Report of Foreign Issuer Pursuant to Rule 13a-16 or 15d-16 (6-k)

☐0000842180December 3100008421802022-01-012022-06-3000008421802022-06-30iso4217:EUR00008421802021-12-3100008421802021-01-012021-06-30iso4217:EURxbrli:shares0000842180ifrs-full:IssuedCapitalMember2021-12-310000842180ifrs-full:SharePremiumMember2021-12-310000842180bbva:EquityInstrumentsIssuedOtherThanCapitalMember2021-12-310000842180ifrs-full:OtherEquityInterestMember2021-12-310000842180ifrs-full:RetainedEarningsMember2021-12-310000842180ifrs-full:RevaluationSurplusMember2021-12-310000842180ifrs-full:OtherReservesMember2021-12-310000842180ifrs-full:TreasurySharesMember2021-12-310000842180bbva:ProfitOrLossAttributableToOwnerOfTheParentMember2021-12-310000842180bbva:InterimDividendsMember2021-12-310000842180ifrs-full:AccumulatedOtherComprehensiveIncomeMember2021-12-310000842180bbva:OtherComprehensiveIncomeNonControllingInterestMember2021-12-310000842180bbva:RestOfNonControllingInterestMember2021-12-310000842180ifrs-full:IssuedCapitalMember2022-01-012022-06-300000842180ifrs-full:SharePremiumMember2022-01-012022-06-300000842180bbva:EquityInstrumentsIssuedOtherThanCapitalMember2022-01-012022-06-300000842180ifrs-full:OtherEquityInterestMember2022-01-012022-06-300000842180ifrs-full:RetainedEarningsMember2022-01-012022-06-300000842180ifrs-full:RevaluationSurplusMember2022-01-012022-06-300000842180ifrs-full:OtherReservesMember2022-01-012022-06-300000842180ifrs-full:TreasurySharesMember2022-01-012022-06-300000842180bbva:ProfitOrLossAttributableToOwnerOfTheParentMember2022-01-012022-06-300000842180bbva:InterimDividendsMember2022-01-012022-06-300000842180ifrs-full:AccumulatedOtherComprehensiveIncomeMember2022-01-012022-06-300000842180bbva:OtherComprehensiveIncomeNonControllingInterestMember2022-01-012022-06-300000842180bbva:RestOfNonControllingInterestMember2022-01-012022-06-300000842180ifrs-full:IssuedCapitalMember2022-06-300000842180ifrs-full:SharePremiumMember2022-06-300000842180bbva:EquityInstrumentsIssuedOtherThanCapitalMember2022-06-300000842180ifrs-full:OtherEquityInterestMember2022-06-300000842180ifrs-full:RetainedEarningsMember2022-06-300000842180ifrs-full:RevaluationSurplusMember2022-06-300000842180ifrs-full:OtherReservesMember2022-06-300000842180ifrs-full:TreasurySharesMember2022-06-300000842180bbva:ProfitOrLossAttributableToOwnerOfTheParentMember2022-06-300000842180bbva:InterimDividendsMember2022-06-300000842180ifrs-full:AccumulatedOtherComprehensiveIncomeMember2022-06-300000842180bbva:OtherComprehensiveIncomeNonControllingInterestMember2022-06-300000842180bbva:RestOfNonControllingInterestMember2022-06-300000842180ifrs-full:IssuedCapitalMember2020-12-310000842180ifrs-full:SharePremiumMember2020-12-310000842180bbva:EquityInstrumentsIssuedOtherThanCapitalMember2020-12-310000842180ifrs-full:OtherEquityInterestMember2020-12-310000842180ifrs-full:RetainedEarningsMember2020-12-310000842180ifrs-full:RevaluationSurplusMember2020-12-310000842180ifrs-full:OtherReservesMember2020-12-310000842180ifrs-full:TreasurySharesMember2020-12-310000842180bbva:ProfitOrLossAttributableToOwnerOfTheParentMember2020-12-310000842180bbva:InterimDividendsMember2020-12-310000842180ifrs-full:AccumulatedOtherComprehensiveIncomeMember2020-12-310000842180bbva:OtherComprehensiveIncomeNonControllingInterestMember2020-12-310000842180bbva:RestOfNonControllingInterestMember2020-12-3100008421802020-12-310000842180ifrs-full:IssuedCapitalMember2021-01-012021-06-300000842180ifrs-full:SharePremiumMember2021-01-012021-06-300000842180bbva:EquityInstrumentsIssuedOtherThanCapitalMember2021-01-012021-06-300000842180ifrs-full:OtherEquityInterestMember2021-01-012021-06-300000842180ifrs-full:RetainedEarningsMember2021-01-012021-06-300000842180ifrs-full:RevaluationSurplusMember2021-01-012021-06-300000842180ifrs-full:OtherReservesMember2021-01-012021-06-300000842180ifrs-full:TreasurySharesMember2021-01-012021-06-300000842180bbva:ProfitOrLossAttributableToOwnerOfTheParentMember2021-01-012021-06-300000842180bbva:InterimDividendsMember2021-01-012021-06-300000842180ifrs-full:AccumulatedOtherComprehensiveIncomeMember2021-01-012021-06-300000842180bbva:OtherComprehensiveIncomeNonControllingInterestMember2021-01-012021-06-300000842180bbva:RestOfNonControllingInterestMember2021-01-012021-06-300000842180ifrs-full:IssuedCapitalMember2021-06-300000842180ifrs-full:SharePremiumMember2021-06-300000842180bbva:EquityInstrumentsIssuedOtherThanCapitalMember2021-06-300000842180ifrs-full:OtherEquityInterestMember2021-06-300000842180ifrs-full:RetainedEarningsMember2021-06-300000842180ifrs-full:RevaluationSurplusMember2021-06-300000842180ifrs-full:OtherReservesMember2021-06-300000842180ifrs-full:TreasurySharesMember2021-06-300000842180bbva:ProfitOrLossAttributableToOwnerOfTheParentMember2021-06-300000842180bbva:InterimDividendsMember2021-06-300000842180ifrs-full:AccumulatedOtherComprehensiveIncomeMember2021-06-300000842180bbva:OtherComprehensiveIncomeNonControllingInterestMember2021-06-300000842180bbva:RestOfNonControllingInterestMember2021-06-3000008421802021-06-300000842180bbva:LoansAndAdvancesMember2022-01-012022-06-300000842180ifrs-full:DebtSecuritiesMember2022-01-012022-06-300000842180bbva:DebtSecuritiesIssuedMember2022-01-012022-06-300000842180bbva:DepositsMember2022-01-012022-06-300000842180ifrs-full:DerivativesMember2022-01-012022-06-300000842180country:ES2022-06-300000842180country:ES2021-12-310000842180country:MX2022-06-300000842180country:MX2021-12-310000842180country:TR2022-06-300000842180country:TR2021-12-310000842180srt:SouthAmericaMember2022-06-300000842180srt:SouthAmericaMember2021-12-310000842180bbva:RestOfBusinessMember2022-06-300000842180bbva:RestOfBusinessMember2021-12-310000842180bbva:SubtotalAssetsByOperatingSegmentsMember2022-06-300000842180bbva:SubtotalAssetsByOperatingSegmentsMember2021-12-310000842180bbva:CorporateCenterAndAdjustmentsMember2022-06-300000842180bbva:CorporateCenterAndAdjustmentsMember2021-12-310000842180bbva:GroupBBVAMember2022-01-012022-06-300000842180country:ES2022-01-012022-06-300000842180country:MX2022-01-012022-06-300000842180country:TR2022-01-012022-06-300000842180srt:SouthAmericaMember2022-01-012022-06-300000842180bbva:RestOfBusinessMember2022-01-012022-06-300000842180bbva:CorporativeCenterMember2022-01-012022-06-300000842180bbva:GroupBBVAMember2021-01-012021-06-300000842180country:ES2021-01-012021-06-300000842180country:MX2021-01-012021-06-300000842180country:TR2021-01-012021-06-300000842180srt:SouthAmericaMember2021-01-012021-06-300000842180bbva:RestOfBusinessMember2021-01-012021-06-300000842180bbva:CorporativeCenterMember2021-01-012021-06-300000842180bbva:FinishedMember2022-06-300000842180bbva:NumberOfClientsMember2022-06-30utr:Rate0000842180ifrs-full:CurrentMember2021-12-310000842180bbva:FinishedMember2021-12-310000842180bbva:NumberOfClientsMember2021-12-310000842180ifrs-full:CurrentMemberbbva:BbvaGroupMember2022-06-300000842180ifrs-full:CurrentMemberbbva:BbvaGroupMember2021-12-310000842180bbva:BbvaGroupMemberbbva:FinishedMember2022-06-300000842180bbva:BbvaGroupMemberbbva:FinishedMember2021-12-310000842180bbva:BbvaGroupMember2022-06-300000842180bbva:BbvaGroupMember2021-12-310000842180bbva:PrivateIndividualsMemberifrs-full:CurrentMember2022-06-300000842180bbva:PrivateIndividualsMemberifrs-full:CurrentMember2021-12-310000842180bbva:PrivateIndividualsMemberbbva:FinishedMember2022-06-300000842180bbva:PrivateIndividualsMemberbbva:FinishedMember2021-12-310000842180bbva:PrivateIndividualsMember2022-06-300000842180bbva:PrivateIndividualsMember2021-12-310000842180ifrs-full:CurrentMemberifrs-full:MortgagesMember2022-06-300000842180ifrs-full:CurrentMemberifrs-full:MortgagesMember2021-12-310000842180ifrs-full:MortgagesMemberbbva:FinishedMember2022-06-300000842180ifrs-full:MortgagesMemberbbva:FinishedMember2021-12-310000842180ifrs-full:MortgagesMember2022-06-300000842180ifrs-full:MortgagesMember2021-12-310000842180ifrs-full:CurrentMemberbbva:SmallCompaniesMember2022-06-300000842180ifrs-full:CurrentMemberbbva:SmallCompaniesMember2021-12-310000842180bbva:FinishedMemberbbva:SmallCompaniesMember2022-06-300000842180bbva:FinishedMemberbbva:SmallCompaniesMember2021-12-310000842180bbva:SmallCompaniesMember2022-06-300000842180bbva:SmallCompaniesMember2021-12-310000842180bbva:NonFinancialEntitiesMemberifrs-full:CurrentMember2022-06-300000842180bbva:NonFinancialEntitiesMemberifrs-full:CurrentMember2021-12-310000842180bbva:NonFinancialEntitiesMemberbbva:FinishedMember2022-06-300000842180bbva:NonFinancialEntitiesMemberbbva:FinishedMember2021-12-310000842180bbva:NonFinancialEntitiesMember2022-06-300000842180bbva:NonFinancialEntitiesMember2021-12-310000842180bbva:OtherMemberifrs-full:CurrentMember2022-06-300000842180bbva:OtherMemberifrs-full:CurrentMember2021-12-310000842180bbva:OtherMemberbbva:FinishedMember2022-06-300000842180bbva:OtherMemberbbva:FinishedMember2021-12-310000842180bbva:OtherMember2022-06-300000842180bbva:OtherMember2021-12-310000842180bbva:Stage1Member2022-06-300000842180bbva:Stage1Member2021-12-310000842180bbva:Stage2Member2022-06-300000842180bbva:Stage2Member2021-12-310000842180bbva:Stage3Member2022-06-300000842180bbva:Stage3Member2021-12-310000842180bbva:FinancialAssetsHeldForTradingMember2022-06-300000842180bbva:EquityInstrumentsMemberbbva:FinancialAssetsHeldForTradingMember2022-06-300000842180ifrs-full:DebtSecuritiesMemberbbva:FinancialAssetsHeldForTradingMember2022-06-300000842180bbva:LoansAndAdvancesMemberbbva:FinancialAssetsHeldForTradingMember2022-06-300000842180bbva:NonTradingFinancialAssetsMandatorilyAtFairValueThroughProfitOrLossMember2022-06-300000842180bbva:NonTradingFinancialAssetsMandatorilyAtFairValueThroughProfitOrLossMemberbbva:EquityInstrumentsMember2022-06-300000842180ifrs-full:DebtSecuritiesMemberbbva:NonTradingFinancialAssetsMandatorilyAtFairValueThroughProfitOrLossMember2022-06-300000842180bbva:LoansAndAdvancesMemberbbva:NonTradingFinancialAssetsMandatorilyAtFairValueThroughProfitOrLossMember2022-06-300000842180bbva:FinancialAssetsDesignatedAtFairValueThroughProfitOrLossMember2022-06-300000842180ifrs-full:DerivativesMember2022-06-300000842180ifrs-full:FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember2022-06-300000842180ifrs-full:FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMemberbbva:EquityInstrumentsMember2022-06-300000842180ifrs-full:DebtSecuritiesMemberifrs-full:FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember2022-06-300000842180bbva:Stage1Memberifrs-full:DebtSecuritiesMemberifrs-full:FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember2022-06-300000842180ifrs-full:DebtSecuritiesMemberifrs-full:FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMemberbbva:Stage2Member2022-06-300000842180bbva:Stage3Memberifrs-full:DebtSecuritiesMemberifrs-full:FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember2022-06-300000842180bbva:LoansAndAdvancesToCreditInstitutionsMemberifrs-full:FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember2022-06-300000842180bbva:Stage1Memberbbva:LoansAndAdvancesToCreditInstitutionsMemberifrs-full:FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember2022-06-300000842180bbva:LoansAndAdvancesToCreditInstitutionsMemberifrs-full:FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMemberbbva:Stage2Member2022-06-300000842180bbva:Stage3Memberbbva:LoansAndAdvancesToCreditInstitutionsMemberifrs-full:FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember2022-06-300000842180ifrs-full:FinancialAssetsAtAmortisedCostCategoryMember2022-06-300000842180ifrs-full:FinancialAssetsAtAmortisedCostCategoryMemberbbva:Stage1Member2022-06-300000842180ifrs-full:FinancialAssetsAtAmortisedCostCategoryMemberbbva:Stage2Member2022-06-300000842180ifrs-full:FinancialAssetsAtAmortisedCostCategoryMemberbbva:Stage3Member2022-06-300000842180ifrs-full:FinancialAssetsAtAmortisedCostCategoryMemberifrs-full:DebtSecuritiesMember2022-06-300000842180ifrs-full:FinancialAssetsAtAmortisedCostCategoryMemberbbva:Stage1Memberifrs-full:DebtSecuritiesMember2022-06-300000842180ifrs-full:FinancialAssetsAtAmortisedCostCategoryMemberifrs-full:DebtSecuritiesMemberbbva:Stage2Member2022-06-300000842180ifrs-full:FinancialAssetsAtAmortisedCostCategoryMemberbbva:Stage3Memberifrs-full:DebtSecuritiesMember2022-06-300000842180ifrs-full:FinancialAssetsAtAmortisedCostCategoryMemberbbva:LoansAndAdvancesToCentralBanksMember2022-06-300000842180ifrs-full:FinancialAssetsAtAmortisedCostCategoryMemberbbva:Stage1Memberbbva:LoansAndAdvancesToCentralBanksMember2022-06-300000842180ifrs-full:FinancialAssetsAtAmortisedCostCategoryMemberbbva:Stage2Memberbbva:LoansAndAdvancesToCentralBanksMember2022-06-300000842180ifrs-full:FinancialAssetsAtAmortisedCostCategoryMemberbbva:Stage3Memberbbva:LoansAndAdvancesToCentralBanksMember2022-06-300000842180ifrs-full:FinancialAssetsAtAmortisedCostCategoryMemberbbva:LoansAndAdvancesToCreditInstitutionsMember2022-06-300000842180ifrs-full:FinancialAssetsAtAmortisedCostCategoryMemberbbva:Stage1Memberbbva:LoansAndAdvancesToCreditInstitutionsMember2022-06-300000842180ifrs-full:FinancialAssetsAtAmortisedCostCategoryMemberbbva:LoansAndAdvancesToCreditInstitutionsMemberbbva:Stage2Member2022-06-300000842180ifrs-full:FinancialAssetsAtAmortisedCostCategoryMemberbbva:Stage3Memberbbva:LoansAndAdvancesToCreditInstitutionsMember2022-06-300000842180ifrs-full:FinancialAssetsAtAmortisedCostCategoryMemberbbva:LoansAndAdvancesToCustomersMember2022-06-300000842180ifrs-full:FinancialAssetsAtAmortisedCostCategoryMemberbbva:Stage1Memberbbva:LoansAndAdvancesToCustomersMember2022-06-300000842180ifrs-full:FinancialAssetsAtAmortisedCostCategoryMemberbbva:LoansAndAdvancesToCustomersMemberbbva:Stage2Member2022-06-300000842180ifrs-full:FinancialAssetsAtAmortisedCostCategoryMemberbbva:Stage3Memberbbva:LoansAndAdvancesToCustomersMember2022-06-300000842180bbva:TotalFinancialAssetsRiskMember2022-06-300000842180bbva:TotalLoanCommitmentsAndFinancialGuaranteesMember2022-06-300000842180bbva:TotalLoanCommitmentsAndFinancialGuaranteesMemberbbva:Stage1Member2022-06-300000842180bbva:TotalLoanCommitmentsAndFinancialGuaranteesMemberbbva:Stage2Member2022-06-300000842180bbva:TotalLoanCommitmentsAndFinancialGuaranteesMemberbbva:Stage3Member2022-06-300000842180bbva:TotalLoanCommitmentsAndFinancialGuaranteesMemberbbva:LoanCommitmentsGivenMember2022-06-300000842180bbva:TotalLoanCommitmentsAndFinancialGuaranteesMemberbbva:Stage1Memberbbva:LoanCommitmentsGivenMember2022-06-300000842180bbva:TotalLoanCommitmentsAndFinancialGuaranteesMemberbbva:LoanCommitmentsGivenMemberbbva:Stage2Member2022-06-300000842180bbva:Stage3Memberbbva:TotalLoanCommitmentsAndFinancialGuaranteesMemberbbva:LoanCommitmentsGivenMember2022-06-300000842180bbva:TotalLoanCommitmentsAndFinancialGuaranteesMemberbbva:FinancialGuaranteesGivenMember2022-06-300000842180bbva:TotalLoanCommitmentsAndFinancialGuaranteesMemberbbva:Stage1Memberbbva:FinancialGuaranteesGivenMember2022-06-300000842180bbva:TotalLoanCommitmentsAndFinancialGuaranteesMemberbbva:FinancialGuaranteesGivenMemberbbva:Stage2Member2022-06-300000842180bbva:Stage3Memberbbva:TotalLoanCommitmentsAndFinancialGuaranteesMemberbbva:FinancialGuaranteesGivenMember2022-06-300000842180bbva:TotalLoanCommitmentsAndFinancialGuaranteesMemberbbva:OtherCommitmentsGivenMember2022-06-300000842180bbva:TotalLoanCommitmentsAndFinancialGuaranteesMemberbbva:Stage1Memberbbva:OtherCommitmentsGivenMember2022-06-300000842180bbva:TotalLoanCommitmentsAndFinancialGuaranteesMemberbbva:OtherCommitmentsGivenMemberbbva:Stage2Member2022-06-300000842180bbva:Stage3Memberbbva:TotalLoanCommitmentsAndFinancialGuaranteesMemberbbva:OtherCommitmentsGivenMember2022-06-300000842180bbva:FinancialAssetsHeldForTradingMember2021-12-310000842180bbva:EquityInstrumentsMemberbbva:FinancialAssetsHeldForTradingMember2021-12-310000842180ifrs-full:DebtSecuritiesMemberbbva:FinancialAssetsHeldForTradingMember2021-12-310000842180bbva:LoansAndAdvancesMemberbbva:FinancialAssetsHeldForTradingMember2021-12-310000842180bbva:NonTradingFinancialAssetsMandatorilyAtFairValueThroughProfitOrLossMember2021-12-310000842180bbva:NonTradingFinancialAssetsMandatorilyAtFairValueThroughProfitOrLossMemberbbva:EquityInstrumentsMember2021-12-310000842180ifrs-full:DebtSecuritiesMemberbbva:NonTradingFinancialAssetsMandatorilyAtFairValueThroughProfitOrLossMember2021-12-310000842180bbva:LoansAndAdvancesMemberbbva:NonTradingFinancialAssetsMandatorilyAtFairValueThroughProfitOrLossMember2021-12-310000842180bbva:FinancialAssetsDesignatedAtFairValueThroughProfitOrLossMember2021-12-310000842180ifrs-full:DerivativesMember2021-12-310000842180ifrs-full:FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember2021-12-310000842180ifrs-full:FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMemberbbva:EquityInstrumentsMember2021-12-310000842180ifrs-full:DebtSecuritiesMemberifrs-full:FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember2021-12-310000842180bbva:Stage1Memberifrs-full:DebtSecuritiesMemberifrs-full:FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember2021-12-310000842180ifrs-full:DebtSecuritiesMemberifrs-full:FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMemberbbva:Stage2Member2021-12-310000842180bbva:Stage3Memberifrs-full:DebtSecuritiesMemberifrs-full:FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember2021-12-310000842180bbva:LoansAndAdvancesToCreditInstitutionsMemberifrs-full:FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember2021-12-310000842180bbva:Stage1Memberbbva:LoansAndAdvancesToCreditInstitutionsMemberifrs-full:FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember2021-12-310000842180bbva:LoansAndAdvancesToCreditInstitutionsMemberifrs-full:FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMemberbbva:Stage2Member2021-12-310000842180bbva:Stage3Memberbbva:LoansAndAdvancesToCreditInstitutionsMemberifrs-full:FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember2021-12-310000842180ifrs-full:FinancialAssetsAtAmortisedCostCategoryMember2021-12-310000842180ifrs-full:FinancialAssetsAtAmortisedCostCategoryMemberbbva:Stage1Member2021-12-310000842180ifrs-full:FinancialAssetsAtAmortisedCostCategoryMemberbbva:Stage2Member2021-12-310000842180ifrs-full:FinancialAssetsAtAmortisedCostCategoryMemberbbva:Stage3Member2021-12-310000842180ifrs-full:FinancialAssetsAtAmortisedCostCategoryMemberifrs-full:DebtSecuritiesMember2021-12-310000842180ifrs-full:FinancialAssetsAtAmortisedCostCategoryMemberbbva:Stage1Memberifrs-full:DebtSecuritiesMember2021-12-310000842180ifrs-full:FinancialAssetsAtAmortisedCostCategoryMemberifrs-full:DebtSecuritiesMemberbbva:Stage2Member2021-12-310000842180ifrs-full:FinancialAssetsAtAmortisedCostCategoryMemberbbva:Stage3Memberifrs-full:DebtSecuritiesMember2021-12-310000842180ifrs-full:FinancialAssetsAtAmortisedCostCategoryMemberbbva:LoansAndAdvancesToCentralBanksMember2021-12-310000842180ifrs-full:FinancialAssetsAtAmortisedCostCategoryMemberbbva:Stage1Memberbbva:LoansAndAdvancesToCentralBanksMember2021-12-310000842180ifrs-full:FinancialAssetsAtAmortisedCostCategoryMemberbbva:Stage2Memberbbva:LoansAndAdvancesToCentralBanksMember2021-12-310000842180ifrs-full:FinancialAssetsAtAmortisedCostCategoryMemberbbva:Stage3Memberbbva:LoansAndAdvancesToCentralBanksMember2021-12-310000842180ifrs-full:FinancialAssetsAtAmortisedCostCategoryMemberbbva:LoansAndAdvancesToCreditInstitutionsMember2021-12-310000842180ifrs-full:FinancialAssetsAtAmortisedCostCategoryMemberbbva:Stage1Memberbbva:LoansAndAdvancesToCreditInstitutionsMember2021-12-310000842180ifrs-full:FinancialAssetsAtAmortisedCostCategoryMemberbbva:LoansAndAdvancesToCreditInstitutionsMemberbbva:Stage2Member2021-12-310000842180ifrs-full:FinancialAssetsAtAmortisedCostCategoryMemberbbva:Stage3Memberbbva:LoansAndAdvancesToCreditInstitutionsMember2021-12-310000842180ifrs-full:FinancialAssetsAtAmortisedCostCategoryMemberbbva:LoansAndAdvancesToCustomersMember2021-12-310000842180ifrs-full:FinancialAssetsAtAmortisedCostCategoryMemberbbva:Stage1Memberbbva:LoansAndAdvancesToCustomersMember2021-12-310000842180ifrs-full:FinancialAssetsAtAmortisedCostCategoryMemberbbva:LoansAndAdvancesToCustomersMemberbbva:Stage2Member2021-12-310000842180ifrs-full:FinancialAssetsAtAmortisedCostCategoryMemberbbva:Stage3Memberbbva:LoansAndAdvancesToCustomersMember2021-12-310000842180bbva:TotalFinancialAssetsRiskMember2021-12-310000842180bbva:TotalLoanCommitmentsAndFinancialGuaranteesMember2021-12-310000842180bbva:TotalLoanCommitmentsAndFinancialGuaranteesMemberbbva:Stage1Member2021-12-310000842180bbva:TotalLoanCommitmentsAndFinancialGuaranteesMemberbbva:Stage2Member2021-12-310000842180bbva:TotalLoanCommitmentsAndFinancialGuaranteesMemberbbva:Stage3Member2021-12-310000842180bbva:TotalLoanCommitmentsAndFinancialGuaranteesMemberbbva:LoanCommitmentsGivenMember2021-12-310000842180bbva:TotalLoanCommitmentsAndFinancialGuaranteesMemberbbva:Stage1Memberbbva:LoanCommitmentsGivenMember2021-12-310000842180bbva:TotalLoanCommitmentsAndFinancialGuaranteesMemberbbva:LoanCommitmentsGivenMemberbbva:Stage2Member2021-12-310000842180bbva:Stage3Memberbbva:TotalLoanCommitmentsAndFinancialGuaranteesMemberbbva:LoanCommitmentsGivenMember2021-12-310000842180bbva:TotalLoanCommitmentsAndFinancialGuaranteesMemberbbva:FinancialGuaranteesGivenMember2021-12-310000842180bbva:TotalLoanCommitmentsAndFinancialGuaranteesMemberbbva:Stage1Memberbbva:FinancialGuaranteesGivenMember2021-12-310000842180bbva:TotalLoanCommitmentsAndFinancialGuaranteesMemberbbva:FinancialGuaranteesGivenMemberbbva:Stage2Member2021-12-310000842180bbva:Stage3Memberbbva:TotalLoanCommitmentsAndFinancialGuaranteesMemberbbva:FinancialGuaranteesGivenMember2021-12-310000842180bbva:TotalLoanCommitmentsAndFinancialGuaranteesMemberbbva:OtherCommitmentsGivenMember2021-12-310000842180bbva:TotalLoanCommitmentsAndFinancialGuaranteesMemberbbva:Stage1Memberbbva:OtherCommitmentsGivenMember2021-12-310000842180bbva:TotalLoanCommitmentsAndFinancialGuaranteesMemberbbva:OtherCommitmentsGivenMemberbbva:Stage2Member2021-12-310000842180bbva:Stage3Memberbbva:TotalLoanCommitmentsAndFinancialGuaranteesMemberbbva:OtherCommitmentsGivenMember2021-12-310000842180country:ESifrs-full:MajorCustomersMember2022-06-300000842180country:ESbbva:Stage1Memberifrs-full:MajorCustomersMember2022-06-300000842180country:ESbbva:Stage2Memberifrs-full:MajorCustomersMember2022-06-300000842180bbva:Stage3Membercountry:ESifrs-full:MajorCustomersMember2022-06-300000842180ifrs-full:MajorCustomersMembercountry:MX2022-06-300000842180bbva:Stage1Memberifrs-full:MajorCustomersMembercountry:MX2022-06-300000842180bbva:Stage2Memberifrs-full:MajorCustomersMembercountry:MX2022-06-300000842180bbva:Stage3Memberifrs-full:MajorCustomersMembercountry:MX2022-06-300000842180ifrs-full:MajorCustomersMembercountry:TR2022-06-300000842180bbva:Stage1Memberifrs-full:MajorCustomersMembercountry:TR2022-06-300000842180bbva:Stage2Memberifrs-full:MajorCustomersMembercountry:TR2022-06-300000842180bbva:Stage3Memberifrs-full:MajorCustomersMembercountry:TR2022-06-300000842180srt:SouthAmericaMemberifrs-full:MajorCustomersMember2022-06-300000842180srt:SouthAmericaMemberbbva:Stage1Memberifrs-full:MajorCustomersMember2022-06-300000842180srt:SouthAmericaMemberbbva:Stage2Memberifrs-full:MajorCustomersMember2022-06-300000842180srt:SouthAmericaMemberbbva:Stage3Memberifrs-full:MajorCustomersMember2022-06-300000842180bbva:OtherCountriesMemberifrs-full:MajorCustomersMember2022-06-300000842180bbva:OtherCountriesMemberbbva:Stage1Memberifrs-full:MajorCustomersMember2022-06-300000842180bbva:OtherCountriesMemberbbva:Stage2Memberifrs-full:MajorCustomersMember2022-06-300000842180bbva:Stage3Memberbbva:OtherCountriesMemberifrs-full:MajorCustomersMember2022-06-300000842180ifrs-full:MajorCustomersMemberbbva:TotalMaximumCreditRiskExposuresMember2022-06-300000842180bbva:Stage1Memberifrs-full:MajorCustomersMemberbbva:TotalMaximumCreditRiskExposuresMember2022-06-300000842180bbva:Stage2Memberifrs-full:MajorCustomersMemberbbva:TotalMaximumCreditRiskExposuresMember2022-06-300000842180bbva:Stage3Memberifrs-full:MajorCustomersMemberbbva:TotalMaximumCreditRiskExposuresMember2022-06-300000842180ifrs-full:MajorCustomersMemberbbva:OfWhichIndividualMember2022-06-300000842180bbva:Stage1Memberifrs-full:MajorCustomersMemberbbva:OfWhichIndividualMember2022-06-300000842180bbva:Stage2Memberifrs-full:MajorCustomersMemberbbva:OfWhichIndividualMember2022-06-300000842180bbva:Stage3Memberifrs-full:MajorCustomersMemberbbva:OfWhichIndividualMember2022-06-300000842180bbva:OfWhichCollectiveMemberifrs-full:MajorCustomersMember2022-06-300000842180bbva:Stage1Memberbbva:OfWhichCollectiveMemberifrs-full:MajorCustomersMember2022-06-300000842180bbva:OfWhichCollectiveMemberbbva:Stage2Memberifrs-full:MajorCustomersMember2022-06-300000842180bbva:Stage3Memberbbva:OfWhichCollectiveMemberifrs-full:MajorCustomersMember2022-06-300000842180country:ESifrs-full:MajorCustomersMember2021-12-310000842180country:ESbbva:Stage1Memberifrs-full:MajorCustomersMember2021-12-310000842180country:ESbbva:Stage2Memberifrs-full:MajorCustomersMember2021-12-310000842180bbva:Stage3Membercountry:ESifrs-full:MajorCustomersMember2021-12-310000842180ifrs-full:MajorCustomersMembercountry:MX2021-12-310000842180bbva:Stage1Memberifrs-full:MajorCustomersMembercountry:MX2021-12-310000842180bbva:Stage2Memberifrs-full:MajorCustomersMembercountry:MX2021-12-310000842180bbva:Stage3Memberifrs-full:MajorCustomersMembercountry:MX2021-12-310000842180ifrs-full:MajorCustomersMembercountry:TR2021-12-310000842180bbva:Stage1Memberifrs-full:MajorCustomersMembercountry:TR2021-12-310000842180bbva:Stage2Memberifrs-full:MajorCustomersMembercountry:TR2021-12-310000842180bbva:Stage3Memberifrs-full:MajorCustomersMembercountry:TR2021-12-310000842180srt:SouthAmericaMemberifrs-full:MajorCustomersMember2021-12-310000842180srt:SouthAmericaMemberbbva:Stage1Memberifrs-full:MajorCustomersMember2021-12-310000842180srt:SouthAmericaMemberbbva:Stage2Memberifrs-full:MajorCustomersMember2021-12-310000842180srt:SouthAmericaMemberbbva:Stage3Memberifrs-full:MajorCustomersMember2021-12-310000842180bbva:OtherCountriesMemberifrs-full:MajorCustomersMember2021-12-310000842180bbva:OtherCountriesMemberbbva:Stage1Memberifrs-full:MajorCustomersMember2021-12-310000842180bbva:OtherCountriesMemberbbva:Stage2Memberifrs-full:MajorCustomersMember2021-12-310000842180bbva:Stage3Memberbbva:OtherCountriesMemberifrs-full:MajorCustomersMember2021-12-310000842180ifrs-full:MajorCustomersMemberbbva:TotalMaximumCreditRiskExposuresMember2021-12-310000842180bbva:Stage1Memberifrs-full:MajorCustomersMemberbbva:TotalMaximumCreditRiskExposuresMember2021-12-310000842180bbva:Stage2Memberifrs-full:MajorCustomersMemberbbva:TotalMaximumCreditRiskExposuresMember2021-12-310000842180bbva:Stage3Memberifrs-full:MajorCustomersMemberbbva:TotalMaximumCreditRiskExposuresMember2021-12-310000842180ifrs-full:MajorCustomersMemberbbva:OfWhichIndividualMember2021-12-310000842180bbva:Stage1Memberifrs-full:MajorCustomersMemberbbva:OfWhichIndividualMember2021-12-310000842180bbva:Stage2Memberifrs-full:MajorCustomersMemberbbva:OfWhichIndividualMember2021-12-310000842180bbva:Stage3Memberifrs-full:MajorCustomersMemberbbva:OfWhichIndividualMember2021-12-310000842180bbva:OfWhichCollectiveMemberifrs-full:MajorCustomersMember2021-12-310000842180bbva:Stage1Memberbbva:OfWhichCollectiveMemberifrs-full:MajorCustomersMember2021-12-310000842180bbva:OfWhichCollectiveMemberbbva:Stage2Memberifrs-full:MajorCustomersMember2021-12-310000842180bbva:Stage3Memberbbva:OfWhichCollectiveMemberifrs-full:MajorCustomersMember2021-12-310000842180ifrs-full:OnDemandMemberbbva:CentralBanksMember2022-06-300000842180bbva:GeneralGovernmentMemberifrs-full:OnDemandMember2022-06-300000842180bbva:CreditInstitutionsMemberifrs-full:OnDemandMember2022-06-300000842180bbva:OtherFinancialCorporationsMemberifrs-full:OnDemandMember2022-06-300000842180bbva:NonFinancialCorporationsMemberifrs-full:OnDemandMember2022-06-300000842180bbva:HouseholdsMemberifrs-full:OnDemandMember2022-06-300000842180ifrs-full:OnDemandMember2022-06-300000842180ifrs-full:GrossCarryingAmountMemberifrs-full:OnDemandMember2022-06-300000842180bbva:CentralBanksMemberbbva:CreditCardDebtMember2022-06-300000842180bbva:GeneralGovernmentMemberbbva:CreditCardDebtMember2022-06-300000842180bbva:CreditInstitutionsMemberbbva:CreditCardDebtMember2022-06-300000842180bbva:OtherFinancialCorporationsMemberbbva:CreditCardDebtMember2022-06-300000842180bbva:NonFinancialCorporationsMemberbbva:CreditCardDebtMember2022-06-300000842180bbva:HouseholdsMemberbbva:CreditCardDebtMember2022-06-300000842180bbva:CreditCardDebtMember2022-06-300000842180ifrs-full:GrossCarryingAmountMemberbbva:CreditCardDebtMember2022-06-300000842180bbva:CommercialDebtorsMemberbbva:GeneralGovernmentMember2022-06-300000842180bbva:CreditInstitutionsMemberbbva:CommercialDebtorsMember2022-06-300000842180bbva:OtherFinancialCorporationsMemberbbva:CommercialDebtorsMember2022-06-300000842180bbva:CommercialDebtorsMemberbbva:NonFinancialCorporationsMember2022-06-300000842180bbva:HouseholdsMemberbbva:CommercialDebtorsMember2022-06-300000842180bbva:CommercialDebtorsMember2022-06-300000842180bbva:CommercialDebtorsMemberifrs-full:GrossCarryingAmountMember2022-06-300000842180bbva:FinanceLeasesMemberbbva:CentralBanksMember2022-06-300000842180bbva:FinanceLeasesMemberbbva:GeneralGovernmentMember2022-06-300000842180bbva:FinanceLeasesMemberbbva:CreditInstitutionsMember2022-06-300000842180bbva:OtherFinancialCorporationsMemberbbva:FinanceLeasesMember2022-06-300000842180bbva:FinanceLeasesMemberbbva:NonFinancialCorporationsMember2022-06-300000842180bbva:FinanceLeasesMemberbbva:HouseholdsMember2022-06-300000842180bbva:FinanceLeasesMember2022-06-300000842180bbva:FinanceLeasesMemberifrs-full:GrossCarryingAmountMember2022-06-300000842180bbva:ReverseRepurchaseLoansMemberbbva:CentralBanksMember2022-06-300000842180bbva:ReverseRepurchaseLoansMemberbbva:GeneralGovernmentMember2022-06-300000842180bbva:ReverseRepurchaseLoansMemberbbva:CreditInstitutionsMember2022-06-300000842180bbva:ReverseRepurchaseLoansMemberbbva:OtherFinancialCorporationsMember2022-06-300000842180bbva:ReverseRepurchaseLoansMemberbbva:NonFinancialCorporationsMember2022-06-300000842180bbva:ReverseRepurchaseLoansMemberbbva:HouseholdsMember2022-06-300000842180bbva:ReverseRepurchaseLoansMember2022-06-300000842180bbva:ReverseRepurchaseLoansMemberifrs-full:GrossCarryingAmountMember2022-06-300000842180bbva:OtherTermLoansMemberbbva:CentralBanksMember2022-06-300000842180bbva:OtherTermLoansMemberbbva:GeneralGovernmentMember2022-06-300000842180bbva:CreditInstitutionsMemberbbva:OtherTermLoansMember2022-06-300000842180bbva:OtherFinancialCorporationsMemberbbva:OtherTermLoansMember2022-06-300000842180bbva:OtherTermLoansMemberbbva:NonFinancialCorporationsMember2022-06-300000842180bbva:HouseholdsMemberbbva:OtherTermLoansMember2022-06-300000842180bbva:OtherTermLoansMember2022-06-300000842180bbva:OtherTermLoansMemberifrs-full:GrossCarryingAmountMember2022-06-300000842180bbva:AdvancesThatAreNotLoansMemberbbva:CentralBanksMember2022-06-300000842180bbva:GeneralGovernmentMemberbbva:AdvancesThatAreNotLoansMember2022-06-300000842180bbva:CreditInstitutionsMemberbbva:AdvancesThatAreNotLoansMember2022-06-300000842180bbva:OtherFinancialCorporationsMemberbbva:AdvancesThatAreNotLoansMember2022-06-300000842180bbva:NonFinancialCorporationsMemberbbva:AdvancesThatAreNotLoansMember2022-06-300000842180bbva:HouseholdsMemberbbva:AdvancesThatAreNotLoansMember2022-06-300000842180bbva:AdvancesThatAreNotLoansMember2022-06-300000842180ifrs-full:GrossCarryingAmountMemberbbva:AdvancesThatAreNotLoansMember2022-06-300000842180bbva:TotalLoansAndAdvancesByProductsMemberbbva:CentralBanksMember2022-06-300000842180bbva:TotalLoansAndAdvancesByProductsMemberbbva:GeneralGovernmentMember2022-06-300000842180bbva:TotalLoansAndAdvancesByProductsMemberbbva:CreditInstitutionsMember2022-06-300000842180bbva:TotalLoansAndAdvancesByProductsMemberbbva:OtherFinancialCorporationsMember2022-06-300000842180bbva:TotalLoansAndAdvancesByProductsMemberbbva:NonFinancialCorporationsMember2022-06-300000842180bbva:TotalLoansAndAdvancesByProductsMemberbbva:HouseholdsMember2022-06-300000842180bbva:TotalLoansAndAdvancesByProductsMember2022-06-300000842180bbva:TotalLoansAndAdvancesByProductsMemberifrs-full:GrossCarryingAmountMember2022-06-300000842180bbva:OfWhichMortagageLoansCollateralizedByImmovablePropertyMemberbbva:GeneralGovernmentMember2022-06-300000842180bbva:OfWhichMortagageLoansCollateralizedByImmovablePropertyMemberbbva:CreditInstitutionsMember2022-06-300000842180bbva:OtherFinancialCorporationsMemberbbva:OfWhichMortagageLoansCollateralizedByImmovablePropertyMember2022-06-300000842180bbva:OfWhichMortagageLoansCollateralizedByImmovablePropertyMemberbbva:NonFinancialCorporationsMember2022-06-300000842180bbva:OfWhichMortagageLoansCollateralizedByImmovablePropertyMemberbbva:HouseholdsMember2022-06-300000842180bbva:OfWhichMortagageLoansCollateralizedByImmovablePropertyMember2022-06-300000842180bbva:OfWhichMortagageLoansCollateralizedByImmovablePropertyMemberifrs-full:GrossCarryingAmountMember2022-06-300000842180bbva:OfWhichOtherCollateralizedLoansMemberbbva:CentralBanksMember2022-06-300000842180bbva:GeneralGovernmentMemberbbva:OfWhichOtherCollateralizedLoansMember2022-06-300000842180bbva:CreditInstitutionsMemberbbva:OfWhichOtherCollateralizedLoansMember2022-06-300000842180bbva:OtherFinancialCorporationsMemberbbva:OfWhichOtherCollateralizedLoansMember2022-06-300000842180bbva:NonFinancialCorporationsMemberbbva:OfWhichOtherCollateralizedLoansMember2022-06-300000842180bbva:HouseholdsMemberbbva:OfWhichOtherCollateralizedLoansMember2022-06-300000842180bbva:OfWhichOtherCollateralizedLoansMember2022-06-300000842180ifrs-full:GrossCarryingAmountMemberbbva:OfWhichOtherCollateralizedLoansMember2022-06-300000842180bbva:OfWhichCreditForConsumptionMemberbbva:HouseholdsMember2022-06-300000842180bbva:OfWhichCreditForConsumptionMember2022-06-300000842180bbva:OfWhichCreditForConsumptionMemberifrs-full:GrossCarryingAmountMember2022-06-300000842180bbva:OfWhichLendingForHousePurchaseMemberbbva:HouseholdsMember2022-06-300000842180bbva:OfWhichLendingForHousePurchaseMember2022-06-300000842180bbva:OfWhichLendingForHousePurchaseMemberifrs-full:GrossCarryingAmountMember2022-06-300000842180bbva:NonFinancialCorporationsMemberbbva:OfWhichProjectFinanceLoansMember2022-06-300000842180bbva:OfWhichProjectFinanceLoansMember2022-06-300000842180ifrs-full:GrossCarryingAmountMemberbbva:OfWhichProjectFinanceLoansMember2022-06-300000842180ifrs-full:OnDemandMemberbbva:CentralBanksMember2021-12-310000842180bbva:GeneralGovernmentMemberifrs-full:OnDemandMember2021-12-310000842180bbva:CreditInstitutionsMemberifrs-full:OnDemandMember2021-12-310000842180bbva:OtherFinancialCorporationsMemberifrs-full:OnDemandMember2021-12-310000842180bbva:NonFinancialCorporationsMemberifrs-full:OnDemandMember2021-12-310000842180bbva:HouseholdsMemberifrs-full:OnDemandMember2021-12-310000842180ifrs-full:OnDemandMember2021-12-310000842180ifrs-full:GrossCarryingAmountMemberifrs-full:OnDemandMember2021-12-310000842180bbva:CentralBanksMemberbbva:CreditCardDebtMember2021-12-310000842180bbva:GeneralGovernmentMemberbbva:CreditCardDebtMember2021-12-310000842180bbva:CreditInstitutionsMemberbbva:CreditCardDebtMember2021-12-310000842180bbva:OtherFinancialCorporationsMemberbbva:CreditCardDebtMember2021-12-310000842180bbva:NonFinancialCorporationsMemberbbva:CreditCardDebtMember2021-12-310000842180bbva:HouseholdsMemberbbva:CreditCardDebtMember2021-12-310000842180bbva:CreditCardDebtMember2021-12-310000842180ifrs-full:GrossCarryingAmountMemberbbva:CreditCardDebtMember2021-12-310000842180bbva:CommercialDebtorsMemberbbva:GeneralGovernmentMember2021-12-310000842180bbva:CreditInstitutionsMemberbbva:CommercialDebtorsMember2021-12-310000842180bbva:OtherFinancialCorporationsMemberbbva:CommercialDebtorsMember2021-12-310000842180bbva:CommercialDebtorsMemberbbva:NonFinancialCorporationsMember2021-12-310000842180bbva:HouseholdsMemberbbva:CommercialDebtorsMember2021-12-310000842180bbva:CommercialDebtorsMember2021-12-310000842180bbva:CommercialDebtorsMemberifrs-full:GrossCarryingAmountMember2021-12-310000842180bbva:FinanceLeasesMemberbbva:CentralBanksMember2021-12-310000842180bbva:FinanceLeasesMemberbbva:GeneralGovernmentMember2021-12-310000842180bbva:FinanceLeasesMemberbbva:CreditInstitutionsMember2021-12-310000842180bbva:OtherFinancialCorporationsMemberbbva:FinanceLeasesMember2021-12-310000842180bbva:FinanceLeasesMemberbbva:NonFinancialCorporationsMember2021-12-310000842180bbva:FinanceLeasesMemberbbva:HouseholdsMember2021-12-310000842180bbva:FinanceLeasesMember2021-12-310000842180bbva:FinanceLeasesMemberifrs-full:GrossCarryingAmountMember2021-12-310000842180bbva:ReverseRepurchaseLoansMemberbbva:CentralBanksMember2021-12-310000842180bbva:ReverseRepurchaseLoansMemberbbva:GeneralGovernmentMember2021-12-310000842180bbva:ReverseRepurchaseLoansMemberbbva:CreditInstitutionsMember2021-12-310000842180bbva:ReverseRepurchaseLoansMemberbbva:OtherFinancialCorporationsMember2021-12-310000842180bbva:ReverseRepurchaseLoansMemberbbva:NonFinancialCorporationsMember2021-12-310000842180bbva:ReverseRepurchaseLoansMemberbbva:HouseholdsMember2021-12-310000842180bbva:ReverseRepurchaseLoansMember2021-12-310000842180bbva:ReverseRepurchaseLoansMemberifrs-full:GrossCarryingAmountMember2021-12-310000842180bbva:OtherTermLoansMemberbbva:CentralBanksMember2021-12-310000842180bbva:OtherTermLoansMemberbbva:GeneralGovernmentMember2021-12-310000842180bbva:CreditInstitutionsMemberbbva:OtherTermLoansMember2021-12-310000842180bbva:OtherFinancialCorporationsMemberbbva:OtherTermLoansMember2021-12-310000842180bbva:OtherTermLoansMemberbbva:NonFinancialCorporationsMember2021-12-310000842180bbva:HouseholdsMemberbbva:OtherTermLoansMember2021-12-310000842180bbva:OtherTermLoansMember2021-12-310000842180bbva:OtherTermLoansMemberifrs-full:GrossCarryingAmountMember2021-12-310000842180bbva:AdvancesThatAreNotLoansMemberbbva:CentralBanksMember2021-12-310000842180bbva:GeneralGovernmentMemberbbva:AdvancesThatAreNotLoansMember2021-12-310000842180bbva:CreditInstitutionsMemberbbva:AdvancesThatAreNotLoansMember2021-12-310000842180bbva:OtherFinancialCorporationsMemberbbva:AdvancesThatAreNotLoansMember2021-12-310000842180bbva:NonFinancialCorporationsMemberbbva:AdvancesThatAreNotLoansMember2021-12-310000842180bbva:HouseholdsMemberbbva:AdvancesThatAreNotLoansMember2021-12-310000842180bbva:AdvancesThatAreNotLoansMember2021-12-310000842180ifrs-full:GrossCarryingAmountMemberbbva:AdvancesThatAreNotLoansMember2021-12-310000842180bbva:TotalLoansAndAdvancesByProductsMemberbbva:CentralBanksMember2021-12-310000842180bbva:TotalLoansAndAdvancesByProductsMemberbbva:GeneralGovernmentMember2021-12-310000842180bbva:TotalLoansAndAdvancesByProductsMemberbbva:CreditInstitutionsMember2021-12-310000842180bbva:TotalLoansAndAdvancesByProductsMemberbbva:OtherFinancialCorporationsMember2021-12-310000842180bbva:TotalLoansAndAdvancesByProductsMemberbbva:NonFinancialCorporationsMember2021-12-310000842180bbva:TotalLoansAndAdvancesByProductsMemberbbva:HouseholdsMember2021-12-310000842180bbva:TotalLoansAndAdvancesByProductsMember2021-12-310000842180bbva:TotalLoansAndAdvancesByProductsMemberifrs-full:GrossCarryingAmountMember2021-12-310000842180bbva:OfWhichMortagageLoansCollateralizedByImmovablePropertyMemberbbva:GeneralGovernmentMember2021-12-310000842180bbva:OfWhichMortagageLoansCollateralizedByImmovablePropertyMemberbbva:CreditInstitutionsMember2021-12-310000842180bbva:OtherFinancialCorporationsMemberbbva:OfWhichMortagageLoansCollateralizedByImmovablePropertyMember2021-12-310000842180bbva:OfWhichMortagageLoansCollateralizedByImmovablePropertyMemberbbva:NonFinancialCorporationsMember2021-12-310000842180bbva:OfWhichMortagageLoansCollateralizedByImmovablePropertyMemberbbva:HouseholdsMember2021-12-310000842180bbva:OfWhichMortagageLoansCollateralizedByImmovablePropertyMember2021-12-310000842180bbva:OfWhichMortagageLoansCollateralizedByImmovablePropertyMemberifrs-full:GrossCarryingAmountMember2021-12-310000842180bbva:OfWhichOtherCollateralizedLoansMemberbbva:CentralBanksMember2021-12-310000842180bbva:GeneralGovernmentMemberbbva:OfWhichOtherCollateralizedLoansMember2021-12-310000842180bbva:CreditInstitutionsMemberbbva:OfWhichOtherCollateralizedLoansMember2021-12-310000842180bbva:OtherFinancialCorporationsMemberbbva:OfWhichOtherCollateralizedLoansMember2021-12-310000842180bbva:NonFinancialCorporationsMemberbbva:OfWhichOtherCollateralizedLoansMember2021-12-310000842180bbva:HouseholdsMemberbbva:OfWhichOtherCollateralizedLoansMember2021-12-310000842180bbva:OfWhichOtherCollateralizedLoansMember2021-12-310000842180ifrs-full:GrossCarryingAmountMemberbbva:OfWhichOtherCollateralizedLoansMember2021-12-310000842180bbva:OfWhichCreditForConsumptionMemberbbva:HouseholdsMember2021-12-310000842180bbva:OfWhichCreditForConsumptionMember2021-12-310000842180bbva:OfWhichCreditForConsumptionMemberifrs-full:GrossCarryingAmountMember2021-12-310000842180bbva:OfWhichLendingForHousePurchaseMemberbbva:HouseholdsMember2021-12-310000842180bbva:OfWhichLendingForHousePurchaseMember2021-12-310000842180bbva:OfWhichLendingForHousePurchaseMemberifrs-full:GrossCarryingAmountMember2021-12-310000842180bbva:NonFinancialCorporationsMemberbbva:OfWhichProjectFinanceLoansMember2021-12-310000842180bbva:OfWhichProjectFinanceLoansMember2021-12-310000842180ifrs-full:GrossCarryingAmountMemberbbva:OfWhichProjectFinanceLoansMember2021-12-310000842180bbva:ValueOfCollateralMember2022-06-300000842180bbva:ValueOfCollateralMember2021-12-310000842180bbva:OfWhichGuaranteesNormalRisksUnderSpecialMonitoringMemberbbva:ValueOfCollateralMember2022-06-300000842180bbva:OfWhichGuaranteesNormalRisksUnderSpecialMonitoringMemberbbva:ValueOfCollateralMember2021-12-310000842180bbva:ValueOfCollateralMemberbbva:OfWhichGuaranteesNonPerformingRisksMember2022-06-300000842180bbva:ValueOfCollateralMemberbbva:OfWhichGuaranteesNonPerformingRisksMember2021-12-310000842180bbva:ValueOfOtherGuaranteesMember2022-06-300000842180bbva:ValueOfOtherGuaranteesMember2021-12-310000842180bbva:OfWhichGuaranteesNormalRisksUnderSpecialMonitoringMemberbbva:ValueOfOtherGuaranteesMember2022-06-300000842180bbva:OfWhichGuaranteesNormalRisksUnderSpecialMonitoringMemberbbva:ValueOfOtherGuaranteesMember2021-12-310000842180bbva:OfWhichGuaranteesNonPerformingRisksMemberbbva:ValueOfOtherGuaranteesMember2022-06-300000842180bbva:OfWhichGuaranteesNonPerformingRisksMemberbbva:ValueOfOtherGuaranteesMember2021-12-310000842180bbva:CentralBanksMember2022-06-30xbrli:pure0000842180bbva:GeneralGovermentMember2022-06-300000842180bbva:CreditInstitutionsMember2022-06-300000842180bbva:OtherFinancialInstitutionsMember2022-06-300000842180bbva:NonFinancialCorporationsMember2022-06-300000842180bbva:HouseholdsMember2022-06-300000842180bbva:CentralBanksMember2021-12-310000842180bbva:GeneralGovermentMember2021-12-310000842180bbva:CreditInstitutionsMember2021-12-310000842180bbva:OtherFinancialInstitutionsMember2021-12-310000842180bbva:NonFinancialCorporationsMember2021-12-310000842180bbva:HouseholdsMember2021-12-3100008421802021-01-012021-12-310000842180bbva:A2022Memberbbva:PositiveScenarioMembercountry:ES2022-06-300000842180country:MXbbva:A2022Memberbbva:PositiveScenarioMember2022-06-300000842180bbva:A2022Memberbbva:PositiveScenarioMembercountry:TR2022-06-300000842180bbva:A2023Memberbbva:PositiveScenarioMembercountry:ES2022-06-300000842180country:MXbbva:A2023Memberbbva:PositiveScenarioMember2022-06-300000842180bbva:A2023Memberbbva:PositiveScenarioMembercountry:TR2022-06-300000842180bbva:PositiveScenarioMemberbbva:A2024Membercountry:ES2022-06-300000842180country:MXbbva:PositiveScenarioMemberbbva:A2024Member2022-06-300000842180bbva:PositiveScenarioMemberbbva:A2024Membercountry:TR2022-06-300000842180bbva:A2025Memberbbva:PositiveScenarioMembercountry:ES2022-06-300000842180country:MXbbva:A2025Memberbbva:PositiveScenarioMember2022-06-300000842180bbva:A2025Memberbbva:PositiveScenarioMembercountry:TR2022-06-300000842180bbva:PositiveScenarioMemberbbva:A2026Membercountry:ES2022-06-300000842180country:MXbbva:PositiveScenarioMemberbbva:A2026Member2022-06-300000842180bbva:PositiveScenarioMembercountry:TRbbva:A2026Member2022-06-300000842180bbva:PositiveScenarioMembercountry:ESbbva:A2027Member2022-06-300000842180country:MXbbva:PositiveScenarioMemberbbva:A2027Member2022-06-300000842180bbva:PositiveScenarioMembercountry:TRbbva:A2027Member2022-06-300000842180bbva:A2022Memberbbva:PositiveScenarioMembercountry:PE2022-06-300000842180country:ARbbva:A2022Memberbbva:PositiveScenarioMember2022-06-300000842180bbva:A2022Memberbbva:PositiveScenarioMembercountry:CO2022-06-300000842180bbva:A2023Memberbbva:PositiveScenarioMembercountry:PE2022-06-300000842180country:ARbbva:A2023Memberbbva:PositiveScenarioMember2022-06-300000842180bbva:A2023Memberbbva:PositiveScenarioMembercountry:CO2022-06-300000842180bbva:PositiveScenarioMemberbbva:A2024Membercountry:PE2022-06-300000842180country:ARbbva:PositiveScenarioMemberbbva:A2024Member2022-06-300000842180bbva:PositiveScenarioMemberbbva:A2024Membercountry:CO2022-06-300000842180bbva:A2025Memberbbva:PositiveScenarioMembercountry:PE2022-06-300000842180country:ARbbva:A2025Memberbbva:PositiveScenarioMember2022-06-300000842180bbva:A2025Memberbbva:PositiveScenarioMembercountry:CO2022-06-300000842180bbva:PositiveScenarioMemberbbva:A2026Membercountry:PE2022-06-300000842180country:ARbbva:PositiveScenarioMemberbbva:A2026Member2022-06-300000842180bbva:PositiveScenarioMembercountry:CObbva:A2026Member2022-06-300000842180bbva:PositiveScenarioMembercountry:PEbbva:A2027Member2022-06-300000842180country:ARbbva:PositiveScenarioMemberbbva:A2027Member2022-06-300000842180bbva:PositiveScenarioMembercountry:CObbva:A2027Member2022-06-300000842180bbva:A2022Memberbbva:EstimateScenarioMembercountry:ES2022-06-300000842180country:MXbbva:A2022Memberbbva:EstimateScenarioMember2022-06-300000842180bbva:A2022Membercountry:TRbbva:EstimateScenarioMember2022-06-300000842180bbva:A2023Memberbbva:EstimateScenarioMembercountry:ES2022-06-300000842180country:MXbbva:A2023Memberbbva:EstimateScenarioMember2022-06-300000842180bbva:A2023Membercountry:TRbbva:EstimateScenarioMember2022-06-300000842180bbva:A2024Memberbbva:EstimateScenarioMembercountry:ES2022-06-300000842180country:MXbbva:A2024Memberbbva:EstimateScenarioMember2022-06-300000842180bbva:A2024Membercountry:TRbbva:EstimateScenarioMember2022-06-300000842180bbva:A2025Memberbbva:EstimateScenarioMembercountry:ES2022-06-300000842180country:MXbbva:A2025Memberbbva:EstimateScenarioMember2022-06-300000842180bbva:A2025Membercountry:TRbbva:EstimateScenarioMember2022-06-300000842180bbva:A2026Memberbbva:EstimateScenarioMembercountry:ES2022-06-300000842180country:MXbbva:A2026Memberbbva:EstimateScenarioMember2022-06-300000842180country:TRbbva:A2026Memberbbva:EstimateScenarioMember2022-06-300000842180bbva:EstimateScenarioMembercountry:ESbbva:A2027Member2022-06-300000842180country:MXbbva:EstimateScenarioMemberbbva:A2027Member2022-06-300000842180country:TRbbva:EstimateScenarioMemberbbva:A2027Member2022-06-300000842180bbva:A2022Membercountry:PEbbva:EstimateScenarioMember2022-06-300000842180country:ARbbva:A2022Memberbbva:EstimateScenarioMember2022-06-300000842180bbva:A2022Membercountry:CObbva:EstimateScenarioMember2022-06-300000842180bbva:A2023Membercountry:PEbbva:EstimateScenarioMember2022-06-300000842180country:ARbbva:A2023Memberbbva:EstimateScenarioMember2022-06-300000842180bbva:A2023Membercountry:CObbva:EstimateScenarioMember2022-06-300000842180bbva:A2024Membercountry:PEbbva:EstimateScenarioMember2022-06-300000842180country:ARbbva:A2024Memberbbva:EstimateScenarioMember2022-06-300000842180bbva:A2024Membercountry:CObbva:EstimateScenarioMember2022-06-300000842180bbva:A2025Membercountry:PEbbva:EstimateScenarioMember2022-06-300000842180country:ARbbva:A2025Memberbbva:EstimateScenarioMember2022-06-300000842180bbva:A2025Membercountry:CObbva:EstimateScenarioMember2022-06-300000842180bbva:A2026Membercountry:PEbbva:EstimateScenarioMember2022-06-300000842180country:ARbbva:A2026Memberbbva:EstimateScenarioMember2022-06-300000842180country:CObbva:A2026Memberbbva:EstimateScenarioMember2022-06-300000842180country:PEbbva:EstimateScenarioMemberbbva:A2027Member2022-06-300000842180country:ARbbva:EstimateScenarioMemberbbva:A2027Member2022-06-300000842180country:CObbva:EstimateScenarioMemberbbva:A2027Member2022-06-300000842180bbva:A2022Memberbbva:NegativeScenarioMembercountry:ES2022-06-300000842180country:MXbbva:A2022Memberbbva:NegativeScenarioMember2022-06-300000842180bbva:A2022Memberbbva:NegativeScenarioMembercountry:TR2022-06-300000842180bbva:NegativeScenarioMemberbbva:A2023Membercountry:ES2022-06-300000842180country:MXbbva:NegativeScenarioMemberbbva:A2023Member2022-06-300000842180bbva:NegativeScenarioMemberbbva:A2023Membercountry:TR2022-06-300000842180bbva:NegativeScenarioMemberbbva:A2024Membercountry:ES2022-06-300000842180country:MXbbva:NegativeScenarioMemberbbva:A2024Member2022-06-300000842180bbva:NegativeScenarioMemberbbva:A2024Membercountry:TR2022-06-300000842180bbva:A2025Memberbbva:NegativeScenarioMembercountry:ES2022-06-300000842180country:MXbbva:A2025Memberbbva:NegativeScenarioMember2022-06-300000842180bbva:A2025Memberbbva:NegativeScenarioMembercountry:TR2022-06-300000842180bbva:NegativeScenarioMemberbbva:A2026Membercountry:ES2022-06-300000842180country:MXbbva:NegativeScenarioMemberbbva:A2026Member2022-06-300000842180bbva:NegativeScenarioMembercountry:TRbbva:A2026Member2022-06-300000842180bbva:NegativeScenarioMembercountry:ESbbva:A2027Member2022-06-300000842180country:MXbbva:NegativeScenarioMemberbbva:A2027Member2022-06-300000842180bbva:NegativeScenarioMembercountry:TRbbva:A2027Member2022-06-300000842180bbva:A2022Memberbbva:NegativeScenarioMembercountry:PE2022-06-300000842180country:ARbbva:A2022Memberbbva:NegativeScenarioMember2022-06-300000842180bbva:A2022Memberbbva:NegativeScenarioMembercountry:CO2022-06-300000842180bbva:NegativeScenarioMemberbbva:A2023Membercountry:PE2022-06-300000842180country:ARbbva:NegativeScenarioMemberbbva:A2023Member2022-06-300000842180bbva:NegativeScenarioMemberbbva:A2023Membercountry:CO2022-06-300000842180bbva:NegativeScenarioMemberbbva:A2024Membercountry:PE2022-06-300000842180country:ARbbva:NegativeScenarioMemberbbva:A2024Member2022-06-300000842180bbva:NegativeScenarioMemberbbva:A2024Membercountry:CO2022-06-300000842180bbva:A2025Memberbbva:NegativeScenarioMembercountry:PE2022-06-300000842180country:ARbbva:A2025Memberbbva:NegativeScenarioMember2022-06-300000842180bbva:A2025Memberbbva:NegativeScenarioMembercountry:CO2022-06-300000842180bbva:NegativeScenarioMemberbbva:A2026Membercountry:PE2022-06-300000842180country:ARbbva:NegativeScenarioMemberbbva:A2026Member2022-06-300000842180bbva:NegativeScenarioMembercountry:CObbva:A2026Member2022-06-300000842180bbva:NegativeScenarioMembercountry:PEbbva:A2027Member2022-06-300000842180country:ARbbva:NegativeScenarioMemberbbva:A2027Member2022-06-300000842180bbva:NegativeScenarioMembercountry:CObbva:A2027Member2022-06-300000842180bbva:BbvaGroupMemberbbva:TotalPortfolioMember2022-06-300000842180bbva:BbvaGroupMemberbbva:RetailMember2022-06-300000842180bbva:BbvaGroupMemberifrs-full:MortgagesMember2022-06-300000842180bbva:WholesalerMemberbbva:BbvaGroupMember2022-06-300000842180bbva:FixedIncomeMemberbbva:BbvaGroupMember2022-06-300000842180country:ESbbva:TotalPortfolioMember2022-06-300000842180country:ESifrs-full:MortgagesMember2022-06-300000842180bbva:CompaniesMembercountry:ES2022-06-300000842180country:MXbbva:TotalPortfolioMember2022-06-300000842180country:MXifrs-full:MortgagesMember2022-06-300000842180country:MXbbva:CardsMember2022-06-300000842180country:TRbbva:TotalPortfolioMember2022-06-300000842180country:TRifrs-full:MortgagesMember2022-06-300000842180country:TRbbva:CardsMember2022-06-300000842180bbva:Stage1Member2022-01-012022-06-300000842180bbva:Stage1Member2021-01-012021-12-310000842180bbva:Stage2Member2022-01-012022-06-300000842180bbva:Stage2Member2021-01-012021-12-310000842180bbva:Stage3Member2022-01-012022-06-300000842180bbva:Stage3Member2021-01-012021-12-310000842180ifrs-full:AtFairValueMember2022-06-300000842180ifrs-full:AtFairValueMember2021-12-310000842180ifrs-full:Level1OfFairValueHierarchyMemberbbva:CashCashBalancesAtCentralBanksAndOtherDemandDepositsMember2022-06-300000842180ifrs-full:Level2OfFairValueHierarchyMemberbbva:CashCashBalancesAtCentralBanksAndOtherDemandDepositsMember2022-06-300000842180ifrs-full:Level3OfFairValueHierarchyMemberbbva:CashCashBalancesAtCentralBanksAndOtherDemandDepositsMember2022-06-300000842180ifrs-full:Level1OfFairValueHierarchyMemberbbva:CashCashBalancesAtCentralBanksAndOtherDemandDepositsMember2021-12-310000842180ifrs-full:Level2OfFairValueHierarchyMemberbbva:CashCashBalancesAtCentralBanksAndOtherDemandDepositsMember2021-12-310000842180ifrs-full:Level3OfFairValueHierarchyMemberbbva:CashCashBalancesAtCentralBanksAndOtherDemandDepositsMember2021-12-310000842180bbva:FinancialAssetsHeldForTradingMemberifrs-full:Level1OfFairValueHierarchyMember2022-06-300000842180bbva:FinancialAssetsHeldForTradingMemberifrs-full:Level2OfFairValueHierarchyMember2022-06-300000842180ifrs-full:Level3OfFairValueHierarchyMemberbbva:FinancialAssetsHeldForTradingMember2022-06-300000842180bbva:FinancialAssetsHeldForTradingMemberifrs-full:Level1OfFairValueHierarchyMember2021-12-310000842180bbva:FinancialAssetsHeldForTradingMemberifrs-full:Level2OfFairValueHierarchyMember2021-12-310000842180ifrs-full:Level3OfFairValueHierarchyMemberbbva:FinancialAssetsHeldForTradingMember2021-12-310000842180bbva:FinancialAssetsHeldForTradingMemberifrs-full:DerivativesMemberifrs-full:Level1OfFairValueHierarchyMember2022-06-300000842180bbva:FinancialAssetsHeldForTradingMemberifrs-full:DerivativesMemberifrs-full:Level2OfFairValueHierarchyMember2022-06-300000842180ifrs-full:Level3OfFairValueHierarchyMemberbbva:FinancialAssetsHeldForTradingMemberifrs-full:DerivativesMember2022-06-300000842180bbva:FinancialAssetsHeldForTradingMemberifrs-full:DerivativesMemberifrs-full:Level1OfFairValueHierarchyMember2021-12-310000842180bbva:FinancialAssetsHeldForTradingMemberifrs-full:DerivativesMemberifrs-full:Level2OfFairValueHierarchyMember2021-12-310000842180ifrs-full:Level3OfFairValueHierarchyMemberbbva:FinancialAssetsHeldForTradingMemberifrs-full:DerivativesMember2021-12-310000842180bbva:FinancialAssetsHeldForTradingMemberbbva:EquityInstrumentsMemberifrs-full:Level1OfFairValueHierarchyMember2022-06-300000842180bbva:FinancialAssetsHeldForTradingMemberbbva:EquityInstrumentsMemberifrs-full:Level2OfFairValueHierarchyMember2022-06-300000842180ifrs-full:Level3OfFairValueHierarchyMemberbbva:FinancialAssetsHeldForTradingMemberbbva:EquityInstrumentsMember2022-06-300000842180bbva:FinancialAssetsHeldForTradingMemberbbva:EquityInstrumentsMemberifrs-full:Level1OfFairValueHierarchyMember2021-12-310000842180bbva:FinancialAssetsHeldForTradingMemberbbva:EquityInstrumentsMemberifrs-full:Level2OfFairValueHierarchyMember2021-12-310000842180ifrs-full:Level3OfFairValueHierarchyMemberbbva:FinancialAssetsHeldForTradingMemberbbva:EquityInstrumentsMember2021-12-310000842180bbva:FinancialAssetsHeldForTradingMemberifrs-full:DebtSecuritiesMemberifrs-full:Level1OfFairValueHierarchyMember2022-06-300000842180bbva:FinancialAssetsHeldForTradingMemberifrs-full:DebtSecuritiesMemberifrs-full:Level2OfFairValueHierarchyMember2022-06-300000842180ifrs-full:Level3OfFairValueHierarchyMemberbbva:FinancialAssetsHeldForTradingMemberifrs-full:DebtSecuritiesMember2022-06-300000842180bbva:FinancialAssetsHeldForTradingMemberifrs-full:DebtSecuritiesMemberifrs-full:Level1OfFairValueHierarchyMember2021-12-310000842180bbva:FinancialAssetsHeldForTradingMemberifrs-full:DebtSecuritiesMemberifrs-full:Level2OfFairValueHierarchyMember2021-12-310000842180ifrs-full:Level3OfFairValueHierarchyMemberbbva:FinancialAssetsHeldForTradingMemberifrs-full:DebtSecuritiesMember2021-12-310000842180bbva:LoansAndAdvancesMemberbbva:FinancialAssetsHeldForTradingMemberifrs-full:Level1OfFairValueHierarchyMember2022-06-300000842180bbva:LoansAndAdvancesMemberbbva:FinancialAssetsHeldForTradingMemberifrs-full:Level2OfFairValueHierarchyMember2022-06-300000842180bbva:LoansAndAdvancesMemberifrs-full:Level3OfFairValueHierarchyMemberbbva:FinancialAssetsHeldForTradingMember2022-06-300000842180bbva:LoansAndAdvancesMemberbbva:FinancialAssetsHeldForTradingMemberifrs-full:Level1OfFairValueHierarchyMember2021-12-310000842180bbva:LoansAndAdvancesMemberbbva:FinancialAssetsHeldForTradingMemberifrs-full:Level2OfFairValueHierarchyMember2021-12-310000842180bbva:LoansAndAdvancesMemberifrs-full:Level3OfFairValueHierarchyMemberbbva:FinancialAssetsHeldForTradingMember2021-12-310000842180bbva:NonTradingFinancialAssetsMandatorilyAtFairValueThroughProfitOrLossMemberifrs-full:Level1OfFairValueHierarchyMember2022-06-300000842180bbva:NonTradingFinancialAssetsMandatorilyAtFairValueThroughProfitOrLossMemberifrs-full:Level2OfFairValueHierarchyMember2022-06-300000842180ifrs-full:Level3OfFairValueHierarchyMemberbbva:NonTradingFinancialAssetsMandatorilyAtFairValueThroughProfitOrLossMember2022-06-300000842180bbva:NonTradingFinancialAssetsMandatorilyAtFairValueThroughProfitOrLossMemberifrs-full:Level1OfFairValueHierarchyMember2021-12-310000842180bbva:NonTradingFinancialAssetsMandatorilyAtFairValueThroughProfitOrLossMemberifrs-full:Level2OfFairValueHierarchyMember2021-12-310000842180ifrs-full:Level3OfFairValueHierarchyMemberbbva:NonTradingFinancialAssetsMandatorilyAtFairValueThroughProfitOrLossMember2021-12-310000842180bbva:NonTradingFinancialAssetsMandatorilyAtFairValueThroughProfitOrLossMemberbbva:EquityInstrumentsMemberifrs-full:Level1OfFairValueHierarchyMember2022-06-300000842180bbva:NonTradingFinancialAssetsMandatorilyAtFairValueThroughProfitOrLossMemberbbva:EquityInstrumentsMemberifrs-full:Level2OfFairValueHierarchyMember2022-06-300000842180ifrs-full:Level3OfFairValueHierarchyMemberbbva:NonTradingFinancialAssetsMandatorilyAtFairValueThroughProfitOrLossMemberbbva:EquityInstrumentsMember2022-06-300000842180bbva:NonTradingFinancialAssetsMandatorilyAtFairValueThroughProfitOrLossMemberbbva:EquityInstrumentsMemberifrs-full:Level1OfFairValueHierarchyMember2021-12-310000842180bbva:NonTradingFinancialAssetsMandatorilyAtFairValueThroughProfitOrLossMemberbbva:EquityInstrumentsMemberifrs-full:Level2OfFairValueHierarchyMember2021-12-310000842180ifrs-full:Level3OfFairValueHierarchyMemberbbva:NonTradingFinancialAssetsMandatorilyAtFairValueThroughProfitOrLossMemberbbva:EquityInstrumentsMember2021-12-310000842180bbva:NonTradingFinancialAssetsMandatorilyAtFairValueThroughProfitOrLossMemberifrs-full:DebtSecuritiesMemberifrs-full:Level1OfFairValueHierarchyMember2022-06-300000842180bbva:NonTradingFinancialAssetsMandatorilyAtFairValueThroughProfitOrLossMemberifrs-full:DebtSecuritiesMemberifrs-full:Level2OfFairValueHierarchyMember2022-06-300000842180ifrs-full:Level3OfFairValueHierarchyMemberbbva:NonTradingFinancialAssetsMandatorilyAtFairValueThroughProfitOrLossMemberifrs-full:DebtSecuritiesMember2022-06-300000842180bbva:NonTradingFinancialAssetsMandatorilyAtFairValueThroughProfitOrLossMemberifrs-full:DebtSecuritiesMemberifrs-full:Level1OfFairValueHierarchyMember2021-12-310000842180bbva:NonTradingFinancialAssetsMandatorilyAtFairValueThroughProfitOrLossMemberifrs-full:DebtSecuritiesMemberifrs-full:Level2OfFairValueHierarchyMember2021-12-310000842180ifrs-full:Level3OfFairValueHierarchyMemberbbva:NonTradingFinancialAssetsMandatorilyAtFairValueThroughProfitOrLossMemberifrs-full:DebtSecuritiesMember2021-12-310000842180bbva:LoansAndAdvancesMemberbbva:NonTradingFinancialAssetsMandatorilyAtFairValueThroughProfitOrLossMemberifrs-full:Level1OfFairValueHierarchyMember2022-06-300000842180bbva:LoansAndAdvancesMemberbbva:NonTradingFinancialAssetsMandatorilyAtFairValueThroughProfitOrLossMemberifrs-full:Level2OfFairValueHierarchyMember2022-06-300000842180bbva:LoansAndAdvancesMemberifrs-full:Level3OfFairValueHierarchyMemberbbva:NonTradingFinancialAssetsMandatorilyAtFairValueThroughProfitOrLossMember2022-06-300000842180bbva:LoansAndAdvancesMemberbbva:NonTradingFinancialAssetsMandatorilyAtFairValueThroughProfitOrLossMemberifrs-full:Level1OfFairValueHierarchyMember2021-12-310000842180bbva:LoansAndAdvancesMemberbbva:NonTradingFinancialAssetsMandatorilyAtFairValueThroughProfitOrLossMemberifrs-full:Level2OfFairValueHierarchyMember2021-12-310000842180bbva:LoansAndAdvancesMemberifrs-full:Level3OfFairValueHierarchyMemberbbva:NonTradingFinancialAssetsMandatorilyAtFairValueThroughProfitOrLossMember2021-12-310000842180ifrs-full:Level1OfFairValueHierarchyMemberifrs-full:FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember2022-06-300000842180ifrs-full:Level2OfFairValueHierarchyMemberifrs-full:FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember2022-06-300000842180ifrs-full:Level3OfFairValueHierarchyMemberifrs-full:FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember2022-06-300000842180ifrs-full:Level1OfFairValueHierarchyMemberifrs-full:FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember2021-12-310000842180ifrs-full:Level2OfFairValueHierarchyMemberifrs-full:FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember2021-12-310000842180ifrs-full:Level3OfFairValueHierarchyMemberifrs-full:FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember2021-12-310000842180bbva:EquityInstrumentsMemberifrs-full:Level1OfFairValueHierarchyMemberifrs-full:FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember2022-06-300000842180bbva:EquityInstrumentsMemberifrs-full:Level2OfFairValueHierarchyMemberifrs-full:FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember2022-06-300000842180ifrs-full:Level3OfFairValueHierarchyMemberbbva:EquityInstrumentsMemberifrs-full:FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember2022-06-300000842180bbva:EquityInstrumentsMemberifrs-full:Level1OfFairValueHierarchyMemberifrs-full:FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember2021-12-310000842180bbva:EquityInstrumentsMemberifrs-full:Level2OfFairValueHierarchyMemberifrs-full:FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember2021-12-310000842180ifrs-full:Level3OfFairValueHierarchyMemberbbva:EquityInstrumentsMemberifrs-full:FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember2021-12-310000842180ifrs-full:DebtSecuritiesMemberifrs-full:Level1OfFairValueHierarchyMemberifrs-full:FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember2022-06-300000842180ifrs-full:DebtSecuritiesMemberifrs-full:Level2OfFairValueHierarchyMemberifrs-full:FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember2022-06-300000842180ifrs-full:Level3OfFairValueHierarchyMemberifrs-full:DebtSecuritiesMemberifrs-full:FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember2022-06-300000842180ifrs-full:DebtSecuritiesMemberifrs-full:Level1OfFairValueHierarchyMemberifrs-full:FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember2021-12-310000842180ifrs-full:DebtSecuritiesMemberifrs-full:Level2OfFairValueHierarchyMemberifrs-full:FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember2021-12-310000842180ifrs-full:Level3OfFairValueHierarchyMemberifrs-full:DebtSecuritiesMemberifrs-full:FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember2021-12-310000842180bbva:LoansAndAdvancesMemberifrs-full:Level1OfFairValueHierarchyMemberifrs-full:FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember2022-06-300000842180bbva:LoansAndAdvancesMemberifrs-full:Level2OfFairValueHierarchyMemberifrs-full:FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember2022-06-300000842180bbva:LoansAndAdvancesMemberifrs-full:Level3OfFairValueHierarchyMemberifrs-full:FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember2022-06-300000842180bbva:LoansAndAdvancesMemberifrs-full:Level1OfFairValueHierarchyMemberifrs-full:FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember2021-12-310000842180bbva:LoansAndAdvancesMemberifrs-full:Level2OfFairValueHierarchyMemberifrs-full:FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember2021-12-310000842180bbva:LoansAndAdvancesMemberifrs-full:Level3OfFairValueHierarchyMemberifrs-full:FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember2021-12-310000842180ifrs-full:FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMemberifrs-full:Level1OfFairValueHierarchyMember2022-06-300000842180ifrs-full:FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMemberifrs-full:Level2OfFairValueHierarchyMember2022-06-300000842180ifrs-full:Level3OfFairValueHierarchyMemberifrs-full:FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember2022-06-300000842180ifrs-full:FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMemberifrs-full:Level1OfFairValueHierarchyMember2021-12-310000842180ifrs-full:FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMemberifrs-full:Level2OfFairValueHierarchyMember2021-12-310000842180ifrs-full:Level3OfFairValueHierarchyMemberifrs-full:FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember2021-12-310000842180ifrs-full:FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMemberbbva:EquityInstrumentsMemberifrs-full:Level1OfFairValueHierarchyMember2022-06-300000842180ifrs-full:FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMemberbbva:EquityInstrumentsMemberifrs-full:Level2OfFairValueHierarchyMember2022-06-300000842180ifrs-full:Level3OfFairValueHierarchyMemberifrs-full:FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMemberbbva:EquityInstrumentsMember2022-06-300000842180ifrs-full:FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMemberbbva:EquityInstrumentsMemberifrs-full:Level1OfFairValueHierarchyMember2021-12-310000842180ifrs-full:FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMemberbbva:EquityInstrumentsMemberifrs-full:Level2OfFairValueHierarchyMember2021-12-310000842180ifrs-full:Level3OfFairValueHierarchyMemberifrs-full:FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMemberbbva:EquityInstrumentsMember2021-12-310000842180ifrs-full:DebtSecuritiesMemberifrs-full:FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMemberifrs-full:Level1OfFairValueHierarchyMember2022-06-300000842180ifrs-full:DebtSecuritiesMemberifrs-full:FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMemberifrs-full:Level2OfFairValueHierarchyMember2022-06-300000842180ifrs-full:Level3OfFairValueHierarchyMemberifrs-full:DebtSecuritiesMemberifrs-full:FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember2022-06-300000842180ifrs-full:DebtSecuritiesMemberifrs-full:FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMemberifrs-full:Level1OfFairValueHierarchyMember2021-12-310000842180ifrs-full:DebtSecuritiesMemberifrs-full:FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMemberifrs-full:Level2OfFairValueHierarchyMember2021-12-310000842180ifrs-full:Level3OfFairValueHierarchyMemberifrs-full:DebtSecuritiesMemberifrs-full:FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember2021-12-310000842180bbva:LoansAndAdvancesMemberifrs-full:FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMemberifrs-full:Level1OfFairValueHierarchyMember2022-06-300000842180bbva:LoansAndAdvancesMemberifrs-full:FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMemberifrs-full:Level2OfFairValueHierarchyMember2022-06-300000842180bbva:LoansAndAdvancesMemberifrs-full:Level3OfFairValueHierarchyMemberifrs-full:FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember2022-06-300000842180bbva:LoansAndAdvancesMemberifrs-full:FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMemberifrs-full:Level1OfFairValueHierarchyMember2021-12-310000842180bbva:LoansAndAdvancesMemberifrs-full:FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMemberifrs-full:Level2OfFairValueHierarchyMember2021-12-310000842180bbva:LoansAndAdvancesMemberifrs-full:Level3OfFairValueHierarchyMemberifrs-full:FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember2021-12-310000842180ifrs-full:FinancialAssetsAtAmortisedCostCategoryMemberifrs-full:Level1OfFairValueHierarchyMember2022-06-300000842180ifrs-full:FinancialAssetsAtAmortisedCostCategoryMemberifrs-full:Level2OfFairValueHierarchyMember2022-06-300000842180ifrs-full:FinancialAssetsAtAmortisedCostCategoryMemberifrs-full:Level3OfFairValueHierarchyMember2022-06-300000842180ifrs-full:FinancialAssetsAtAmortisedCostCategoryMemberifrs-full:Level1OfFairValueHierarchyMember2021-12-310000842180ifrs-full:FinancialAssetsAtAmortisedCostCategoryMemberifrs-full:Level2OfFairValueHierarchyMember2021-12-310000842180ifrs-full:FinancialAssetsAtAmortisedCostCategoryMemberifrs-full:Level3OfFairValueHierarchyMember2021-12-310000842180ifrs-full:Level1OfFairValueHierarchyMemberbbva:DerivativesHedgeAccountingMember2022-06-300000842180bbva:DerivativesHedgeAccountingMemberifrs-full:Level2OfFairValueHierarchyMember2022-06-300000842180ifrs-full:Level3OfFairValueHierarchyMemberbbva:DerivativesHedgeAccountingMember2022-06-300000842180ifrs-full:Level1OfFairValueHierarchyMemberbbva:DerivativesHedgeAccountingMember2021-12-310000842180bbva:DerivativesHedgeAccountingMemberifrs-full:Level2OfFairValueHierarchyMember2021-12-310000842180ifrs-full:Level3OfFairValueHierarchyMemberbbva:DerivativesHedgeAccountingMember2021-12-310000842180bbva:FinancialLiabilitiesHeldForTradingMemberifrs-full:Level1OfFairValueHierarchyMember2022-06-300000842180bbva:FinancialLiabilitiesHeldForTradingMemberifrs-full:Level2OfFairValueHierarchyMember2022-06-300000842180bbva:FinancialLiabilitiesHeldForTradingMemberifrs-full:Level3OfFairValueHierarchyMember2022-06-300000842180bbva:FinancialLiabilitiesHeldForTradingMemberifrs-full:Level1OfFairValueHierarchyMember2021-12-310000842180bbva:FinancialLiabilitiesHeldForTradingMemberifrs-full:Level2OfFairValueHierarchyMember2021-12-310000842180bbva:FinancialLiabilitiesHeldForTradingMemberifrs-full:Level3OfFairValueHierarchyMember2021-12-310000842180bbva:FinancialLiabilitiesHeldForTradingMemberbbva:TradingDerivativesMemberifrs-full:Level1OfFairValueHierarchyMember2022-06-300000842180bbva:FinancialLiabilitiesHeldForTradingMemberbbva:TradingDerivativesMemberifrs-full:Level2OfFairValueHierarchyMember2022-06-300000842180bbva:FinancialLiabilitiesHeldForTradingMemberifrs-full:Level3OfFairValueHierarchyMemberbbva:TradingDerivativesMember2022-06-300000842180bbva:FinancialLiabilitiesHeldForTradingMemberbbva:TradingDerivativesMemberifrs-full:Level1OfFairValueHierarchyMember2021-12-310000842180bbva:FinancialLiabilitiesHeldForTradingMemberbbva:TradingDerivativesMemberifrs-full:Level2OfFairValueHierarchyMember2021-12-310000842180bbva:FinancialLiabilitiesHeldForTradingMemberifrs-full:Level3OfFairValueHierarchyMemberbbva:TradingDerivativesMember2021-12-310000842180bbva:FinancialLiabilitiesHeldForTradingMemberbbva:ShortPositionsMemberifrs-full:Level1OfFairValueHierarchyMember2022-06-300000842180bbva:FinancialLiabilitiesHeldForTradingMemberbbva:ShortPositionsMemberifrs-full:Level2OfFairValueHierarchyMember2022-06-300000842180bbva:FinancialLiabilitiesHeldForTradingMemberbbva:ShortPositionsMemberifrs-full:Level3OfFairValueHierarchyMember2022-06-300000842180bbva:FinancialLiabilitiesHeldForTradingMemberbbva:ShortPositionsMemberifrs-full:Level1OfFairValueHierarchyMember2021-12-310000842180bbva:FinancialLiabilitiesHeldForTradingMemberbbva:ShortPositionsMemberifrs-full:Level2OfFairValueHierarchyMember2021-12-310000842180bbva:FinancialLiabilitiesHeldForTradingMemberbbva:ShortPositionsMemberifrs-full:Level3OfFairValueHierarchyMember2021-12-310000842180bbva:FinancialLiabilitiesHeldForTradingMemberifrs-full:Level1OfFairValueHierarchyMemberbbva:DepositsMember2022-06-300000842180bbva:FinancialLiabilitiesHeldForTradingMemberbbva:DepositsMemberifrs-full:Level2OfFairValueHierarchyMember2022-06-300000842180bbva:FinancialLiabilitiesHeldForTradingMemberifrs-full:Level3OfFairValueHierarchyMemberbbva:DepositsMember2022-06-300000842180bbva:FinancialLiabilitiesHeldForTradingMemberifrs-full:Level1OfFairValueHierarchyMemberbbva:DepositsMember2021-12-310000842180bbva:FinancialLiabilitiesHeldForTradingMemberbbva:DepositsMemberifrs-full:Level2OfFairValueHierarchyMember2021-12-310000842180bbva:FinancialLiabilitiesHeldForTradingMemberifrs-full:Level3OfFairValueHierarchyMemberbbva:DepositsMember2021-12-310000842180ifrs-full:Level1OfFairValueHierarchyMemberifrs-full:FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember2022-06-300000842180ifrs-full:FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMemberifrs-full:Level2OfFairValueHierarchyMember2022-06-300000842180ifrs-full:Level3OfFairValueHierarchyMemberifrs-full:FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember2022-06-300000842180ifrs-full:Level1OfFairValueHierarchyMemberifrs-full:FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember2021-12-310000842180ifrs-full:FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMemberifrs-full:Level2OfFairValueHierarchyMember2021-12-310000842180ifrs-full:Level3OfFairValueHierarchyMemberifrs-full:FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember2021-12-310000842180ifrs-full:Level1OfFairValueHierarchyMemberifrs-full:FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMemberbbva:CustomerDepositsMember2022-06-300000842180ifrs-full:FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMemberbbva:CustomerDepositsMemberifrs-full:Level2OfFairValueHierarchyMember2022-06-300000842180ifrs-full:Level3OfFairValueHierarchyMemberifrs-full:FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMemberbbva:CustomerDepositsMember2022-06-300000842180ifrs-full:Level1OfFairValueHierarchyMemberifrs-full:FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMemberbbva:CustomerDepositsMember2021-12-310000842180ifrs-full:FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMemberbbva:CustomerDepositsMemberifrs-full:Level2OfFairValueHierarchyMember2021-12-310000842180ifrs-full:Level3OfFairValueHierarchyMemberifrs-full:FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMemberbbva:CustomerDepositsMember2021-12-310000842180bbva:DebtCertificatesMemberifrs-full:Level1OfFairValueHierarchyMemberifrs-full:FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember2022-06-300000842180bbva:DebtCertificatesMemberifrs-full:FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMemberifrs-full:Level2OfFairValueHierarchyMember2022-06-300000842180bbva:DebtCertificatesMemberifrs-full:Level3OfFairValueHierarchyMemberifrs-full:FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember2022-06-300000842180bbva:DebtCertificatesMemberifrs-full:Level1OfFairValueHierarchyMemberifrs-full:FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember2021-12-310000842180bbva:DebtCertificatesMemberifrs-full:FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMemberifrs-full:Level2OfFairValueHierarchyMember2021-12-310000842180bbva:DebtCertificatesMemberifrs-full:Level3OfFairValueHierarchyMemberifrs-full:FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember2021-12-310000842180bbva:OtherFinancialLiabilitiesMemberifrs-full:Level1OfFairValueHierarchyMemberifrs-full:FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember2022-06-300000842180bbva:OtherFinancialLiabilitiesMemberifrs-full:FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMemberifrs-full:Level2OfFairValueHierarchyMember2022-06-300000842180bbva:OtherFinancialLiabilitiesMemberifrs-full:Level3OfFairValueHierarchyMemberifrs-full:FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember2022-06-300000842180bbva:OtherFinancialLiabilitiesMemberifrs-full:Level1OfFairValueHierarchyMemberifrs-full:FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember2021-12-310000842180bbva:OtherFinancialLiabilitiesMemberifrs-full:FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMemberifrs-full:Level2OfFairValueHierarchyMember2021-12-310000842180bbva:OtherFinancialLiabilitiesMemberifrs-full:Level3OfFairValueHierarchyMemberifrs-full:FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember2021-12-310000842180ifrs-full:Level1OfFairValueHierarchyMemberifrs-full:FinancialLiabilitiesAtAmortisedCostCategoryMember2022-06-300000842180ifrs-full:FinancialLiabilitiesAtAmortisedCostCategoryMemberifrs-full:Level2OfFairValueHierarchyMember2022-06-300000842180ifrs-full:Level3OfFairValueHierarchyMemberifrs-full:FinancialLiabilitiesAtAmortisedCostCategoryMember2022-06-300000842180ifrs-full:Level1OfFairValueHierarchyMemberifrs-full:FinancialLiabilitiesAtAmortisedCostCategoryMember2021-12-310000842180ifrs-full:FinancialLiabilitiesAtAmortisedCostCategoryMemberifrs-full:Level2OfFairValueHierarchyMember2021-12-310000842180ifrs-full:Level3OfFairValueHierarchyMemberifrs-full:FinancialLiabilitiesAtAmortisedCostCategoryMember2021-12-310000842180bbva:IssuedByCentralBanksMember2022-06-300000842180bbva:IssuedByCentralBanksMember2021-12-310000842180bbva:IssuedByPublicAdministrationsMember2022-06-300000842180bbva:IssuedByPublicAdministrationsMember2021-12-310000842180bbva:IssuedByFinancialInstitutionsMember2022-06-300000842180bbva:IssuedByFinancialInstitutionsMember2021-12-310000842180bbva:OtherDebtInstrumentsMember2022-06-300000842180bbva:OtherDebtInstrumentsMember2021-12-310000842180bbva:LoansAndAdvancesToCentralBanksMember2022-06-300000842180bbva:LoansAndAdvancesToCentralBanksMember2021-12-310000842180bbva:LoansAndAdvancesToCentralBanksMemberbbva:ReverseRepurchaseAgreementsMember2022-06-300000842180bbva:LoansAndAdvancesToCentralBanksMemberbbva:ReverseRepurchaseAgreementsMember2021-12-310000842180bbva:LoansAndAdvancesToCreditInstitutionsMember2022-06-300000842180bbva:LoansAndAdvancesToCreditInstitutionsMember2021-12-310000842180bbva:LoansAndAdvancesToCreditInstitutionsMemberbbva:ReverseRepurchaseAgreementsMember2022-06-300000842180bbva:LoansAndAdvancesToCreditInstitutionsMemberbbva:ReverseRepurchaseAgreementsMember2021-12-310000842180bbva:LoansAndAdvancesToCustomersMember2022-06-300000842180bbva:LoansAndAdvancesToCustomersMember2021-12-310000842180bbva:LoansAndAdvancesToCustomersMemberbbva:ReverseRepurchaseAgreementsMember2022-06-300000842180bbva:LoansAndAdvancesToCustomersMemberbbva:ReverseRepurchaseAgreementsMember2021-12-310000842180bbva:DepositsFromCentralBanksMember2022-06-300000842180bbva:DepositsFromCentralBanksMember2021-12-310000842180bbva:RepurchaseAgreementMemberbbva:DepositsFromCentralBanksMember2022-06-300000842180bbva:RepurchaseAgreementMemberbbva:DepositsFromCentralBanksMember2021-12-310000842180bbva:DepositsFromCreditInstitutionsMember2022-06-300000842180bbva:DepositsFromCreditInstitutionsMember2021-12-310000842180bbva:RepurchaseAgreementMemberbbva:DepositsFromCreditInstitutionsMember2022-06-300000842180bbva:RepurchaseAgreementMemberbbva:DepositsFromCreditInstitutionsMember2021-12-310000842180bbva:CustomerDepositsMember2022-06-300000842180bbva:CustomerDepositsMember2021-12-310000842180bbva:RepurchaseAgreementMemberbbva:CustomerDepositsMember2022-06-300000842180bbva:RepurchaseAgreementMemberbbva:CustomerDepositsMember2021-12-310000842180bbva:NationalCompanySharesMemberbbva:SubtotalListedEquityInstrumentsMember2022-06-300000842180bbva:NationalCompanySharesMemberbbva:SubtotalListedEquityInstrumentsMember2021-12-310000842180bbva:SubtotalListedEquityInstrumentsMemberbbva:ForeignCompanySharesMember2022-06-300000842180bbva:SubtotalListedEquityInstrumentsMemberbbva:ForeignCompanySharesMember2021-12-310000842180bbva:SubtotalListedEquityInstrumentsMembercountry:US2022-06-300000842180bbva:SubtotalListedEquityInstrumentsMembercountry:US2021-12-310000842180bbva:SubtotalListedEquityInstrumentsMembercountry:MX2022-06-300000842180bbva:SubtotalListedEquityInstrumentsMembercountry:MX2021-12-310000842180country:TRbbva:SubtotalListedEquityInstrumentsMember2022-06-300000842180country:TRbbva:SubtotalListedEquityInstrumentsMember2021-12-310000842180bbva:OtherCountriesMemberbbva:SubtotalListedEquityInstrumentsMember2022-06-300000842180bbva:OtherCountriesMemberbbva:SubtotalListedEquityInstrumentsMember2021-12-310000842180bbva:SubtotalListedEquityInstrumentsMember2022-06-300000842180bbva:SubtotalListedEquityInstrumentsMember2021-12-310000842180bbva:NationalCompanySharesMemberbbva:SubtotalUnlistedEquityInstrumentsMember2022-06-300000842180bbva:NationalCompanySharesMemberbbva:SubtotalUnlistedEquityInstrumentsMember2021-12-310000842180bbva:ForeignCompanySharesMemberbbva:SubtotalUnlistedEquityInstrumentsMember2022-06-300000842180bbva:ForeignCompanySharesMemberbbva:SubtotalUnlistedEquityInstrumentsMember2021