and strong management of all risks Business ethics, culture and customer protection Cibersecurity
	103-2	The management approach and its components	NFIS/Our stakeholders/Society/ Compliance NFIS/Our stakeholders/Society/ Contribution to society	Global	Corporate governance and strong management of all risks Business ethics, culture and customer protection Cibersecurity
	103-3	Evaluation of the management approach	NFIS/Our stakeholders/Society/ Compliance NFIS/Our stakeholders/Society/ Contribution to society	Global	Corporate governance and strong management of all risks Business ethics, culture and customer protection Cibersecurity
GRI 205 Anti-corruption	205-1	Operations assessed for risks related to corruption	NFIS/Our stakeholders/Society/ Compliance NFIS/Our stakeholders/Society/ Contribution to society	Global	Corporate governance and strong management of all risks Business ethics, culture and customer protection
	205-2	Communication and training about anti-corruption policies and procedures	NFIS/Our stakeholders/Society/ Compliance	Global	Corporate governance and strong management of all risks Business ethics, culture and customer protection
	205-3	Confirmed incidents of corruption and actions taken	GRI 205-3 a), b) and c) (confirmed cases of corruption and measures taken in them: dismissal and termination of contracts). The information refers to confirmed cases, that is, in which there is a final judgment against one of the banking entities that are members of the BBVA Group as of December 31, 2021, for acts related to corruption (understood as including acts of money laundering according to the definition of the metric), including the firm convictions of a banking entity of the Group as subsidiary civil liability for crimes committed by its employees. Therefore, those cases in which the entity is the victim of the illicit conduct and those in which, by establishing the laws a strict liability system, the Group's banking entity has to be responsible for the amounts subject to fraud are excluded. by a third party to a customer. A final judgment is reported issued in 2021 by the Court of Grande Instance of Paris against Garanti BBVA confirming a previous conviction of the Court of Appeals of Paris in 2017, for infringement of the applicable regulations on money laundering derived from fraud fiscal. Said final sentence amounts to a total amount of €33m, not having entailed payments in the 2021 financial year. It has not resulted in the dismissal of any employee or the termination or non-renewal of contracts with suppliers or customers. GRI 205-3 d) (public and notorious legal cases for alleged acts of corruption and the results of those cases) The information refers to public and notorious cases filed against banking entities that are members of the BBVA Group as of December 31, 2021 or their employees, for alleged acts related to corruption (understood as including acts of money laundering according to the definition of the metric), in which no final judgment has been handed down: (i) a sanction imposed on BBVA, S.A. is reported. for alleged violations of Law 10/2010, of April 28, on the prevention of money laundering and the financing of terrorism, from which a payment of €13.1m has been derived in the 2021 financial year. The resolution is not firm, having filed a contentious-administrative lawsuit against it; (ii) the Spanish judicial authorities are investigating the activities of the company Centro Exclusivo de Negocios y Transacciones, SL (Cenyt). This investigation includes the provision of services to BBVA, S.A. (the bank). In this regard, on July 29, 2019, the Bank was notified of the order of the Central Court of Instruction No. 6 of the National High Court, by which the Bank is declared to be an investigated party in the preliminary proceedings 96/2017 - piece of investigation number 9 for alleged facts that could constitute the crimes of bribery, disclosure of secrets and corruption in business. On February 3, 2020, the Bank was notified of the order of the Central Court of Instruction No. 6 of the National High Court, by which it was agreed to lift the secrecy of the proceedings. Certain directors and employees of the Group, both current and from a previous stage, as well as former directors are also being investigated in relation to this case. The Bank has been collaborating and continues to do so proactively with the judicial authorities, having shared with the justice system the relevant documentation obtained in the internal investigation contracted by the entity in 2019 to contribute to clarifying the facts. As of the date of approval of the Financial Statements, no formal accusation has been made against the Bank for any crime. The aforementioned criminal procedure is in the investigation phase. Therefore, it is not possible at this time to predict its scope or duration or all its possible results or implications for the Group, including potential fines and damage or harm to the Group's reputation.	Global	Corporate governance and strong management of all risks Business ethics, culture and customer protection
Anti-competitive behavior
GRI 103 Management approach	103-1	Explanation of the material topic and its boundary	NFIS/Our stakeholders/Materiality analysis: most relevant issues for stakeholders and for BBVA	Global	Corporate governance and strong management of all risks Business ethics, culture and customer protection
	103-2	The management approach and its components	NFIS/Our stakeholders/Society/ Compliance	Global	Corporate governance and strong management of all risks Business ethics, culture and customer protection
	103-3	Evaluation of the management approach	NFIS/Our stakeholders/Society/ Compliance	Global	Corporate governance and strong management of all risks Business ethics, culture and customer protection
GRI 206 Anti-competitive behavior	206-1	Legal actions for anti-competitive behavior, anti-trust, and monopoly practices	A total number of six judicial and administrative proceedings are reported in progress in the 2021 financial year, in which it is being investigated whether any of the banking entities that are members of the BBVA Group as of December 31, 2021 have participated in alleged collusive agreements or abuses of position of dominance prohibited under the applicable competition regulations, such as the Spanish Law for the Defense of Competition, the competition provisions of the Treaty on the Functioning of the European Union, and equivalent regulations in other countries outside the EU. In relation to these ongoing processes in 2021, a resolution has been issued in which a penalty of less than €1m has been imposed. Said sanction is subject to appeal and, therefore, is not final. The amount of monetary losses incurred in 2021 as a result of the aforementioned processes is less than €1m. Additionally, there is an insignificant number (less than five) of civil proceedings against BBVA, S.A. for alleged infringement of unfair competition regulations, which do not entail payments of any kind ⁽¹⁰⁾	Global	Corporate governance and strong management of all risks Business ethics, culture and customer protection
Tax
GRI 103 Management approach	103-1	Explanation of the material topic and its boundary	NFIS/Our stakeholders/Materiality analysis: most relevant issues for stakeholders and for BBVA	Global	Solvency and financial results
	103-2	The management approach and its components	NFIS/Our stakeholders/Society/Fiscal transparency	Global	Solvency and financial results
	103-3	Evaluation of the management approach	NFIS/Our stakeholders/Society/Fiscal transparency	Global	Solvency and financial results
GRI 207 Tax	207-1	Approach to tax	NFIS/Our stakeholders/Society/Fiscal transparency	Global	Solvency and financial results
	207-2	Tax governance, control, and risk management	NFIS/Our stakeholders/Society/Fiscal transparency	Global	Solvency and financial results
	207-3	Stakeholder engagement and management of concerns related to tax	NFIS/Our stakeholders/Society/Fiscal transparency	Global	Solvency and financial results
	207-4	Country-by-country reporting	NFIS/Our stakeholders/Society/Fiscal transparency Consolidated Financial Statements ( Appendix XIII)	Global	Solvency and financial results
ENVIRONMENTAL CATEGORY
GRI 103 Management approach	103-1	Explanation of the material topic and its boundary	NFIS/Our stakeholders/Materiality analysis: most relevant issues for stakeholders and for BBVA	Global	Climate change: opportunities and risks
	103-2	The management approach and its components	NFIS/Report on climate change and other environmental and social issues/ Management of direct environmental impacts	Global	Climate change: opportunities and risks
	103-3	Evaluation of the management approach	NFIS/Report on climate change and other environmental and social issues/ Management of direct environmental impacts	Global	Climate change: opportunities and risks
Materials
GRI 301 Materials	301-1	Materials used by weight or volume	NFIS/Report on climate change and other environmental and social issues/ Management of direct and indirect environmental impacts/Management of direct environmental impacts, Environmental Footprint Table	Global	Climate change: opportunities and risks
	301-2	Recycled input materials used	76% of the paper used by BBVA for consumption and reported in the Environmental Footprint Table is recycled or environmentally certified in most geographic areas.	Global	Climate change: opportunities and risks
	301-3	Reclaimed products and their packaging materials	Due to the economic activity of BBVA, the only products that could be considered in the report are those coming from the activity of the branches and the restaurants. As the volume of these products is small and the financial activity itself linked to BBVA's business is completely separated from them, this metric is considered non-material.
