APPENDIX I. Additional information on subsidiaries and structured entities composing the BBVA Group as of December 31, 2021
APPENDIX II. Additional information on investments joint ventures and associates in the BBVA Group as of December 31, 2021
APPENDIX III. Changes and notifications of participations in the BBVA Group in 2021
APPENDIX IV. Fully consolidated subsidiaries with more than 10% owned by non-Group shareholders as of December 31, 2021
APPENDIX V. BBVA Group’s structured entities in 2021. Securitization funds
APPENDIX VI. Details of the outstanding subordinated debt and preferred securities issued by the Bank or entities in the Group consolidated as of December 31, 2021, 2020 and 2019
APPENDIX VII Consolidated balance sheets held in foreign currency as of December 31, 2021, 2020 and 2019
APPENDIX VIII. Consolidated income statements for the first and second half of 2021 and 2020
. Financial Statements of Banco Bilbao Vizcaya Argentaria, S.A.
APPENDIX X. Information on data derived from the special accounting registry and other information bonds
APPENDIX XI. Quantitative information on refinancing and restructuring operations and other requirement under Bank of Spain Circular 6/2012
APPENDIX XII. Additional information on risk concentration
APPENDIX XIII. Information in accordance with article 89 of Directive 2013/36/EU of the European Parliament and its application to Spanish Law through Law 10/2014

Appendices

APPENDIX I. Additional information on subsidiaries and structured entities composing the BBVA Group as of December 31, 2022

			% share of participation ⁽¹⁾			Millions of Euros ⁽²⁾
			% share of participation ⁽¹⁾			Affiliate entity data
Company	Location	Activity	Direct	Indirect	Total	Net carrying amount	Equity excluding profit (loss) 31.12.2022	Profit (loss) 31.12.2022
ACTIVOS MACORP SL	SPAIN	REAL ESTATE	50.64	49.36	100.00	3	3	—
ADQUIRA MEXICO SA DE CV	MEXICO	SERVICES	—	100.00	100.00	8	5	3
ALCALA 120 PROMOC. Y GEST.IMMOB. S.L.	SPAIN	REAL ESTATE	—	100.00	100.00	18	17	2
ANIDA GRUPO INMOBILIARIO SL	SPAIN	INVESTMENT COMPANY	100.00	—	100.00	1,194	1,189	12
ANIDA INMOBILIARIA, S.A. DE C.V.	MEXICO	INVESTMENT COMPANY	—	100.00	100.00	37	36	2
ANIDA OPERACIONES SINGULARES, S.A.	SPAIN	REAL ESTATE	—	100.00	100.00	1,142	1,128	14
ANIDA PROYECTOS INMOBILIARIOS, S.A. DE C.V.	MEXICO	REAL ESTATE	—	100.00	100.00	25	25	—
ANIDAPORT INVESTIMENTOS IMOBILIARIOS, UNIPESSOAL, LTDA	PORTUGAL	REAL ESTATE	—	100.00	100.00	24	17	(1)
ANTHEMIS BBVA VENTURE PARTNERSHIP LLP	UNITED KINGDOM	INVESTMENT COMPANY	—	100.00	100.00	11	9	7
APLICA NEXTGEN OPERADORA S.A. DE C.V.	MEXICO	SERVICES	—	100.00	100.00	—	—	—
APLICA NEXTGEN SERVICIOS S.A. DE C.V	MEXICO	SERVICES	—	100.00	100.00	1	1	—
ARRAHONA IMMO, S.L.	SPAIN	REAL ESTATE	—	100.00	100.00	53	114	—
ARRAHONA NEXUS, S.L.	SPAIN	REAL ESTATE	—	100.00	100.00	56	62	—
ARRELS CT FINSOL, S.A.	SPAIN	REAL ESTATE	—	100.00	100.00	59	75	—
ARRELS CT PATRIMONI I PROJECTES, S.A.	SPAIN	REAL ESTATE	—	100.00	100.00	22	22	—
ARRELS CT PROMOU SA	SPAIN	REAL ESTATE	—	100.00	100.00	17	25	(1)
BAHIA SUR RESORT S.C.	SPAIN	INACTIVE	99.95	—	99.95	—	—	—
BANCO BBVA ARGENTINA S.A.	ARGENTINA	BANKING	39.97	26.59	66.55	158	671	925
BANCO BBVA PERÚ SA ⁽³⁾	PERU	BANKING	—	46.12	46.12	1,278	2,300	474
BANCO BILBAO VIZCAYA ARGENTARIA URUGUAY SA	URUGUAY	BANKING	100.00	—	100.00	110	221	29
BANCO OCCIDENTAL SA	SPAIN	BANKING	49.43	50.57	100.00	17	18	—
BANCO PROVINCIAL OVERSEAS NV	CURAÇAO	BANKING	—	100.00	100.00	44	42	2
BANCO PROVINCIAL SA - BANCO UNIVERSAL	VENEZUELA	BANKING	1.46	53.75	55.21	46	208	7
BBV AMERICA SL	SPAIN	INVESTMENT COMPANY	99.80	0.20	100.00	—	581	31
BBVA (SUIZA) SA	SWITZERLAND	BANKING	100.00	—	100.00	114	139	7
BBVA AGENCIA DE SEGUROS COLOMBIA LTDA	COLOMBIA	INSURANCES SERVICES	—	100.00	100.00	—	—	—
BBVA AI FACTORY SL	SPAIN	SERVICES	—	100.00	100.00	6	4	—
BBVA ASSET MANAGEMENT ARGENTINA SAU SOCIEDAD GERENTE DE FONDOS COMUNES DE INVERSIÓN	ARGENTINA	INVESTMENT FUND MANAGEMENT	—	100.00	100.00	20	—	20
BBVA ASSET MANAGEMENT MEXICO SA DE CV, SOC.OPERADORA DE FONDOS DE INVERSION, GRUPO FRO. BBVA MEXICO	MEXICO	INVESTMENT FUND MANAGEMENT	—	100.00	100.00	36	23	13
BBVA ASSET MANAGEMENT SA SAF	PERU	INVESTMENT FUND MANAGEMENT	—	100.00	100.00	7	5	2
BBVA ASSET MANAGEMENT SA SGIIC	SPAIN	INVESTMENT FUND MANAGEMENT	100.00	—	100.00	36	(80)	116
BBVA ASSET MANAGEMENT SA SOCIEDAD FIDUCIARIA (BBVA FIDUCIARIA)	COLOMBIA	INVESTMENT FUND MANAGEMENT	—	100.00	100.00	20	15	5
BBVA AXIAL TECH SA DE CV	MEXICO	SERVICES	100.00	—	100.00	192	249	15
BBVA BOLSA SOCIEDAD AGENTE DE BOLSA S.A.	PERU	SECURITIES DEALER	—	100.00	100.00	5	4	1
BBVA BRASIL BANCO DE INVESTIMENTO SA	BRAZIL	BANKING	100.00	—	100.00	16	20	—
BBVA BROKER ARGENTINA SA	ARGENTINA	INSURANCES SERVICES	—	99.96	99.96	—	2	9
BBVA BROKER CORREDURIA DE SEGUROS Y REASEGUROS SA	SPAIN	FINANCIAL SERVICES	99.94	0.06	100.00	—	2	7

(1) In accordance with Article 3 of Royal Decree 1159/2010, of September 17, in order to determine the state, the voting power relating to subsidiaries was added to the voting power directly held by the parent. Therefore, the number of votes corresponding to the parent company (including indirect control subsidiaries), corresponds to each subsidiary holding a direct ownership interest.

(2) Amount without considering the interim dividends of the year, according to the provisional financial statements of each company, generally as of December 31, 2022. In the carrying amount (net of provision and hedge in foreign operations), the Group´s ownership percentage has been applied, without considering the impairment of goodwill. Information on foreign companies at exchange rate as of December 31, 2022. The data of the companies in Turkey and Argentina are prior to the application of hyperinflation accounting.

(3) Full consolidation method is used according to accounting rules (see Glossary).

Download table

Additional information on subsidiaries and structured entities composing the BBVA Group as of December 31, 2022 (continued)

			% share of participation ⁽¹⁾			Millions of Euros ⁽²⁾
			% share of participation ⁽¹⁾			Affiliate entity data
Company	Location	Activity	Direct	Indirect	Total	Net carrying amount	Equity excluding profit (loss) 31.12.2022	Profit (loss) 31.12.2022
BBVA COLOMBIA, S.A.	COLOMBIA	BANKING	77.41	18.06	95.47	341	1,062	193
BBVA CONSUMER FINANCE ENTIDAD DE DESARROLLO A LA PEQUEÑA Y MICRO EMPRESA EDPYME, S.A. (BBVA CONSUMER FINANCE - EDPYME)	PERU	IN LIQUIDATION	—	100.00	100.00	4	1	3
BBVA DISCOVERY INC	UNITED STATES	FINANCIAL SERVICES	100.00	—	100.00	9	17	(8)
BBVA DISTRIBUIDORA DE SEGUROS S.R.L.	URUGUAY	FINANCIAL SERVICES	—	100.00	100.00	6	3	3
BBVA FUNDOS S.GESTORA FUNDOS PENSOES, S.A.	PORTUGAL	PENSION FUND MANAGEMENT	100.00	—	100.00	8	6	1
BBVA GLOBAL FINANCE LTD	CAYMAN ISLANDS	OTHER ISSUANCE COMPANIES	100.00	—	100.00	—	5	—
BBVA GLOBAL MARKETS BV	NETHERLANDS	OTHER ISSUANCE COMPANIES	100.00	—	100.00	—	—	—
BBVA GLOBAL SECURITIES, B.V.	NETHERLANDS	OTHER ISSUANCE COMPANIES	100.00	—	100.00	—	—	—
BBVA HOLDING CHILE, S.A.	CHILE	INVESTMENT COMPANY	61.22	38.78	100.00	158	299	43
BBVA INFORMATION TECHNOLOGY ESPAÑA, S.L.	SPAIN	SERVICES	76.00	—	76.00	1	5	2
BBVA INSTITUIÇAO FINANCEIRA DE CREDITO, S.A.	PORTUGAL	FINANCIAL SERVICES	49.90	50.10	100.00	39	61	4
BBVA LEASING MEXICO, S.A. DE CV	MEXICO	FINANCIAL SERVICES	—	100.00	100.00	51	214	22
BBVA MEDIACION OPERADOR DE BANCA-SEGUROS VINCULADO, S.A.	SPAIN	FINANCIAL SERVICES	99.99	0.01	100.00	11	(14)	27
BBVA MEXICO, S.A. INSTITUCION DE BANCA MULTIPLE GRUPO FINANCIERO BBVA MEXICO	MEXICO	BANKING	—	100.00	100.00	14,382	10,770	3,611
BBVA NEXT TECHNOLOGIES OPERADORA, S.A. DE C.V.	MEXICO	SERVICES	—	100.00	100.00	—	—	—
BBVA NEXT TECHNOLOGIES SLU	SPAIN	INVESTMENT COMPANY	100.00	—	100.00	33	25	5
BBVA NEXT TECHNOLOGIES, S.A. DE C.V.	MEXICO	SERVICES	—	100.00	100.00	1	1	—
BBVA OP3N S.L.	SPAIN	SERVICES	—	100.00	100.00	—	2	—
BBVA OPERADORA MEXICO, S.A. DE CV	MEXICO	SERVICES	—	100.00	100.00	65	60	5
BBVA PENSIONES MEXICO, S.A. DE C.V., GRUPO FINANCIERO BBVA MEXICO	MEXICO	INSURANCES SERVICES	—	100.00	100.00	336	242	95
BBVA PENSIONES, S.A. ENTIDAD GESTORA DE FONDOS DE PENSIONES	SPAIN	PENSION FUND MANAGEMENT	100.00	—	100.00	13	15	9
BBVA PERU HOLDING SAC	PERU	INVESTMENT COMPANY	100.00	—	100.00	109	1,066	219
BBVA PREVISION AFP, S.A. ADM.DE FONDOS DE PENSIONES	BOLIVIA	PENSION FUND MANAGEMENT	75.00	5.00	80.00	2	5	11
BBVA PROCESSING SERVICES INC.	UNITED STATES	FINANCIAL SERVICES	100.00	—	100.00	1	1	—
BBVA RE INHOUSE COMPAÑIA DE REASEGUROS, S.E.	SPAIN	INSURANCES SERVICES	—	100.00	100.00	39	57	9
BBVA SECURITIES INC	UNITED STATES	FINANCIAL SERVICES	100.00	—	100.00	233	266	(13)
BBVA SEGUROS ARGENTINA, S.A.	ARGENTINA	INSURANCES SERVICES	87.78	12.22	100.00	11	19	32
BBVA SEGUROS COLOMBIA, S.A.	COLOMBIA	INSURANCES SERVICES	94.00	6.00	100.00	10	17	10
BBVA SEGUROS DE VIDA COLOMBIA, S.A.	COLOMBIA	INSURANCES SERVICES	94.00	6.00	100.00	14	81	22
BBVA SEGUROS MÉXICO, S.A. DE CV GRUPO FINANCIERO BBVA MEXICO	MEXICO	INSURANCES SERVICES	—	100.00	100.00	518	228	290
BBVA SEGUROS, S.A. DE SEGUROS Y REASEGUROS	SPAIN	INSURANCES SERVICES	99.96	—	99.96	713	675	223
BBVA SEGUROS SALUD MEXICO, S.A. DE CV GRUPO FRO. BBVA MEXICO	MEXICO	INSURANCES SERVICES	—	100.00	100.00	12	9	4
BBVA SERVICIOS ADMINISTRATIVOS MEXICO, S.A. DE C.V.	MEXICO	SERVICES	—	100.00	100.00	36	52	(16)
BBVA SERVICIOS CORPORATIVOS MEXICO, S.A. DE C.V.	MEXICO	SERVICES	—	100.00	100.00	4	4	—
BBVA SERVICIOS, S.A.	SPAIN	COMMERCIAL	—	100.00	100.00	—	—	—
BBVA SOCIEDAD TITULIZADORA, S.A.	PERU	OTHER ISSUANCE COMPANIES	—	100.00	100.00	1	1	—
BBVA TRADE, S.A.	SPAIN	INVESTMENT COMPANY	—	100.00	100.00	9	9	—

Download table

Additional information on subsidiaries and structured entities composing the BBVA Group as of December 31, 2022 (continued)

			% share of participation ⁽¹⁾			Millions of Euros ⁽²⁾
			% share of participation ⁽¹⁾			Affiliate entity data
Company	Location	Activity	Direct	Indirect	Total	Net carrying amount	Equity excluding profit (loss) 31.12.2022	Profit (loss) 31.12.2022
BBVA VALORES COLOMBIA, S.A. COMISIONISTA DE BOLSA	COLOMBIA	SECURITIES DEALER	—	100.00	100.00	8	8	—
BILBAO VIZCAYA HOLDING SAU	SPAIN	INVESTMENT COMPANY	100.00	—	100.00	160	321	(32)
CAIXA MANRESA IMMOBILIARIA ON CASA, S.L.	SPAIN	REAL ESTATE	100.00	—	100.00	2	2	—
CARTERA E INVERSIONES, S.A.	SPAIN	INVESTMENT COMPANY	100.00	—	100.00	92	131	4
CASA DE BOLSA BBVA MEXICO, S.A. DE CV	MEXICO	SECURITIES DEALER	—	100.00	100.00	69	46	24
CATALONIA PROMODIS 4, S.A.	SPAIN	REAL ESTATE	—	100.00	100.00	1	1	—
CATALUNYACAIXA IMMOBILIARIA, S.A.	SPAIN	REAL ESTATE	100.00	—	100.00	194	181	14
CATALUNYACAIXA SERVEIS, S.A.	SPAIN	SERVICES	100.00	—	100.00	2	2	—
CDD GESTIONI S.R.L. IN LIQUIDAZIONE	ITALY	IN LIQUIDATION	100.00	—	100.00	—	—	—
CIDESSA DOS, S.L.	SPAIN	INVESTMENT COMPANY	—	100.00	100.00	16	15	2
CIERVANA, S.L.	SPAIN	INVESTMENT COMPANY	100.00	—	100.00	53	52	2
COMERCIALIZADORA CORPORATIVA SAC	PERU	FINANCIAL SERVICES	—	50.00	50.00	—	—	—
COMERCIALIZADORA DE SERVICIOS FINANCIEROS, S.A.	COLOMBIA	SERVICES	—	100.00	100.00	3	4	—
COMPAÑIA CHILENA DE INVERSIONES, S.L.	SPAIN	INVESTMENT COMPANY	99.97	0.03	100.00	221	272	10
CONSOLIDAR A.F.J.P, S.A.	ARGENTINA	IN LIQUIDATION	46.11	53.89	100.00	1	—	—
CONTENTS AREA, S.L.	SPAIN	SERVICES	—	100.00	100.00	5	5	—
CONTINENTAL DPR FINANCE COMPANY	CAYMAN ISLANDS	FINANCIAL SERVICES	—	100.00	100.00	—	—	—
CONTRATACION DE PERSONAL, S.A. DE C.V.	MEXICO	SERVICES	—	100.00	100.00	1	1	—
CORPORACION GENERAL FINANCIERA, S.A.	SPAIN	INVESTMENT COMPANY	100.00	—	100.00	510	885	19
CREA MADRID NUEVO NORTE, S.A.	SPAIN	REAL ESTATE	—	75.54	75.54	130	176	(4)
DATA ARCHITECTURE AND TECHNOLOGY MEXICO, S.A. DE CV	MEXICO	SERVICES	—	100.00	100.00	1	1	—
DATA ARCHITECTURE AND TECHNOLOGY, S.L.	SPAIN	SERVICES	—	51.00	51.00	—	4	—
DATA ARQUITECTURE AND TECHNOLOGY OPERADORA, S.A. DE CV	MEXICO	SERVICES	—	100.00	100.00	—	—	—
DEUTSCHE BANK MEXICO, S.A. FIDEICOMISO F/1859	MEXICO	FINANCIAL SERVICES	—	100.00	100.00	—	—	—
DEUTSCHE BANK MEXICO, S.A. FIDEICOMISO F/1860	MEXICO	FINANCIAL SERVICES	—	100.00	100.00	—	—	—
ECASA, S.A.	CHILE	FINANCIAL SERVICES	—	100.00	100.00	39	30	10
EMPRENDIMIENTOS DE VALOR, S.A.	URUGUAY	FINANCIAL SERVICES	—	100.00	100.00	3	3	—
EUROPEA DE TITULIZACION, S.A. SGFT.	SPAIN	FINANCIAL SERVICES	88.24	—	88.24	2	18	2
F/11395 FIDEICOMISO IRREVOCABLE DE ADMINISTRACION CON DERECHO DE REVERSION ⁽³⁾	MEXICO	REAL ESTATE	—	42.40	42.40	1	1	—
F/253863 EL DESEO RESIDENCIAL	MEXICO	REAL ESTATE	—	65.00	65.00	—	1	—
FIDEICOMISO 28991-8 TRADING EN LOS MCADOS FINANCIEROS	MEXICO	FINANCIAL SERVICES	—	100.00	100.00	4	3	—
FIDEICOMISO F/29764-8 SOCIO LIQUIDADOR DE OPERACIONES FINANCIERAS DERIVADAS	MEXICO	FINANCIAL SERVICES	—	100.00	100.00	57	46	11
FIDEICOMISO F/403112-6 DE ADMINISTRACION DOS LAGOS	MEXICO	REAL ESTATE	—	100.00	100.00	—	—	—
FIDEICOMISO HARES BBVA BANCOMER F/47997-2	MEXICO	REAL ESTATE	—	100.00	100.00	4	3	1
FIDEICOMISO INMUEBLES CONJUNTO RESIDENCIAL HORIZONTES DE VILLA CAMPESTRE	COLOMBIA	REAL ESTATE	—	100.00	100.00	—	1	—
FIDEICOMISO LOTE 6.1 ZARAGOZA	COLOMBIA	REAL ESTATE	—	59.99	59.99	—	1	—
FIDEICOMISO SCOTIABANK INVERLAT S A F100322908	MEXICO	REAL ESTATE	—	100.00	100.00	2	2	—

(3) Full consolidation method is used according to accounting rules (see Glossary).