-12-310000842180country:MXbbva:SubtotalUnlistedEquityInstrumentsMember2022-06-300000842180country:MXbbva:SubtotalUnlistedEquityInstrumentsMember2021-12-310000842180country:TRbbva:SubtotalUnlistedEquityInstrumentsMember2022-06-300000842180country:TRbbva:SubtotalUnlistedEquityInstrumentsMember2021-12-310000842180bbva:OtherCountriesMemberbbva:SubtotalUnlistedEquityInstrumentsMember2022-06-300000842180bbva:OtherCountriesMemberbbva:SubtotalUnlistedEquityInstrumentsMember2021-12-310000842180bbva:SubtotalUnlistedEquityInstrumentsMember2022-06-300000842180bbva:SubtotalUnlistedEquityInstrumentsMember2021-12-310000842180bbva:GovernmentAgencyDebtSecuritiesMemberbbva:IssuedInEurosMember2022-06-300000842180bbva:GovernmentAgencyDebtSecuritiesMemberbbva:IssuedInEurosMember2021-12-310000842180bbva:CentralBanksMemberbbva:IssuedInEurosMember2022-06-300000842180bbva:CentralBanksMemberbbva:IssuedInEurosMember2021-12-310000842180bbva:CreditInstitutionsMemberbbva:IssuedInEurosMember2022-06-300000842180bbva:CreditInstitutionsMemberbbva:IssuedInEurosMember2021-12-310000842180bbva:OtherIssuersMemberbbva:IssuedInEurosMember2022-06-300000842180bbva:OtherIssuersMemberbbva:IssuedInEurosMember2021-12-310000842180bbva:IssuedInEurosMember2022-06-300000842180bbva:IssuedInEurosMember2021-12-310000842180country:MX2022-06-300000842180country:MX2021-12-310000842180country:MXbbva:GovernmentAgencyDebtSecuritiesMember2022-06-300000842180country:MXbbva:GovernmentAgencyDebtSecuritiesMember2021-12-310000842180bbva:CentralBanksMembercountry:MX2022-06-300000842180bbva:CentralBanksMembercountry:MX2021-12-310000842180bbva:CreditInstitutionsMembercountry:MX2022-06-300000842180bbva:CreditInstitutionsMembercountry:MX2021-12-310000842180country:MXbbva:OtherIssuersMember2022-06-300000842180country:MXbbva:OtherIssuersMember2021-12-310000842180country:IT2022-06-300000842180country:IT2021-12-310000842180country:ITbbva:GovernmentAgencyDebtSecuritiesMember2022-06-300000842180country:ITbbva:GovernmentAgencyDebtSecuritiesMember2021-12-310000842180bbva:CentralBanksMembercountry:IT2022-06-300000842180bbva:CentralBanksMembercountry:IT2021-12-310000842180country:ITbbva:CreditInstitutionsMember2022-06-300000842180country:ITbbva:CreditInstitutionsMember2021-12-310000842180country:ITbbva:OtherIssuersMember2022-06-300000842180country:ITbbva:OtherIssuersMember2021-12-310000842180country:JP2022-06-300000842180country:JP2021-12-310000842180bbva:GovernmentAgencyDebtSecuritiesMembercountry:JP2022-06-300000842180bbva:GovernmentAgencyDebtSecuritiesMembercountry:JP2021-12-310000842180bbva:CentralBanksMembercountry:JP2022-06-300000842180bbva:CentralBanksMembercountry:JP2021-12-310000842180bbva:CreditInstitutionsMembercountry:JP2022-06-300000842180bbva:CreditInstitutionsMembercountry:JP2021-12-310000842180bbva:OtherIssuersMembercountry:JP2022-06-300000842180bbva:OtherIssuersMembercountry:JP2021-12-310000842180country:US2022-06-300000842180country:US2021-12-310000842180country:USbbva:GovernmentAgencyDebtSecuritiesMember2022-06-300000842180country:USbbva:GovernmentAgencyDebtSecuritiesMember2021-12-310000842180bbva:CentralBanksMembercountry:US2022-06-300000842180bbva:CentralBanksMembercountry:US2021-12-310000842180bbva:CreditInstitutionsMembercountry:US2022-06-300000842180bbva:CreditInstitutionsMembercountry:US2021-12-310000842180bbva:OtherIssuersMembercountry:US2022-06-300000842180bbva:OtherIssuersMembercountry:US2021-12-310000842180country:TR2022-06-300000842180country:TR2021-12-310000842180country:TRbbva:GovernmentAgencyDebtSecuritiesMember2022-06-300000842180country:TRbbva:GovernmentAgencyDebtSecuritiesMember2021-12-310000842180bbva:CentralBanksMembercountry:TR2022-06-300000842180bbva:CentralBanksMembercountry:TR2021-12-310000842180country:TRbbva:CreditInstitutionsMember2022-06-300000842180country:TRbbva:CreditInstitutionsMember2021-12-310000842180country:TRbbva:OtherIssuersMember2022-06-300000842180country:TRbbva:OtherIssuersMember2021-12-310000842180bbva:OtherCountriesMember2022-06-300000842180bbva:OtherCountriesMember2021-12-310000842180bbva:OtherCountriesMemberbbva:GovernmentAgencyDebtSecuritiesMember2022-06-300000842180bbva:OtherCountriesMemberbbva:GovernmentAgencyDebtSecuritiesMember2021-12-310000842180bbva:CentralBanksMemberbbva:OtherCountriesMember2022-06-300000842180bbva:CentralBanksMemberbbva:OtherCountriesMember2021-12-310000842180bbva:OtherCountriesMemberbbva:CreditInstitutionsMember2022-06-300000842180bbva:OtherCountriesMemberbbva:CreditInstitutionsMember2021-12-310000842180bbva:OtherCountriesMemberbbva:OtherIssuersMember2022-06-300000842180bbva:OtherCountriesMemberbbva:OtherIssuersMember2021-12-310000842180bbva:TotalForeignMember2022-06-300000842180bbva:TotalForeignMember2021-12-310000842180bbva:BBVAAAARatingMember2022-06-300000842180bbva:BBVAAAARatingMember2021-12-310000842180bbva:BBVAAAPlusRatingMember2022-06-300000842180bbva:BBVAAAPlusRatingMember2021-12-310000842180bbva:BBVAAARatingMember2022-06-300000842180bbva:BBVAAARatingMember2021-12-310000842180bbva:BBVAAAMinusRatingMember2022-06-300000842180bbva:BBVAAAMinusRatingMember2021-12-310000842180bbva:BBVAAPlusRatingMember2022-06-300000842180bbva:BBVAAPlusRatingMember2021-12-310000842180bbva:BBVAARatingMember2022-06-300000842180bbva:BBVAARatingMember2021-12-310000842180bbva:BBVAAMinusRatingMember2022-06-300000842180bbva:BBVAAMinusRatingMember2021-12-310000842180bbva:BBVABBBPlusRatingMember2022-06-300000842180bbva:BBVABBBPlusRatingMember2021-12-310000842180bbva:BBVABBBRatingMember2022-06-300000842180bbva:BBVABBBRatingMember2021-12-310000842180bbva:BBVABBBMinusRatingMember2022-06-300000842180bbva:BBVABBBMinusRatingMember2021-12-310000842180bbva:BBVABBPlusOrBelowRatingMember2022-06-300000842180bbva:BBVABBPlusOrBelowRatingMember2021-12-310000842180bbva:UnclassifiedMember2022-06-300000842180bbva:UnclassifiedMember2021-12-310000842180ifrs-full:DebtSecuritiesMember2021-12-310000842180ifrs-full:DebtSecuritiesMember2020-12-310000842180bbva:EquityInstrumentsMember2021-12-310000842180bbva:EquityInstrumentsMember2020-12-310000842180ifrs-full:DebtSecuritiesMember2022-01-012022-06-300000842180ifrs-full:DebtSecuritiesMember2021-01-012021-12-310000842180bbva:EquityInstrumentsMember2022-01-012022-06-300000842180bbva:EquityInstrumentsMember2021-01-012021-12-310000842180ifrs-full:DebtSecuritiesMember2022-06-300000842180bbva:EquityInstrumentsMember2022-06-300000842180ifrs-full:GovernmentMember2022-06-300000842180ifrs-full:GovernmentMember2021-12-310000842180bbva:OtherFinancialCorporationsMember2022-06-300000842180bbva:OtherFinancialCorporationsMember2021-12-310000842180bbva:NonFinancialCorporationsMember2022-06-300000842180bbva:NonFinancialCorporationsMember2021-12-310000842180bbva:OtherMember2022-06-300000842180bbva:OtherMember2021-12-310000842180bbva:OfWhichImpairedAssetsOfLoansAndAdvancesToCustomersMember2022-06-300000842180bbva:OfWhichImpairedAssetsOfLoansAndAdvancesToCustomersMember2021-12-310000842180bbva:OfWhichLossAllowancesOfLoansAndAdvancesMember2022-06-300000842180bbva:OfWhichLossAllowancesOfLoansAndAdvancesMember2021-12-310000842180bbva:OfWhichLossAllowancesOfDebtSecuritiesMember2022-06-300000842180bbva:OfWhichLossAllowancesOfDebtSecuritiesMember2021-12-310000842180ifrs-full:OnDemandMember2022-06-300000842180ifrs-full:OnDemandMember2021-12-310000842180bbva:CreditCardDebtMember2022-06-300000842180bbva:CreditCardDebtMember2021-12-310000842180ifrs-full:TradeReceivablesMember2022-06-300000842180ifrs-full:TradeReceivablesMember2021-12-310000842180ifrs-full:LeaseReceivablesMember2022-06-300000842180ifrs-full:LeaseReceivablesMember2021-12-310000842180bbva:ReverseRepurchaseAgreementsMember2022-06-300000842180bbva:ReverseRepurchaseAgreementsMember2021-12-310000842180bbva:OtherTermLoansMember2022-06-300000842180bbva:OtherTermLoansMember2021-12-310000842180bbva:AdvancesThatAreNotLoansMember2022-06-300000842180bbva:AdvancesThatAreNotLoansMember2021-12-310000842180ifrs-full:LandAndBuildingsMember2022-06-300000842180ifrs-full:LandAndBuildingsMember2021-12-310000842180ifrs-full:ConstructionInProgressMember2022-06-300000842180ifrs-full:ConstructionInProgressMember2021-12-310000842180sic:Z25902022-06-300000842180sic:Z25902021-12-310000842180ifrs-full:RightofuseAssetsMember2022-06-300000842180ifrs-full:RightofuseAssetsMember2021-12-310000842180ifrs-full:AccumulatedDepreciationAndAmortisationMember2022-06-300000842180ifrs-full:AccumulatedDepreciationAndAmortisationMember2021-12-310000842180ifrs-full:AccumulatedImpairmentMember2022-06-300000842180ifrs-full:AccumulatedImpairmentMember2021-12-310000842180bbva:TangibleAssetsLeasedOutUnderAnOperatingLeaseMember2022-06-300000842180bbva:TangibleAssetsLeasedOutUnderAnOperatingLeaseMember2021-12-310000842180bbva:BuildingRentalMember2022-06-300000842180bbva:BuildingRentalMember2021-12-310000842180bbva:OtherMember2022-06-300000842180bbva:OtherMember2021-12-310000842180country:MX2020-12-310000842180country:TR2020-12-310000842180country:CO2020-12-310000842180country:CL2020-12-310000842180bbva:OtherCountriesMember2020-12-310000842180country:MX2021-01-012021-12-310000842180country:TR2021-01-012021-12-310000842180country:CO2021-01-012021-12-310000842180country:CL2021-01-012021-12-310000842180bbva:OtherCountriesMember2021-01-012021-12-310000842180country:MX2021-12-310000842180country:TR2021-12-310000842180country:CO2021-12-310000842180country:CL2021-12-310000842180bbva:OtherCountriesMember2021-12-310000842180country:MX2022-01-012022-06-300000842180country:TR2022-01-012022-06-300000842180country:CO2022-01-012022-06-300000842180country:CL2022-01-012022-06-300000842180bbva:OtherCountriesMember2022-01-012022-06-300000842180country:MX2022-06-300000842180country:TR2022-06-300000842180country:CO2022-06-300000842180country:CL2022-06-300000842180bbva:OtherCountriesMember2022-06-300000842180ifrs-full:ComputerSoftwareMember2022-06-300000842180ifrs-full:ComputerSoftwareMember2021-12-310000842180ifrs-full:IntangibleAssetsWithIndefiniteUsefulLifeMember2022-06-300000842180ifrs-full:IntangibleAssetsWithIndefiniteUsefulLifeMember2021-12-310000842180bbva:IntangibleAssetsWithDefiniteUsefulLifeMember2022-06-300000842180bbva:IntangibleAssetsWithDefiniteUsefulLifeMember2021-12-310000842180bbva:ForeclosuresAndRecoveriesMember2022-06-300000842180bbva:ForeclosuresAndRecoveriesMember2021-12-310000842180bbva:OtherAssetsFromTangibleAssetsMember2022-06-300000842180bbva:OtherAssetsFromTangibleAssetsMember2021-12-310000842180bbva:CompaniesHeldForSaleMember2022-06-300000842180bbva:CompaniesHeldForSaleMember2021-12-310000842180bbva:OtherAssetsClassifiedAsHeldForSaleMember2022-06-300000842180bbva:OtherAssetsClassifiedAsHeldForSaleMember2021-12-310000842180bbva:AccruedAmortizationMember2022-06-300000842180bbva:AccruedAmortizationMember2021-12-310000842180bbva:ImpairmentLossesMember2022-06-300000842180bbva:ImpairmentLossesMember2021-12-310000842180bbva:SoldUSASubsidiaryMember2021-01-012021-06-300000842180bbva:DemandDepositsMember2022-06-300000842180bbva:DemandDepositsMember2021-12-310000842180bbva:TimeDepostisAndOtherMember2022-06-300000842180bbva:TimeDepostisAndOtherMember2021-12-310000842180bbva:RepurchaseAgreementsMember2022-06-300000842180bbva:RepurchaseAgreementsMember2021-12-310000842180bbva:DemandDepositsMembercountry:ES2022-06-300000842180bbva:TimeDepositsAndOtherMembercountry:ES2022-06-300000842180country:ESbbva:RepurchaseAgreementsMember2022-06-300000842180country:ES2022-06-300000842180bbva:DemandDepositsMembercountry:MX2022-06-300000842180country:MXbbva:TimeDepositsAndOtherMember2022-06-300000842180country:MXbbva:RepurchaseAgreementsMember2022-06-300000842180country:MX2022-06-300000842180bbva:DemandDepositsMembercountry:TR2022-06-300000842180country:TRbbva:TimeDepositsAndOtherMember2022-06-300000842180country:TRbbva:RepurchaseAgreementsMember2022-06-300000842180country:TR2022-06-300000842180bbva:DemandDepositsMembersrt:SouthAmericaMember2022-06-300000842180bbva:TimeDepositsAndOtherMembersrt:SouthAmericaMember2022-06-300000842180srt:SouthAmericaMemberbbva:RepurchaseAgreementsMember2022-06-300000842180srt:SouthAmericaMember2022-06-300000842180bbva:DemandDepositsMembersrt:EuropeMember2022-06-300000842180srt:EuropeMemberbbva:TimeDepositsAndOtherMember2022-06-300000842180srt:EuropeMemberbbva:RepurchaseAgreementsMember2022-06-300000842180srt:EuropeMember2022-06-300000842180bbva:DemandDepositsMemberbbva:RestOfTheWorldMember2022-06-300000842180bbva:RestOfTheWorldMemberbbva:TimeDepositsAndOtherMember2022-06-300000842180bbva:RestOfTheWorldMemberbbva:RepurchaseAgreementsMember2022-06-300000842180bbva:RestOfTheWorldMember2022-06-300000842180bbva:DemandDepositsMember2022-06-300000842180bbva:TimeDepositsAndOtherMember2022-06-300000842180bbva:RepurchaseAgreementsMember2022-06-300000842180bbva:DemandDepositsMembercountry:ES2021-12-310000842180bbva:TimeDepositsAndOtherMembercountry:ES2021-12-310000842180country:ESbbva:RepurchaseAgreementsMember2021-12-310000842180country:ES2021-12-310000842180bbva:DemandDepositsMembercountry:MX2021-12-310000842180country:MXbbva:TimeDepositsAndOtherMember2021-12-310000842180country:MXbbva:RepurchaseAgreementsMember2021-12-310000842180country:MX2021-12-310000842180bbva:DemandDepositsMembercountry:TR2021-12-310000842180country:TRbbva:TimeDepositsAndOtherMember2021-12-310000842180country:TRbbva:RepurchaseAgreementsMember2021-12-310000842180country:TR2021-12-310000842180bbva:DemandDepositsMembersrt:SouthAmericaMember2021-12-310000842180bbva:TimeDepositsAndOtherMembersrt:SouthAmericaMember2021-12-310000842180srt:SouthAmericaMemberbbva:RepurchaseAgreementsMember2021-12-310000842180srt:SouthAmericaMember2021-12-310000842180bbva:DemandDepositsMembersrt:EuropeMember2021-12-310000842180srt:EuropeMemberbbva:TimeDepositsAndOtherMember2021-12-310000842180srt:EuropeMemberbbva:RepurchaseAgreementsMember2021-12-310000842180srt:EuropeMember2021-12-310000842180bbva:DemandDepositsMemberbbva:RestOfTheWorldMember2021-12-310000842180bbva:RestOfTheWorldMemberbbva:TimeDepositsAndOtherMember2021-12-310000842180bbva:RestOfTheWorldMemberbbva:RepurchaseAgreementsMember2021-12-310000842180bbva:RestOfTheWorldMember2021-12-310000842180bbva:DemandDepositsMember2021-12-310000842180bbva:TimeDepositsAndOtherMember2021-12-310000842180bbva:RepurchaseAgreementsMember2021-12-310000842180bbva:DemandDepositsMembercountry:ES2022-06-300000842180bbva:TimeDepositsAndOtherMembercountry:ES2022-06-300000842180bbva:RepurchaseAgreementsMembercountry:ES2022-06-300000842180country:ES2022-06-300000842180country:MXbbva:DemandDepositsMember2022-06-300000842180country:MXbbva:TimeDepositsAndOtherMember2022-06-300000842180country:MXbbva:RepurchaseAgreementsMember2022-06-300000842180country:MX2022-06-300000842180country:TRbbva:DemandDepositsMember2022-06-300000842180bbva:TimeDepositsAndOtherMembercountry:TR2022-06-300000842180bbva:RepurchaseAgreementsMembercountry:TR2022-06-300000842180country:TR2022-06-300000842180srt:SouthAmericaMemberbbva:DemandDepositsMember2022-06-300000842180srt:SouthAmericaMemberbbva:TimeDepositsAndOtherMember2022-06-300000842180srt:SouthAmericaMemberbbva:RepurchaseAgreementsMember2022-06-300000842180srt:SouthAmericaMember2022-06-300000842180srt:EuropeMemberbbva:DemandDepositsMember2022-06-300000842180srt:EuropeMemberbbva:TimeDepositsAndOtherMember2022-06-300000842180srt:EuropeMemberbbva:RepurchaseAgreementsMember2022-06-300000842180srt:EuropeMember2022-06-300000842180bbva:RestOfTheWorldMemberbbva:DemandDepositsMember2022-06-300000842180bbva:TimeDepositsAndOtherMemberbbva:RestOfTheWorldMember2022-06-300000842180bbva:RepurchaseAgreementsMemberbbva:RestOfTheWorldMember2022-06-300000842180bbva:RestOfTheWorldMember2022-06-300000842180bbva:DemandDepositsMember2022-06-300000842180bbva:TimeDepositsAndOtherMember2022-06-300000842180bbva:RepurchaseAgreementsMember2022-06-300000842180bbva:DemandDepositsMembercountry:ES2021-12-310000842180bbva:TimeDepositsAndOtherMembercountry:ES2021-12-310000842180bbva:RepurchaseAgreementsMembercountry:ES2021-12-310000842180country:ES2021-12-310000842180country:MXbbva:DemandDepositsMember2021-12-310000842180country:MXbbva:TimeDepositsAndOtherMember2021-12-310000842180country:MXbbva:RepurchaseAgreementsMember2021-12-310000842180country:MX2021-12-310000842180country:TRbbva:DemandDepositsMember2021-12-310000842180bbva:TimeDepositsAndOtherMembercountry:TR2021-12-310000842180bbva:RepurchaseAgreementsMembercountry:TR2021-12-310000842180country:TR2021-12-310000842180srt:SouthAmericaMemberbbva:DemandDepositsMember2021-12-310000842180srt:SouthAmericaMemberbbva:TimeDepositsAndOtherMember2021-12-310000842180srt:SouthAmericaMemberbbva:RepurchaseAgreementsMember2021-12-310000842180srt:SouthAmericaMember2021-12-310000842180srt:EuropeMemberbbva:DemandDepositsMember2021-12-310000842180srt:EuropeMemberbbva:TimeDepositsAndOtherMember2021-12-310000842180srt:EuropeMemberbbva:RepurchaseAgreementsMember2021-12-310000842180srt:EuropeMember2021-12-310000842180bbva:RestOfTheWorldMemberbbva:DemandDepositsMember2021-12-310000842180bbva:TimeDepositsAndOtherMemberbbva:RestOfTheWorldMember2021-12-310000842180bbva:RepurchaseAgreementsMemberbbva:RestOfTheWorldMember2021-12-310000842180bbva:RestOfTheWorldMember2021-12-310000842180bbva:DemandDepositsMember2021-12-310000842180bbva:TimeDepositsAndOtherMember2021-12-310000842180bbva:RepurchaseAgreementsMember2021-12-310000842180bbva:IssuedInEurosMember2022-06-300000842180bbva:IssuedInEurosMember2021-12-310000842180bbva:IssuedInEurosMemberbbva:PromissoryBillsAndNotesMember2022-06-300000842180bbva:IssuedInEurosMemberbbva:PromissoryBillsAndNotesMember2021-12-310000842180bbva:IssuedInEurosMemberbbva:NonConvertibleBondsAndDebenturesMember2022-06-300000842180bbva:IssuedInEurosMemberbbva:NonConvertibleBondsAndDebenturesMember2021-12-310000842180bbva:IssuedInEurosMemberbbva:CoveredBonsMember2022-06-300000842180bbva:IssuedInEurosMemberbbva:CoveredBonsMember2021-12-310000842180bbva:IssuedInEurosMemberbbva:HybridFinancialInstrumentsMember2022-06-300000842180bbva:IssuedInEurosMemberbbva:HybridFinancialInstrumentsMember2021-12-310000842180bbva:SecurilizationBondsMemberbbva:IssuedInEurosMember2022-06-300000842180bbva:SecurilizationBondsMemberbbva:IssuedInEurosMember2021-12-310000842180bbva:IssuedInEurosMemberbbva:WholesaleFundingMember2022-06-300000842180bbva:IssuedInEurosMemberbbva:WholesaleFundingMember2021-12-310000842180bbva:SubordinatedLiabilitiesMemberbbva:IssuedInEurosMember2022-06-300000842180bbva:SubordinatedLiabilitiesMemberbbva:IssuedInEurosMember2021-12-310000842180bbva:IssuedInEurosMemberbbva:ConvertiblePerpetualCertificatesMember2022-06-300000842180bbva:IssuedInEurosMemberbbva:ConvertiblePerpetualCertificatesMember2021-12-310000842180bbva:IssuedInEurosMemberbbva:OtherNonConvertibleSubordinatedLiabilitiesMember2022-06-300000842180bbva:IssuedInEurosMemberbbva:OtherNonConvertibleSubordinatedLiabilitiesMember2021-12-310000842180bbva:IssuedInForeignCurrencyMember2022-06-300000842180bbva:IssuedInForeignCurrencyMember2021-12-310000842180bbva:IssuedInForeignCurrencyMemberbbva:PromissoryBillsAndNotesMember2022-06-300000842180bbva:IssuedInForeignCurrencyMemberbbva:PromissoryBillsAndNotesMember2021-12-310000842180bbva:IssuedInForeignCurrencyMemberbbva:NonConvertibleBondsAndDebenturesMember2022-06-300000842180bbva:IssuedInForeignCurrencyMemberbbva:NonConvertibleBondsAndDebenturesMember2021-12-310000842180bbva:IssuedInForeignCurrencyMemberbbva:CoveredBonsMember2022-06-300000842180bbva:IssuedInForeignCurrencyMemberbbva:CoveredBonsMember2021-12-310000842180bbva:IssuedInForeignCurrencyMemberbbva:HybridFinancialInstrumentsMember2022-06-300000842180bbva:IssuedInForeignCurrencyMemberbbva:HybridFinancialInstrumentsMember2021-12-310000842180bbva:SecurilizationBondsMemberbbva:IssuedInForeignCurrencyMember2022-06-300000842180bbva:SecurilizationBondsMemberbbva:IssuedInForeignCurrencyMember2021-12-310000842180bbva:IssuedInForeignCurrencyMemberbbva:WholesaleFundingMember2022-06-300000842180bbva:IssuedInForeignCurrencyMemberbbva:WholesaleFundingMember2021-12-310000842180bbva:IssuedInForeignCurrencyMemberbbva:SubordinatedLiabilitiesMember2022-06-300000842180bbva:IssuedInForeignCurrencyMemberbbva:SubordinatedLiabilitiesMember2021-12-310000842180bbva:IssuedInForeignCurrencyMemberbbva:ConvertiblePerpetualCertificatesMember2022-06-300000842180bbva:IssuedInForeignCurrencyMemberbbva:ConvertiblePerpetualCertificatesMember2021-12-310000842180bbva:IssuedInForeignCurrencyMemberbbva:OtherNonConvertibleSubordinatedLiabilitiesMember2022-06-300000842180bbva:IssuedInForeignCurrencyMemberbbva:OtherNonConvertibleSubordinatedLiabilitiesMember2021-12-310000842180ifrs-full:LeaseLiabilitiesMember2022-06-300000842180ifrs-full:LeaseLiabilitiesMember2021-12-310000842180bbva:CreditorsForOtherFinancialLiabilitiesMember2022-06-300000842180bbva:CreditorsForOtherFinancialLiabilitiesMember2021-12-310000842180bbva:CollectionAccountsMember2022-06-300000842180bbva:CollectionAccountsMember2021-12-310000842180bbva:CreditorsForOtherPaymentObligationsMember2022-06-300000842180bbva:CreditorsForOtherPaymentObligationsMember2021-12-310000842180bbva:MathematicalReservesMember2022-06-300000842180bbva:MathematicalReservesMember2021-12-310000842180bbva:ProvisionForUnpaidClaimsReportedMember2022-06-300000842180bbva:ProvisionForUnpaidClaimsReportedMember2021-12-310000842180bbva:ProvisionsForUnexpiredRisksAndOtherProvisionsMember2022-06-300000842180bbva:ProvisionsForUnexpiredRisksAndOtherProvisionsMember2021-12-310000842180currency:MXN2022-01-012022-06-300000842180currency:MXN2021-01-012021-12-310000842180currency:TRY2022-01-012022-06-300000842180currency:TRY2021-01-012021-12-310000842180bbva:OtherExchangesMember2022-01-012022-06-300000842180bbva:OtherExchangesMember2021-01-012021-12-310000842180currency:ARS2022-01-012022-06-300000842180currency:ARS2021-01-012021-12-310000842180bbva:VenezuelaBolivarMember2022-01-012022-06-300000842180bbva:VenezuelaBolivarMember2021-01-012021-12-310000842180bbva:BBVAGarantiMember2022-06-300000842180bbva:BBVAGarantiMember2021-12-310000842180bbva:PeruBBVAMember2022-06-300000842180bbva:PeruBBVAMember2021-12-310000842180bbva:ArgentinaBBVAMember2022-06-300000842180bbva:ArgentinaBBVAMember2021-12-310000842180bbva:ColombiaBBVAMember2022-06-300000842180bbva:ColombiaBBVAMember2021-12-310000842180bbva:VenezuelaBBVAMember2022-06-300000842180bbva:VenezuelaBBVAMember2021-12-310000842180bbva:OtherEntitiesBBVAMember2022-06-300000842180bbva:OtherEntitiesBBVAMember2021-12-310000842180bbva:BBVAGarantiMember2022-01-012022-06-300000842180bbva:BBVAGarantiMember2021-01-012021-06-300000842180bbva:PeruBBVAMember2022-01-012022-06-300000842180bbva:PeruBBVAMember2021-01-012021-06-300000842180bbva:ArgentinaBBVAMember2022-01-012022-06-300000842180bbva:ArgentinaBBVAMember2021-01-012021-06-300000842180bbva:ColombiaBBVAMember2022-01-012022-06-300000842180bbva:ColombiaBBVAMember2021-01-012021-06-300000842180bbva:VenezuelaBBVAMember2022-01-012022-06-300000842180bbva:VenezuelaBBVAMember2021-01-012021-06-300000842180bbva:OtherEntitiesBBVAMember2022-01-012022-06-300000842180bbva:OtherEntitiesBBVAMember2021-01-012021-06-300000842180bbva:OfWhichImpairedMember2022-06-300000842180bbva:OfWhichImpairedMember2021-12-310000842180bbva:CentralBanksMember2022-06-300000842180bbva:CentralBanksMember2021-12-310000842180ifrs-full:GovernmentMember2022-06-300000842180ifrs-full:GovernmentMember2021-12-310000842180bbva:BanksMember2022-06-300000842180bbva:BanksMember2021-12-310000842180bbva:OtherFinancialCorporationsMember2022-06-300000842180bbva:OtherFinancialCorporationsMember2021-12-310000842180bbva:NonFinancialCorporationsMember2022-06-300000842180bbva:NonFinancialCorporationsMember2021-12-310000842180bbva:HouseholdsMember2022-06-300000842180bbva:HouseholdsMember2021-12-310000842180ifrs-full:FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember2022-01-012022-06-300000842180ifrs-full:FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember2021-01-012021-06-300000842180ifrs-full:FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember2022-01-012022-06-300000842180ifrs-full:FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember2021-01-012021-06-300000842180ifrs-full:FinancialAssetsAtAmortisedCostCategoryMember2022-01-012022-06-300000842180ifrs-full:FinancialAssetsAtAmortisedCostCategoryMember2021-01-012021-06-300000842180bbva:OtherFinancialAssetsAndLiabilitiesMember2022-01-012022-06-300000842180bbva:OtherFinancialAssetsAndLiabilitiesMember2021-01-012021-06-300000842180bbva:ReclassificationOfFinancialAssetsFromFairValueThroughOtherComprehensiveIncomeMember2022-01-012022-06-300000842180bbva:ReclassificationOfFinancialAssetsFromFairValueThroughOtherComprehensiveIncomeMember2021-01-012021-06-300000842180bbva:ReclassificationOfFinancialAssetsFromAmortizedCostMember2022-01-012022-06-300000842180bbva:ReclassificationOfFinancialAssetsFromAmortizedCostMember2021-01-012021-06-300000842180bbva:OtherGainsLossesMember2022-01-012022-06-300000842180bbva:OtherGainsLossesMember2021-01-012021-06-300000842180ifrs-full:DebtSecuritiesMember2022-01-012022-06-300000842180ifrs-full:DebtSecuritiesMember2021-01-012021-06-300000842180ifrs-full:EquityInvestmentsMember2022-01-012022-06-300000842180ifrs-full:EquityInvestmentsMember2021-01-012021-06-300000842180ifrs-full:DerivativesMember2022-01-012022-06-300000842180ifrs-full:DerivativesMember2021-01-012021-06-300000842180bbva:LoansAndAdvancesToCustomersMember2022-01-012022-06-300000842180bbva:LoansAndAdvancesToCustomersMember2021-01-012021-06-300000842180bbva:CustomerDepositsMember2022-01-012022-06-300000842180bbva:CustomerDepositsMember2021-01-012021-06-300000842180bbva:OtherMember2022-01-012022-06-300000842180bbva:OtherMember2021-01-012021-06-300000842180bbva:TangibleAssetsMember2022-01-012022-06-300000842180bbva:TangibleAssetsMember2021-01-012021-06-300000842180bbva:ForOwnUseDepreciableAssetsMember2022-01-012022-06-300000842180bbva:ForOwnUseDepreciableAssetsMember2021-01-012021-06-300000842180ifrs-full:RightofuseAssetsMember2022-01-012022-06-300000842180ifrs-full:RightofuseAssetsMember2021-01-012021-06-300000842180ifrs-full:InvestmentPropertyMember2022-01-012022-06-300000842180ifrs-full:InvestmentPropertyMember2021-01-012021-06-300000842180bbva:IntangibleAssetsMember2022-01-012022-06-300000842180bbva:IntangibleAssetsMember2021-01-012021-06-300000842180ifrs-full:ClassesOfAssetsMember2022-06-300000842180ifrs-full:ClassesOfAssetsMember2021-12-310000842180ifrs-full:LiabilitiesMember2022-06-300000842180ifrs-full:LiabilitiesMember2021-12-310000842180bbva:MemorandumAccountsMember2022-06-300000842180bbva:MemorandumAccountsMember2021-12-310000842180srt:DirectorMember2022-06-300000842180ifrs-full:RelatedPartiesMember2022-06-300000842180bbva:SeniorManagementMember2022-06-300000842180bbva:RelatedPartiesOfSeniorManagementMember2022-06-300000842180srt:DirectorMember2021-12-310000842180ifrs-full:RelatedPartiesMember2021-12-310000842180bbva:SeniorManagementMember2021-12-310000842180bbva:RelatedPartiesOfSeniorManagementMember2021-12-310000842180bbva:JosMiguelAndrsTorrecillasMembersrt:BoardOfDirectorsChairmanMember2022-01-012022-06-300000842180bbva:JosMiguelAndrsTorrecillasMemberbbva:ExecutieveCommitteeMember2022-01-012022-06-300000842180bbva:JosMiguelAndrsTorrecillasMemberbbva:AuditAndComplianceCommitteeMember2022-01-012022-06-300000842180bbva:RiskCommitteeMemberbbva:JosMiguelAndrsTorrecillasMember2022-01-012022-06-300000842180bbva:JosMiguelAndrsTorrecillasMemberbbva:RemunerationCommitteeMember2022-01-012022-06-300000842180bbva:JosMiguelAndrsTorrecillasMemberbbva:AppointmentsCommitteeMember2022-01-012022-06-300000842180bbva:JosMiguelAndrsTorrecillasMemberbbva:TechnologyAndCybersecurityCommitteeMember2022-01-012022-06-300000842180bbva:JosMiguelAndrsTorrecillasMemberbbva:OtherPositionsMember2022-01-012022-06-300000842180bbva:JosMiguelAndrsTorrecillasMember2022-01-012022-06-300000842180bbva:JosMiguelAndrsTorrecillasMember2021-01-012021-06-300000842180srt:BoardOfDirectorsChairmanMemberbbva:JaimeCaruanaLacorteMember2022-01-012022-06-300000842180bbva:ExecutieveCommitteeMemberbbva:JaimeCaruanaLacorteMember2022-01-012022-06-300000842180bbva:AuditAndComplianceCommitteeMemberbbva:JaimeCaruanaLacorteMember2022-01-012022-06-300000842180bbva:RiskCommitteeMemberbbva:JaimeCaruanaLacorteMember2022-01-012022-06-300000842180bbva:RemunerationCommitteeMemberbbva:JaimeCaruanaLacorteMember2022-01-012022-06-300000842180bbva:AppointmentsCommitteeMemberbbva:JaimeCaruanaLacorteMember2022-01-012022-06-300000842180bbva:TechnologyAndCybersecurityCommitteeMemberbbva:JaimeCaruanaLacorteMember2022-01-012022-06-300000842180bbva:OtherPositionsMemberbbva:JaimeCaruanaLacorteMember2022-01-012022-06-300000842180bbva:JaimeCaruanaLacorteMember2022-01-012022-06-300000842180bbva:JaimeCaruanaLacorteMember2021-01-012021-06-300000842180srt:BoardOfDirectorsChairmanMemberbbva:RalGalambaDeOliveiraMember2022-01-012022-06-300000842180bbva:ExecutieveCommitteeMemberbbva:RalGalambaDeOliveiraMember2022-01-012022-06-300000842180bbva:AuditAndComplianceCommitteeMemberbbva:RalGalambaDeOliveiraMember2022-01-012022-06-300000842180bbva:RiskCommitteeMemberbbva:RalGalambaDeOliveiraMember2022-01-012022-06-300000842180bbva:RemunerationCommitteeMemberbbva:RalGalambaDeOliveiraMember2022-01-012022-06-300000842180bbva:AppointmentsCommitteeMemberbbva:RalGalambaDeOliveiraMember2022-01-012022-06-300000842180bbva:TechnologyAndCybersecurityCommitteeMemberbbva:RalGalambaDeOliveiraMember2022-01-012022-06-300000842180bbva:OtherPositionsMemberbbva:RalGalambaDeOliveiraMember2022-01-012022-06-300000842180bbva:RalGalambaDeOliveiraMember2022-01-012022-06-300000842180bbva:RalGalambaDeOliveiraMember2021-01-012021-06-300000842180bbva:BelnGarijoLpezMembersrt:BoardOfDirectorsChairmanMember2022-01-012022-06-300000842180bbva:BelnGarijoLpezMemberbbva:ExecutieveCommitteeMember2022-01-012022-06-300000842180bbva:BelnGarijoLpezMemberbbva:AuditAndComplianceCommitteeMember2022-01-012022-06-300000842180bbva:BelnGarijoLpezMemberbbva:RiskCommitteeMember2022-01-012022-06-300000842180bbva:BelnGarijoLpezMemberbbva:RemunerationCommitteeMember2022-01-012022-06-300000842180bbva:BelnGarijoLpezMemberbbva:AppointmentsCommitteeMember2022-01-012022-06-300000842180bbva:BelnGarijoLpezMemberbbva:TechnologyAndCybersecurityCommitteeMember2022-01-012022-06-300000842180bbva:BelnGarijoLpezMemberbbva:OtherPositionsMember2022-01-012022-06-300000842180bbva:BelnGarijoLpezMember2022-01-012022-06-300000842180bbva:BelnGarijoLpezMember2021-01-012021-06-300000842180srt:BoardOfDirectorsChairmanMemberbbva:ConnieHedegaardMember2022-01-012022-06-300000842180bbva:ExecutieveCommitteeMemberbbva:ConnieHedegaardMember2022-01-012022-06-300000842180bbva:AuditAndComplianceCommitteeMemberbbva:ConnieHedegaardMember2022-01-012022-06-300000842180bbva:RiskCommitteeMemberbbva:ConnieHedegaardMember2022-01-012022-06-300000842180bbva:RemunerationCommitteeMemberbbva:ConnieHedegaardMember2022-01-012022-06-300000842180bbva:AppointmentsCommitteeMemberbbva:ConnieHedegaardMember2022-01-012022-06-300000842180bbva:TechnologyAndCybersecurityCommitteeMemberbbva:ConnieHedegaardMember2022-01-012022-06-300000842180bbva:OtherPositionsMemberbbva:ConnieHedegaardMember2022-01-012022-06-300000842180bbva:ConnieHedegaardMember2022-01-012022-06-300000842180bbva:ConnieHedegaardMember2021-01-012021-06-300000842180srt:BoardOfDirectorsChairmanMemberbbva:LourdesMaizCarroMember2022-01-012022-06-300000842180bbva:ExecutieveCommitteeMemberbbva:LourdesMaizCarroMember2022-01-012022-06-300000842180bbva:AuditAndComplianceCommitteeMemberbbva:LourdesMaizCarroMember2022-01-012022-06-300000842180bbva:RiskCommitteeMemberbbva:LourdesMaizCarroMember2022-01-012022-06-300000842180bbva:RemunerationCommitteeMemberbbva:LourdesMaizCarroMember2022-01-012022-06-300000842180bbva:AppointmentsCommitteeMemberbbva:LourdesMaizCarroMember2022-01-012022-06-300000842180bbva:TechnologyAndCybersecurityCommitteeMemberbbva:LourdesMaizCarroMember2022-01-012022-06-300000842180bbva:OtherPositionsMemberbbva:LourdesMaizCarroMember2022-01-012022-06-300000842180bbva:LourdesMaizCarroMember2022-01-012022-06-300000842180bbva:LourdesMaizCarroMember2021-01-012021-06-300000842180bbva:JosMaldonadoRamosMembersrt:BoardOfDirectorsChairmanMember2022-01-012022-06-300000842180bbva:ExecutieveCommitteeMemberbbva:JosMaldonadoRamosMember2022-01-012022-06-300000842180bbva:JosMaldonadoRamosMemberbbva:AuditAndComplianceCommitteeMember2022-01-012022-06-300000842180bbva:RiskCommitteeMemberbbva:JosMaldonadoRamosMember2022-01-012022-06-300000842180bbva:JosMaldonadoRamosMemberbbva:RemunerationCommitteeMember2022-01-012022-06-300000842180bbva:JosMaldonadoRamosMemberbbva:AppointmentsCommitteeMember2022-01-012022-06-300000842180bbva:JosMaldonadoRamosMemberbbva:TechnologyAndCybersecurityCommitteeMember2022-01-012022-06-300000842180bbva:OtherPositionsMemberbbva:JosMaldonadoRamosMember2022-01-012022-06-300000842180bbva:JosMaldonadoRamosMember2022-01-012022-06-300000842180bbva:JosMaldonadoRamosMember2021-01-012021-06-300000842180srt:BoardOfDirectorsChairmanMemberbbva:AnaPeraltaMorenoMember2022-01-012022-06-300000842180bbva:ExecutieveCommitteeMemberbbva:AnaPeraltaMorenoMember2022-01-012022-06-300000842180bbva:AuditAndComplianceCommitteeMemberbbva:AnaPeraltaMorenoMember2022-01-012022-06-300000842180bbva:RiskCommitteeMemberbbva:AnaPeraltaMorenoMember2022-01-012022-06-300000842180bbva:RemunerationCommitteeMemberbbva:AnaPeraltaMorenoMember2022-01-012022-06-300000842180bbva:AppointmentsCommitteeMemberbbva:AnaPeraltaMorenoMember2022-01-012022-06-300000842180bbva:TechnologyAndCybersecurityCommitteeMemberbbva:AnaPeraltaMorenoMember2022-01-012022-06-300000842180bbva:OtherPositionsMemberbbva:AnaPeraltaMorenoMember2022-01-012022-06-300000842180bbva:AnaPeraltaMorenoMember2022-01-012022-06-300000842180bbva:AnaPeraltaMorenoMember2021-01-012021-06-300000842180srt:BoardOfDirectorsChairmanMemberbbva:JuanPiLlorensMember2022-01-012022-06-300000842180bbva:ExecutieveCommitteeMemberbbva:JuanPiLlorensMember2022-01-012022-06-300000842180bbva:AuditAndComplianceCommitteeMemberbbva:JuanPiLlorensMember2022-01-012022-06-300000842180bbva:RiskCommitteeMemberbbva:JuanPiLlorensMember2022-01-012022-06-300000842180bbva:RemunerationCommitteeMemberbbva:JuanPiLlorensMember2022-01-012022-06-300000842180bbva:AppointmentsCommitteeMemberbbva:JuanPiLlorensMember2022-01-012022-06-300000842180bbva:TechnologyAndCybersecurityCommitteeMemberbbva:JuanPiLlorensMember2022-01-012022-06-300000842180bbva:OtherPositionsMemberbbva:JuanPiLlorensMember2022-01-012022-06-300000842180bbva:JuanPiLlorensMember2022-01-012022-06-300000842180bbva:JuanPiLlorensMember2021-01-012021-06-300000842180bbva:AnaRevengaShanklinMembersrt:BoardOfDirectorsChairmanMember2022-01-012022-06-300000842180bbva:ExecutieveCommitteeMemberbbva:AnaRevengaShanklinMember2022-01-012022-06-300000842180bbva:AnaRevengaShanklinMemberbbva:AuditAndComplianceCommitteeMember2022-01-012022-06-300000842180bbva:RiskCommitteeMemberbbva:AnaRevengaShanklinMember2022-01-012022-06-300000842180bbva:AnaRevengaShanklinMemberbbva:RemunerationCommitteeMember2022-01-012022-06-300000842180bbva:AnaRevengaShanklinMemberbbva:AppointmentsCommitteeMember2022-01-012022-06-300000842180bbva:AnaRevengaShanklinMemberbbva:TechnologyAndCybersecurityCommitteeMember2022-01-012022-06-300000842180bbva:OtherPositionsMemberbbva:AnaRevengaShanklinMember2022-01-012022-06-300000842180bbva:AnaRevengaShanklinMember2022-01-012022-06-300000842180bbva:AnaRevengaShanklinMember2021-01-012021-06-300000842180srt:BoardOfDirectorsChairmanMemberbbva:SusanaRodriguezVidarteMember2022-01-012022-06-300000842180bbva:ExecutieveCommitteeMemberbbva:SusanaRodriguezVidarteMember2022-01-012022-06-300000842180bbva:AuditAndComplianceCommitteeMemberbbva:SusanaRodriguezVidarteMember2022-01-012022-06-300000842180bbva:RiskCommitteeMemberbbva:SusanaRodriguezVidarteMember2022-01-012022-06-300000842180bbva:RemunerationCommitteeMemberbbva:SusanaRodriguezVidarteMember2022-01-012022-06-300000842180bbva:AppointmentsCommitteeMemberbbva:SusanaRodriguezVidarteMember2022-01-012022-06-300000842180bbva:TechnologyAndCybersecurityCommitteeMemberbbva:SusanaRodriguezVidarteMember2022-01-012022-06-300000842180bbva:OtherPositionsMemberbbva:SusanaRodriguezVidarteMember2022-01-012022-06-300000842180bbva:SusanaRodriguezVidarteMember2022-01-012022-06-300000842180bbva:SusanaRodriguezVidarteMember2021-01-012021-06-300000842180bbva:CarlosSalazarLomelnMembersrt:BoardOfDirectorsChairmanMember2022-01-012022-06-300000842180bbva:ExecutieveCommitteeMemberbbva:CarlosSalazarLomelnMember2022-01-012022-06-300000842180bbva:CarlosSalazarLomelnMemberbbva:AuditAndComplianceCommitteeMember2022-01-012022-06-300000842180bbva:RiskCommitteeMemberbbva:CarlosSalazarLomelnMember2022-01-012022-06-300000842180bbva:CarlosSalazarLomelnMemberbbva:RemunerationCommitteeMember2022-01-012022-06-300000842180bbva:CarlosSalazarLomelnMemberbbva:AppointmentsCommitteeMember2022-01-012022-06-300000842180bbva:TechnologyAndCybersecurityCommitteeMemberbbva:CarlosSalazarLomelnMember2022-01-012022-06-300000842180bbva:OtherPositionsMemberbbva:CarlosSalazarLomelnMember2022-01-012022-06-300000842180bbva:CarlosSalazarLomelnMember2022-01-012022-06-300000842180bbva:CarlosSalazarLomelnMember2021-01-012021-06-300000842180bbva:JanVerplanckeMembersrt:BoardOfDirectorsChairmanMember2022-01-012022-06-300000842180bbva:ExecutieveCommitteeMemberbbva:JanVerplanckeMember2022-01-012022-06-300000842180bbva:JanVerplanckeMemberbbva:AuditAndComplianceCommitteeMember2022-01-012022-06-300000842180bbva:RiskCommitteeMemberbbva:JanVerplanckeMember2022-01-012022-06-300000842180bbva:JanVerplanckeMemberbbva:RemunerationCommitteeMember2022-01-012022-06-300000842180bbva:JanVerplanckeMemberbbva:AppointmentsCommitteeMember2022-01-012022-06-300000842180bbva:TechnologyAndCybersecurityCommitteeMemberbbva:JanVerplanckeMember2022-01-012022-06-300000842180bbva:OtherPositionsMemberbbva:JanVerplanckeMember2022-01-012022-06-300000842180bbva:JanVerplanckeMember2022-01-012022-06-300000842180bbva:JanVerplanckeMember2021-01-012021-06-300000842180srt:BoardOfDirectorsChairmanMember2022-01-012022-06-300000842180bbva:ExecutieveCommitteeMember2022-01-012022-06-300000842180bbva:AuditAndComplianceCommitteeMember2022-01-012022-06-300000842180bbva:RiskCommitteeMember2022-01-012022-06-300000842180bbva:RemunerationCommitteeMember2022-01-012022-06-300000842180bbva:AppointmentsCommitteeMember2022-01-012022-06-300000842180bbva:TechnologyAndCybersecurityCommitteeMember2022-01-012022-06-300000842180bbva:OtherPositionsMember2022-01-012022-06-300000842180bbva:JosMiguelAndrsTorrecillasMember2022-06-30xbrli:shares0000842180bbva:JosMiguelAndrsTorrecillasMember2021-06-300000842180bbva:JaimeCaruanaLacorteMember2022-06-300000842180bbva:JaimeCaruanaLacorteMember2021-06-300000842180bbva:RalGalambaDeOliveiraMember2022-06-300000842180bbva:RalGalambaDeOliveiraMember2021-06-300000842180bbva:BelnGarijoLpezMember2022-06-300000842180bbva:BelnGarijoLpezMember2021-06-300000842180bbva:LourdesMaizCarroMember2022-06-300000842180bbva:LourdesMaizCarroMember2021-06-300000842180bbva:JosMaldonadoRamosMember2022-06-300000842180bbva:JosMaldonadoRamosMember2021-06-300000842180bbva:AnaPeraltaMorenoMember2022-06-300000842180bbva:AnaPeraltaMorenoMember2021-06-300000842180bbva:JuanPiLlorensMember2022-06-300000842180bbva:JuanPiLlorensMember2021-06-300000842180bbva:AnaRevengaShanklinMember2022-06-300000842180bbva:AnaRevengaShanklinMember2021-06-300000842180bbva:SusanaRodriguezVidarteMember2022-06-300000842180bbva:SusanaRodriguezVidarteMember2021-06-300000842180bbva:CarlosSalazarLomelnMember2022-06-300000842180bbva:CarlosSalazarLomelnMember2021-06-300000842180bbva:JanVerplanckeMember2022-06-300000842180bbva:JanVerplanckeMember2021-06-300000842180srt:BoardOfDirectorsChairmanMember2022-06-300000842180srt:BoardOfDirectorsChairmanMember2021-06-300000842180srt:ChiefExecutiveOfficerMember2022-06-300000842180srt:ChiefExecutiveOfficerMember2021-06-300000842180srt:BoardOfDirectorsChairmanMember2022-06-300000842180srt:BoardOfDirectorsChairmanMember2021-06-300000842180srt:ChiefExecutiveOfficerMember2022-06-300000842180srt:ChiefExecutiveOfficerMember2021-06-300000842180bbva:SeniorManagementMember2022-06-300000842180bbva:SeniorManagementMember2021-06-30