Energy
GRI 302 Energy	302-1	Energy consumption within the organization	EINF/Report on climate change and other environmental and social issues/ Management of direct and indirect environmental impacts/Management of direct environmental impacts (2), Environmental Footprint Table	Global	Climate change: opportunities and risks
	302-2	Energy consumption outside of the organization	BBVA is working, through the involvement of various areas of the Group, to develop methodologies that allow energy consumption to be measured outside the organization and to be able to report this metric in future years.
	302-3	Energy intensity	NFIS/Report on climate change and other environmental and social issues/ Management of direct and indirect environmental impacts/Management of direct environmental impacts(2), Table Global Eco-efficiency Plan	Global	Climate change: opportunities and risks
	302-4	Reduction of energy consumption	NFIS/Report on climate change and other environmental and social issues/ Management of direct and indirect environmental impacts/Management of direct environmental impacts(2), Table Global Eco-efficiency Plan	Global	Climate change: opportunities and risks
	302-5	Reductions in energy requirements of products and services	Given the nature of the products and services that BBVA sells, it is currently not possible to obtain the information about the reductions of these requirements, according to the defined reporting criteria by the standard. However, the entity reports the reductions in energy consumption inherent to its activity in which it has direct management capacity for the reduction.
Water
GRI 303 Water	303-1	Interactions with water as a shared resource	Due to the economic activity of a financial entity such as BBVA, water consumption is not intensive, being only for use by employees, and for vegetation and air conditioning in some buildings. However, BBVA has installed greywater recycling and rainwater recirculation systems for irrigation at the headquarters in Spain and Mexico, or the installation of dry urinals in some of the buildings in Spain. An analysis is carried out by geographic area (pessimistic 2030 scenario) of the uses through the WRI tool: Aqueduct Projected Water Stress Country Rankings; with a result: - 61.83% of our consumption has a high or extremely high extraction and demand ratio; - 13.74% of our consumption has a medium extraction and demand ratio; - 14.43% of our consumption has a low extraction and demand ratio.	Global	Climate change: opportunities and risks
	303-2	Management of water discharge-related impacts	Due to the fact that the economic activity of a financial entity such as BBVA, whose effluents are those of the activity of its offices and the restoration linked to them, this metric and its different breakdowns are considered non-material due to their low impact. Therefore, the discharges are considered insignificant and comply with the regulations of the areas in which they are made.
	303-3	Water withdrawa	Due to the economic activity of a financial entity such as BBVA, no type of water extraction is carried out in any of its buildings
	303-4	Water discharge	Due to the economic activity of a financial entity such as BBVA, it is considered that the discharge of water is the same as the water consumed
	303-5	Water consumption	NFIS/Report on climate change and other environmental and social issues/ Management of direct and indirect environmental impacts/Management of direct environmental impacts, Environmental Footprint Table, Evolution of the Global Eco-efficiency Plan Indicators Table	Global	Climate change: opportunities and risks
Biodiversity
GRI 304 Biodiversity	304-1	Operational sites owned, leased, managed in, or adjacent to, protected areas and areas of high biodiversity value outside protected areas	The operations centers and / or offices owned, leased or managed by BBVA are located in urban areas far from protected areas or areas of great value for biodiversity. Therefore, it is considered that neither this metric nor its breakdowns are material at present, the entity undertakes to follow-up for its report in the future, if necessary.
	304-2	Significant impacts of activities, products, and services on biodiversity	The operations centers and / or offices owned, leased or managed by BBVA are located in urban areas, so the impacts of the entity's activities on biodiversity are considered not significant. Although the products and services commercialised can potentially have an impact on it, they are managed according to the regulations and criteria applicable to the nature of the financed activities, and nowadays there are no defined and comparable metrics for their monitoring and reporting in relation with BBVA's value chain. However, the entity undertakes to follow up on regulatory developments regarding biodiversity for future reporting if necessary.
	304-3	Habitats protected or restored	The metric describes the size of the protected or restored areas of habitats and BBVA's financial activity, as well as the activity of its offices, has no impact in this regard. This metric and its various breakdowns are currently considered non- material.
	304-4	Total number of IUCN Red List species and national conservation list species with habitats in areas affected by operations, by level of extinction risk.	The total number of species that appear on the IUCN Red List and national conservation lists, whose habitats are in areas affected by the organization's operations, by level of extinction risk (critically endangered, endangered, vulnerable , near threatened and of concern less); it is not material, since BBVA's financial activity, as well as the activity of its offices, does not have an impact in this regard. Therefore, this metric and its various breakdowns are currently considered non-material.
Emissions
GRI 305 Emissions	305-1	Direct (Scope 1) GHG emissions	NFIS/Report on climate change and other environmental and social issues/ Management of direct and indirect environmental impacts/Management of direct environmental impacts, Environmental Footprint Table, Evolution of the Global Eco-efficiency Plan Indicators Table. In addition to the published data on Scope 1 emissions in tCO2e, the breakdown by other types of GHG is: - CO2: 23,324.64 t CO2 - CH4: 52.64 t CH4 - N2O: 58.55 t N2O Emissions from refrigerant gases are not included in this breakdown. The emission factors used have been calculated based on the emission factors of the 2006 IPCC Guidelines for National Greenhouse Gas Inventories.	Global	Climate change: opportunities and risk
	305-2	Energy indirect (Scope 2) GHG emissions	NFIS/Report on climate change and other environmental and social issues/ Management of direct and indirect environmental impacts/Management of direct environmental impacts, Environmental Footprint Table, Evolution of the Global Eco-efficiency Plan Indicators Table. In addition to the published data on Scope 2 emissions in tCO2e, the breakdown by other types of GHG is: MARKET-BASED: - CO2: 43,743.29 t CO2 - CH4: 39.97 t CH4 - N2O: 92.15 t N2O LOCATION-BASED: - CO2: 206,590.15 t CO2 - CH4: 172.98 t CH4 - N2O: 562.52 t N2O The emission factors used are calculated based on contractual data and, failing that, on the latest emission factors available from the IEA for each country.	Global	Climate change: opportunities and risks
	305-3	Other indirect (Scope 3) GHG emissions	NFIS/Report on climate change and other environmental and social issues/ Management of direct and indirect environmental impacts/Management of direct environmental impacts, Environmental Footprint Table, Evolution of the Global Eco-efficiency Plan Indicators Table(2)(4) In addition to the published data on Scope 3 emissions in tCO2e, the breakdown by other types of GHG is: - CO2: 2,673.50 t CO2 - CH4: 0.29t CH4 - N2O: 13.41 t N2O Emissions from waste management or employee travel are not included in this breakdown. the emission factors used are those published by DEFRA in 2021	Global	Climate change: opportunities and risks
	305-4	GHG emissions intensity	NFIS/Additional Information/Contribution to the Sustainable Development Goals/ Impact metrics	Global	Climate change: opportunities and risks
	305-5	Reduction of GHG emissions	NFIS/Report on climate change and other environmental and social issues/ Management of direct and indirect environmental impacts/Management of direct environmental impacts, Environmental Footprint Table, Evolution of Global Eco-efficiency Plan Indicators Table(2)	Global	Climate change: opportunities and risks
	305-6	Emissions of ozone-depleting substances (ODS)	This metric includes ODS production, imports and exports in metric tons of CFC 11 (trichlorofluoromethane) equivalent and standards, methodologies, etc. necessary for its calculation. Since BBVA's economic activity is that of a financial institution, no substances that deplete the ozone layer are produced or exported and/or imported.