Download table

Additional information on subsidiaries and structured entities composing the BBVA Group as of December 31, 2022 (continued)

			% share of participation ⁽¹⁾			Millions of Euros ⁽²⁾
			% share of participation ⁽¹⁾			Affiliate entity data
Company	Location	Activity	Direct	Indirect	Total	Net carrying amount	Equity excluding profit (loss) 31.12.2022	Profit (loss) 31.12.2022
FINANCIERA AYUDAMOS, S.A. DE C.V., SOFOMER	MEXICO	IN LIQUIDATION	—	100.00	100.00	6	5	—
FOMENTO Y DESARROLLO DE CONJUNTOS RESIDENCIALES, S.L. EN LIQUIDACION	SPAIN	IN LIQUIDATION	—	60.00	60.00	—	—	—
FORUM COMERCIALIZADORA DEL PERU, S.A.	PERU	SERVICES	—	100.00	100.00	1	1	—
FORUM DISTRIBUIDORA DEL PERU, S.A.	PERU	FINANCIAL SERVICES	—	100.00	100.00	8	7	1
FORUM DISTRIBUIDORA, S.A.	CHILE	FINANCIAL SERVICES	—	100.00	100.00	45	41	2
FORUM SERVICIOS FINANCIEROS, S.A.	CHILE	FINANCIAL SERVICES	—	100.00	100.00	271	219	42
FUTURO FAMILIAR, S.A. DE C.V.	MEXICO	IN LIQUIDATION	—	100.00	100.00	1	1	—
G NETHERLANDS BV	NETHERLANDS	INVESTMENT COMPANY	—	100.00	100.00	393	325	—
GARANTI BANK, S.A.	ROMANIA	BANKING	—	100.00	100.00	254	317	39
GARANTI BBVA AS	TURKEY	BANKING	85.97	—	85.97	5,247	4,914	2,941
GARANTI BBVA EMEKLILIK AS	TURKEY	INSURANCES SERVICES	—	84.91	84.91	87	50	51
GARANTI BBVA FACTORING AS	TURKEY	FINANCIAL SERVICES	—	81.84	81.84	28	17	18
GARANTI BBVA FILO AS	TURKEY	SERVICES	—	100.00	100.00	100	50	50
GARANTI BBVA LEASING AS	TURKEY	FINANCIAL SERVICES	—	100.00	100.00	189	118	71
GARANTI BBVA PORTFOY AS	TURKEY	INVESTMENT FUND MANAGEMENT	—	100.00	100.00	16	8	8
GARANTI BBVA YATIRIM AS	TURKEY	FINANCIAL SERVICES	—	100.00	100.00	112	51	61
GARANTI DIVERSIFIED PAYMENT RIGHTS FINANCE COMPANY	CAYMAN ISLANDS	OTHER ISSUANCE COMPANIES	—	100.00	100.00	—	(8)	6
GARANTI FILO SIGORTA ARACILIK HIZMETLERI A.S.	TURKEY	FINANCIAL SERVICES	—	100.00	100.00	—	—	—
GARANTI HOLDING BV	NETHERLANDS	INVESTMENT COMPANY	—	100.00	100.00	565	394	—
GARANTI KONUT FINANSMANI DANISMANLIK HIZMETLERI AS (GARANTI MORTGAGE)	TURKEY	SERVICES	—	100.00	100.00	—	—	—
GARANTI KULTUR AS	TURKEY	SERVICES	—	100.00	100.00	—	—	—
GARANTI ODEME SISTEMLERI AS (GOSAS)	TURKEY	FINANCIAL SERVICES	—	100.00	100.00	6	4	3
GARANTI ODEME VE ELEKTRONIK PARA HIZMETLERI ANONIM SIRKETI	TURKEY	PAYMENT ENTITIES	—	100.00	100.00	5	6	(2)
GARANTI YATIRIM ORTAKLIGI AS ⁽³⁾⁽⁴⁾	TURKEY	INVESTMENT COMPANY	—	3.61	3.61	—	2	1
GARANTI BANK BBVA INTERNATIONAL N.V.	NETHERLANDS	BANKING	—	100.00	100.00	724	603	41
GESCAT GESTIO DE SOL, S.L.	SPAIN	REAL ESTATE	100.00	—	100.00	8	6	2
GESCAT LLEVANT, S.L.	SPAIN	REAL ESTATE	—	100.00	100.00	1	1	—
GESCAT LLOGUERS, S.L.	SPAIN	REAL ESTATE	100.00	—	100.00	3	3	—
GESCAT VIVENDES EN COMERCIALITZACIO, S.L.	SPAIN	REAL ESTATE	100.00	—	100.00	36	38	(2)
GESTION DE PREVISION Y PENSIONES, S.A.	SPAIN	PENSION FUND MANAGEMENT	60.00	—	60.00	9	15	6
GESTION Y ADMINISTRACION DE RECIBOS, S.A. - GARSA	SPAIN	SERVICES	—	100.00	100.00	1	1	—
GRAN JORGE JUAN, S.A.	SPAIN	REAL ESTATE	100.00	—	100.00	424	432	15
GRUPO FINANCIERO BBVA MEXICO, S.A. DE CV	MEXICO	FINANCIAL SERVICES	99.98	—	99.98	8,480	12,275	4,004
INMUEBLES Y RECUPERACIONES CONTINENTAL, S.A.	PERU	REAL ESTATE	—	100.00	100.00	15	13	2
INVERAHORRO, S.L.	SPAIN	INVESTMENT COMPANY	100.00	—	100.00	118	122	(4)
INVERSIONES ALDAMA, C.A.	VENEZUELA	IN LIQUIDATION	—	100.00	100.00	—	—	—
INVERSIONES BANPRO INTERNATIONAL INC NV ⁽³⁾	CURAÇAO	INVESTMENT COMPANY	48.00	—	48.00	16	44	2

(3) Full consolidation method is used according to accounting rules (see Glossary).

(4) The percentage of voting rights owned by the Group entities in this company is 99.97%.

Download table

Additional information on subsidiaries and structured entities composing the BBVA Group as of December 31, 2022 (continued)

			% share of participation ⁽¹⁾			Millions of Euros ⁽²⁾
			% share of participation ⁽¹⁾			Affiliate entity data
Company	Location	Activity	Direct	Indirect	Total	Net carrying amount	Equity excluding profit (loss) 31.12.2022	Profit (loss) 31.12.2022
INVERSIONES BAPROBA CA	VENEZUELA	FINANCIAL SERVICES	100.00	—	100.00	—	—	—
INVERSIONES P.H.R.4, C.A.	VENEZUELA	INACTIVE	—	60.46	60.46	—	—	—
MADIVA SOLUCIONES, S.L.	SPAIN	SERVICES	—	100.00	100.00	4	3	—
MISAPRE, S.A. DE C.V.	MEXICO	IN LIQUIDATION	—	100.00	100.00	—	—	—
MOMENTUM SOCIAL INVESTMENT HOLDING, S.L.	SPAIN	INVESTMENT COMPANY	—	100.00	100.00	7	8	—
MOTORACTIVE IFN, S.A.	ROMANIA	FINANCIAL SERVICES	—	100.00	100.00	35	32	3
MOTORACTIVE MULTISERVICES SRL	ROMANIA	SERVICES	—	100.00	100.00	—	3	1
MOVISTAR CONSUMER FINANCE COLOMBIA SAS	COLOMBIA	FINANCIAL SERVICES	—	50.00	50.00	7	11	(7)
MULTIASISTENCIA OPERADORA, S.A. DE C.V.	MEXICO	INSURANCES SERVICES	—	100.00	100.00	—	—	—
MULTIASISTENCIA SERVICIOS, S.A. DE C.V.	MEXICO	INSURANCES SERVICES	—	100.00	100.00	—	—	—
MULTIASISTENCIA, S.A. DE C.V.	MEXICO	INSURANCES SERVICES	—	100.00	100.00	73	52	21
OPCION VOLCAN, S.A.	MEXICO	REAL ESTATE	—	100.00	100.00	3	3	—
OPENPAY ARGENTINA, S.A.	ARGENTINA	PAYMENT ENTITIES	—	100.00	100.00	5	6	2
OPENPAY COLOMBIA SAS	COLOMBIA	PAYMENT ENTITIES	—	100.00	100.00	4	3	(2)
OPENPAY PERÚ, S.A.	PERU	PAYMENT ENTITIES	—	100.00	100.00	6	5	(3)
OPENPAY, S.A. DE C.V.	MEXICO	PAYMENT ENTITIES	—	100.00	100.00	30	18	(9)
OPENPAY SERVICIOS, S.A. DE C.V.	MEXICO	SERVICES	—	100.00	100.00	—	—	—
OPERADORA DOS LAGOS, S.A. DE C.V.	MEXICO	SERVICES	—	100.00	100.00	—	—	—
OPPLUS OPERACIONES Y SERVICIOS, S.A.	SPAIN	SERVICES	100.00	—	100.00	1	23	10
PECRI INVERSION, S.L.	SPAIN	INVESTMENT COMPANY	100.00	—	100.00	112	109	2
PORTICO PROCAM, S.L.	SPAIN	REAL ESTATE	—	100.00	100.00	26	26	—
PROMOTORA DEL VALLES, S.L.	SPAIN	REAL ESTATE	—	100.00	100.00	15	19	1
PROMOU CT OPENSEGRE, S.L.	SPAIN	REAL ESTATE	—	100.00	100.00	5	5	—
PRONORTE UNO PROCAM, S.A.	SPAIN	REAL ESTATE	—	100.00	100.00	1	1	—
PROPEL EXPLORER FUND I LP	UNITED STATES	INVESTMENT COMPANY	—	99.50	99.50	20	22	—
PROPEL EXPLORER FUND II LP	UNITED STATES	INVESTMENT COMPANY	—	99.50	99.50	—	—	—
PROPEL VENTURE PARTNERS BRAZIL US LP	UNITED STATES	INVESTMENT COMPANY	—	99.80	99.80	20	22	—
PROPEL VENTURE PARTNERS GLOBAL US, LP	UNITED STATES	INVESTMENT COMPANY	—	99.50	99.50	121	230	(54)
PROPEL VENTURE PARTNERS US FUND I, L.P.	UNITED STATES	VENTURE CAPITAL	99.50	—	99.50	207	276	(2)
PROPEL XYZ I LP	UNITED STATES	INVESTMENT COMPANY	—	99.40	99.40	7	8	(2)
PRO-SALUD, C.A.	VENEZUELA	INACTIVE	—	58.86	58.86	—	—	—
PROVINCIAL DE VALORES CASA DE BOLSA CA	VENEZUELA	SECURITIES DEALER	—	90.00	90.00	1	1	—
PROVINCIAL SDAD.ADMIN.DE ENTIDADES DE INV.COLECTIVA CA	VENEZUELA	INVESTMENT FUND MANAGEMENT	—	100.00	100.00	1	1	—
PROVIVIENDA ENTIDAD RECAUDADORA Y ADMIN.DE APORTES, S.A.	BOLIVIA	PENSION FUND MANAGEMENT	—	100.00	100.00	2	2	—
PSA FINANCE ARGENTINA COMPAÑIA FINANCIERA, S.A.	ARGENTINA	BANKING	—	50.00	50.00	11	13	9
RALFI IFN, S.A.	ROMANIA	FINANCIAL SERVICES	—	100.00	100.00	37	21	(3)
RPV COMPANY	CAYMAN ISLANDS	OTHER ISSUANCE COMPANIES	—	100.00	100.00	—	(1)	—

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Additional information on subsidiaries and structured entities composing the BBVA Group as of December 31, 2022 (continued)

			% share of participation ⁽¹⁾			Millions of Euros ⁽²⁾
			% share of participation ⁽¹⁾			Affiliate entity data
Company	Location	Activity	Direct	Indirect	Total	Net carrying amount	Equity excluding profit (loss) 31.12.2022	Profit (loss) 31.12.2022
SATICEM GESTIO, S.L.	SPAIN	REAL ESTATE	100.00	—	100.00	2	2	—
SATICEM HOLDING, S.L.	SPAIN	REAL ESTATE	100.00	—	100.00	5	5	—
SATICEM IMMOBLES EN ARRENDAMENT, S.L.	SPAIN	REAL ESTATE	100.00	—	100.00	2	2	—
SEGUROS PROVINCIAL CA	VENEZUELA	INSURANCES SERVICES	—	100.00	100.00	10	14	(4)
SERVICIOS CORPORATIVOS DE SEGUROS, S.A. DE C.V.	MEXICO	SERVICES	—	100.00	100.00	1	1	—
SERVICIOS EXTERNOS DE APOYO EMPRESARIAL, S.A DE C.V.	MEXICO	SERVICES	—	100.00	100.00	8	8	—
SOCIEDAD DE ESTUDIOS Y ANALISIS FINANCIERO, S.A.	SPAIN	SERVICES	100.00	—	100.00	67	65	2
SOCIEDAD PERUANA DE FINANCIAMIENTO SAC	PERU	FINANCIAL SERVICES	—	50.00	50.00	1	3	—
SPORT CLUB 18, S.A.	SPAIN	INVESTMENT COMPANY	100.00	—	100.00	11	11	—
TREE INVERSIONES INMOBILIARIAS, S.A.	SPAIN	REAL ESTATE	100.00	—	100.00	1,988	754	23
TRIFOI REAL ESTATE SRL	ROMANIA	REAL ESTATE	—	100.00	100.00	1	1	—
UNNIM SOCIEDAD PARA LA GESTION DE ACTIVOS INMOBILIARIOS, S.A.	SPAIN	REAL ESTATE	100.00	—	100.00	531	417	20
URBANIZADORA SANT LLORENC, S.A.	SPAIN	INACTIVE	60.60	—	60.60	—	—	—
VERIDAS DIGITAL AUTHENTICATION SOLUTIONS MEXICO SACV	MEXICO	SERVICES	—	100.00	100.00	—	—	—
VERIDAS DIGITAL AUTHENTICATION SOLUTIONS, S.L.	SPAIN	SERVICES	—	51.00	51.00	1	4	(1)
VERIDAS DIGITAL AUTHENTICATION SOLUTIONS USA LLC	UNITED STATES	SERVICES	—	100.00	100.00	—	—	—
VOLKSWAGEN FINANCIAL SERVICES COMPAÑIA FINANCIERA, S.A.	ARGENTINA	BANKING	—	51.00	51.00	18	22	14

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This Appendix is an integral part of Note 3 of the consolidated financial statements for the year ended December 31, 2022.

APPENDIX II. Additional information on investments joint ventures and associates in the BBVA Group as of December 31, 2022

Most significant companies are included, which together represent 99.5% of the total investment in this group.

			% Legal share of participation			Millions of Euros ⁽¹⁾
			% Legal share of participation			Affiliate entity data
Company	Location	Activity	Direct	Indirect	Total	Net carrying amount	Assets 31.12.22	Liabilities 31.12.2022	Equity excluding profit (loss) 31.12.2022	Profit (loss) 31.12.2022
ASSOCIATES
ADQUIRA ESPAÑA, S.A.	SPAIN	SERVICES	—	44.44	44.44	4	20	11	9	1
ATOM HOLDCO LIMITED	UNITED KINGDOM	INVESTMENT COMPANY	42.77	—	42.77	132	7,063	6,755	314	(7)
AUREA, S.A. (CUBA)	CUBA	REAL ESTATE	—	49.00	49.00	5	10	1	10	—
BBVA ALLIANZ SEGUROS Y REASEGUROS, S.A.	SPAIN	INSURANCES SERVICES	—	50.00	50.00	248	836	298	535	4
COMPAÑIA ESPAÑOLA DE FINANCIACION DEL DESARROLLO, S.A.	SPAIN	PUBLIC COMPANIES AND INSTITUTIONS	16.67	—	16.67	31	191	7	168	16
COMPAÑIA PERUANA DE MEDIOS DE PAGO SAC (VISANET PERU)	PERU	ELECTRONIC MONEY ENTITIES	—	21.50	21.50	2	126	118	4	5
METROVACESA, S.A.	SPAIN	REAL ESTATE	9.44	11.41	20.85	259	2,541	695	1,830	16
PLAY DIGITAL, S.A.	ARGENTINA	PAYMENT ENTITIES	—	10.80	10.80	2	19	3	27	(10)
REDSYS SERVICIOS DE PROCESAMIENTO, S.L.	SPAIN	FINANCIAL SERVICES	24.90	—	24.90	20	121	42	75	4
ROMBO COMPAÑIA FINANCIERA, S.A.	ARGENTINA	BANKING	—	40.00	40.00	4	122	112	10	—
SBD CREIXENT, S.A.	SPAIN	REAL ESTATE	—	23.05	23.05	1	5	1	5	—
SEGURIDAD Y PROTECCION BANCARIAS, S.A. DE CV	MEXICO	SERVICES	—	26.14	26.14	1	4	—	3	1
SERVICIOS ELECTRONICOS GLOBALES, S.A. DE CV	MEXICO	SERVICES	—	46.14	46.14	23	50	—	38	13
SERVIRED SOCIEDAD ESPAÑOLA DE MEDIOS DE PAGO, S.A.	SPAIN	FINANCIAL SERVICES	28.72	—	28.72	8	82	54	26	2
SISTEMAS DE TARJETAS Y MEDIOS DE PAGO, S.A.	SPAIN	PAYMENT ENTITIES	20.61	—	20.61	2	377	369	5	3
SOLARIS SE ⁽²⁾	GERMANY	BANKING	—	15.51	15.51	66	3,317	3,086	268	(36)
TELEFONICA FACTORING ESPAÑA, S.A. ⁽³⁾	SPAIN	FINANCIAL SERVICES	30.00	—	30.00	4	73	57	7	9
TF PERU SAC	PERU	FINANCIAL SERVICES	—	24.30	24.30	1	6	1	4	1

JOINT VENTURES
ALTURA MARKETS SOCIEDAD DE VALORES, S.A.	SPAIN	SECURITIES DEALER	50.00	—	50.00	42	3,391	3,307	73	12
COMPAÑIA MEXICANA DE PROCESAMIENTO, S.A. DE CV	MEXICO	SERVICES	—	50.00	50.00	10	20	—	19	1
CORPORACION IBV PARTICIPACIONES EMPRESARIALES, S.A. ⁽⁴⁾	SPAIN	INVESTMENT COMPANY	—	50.00	50.00	29	62	4	58	—
FIDEICOMISO 1729 INVEX ENAJENACION DE CARTERA ⁽⁴⁾	MEXICO	REAL ESTATE	—	44.09	44.09	9	185	—	185	—
FIDEICOMISO F/402770-2 ALAMAR	MEXICO	REAL ESTATE	—	42.40	42.40	7	17	—	17	—
INVERSIONES PLATCO CA	VENEZUELA	FINANCIAL SERVICES	—	50.00	50.00	3	7	1	7	(1)
PROMOCIONS TERRES CAVADES, S.A.	SPAIN	REAL ESTATE	—	39.11	39.11	1	3	—	3	—
RCI COLOMBIA S.A. COMPAÑIA DE FINANCIAMIENTO	COLOMBIA	FINANCIAL SERVICES	—	49.00	49.00	36	755	682	57	16

(1) In foreign companies the exchange rate of December 31, 2022 is applied.