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 6-K

REPORT OF FOREIGN ISSUER PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the six months ended June 30, 2022

Commission file number: 1-10110

BANCO BILBAO VIZCAYA ARGENTARIA, S.A.

(Exact name of Registrant as specified in its charter)

BANK BILBAO VIZCAYA ARGENTARIA, S.A.

(Translation of Registrant’s name into English)

Calle Azul, 4

28050 Madrid

Spain

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:


Form 20-F [X]			Form 40-F [ ]

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):


Yes [ ]			No [X]

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):


Yes [ ]			No [X]

BANCO BILBAO VIZCAYA ARGENTARIA, S.A.

TABLE OF CONTENTS


			Page
Certain Terms and Conventions			1
Cautionary Statement Regarding Forward-Looking Statements			2
Presentation of Financial Information			4
Item 3A. Selected Interim Consolidated Financial Data			7
Item 4B. Business Overview			9
Item 4E. Selected Statistical Information			17
Item 5. Operating and Financial Review and Prospects			29
Item 5A. Operating Results			29
Item 5B. Liquidity and Capital Resources			56
Unaudited Condensed Interim Consolidated Financial Statements			F-1

This Form 6-K is incorporated by reference into BBVA’s Registration Statements Nos. 333-240248, 333-228053, 333-217073, 333‑208728, 333‑199835, 333-191625, 333-185538 and 333-178186 on Form S-8 filed with the Securities and Exchange Commission.

CERTAIN TERMS AND CONVENTIONS

The terms below are used as follows throughout this report:

•“BBVA”, the “Bank”, the “Company”, the “Group”, the “BBVA Group” or first person personal pronouns, such as “we”, “us”, or “our”, mean Banco Bilbao Vizcaya Argentaria, S.A. and its consolidated subsidiaries unless otherwise indicated or the context otherwise requires.

•“BBVA Mexico” means Grupo Financiero BBVA Bancomer, S.A. de C.V. and its consolidated subsidiaries, unless otherwise indicated or the context otherwise requires.

•“Consolidated Financial Statements” means our audited consolidated financial statements as of and for the years ended December 31, 2021, 2020 and 2019, prepared in compliance with the International Financial Reporting Standards as issued by the International Accounting Standards Board (“IFRS-IASB”) and in accordance with the International Financial Reporting Standards adopted by the European Union (“EU-IFRS”) required to be applied under the Bank of Spain’s Circular 4/2017 (as defined herein).

•“Garanti BBVA” means Türkiye Garanti Bankası A.Ş., and its consolidated subsidiaries, unless otherwise indicated or the context otherwise requires.

•“Latin America” refers to Mexico and the countries in which we operate in South America and Central America.

•“Unaudited Condensed Interim Consolidated Financial Statements” means our unaudited condensed interim consolidated financial statements as of June 30, 2022 and December 31, 2021 and for the six months ended June 30, 2022 and June 30, 2021 prepared in accordance with International Accounting Standard 34 (IAS 34) as issued by the IASB and adopted by the European Union (“EU”).

•“2021 Form 20-F” means our Annual Report on Form 20-F for the year ended December 31, 2021 filed with the SEC on March 4, 2022.

In this report, “$”, “U.S. dollars”, and “dollars” refer to United States Dollars and “€” and “euro” refer to Euro.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

This report contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) Section 21E of the U.S. Securities Exchange Act of 1934, as amended (the “Exchange Act”), and the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may include words such as “believe”, “expect”, “estimate”, “project”, “anticipate”, “should”, “intend”, “probability”, “risk”, “VaR”, “target”, “goal”, “objective” and similar expressions or variations on such expressions and includes statements regarding future growth rates. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ materially from those in the forward-looking statements as a result of various factors. The accompanying information in this report on Form 6-K, including, without limitation, the information under the items listed below, identifies important factors that could cause such differences:

•“Item 4B. Business Overview”;

•“Item 4E. Selected Statistical Information”; and

•“Item 5. Operating and Financial Review and Prospects”.