	305-7	Nitrogen oxides (NOX), sulfur oxides (SOX), and other significant air emissions	BBVA's emissions of other types of pollutants into the atmosphere are: - NOx: 17,077.55 t NOx - SOx: 2,593.25 tSOx These data only consider the emissions due to the use of fuels in the installations of BBVA buildings. The factors used are those published by the European Environmental Agency: "EMEP/EEA air pollutant emission inventory guidebook 2019" for the "Commercial / institutional: stationary" sector, typology "Tier 1" for each type of fuel.	Global	Climate change: opportunities and risk
GRI 306 Waste	306-1	Waste generation and significant waste-related impact	NFIS/Report on climate change and other environmental and social issues/ Management of direct and indirect environmental impacts/Management of direct environmental impacts, Environmental Footprint Table, Evolution of the Global Eco-efficiency Plan Indicators Table	Global	Climate change: opportunities and risk
	306-2	Management of significant waste-related impacts	NFIS/Report on climate change and other environmental and social issues/ Management of direct and indirect environmental impacts/Management of direct environmental impacts, Environmental Footprint Table, Evolution of the Global Eco-efficiency Plan Indicators Table	Global	Climate change: opportunities andrisk
	306-3	Waste generated	NFIS/Report on climate change and other environmental and social issues/ Management of direct and indirect environmental impacts/Management of direct environmental impacts, Environmental Footprint Table, Evolution of the Global Eco-efficiency Plan Indicators Table	Global	Climate change: opportunities and risk
	306-4	Waste diverted from disposal	NFIS/Report on climate change and other environmental and social issues/ Management of direct and indirect environmental impacts/Management of direct environmental impacts, Environmental Footprint Table, Evolution of the Global Eco-efficiency Plan Indicators Table	Global	Climate change: opportunities and risk
	306-5	Waste directed to disposal	NFIS/Report on climate change and other environmental and social issues/ Management of direct and indirect environmental impacts/Management of direct environmental impacts, Environmental Footprint Table, Evolution of the Global Eco-efficiency Plan Indicators Table	Global	Climate change: opportunities and risk
Environmental compliance
GRI 103 Management approach	103-1	Explanation of the material topic and its boundary	NFIS/Our stakeholders/Materiality analysis: most relevant issues for stakeholders and for BBVA	Global	Climate change: opportunities and risks Business ethics, culture and customer protection
	103-2	The management approach and its components	NFIS/Report on climate change and other environmental and social issues/ Management of risks associated with climate change, Management of direct and indirect impacts	Global	Climate change: opportunities and risks Business ethics, culture and customer protection
	103-3	Evaluation of the management approach	NFIS/Report on climate change and other environmental and social issues/ Management of risks associated with climate change, Management of direct and indirect impacts	Global	Climate change: opportunities and risks Business ethics, culture and customer protection
GRI 307 Environmental compliance	307-1	Non-compliance with environmental laws and regulations	BBVA Group has no fines or penalties for non-compliance with regulations related to significant environmental aspects.	Global	Climate change: opportunities and risks Business ethics, culture and customer protection
GRI 308 Supplier Environmental Assessment	308-1	New suppliers that were screened using environmental criteri	BBVA considers that the negative environmental impacts of its supply chain are not material and, therefore, neither is the evaluation of suppliers in this area. However, the Group has started an analysis process to determine how to adapt its procurement processes to collect more information on environmental issues from its suppliers
GRI 308 Supplier Environmental Assessment	308-2	Negative environmental impacts in the supply chain and actions taken	BBVA considers that the negative environmental impacts of its supply chain are not material. However, the Group has started an analysis process to determine how to adapt its procurement processes to collect more information on environmental issues from its suppliers.
SOCIAL DIMENSION
Labor practices and decent work
Employment
GRI 103 Management approach	103-1	Explanation of the material topic and its boundary	NFIS/Our stakeholders/Materiality analysis: most relevant issues for stakeholders and for BBVA	Global	Employee engagement and talent management COVID-19 management
	103-2	The management approach and its components	NFIS/Our stakeholders/Employees/Work environment/Work organization	Global	Employee engagement and talent management COVID-19 management
	103-3	Evaluation of the management approach	NFIS/Our stakeholders/Employees	Global	Employee engagement and talent management COVID-19 management
GRI 401 Employment	401-1	New employee hires and employee turnover	NFIS/Our stakeholders/Employees/ Professional development	Global	Employee engagement and talent management
	401-2	Social benefits provided to full-time employees that are not provided to temporary or part-time employees	Due to the low percentage of employees with part-time and temporary contracts of BBVA in the period of the year, this metric and its breakdown are considered non- material; since the conditions and benefits received by employees are regulated by collective agreements, social agreements and other tools that guarantee fair treatment and adequate conditions to the particular characteristics of the contracts established with employees. However, the entity will monitor this metric to ensure that its annual report adjusts to the situation for the period	Global
	401-3	Parental leave	NFIS/Our stakeholders/Employees/Work environment/Work organization	Global	Employee engagement and talent management Diversity and work-life balance
Labor/Management relations
GRI 103 Management approach	103-1	Explanation of the material topic and its boundary	NFIS/Our stakeholders/Materiality analysis: most relevant issues for stakeholders and for BBVA	Global	Employee engagement and talent management
	103-2	The management approach and its components	NFIS/Our stakeholders/Employees	Global	Employee engagement and talent management
	103-3	Evaluation of the management approach	NFIS/Our stakeholders/Employees	Global	Employee engagement and talent management
GRI 402 Labor/Management relations	402-1	Minimum notice periods regarding operational changes	The organizational changes in BBVA Group are analyzed on a case-by-case basis, so the negative impact on employees can be avoided or mitigated, and always within the legal provisions of each country.	Global	Employee engagement and talent management
Occupational health and safety
GRI 103 Management approach	103-1	Explanation of the material topic and its coverage	NFIS/Our stakeholders/Materiality analysis: most relevant issues for stakeholders and for BBVA	Global	Employee engagement and talent management COVID-19 management
	103-2	The management approach and its components	NFIS/Our stakeholders/Employees/Work environment/Occupational health and safety	Global	Employee engagement and talent management COVID-19 management
	103-3	Evaluation of the management approach	NFIS/Our stakeholders/Employees/Work environment/Occupational health and safety	Global	Employee engagement and talent management COVID-19 management
GRI 403 Occupational health and safety	403-1	Workers representation in formal joint management–worker health and safety committees	NFIS/Our stakeholders/Employees/Work environment	Global	Employee engagement and talent management
	403-2	Hazard identification, risk assessment, and incident investigation	NFIS/Our stakeholders/Employees/Work environment	Global	Employee engagement and talent management COVID-19 management
	403-3	Occupational health services	NFIS/Our stakeholders/Employees/Work environment/Occupational health and safety	Global	Employee engagement and talent management COVID-19 management
	403-4	Health and safety topics covered in formal agreements with trade unions	NFIS/Our stakeholders/Employees/Work environment/Occupational health and safety	Global	Employee engagement and talent management COVID-19 management
	403-5	Worker training on occupational health and safety	NFIS/Our stakeholders/Employees/Work environment/Occupational health and safety	Global	Employee engagement and talent management COVID-19 management
	403-6	Promotion of worker health	NFIS/Our stakeholders/Employees/Work environment/Occupational health and safety	Global	Employee engagement and talent management COVID-19 management
	403-7	Prevention and mitigation of occupational health and safety impacts directly linked by business relationships	NFIS/Our stakeholders/Employees/Work environment/Occupational health and safety	Global	Employee engagement and talent management COVID-19 management
	403-8	Workers covered by an occupational health and safety management system	NFIS/Our stakeholders/Employees/Work environment/Occupational health and safety	Global	Employee engagement and talent management
	403-9	Work-related injuries	NFIS/Our stakeholders/Employees/Work environment/Occupational health and safety	Spain	Employee engagement and talent management
	403-10	Work-related ill health	NFIS/Our stakeholders/Employees/Work environment/Occupational health and safety Given the nature of BBVA's activity, no high risk of serious diseases related to the workers' occupation has been identified	Spain	Employee engagement and talent management
Training
GRI 103 Management approach	103-1	Explanation of the material topic and its boundary	NFIS/Our stakeholders/Materiality analysis: most relevant issues for stakeholders and for BBVA NFIS/Additional Information/Additional Information on Materiality	Global	Employee engagement and talent management