(2) The percentage of voting rights owned by the Group entities in this company is 22.22%.

(3) Financial Statements as of December 31, 2021.

(4) Classified as Non-current asset held for sale.

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This Appendix is an integral part of Notes 3 and 16.1 of the consolidated financial statements for the year ended December 31, 2022.

APPENDIX III. Changes and notifications of participations in the BBVA Group in 2022

Acquisitions or increases of interest ownership in consolidated subsidiaries

Company ⁽¹⁾	Type of transaction	Total voting rights controlled after the disposal	Effective Date for the Transaction (or Notification Date)
PROPEL VENTURE PARTNERS GLOBAL US, LP	FOUNDING	99.50	31-Mar-22
PROPEL VENTURE PARTNERS BRAZIL US LP	FOUNDING	99.80	31-Mar-22
PROPEL XYZ I LP	FOUNDING	99.40	09-Jun-22
TREE INVERSIONES INMOBILIARIAS, S.A.	ACQUISITION	100.00	15-Jun-22
PROPEL EXPLORER FUND I LP	FOUNDING	—	15-Jun-22
PROPEL EXPLORER FUND II LP	FOUNDING	—	15-Jun-22
BBVA DISCOVERY INC	FOUNDING	100.00	20-Sep-22
SOCIEDAD PERUANA DE FINANCIAMIENTO SAC	FOUNDING	50.00	13-Oct-22
VERIDAS DIGITAL AUTHENTICATION SOLUTIONS MEXICO SACV	FOUNDING	100.00	14-Feb-22
VERIDAS DIGITAL AUTHENTICATION SOLUTIONS USA LLC	FOUNDING	100.00	30-Jul-22
GARANTI ODEME VE ELEKTRONIK PARA HIZMETLERI ANONIM SIRKETI	FOUNDING	100.00	30-Apr-22
GARANTI BBVA AS	PURCHASE - VTB	85.97	18-May-22

(1) Variations of less than 0.1% have not been considered due to immateriality.

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Disposals or reduction of interest ownership in consolidated subsidiaries

Company ⁽¹⁾	Type of transaction	Total voting rights controlled after the disposal	Effective date for the transaction (or notification date)
BANCO INDUSTRIAL DE BILBAO, S.A.	MERGER	—	15-Dec-22
BBVA FINANZIA SPA	LIQUIDATION	—	08-Jun-22
UNIVERSALIDAD TIPS PESOS E-9	MERGER	—	01-Jun-22
BBVA PLANIFICACION PATRIMONIAL, S.L.	LIQUIDATION	—	07-Jan-22
INMESP DESARROLLADORA, S.A. DE C.V.	MERGER	—	30-Mar-22
PROPEL VENTURE PARTNERS GLOBAL, S.L	MERGER	—	27-Dec-22
PROPEL VENTURE PARTNERS BRAZIL S.L.	MERGER	—	27-Dec-22
PROPEL EXPLORER FUND I, S.L.	MERGER	—	27-Dec-22
PROMOU CT GEBIRA, S.L.	LIQUIDATION	—	15-Jun-22
GARANTI BILISIM TEKNOLOJISI VE TIC TAS	LIQUIDATION	—	23-Aug-22
JALE PROCAM, S.L. (EN LIQUIDACIÓN)	LIQUIDATION	—	23-Dec-22
SATICEM IMMOBILIARIA, S.L.	LIQUIDATION	—	06-Sep-22
SOCIEDAD GESTORA DEL FONDO PUBLICO DE REGULACION DEL MERCADO HIPOTECARIO, S.A.	LIQUIDATION	—	02-May-22

(1) Variations of less than 0.1% have not been considered due to immateriality.

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Changes and notifications of participations in the BBVA Group in 2022 (continued)

Business combinations and other acquisitions or increases of interest ownership in associates and joint-ventures accounted for under the equity method

Company⁽¹⁾	Type of transaction	Total voting rights controlled after the disposal	Effective date for the transaction (or notification date)
NUEVO MARKETPLACE, S.L.	CAPITAL INCREASE	28.16	30-Sep-22
ATOM HOLDCO LIMITED	FOUNDING	42.77	30-Nov-22
SOLARIS SE ⁽²⁾	CAPITAL INCREASE	15.51	04-Nov-22

(1) Variations of less than 0.1% have not been considered due to immateriality.

(2) The percentage of voting rights held by group entities in this company is 22.22%.

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Disposal or reduction of interest ownership in associates and joint-ventures companies accounted for under the equity method

Company ⁽¹⁾	Type of transaction	Total voting rights controlled after the disposal	Effective date for the transaction (or notification date)
IRB RIESGO OPERACIONAL SL	CAPITAL DECREASE	-	11-Jan-22
DESARROLLOS METROPOLITANOS DEL SUR, S.L.	DISPOSAL	-	16-Jun-22
ATOM BANK PLC	TRANSFER PARTICIPATIONS	-	01-Nov-22
PRIVACYCLOUD S.L.	DISPOSAL	-	15-Dec-22

(1) Variations of less than 0.1% have not been considered due to immateriality.

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This Appendix is an integral part of Notes 3 and 16.1 of the consolidated financial statements for the year ended December 31, 2022.

APPENDIX IV. Fully consolidated subsidiaries with more than 10% owned by non-Group shareholders as of December 31, 2022

		% of voting rights controlled by the Bank
Company	Activity	Direct	Indirect	Total
BANCO BBVA PERÚ SA	BANKING	—	46.12	46.12
BANCO PROVINCIAL SA - BANCO UNIVERSAL	BANKING	1.46	53.75	55.21
INVERSIONES BANPRO INTERNATIONAL INC NV	INVESTMENT COMPANY	48.00	—	48.01
PRO-SALUD, C.A.	NO ACTIVITY	—	58.86	58.86
INVERSIONES P.H.R.4, C.A.	NO ACTIVITY	—	60.46	60.46
BBVA PREVISION AFP SA ADM.DE FONDOS DE PENSIONES	PENSION FUND MANAGEMENT	75.00	5.00	80.00
COMERCIALIZADORA CORPORATIVA SAC	FINANCIAL SERVICES	—	50.00	50.00
CREA MADRID NUEVO NORTE SA	REAL ESTATE	—	75.54	75.54
GESTION DE PREVISION Y PENSIONES SA	PENSION FUND MANAGEMENT	60.00	—	60.00
SOCIEDAD PERUANA DE FINANCIAMIENTO SAC	FINANCIAL SERVICES	—	50.00	50.00
F/253863 EL DESEO RESIDENCIAL	REAL ESTATE	—	65.00	65.00
DATA ARCHITECTURE AND TECHNOLOGY S.L.	SERVICES	—	51.00	51.00
VOLKSWAGEN FINANCIAL SERVICES COMPAÑIA FINANCIERA SA	BANKING	—	51.00	51.00
FIDEICOMISO LOTE 6.1 ZARAGOZA	REAL ESTATE	—	59.99	59.99
F/11395 FIDEICOMISO IRREVOCABLE DE ADMINISTRACION CON DERECHO DE REVERSION	REAL ESTATE	—	42.40	42.40
VERIDAS DIGITAL AUTHENTICATION SOLUTIONS S.L.	SERVICES	—	51.00	51.00
MOVISTAR CONSUMER FINANCE COLOMBIA SAS	FINANCIAL SERVICES	—	50.00	50.00
GARANTI BBVA EMEKLILIK AS	INSURANCES	—	84.91	84.91
FOMENTO Y DESARROLLO DE CONJUNTOS RESIDENCIALES S.L. EN LIQUIDACION	IN LIQUIDATION	—	60.00	60.00
BBVA INFORMATION TECHNOLOGY ESPAÑA SL	SERVICES	76.00	—	76.00
PSA FINANCE ARGENTINA COMPAÑIA FINANCIERA SA	BANKING	—	50.00	50.00

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This Appendix is an integral part of Note 3 of the consolidated financial statements for the year ended December 31, 2022.

APPENDIX V. Securitization funds. BBVA Group’s structured entities as of December 31, 2022

			Millions of Euros
Securitization fund (consolidated)	Company	Origination date	Total securitized exposures at the origination date	Total securitized exposures as of December 31, 2022
TDA 22 Mixto, FTA (Unnim)	BANCO BILBAO VIZCAYA ARGENTARIA SA	09-Dec-04	592	13
AYT HIP MIXTO V	BANCO BILBAO VIZCAYA ARGENTARIA SA	21-Jul-06	120	16
TDA 27 Mixto, FTA	BANCO BILBAO VIZCAYA ARGENTARIA SA	22-Dec-06	275	58
TDA 28 Mixto, FTA	BANCO BILBAO VIZCAYA ARGENTARIA SA	23-Jul-07	250	59
HIPOCAT 8 FTA	BANCO BILBAO VIZCAYA ARGENTARIA SA	06-May-05	1,500	143
HIPOCAT 9 FTA	BANCO BILBAO VIZCAYA ARGENTARIA SA	25-Nov-05	1,016	112
HIPOCAT 10 FTA	BANCO BILBAO VIZCAYA ARGENTARIA SA	05-Jul-06	1,526	166
HIPOCAT 11 FTA	BANCO BILBAO VIZCAYA ARGENTARIA SA	09-Mar-07	1,628	181
TDA 19 MIXTO, FTA	BANCO BILBAO VIZCAYA ARGENTARIA SA	27-Feb-04	600	12
TDA TARRAGONA 1 FTA	BANCO BILBAO VIZCAYA ARGENTARIA SA	30-Nov-07	397	59
GAT VPO (UNNIM)	BANCO BILBAO VIZCAYA ARGENTARIA SA	25-Jun-09	780	25
BBVA CONSUMO 10 FT	BANCO BILBAO VIZCAYA ARGENTARIA SA	08-Jul-19	2,000	908
BBVA CONSUMO 11 FT	BANCO BILBAO VIZCAYA ARGENTARIA SA	12-Mar-21	2,500	1,285
BBVA CONSUMO 9 FT	BANCO BILBAO VIZCAYA ARGENTARIA SA	27-Mar-17	1,375	204
BBVA CONSUMER AUTO 2018-1	BANCO BILBAO VIZCAYA ARGENTARIA SA	18-Jun-18	800	206
BBVA CONSUMER AUTO 2020-1	BANCO BILBAO VIZCAYA ARGENTARIA SA	15-Jun-20	1,100	780
BBVA RMBS 1 FTA	BANCO BILBAO VIZCAYA ARGENTARIA SA	19-Feb-07	2,500	616
BBVA RMBS 2 FTA	BANCO BILBAO VIZCAYA ARGENTARIA SA	26-Mar-07	5,000	1,152
BBVA RMBS 3 FTA	BANCO BILBAO VIZCAYA ARGENTARIA SA	22-Jul-07	3,000	1,037
BBVA RMBS 5 FTA	BANCO BILBAO VIZCAYA ARGENTARIA SA	24-May-08	5,000	1,727
BBVA RMBS 9 FTA	BANCO BILBAO VIZCAYA ARGENTARIA SA	18-Apr-10	1,295	603
BBVA RMBS 14 FTA	BANCO BILBAO VIZCAYA ARGENTARIA SA	24-Nov-14	700	316
BBVA CONSUMER AUTO 2022-1	BANCO BILBAO VIZCAYA ARGENTARIA SA	13-Jun-22	1,200	1,036
BBVA RMBS 22	BANCO BILBAO VIZCAYA ARGENTARIA SA	28-Nov-22	1,400	1,380
BBVA RMBS 17 FT	BANCO BILBAO VIZCAYA ARGENTARIA SA	21-Nov-16	1,800	1,044
BBVA RMBS 21	BANCO BILBAO VIZCAYA ARGENTARIA SA	17-Mar-22	12,400	11,296
BBVA RMBS 19 FT	BANCO BILBAO VIZCAYA ARGENTARIA SA	25-Nov-19	2,000	1,475
BBVA RMBS 20 FT	BANCO BILBAO VIZCAYA ARGENTARIA SA	14-Jun-21	2,500	2,143
BBVA LEASING 1 FTA	BANCO BILBAO VIZCAYA ARGENTARIA SA	24-Jun-07	2,500	89
BBVA LEASING 2 FTA	BANCO BILBAO VIZCAYA ARGENTARIA SA	27-Jul-20	2,100	711
BBVA-6 FTPYME FTA	BANCO BILBAO VIZCAYA ARGENTARIA SA	10-Jun-07	1,500	25

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APPENDIX VI. Details of the outstanding subordinated debt and preferred securities issued by the Bank or entities in the Group consolidated as of December 31, 2022, 2021 and 2020

Outstanding as of December 31, 2022, 2021 and 2020 of subordinated issues

		Millions of Euros
Issuer entity and issued date	Currency	December 2022	December 2021	December 2020	Prevailing Interest Rate as of December 31, 2022	Maturity Date
Issues in Euros
BANCO BILBAO VIZCAYA ARGENTARIA S.A.
March-08	EUR	125	125	125	6.03%	3-Mar-33
July-08	EUR	100	100	100	6.20%	4-Jul-23
April-16	EUR	—	—	1,000	0.00%	Perpetual
February-17	EUR	1,000	1,000	1,000	3.50%	10-Feb-27
February-17	EUR	99	99	99	4.00%	24-Feb-32
March-17	EUR	65	65	65	4.00%	24-Feb-32
May-17	EUR	150	150	150	2.54%	24-May-27
May-17	EUR	—	500	500	0.00%	Perpetual
September-18	EUR	1,000	1,000	1,000	5.88%	Perpetual
February-19	EUR	750	750	750	2.58%	22-Feb-29
March-19	EUR	1,000	1,000	1,000	6.00%	Perpetual
January-20	EUR	994	994	994	1.00%	16-Jan-30
July-20	EUR	1,000	1,000	1,000	6.00%	Perpetual
Total issued in Euros	EUR	6,460	7,028	8,113

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Outstanding as of December 31, 2022, 2021 and 2020 of subordinated issues

		Millions of Euros
Issuer entity and issued date	Currency	December 2022	December 2021	December 2020	Prevailing Interest Rate as of December 31, 2022	Maturity Date
Issues in foreign currency
BANCO BILBAO VIZCAYA ARGENTARIA S.A.
March-17	USD	113	106	98	5.70%	31-Mar-32
November-17	USD	938	883	815	6.13%	Perpetual
May-18	USD	279	263	243	5.25%	29-May-33
September-19	USD	938	883	815	6.50%	Perpetual
Subtotal	USD	2,267	2,135	1,970
May-17	CHF	20	19	19	1.60%	24-May-27
Subtotal	CHF	20	19	19
July-20	GBP	338	357	334	3.10%	15-Jul-31
Subtotal	GBP	338	357	334
BBVA GLOBAL FINANCE LTD ⁽¹⁾
December-95	USD	187	176	162	7.00%	01-Dec-25
Subtotal	USD	187	176	162
BBVA BANCOMER S.A. INSTITUCION DE BANCA MULTIPLE GRUPO FINANCIERO BBVA BANCOMER
April-10	USD	—	—	—	7.25%	22-Apr-20
March-11	USD	—	—	612	6.50%	10-Mar-21
July-12	USD	—	1,329	1,223	6.75%	30-Sep-22
November-14	USD	187	177	163	5.35%	12-Nov-29
January-18	USD	935	886	815	5.13%	18-Jan-33
September-19	USD	702	665	612	5.88%	13-Sep-34
Subtotal	USD	1,824	3,057	3,425
BANCO BILBAO VIZCAYA ARGENTARIA URUGUAY S.A.
November-17	USD	1	—	—	9.54 %	6-Feb-64
Subtotal	—	1	—	—
BBVA PARAGUAY S.A. ⁽²⁾
November-14	USD	—	—	16	6.75%	05-Nov-21
November-15	USD	—	—	20	6.70%	18-Nov-22
Subtotal	USD	—	—	37
BBVA USA ⁽²⁾
March-06	USD	—	—	58	5.90%	01-Apr-26
April-15	USD	—	—	570	3.88%	10-Apr-25
Subtotal	USD	—	—	628

(1) The issuances of BBVA Global Finance, Ltd, are guaranteed (secondary liability) by the Bank.

(2) Companies sold in 2022 (see Note 3).

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Outstanding as of December 31, 2022, 2021 and 2020 of subordinated issues

		Millions of Euros
Issuer entity and issued date	Currency	December 2022	December 2021	December 2020	Prevailing Interest Rate as of December 31, 2022	Maturity Date
BBVA COLOMBIA S.A.
September-11	COP	—	—	25	4.45%	19-Sep-21
September-11	COP	30	35	37	17.82%	19-Sep-26
February-13	COP	39	44	47	16.58%	19-Feb-23
February-13	COP	32	37	39	16.91%	19-Feb-28
November-14	COP	18	20	21	17.46%	26-Nov-29
November-14	COP	20	32	30	17.59%	26-Nov-34
Subtotal	COP	139	168	200
April-15	USD	375	349	324	4.93%	21-Apr-25
Subtotal	USD	375	349	324
BBVA BANCO CONTINENTAL S.A.
June-07	PEN	23	19	18	3.47%	18-Jun-32
November-07	PEN	21	17	16	3.56%	19-Nov-32
July-08	PEN	18	15	15	3.06%	08-Jul-23
September-08	PEN	20	16	16	3.09%	09-Sep-23
December-08	PEN	12	10	9	4.19%	15-Dec-33
Subtotal	PEN	93	77	74
May-07	USD	—	18	16	6.00%	14-May-27
February-08	USD	19	18	17	6.47%	28-Feb-28
October-13	USD	43	40	37	6.53%	02-Oct-28
September-14	USD	270	272	257	5.25%	22-Sep-29
Subtotal	USD	332	349	327
GARANTI BBVA AS
May-17	USD	698	645	607	7.18%	24-May-27
Subtotal	USD	698	645	607
October-19	TRY	13	17	28	10.66%	07-Oct-29
February-20	TRY	38	49	82	12.33%	14-Feb-30
Subtotal	TRY	50	66	110
Total issues in other currencies		6,326	7,398	8,217

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Outstanding as of December 31, 2022, 2021 and 2020 of subordinated issues (Millions of Euros)

	Diciembre 2022		Diciembre 2021		Diciembre 2020
Issuer entity and issued date	Currency	Amount Issued	Currency	Amount Issued	Currency	Amount Issued
BBVA COLOMBIA S.A.
December-93	COP	—	COP	—	COP	—
BBVA International Preferred, S.A.U.
July-07	GBP	—	GBP	—	GBP	35
PHOENIX LOAN HOLDINGS INC.
November-00	USD	—	USD	—	USD	17
CAIXA TERRASSA SOCIETAT DE PARTICIPACIONS PREFERENTS SAU
August-05	EUR	—	EUR	—	EUR	74
CAIXASABADELL PREFERENTS S.A.
July-06	EUR	—	EUR	—	EUR	85

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APPENDIX VII Consolidated balance sheets held in foreign currency as of December 31, 2022, 2021 and 2020

	U.S. Dollar	Mexican pesos	Turkish lira	Other foreign currencies	Total foreign currencies
December 2022 Assets
Cash, cash balances at central banks and other demand deposits	19,888	4,831	476	3,469	28,665
Financial assets held for trading	10,780	22,407	431	3,930	37,549
Non- trading financial assets mandatorily at fair value through profit or loss	987	5,205	5	82	6,280
Financial assets at fair value through comprehensive income	8,300	9,809	3,188	8,666	29,964
Financial assets at amortized cost	52,248	78,017	29,938	42,479	202,682
Joint ventures and associates	5	17	—	333	354
Tangible assets	14	2,143	1,166	1,137	4,459
Other assets	(365)	4,403	1,796	3,055	8,889
Total	91,858	126,832	37,001	63,151	318,842
Liabilities
Financial liabilities held for trading	9,722	18,110	234	1,499	29,564
Financial liabilities at amortized cost	77,697	75,020	24,567	48,994	226,278
Other liabilities	2,748	17,210	1,220	2,160	23,338
Total	90,167	110,340	26,021	52,652	279,180
December 2021
Assets
Cash, cash balances at central banks and other demand deposits	19,164	5,816	893	4,245	30,118
Financial assets held for trading	10,699	18,973	1,104	8,840	39,615
Non- trading financial assets mandatorily at fair value through profit or loss	1,039	4,114	2	83	5,239
Financial assets at fair value through comprehensive income	6,455	9,323	2,325	8,697	26,800
Financial assets at amortized cost	46,223	57,580	21,655	38,657	164,115
Joint ventures and associates	5	15	—	263	283
Tangible assets	12	1,902	558	935	3,408
Other assets	(204)	3,607	1,046	1,248	5,697
Total	83,393	101,331	27,583	62,969	275,276
Liabilities
Financial liabilities held for trading	10,448	13,784	450	1,312	25,994
Financial liabilities at amortized cost	67,306	60,570	14,946	43,859	186,681
Other liabilities	3,261	13,234	779	2,029	19,302
Total	81,015	87,588	16,175	47,200	231,977
December 2020
Assets
Cash, cash balances at central banks and other demand deposits	16,615	4,847	772	4,130	26,365
Financial assets held for trading	5,114	22,154	359	6,112	33,740
Non- trading financial assets mandatorily at fair value through profit or loss	883	3,369	7	291	4,549
Financial assets at fair value through comprehensive income	7,073	7,723	2,489	8,087	25,373
Financial assets at amortized cost	39,841	53,184	26,810	38,036	157,871
Joint ventures and associates	5	14	—	246	265
Tangible assets	15	1,819	858	852	3,544
Other assets	83,406	2,053	1,191	2,009	88,658
Total	152,953	95,163	32,486	59,764	340,366
Liabilities
Financial liabilities held for trading	4,562	18,489	471	772	24,295
Financial liabilities at amortized cost	67,165	54,429	18,930	43,468	183,993
Other liabilities	78,724	6,662	687	7,393	93,466
Total	150,452	79,580	20,088	51,633	301,753

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This Appendix is an integral part of Notes 2.2.15 of the consolidated financial statements for the year ended December 31, 2022.

APPENDIX VIII. Consolidated income statements for the first and second half of 2022 and 2021

CONSOLIDATED INCOME STATEMENTS (Millions of Euros)

	Six months ended June 30, 2022	Six months ended December 31, 2022	Six months ended June 30, 2021 ⁽¹⁾	Six months ended December 31, 2021 ⁽¹⁾
Interest and other income	13,403	18,029	10,962	12,053
Financial assets at fair value through other comprehensive income	1,304	1,806	814	1,066
Financial assets at amortized cost	10,395	14,863	8,849	9,515
Other interest income	1,704	1,360	1,299	1,472
Interest expense	(4,852)	(7,427)	(4,007)	(4,322)
NET INTEREST INCOME	8,551	10,603	6,955	7,731
Dividend income	76	47	125	50
Share of profit or loss of entities accounted for using the equity method	15	6	(5)	6
Fee and commission income	3,964	4,297	3,311	3,686
Fee and commission expense	(1,314)	(1,594)	(996)	(1,235)
Gains (losses) on derecognition of financial assets and liabilities not measured at fair value through profit or loss, net	39	25	121	13
Financial assets at amortized cost	8	—	5	22
Other financial assets and liabilities	31	25	115	(9)
Gains (losses) on financial assets and liabilities held for trading, net	11	551	463	(122)
Reclassification of financial assets from fair value through other comprehensive income	—	—	—	—
Reclassification of financial assets from amortized cost	—	—	—	—
Other gains (losses)	11	551	463	(122)
Gains (losses) on non-trading financial assets mandatorily at fair value through profit or loss, net	(35)	(32)	280	152
Reclassification of financial assets from fair value through other comprehensive income	—	—	—	—
Reclassification of financial assets from amortized cost	—	—	—	—
Other gains (losses)	(35)	(32)	280	152
Gains (losses) on financial assets and liabilities designated at fair value through profit or loss, net	348	(198)	96	239
Gains (losses) from hedge accounting, net	16	(61)	(81)	(133)
Exchange differences, net	716	559	206	677
Other operating income	297	231	340	321
Other operating expense	(1,803)	(1,635)	(997)	(1,044)
Income from insurance and reinsurance contracts	1,537	1,566	1,350	1,243
Expense from insurance and reinsurance contracts	(908)	(984)	(909)	(776)
GROSS INCOME	11,509	13,381	10,259	10,807
Administration costs	(4,401)	(5,031)	(3,983)	(4,313)
Personnel expense	(2,587)	(3,025)	(2,371)	(2,675)
Other administrative expense	(1,815)	(2,006)	(1,612)	(1,638)
Depreciation and amortization	(652)	(676)	(615)	(619)
Provisions or reversal of provisions	(112)	(179)	(928)	(90)
Impairment or reversal of impairment on financial assets not measured at fair value through profit or loss or net gains by modification	(1,441)	(1,938)	(1,580)	(1,454)
Financial assets measured at amortized cost	(1,391)	(1,912)	(1,587)	(1,430)
Financial assets at fair value through other comprehensive income	(50)	(26)	8	(25)
NET OPERATING INCOME	4,903	5,556	3,153	4,331
Impairment or reversal of impairment of investments in joint ventures and associates	19	24	—	—
Impairment or reversal of impairment on non-financial assets	—	(27)	(196)	(26)
Tangible assets	22	31	(158)	(3)
Intangible assets	(5)	(20)	(5)	(14)
Other assets	(17)	(38)	(33)	(8)
Gains (losses) on derecognition of non-financial assets and subsidiaries, net	(15)	4	5	19
Negative goodwill recognized in profit or loss	—	—	—	—
Gains (losses) from non-current assets and disposal groups classified as held for sale not qualifying as discontinued operations	(120)	13	(73)	33
PROFIT (LOSS) BEFORE TAX FROM CONTINUING OPERATIONS	4,787	5,569	2,889	4,358
Tax expense or income related to profit or loss from continuing operations	(1,668)	(1,861)	(782)	(1,127)
PROFIT (LOSS) AFTER TAX FROM CONTINUING OPERATIONS	3,119	3,708	2,107	3,231
Profit (loss) after tax from discontinued operations	—	—	280	—
PROFIT (LOSS)	3,119	3,708	2,387	3,231
ATTRIBUTABLE TO MINORITY INTEREST (NON-CONTROLLING INTEREST)	117	290	476	489
ATTRIBUTABLE TO OWNERS OF THE PARENT	3,001	3,419	1,911	2,742

(1) Presented for comparison purposes only.

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EARNINGS (LOSSES) PER SHARE (Euros)

	Six months ended June 30, 2022	Six months ended December 31, 2022	Six months ended June 30, 2021 ⁽¹⁾	Six months ended December 31, 2021 ⁽¹⁾
EARNINGS (LOSSES) PER SHARE (Euros)	0.45	0.54	0.26	0.41
Basic earnings (losses) per share from continuing operations	0.45	0.54	0.21	0.41
Diluted earnings (losses) per share from continuing operations	0.45	0.54	0.21	0.41
Basic earnings (losses) per share from discontinued operations	—	—	0.04	—
Diluted earnings (losses) per share from discontinued operations	—	—	0.04	—

(1) Presented for comparison purposes only.

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APPENDIX IX. Financial Statements of Banco Bilbao Vizcaya Argentaria, S.A.

ASSETS (Millions of Euros)

	2022	2021 ⁽¹⁾
CASH, CASH BALANCES AT CENTRAL BANKS AND OTHER DEMAND DEPOSITS	52,973	38,821
FINANCIAL ASSETS HELD FOR TRADING	91,391	105,391
Derivatives	35,023	28,389
Equity instruments	3,361	15,146
Debt securities	11,318	11,546
Loans and advances to central banks	1,632	3,467
Loans and advances to credit institutions	23,969	31,300
Loans and advances to customers	16,089	15,543
NON-TRADING FINANCIAL ASSETS MANDATORILY AT FAIR VALUE THROUGH PROFIT OR LOSS	546	437
Equity instruments	438	172
Debt securities	107	125
Loans and advances to central banks	—	—
Loans and advances to credit institutions	—	—
Loans and advances to customers	—	140
FINANCIAL ASSETS DESIGNATED AT FAIR VALUE THROUGH PROFIT OR LOSS	—	—
FINANCIAL ASSETS AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME	24,854	28,205
Equity instruments	977	1,103
Debt securities	23,877	27,102
FINANCIAL ASSETS AT AMORTIZED COST	246,950	231,276
Debt securities	25,313	22,312
Loans and advances to central banks	10	254
Loans and advances to credit institutions	9,329	8,371
Loans and advances to customers	212,297	200,339
DERIVATIVES - HEDGE ACCOUNTING	1,169	841
FAIR VALUE CHANGES OF THE HEDGED ITEMS IN PORTFOLIO HEDGES OF INTEREST RATE RISK	(148)	5
INVESTMENTS IN SUBSIDIARIES, JOINT VENTURES AND ASSOCIATES	21,960	17,504
Subsidiaries	21,644	17,226
Joint ventures	36	54
Associates	280	225
TANGIBLE ASSETS	3,531	3,482
Properties, plant and equipment	3,432	3,396
For own use	3,432	3,396
Other assets leased out under an operating lease	—	—
Investment properties	99	87
INTANGIBLE ASSETS	855	841
Goodwill	—	—
Other intangible assets	855	841
TAX ASSETS	12,479	12,294
Current tax assets	1,629	546
Deferred tax assets	10,850	11,748
OTHER ASSETS	1,677	2,296
Insurance contracts linked to pensions	1,337	1,882
Inventories	—	—
Other	340	414
NON-CURRENT ASSETS AND DISPOSAL GROUPS CLASSIFIED AS HELD FOR SALE	651	885
TOTAL ASSETS	458,888	442,279

(1) Presented for comparison purposes only.

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LIABILITIES AND EQUITY (Millions of Euros)

	2022	2021 ⁽¹⁾
FINANCIAL LIABILITIES HELD FOR TRADING	80,853	77,859
Derivatives	30,954	27,054
Short positions	11,408	13,148
Deposits from central banks	2,161	8,946
Deposits from credit institutions	28,107	14,821
Customer deposits	8,224	13,890
Debt certificates	—	—
Other financial liabilities	—	—
FINANCIAL LIABILITIES DESIGNATED AT FAIR VALUE THROUGH PROFIT OR LOSS	1,859	2,238
Deposits from central banks	—	—
Deposits from credit institutions	—	—
Customer deposits	1,859	2,238
Debt certificates	—	—
Other financial liabilities	—	—
Subordinated liabilities	—	—
FINANCIAL LIABILITIES AT AMORTIZED COST	335,941	321,848
Deposits from central banks	32,517	40,839
Deposits from credit institutions	20,200	14,936
Customer deposits	234,797	216,452
Debt certificates	38,511	37,866
Other financial liabilities	9,915	11,756
Memorandum item: Subordinated liabilities	9,106	9,912
DERIVATIVES - HEDGE ACCOUNTING	2,599	2,126
FAIR VALUE CHANGES OF THE HEDGED ITEMS IN PORTFOLIO HEDGES OF INTEREST RATE RISK	—	—
PROVISIONS	3,385	4,488
Pensions and other post-employment defined benefit obligations	2,085	3,027
Other long term employee benefits	433	600
Provisions for taxes and other legal contingencies	388	401
Commitments and guarantees given	280	310
Other provisions	198	150
TAX LIABILITIES	943	999
Current tax liabilities	190	187
Deferred tax liabilities	753	812
OTHER LIABILITIES	2,552	1,885
LIABILITIES INCLUDED IN DISPOSAL GROUPS CLASSIFIED AS HELD FOR SALE	—	—
TOTAL LIABILITIES	428,133	411,443

⁽¹⁾ Presented for comparison purposes only.

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LIABILITIES AND EQUITY (Continued) (Millions of Euros)

	2022	2021 ⁽¹⁾
STOCKHOLDERS’ FUNDS	32,928	32,296
Capital	2,955	3,267
Paid up capital	2,955	3,267
Unpaid capital which has been called up	—	—
Share premium	20,856	23,599
Equity instruments issued other than capital	—	—
Equity component of compound financial instruments	—	—
Other equity instruments issued	—	—
Other equity	49	49
Retained earnings	5,453	6,436
Revaluation reserves	—	—
Other reserves	(474)	(1,026)
Less: treasury shares	(3)	(574)
Profit or loss attributable to owners of the parent	4,816	1,080
Less: interim dividends	(724)	(533)
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	(2,172)	(1,461)
Items that will not be reclassified to profit or loss	(1,215)	(1,177)
Actuarial gains (losses) on defined benefit pension plans	(32)	(52)
Non-current assets and disposal groups classified as held for sale	—	—
Fair value changes of equity instruments measured at fair value through other comprehensive income	(1,256)	(1,127)
Hedge ineffectiveness of fair value hedges for equity instruments measured at fair value through other comprehensive income	—	—
Fair value changes of equity instruments measured at fair value through other comprehensive income (hedged item)	—	—
Fair value changes of equity instruments measured at fair value through other comprehensive income (hedging instrument)	—	—
Fair value changes of financial liabilities at fair value through profit or loss attributable to changes in their credit risk	72	2
Items that may be reclassified to profit or loss	(957)	(284)
Hedge of net investments in foreign operations (effective portion)	—	—
Foreign currency translation	—	—
Hedging derivatives. Cash flow hedges (effective portion)	(492)	(626)
Fair value changes of debt instruments measured at fair value through other comprehensive income	(464)	342
Hedging instruments (non-designated items)	—	—
Non-current assets and disposal groups classified as held for sale	—	—
TOTAL EQUITY	30,756	30,836
TOTAL EQUITY AND TOTAL LIABILITIES	458,888	442,279

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MEMORANDUM ITEM - OFF BALANCE SHEET EXPOSURES (Millions of Euros)

	2022	2021 ⁽¹⁾
Loan commitments given	95,948	89,353
Financial guarantees given	16,305	11,662
Other commitments given	26,850	24,181

⁽¹⁾ Presented for comparison purposes only

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INCOME STATEMENTS (Millions of Euros)

	2022	2021 ⁽¹⁾
Interest income	5,903	4,289
Financial assets at fair value through other comprehensive income	498	235
Financial assets at amortized cost	5,416	3,426
Other interest income	(11)	628
Interest expense	(2,083)	(861)
NET INTEREST INCOME	3,821	3,428
Dividend income	3,470	1,808
Fee and commission income	2,612	2,515
Fee and commission expense	(489)	(463)
Gains (losses) on derecognition of financial assets and liabilities not measured at fair value through profit or loss, net	1	84
Financial assets at amortized cost	—	23
Other financial assets and liabilities	1	61
Gains or (losses) on financial assets and liabilities held for trading, net	438	295
Reclassification of financial assets from fair value through other comprehensive income	—	—
Reclassification of financial assets from amortized cost	—	—
Other profit or loss	438	295
Gains (losses) on non-trading financial assets mandatorily at fair value through profit or loss, net	(51)	114
Reclassification of financial assets from fair value through other comprehensive income	—	—
Reclassification of financial assets from amortized cost	—	—
Other profit or loss	(51)	114
Gains (losses) on financial assets and liabilities designated at fair value through profit or loss, net	128	45
Gains (losses) from hedge accounting, net	—	(36)
Exchange differences, net	(122)	56
Other operating income	339	170
Other operating expense	(642)	(546)
GROSS INCOME	9,503	7,470
Administrative expense	(3,755)	(3,693)
Personnel expense	(2,217)	(2,237)
Other administrative expense	(1,538)	(1,456)
Depreciation and amortization	(638)	(639)
Provisions or reversal of provisions	(50)	(950)
Impairment or reversal of impairment on financial assets not measured at fair value through profit or loss or net gains by modification	(521)	(475)
Financial assets measured at amortized cost	(504)	(482)
Financial assets at fair value through other comprehensive income	(16)	7
NET OPERATING INCOME	4,539	1,714
Impairment or reversal of impairment of investments in subsidiaries, joint ventures and associates	642	(911)
Impairment or reversal of impairment on non-financial assets	7	(167)
Tangible assets	21	(164)
Intangible assets	(15)	(4)
Other assets	1	1
Gains (losses) on derecognition of non - financial assets and subsidiaries, net	—	3
Negative goodwill recognized in profit or loss	—	—
Gains (losses) from non-current assets and disposal groups classified as held for sale not qualifying as discontinued operations	(26)	107
PROFIT (LOSS) BEFORE TAX FROM CONTINUING OPERATIONS	5,163	746
Tax expense or income related to profit or loss from continuing operations	(347)	58
PROFIT (LOSS) AFTER TAX FROM CONTINUING OPERATIONS	4,816	803
Profit (loss) after tax from discontinued operations	—	277
PROFIT (LOSS) FOR THE YEAR	4,816	1,080

⁽¹⁾ Presented for comparison purposes only.