	103-2	The management approach and its components	The best and most engaged team/ Professional development	Global	Employee engagement and talent management
	103-3	Evaluation of the management approach	The best and most engaged team/ Professional development	Global	Employee engagement and talent management
GRI 404 Training and education	404-1	Average hours of training per year per employee	NFIS/Our stakeholders/Employees/ Professional development	Global	Employee engagement and talent management
	404-2	Programs for upgrading employee skills and transition assistance programs	NFIS/Our stakeholders/Employees/ Professional development	Global	Employee engagement and talent management
	404-3	Percentage of employees receiving regular performance and career development reviews	NFIS/Our stakeholders/Employees/ Professional development	Global	Employee engagement and talent management
Diversity and equal opportunity
GRI 103 Management approach	103-1	Explanation of the material topic and its boundary	NFIS/Our stakeholders/Materiality analysis: most relevant issues for stakeholders and for BBVA NFIS/Additional Information/Additional Information on Materiality	Global	Employee engagement and talent management
	103-2	The management approach and its components	NFIS/Our stakeholders/Employees/ Professional development	Global	Employee engagement and talent management
	103-3	Evaluation of the management approach	NFIS/Our stakeholders/Employees/ Professional development	Global	Employee engagement and talent management
GRI 405 Diversity and equal opportunity	405-1	Diversity of governance bodies and employees	NFIS/Our stakeholders/Employees/ Professional development Annual Corporate Governance Report (section C) The age groups are reported according to the ranges of < 25 years / between 25 and 45 years / > 45 years	Global	Diversity and work-life balance
GRI 405 Diversity and equal opportunity	405-2	Ratio of basic salary and remuneration of women to men	NFiS/Our stakeholders/Employees/ Remuneration	Global	Diversity and work-life balance
Human rights
GRI 103 Management approach	103-1	Explanation of the material topic and its boundary	NFIS/Our stakeholders/Materiality analysis: most relevant issues for stakeholders and for BBVA NFIS/Additional Information/Additional Information on Materiality/td>	Global	Human rights Business ethics and customer protection
	103-2	The management approach and its components	NFIS/Our stakeholders/Society/ Commitment to Human Rights NFIS/Report on climate change and other environmental and social issues/ Environment/Management of indirect environmental impacts/Equator Principles NFIS/Our stakeholders/Society/Suppliers	Global	Human rights Business ethics and customer protection
	103-3	Evaluation of the management approach	NFIS/Our stakeholders/Society/ Commitment to Human Rights NFIS/Report on climate change and other environmental and social issues/ Environment/Management of indirect environmental impacts/Equator Principles	Global	Human rights Business ethics and customer protection
GRI 406 Non-discrimination	406-1	Incidents of discrimination and corrective actions taken.	During the 2021 financial year, the sexual or moral harassment protocol that would be activated in the event that an employee files a complaint through the channels established for this purpose has not been activated.	Global	Human rights
GRI 407 Freedom of association and collective bargaining	407-1	Operations and suppliers in which the right to freedom of association and collective bargaining may be at risk	BBVA has not identified any operations or suppliers as having significant risk related to freedom of association and collective bargaining.	Global	Human rights
GRI 408 Child labor	408-1	Operations and suppliers at significant risk for incidents of child labor	BBVA has not identified any operations or suppliers as having significat risk related to child labor.	Global	Human rights
GRI 409 Forced or compulsory labor	409-1	Operations and suppliers at significant risk for incidents of forced or compulsory labor	BBVA has not identified any operations or suppliers as having significat risk related to forced or compulsory labor.	Global	Human rights
GRI 410 Security practices	410-1	Security personnel trained in human rights policies or procedures	In most of the geographic areas where BBVA operates, national legislation requires that security guards must have specific official qualifications or trainings whose agendas, in many cases, include elements directly related to the respect of the human rights. At BBVA, security personnel is a 100% a outsourced service. In 2021, the evaluation procedure was strengthened in order to carry out a periodic analysis and control at the BBVA Group facilities with a focus on potential misuse of force. This procedure was one of the improvement plans that emerged from the Human Rights Due Diligence Plan carried out in 2021.	Global	Human rights
GRI 411 Rights of indigenous peoples	411-1	Incidents of violations involving rights of indigenous peoples	BBVA has reinforced due diligence procedures associated with the financing of projects whose development affects indigenous peoples. When this circumstance happens, the free, prior and informed consent (FPIC) of these peoples must be obtained regardless of the geographic location of the project. What it means to expand the current requirement of PEs to all the countries in which the Group operates. In 2021, a total of 42 operations have been evaluated.	Global	Human rights
GRI 412 Human rights assessment	412-1	Operations that have been subject to human rights reviews or impact assessments	BBVA has not identified any significant impacts with respect to human rights in its workplaces.	Global	Human rights
	412-2	Employee training on human rights policies or procedures	During the 2021 financial year, 39 employees from different geographical areas have taken specific Human Rights courses that the Group makes available to its employees. In addition, more than 180 employees from across the Group have participated in some of the basic training and awareness sessions within the framework of the human rights due diligence process.	Global	Business ethics, culture and customer protection Human rights
	412-3	Significant investment agreements and contracts that include human rights clauses or that underwent human rights screening	NFIS/Our stakeholders/Society/ Commitment to Human Rights NFIS/Our stakeholders/Society/Suppliers (6)	Global	Business ethics, culture and customer protection Human rights
Society
GRI 103 Management approach	103-1	Explanation of the material topic and its boundary	NFIS/Our stakeholders/Materiality analysis: most relevant issues for stakeholders and for BBVA NFIS/Additional Information/Additional Information on Materiality	Global	Inclusive growth Business ethics, culture and customer protection
	103-2	The management approach and its components	NFIS/Our stakeholders/Customers NFIS/Our stakeholders/Society/ Contribution to society	Global	Inclusive growth Business ethics, culture and customer protection
	103-3	Evaluation of the management approach	NFIS/Our stakeholders/Customers NFIS/Our stakeholders/Society/ Compliance NFIS/Our stakeholders/Society/ Contribution to society	Global	Inclusive growth Business ethics, culture and customer protection
GRI 413 Local communities	413-1	Operations with local community engagement, impact assessments, and development programs	NFIS/Our stakeholders/Society/ Contribution to society	Global	Inclusive growth
GRI 413 Local communities	413-2	Operations with significant actual and potential negative impacts on local communities.	BBVA provides information on the most relevant social and environmental impacts and the management applied to investment projects financed and advised by the bank within the framework of the Equator Principles at https:// accionistaseinversores.bbva.com/ sostenibilidad-y-banca- responsible/ principles-and-policies-2/financing- responsible-projects.	Global	Inclusive growth
GRI 414 Supplier Social Assessment	414-1	New suppliers that were screened using social criteria	NFIS/Our stakeholders/Suppliers	Global	Inclusive growth
GRI 414 Supplier Social Assessment	414-2	Negative social impacts in the supply chain and actions taken	NFIS/Our stakeholders/Suppliers	Global	Inclusive growth
GRI 415 Public policy	415-1	Total value of political contributions by country and recipient/beneficiary.	BBVA's policy in countries does not allow contributions of this type NFIS/Our stakeholders/Society/ Compliance NFIS/Our stakeholders/Society/ Contribution to society	Global	Business ethics, culture and customer protection
Product responsibility
GRI 103 Management approach	103-1	Explanation of the material topic and its boundary	NFIS/Our stakeholders/Materiality analysis: most relevant issues for stakeholders and for BBVA NFIS/Additional Information/Additional Information on Materiality	Global	Business ethics, culture and customer protection Financial health and personalized advice to clients COVID-19 management
	103-2	The management approach and its components	NFIS/Our stakeholders/Customers	Global	Business ethics, culture and customer protection Financial health and personalized advice to clients COVID-19 management
	103-3	Evaluation of the management approach	NFIS/Our stakeholders/Customers	Global	Business ethics, culture and customer protection Financial health and personalized advice to clients COVID-19 management
GRI 416 Customer health and safety	416-1	Assessment of the health and safety impacts of product and service categories.	Due to the characteristics of BBVA's economic activity as a financial entity and of the products and services offered, the evaluation of the impacts on health and safety of the product categories and services is not material.
GRI 416 Customer health and safety	416-2	Incidents of non-compliance concerning the health and safety impacts of products and services	Due to the characteristics of BBVA's economic activity as a financial entity and the products and services it offers, there are no cases of non-compliance regarding the impacts on health and safety of the categories of products and services that give rise to fines or sanctions, warnings or non-compliance with voluntary codes. Therefore, this metric is not material.
Labeling of products and services
GRI 103 Management approach	103-1	Explanation of the material topic and its boundary	NFIS/Our stakeholders/Materiality analysis: most relevant issues for stakeholders and for BBVA	Global	Responsible use of data Business ethics, culture and customer protection Cybersecurity
	103-2	The management approach and its components	NFIS/Our stakeholders/Customers/ Customer service NFIS/Our stakeholders/Society/ Compliance Consolidated Financial Statements(Note34)	Global	Responsible use of data Business ethics, culture and customer protection Cybersecurity
	103-3	Evaluation of the management approach	NFIS/Our stakeholders/Customers/ Customer service NFIS/Our stakeholders/Society/ Compliance Consolidated Financial Statements(Note 24)	Global	Responsible use of data Business ethics, culture and customer protection Cybersecurity
GRI 417 Labeling of products and services	417-1	Requirements for product and service information and labeling	The Product Governance Policy establishes the principles to be observed in order to serve the interests of customers throughout the product life cycle. The Product Governance and Operational Risk Admission Committee evaluates, among others, the information and labeling requirements of the products prior to their launch. For further details on other measures or lines of action promoted by BBVA in the field of information and labeling of products and services, see the section "Clients" within the chapter "Our stakeholders" of this report ⁽⁷⁾.	Global	Simplicity, agility and self-service for customers Financial health and personalized advice to clients Ethical behavior, culture and protection of clients
	417-2	Incidents of non-compliance concerning product and service information and labeling	In fiscal year 2021, the following are identified ⁽⁸⁾: – Two fines imposed on BBVA, S.A., for a total amount of €6m, for non-compliance with Royal Decree Law 6/2012, of urgent measures for the protection of mortgage debtors. The amount of the two fines has been paid and provisioned. The sanctions are being appealed through contentious-administrative proceedings. – Warning and a penalty of €90 thousand imposed on BBVA Colombia by the Financial Superintendence of Colombia for the alleged non-compliance with the provisions related to the obligation to maintain in the branch network information related to packages of products and/or services free of charge and regarding the regulation of collections for operations that were failed for reasons beyond the control of the bank. An appeal has been filed. The amount of the fine is provisioned pending the final pronouncement of the supervisor. – A fine of €7.2m imposed on Garanti BBVA by the Provincial Directorate of Commerce for non-compliance with Law 6502 on consumer credit. The amount of the penalty was paid in 2021 with a 25% discount (€5.4m). The entity requested the restructuring of the fine in September 2021 and 50% of the amount paid was returned in the last quarter of the year.	Global	Simplicity, agility and self-service for customers Financial health and personalized advice to clients Ethical behavior, culture and protection of clients
	417-3	Incidents of non-compliance concerning marketing communications	In 2021, no fines, sanctions or warnings have been identified by the supervisory bodies with a public nature to the entities of the BBVA Group as of December 31, as a result of non-compliance with regulations or voluntary codes related to marketing communications ⁽⁹⁾.	Global	Simplicity, agility and self-service for customers Financial health and personalized advice to clients Ethical behavior, culture and protection of clients
Client privacy
GRI 103 Management approach	103-1	Explanation of the material topic and its boundary	NFIS/Our stakeholders/Materiality analysis: most relevant issues for stakeholders and for BBVA NFIS/Additional Information/Additional Information on Materiality	Global	Responsable use of data Business ethics, culture and customer protection Cibersecurity
	103-2	The management approach and its components	NFIS/Our stakeholders/Customers/ Customers security and protection NFIS/Our stakeholders/Society/ Compliance Consolidated Financial Statements (Note 24)	Global	Responsable use of data Business ethics, culture and customer protection Cibersecurity
	103-3	Evaluation of the management approach	NFIS/Our stakeholders/Customers/ Customers security and protection NFIS/Our stakeholders/Society/ Compliance Consolidated Financial Statements (Note 24)	Global	Responsable use of data Business ethics, culture and customer protection Cibersecurity
GRI 418 Client privacy	418-1	Substantiated complaints concerning breaches of customer privacy and losses of customer data	Substantiated claims information is included in: NFIS/Our stakeholders/Customers/ Customer service, Security and customer protection Information related to judicial and administrative proceedings is included in: SASB CF 220a.2 "Total amount of monetary losses as a result of legal proceedings related to customer privacy"	Global	Responsable use of data Business ethics, culture and customer protection Cibersecurity
Socioeconomic compliance
GRI 103 Management approach	103-1	Explanation of the material topic and its boundary	NFIS/Our stakeholders/Materiality analysis: most relevant issues for stakeholders and for BBVA NFIS/Additional Information/Additional Information on Materiality	Global	Business ethics, culture and customer protection
	103-2	The management approach and its components	NFIS/Our stakeholders/Customers/ Customer service, Security and customer protection NFIS/Our stakeholders/Society/ Compliance Consolidated Financial Statements (Note 24)	Global	Business ethics, culture and customer protection
	103-3	Evaluation of the management approach	NFIS/Our stakeholders/Customers/ Customer service, Security and customer protection NFIS/Our stakeholders/Society/ Compliance Consolidated Financial Statements (Note 24)	Global	Business ethics, culture and customer protection
GRI 419 Regulatory compliance	419-1	Non-compliance with laws and regulations in the social and economic area	A materiality criterion per process of €1m is included. For the purposes of determining the socioeconomic breaches related to corruption (including bribery, fraud, money laundering and other concepts included in the definition of corruption provided for in the GRI 205-3 metric), please refer to the information included in the GRI 205-3 metric. For issues related to competition, please refer to the information included in the GRI 206 metric. For the purposes of determining socioeconomic breaches related to the provision of products and services, only administrative sanctions have been considered (in relation to judicial decisions issued in civil proceedings, please see SASB CF 270 a.5 and MF 270 a.3 metrics "Total amount of monetary losses resulting from legal proceedings related to the sale and maintenance of the products" and "Total amount of monetary losses resulting from legal proceedings related to communications to customers or the remuneration of credit originators. loans") imposed on banking entities that are part of the BBVA Group as of December 31, 2021, which exceed the materiality threshold per process, for alleged infractions of the following types of regulations: (i) Regulations on abusive clauses, such as Directive 93/13, on abusive clauses in contracts concluded with consumers and Royal Legislative Decree 1/2007, which approves the consolidated text of the General Law for Defense of Consumers and Users, and equivalent regulations outside the EU. There are no administrative sanctions observed in the 2021 financial year for the aforementioned concepts imposed on banking entities that are part of the BBVA Group as of December 31, 2021 that exceed the materiality threshold by process. (ii) Regulations regarding good practices used in credit operations granted to customers. For these purposes, please see the GRI 417-2 metric. For general information on labor and tax aspects, see the “Employees” and “Fiscal Transparency” sections within the “Our Stakeholders” chapter.	Global	Business ethics, culture and customer protection

(1) No breakdown by geographical area

(2) The limitations on the scope of the indicator, the perimeter and the criteria followed in the estimates are detailed in the table referenced. The intensity indicators have been calculated according to the number of occupants of the buildings, understanding as such the sum of the average workforce and the estimation of the third parties that work in the Bank's facilities

(3) The consumption of the branches network has been estimated from a limited sample of offices.

(4) In relation to business trips, only the emissions derived from the plane and train trips of Group employees are reported.

(5) It is only reported on operations analyzed in relation to compliance with the Equator Principles.