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STATEMENTS OF RECOGNIZED INCOME AND EXPENSE (Millions of Euros)

	2022	2021 ⁽¹⁾
PROFIT RECOGNIZED IN INCOME STATEMENT	4,816	1,080
OTHER RECOGNIZED INCOME (EXPENSE)	(713)	(349)
ITEMS NOT SUBJECT TO RECLASSIFICATION TO INCOME STATEMENT	(40)	186
Actuarial gains (losses) from defined benefit pension plans	32	(4)
Non-current assets and disposal groups classified as held for sale	—	—
Fair value changes of equity instruments measured at fair value through other comprehensive income	(129)	167
Gains (losses) from hedge accounting of equity instruments at fair value through other comprehensive income, net	—	—
Fair value changes of financial liabilities at fair value through profit or loss attributable to changes in their credit risk	100	33
Other valuation adjustments	—	—
Income tax related to items not subject to reclassification to income statement	(43)	(10)
ITEMS SUBJECT TO RECLASSIFICATION TO INCOME STATEMENT	(673)	(535)
Hedge of net investments in foreign operations [effective portion]	—	—
Valuation gains (losses) taken to equity	—	—
Transferred to profit or loss	—	—
Other reclassifications	—	—
Cash flow hedges [effective portion]	191	(705)
Valuation gains (losses) taken to equity	191	(705)
Transferred to profit or loss	—	—
Transferred to initial carrying amount of hedged items	—	—
Other reclassifications	—	—
Hedging instruments [non-designated elements]	—	—
Valuation gains (losses) taken to equity	—	—
Transferred to profit or loss	—	—
Other reclassifications	—	—
Debt securities at fair value through other comprehensive income	(1,152)	(14)
Valuation gains (losses) taken to equity	(1,148)	49
Transferred to profit or loss	(4)	(63)
Other reclassifications	—	—
Non-current assets and disposal groups held for sale	—	—
Valuation gains (losses) taken to equity	—	—
Income tax relating to items subject to reclassification to income statements	288	184
TOTAL RECOGNIZED INCOME/EXPENSE	4,102	731

⁽¹⁾ Presented for comparison purposes only.

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Statement of changes in equity for the year ended December 31, 2022 of BBVA, S.A.

STATEMENT OF CHANGES IN EQUITY (Millions of Euros)

2022	Capital	Share Premium	Equity instruments issued other than capital	Other Equity	Retained earnings	Revaluation reserves	Other reserves	(-) Treasury shares	Profit or loss attributable to owners of the parent	(-) Interim dividends	Accumulated other comprehensive income	Total
Balances as of January 1, 2022	3,267	23,599	—	49	6,436	—	(1,026)	(574)	1,080	(533)	(1,461)	30,836
Total income/expense recognized	—	—	—	—	—	—	—	—	4,816	—	(713)	4,102
Other changes in equity	(313)	(2,743)	—	1	(983)	—	553	572	(1,080)	(190)	1	(4,182)
Issuances of common shares	—	—	—	—	—	—	—	—	—	—	—	—
Issuances of preferred shares	—	—	—	—	—	—	—	—	—	—	—	—
Issuance of other equity instruments	—	—	—	—	—	—	—	—	—	—	—	—
Period or maturity of other issued equity instruments	—	—	—	—	—	—	—	—	—	—	—	—
Conversion of debt on equity	—	—	—	—	—	—	—	—	—	—	—	—
Common Stock reduction	(313)	(2,743)	—	—	250	—	(355)	3,160	—	—	—	—
Dividend distribution	—	—	—	—	(1,467)	—	—	—	—	(724)	—	(2,190)
Purchase of treasury shares	—	—	—	—	—	—	—	(2,879)	—	—	—	(2,879)
Sale or cancellation of treasury shares	—	—	—	—	—	—	(6)	291	—	—	—	285
Reclassification of financial liabilities to other equity instruments	—	—	—	—	—	—	—	—	—	—	—	—
Reclassification of other equity instruments to financial liabilities	—	—	—	—	—	—	—	—	—	—	—	—
Transfers between total equity entries	—	—	—	1	547	—	(2)	—	(1,080)	533	1	—
Increase/Reduction of equity due to business combinations	—	—	—	—	—	—	—	—	—	—	—	—
Share based payments	—	—	—	—	—	—	—	—	—	—	—	—
Other increases or (-) decreases in equity	—	—	—	—	(313)	—	916	—	—	—	—	602
Balances as of December 31, 2022	2,955	20,856	—	49	5,453	—	(474)	(3)	4,816	(724)	(2,172)	30,756

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Statement of changes in equity for the year ended December 31, 2021 of BBVA, S.A.

STATEMENT OF CHANGES IN EQUITY (Millions of Euros)

2021 ⁽¹⁾	Capital	Share Premium	Equity instruments issued other than capital	Other Equity	Retained earnings	Revaluation reserves	Other reserves	(-) Treasury shares	Profit or loss attributable to owners of the parent	(-) Interim dividends	Accumulated other comprehensive income	Total
Balances as of January 1, 2021	3,267	23,992	—	34	8,859	—	31	(9)	(2,182)	—	(1,124)	32,867
Total income/expense recognized	—	—	—	—	—	—	—	—	1,080	—	(349)	731
Other changes in equity	—	(393)	—	15	(2,423)	—	(1,058)	(565)	2,182	(533)	13	(2,763)
Issuances of common shares	—	—	—	—	—	—	—	—	—	—	—	—
Issuances of preferred shares	—	—	—	—	—	—	—	—	—	—	—	—
Issuance of other equity instruments	—	—	—	—	—	—	—	—	—	—	—	—
Settlement or maturity of other equity instruments issued	—	—	—	—	—	—	—	—	—	—	—	—
Conversion of debt on equity	—	—	—	—	—	—	—	—	—	—	—	—
Common Stock reduction	—	—	—	—	—	—	—	—	—	—	—	—
Dividend distribution	—	(393)	—	—	—	—	—	—	—	(533)	—	(927)
Purchase of treasury shares	—	—	—	—	—	—	—	(925)	—	—	—	(925)
Sale or cancellation of treasury shares	—	—	—	—	—	—	(4)	360	—	—	—	356
Reclassification of other equity instruments to financial liabilities	—	—	—	—	—	—	—	—	—	—	—	—
Reclassification of financial liabilities to other equity instruments	—	—	—	—	—	—	—	—	—	—	—	—
Transfers within total equity	—	—	—	(2)	(2,064)	—	(129)	—	2,182	—	13	—
Increase/Reduction of equity due to business combinations	—	—	—	—	—	—	—	—	—	—	—	—
Share based payments	—	—	—	—	—	—	—	—	—	—	—	—
Other increases or (-) decreases in equity	—	—	—	17	(359)	—	(925)	—	—	—	—	(1,267)
Balances as of December 31, 2021	3,267	23,599	—	49	6,436	—	(1,026)	(574)	1,080	(533)	(1,461)	30,836

⁽¹⁾ Presented for comparison purposes only.

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CASH FLOWS STATEMENTS (Millions of Euros)

	2022	2021 ⁽¹⁾
A) CASH FLOWS FROM OPERATING ACTIVITIES (1+2+3+4+5)	23,057	(12,004)
1.Profit (loss) for the year	4,816	1,080
2.Adjustments to obtain the cash flow from operating activities:	(629)	1,313
Depreciation and amortization	638	639
Other adjustments	(1,268)	674
3.Net increase/decrease in operating assets	696	(15,123)
Financial assets held for trading	13,999	(20,093)
Non-trading financial assets mandatorily at fair value through profit or loss	(109)	(26)
Other financial assets designated at fair value through profit or loss	—	—
Financial assets at fair value through other comprehensive income	3,351	9,323
Financial assets at amortized cost	(15,757)	(5,494)
Other operating assets	(788)	1,167
4.Net increase/decrease in operating liabilities	18,825	928
Financial liabilities held for trading	2,995	10,724
Other financial liabilities designated at fair value through profit or loss	(379)	(1,029)
Financial liabilities at amortized cost	15,480	(9,209)
Other operating liabilities	729	443
5.Collection/Payments for income tax	(651)	(202)
B) CASH FLOWS FROM INVESTING ACTIVITIES (1+2)	(2,753)	10,049
1.Investment	(3,937)	(502)
Tangible assets	(60)	(56)
Intangible assets	(360)	(319)
Investments in subsidiaries, joint ventures and associates	(3,516)	(116)
Other business units	—	—
Non-current assets and disposal groups classified as held for sale and associated liabilities	—	(12)
Other settlements related to investing activities	—	—
2.Divestments	1,184	10,551
Tangible assets	6	21
Intangible assets	—	—
Investments in subsidiaries, joint ventures and associates	852	77
Other business units	—	—
Non-current assets and disposal groups classified as held for sale and associated liabilities	326	10,453
Other collections related to investing activities	—	—
C) CASH FLOWS FROM FINANCING ACTIVITIES (1 + 2)	(5,921)	(3,028)
1. Payments	(6,190)	(3,540)
Dividends (shareholders remuneration)	(2,190)	(927)
Subordinated liabilities	(881)	(1,684)
Treasury stock amortization	(313)	—
Treasury share acquisition	(2,567)	(929)
Other items relating to financing activities	(240)	—
2. Collections	270	512
Subordinated liabilities	—	—
Common stock increase	—	—
Treasury share disposal	270	356
Other items relating to financing activities	—	156
D) EFFECT OF EXCHANGE RATE CHANGES	(231)	(303)
E) NET INCREASE/DECREASE IN CASH OR CASH EQUIVALENTS (A+B+C+D)	14,153	(5,286)
F) CASH AND CASH EQUIVALENTS AT BEGINNING OF THE YEAR	38,821	44,107
G) CASH AND CASH EQUIVALENTS AT END OF THE YEAR (E+F)	52,973	38,821

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COMPONENTS OF CASH AND EQUIVALENTS AT END OF THE YEAR (Millions of Euros)

	2022	2021 ⁽¹⁾
Cash	972	830
Balance of cash equivalent in central banks	49,854	36,566
Other financial assets	2,147	1,424
Less: Bank overdraft refundable on demand	—	—
TOTAL CASH AND CASH EQUIVALENTS AT END OF THE YEAR	52,973	38,821

⁽¹⁾ Presented for comparison purposes only.

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This Appendix is an integral part of Notes 2.1 of the consolidated financial statements for the year ended December 31, 2022.

APPENDIX X. Information on data derived from the special accounting registry and other information bonds

The Bank has implemented policies and procedures for its activities in the mortgage market and in the financing of exportation of goods and services or the process of internationalization of companies, which allow ensuring compliance with the applicable regulations of the mortgage market and for the issuance of bonds.

a) Mortgage market policies and procedures

Information required pursuant to Circular 5/2011 of the Bank of Spain is indicated as follows.

The mortgage origination policy is based on principles focused on assessing the adequate ratio between the amount of the loan, and the payments, and the income of the applicant. Applicants must in all cases prove sufficient repayment ability (present and future) to meet their repayment obligations, for both the mortgage debt and for other debts detected in the financial system. Therefore, the applicant’s repayment ability is a key aspect within the credit decision-making tools and retail risk acceptance manuals, and has a high weighting in the final decision.

During the mortgage risk transaction analysis process, documentation supporting the applicant’s income (payroll, etc.) is required, and the applicant’s position in the financial system is checked through automated database queries (internal and external). This information is used for calculation purposes in order to determine the level of indebtedness/compliance with the remainder of the system. This documentation is kept in the transaction’s file.

In addition, the mortgage origination policy assesses the adequate ratio between the amount of the loan and the appraisal value of the mortgaged asset. The policy also establishes that the property to be mortgaged be appraised by an independent appraisal company as established by Circular 4/2017. BBVA selects those companies whose reputation, standing in the market and independence ensure that their appraisals adapt to the market reality in each region. Each appraisal is reviewed and checked before the loan is granted and, in those cases where the loan is finally granted, it is kept in the transaction’s file.

As for issues related to the mortgage market, the Finance area annually defines the strategy for wholesale finance issues, and more specifically mortgage bond issues, such as mortgage covered bonds or mortgage securitization. The Assets and Liabilities Committee tracks the budget monthly. The volume and type of assets in these transactions is determined in accordance with the wholesale finance plan, the trend of the Bank’s “Loans and advances” outstanding balances and the conditions in the market.

The Board of Directors of the Bank authorizes each of the issues of Mortgage Transfer Certificates and/or Mortgage Participations issued by BBVA to securitize the credit rights derived from loans and mortgage loans. Likewise, the Board of Directors authorizes the establishment of a Base Prospectus for the issuance of fixed-income securities through which the mortgage-covered bonds are implemented.

As established on the applicable regulation, the Bank has set up a series of controls for mortgage covered bonds, which regularly control the total volume of issued mortgage covered bonds issued and the collateral which serves as guarantee and the eligible collateral, to avoid exceeding any limit which is applicable in accordance with the applicable regulations at any time. In the case of securitizations, the preliminary portfolio of loans and mortgage loans to be securitized is checked according to an agreed procedures engagement, by an independent expert from outside the Bank. There is also a series of filters through which some mortgage loans and credits are excluded in accordance with legal, commercial and risk concentration criteria.

b) Quantitative information on activities in the mortgage market

The quantitative information on activities in the mortgage market required by Bank of Spain Circular 5/2011 as of December 31, 2022 and 2021 is shown below.

b.1) Ongoing operations¹

Mortgage loans. Eligibility for the purpose of the mortgage market (Millions of Euros)

		2022	2021
Nominal value of outstanding loans and mortgage loans	(A)	82,753	86,112
Minus: Nominal value of all outstanding loans and mortgage loans that form part of the portfolio, but have been mobilized through mortgage bond holdings or mortgage transfer certificates.	(B)	(26,197)	(27,106)
Nominal value of outstanding loans and mortgage loans, excluding securitized loans	(A)-(B)	56,556	59,006
Of which: Loans and mortgage loans which would be eligible if the calculation limits set forth in Article 12 of Spanish Royal Decree 716/2009 were not applied.	(C)	42,607	45,006
Of which: Minus: Loans and mortgage loans which would be eligible but, according to the criteria set forth in Article 12 of Spanish Royal Decree 716/2009, cannot be used to collateralize any issuance of mortgage bonds.	(D)	(611)	(1,043)
Eligible loans and mortgage loans that, according to the criteria set forth in Article 12 of Spanish Royal Decree 716/2009, can be used as collateral for the issuance of mortgage bonds	(C)-(D)	41,996	43,963
Issuance limit: 80% of eligible loans and mortgage loans that can be used as collateral	(E )	33,597	35,170
Issued Mortgage-covered bonds	(F)	23,276	31,899
Outstanding Mortgage-covered bonds		7,775	9,399
Capacity to issue mortgage-covered bonds	(E)-(F)	10,321	3,271
Memorandum items:
Percentage of overcollateralization across the portfolio		243%	185%
Percentage of overcollateralization across the eligible used portfolio		180%	138%
Nominal value of available sums (committed and unused) from all loans and mortgage loans.		6,409	5,765
Of which: Potentially eligible		5,146	4,972
Of which: Ineligible		1,263	793
Nominal value of all loans and mortgage loans that are not eligible, as they do not meet the thresholds set in Article 5.1 of Spanish Royal Decree 716/2009, but do meet the rest of the eligibility requirements indicated in Article 4 of the Royal Decree.		5,915	7,623
Nominal value of the replacement assets subject to the issue of mortgage-covered bonds.		—	—

⁽¹⁾ The issues of Covered Bonds are subject to the provisions of Royal Decree-Law 24/2021 from its entry into force on July 8, 2022

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Mortgage loans. Eligibility for the purpose of the mortgage market (Millions of Euros)

		2021	2020
Total loans	(1)	82,753	86,112
Issued mortgage participations	(2)	8,604	3,703
Of which: recognized on the balance sheet		7,666	2,632
Issued mortgage transfer certificates	(3)	17,593	23,403
Of which: recognized on the balance sheet		16,019	21,530
Mortgage loans as collateral of mortgages bonds	(4)	—	—
Loans supporting the issuance of mortgage-covered bonds	1-2-3-4	56,556	59,006
Non eligible loans		13,949	14,000
Comply requirements to be eligible except the limit provided for under the article 5.1 of the Spanish Royal Decree 716/2009		5,915	7,623
Other		8,034	6,377
Eligible loans		42,607	45,006
That cannot be used as collateral for issuances		611	1,043
That can be used as collateral for issuances		41,996	43,963
Loans used to collateralize mortgage bonds		—	—
Loans used to collateralize mortgage-covered bonds		41,996	43,963

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Mortgage loans. Classification of the nominal values according to different characteristics (Millions of Euros)

	2022			2021
	Total mortgage loans	Eligible Loans ⁽¹⁾	Eligibles that can be used as collateral for issuances ⁽²⁾	Total mortgage loans	Eligible Loans ⁽¹⁾	Eligibles that can be used as collateral for issuances ⁽²⁾
Total	56,556	42,607	41,996	59,006	45,006	43,963
By source of the operations
Originated by the bank	52,698	39,463	38,867	54,830	41,426	40,413
Subrogated by other institutions	706	532	532	687	549	545
Rest	3,152	2,612	2,597	3,489	3,031	3,005
By Currency
In Euros	56,399	42,532	41,921	58,873	44,908	43,865
In foreign currency	157	75	75	133	98	98
By payment situation
Normal payment	52,175	41,067	40,622	53,002	42,477	41,789
Other situations	4,381	1,540	1,374	6,004	2,529	2,174
By residual maturity
Up to 10 years	11,845	9,716	9,572	11,948	9,776	9,505
10 to 20 years	23,244	19,466	19,016	24,634	21,332	20,653
20 to 30 years	19,373	13,071	13,056	19,513	13,139	13,064
Over 30 years	2,094	354	352	2,911	759	741
By Interest rate
Fixed rate	17,632	14,020	13,991	16,657	12,529	12,462
Floating rate	38,924	28,587	28,005	42,349	32,477	31,501
Mixed rate	—	—	—	—	—	—
By target of operations
For business activity	9,017	5,689	5,107	9,494	6,316	5,482
Of which: RE development	1,758	1,157	577	2,116	1,415	695
Household and NPISHs	47,539	36,918	36,889	49,512	38,690	38,481
By type of guarantee
Secured by completed assets/buildings	54,952	41,753	41,427	57,390	44,052	43,275
Residential use	48,598	37,666	37,397	50,941	39,806	39,182
Of which: public housing	3,053	2,508	2,428	3,418	2,851	2,728
Commercial	6,334	4,086	4,029	6,407	4,236	4,083
Other	20	1	1	42	10	10
Secured by assets/buildings under construction	1,142	666	421	1,132	779	556
Residential use	813	515	270	836	619	400
Of which: public housing	1	—	—	1	—	—
Commercial	329	151	151	296	160	156
Other	—	—	—	—	—	—
Secured by land	462	188	148	484	175	132
Urban	171	76	38	178	73	33
Non-urban	291	112	110	306	102	99

⁽¹⁾ Not taking into account the thresholds established by article 12 of Spanish Royal Decree 716/2009.
⁽²⁾ Taking into account the thresholds established by article 12 of Spanish Royal Decree 716/2009.