(6) The information regards employees trained in the Code of Conduct

(7) The information refers to the systematized approval processes to which the products that the entities of the BBVA Group manufacture or distribute as of December 31, 2021, as well as other measures or lines of action promoted by said entities in the field of information transparency.

(8) The information refers to the number of warnings and/or sanctioning proceedings of a public nature, in progress or completed, that the supervisory bodies have indicated during the financial year to some of the entities of the BBVA Group as of December 31, 2021 as consequence of breaches of regulations or voluntary codes related to the information provided to customers and/or the labeling of products and services. For the purposes of reporting the amount of penalties in euros, the fixed rate at 31/12/2021 is applied as the exchange rate.

(8) The information regards BBVA corporate policy

(9) The information refers to the number of warnings and/or sanctioning proceedings of a public nature, in progress or completed, that the supervisory bodies have indicated during the financial year to some of the entities of the BBVA Group as of December 31, 2021 as a result of breaches of regulations or voluntary codes related to marketing communications. For the purposes of reporting the amount of penalties in euros, the fixed rate at 31/12/2021 is applied as the exchange rate.

(10) The concept of "monetary losses" includes the amounts paid, provisionally or definitively (without defense expenses), by the entity in question, during the year 2021. The Fixing Rate at 31/12 is applied as the exchange rate /2021

Index of contents of the Principles of Responsible Banking UNEP FI

UNEPFI Principles for Responsible Banking reporting Index

Reporting and Self-Assessment Requirements	High-level summary of bank’s response (limited assurance required for responses to highlighted items)	Reference(s)/ Link(s) to bank’s full response/ relevant information
Principle 1: Alignment We will align our business strategy to be consistent with and contribute to individuals’ needs and society’s goals, as expressed in the Sustainable Development Goals, the Paris Climate Agreement and relevant national and regional frameworks.
1.1 Describe (high-level) your bank's business model, including the main customer segments served, types of products and services provided, the main sectors and types of activities, and where relevant the technologies financed across the main geographies in which your bank has operations or provides products and services.	BBVA is a global financial group with a leading position in the Spanish market, is the largest financial institution in Mexico and has leading franchises in South America and Turkey. At 2021 year-end, BBVA had: 662 billion in assets, 81.7 million customers, 6,083 branches and a presence in more than 25 countries. BBVA primarily focuses its business on retail banking, business banking and Corporate & Investment Banking activities.	See section "BBVA in brief. Who we are"
1.2 Describe how your bank has aligned and/or is planning to align its strategy to be consistent with and contribute to society's goals, as expressed in the Sustainable Development Goals (SDGs), the Paris Climate Agreement, and relevant national and regional frameworks.	In 2018 BBVA published its "Pledge 2025" based on 3 lines of action: - mobilize up to €100 billion (increased to €200 billion in 2021) to curb climate change and achieve the Sustainable Development Goals; - manage direct and indirect environmental and social risks; and - involve all stakeholders to collectively drive the financial sector's contribution to sustainable development. In 2019 BBVA incorporated sustainability as one of its 6 strategic priorities at a global level for its alignment with the Paris Agreement and the Sustainable Development Goals, placing sustainability at the center of its business strategy.	See section "Strategy"
Principle 2: Impact and Target Setting We will continuously increase our positive impacts while reducing the negative impacts on, and managing the risks to, people and environment resulting from our activities, products and services. To this end, we will set and publish targets where we can have the most significant impacts.
2.1 Impact Analysis: Show that your bank has identified the areas in which it has its most significant (potential) positive and negative impact through an impact analysis that fulfills the following elements: a) Scope: The bank’s core business areas, products/services across the main geographies that the bank operates in have been as described under 1.1. have been considered in the scope of the analysis. b) Scale of Exposure: In identifying its areas of most significant impact the bank has considered where its core business/its major activities lie in terms of industries, technologies and geographies. c) Context & Relevance: Your bank has taken into account the most relevant challenges and priorities related to sustainable development in the countries/regions in which it operates. d) Scale and intensity/salience of impact: In identifying its areas of most significant impact, the bank has considered the scale and intensity/salience of the (potential) social, economic and environmental impacts resulting from the bank’s activities and provision of products and services. (your bank should have engaged with relevant stakeholders to help inform your analysis under elements c) and d)) Show that building on this analysis, the bank has: • Identified and disclosed its areas of most significant (potential) positive and negative impact • Identified strategic business opportunities in relation to the increase of positive impacts / reduction of negative impacts.	BBVA has prioritized sectors or areas where its financing activity has a greater positive and negative impact (see Section 2.2.). For the most relevant impacts, BBVA has established objectives (detailed in Section 1.2 above) which are monitored on a recurring basis. The impact analysis took the following into account: (i) The main business areas: Retail Banking, Business Banking and Corporate & Investment Banking. (ii) The level of exposure to sectors and countries in which it operates and the most relevant market challenges and priorities. (iii) The importance of the social, economic and environmental impacts identified as a result of the bank's activities I. Areas with the greatest positive impact. Climate action: with a focus on energy efficiency (SDG 7), the circular economy (SDG 12) and the reduction of CO ₂emissions (SDG 13). 2. Inclusive growth: specifically in Economic growth (SDG 8) and Industry, innovation and infrastructure (SDG 9) with business initiatives on financial inclusion, entrepreneurship support and sustainable infrastructure. II. Areas with the greatest negative impact. BBVA has identified negative impacts and risks through processes including: - Its Environmental and Social Framework where sectors with a greater environmental and social impact are identified (mining, agribusiness, energy, infrastructure and defense) for which BBVA has established project-level and customer-level prohibitions. - Equator Principles for project finance in which BBVA participates - Human Rights due diligence process for all BBVA areas. - Identification and assessment of sectors sensitive to transition risk, quantification of exposure to carbon-sensitive sectors and setting of portfolio alignment targets in 4 CO₂ intensive sectors.	See sections "Contribution to the Sustainable Development Goals" and "Management of direct and indirect impacts" See Task Force Report on Climate-Relates Financial 2021: https:// accionistaseinversores.bbva. com/wp-content/ uploads/2021/06/Informe- TCFD-Dic20_esp.pdf
Please provide your bank’s conclusion/statement if it has fulfilled the requirements regarding Target Setting. BBVA has established specific, measurable (quantifiable), attainable, relevant and time-bound (SMART) objectives, in line with science and the more ambitious objectives from the Paris Agreement, which cover at least two of the identified "areas of more significant impact" resulting from the bank's activities and the provision of products and services: climate action and inclusive growth
2.2 Target Setting Show that the bank has set and published a minimum of two Specific, Measurable (can be qualitative or quantitative), Achievable, Relevant and Time-bound (SMART) targets, which address at least two of the identified “areas of most significant impact”, resulting from the bank’s activities and provision of products and services. Show that these targets are linked to and drive alignment with and greater contribution to appropriate Sustainable Development Goals, the goals of the Paris Agreement, and other relevant international, national or regional frameworks. The bank should have identified a baseline (assessed against a particular year) and have set targets against this baseline. Show that the bank has analysed and acknowledged significant (potential) negative impacts of the set targets on other dimensions of the SDG/climate change/society’s goals and that it has set out relevant actions to mitigate those as far as feasible to maximize the net positive impact of the set targets.	1. Within the "Pledge 2025" framework, in 2018 BBVA published the following objectives: (i) Mobilize €100 billion between 2018-2025 allocated to green finance, sustainable infrastructure and agribusiness, financial inclusion and entrepreneurship and other sustainable finance. This target was doubled to €200 billion in 2021; (ii) Reduce its direct CO₂ emissions by 68% (compared to 2015) and (iii) Procure 70% renewable energy from 2025 onwards and 100% renewable energy by 2030. In 2021, BBVA published the following targets: 2. Community Commitment 2025 to address the most important social challenges in each region: €550 million investment and 100 million people reached (5 million entrepreneurs, 3 million people with quality education and 1 million people trained in financial literacy). Moreover, the BBVA Microfinance Foundation will deliver more than €7 billion in microcredits. In total, these programs will reach 100 million people in that period. 3. Net Zero emissions in 2050, expanding our initial ambition of alignment to the Paris Agreement 3.1. BBVA has published its commitment to phase out coal by 2030 in developed countries and 2040 in developing countries. 3.2. BBVA has joined the Net Zero Banking Alliance initiative and BBVA Asset Management has joined Net Zeri Asset Managers Initiative 3.3. BBVA has set 2030 alignment targets in 4 of the most CO₂- intensive sectors: power generation, cars, steel and cement. On the other hand, the Human Rights due diligence process has been updated in 2021. Within this framework, a list of issues with potential negative impacts has been identified and evaluated, and action plans have been designed to mitigate or minimize them. Said process has been carried out in accordance with the United Nations Guiding Principles on Business and Human Rights.	See sections "Strategy", "Report on climate change and other environmental and social issues" and "Contribution to society"
Please provide your bank’s conclusion/statement if it has fulfilled the requirements regarding Target Setting. BBVA has established specific, measurable (quantifiable), attainable, relevant and time-bound (SMART) objectives, in line with science and the more ambitious objectives from the Paris Agreement, which cover at least two of the identified "areas of more significant impact" resulting from the bank's activities and the provision of products and services: climate action and inclusive growth.