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Nominal value of the total mortgage loans (Millions of Euros)

	Loan to Value (Last available appraisal risk)
	Less than or equal to 40%	Over 40% but less than or equal to 60%	Over 60% but less than or equal to 80%	Over 80%	Total
December 2022
Home mortgages	14,160	12,814	11,378	—	38,352
Other mortgages	2,387	1,868			4,255
Total	16,547	14,682	11,378	—	42,607
December 2021
Home mortgages	13,612	13,935	13,004	—	40,551
Other mortgages	2,264	2,191			4,455
Total	15,876	16,126	13,004	—	45,006

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Eligible and non-eligible mortgage loans. Changes of the nominal values in the period (Millions of Euros)

	2022		2021
	Eligible ⁽¹⁾	Non eligible	Eligible ⁽¹⁾	Non eligible
Balance at the beginning	45,006	14,000	44,854	16,350
Retirements	9,627	7,427	6,829	6,033
Held-to-maturity cancellations	3,962	1,198	4,008	1,013
Anticipated cancellations	2,247	751	2,283	971
Subrogations to other institutions	98	31	56	20
Rest	3,320	5,447	482	4,029
Additions	7,228	7,376	6,981	3,684
Originated by the bank	3,698	3,539	5,275	3,138
Subrogations to other institutions	63	41	25	10
Rest	3,467	3,796	1,682	535
Balance at the end	42,607	13,949	45,006	14,000

⁽¹⁾ Not taking into account the thresholds established by Article 12 of Spanish Royal Decree 716/2009.

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Mortgage loans supporting the issuance of mortgage-covered bonds. Nominal value (Millions of Euros)

	2022	2021
Potentially eligible	5,146	4,972
Ineligible	1,263	793
Total	6,409	5,765

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b.2) Liabilities operations

Issued Mortgage Bonds (Millions of Euros)

	2022		2021
	Nominal value	Average residual maturity	Nominal value	Average residual maturity
Mortgage bonds	—		—
Mortgage-covered bonds	23,276		31,899
Of which: non recognized as liabilities on balance	15,501		22,500
Of Which: outstanding	7,775		9,399
Debt securities issued through public offer	7,950		7,700
Residual maturity up to 1 year	2,250		1,250
Residual maturity over 1 year and less than 2 years	1,000		2,250
Residual maturity over 2 years and less than 3 years	2,000		1,000
Residual maturity over 3 years and less than 5 years	2,500		3,000
Residual maturity over 5 years and less than 10 years	—		—
Residual maturity over 10 years	200		200
Debt securities issued without public offer	14,105		22,610
Residual maturity up to 1 year	2,500		2,000
Residual maturity over 1 year and less than 2 years	—		9,000
Residual maturity over 2 years and less than 3 years	4,000		—
Residual maturity over 3 years and less than 5 years	4,605		8,500
Residual maturity over 5 years and less than 10 years	3,000		3,110
Residual maturity over 10 years	—		—
Deposits	1,221		1,589
Residual maturity up to 1 year	100		368
Residual maturity over 1 year and less than 2 years	—		100
Residual maturity over 2 years and less than 3 years	371		—
Residual maturity over 3 years and less than 5 years	100		371
Residual maturity over 5 years and less than 10 years	650		750
Residual maturity over 10 years	—		—
Mortgage participations	7,666	248	2,632	251
Issued through public offer	7,666	248	2,632	251
Issued without public offer	—	—	—	—
Mortgage transfer certificates	16,019	248	21,530	251
Issued through public offer	16,019	248	21,530	251
Issued without public offer	—	—	—	—

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Given the characteristics of the type of covered bonds issued by the Bank, there is no substituting collateral related to these issues.

The Bank does not hold any derivative financial instruments relating to mortgage bond issues, as defined in the aforementioned Royal Decree.

c) Quantitative information on internationalization covered bonds

Below is the quantitative information of BBVA, S.A. internationalization covered bonds required by Bank of Spain Circular 4/2017 as of December 31, 2022 and 2021:

c.1) Assets operations

Principal outstanding payment of loans (Millions of Euros)

	Nominal value 2022	Nominal value 2021
Eligible loans according to article 34.6 and 7 of the Law 14/2013	3,574	3,539
Minos: Loans that support the issuance of internationalization bonds	—	—
Minos: NPL to be deducted in the calculation of the issuance limit, according to Article 13 of Royal Decree 579/2014	1	15
Total Loans included in the base of all issuance limit	3,573	3,524

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c.2) Liabilities operations

Internationalization covered bonds (Millions of Euros)

	Nominal value 2022	Nominal value 2021
(1) Debt securities issued through public offer (a)	—	1,500
Of which: Treasury shares	—	1,500
Residual maturity up to 1 year	—	1,500
Residual maturity over 1 year and less than 2 years	—	—
Residual maturity over 2 years and less than 3 years	—	—
Residual maturity over 3 years and less than 5 years	—	—
Residual maturity over 5 years and less than 10 years	—	—
Residual maturity over 10 years	—	—
(2) Debt securities issued without public offer (a)	—	—
Of which: Treasury shares	—	—
Residual maturity up to 1 year	—	—
Residual maturity over 1 year and less than 2 years	—	—
Residual maturity over 2 years and less than 3 years	—	—
Residual maturity over 3 years and less than 5 years	—	—
Residual maturity over 5 years and less than 10 years	—	—
Residual maturity over 10 years	—	—
(3) Deposits (b)	—	—
Residual maturity up to 1 year	—	—
Residual maturity over 1 year and less than 2 years	—	—
Residual maturity over 2 years and less than 3 years	—	—
Residual maturity over 3 years and less than 5 years	—	—
Residual maturity over 5 years and less than 10 years	—	—
Residual maturity over 10 years	—	—
TOTAL: (1) + (2) + (3)	—	1,500
	Percentage	Percentage
Coverage ratio of internationalization covered bonds on loans (c)	—%	43%

(a) Balance that includes all internationalization covered bonds issued by the entity pending amortization although they are not recognized in the liability (because they have not been placed to third parties or have been repurchased).
(b) Nominative bonds.
(c) Percentage that results from the value of the quotient between the nominal value of the issued and non-overdue bonds, even if they are not recognized in the liability, and the nominal value balance pending collection of the loans that serve as guarantee.

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Given the characteristics of the Bank's internationalization covered bonds, there are no substitute assets assigned to these issuances.

d) Territorial bonds

d.1) Assets operations

Loans that serves as collateral for the territorial bonds

	Nominal Value (a)
	Total	Spanish Residents	Residents in other countries of the European Economic Area
December 2022
Central Governments	1,585	1,582	3
Regional Governments	7,131	7,105	26
Local Governments	3,678	3,678	—
Total loans	12,394	12,365	29
December 2021
Central Governments	1,435	1,422	13
Regional Governments	7,756	7,729	27
Local Governments	3,598	3,598	—
Total loans	12,789	12,749	40

(a) Principal pending payment of loans.

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d.2) Liabilities operations

Territorial bonds

	Nominal value 2022	Nominal value 2021
Territorial bonds issued (a)	6,240	6,540
Issued through a public offering	6,240	6,540
Of which: Treasury share	6,040	6,040
Residual maturity up to 1 year	200	840
Residual maturity over 1 year and less than 2 years	500	200
Residual maturity over 2 years and less than 3 years	3,000	500
Residual maturity over 3 years and less than 5 years	2,540	5,000
Residual maturity over 5 years and less than 10 years	—	—
Residual maturity over 10 years	—	—
Other issuances	—	—
Of which: Treasury share	—	—
Residual maturity over 1 year and less than 2 years	—	—
Residual maturity over 2 years and less than 3 years	—	—
Residual maturity over 3 years and less than 5 years	—	—
Residual maturity over 5 years and less than 10 years	—	—
Residual maturity over 10 years	—	—
	Percentage	Percentage
Coverage ratio of the territorial bonds on loans (b)	50%	51%

(a) Includes the nominal value of all loans that serve as collateral for the territorial bonds, regardless of the item in which they are included in the balance sheet. Principal pending payment of loans. The territorial bonds include all the instruments issued by the entity pending amortization, although they are not recognized in the liability (because they have not been placed to third parties or have been repurchased).
(b) Percentage that results from the value of the quotient between the nominal value of the issued and non-overdue bonds, even if they are not recognized in the liability, and the nominal value balance pending collection of the loans that serve as guarantee.

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This Appendix is an integral part of Notes 14.3, 22.4 and 55.3 of the consolidated financial statements for the year ended December 31, 2022.

APPENDIX XI. Quantitative information on refinancing and restructuring operations and other requirement under Bank of Spain Circular 6/2012

a) Quantitative information on refinancing and restructuring operations

The breakdown of refinancing and restructuring operations as of December 31, 2022, 2021 and 2020 is as follows:

	DECEMBER 2022 BALANCE OF FORBEARANCE (Millions of Euros)
	TOTAL
	Unsecured loans			Secured loans			Accumulated impairment or accumulated losses in fair value due to credit risk
					Maximum amount of secured loans that can be considered
	Number of operations	Gross carrying amount	Number of operations	Gross carrying amount	Real estate mortgage secured	Rest of secured loans
Credit institutions	—	—	—	—	—	—	—
General Governments	57	38	24	9	6	—	(9)
Other financial corporations and individual entrepreneurs (financial business)	303	10	22	6	1	3	(7)
Non-financial corporations and individual entrepreneurs (corporate non-financial activities)	75,713	5,882	8,687	2,792	1,238	223	(3,303)
Of which: financing the construction and property (including land)	460	479	819	383	164	33	(497)
Other households ⁽¹⁾	231,910	1,412	79,666	4,969	3,702	20	(1,601)
Total	307,983	7,343	88,399	7,778	4,946	246	(4,920)

	Of which: IMPAIRED
	Unsecured loans			Secured loans
					Maximum amount of secured loans that can be considered		Accumulated impairment or accumulated losses in fair value due to credit risk
	Number of operations	Gross carrying amount	Number of operations	Gross carrying amount	Real estate mortgage secured	Rest of secured loans
Credit institutions	—	—	—	—	—	—	—
General Governments	26	20	23	9	5	—	(8)
Other financial corporations and individual entrepreneurs (financial business)	232	9	17	4	—	1	(7)
Non-financial corporations and individual entrepreneurs (corporate non-financial activities)	59,944	3,104	6,005	1,604	500	66	(2,815)
Of which: financing the construction and property (including land)	414	475	620	269	82	22	(480)
Other households ⁽¹⁾	124,228	871	37,043	2,514	1,607	4	(1,412)
Total	184,430	4,004	43,088	4,130	2,113	70	(4,242)

⁽¹⁾ Number of operations does not include Garanti BBVA. Includes mortgage-backed real estate operations with loan to value ratio of greater than 1, and secured operations, other than transactions secured by real estate mortgage regardless of their loan to value ratio.

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	DECEMBER 2021 BALANCE OF FORBEARANCE (Millions of Euros)
	TOTAL
	Unsecured loans			Secured loans			Accumulated impairment or accumulated losses in fair value due to credit risk
					Maximum amount of secured loans that can be considered
	Number of operations	Gross carrying amount	Number of operations	Gross carrying amount	Real estate mortgage secured	Rest of secured loans
Credit institutions	—	—	—	—	—	—	—
General Governments	59	63	32	22	15	—	(11)
Other financial corporations and individual entrepreneurs (financial business)	377	30	25	2	2	—	(6)
Non-financial corporations and individual entrepreneurs (corporate non-financial activities)	99,852	6,590	11,417	3,552	2,108	45	(3,196)
Of which: financing the construction and property (including land)	739	155	1,785	486	322	—	(513)
Other households ⁽¹⁾	275,927	1,813	96,312	5,877	4,473	25	(1,622)
Total	376,215	8,496	107,786	9,453	6,599	70	(4,834)

	Of which: IMPAIRED
	Unsecured loans			Secured loans
					Maximum amount of secured loans that can be considered		Accumulated impairment or accumulated losses in fair value due to credit risk
	Number of operations	Gross carrying amount	Number of operations	Gross carrying amount	Real estate mortgage secured	Rest of secured loans
Credit institutions	—	—	—	—	—	—	—
General Governments	29	29	23	10	6	—	(10)
Other financial corporations and individual entrepreneurs (financial business)	255	11	17	1	1	—	(5)
Non-financial corporations and individual entrepreneurs (corporate non-financial activities)	74,054	3,701	7,423	1,799	855	10	(2,639)
Of which: financing the construction and property (including land)	592	148	1,229	320	179	—	(464)
Other households ⁽¹⁾	143,791	948	39,962	2,701	1,799	3	(1,377)
Total	218,129	4,689	47,425	4,512	2,661	13	(4,031)

⁽¹⁾ Number of operations does not include Garanti BBVA. Includes mortgage-backed real estate operations with loan to value ratio of greater than 1, and secured operations, other than transactions secured by real estate mortgage regardless of their loan to value ratio.

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	DECEMBER 2020 BALANCE OF FORBEARANCE (Millions of Euros)
	TOTAL
	Unsecured loans			Secured loans			Accumulated impairment or accumulated losses in fair value due to credit risk
					Maximum amount of secured loans that can be considered
	Number of operations	Gross carrying amount	Number of operations	Gross carrying amount	Real estate mortgage secured	Rest of secured loans
Credit institutions	—	—	—	—	—	—	—
General Governments	67	77	69	62	45	—	(15)
Other financial corporations and individual entrepreneurs (financial business)	519	10	22	2	2	—	(4)
Non-financial corporations and individual entrepreneurs (corporate non-financial activities)	111,648	5,592	11,343	3,182	1,911	33	(3,128)
Of which: financing the construction and property (including land)	624	500	1,081	622	370	8	(420)
Other households ⁽¹⁾	261,097	1,782	86,643	5,992	4,379	27	(1,712)
Total	373,331	7,460	98,077	9,239	6,337	60	(4,859)

	Of which: IMPAIRED
	Unsecured loans			Secured loans
					Maximum amount of secured loans that can be considered		Accumulated impairment or accumulated losses in fair value due to credit risk
	Number of operations	Gross carrying amount	Number of operations	Gross carrying amount	Real estate mortgage secured	Rest of secured loans
Credit institutions	—	—	—	—	—	—	—
General Governments	39	36	29	20	14	—	(12)
Other financial corporations and individual entrepreneurs (financial business)	283	5	11	1	1	—	(3)
Non-financial corporations and individual entrepreneurs (corporate non-financial activities)	67,588	3,470	6,880	1,939	916	21	(2,727)
Of which: financing the construction and property (including land)	469	216	674	408	197	8	(311)
Other households ⁽¹⁾	113,013	765	37,063	2,805	1,820	8	(1,358)
Total	180,923	4,274	43,983	4,765	2,750	30	(4,100)

(1) Number of operations does not include Garanti BBVA. Includes mortgage-backed real estate operations with loan to value ratio of greater than 1, and secured operations, other than transactions secured by real estate mortgage regardless of their loan to value ratio.

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In addition to the restructuring and refinancing transactions mentioned in this section, loans that were not considered impaired or renegotiated have been modified based on the criteria set out in the accounting regulation that applies. These loans have not been classified as renegotiated or impaired, since they were modified for commercial or competitive reasons (for instance, to improve relationships with clients) rather than for economic or legal reasons relating to the borrower's financial situation.

The table below provides a breakdown by segments of the forbearance operations (net of provisions) as of December 31, 2022, 2021 and 2020:

Forbearance operations. Breakdown by segments (Millions of Euros)

	2022	2021	2020
Credit institutions	—	—	—
Central governments	39	74	124
Other financial corporations and individual entrepreneurs (financial activity)	9	26	8
Non-financial corporations and individual entrepreneurs (non-financial activity)	5,371	6,946	5,645
Of which: Financing the construction and property development (including land)	365	128	701
Households	4,780	6,068	6,062
Total carrying amount	10,200	13,114	11,840
Financing classified as non-current assets and disposal groups held for sale	—	—	858

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NPL ratio by type of renegotiated loan

The non-performing ratio of the renegotiated portfolio is defined as the impaired balance of renegotiated loans that shows signs of difficulties as of the closing of the reporting period, divided by the total payment outstanding in that portfolio.

As of December 31, 2022 and December 31, 2021, the non-performing ratio for each of the portfolios of renegotiated loans is as follows:

NPL ratio renegotiated loan portfolio

	Ratio of impaired loans - past due
	2022	2021
General governments	61%	45%
Commercial	54%	54%
Of which: Construction and developer	86%	73%
Other consumer	53%	47%

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b) Qualitative information on the concentration of risk by activity and guarantees

Loans and advances to customers by activity (carrying amount)

December 2022 (Millions of Euros)

				Loans to customers. Loan to value
	Total ⁽¹⁾	Mortgage loans	Secured loans	Less than or equal to 40%	Over 40% but less than or equal to 60%	Over 60% but less than or equal to 80%	Over 80% but less than or equal to 100%	Over 100%
General governments	20,661	297	5,382	1,121	1,555	338	1,919	746
Other financial institutions and individual entrepreneurs	23,484	336	15,430	296	128	139	3,644	11,560
Non-financial institutions and individual entrepreneurs	172,854	25,454	6,829	9,902	6,972	4,495	2,958	7,956
Construction and property development	5,166	3,701	201	1,468	1,083	660	247	445
Construction of civil works	5,582	610	317	276	185	104	45	318
Other purposes	162,106	21,143	6,311	8,159	5,704	3,732	2,666	7,194
Large companies	105,852	7,509	3,771	3,308	1,839	1,218	1,358	3,557
SMEs ⁽²⁾ and individual entrepreneurs	56,254	13,634	2,540	4,851	3,866	2,514	1,307	3,637
Rest of households and NPISHs ⁽³⁾	150,095	93,556	1,990	21,473	25,693	29,940	13,114	5,327
Housing	95,237	92,264	123	20,886	25,325	29,696	11,564	4,915
Consumption	50,295	461	1,660	266	166	111	1,403	176
Other purposes	4,564	831	208	321	202	133	147	235
TOTAL	367,095	119,644	29,632	32,792	34,348	34,911	21,636	25,589
MEMORANDUM ITEM:
Forbearance operations ⁽⁴⁾	10,200	5,685	174	1,351	1,130	1,167	884	1,327

⁽¹⁾ The amounts included in this table are net of loss allowances.
⁽²⁾ Small and medium enterprises.
⁽³⁾ Non-profit institutions serving households.
⁽⁴⁾ Net of provisions.

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December 2021 (Millions of Euros)

				Loans to customers. Loan to value
	Total ⁽¹⁾	Mortgage loans	Secured loans	Less than or equal to 40%	Over 40% but less than or equal to 60%	Over 60% but less than or equal to 80%	Over 80% but less than or equal to 100%	Over 100%
General governments	19,928	324	1,907	472	834	129	783	14
Other financial institutions and individual entrepreneurs	20,711	219	14,495	153	575	2,933	10,151	901
Non-financial institutions and individual entrepreneurs	146,988	22,945	3,842	8,074	6,361	4,679	2,407	5,266
Construction and property development	5,091	3,594	79	1,203	1,055	675	278	462
Construction of civil works	6,614	625	259	252	194	96	51	291
Other purposes	135,284	18,726	3,504	6,620	5,112	3,908	2,077	4,513
Large companies	84,147	6,208	2,197	2,327	1,420	1,680	632	2,346
SMEs ⁽²⁾ and individual entrepreneurs	51,137	12,518	1,307	4,292	3,692	2,228	1,445	2,167
Rest of households and NPISHs ⁽³⁾	141,007	93,384	1,757	19,716	23,528	29,555	15,339	7,003
Housing	95,199	92,030	132	19,120	23,175	29,258	13,982	6,628
Consumption	41,798	416	1,421	245	172	119	1,176	126
Other purposes	4,010	938	203	352	181	178	181	250
TOTAL	328,635	116,872	22,001	28,415	31,298	37,295	28,679	13,185
MEMORANDUM ITEM:
Forbearance operations ⁽⁴⁾	13,114	7,513	98	1,611	1,460	1,600	1,176	1,765

⁽¹⁾ The amounts included in this table are net of loss allowances.
⁽²⁾ Small and medium enterprises.
⁽³⁾ Non-profit institutions serving households.
⁽⁴⁾ Net of provisions.

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December 2020 (Millions of Euros)

				Loans to customers. Loan to value
	Total ⁽¹⁾	Mortgage loans	Secured loans	Less than or equal to 40%	Over 40% but less than or equal to 60%	Over 60% but less than or equal to 80%	Over 80% but less than or equal to 100%	Over 100%
General governments	19,718	372	1,451	390	546	135	714	39
Other financial institutions and individual entrepreneurs	17,464	200	9,398	166	1,585	2,610	4,948	289
Non-financial institutions and individual entrepreneurs	143,693	23,686	4,082	8,294	7,162	4,467	3,200	4,646
Construction and property development	4,379	3,244	82	1,048	1,015	678	263	321
Construction of civil works	6,810	641	279	274	194	97	48	306
Other purposes	132,504	19,801	3,721	6,972	5,953	3,691	2,888	4,019
Large companies	79,595	6,648	1,920	2,561	1,811	1,242	1,012	1,943
SMEs ⁽²⁾ and individual entrepreneurs	52,909	13,154	1,801	4,411	4,142	2,449	1,877	2,076
Rest of households and NPISHs ⁽³⁾	137,870	92,555	1,836	19,606	24,126	27,130	15,463	8,066
Housing	94,098	90,756	131	18,743	23,719	26,817	13,960	7,648
Consumption	39,442	418	1,521	246	190	139	1,245	118
Other purposes	4,331	1,381	184	617	216	174	257	301
TOTAL	318,745	116,813	16,768	28,456	33,419	34,343	24,324	13,039
MEMORANDUM ITEM:
Forbearance operations ⁽⁴⁾	11,840	7,271	74	1,350	1,408	1,587	1,165	1,834

⁽¹⁾ The amounts included in this table are net of loss allowances.
⁽²⁾ Small and medium enterprises.
⁽³⁾ Non-profit institutions serving households.
⁽⁴⁾ Net of provisions.

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c. Information on the concentration of risk by activity and geographical areas

December 2022 (Millions of Euros)

	TOTAL ⁽¹⁾	Spain	Rest of European Union	America	Other
Credit institutions	166,602	58,290	36,043	42,941	29,328
General governments	128,028	52,873	13,677	47,726	13,752
Central Administration	107,292	39,349	13,153	41,666	13,124
Other	20,736	13,524	524	6,060	628
Other financial institutions	49,629	9,884	16,254	15,110	8,380
Non-financial institutions and individual entrepreneurs	235,376	81,464	25,039	80,112	48,761
Construction and property development	8,590	2,636	659	2,149	3,146
Construction of civil works	9,361	5,942	1,078	1,037	1,304
Other purposes	217,425	72,886	23,302	76,925	44,311
Large companies	154,894	45,864	22,686	55,071	31,274
SMEs and individual entrepreneurs	62,531	27,023	616	21,855	13,038
Other households and NPISHs	151,091	88,608	2,591	49,290	10,602
Housing	95,238	70,901	1,483	21,455	1,398
Consumer	50,296	14,595	236	26,697	8,768
Other purposes	5,557	3,111	871	1,139	436
TOTAL	730,724	291,119	93,603	235,179	110,823

(1) The definition of risk for the purpose of this statement includes the following items on the public balance sheet: “Loans and advances to credit institutions”, “Loans and advances”, “Debt securities”, “Equity instruments”, “Other equity securities”, “Derivatives and hedging derivatives”, “Investments in subsidiaries, joint ventures and associates” and “Guarantees given”. The amounts included in this table are net of loss allowances.

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December 2021 (Millions of Euros)

	TOTAL ⁽¹⁾	Spain	Rest of European Union	America	Other
Credit institutions	153,178	46,282	35,157	37,840	33,898
General governments	122,518	53,621	15,822	41,510	11,564
Central Administration	101,719	38,601	15,451	36,397	11,269
Other	20,799	15,020	371	5,113	295
Other financial institutions	44,470	9,988	16,039	11,474	6,969
Non-financial institutions and individual entrepreneurs	211,437	77,227	25,485	64,123	44,602
Construction and property development	8,594	3,029	662	2,050	2,853
Construction of civil works	10,345	5,641	1,210	1,030	2,465
Other purposes	192,498	68,557	23,614	61,044	39,284
Large companies	136,229	42,462	23,133	40,931	29,703
SMEs and individual entrepreneurs	56,269	26,095	481	20,113	9,581
Other households and NPISHs	141,747	89,769	2,715	40,819	8,444
Housing	95,200	73,145	1,645	18,455	1,955
Consumer	41,799	13,431	745	21,399	6,224
Other purposes	4,749	3,193	325	966	265
TOTAL	673,350	276,887	95,218	195,768	105,477

⁽¹⁾ The definition of risk for the purpose of this statement includes the following items on the public balance sheet: “Loans and advances to credit institutions”, “Loans and advances”, “Debt securities”, “Equity instruments”, “Other equity securities”, “Derivatives and hedging derivatives”, “Investments in subsidiaries, joint ventures and associates” and “Guarantees given”. The amounts included in this table are net of loss allowances.

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December 2020 (Millions of Euros)

	TOTAL ⁽¹⁾	Spain	Rest of European Union	America	Other
Credit institutions	140,294	44,287	29,055	39,897	27,055
General governments	125,311	61,944	12,660	37,756	12,951
Central Administration	103,104	46,614	12,324	31,477	12,689
Other	22,207	15,330	336	6,279	262
Other financial institutions	48,236	14,727	11,575	15,640	6,294
Non-financial institutions and individual entrepreneurs	202,708	74,560	23,783	60,245	44,120
Construction and property development	8,182	3,384	202	1,899	2,697
Construction of civil works	10,385	5,275	1,349	1,183	2,578
Other purposes	184,141	65,901	22,232	57,163	38,845
Large companies	125,847	39,272	21,610	37,904	27,061
SMEs and individual entrepreneurs	58,294	26,629	622	19,259	11,784
Other households and NPISHs	138,544	88,633	2,882	36,690	10,339
Housing	94,098	73,383	1,747	16,262	2,706
Consumer	39,442	12,117	719	19,264	7,342
Other purposes	5,004	3,133	416	1,164	291
TOTAL	655,093	284,151	79,955	190,228	100,990

⁽¹⁾ The definition of risk for the purpose of this statement includes the following items on the public balance sheet: “Loans and advances to credit institutions”, “Loans and advances”, “Debt securities”, “Equity instruments”, “Other equity securities”, “Derivatives and hedging derivatives”, “Investments in subsidiaries, joint ventures and associates” and “Guarantees given”. The amounts included in this table are net of loss allowances.

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This Appendix is an integral part of Note 7.2.7 of the consolidated financial statements for the year ended December 31, 2022.

APPENDIX XII. Additional information on risk concentration

a) Sovereign risk exposure

The table below provides a breakdown of exposure to financial assets (excluding derivatives and equity instruments), as of December 31, 2022, 2021 and 2020: by type of counterparty and the country of residence of such counterparty. The below figures do not take into account accumulated other comprehensive income, loss allowances or loan-loss provisions:

Risk exposure by countries (Millions of Euros)

	Sovereign risk
	2022	2021	2020
Spain	53,437	52,927	60,916
Italy	12,287	13,720	10,270
Turkey	9,934	5,868	7,578
Portugal	670	697	1,067
Germany	254	212	342
France	148	124	108
Netherlands	14	3	—
Romania	539	461	459
Rest of Europe	1,188	522	244
Subtotal Europe	78,470	74,534	80,984
Mexico	37,274	34,872	31,237
The United States	4,989	1,841	14,217
Colombia	2,688	2,676	1,466
Peru	1,108	805	1,539
Argentina	1,246	850	706
Venezuela	—	—	21
Rest of countries	3,726	5,871	5,559
Subtotal rest of countries	51,031	46,915	54,746
Total exposure to financial instruments	129,501	121,449	135,729

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The exposure to sovereign risk set out in the above table includes positions held in government debt securities in countries where the Group operates. They are used for ALCO’s management of the interest-rate risk on the balance sheets of the Group’s entities in these countries, as well as for hedging of pension and insurance commitments by insurance entities within the BBVA Group.

The table below provides a breakdown of the exposure of the Group’s credit institutions to sovereign risk as of December 31, 2022 by type of financial instrument and the country of residence of the counterparty, under EBA requirements:

Sovereign Risk by European Union Countries. December 2022 (Millions of Euros)

	Debt securities	Loans and advances	Derivatives						Total	%
			Direct exposure			Indirect exposure
			Notional value	Fair value +	Fair value -	Notional value	Fair value +	Fair value -
Spain	29,097	11,500	217	42	(22)	(685)	4,331	(4,996)	39,485	38%
Italy	7,819	5	—	—	—	(1,818)	1,218	(2,496)	4,728	5%
Portugal	81	125	—	—	(102)	20	19	—	143	—%
Germany	4	—	—	—	—	(10)	6	(8)	(8)	—%
France	(976)	53	16	—	(2)	364	243	(1)	(303)	—%
Netherlands	10	—	—	—	—	—	—	—	10	—%
Romania	539	—	—	—	—	—	—	—	539	1%
Rest of European Union	386	87	71	3	—	292	278	—	1,118	1%
Total Exposure to Sovereign Counterparties (European Union)	36,960	11,769	305	46	(126)	(1,835)	6,095	(7,502)	45,712	44%
Mexico	21,843	6,301	5,689	25	(132)	—	—	—	33,726	33%
The United States	4,872	—	(1)	—	(1)	—	—	—	4,870	5%
Turkey	9,286	585	—	—	—	—	5	(5)	9,871	10%
Rest of other countries	6,364	2,266	—	—	—	405	15	(2)	9,049	9%
Total other countries	42,365	9,153	5,688	25	(133)	405	21	(7)	57,516	56%
Total	79,325	20,922	5,992	71	(258)	(1,430)	6,115	(7,509)	103,228	100%

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This table shows sovereign risk balances with EBA criteria. Therefore, sovereign risk of European Union countries of the Group’s insurance companies (€9,117 million as of December 31, 2022) is not included. Includes credit derivatives CDS (Credit Default Swaps) shown at fair value.

This Appendix forms an integral part of Note 7.2.8 of the Consolidated Financial Statements for the year 2022.

b) Concentration of risk on activities in the real-estate market in Spain

Quantitative information on activities in the real-estate market in Spain

Lending for real estate development of the loans as of December 31, 2022, 2021 and 2020 is shown below:

Financing Allocated by credit institutions to Construction and Real Estate Development and lending for house purchase (Millions of Euros)

	Gross amount			Drawn over the guarantee value			Accumulated impairment
	2022	2021	2020	2022	2021	2020	2022	2021	2020
Financing to construction and real estate development (including land) (Business in Spain)	1,861	2,123	2,565	350	455	650	(157)	(197)	(281)
Of which: Impaired assets	239	336	473	82	132	213	(122)	(142)	(230)
Memorandum item:
Write-offs	2,086	2,155	2,288
Memorandum item:
Total loans and advances to customers, excluding the General Governments (Business in Spain) (book value)	172,880	168,734	162,600
Total consolidated assets (total business) (book value)	713,140	662,885	733,797
Impairment and provisions for normal exposures	(4,622)	(4,610)	(4,909)

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The following is a description of the real estate credit risk based on the types of associated guarantees:

Financing allocated by credit institutions to construction and real estate development and lending for house purchase (Millions of Euros)

	2022	2021	2020
Without secured loan	232	248	372
With secured loan	1,629	1,875	2,193
Terminated buildings	898	1,172	1,307
Homes	710	936	991
Other	188	235	316
Buildings under construction	556	517	614
Homes	536	509	430
Other	21	8	184
Land	175	186	272
Urbanized land	119	124	143
Rest of land	56	62	129
Total	1,861	2,123	2,565

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As of December 31, 2022, 2021 and 2020, 48.3%, 55.2% and 51.0%, of loans to developers were guaranteed with buildings (79.1%, 79.9% and 75.8% are homes), and only 9.4%, 8.8%, and 10.6% by land, of which 68.0%, 66.6%, and 52.6% are in urban locations, respectively.

The table below provides the breakdown of the financial guarantees given as of December 31, 2022, 2021 and 2020:

Financial guarantees given (Millions of Euros)

	2022	2021	2020
Houses purchase loans	54	56	58
Without mortgage	3	3	5

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The information on the retail mortgage portfolio risk (housing mortgage) as of December 31, 2022, 2021 and 2020 is as follows:

Financing allocated by credit institutions to construction and Real Estate development and lending for house purchase. (Millions of Euros)

	Gross amount			Of which: impaired loans
	2022	2021	2020	2022	2021	2020
Houses purchase loans	71,799	74,094	74,689	2,486	2,748	2,841
Without mortgage	1,539	1,631	1,693	8	13	20
With mortgage	70,260	72,463	72,996	2,477	2,735	2,821

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The loan to value (LTV) ratio of the above portfolio is as follows:

LTV breakdown of mortgage to households for the purchase of a home (business in Spain) (Millions of Euros)

	Total risk over the amount of the last valuation available (Loan To Value-LTV)
	Less than or equal to 40%	Over 40% but less than or equal to 60%	Over 60% but less than or equal to 80%	Over 80% but less than or equal to 100%	Over 100%	Total
Gross amount December 31, 2022	16,981	20,060	22,255	6,794	4,171	70,260
Of which: Impaired loans	248	341	438	450	999	2,477
Gross amount December 31, 2021	15,189	18,107	22,782	9,935	6,449	72,463
Of which: Impaired loans	216	327	462	483	1,246	2,735
Gross amount December 31, 2020	15,197	18,891	20,716	10,624	7,568	72,996
Of which: Impaired loans	170	294	426	470	1,461	2,821

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Outstanding home mortgage loans as of December 31, 2022, 2021 and 2020 had an average LTV of 43%, 46% and 46% respectively.

The breakdown of foreclosed, acquired, purchased or exchanged assets from debt from loans relating to business in Spain, as well as the holdings and financing to non-consolidated entities holding such assets is as follows:

Information about Assets Received in Payment of Debts (Business in Spain) (Millions of euros)

	Gross Value			Provisions			Of which: Valuation adjustments on impaired assets, from the time of foreclosure			Carrying amount
	2022	2021	2020	2022	2021	2020	2022	2021	2020	2022	2021	2020
Real estate assets from loans to the construction and real estate development sectors in Spain.	539	654	913	(389)	(407)	(486)	(229)	(214)	(234)	150	247	427
Terminated buildings	125	196	363	(72)	(94)	(144)	(38)	(44)	(60)	54	102	219
Homes	49	87	212	(25)	(39)	(75)	(11)	(17)	(33)	24	48	137
Other	76	109	151	(47)	(55)	(69)	(27)	(27)	(27)	30	54	82
Buildings under construction	21	23	30	(16)	(17)	(21)	(8)	(6)	(10)	5	6	9
Homes	20	22	29	(15)	(16)	(20)	(7)	(6)	(10)	5	6	9
Other	1	1	1	(1)	(1)	(1)	—	—	—	—	—	—
Land	393	435	520	(302)	(296)	(321)	(183)	(164)	(164)	91	139	199
Urbanized land	366	406	485	(285)	(281)	(303)	(170)	(153)	(150)	81	125	182
Rest of land	27	29	35	(17)	(15)	(18)	(12)	(11)	(14)	10	14	17
Real estate assets from mortgage financing for households for the purchase of a home	736	970	1,128	(410)	(520)	(593)	(134)	(154)	(163)	327	450	535
Rest of foreclosed real estate assets	449	494	481	(270)	(264)	(259)	(80)	(62)	(48)	179	230	222
Equity instruments, investments and financing to non-consolidated companies holding said assets	656	708	1,310	(397)	(449)	(450)	(358)	(410)	(412)	259	259	860
Total	2,381	2,826	3,832	(1,466)	(1,640)	(1,788)	(801)	(840)	(857)	915	1,186	2,044

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As of December 31, 2022, 2021 and 2020, the gross book value of the Group’s real-estate assets from corporate financing of real- estate construction and development was €539, €654 and €913 million, respectively, with an average coverage ratio of 72.2%, 62.2% and 53.2%, respectively.