2.3 Plans for Target Implementation and Monitoring Show that your bank has defined actions and milestones to meet the set targets. Show that your bank has put in place the means to measure and monitor progress against the set targets. Definitions of key performance indicators, any changes in these definitions, and any rebasing of baselines should be transparent.	Actions and milestones to meet the objectives a.- BBVA is incorporating sustainability into its plans for retail banking, business banking and Corporate & Investment Banking through working groups charged with promoting the development of products and services b.- BBVA has integrated the risk of sustainability into its processes, both physical and transitional, and has an environmental and social framework c.- BBVA has established a single agenda with stakeholder groups and has joined the Net Zero Banking Alliance and the Partnership for Carbon Accounting Financials (PCAF) d.- BBVA is developing new skills in the sustainability field (training and data) Measuring progress toward the established objectives 1. Quarterly monitoring the objectives related to mobilizing sustainable finance (€200 billion), broken down by geographic location and business area. 2. Quarterly monitoring of the objective related to the 2025 Community Commitment (€550 million and 100 million beneficiaries) broken down by focus area. 3. Annual monitoring of the 2030-2040-2050 portfolio alignment objectives.	See sections "Strategy", "Report on climate change and other environmental and social issues" and "Contribution to society"
Please provide your bank’s conclusion/statement if it has fulfilled the requirements regarding Plans for Target Implementation and Monitoring. BBVA periodically monitors the targets set
2.4 Progress on Implementing Targets For each target separately: Show that your bank has implemented the actions it had previously defined to meet the set target. Or explain why actions could not be implemented / needed to be changed and how your bank is adapting its plan to meet its set target. Report on your bank’s progress over the last 12 months (up to 18 months in your first reporting after becoming a signatory) towards achieving each of the set targets and the impact your progress resulted in. (where feasible and appropriate, banks should include quantitative disclosures)	1. Regarding the 2025 objective to mobilize sustainable finance, by the end of 2021, BBVA had surpassed 85.8 billion euros originated in sustainable finance, representing 43% of the €200 billion pledge between 2018 and 2025. Furthermore, BBVA managed to reduce its direct CO₂ emissions by 67,5% from 2015, and 79% of the energy contracted by BBVA comes from renewable sources. 2. In terms of the 2025 Community Commitment, at the end of 2021, BBVA had invested 106,3 million euros, benefiting 44.2 million people. 3. The 2030-2040-2050 portfolio alignment commitments were set for the end of 2021. Therefore they will report on their progress in the following years	See sections "Strategy", "Report on climate change and other environmental and social issues" and "Contribution to society"
Please provide your bank’s conclusion/statement if it has fulfilled the requirements regarding Progress on Implementing Targets. The bank shows clear progress in the objectives within its "2025 Pledge" framework, having doubled its objective in 2025. New objectives have also been published in other areas of action: Community Commitment, carbon phase out objective and portfolio alignment.
Principle 3: Clients and Customers We will work responsibly with our clients and our customers to encourage sustainable practices and enable economic activities that create shared prosperity for current and future generations.
3.1 Provide an overview of the policies and practices your bank has in place and/or is planning to put in place to promote responsible relationships with its customers. This should include high-level information on any programmes and actions implemented (and/or planned), their scale and, where possible, the results thereof.	With sustainability and financial health being 2 of BBVA's 6 strategic priorities from 2019, in 2020, the Board approved: a. The General Sustainability Policy, based on supporting customers in their transition to sustainable business models. b. The update of the Corporate Social Responsibility Policy, with the aim of maintaining a relationship with customers based on "transparency, clarity and responsibility", in addition to promoting the drive to develop products and services to improve the financial health of customers, promoting financial inclusion and education with responsible access to financial services. c. Furthermore, BBVA has a framework for sustainable transactional products, a framework for the issuance of SDG-linked bonds, an environmental and social framework, and a human rights commitment d. It also has an Environmental and Social Framework that prohibits the financing of certain activities and projects e. It also has a sustainable financing standard in line with European taxonomy and market best practices. These policies and frameworks are global in scale and applicable to all regions.	See sections "Strategy", "Report on climate change and other environmental and social issues", "Contribution to society", "Contribution to the Sustainable Development Goals" "Additional information on the Group's sustainability standards and frameworks" and "Our stakeholders"
3.2 Describe how your bank has worked with and/or is planning to work with its clients and customers to encourage sustainable practices and enable sustainable economic activities. This should include information on actions planned/implemented, products and services developed, and, where possible, the impacts achieved.	In 2021, one of the main lines of action was the development of sustainable solutions in BBVA's 3 main lines of business: A. Sustainable solutions for retail customers: a carbon footprint calculator and a sustainable alternative for all its products in Spain. Green Car Loan, Efficient Home Mortgage, Energy Efficiency Loan for the home, various sustainable investment products, financing of machinery and efficient irrigation systems in the agribusiness sector, social mortgage in Peru and Colombia, and financing for female entrepreneurs in Turkey and micro-entrepreneurs in Latin America through the BBVA Microfinance Foundation. B. Sustainable solutions for Wholesale Clients (Corporate, Institutional and Business): issuance of BBVA green and social bonds, intermediation of green and social bonds for our clients, sustainable corporate loans, financing of sustainable projects (renewable energies, self-supply and energy efficiency, sustainable mobility, agricultural activity, financing of projects related to health, telecommunications and sustainable infrastructures. C. ESG Advisory service to assist global customers in their transition to a sustainable future. This service is global in scale and open to all business sectors. The ESG Advisory model is supported by external expertise on which the Bank builds its commercial service model. In this sense, key strategic alliances are being developed to generate a support ecosystem for the sustainable transition of companies. The impacts achieved are detailed in Section 2.4 below.	See sections "Report on climate change and other environmental and social issues", " Integration of ESG aspects in the relationship with clients"
Principle 4: Stakeholders We will proactively and responsibly consult, engage and partner with relevant stakeholders to achieve society’s goals.
4.1 Describe which stakeholders (or groups/types of stakeholders) your bank has consulted, engaged, collaborated or partnered with for the purpose of implementing these Principles and improving your bank’s impacts. This should include a high-level overview of how your bank has identified relevant stakeholders and what issues were addressed/results achieved.	BBVA includes the concerns of its stakeholders (customers, employees, shareholders and investors, suppliers, regulators and supervisors and society in general) into its businesses and activities, including social and environmental issues, diversity, fiscal responsibility, respect for human rights and the prevention of corruption and other illegal conduct. BBVA has actively participated in numerous initiatives, always in close collaboration with all stakeholders. These initiatives revolve around the following priority areas: 1. Universal frameworks of reference: BBVA was one of the founding banks and promoters of the Principles of Responsible Banking and the Collective Commitment to financial health and inclusion. 2. Alignment with the Paris Agreement: BBVA adhered to the Collective Commitment to Climate Action and the Net Zero Banking Alliance promoted by UNEP FI, the Science Based Target Initiative and participates in the Alliance of CEO Climate Leaders of the World Economic Forum (WEF), and the Partnership for Carbon Accounting Financials (PCAF). 3. Market Standards, with a role as promoter of the Equator Principles, Green Bond Principles, Social Bonds Principles, Green Loan Principles and other similar standards developed by the industry itself, as well as the EU Taxonomy. 4. Transparency: BBVA has been following the TCFD recommendations of the Financial Stability Board since 2017. 5. Financial regulation: BBVA participates in numerous consultation processes and in different activities with regulatory and supervisory bodies to promote sustainable finance regulation. BBVA is a member of UNEP FI, Co-Chair of its Global Steering Committee representing the European Banks and a member of its Leadership Council. BBVA is Chair of the Sustainable Finance Expert Group of the European Banking Federation (EBF).	See sections "Our stakeholders", "Report on climate change and other environmental and social issues"
Principle 5: Governance & Culture We will implement our commitment to these Principles through effective governance and a culture of responsible banking
5.1 Describe the relevant governance structures, policies and procedures your bank has in place/is planning to put in place to manage significant positive and negative (potential) impacts and support effective implementation of the Principles.	The BBVA Board of Directors has a long track record in monitoring the evolution and main impacts of sustainable development and the fight against climate change, having gained special relevance in recent years, especially since 2019, when BBVA conducted a reflection on strategic priorities. There was a special involvement of the corporate bodies, and specifically of the Board and the Executive Committee, which participated directly in the drafting and approval of the Group's new strategic plan and defined a process for monitoring its implementation and development, through measures such as holding specific strategy-focused meetings, and the implementation of the strategic plan through KPIs established for this purpose. The Board of Directors defines, promotes and monitors the sustainability and climate change strategy and supervises the application of the Sustainability Policy. In 2021, and continuing the momentum given by the Global Sustainability Office created in March 2020, the Global Sustainability area was created with the aim of giving a definitive boost to BBVA. This area designs the strategic sustainability agenda and drives the lines of work in this area of the different global and transformation units (Risks, Finance, Talent and Culture, Data, Engineering and Organization, among others) and develops new sustainable products. The area is part of the highest executive level of the organization, and reports to the CEO and Chairman, given the highly strategic and transformational nature of the area.	See sections "Strategy", "Report on climate change and other environmental and social issues"
5.2 Describe the initiatives and measures your bank has implemented or is planning to implement to foster a culture of responsible banking among its employees. This should include a high-level overview of capacity building, inclusion in remuneration structures and performance management and leadership communication, amongst others.	In relation to capacity building, in 2020, BBVA launched a sustainability training offer for more than 110,000 employees worldwide. A key part of this offer is a basic sustainability course, which is compulsory for all teams and includes basic content on these principles. A financial health course was also launched for all Group employees. This training program was supplemented in 2021 with additional, non-basic training, with a level-based training pathway, up to expert level. Likewise, collaboration agreements have been reached with prestigious universities, whereby BBVA Group employees have taken first-level Master's degree programs in the area of sustainability knowledge. In relation to remuneration structures, in 2021 a sustainability-related indicator (Origination of sustainable financing, "Pledge 2025") has been incorporated into the remuneration system for all employees: 1. An ESG (Environmental, Social, Governance) metric has been incorporated into the variable remuneration scheme for executive directors with a specific weighting of 10%, which reinforces the commitment of both the Chairman and the CEO to ensure that BBVA achieves its sustainable development objectives, in line with the Bank's strategic priority of "Helping customers transition to a sustainable future". 2. Regarding all other employees, variable remuneration is associated with the degree of achievement of previously established objectives, both financial and non-financial. Within the non-financial indicators, since 2021 the new sustainability indicator (Origination of sustainable financing) has also been incorporated into the corporate variable remuneration model that applies to all employees.	See section "Our stakeholders. Employees"
5.3 Governance Structure for Implementation of the Principles Show that your bank has a governance structure in place for the implementation of the PRB, including: : a) target-setting and actions to achieve targets set . b) remedial action in the event of targets or milestones not being achieved or unexpected negative impacts being detected.	Within the framework of the new Global Sustainability area created in 2021, and previously within the framework of the Global Sustainability Office, the different working groups that promote sustainability in the BBVA Group report recurrently to the CEO and Chairman on the progress of their actions and monitor their indicators. The monitoring model includes specific lines of action, KPIs for measuring progress as well as blocking points with their consequent mitigating or unblocking measures. Specifically, the implementation of these Principles of Responsible Banking is integrated into the "Sustainability Public Engagement" working group of the new sustainability area, which continually tracks the public commitments undertaken by BBVA.	See section "Report on climate change and other environmental and social issues"
Please provide your bank’s conclusion/ statement if it has fulfilled the requirements regarding Governance Structure for Implementation of the Principles: The Board of Directors defines, promotes and monitors the sustainability and climate change strategy. With the establishment of a new Global Sustainability Area, reporting to the CEO and also to the Chairman, BBVA has reinforced its governance structure in order to ensure full compliance with these Principles.
Principle 6: Transparency & Accountability We will periodically review our individual and collective implementation of these Principles and be transparent about and accountable for our positive and negative impacts and our contribution to society’s goals.
6.1 Progress on Implementing the Principles for Responsible Banking Show that your bank has progressed on implementing the six Principles over the last 12 months (up to 18 months in your first reporting after becoming a signatory) in addition to the setting and implementation of targets in minimum two areas (see 2.1-2.4). Show that your bank has considered existing and emerging international/regional good practices relevant for the implementation of the six Principles for Responsible Banking. Based on this, it has defined priorities and ambitions to align with good practice. Show that your bank has implemented/is working on implementing changes in existing practices to reflect and be in line with existing and emerging international/regional good practices and has made progress on its implementation of these Principles.	"The above sections describe the implementation progress in 2021, which is reflected in the publication of: - new targets in 2021, - the update of the Human Rights due diligence process and - the creation of a Global Sustainability area that reports directly to the CEO and Chairman in order to give a definitive boost to sustainability. In accordance with the recommendations of the Financial Stability Board, BBVA has published regular reports on climate change risks and opportunities in accordance with the Task Force on Climate Financial Disclosures (TCFD) standard. BBVA is committed to the consistent, reliable and standardized disclosure of key environmental, social and governance issues related to its business. Among the different existing standards, BBVA includes its non- financial information in the Statement of Non-Financial Information. In addition to the GRI, BBVA publishes progress in ESG disclosures in accordance with two of the most advanced standards in the market: Measuring Stakeholder Capitalism of the International Business Council (IBC) and the World Economic Forum (WEF) and the Sustainability Accounting Standards Board (SASB). Together with the European Banking Federation and UNEPFI, BBVA has participated in the creation of reports on the application of the European Union Taxonomy on banking products. BBVA's progress in the implementation of these principles will be published annually as part of the BBVA Group's Annual Report. Additionally, the subsidiaries BBVA Argentina, BBVA Garanti (Turkey) and BBVA Mexico, as signatories of the Principles for Responsible Banking at local level, will include their progress report in their annual reports."	See sections "Report on climate change and other environmental and social issues", "Our stakeholders". "Commitment to human rights" and "Alignment of BBVA Group's non-financial information to WEF-IBC and SASB standards" See Task Force Report on Climate-Relates Financial 2021: https:// accionistaseinversores.bbva. com/wp-content/ uploads/2021/06/Informe- TCFD-Dic20_esp.pd
Please provide your bank’s conclusion/statement if it has fulfilled the requirements regarding Progress on Implementing the Principles for Responsible Banking: BBVA has continued to reinforce transparency with the publication of its second TCFD report, SASB metrics and WEF/IBC Stakeholder Capitalism Metrics, as well as its portfolio alignment objectives. It has also doubled its target for the origination of sustainable finance, and has published new targets related to the decarbonisation of its portfolio. Finally, it has completed its goals with the publication of objectives related to its commitment to the community.