The gross book value of real-estate assets from mortgage lending to households for home purchase as of December 31, 2022, 2021 and 2020, amounted to €736, €970 and €1,128 million, respectively, with an average coverage ratio of 55.6%, 53.6% and 52.6%.

As of December 31, 2022, 2021 and 2020, the gross book value of the BBVA Group’s total real-estate assets (business in Spain), including other real-estate assets received as debt payment, was €1,725, €2118 and €2522 million, respectively. The coverage ratio was 62.0%, 56.2% and 53.1%, respectively.

This Appendix is an integral part of Note 7 of the consolidated financial statements for the year ended December 31, 2022.

c) Concentration of risk by geography

Below is a breakdown of the balances of financial instruments registered in the consolidated balance sheets by their concentration in geographical areas and according to the residence of the customer or counterparty. As of December 31, 2022, 2021 and 2020 it does not take into account loss allowances or loan-loss provisions:

Risks by geographical areas. December 2022 (Millions of Euros)

	Spain	Rest of Europe	Mexico	The United States	Turkey	South America	Other	Total
Derivatives	5,222	20,494	1,824	7,679	128	3,493	1,068	39,908
Equity instruments ⁽¹⁾	1,342	3,068	5,012	2,026	145	225	294	12,113
Debt securities	43,049	20,200	33,322	7,863	9,366	8,372	4,814	126,985
Central banks	—	16	—	—	—	3,839	89	3,944
General governments	41,114	13,755	30,973	4,989	9,345	3,448	3,044	106,668
Credit institutions	1,153	2,433	1,341	119	14	266	452	5,778
Other financial corporations	433	1,696	297	1,042	3	561	212	4,245
Non-financial corporations	349	2,299	711	1,712	5	257	1,017	6,350
Loans and advances	176,212	65,763	77,840	12,508	42,080	46,451	11,157	432,011
Central banks	713	1,060	—	—	3,898	370	10	6,051
General governments	11,500	269	6,301	—	585	1,771	495	20,922
Credit institutions	5,184	27,591	2,546	336	2,457	1,974	1,235	41,323
Other financial corporations	3,688	16,662	1,315	1,814	1,206	1,415	1,307	27,407
Non-financial corporations	60,459	17,290	32,365	10,325	21,678	21,565	8,008	171,690
Households	94,669	2,890	35,312	34	12,255	19,356	101	164,618
Total risk in financial assets	225,825	109,525	117,998	30,077	51,718	58,541	17,333	611,018
Loan commitments given	35,649	42,532	20,479	14,849	10,628	10,996	1,788	136,920
Financial guarantees given	3,020	4,372	7	1,397	6,169	1,011	536	16,511
Other commitments given	15,626	8,008	2,723	2,536	4,278	3,207	2,758	39,137
Off-balance sheet exposures	54,294	54,912	23,209	18,783	21,074	15,213	5,082	192,568

Total risks in financial instruments	280,119	164,437	141,207	48,860	72,793	73,754	22,415	803,585

⁽¹⁾ Equity instruments are shown net of valuation adjustment.

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Risks by geographical areas. December 2021 (Millions of Euros)

	Spain	Rest of Europe	Mexico	The United States	Turkey	South America	Other	Total
Derivatives	4,145	15,783	1,511	4,706	945	3,248	594	30,933
Equity instruments ⁽¹⁾	3,682	12,510	3,885	1,273	80	206	951	22,587
Debt securities	43,336	22,288	32,042	4,418	5,677	6,237	6,993	120,990
Central banks	—	15	—	—	—	2,527	106	2,648
General governments	40,653	15,608	29,771	1,839	5,669	2,813	5,156	101,508
Credit institutions	1,401	2,341	1,213	142	8	275	480	5,860
Other financial corporations	619	1,878	270	903	1	402	132	4,203
Non-financial corporations	662	2,447	788	1,535	—	220	1,118	6,770
Loans and advances	177,851	64,238	60,208	9,319	36,743	42,182	9,984	400,525
Central banks	865	2,832	—	—	3,991	1,442	24	9,154
General governments	12,542	256	5,102	—	236	1,733	490	20,359
Credit institutions	7,360	29,901	1,452	361	2,695	1,221	2,247	45,238
Other financial corporations	4,583	14,183	985	1,521	954	1,165	851	24,242
Non-financial corporations	56,643	13,993	24,930	7,403	19,500	19,024	6,250	147,743
Households	95,857	3,072	27,740	35	9,368	17,596	122	153,789
Total risk in financial assets	229,013	114,819	97,647	19,718	43,445	51,873	18,521	575,035
Loan commitments given	35,604	37,313	17,662	13,239	6,359	7,926	1,516	119,618
Financial guarantees given	2,426	3,363	16	451	4,163	993	308	11,720
Other commitments given	14,516	6,995	2,127	2,070	3,529	2,402	2,965	34,604
Off-balance sheet exposures	52,546	47,671	19,805	15,760	14,050	11,321	4,789	165,941

Total risks in financial instruments	281,559	162,489	117,451	35,477	57,496	63,194	23,309	740,976

⁽¹⁾ Equity instruments are shown net of valuation adjustment.

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Risks by geographical areas. December 2020 (Millions of Euros)

	Spain	Rest of Europe	Mexico	The United States	Turkey	South America	Other	Total
Derivatives	8,419	17,811	2,292	8,350	349	2,162	800	40,183
Equity instruments ⁽¹⁾	2,196	9,627	3,197	925	65	260	420	16,690
Debt securities	56,552	18,932	29,392	5,097	7,466	5,907	6,287	129,632
Central banks	—	—	—	—	—	2,535	100	2,635
General governments	48,765	12,320	26,567	2,412	7,449	2,547	4,641	104,701
Credit institutions	1,680	2,383	1,542	214	14	205	681	6,718
Other financial corporations	5,466	1,804	404	897	2	439	163	9,175
Non-financial corporations	641	2,426	879	1,574	—	180	702	6,402
Loans and advances	168,849	50,691	57,787	8,335	40,373	39,081	9,964	375,080
Central banks	1,301	37	235	204	3,408	1,060	37	6,282
General governments	12,712	328	4,671	—	181	1,401	732	20,026
Credit institutions	644	23,123	2,888	1,477	217	830	3,762	32,940
Other financial corporations	3,742	10,826	2,489	946	1,165	756	723	20,647
Non-financial corporations	55,314	13,078	22,878	5,670	23,963	18,215	4,573	143,691
Households	95,136	3,298	24,626	38	11,439	16,819	137	151,493
Total risk in financial assets	236,016	97,061	92,667	22,706	48,253	47,410	17,471	561,585
Loan commitments given	35,096	32,327	15,748	33,644	7,691	6,530	1,548	132,584
Financial guarantees given	850	3,302	24	714	4,415	1,013	348	10,665
Other commitments given	15,474	8,224	1,618	1,922	3,403	2,883	2,666	36,190
Off-balance sheet exposures	51,419	43,853	17,391	36,280	15,508	10,425	4,563	179,440

Total risks in financial instruments	287,436	140,914	110,058	58,986	63,761	57,836	22,034	741,025

⁽¹⁾ Equity instruments are shown net of valuation adjustment.

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The breakdown of the main figures in the most significant foreign currencies in the consolidated balance sheets is set forth in Appendix VII.

The breakdown of loans and advances in the heading of “Loans and advances”, impaired by geographical area as December 31, 2022, 2021 and 2020.

Impaired financial assets by geographic area (Millions of Euros)

	2022	2021	2020
Spain	7,468	8,143	8,199
Rest of Europe	93	104	118
Mexico	1,939	1,921	1,767
South America	1,721	1,744	1,703
Turkey	2,272	2,746	2,889
Rest of the world	—	—	2
IMPAIRED RISKS	13,493	14,657	14,678

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This Appendix is an integral part of Note 7.2.8 of the consolidated financial statements for the year ended December 31, 2022.

APPENDIX XIII. Information in accordance with article 89 of Directive 2013/36/EU of the European Parliament and its application to Spanish Law through Law 10/2014

December 31, 2022 (Millions of Euros)

Country	CIT payments cash basis	CIT expense consol	PBT consol	Gross margin	Nº employees ⁽¹⁾	Activity	Main Entity
Germany	19	10	30	45	38	Banking services	BBVA, S.A. - Frankfurt Branch Office
Argentina	7	(13)	253	1,208	5,421	Finance, banking and insurance services	Banco BBVA Argentina S.A.
Belgium	—	—	2	5	21	Banking services	BBVA, S.A. - Brussels Branch Office
Bolivia	3	4	16	32	466	Pensions	BBVA Previsión AFP S.A.
Brazil	—	1	1	3	—	Financial services	BBVA Brasil Banco de Investimento, S.A.
Chile	22	6	49	171	767	Financial services	Forum Servicios Financieros, S.A.
China	—	—	—	5	25	Banking services	BBVA, S.A. - Shanghai Branch Office
Cyprus	3	3	12	14	106	Banking services	Garanti BBVA AS - Nicosia Branch Office
Colombia	123	126	342	1,024	6,623	Finance, banking and insurance services	BBVA Colombia S.A.
Curaçao	—	—	2	5	15	Finance and banking services	Banco Provincial Overseas N.V.
Spain	549	496	1,297	6,331	24,875	Finance, banking and insurance services	BBVA S.A.
United States	24	18	67	160	347	Finance and banking services	BBVA, S.A. - New York Branch Office
France	25	13	51	81	67	Banking services	BBVA, S.A. - Paris Branch Office
Hong Kong	—	5	34	69	93	Banking services	BBVA,S.A. - Hong-Kong Branch Office
Italy	11	33	110	84	52	Banking services	BBVA, S.A. - Milan Branch Office
Japan	—	—	(1)	—	4	Banking services	BBVA, S.A. - Tokio Branch Office
Malta	4	3	41	65	14	Banking services	Garanti BBVA AS - La Valeta Branch Office
Mexico	1,141	1,492	5,592	10,344	43,500	Finance, banking and insurance services	BBVA Mexico, S.A.
Netherlands	7	14	53	99	205	Finance and banking services	Garantibank BBVA International N.V.
Peru	222	163	599	1,484	6,516	Finance and banking services	BBVA Banco Continental S.A.
Portugal	6	(1)	45	103	427	Finance and banking services	BBVA, S.A. - Portugal Branch Office
United Kingdom	15	7	60	130	128	Banking services	BBVA, S.A. - London Branch Office
Romania	9	8	46	123	1,135	Finance and banking services	Garanti Bank S.A.
Singapore	3	3	20	23	15	Banking services	BBVA, S.A. - Singapore Branch Office
Switzerland	5	2	9	46	120	Finance and banking services	BBVA Switzerland S.A.
Taiwan	—	1	1	9	12	Banking services	BBVA, S.A. - Taipei Branch Office
Turkey	948	1,079	1,494	2,885	20,201	Finance, banking and insurance services	Garanti BBVA A.S.
Uruguay	18	19	49	183	573	Finance and banking services	BBVA Uruguay S.A.
Venezuela	2	37	82	157	1,788	Finance, banking and insurance services	BBVA Banco Provincial, S.A.
Total	3,166	3,529	10,356	24,890	113,554

⁽¹⁾ Full time employees. The 39 employees of representative offices are not included in the total number.

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The amounts of "Cash payments of corporate income tax" are highly conditioned and derive fundamentally from the methodology for calculating the instalment payments provided for in the regulations governing corporate income tax in the different geographical areas, producing differences between the instalment payments made in the current year and the refund of instalments from previous years that may result once the final tax returns have been filed. In this respect, it should also be noted that it is normal for there to be, differences between the amounts of "Corporate tax cash payments" and "Corporate tax expense", as the tax paid in the year is not necessarily directly related to the pre-tax profit existing in a jurisdiction, but takes into account the tax payments (and refunds) in respect of profits made in previous years, as well as the instalment payments made in the current year and the withholding of input tax. However, the "Corporate Income Tax Expense" for the current year is more directly related to the existing Profit before tax for a given year.

The results of this breakdown of the branches are integrated in the financial statements of the parent companies on which they depend.

As of December 31, 2022, the return of the Group’s assets calculated by dividing the “Profit” between “Total Assets” is 0.96%.

In 2022¹, BBVA group has not received public aid for the financial sector which has the aim of promoting the carrying out of banking activities and which is significant. This statement is made for the purposes of article 89 of Directive 2013/36/EU of the European Parliament and of the Council of June 26 (on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms) and its transposition to Spanish legislation by means of Law 10/2014 on Monitoring, Supervision and Solvency of Credit Institutions of June 26.

¹ BBVA disclosed by means of public relevant events: (i) on 07/27/2012 the closing of the acquisition of UNNIM Banc, S.A. and (ii) on 04/24/2015 the closing of the acquisition of Catalunya Banc, S.A.

Translation of the Consolidated Financial Statements originally issued in Spanish and prepared in accordance with EU-IFRS, as adopted by the European Union (see Notes 1 to 56). In the event of a discrepancy, the Spanish-language version prevails.

APPENDIX I. Additional information on subsidiaries and structured entities composing the BBVA Group as of December 31, 2022

Additional information on subsidiaries and structured entities composing the BBVA Group as of December 31, 2022 (continued)

Additional information on subsidiaries and structured entities composing the BBVA Group as of December 31, 2022 (continued)

Additional information on subsidiaries and structured entities composing the BBVA Group as of December 31, 2022 (continued)

Additional information on subsidiaries and structured entities composing the BBVA Group as of December 31, 2022 (continued)

Additional information on subsidiaries and structured entities composing the BBVA Group as of December 31, 2022 (continued)

APPENDIX II. Additional information on investments joint ventures and associates in the BBVA Group as of December 31, 2022

APPENDIX III. Changes and notifications of participations in the BBVA Group in 2022

Acquisitions or increases of interest ownership in consolidated subsidiaries

Disposals or reduction of interest ownership in consolidated subsidiaries

Changes and notifications of participations in the BBVA Group in 2022 (continued)

Business combinations and other acquisitions or increases of interest ownership in associates and joint-ventures accounted for under the equity method

Disposal or reduction of interest ownership in associates and joint-ventures companies accounted for under the equity method

APPENDIX IV. Fully consolidated subsidiaries with more than 10% owned by non-Group shareholders as of December 31, 2022

APPENDIX V. Securitization funds. BBVA Group’s structured entities as of December 31, 2022

APPENDIX VI. Details of the outstanding subordinated debt and preferred securities issued by the Bank or entities in the Group consolidated as of December 31, 2022, 2021 and 2020

Outstanding as of December 31, 2022, 2021 and 2020 of subordinated issues

Outstanding as of December 31, 2022, 2021 and 2020 of subordinated issues

Outstanding as of December 31, 2022, 2021 and 2020 of subordinated issues

Outstanding as of December 31, 2022, 2021 and 2020 of subordinated issues (Millions of Euros)

APPENDIX VII Consolidated balance sheets held in foreign currency as of December 31, 2022, 2021 and 2020

APPENDIX VIII. Consolidated income statements for the first and second half of 2022 and 2021

CONSOLIDATED INCOME STATEMENTS (Millions of Euros)

EARNINGS (LOSSES) PER SHARE (Euros)

APPENDIX IX. Financial Statements of Banco Bilbao Vizcaya Argentaria, S.A.

ASSETS (Millions of Euros)

LIABILITIES AND EQUITY (Millions of Euros)

LIABILITIES AND EQUITY (Continued) (Millions of Euros)

MEMORANDUM ITEM - OFF BALANCE SHEET EXPOSURES (Millions of Euros)

INCOME STATEMENTS (Millions of Euros)

STATEMENTS OF RECOGNIZED INCOME AND EXPENSE (Millions of Euros)

Statement of changes in equity for the year ended December 31, 2022 of BBVA, S.A.

STATEMENT OF CHANGES IN EQUITY (Millions of Euros)

Statement of changes in equity for the year ended December 31, 2021 of BBVA, S.A.

STATEMENT OF CHANGES IN EQUITY (Millions of Euros)

CASH FLOWS STATEMENTS (Millions of Euros)

COMPONENTS OF CASH AND EQUIVALENTS AT END OF THE YEAR (Millions of Euros)

APPENDIX X. Information on data derived from the special accounting registry and other information bonds

a) Mortgage market policies and procedures

b) Quantitative information on activities in the mortgage market

b.1) Ongoing operations1

Mortgage loans. Eligibility for the purpose of the mortgage market (Millions of Euros)

Mortgage loans. Eligibility for the purpose of the mortgage market (Millions of Euros)

Mortgage loans. Classification of the nominal values according to different characteristics (Millions of Euros)

Nominal value of the total mortgage loans (Millions of Euros)

Eligible and non-eligible mortgage loans. Changes of the nominal values in the period (Millions of Euros)

Mortgage loans supporting the issuance of mortgage-covered bonds. Nominal value (Millions of Euros)

b.2) Liabilities operations

Issued Mortgage Bonds (Millions of Euros)

c) Quantitative information on internationalization covered bonds

c.1) Assets operations

Principal outstanding payment of loans (Millions of Euros)

c.2) Liabilities operations

Internationalization covered bonds (Millions of Euros)

d) Territorial bonds

d.1) Assets operations

Loans that serves as collateral for the territorial bonds

d.2) Liabilities operations

Territorial bonds

APPENDIX XI. Quantitative information on refinancing and restructuring operations and other requirement under Bank of Spain Circular 6/2012

a) Quantitative information on refinancing and restructuring operations

Forbearance operations. Breakdown by segments (Millions of Euros)

NPL ratio by type of renegotiated loan

NPL ratio renegotiated loan portfolio

b) Qualitative information on the concentration of risk by activity and guarantees

Loans and advances to customers by activity (carrying amount)

December 2022 (Millions of Euros)

December 2021 (Millions of Euros)

December 2020 (Millions of Euros)

c. Information on the concentration of risk by activity and geographical areas

December 2022 (Millions of Euros)

December 2021 (Millions of Euros)

December 2020 (Millions of Euros)

APPENDIX XII. Additional information on risk concentration

a) Sovereign risk exposure

Risk exposure by countries (Millions of Euros)

Sovereign Risk by European Union Countries. December 2022 (Millions of Euros)

b) Concentration of risk on activities in the real-estate market in Spain

Financing Allocated by credit institutions to Construction and Real Estate Development and lending for house purchase (Millions of Euros)

Financing allocated by credit institutions to construction and real estate development and lending for house purchase (Millions of Euros)

b.1) Ongoing operations¹