Other important factors that could cause actual results to differ materially from those in forward-looking statements include the factors identified in “Item 3. Key Information—Risk Factors”, “Item 4. Information on the Company”, “Item 5. Operating and Financial Review and Prospects” and “Item 11. Quantitative and Qualitative Disclosures About Market Risk” in our 2021 Form 20-F and the following, among others:

•the deterioration of economic conditions or the alteration of the institutional environment of the countries in which we operate, especially Spain, Mexico and Turkey, including any adverse developments, or the perception that such developments may occur, regarding credit quality, public debt sustainability and sovereign ratings, particularly Spain’s, among other factors;

•the intensity of geopolitical and economic risks in recent years as a result of, among other factors, US-China trade tensions, Brexit, the rise of populism and, more recently, Russia’s invasion of Ukraine, which has led to significant disruption, instability and volatility in global markets, as well as higher inflation (including by contributing to further increases in the prices of energy, oil and other commodities and further disrupting supply chains) and lower or negative growth;

•the impact of the coronavirus (COVID-19) pandemic, new waves of contagion, the emergence of new strains, and the measures adopted by governments and the private sector in connection therewith on our business and the economy;

•changes or volatility in interest rates, foreign exchange rates, asset prices, equity markets, commodity prices, inflation or deflation and, in particular, as of the date of this report, the depreciation of the currencies of the non-euro geographies in which we operate, increased inflation, stagflation due to more intense or prolonged supply crises, interest rate cuts in Turkey (which may affect our margins) and interest rate increases in other geographies (which may impact default rates);

•our ability to comply with various legal and regulatory regimes and the impact of changes in applicable laws and regulations, including increased capital, resolution, liquidity and provision requirements and taxation;

•the monetary, interest rate and other policies of central banks, and the trade, economic and other policies of governments, in the EU, Spain, Mexico, Turkey, the United States and elsewhere;

•adverse developments in emerging economies, in particular Latin America and Turkey, including unfavorable political and economic developments, social instability and changes in governmental policies, including expropriation, nationalization, exchange controls or other limitations on the distribution or repatriation of dividends, international ownership legislation, interest rate caps, fee caps and tax policies;

•the success of our acquisitions and investments (including our acquisition in May 2022 of an additional 36.12% stake in Garanti BBVA, which has resulted in BBVA’s stake in Garanti BBVA increasing to 85.97%), divestitures (including the sale in June 2021 of BBVA USA as well as other companies of the BBVA Group in the United States with activities related to the banking business), mergers, joint ventures and strategic alliances;

•adjustments in the real estate markets in the geographies in which we operate, in particular in Spain, Mexico and Turkey;

•the effects of competition in the markets in which we operate, which may be influenced by regulation or deregulation affecting us or our competitors, and our ability to implement technological advances;

•changes in consumer spending and savings habits, including changes in government policies which may influence spending, saving and investment decisions;

•our ability to continue to access sources of liquidity and funding, including public sources of liquidity such as the funding provided by the European Central Bank (“ECB”) under its programs, and our ability to receive dividends and other funds from our subsidiaries;

•our ability to hedge certain risks economically;

•downgrades in our credit ratings or in sovereign credit ratings, particularly Spain’s credit ratings;

•our ability to address physical, regulatory, reputational, transition and business risks associated with climate change and emerging and developing environmental, social and governance standards;

•our ability to make payments on certain substantial unfunded amounts relating to commitments with personnel;

•the performance of our international operations and our ability to manage such operations;

•weaknesses or failures in our Group’s internal or outsourced processes, systems (including information technology systems) and security;

•weaknesses or failures of our anti-money laundering or anti-terrorism programs, or of our internal policies, procedures, systems and other mitigating measures designed to ensure compliance with applicable anti-corruption laws and sanctions regulations;

•security breaches, including cyber-attacks and identity theft;

•the outcome of legal and regulatory actions and proceedings, both those to which the Group is currently exposed and any others which may arise in the future, including actions and proceedings related to former subsidiaries of the Group or in respect of which the Group may have indemnification obligations;

•actions that are incompatible with our ethics and compliance standards, and our failure to timely detect or remedy any such actions;

•uncertainty surrounding the integrity and continued existence of reference rates and the transition away from the Euro Interbank Offered Rate (EURIBOR), Euro OverNight Index Average (EONIA) and London Inter-bank Offered Rate (LIBOR) to new reference rates;

•our success in managing the risks involved in the foregoing, which depends, among other things, on our ability to anticipate events that are not captured by the statistical models we use; and

•force majeure and other events beyond our control.

Readers are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof. We undertake no obligation to release publicly the result of any revisions to these forward-looking statements which may be made to reflect events or circumstances after the date hereof, including, without limitation, changes in our business, strategy or expectations, including as a result of the occurrence of unanticipated events.

PRESENTATION OF FINANCIAL INFORMATION

Under Regulation (EC) no. 1606/2002 of the European Parliament and of the Council of July 19, 2002, all companies governed by the law of an EU Member State and whose securities are admitted to trading on a regulated market of any Member State must prepare their consolidated financial statements for the years beginning on or after January 1, 2005 in conformity with EU-IFRS. The Bank of Spain issued Circular 4/2017 of November 27, 2017 (“Circular 4/2017”), on Public and Confidential Financial Reporting Rules and Formats, which requires Spanish credit institutions to adapt their accounting system to the principles derived from the adoption of EU-IFRS.

There are no differences between EU-IFRS required to be applied under the Bank of Spain’s Circular 4/2017 and IFRS-IASB as of the dates and for the periods presented. The Unaudited Condensed Interim Consolidated Financial Statements included in this report on Form 6-K are in compliance with IAS 34 as issued by the IASB, and adopted by the EU and required to be applied under the Bank of Spain’s Circular 4/2017.

For a description of our critical accounting policies, see Note 2 to our Unaudited Condensed Interim Consolidated Financial Statements, “Item 5. Operating and Financial Review and Prospects—Critical Accounting Policies” in our 2021 Form 20-F and Note 2.2.1 to our Consolidated Financial Statements.

The financial information as of December 31, 2021 and for the six months ended June 30, 2021 included herein and in the Unaudited Condensed Interim Consolidated Financial Statements may differ from previously reported financial information as of such date and for such period in previously filed reports as a result of certain of the modifications referred to in the sections Changes in Accounting Policies and Changes in Intra-Group Adjustments herein.

Hyperinflationary economies - Turkey

Since the second quarter of 2022, the Turkish economy is considered hyperinflationary, resulting in the Group having applied hyperinflation accounting in accordance with IAS 29 “Financial reporting in hyperinflationary economies” in respect thereof with effect from January 1, 2022 with respect to the financial statements of the BBVA Group’s entities located in Turkey1. The net result derived from the application of accounting for hyperinflation in Turkey for the six months ended June 30, 2022 amounts to a loss of €1,776 million, of which €1,022 million is attributed to the parent company of the Group. This impact includes mainly the loss of the net monetary position, which amounts to a gross amount of €1,686 million and is recorded in the line “Other operating expense” in the consolidated income statement, partially offset by the positive impact of the revaluation of certain bonds linked to inflation, for a gross amount of €1,132 million, given that, under IAS 29, these types of bonds are considered protective assets. See Note 2.1 to our Unaudited Condensed Interim Consolidated Financial Statements for additional information on the impacts of the hyperinflation accounting on the consolidated balance sheet and the consolidated income statement of the BBVA Group as of and for the six months ended June 30, 2022, and Note 2.2.19 to our Consolidated Financial Statements for information on the application of IAS 29 to hyperinflationary economies.

Changes in Accounting Policies

New definition of default

In 2021, the Group updated its definition of default for internal credit risk management purposes to conform to that set forth in the European Banking Authority (“EBA”) Guidelines, in compliance with article 178 of Regulation (EU) No 575/2013 (CRR). As a result thereof, the Group deemed it appropriate to update the definition of credit impaired asset (Stage 3), considering it a change in accounting estimate, so that such definition continues to be substantially consistent with the definition of default used for internal credit risk management.

The Group estimated that the update in the definition of credit impaired asset (Stage 3) led to an increase of €1,262 million in impaired financial assets as of December 31, 2021. The impact of this change on expected credit losses was not considered to be significant, since most of the affected transactions were previously classified within Stage 2 and, consequently, their credit risk coverage already corresponded to the expected credit losses throughout the expected lifetime of the transactions.

(Reverse) repurchase agreements recognition

As of June 30, 2022 and December 31, 2021, certain repurchase agreements and reverse repurchase agreements are presented on a net basis in the consolidated balance sheet by offsetting certain financial assets (reverse repurchase agreements) with certain financial liabilities (repurchase agreements). In order to make the information as of June 30, 2021 comparable with the information as of June 30, 2022 and December 31, 2021, the information as of June 30, 2021 was adjusted by reducing “Total assets” and “Total liabilities” by €2,877 million as of such date, respectively.

1 IAS 29 does not apply to the operations outside Turkey of the Türkiye Garanti Bankası A.Ş. group of companies, and in particular to the financial statements of Garanti Bank S.A. in Romania and GarantiBank International N.V. in the Netherlands.

Voluntary Takeover Bid for the Entire Share Capital of Türkiye Garanti Bankası A.Ş.

On November 15, 2021, BBVA announced a voluntary takeover bid (“VTB”) addressed to the holders of the 2,106,300,000 shares2 of Garanti BBVA not controlled by BBVA, which represented 50.15% of Garanti BBVA’s total share capital. BBVA submitted for authorization an application of VTB to the supervisor of the securities markets in Turkey (Capital Markets Board of Turkey, “CMB”) on November 18, 2021.

On March 31, 2022, the CMB approved the relevant information memorandum and, on the same day, BBVA announced the start of the VTB acceptance period on April 4, 2022. On May 18, 2022, BBVA announced the finalization of the offer acceptance period, with the acquisition of 36.12% of Garanti BBVA’s share capital. The total amount paid by BBVA was approximately 22,758 million Turkish lira (equivalent to approximately €1,390 million3) including the expenses associated with the transaction and net of the collection of the dividends corresponding to the stake acquired. The transaction has resulted in a capital gain of approximately €924 million (including the impacts after the application of IAS 29, see Note 2.1 to our Unaudited Condensed Interim Consolidated Financial Statements). An amount of €3,609 million has been recorded under the heading “Other reserves” and there was a reclassification to “Accumulated other comprehensive income (loss)” corresponding to the 36.12% acquired from minority interests to “Accumulated other comprehensive income (loss)” of the parent company amounting to a loss of €2,685 million. The total derecognition associated with the transaction of the heading “Minority interests” considering “Other items” and “Accumulated other comprehensive income (loss)” amounted to a loss of €2,541 million for the six months ended June 30, 2022. The percentage of total share capital of Garanti BBVA owned by BBVA (after the VTB) is 85.97%.

Agreement on the Collective Layoff Procedure

On June 8, 2021, BBVA reached an agreement with union representatives on the collective layoff procedure proposed for Banco Bilbao Vizcaya Argentaria, S.A. in Spain on April 13, 2021, which would affect 2,935 employees. The agreement also included the closing of 480 offices (all closed as of June 30, 2022). Ultimately, by the time the procedure was over, 2,899 employees had accepted the agreement and effectively departed BBVA. The cost of the process amounted to a €994 million expense before taxes for the six months ended June 30, 2021 (€754 million corresponding to the collective layoff and €240 million to the closing of offices, respectively) which was recognized under the headings “Provisions or reversal of provisions and other results”, “Impairment or reversal of impairment on non-financial assets” and “Gains (losses) from non-current assets and disposal groups classified as held for sale not qualifying as discontinued operations” of the BBVA Group and under the heading “Profit / (loss) from discontinued operations, net and Other” of the Corporate Center. See Note 23 to our Unaudited Condensed Interim Consolidated Financial Statements.

Changes in Intra-Group Adjustments

During the first half of 2022, we changed the allocation criteria for certain expenses related to global technology projects between the Corporate Center and the business areas. In addition, an equity team from the Global Markets unit was transferred from Spain to New York, with the corresponding transfer of the costs associated with this reallocation from the Spain business segment to the Rest of Business business segment. In order to make the information as of December 31, 2021 and for the six months ended June 30, 2021 comparable with the information as of and for the six months ended June 30, 2022, segment figures as of December 31, 2021 and for the six months ended June 30, 2021 have been revised in conformity with the new allocation criteria, which has not affected the consolidated financial information of the Group. See Note 5 to our Unaudited Condensed Interim Consolidated Financial Statements for additional information.

2 All references to “shares” or “share” shall be deemed made to lots of 100 shares, which is the trading unit in which Garanti BBVA shares are listed at Borsa Istanbul.

3 Using the effective exchange rate of 16.14 Turkish lira per euro.

Sale of BBVA USA Bancshares, Inc.

On June 1, 2021, after obtaining the relevant regulatory authorizations from the competent authorities, BBVA completed the sale of 100% of the share capital in its subsidiary BBVA USA Bancshares, Inc., which in turn owned 100% of the share capital in BBVA USA, as well as other companies of the BBVA Group in the United States with activities related to this banking business, to The PNC Financial Services Group, Inc. (the “USA Sale”).

The consideration received in cash by BBVA as a consequence of the USA Sale amounted to approximately $11,500 million (the price provided in the agreement minus the agreed closing price adjustments) equivalent to approximately €9,600 million (at an exchange rate of $1.20 per euro).

The results obtained by BBVA USA Bancshares, Inc. were consolidated in the Group’s results during the first five months of 2021, until completion of the USA Sale on June 1, 2021. The accounting for both the results generated by BBVA USA Bancshares, Inc. in the first five months of 2021 and the gain on sale at closing of the transaction resulted in a cumulative profit net of taxes of €280 million in the six months ended June 30, 2021, which was recorded under the heading “Profit / (loss) from discontinued operations, net”, and in a positive impact on the BBVA Group’s Common Equity Tier 1 (“fully loaded”) ratio of approximately 294 basis points as of June 30, 2021. See Notes 3 and 20 to our Unaudited Condensed Interim Consolidated Financial Statements, Note 21 to our Consolidated Financial Statements and “Item 10. Additional Information—Material Contracts—Sale of BBVA USA to The PNC Financial Services Group” in our 2021 Form 20-F.

Statistical and Financial Information

The following principles should be noted in reviewing the statistical and financial information contained herein:

•Average balances, when used, are based on the beginning and the month-end balances during each six-month period. We do not believe that such monthly averages present trends that are materially different from those that would be presented by daily averages.

•Unless otherwise stated, any reference to loans refers to both loans and advances.

•Financial information with respect to segments or subsidiaries may not reflect consolidation adjustments.

•Certain numerical information in this report on Form 6-K may not compute due to rounding. In addition, information regarding period-to-period changes is based on numbers which have not been rounded.

•Information has not been annualized except where explicitly stated.

See “Item 4E. Selected Statistical Information” for information on how the information of BBVA USA Bancshares, Inc. has been treated for purposes of calculating the selected statistical information contained herein.

Item 3A. Selected Interim Consolidated Financial Data

The historical financial information set forth below has been selected from, and should be read together with, the Unaudited Condensed Interim Consolidated Financial Statements included herein. For information concerning the preparation and presentation of the financial information contained herein, see “Presentation of Financial Information”.


	Six months ended June 30,
	2022	2021	Change (%)
	(In Millions of Euros, Except Per Share/ADS Data (in Euros))
Consolidated Statement of Income Data
Interest and other income	13,403	10,962	22.3
Interest expense	(4,852)	(4,007)	21.1
Net interest income	8,551	6,955	22.9


Fee and commission income	3,964	3,311	19.7
Fee and commission expense	(1,314)	(996)	31.9
Net gains (losses) on financial assets and liabilities (1)	379	878	(56.8)

Other operating income	297	340	(12.9)
Other operating expense	(1,803)	(997)	80.9
Income on insurance and reinsurance contracts	1,537	1,350	13.8
Expense on insurance and reinsurance contracts	(908)	(909)	(0.2)
Gross income	11,509	10,259	12.2
Administration costs	(4,401)	(3,983)	10.5
Depreciation and amortization	(652)	(615)	6.0
Provisions or reversal of provisions	(112)	(928)	(87.9)
Impairment or reversal of impairment on financial assets not measured at fair value through profit or loss or net gains by modification	(1,441)	(1,580)	(8.8)
Net operating income	4,903	3,153	55.5
Impairment or reversal of impairment of investments in joint ventures and associates	19	—	n.m. (2)
Impairment or reversal of impairment on non-financial assets	—	(196)	n.m. (2)


Gains (losses) from non-current assets and disposal groups classified as held for sale not qualifying as discontinued operations	(120)	(73)	63.7
Operating profit / (loss) before tax	4,787	2,889	65.7
Tax (expense) or income related to profit or loss from continuing operations	(1,668)	(782)	113.3
Profit / (loss) from continuing operations	3,119	2,107	48.0
Profit / (loss) from discontinued operations, net	—	280	n.m. (2)
Profit	3,119	2,387	30.7
Profit / (loss) attributable to parent company	3,001	1,911	57.1
Profit attributable to non-controlling interests	117	476	(75.3)
Per share / ADS (3) Data
Earnings per share (In Euros) (4)	0.45	0.26
Diluted earnings (losses) per share from continuing operations (4)	0.45	0.21
Basic earnings (losses) per share from continuing operations (4)	0.45	0.21
Dividends declared (In Euros)	—	—
Dividends declared (In U.S. dollars)	—	—
Number of shares outstanding (at period end) (5)	6,386,667,870	6,667,886,580

(1)Comprises the following income statement line items contained in the Unaudited Condensed Interim Consolidated Financial Statements: “Gains (losses) on derecognition of financial assets and liabilities not measured at fair value through profit or loss, net”, “Gains (losses) on financial assets and liabilities held for trading, net”, “Gains (losses) on non-trading financial assets mandatorily at fair value through profit or loss, net”, “Gains (losses) on financial assets and liabilities designated at fair value through profit or loss, net” and “Gains (losses) from hedge accounting, net”.

(2)Not meaningful.

(3)Each American Depositary Share (“ADS”) represents the right to receive one ordinary share.

(4)Reflects the remuneration in the period related to contingent convertible securities, recognized in equity. Calculated on the basis of the weighted average number of BBVA’s ordinary shares outstanding during the relevant period, excluding the weighted average number of treasury shares during the period, and excluding, with respect to the six months ended June 30, 2022, the average cumulative number of shares acquired (since the start of the share buyback program) during the six months ended June 30, 2022 (after such exclusions, 6,338 million and 6,658 million shares for the six months ended June 30, 2022 and 2021, respectively). See Note 4 to our Unaudited Condensed Interim Consolidated Financial Statements, “Item 16E. Purchases of Equity Securities by the Issuer and Affiliated Purchases” in our 2021 Form 20-F and Note 4 to the Consolidated Financial Statements, for additional information on BBVA’s share buyback program.

(5)As of June 30, 2022 BBVA’s share capital amounted to €3,129,467,256.30 divided into 6,386,667,870 shares (€3,267,264,424.20 divided into 6,667,886,580 shares as of December 31, 2021) as a result of the partial execution of the share capital reduction resolution adopted by the General Shareholders’ Meeting of BBVA held on March 18, 2022 (see Note 25 to the Unaudited Condensed Interim Consolidated Financial Statements).


	As of and for the six months ended June 30,		As of and for the year ended December 31,		As of and for the six months ended June 30,
	2022		2021		2021
	(In Millions of Euros, Except Percentages)
Consolidated Balance Sheet Data
Total assets	715,294		662,885		645,292
Common stock	3,129		3,267		3,267
Financial assets at amortized cost	408,148		372,676		368,026
Financial liabilities at amortized cost - Customer deposits	376,973		349,761		338,795
Debt certificates	57,639		59,159		58,791
Non-controlling interest	3,351		4,853		5,428
Total equity (net assets)	48,793		48,760		49,944
Consolidated ratios
Net interest margin (1)	2.55	%	2.16	%	1.98	%
Equity to assets ratio (2)	6.8	%	7.4	%	7.7	%
Credit quality data
Allowance for credit losses (3)	(11,724)		(11,142)		(11,649)
Allowance for credit losses as a percentage of financial assets at amortized cost	2.87	%	2.99	%	3.17	%
Non-performing asset ratio (NPA ratio) (4) (5)	3.72	%	4.09	%	4.18	%
Impaired loans and advances to customers	14,597		14,657		15,013
Impaired loan commitments and guarantees to customers (5)	904		786		663
	15,501		15,443		15,676
Loans and advances to customers at amortized cost (6)	361,800		330,055		327,372
Loan commitments and guarantees to customers	54,889		47,828		47,432
	416,690		377,883		374,804

(1)Represents net interest income as a percentage of average total assets. In order to calculate “Net interest margin” for the six months ended June 30, 2022 and June 30, 2021, respectively, net interest income is annualized by multiplying the net interest income for the period by two.

(2)Represents average total equity (net assets) over average total assets.

(3)Represents loss allowance on loans and advances at amortized cost.

(4)Represents the sum of impaired loans and advances to customers and impaired loan commitments and guarantees to customers divided by the sum of loans and advances to customers and loan commitments and guarantees to customers.

(5)We include loan commitments and guarantees to customers in the calculation of our non-performing asset ratio (NPA ratio). We believe that impaired loan commitments and guarantees to customers should be included in the calculation of our NPA ratio where we have reason to know, as of the reporting date, that they are impaired. The credit risk associated with loan commitments and guarantees to customers (consisting mainly of financial guarantees provided to third parties on behalf of our customers) is evaluated and provisioned according to the probability of default of our customers’ obligations. If impaired loan commitments and guarantees to customers were not included in the calculation of our NPA ratio, such ratio would be lower for the periods covered, amounting to 3.50%, 3.88% and 4.01% as of June 30, 2022, December 31, 2021 and June 30, 2021, respectively.

(6)Includes impaired loans and advances.

Item 4B. Business Overview

The BBVA Group is a customer-centric global financial services group founded in 1857. Internationally diversified and with strengths in the traditional banking businesses of retail banking, asset management and wholesale banking, the Group is committed to offering a compelling digital proposition focused on customer experience.

For this purpose, the Group is focused on increasingly offering products online and through mobile channels, improving the functionality of its digital offerings and refining the customer experience, contributing to the delivery of our strategy in a sustainable and inclusive way. BBVA incorporates sustainability considerations as part of its daily activities and in everything it does, encompassing not only relations with customers but also internal processes.

During the six months ended June 30, 2022, the number of digital and mobile customers and the volume of digital sales continued to increase.

Operating Segments

As of June 30, 2022, the structure of the operating segments used by the BBVA Group for management purposes remained the same as in 2021.

Set forth below are the Group’s current five operating segments:

• Spain;

• Mexico;

• Turkey;

• South America; and

• Rest of Business.

In addition to the operating segments referred to above, the Group has a Corporate Center which includes those items that have not been allocated to an operating segment. It includes the Group’s general management functions, including costs from central units that have a strictly corporate function; management of structural exchange rate positions carried out by the Financial Planning unit; certain proprietary portfolios; certain tax assets and liabilities; certain provisions related to commitments with employees; and goodwill and other intangibles, as well as the financing of such asset portfolios. It also includes the results of the Group’s stake in the venture capital fund Propel Venture Partners. Additionally, the results obtained by the Group’s businesses in the United States included within the scope of the USA Sale, through the date of its closing, have been presented in a single line under the heading “Profit (loss) after tax from discontinued operations” in the income statement of the Corporate Center.

The breakdown of the Group’s total assets by each of BBVA’s operating segments and the Corporate Center as of June 30, 2022 and December 31, 2021 was as follows:


	As of June 30, 2022	As of December 31, 2021
	(In Millions of Euros)
Spain	432,012	413,430
Mexico	140,360	118,106
Turkey	64,101	56,245
South America	66,343	56,124
Rest of Business	46,176	40,328
Subtotal Assets by Operating Segment	748,991	684,233
Corporate Center and Adjustments (1)	(33,698)	(21,348)
Total Assets BBVA Group	715,294	662,885

(1)Includes balance sheet intra-group adjustments between the Corporate Center and the operating segments.

The following table sets forth information relating to the profit (loss) attributable to parent company for each of BBVA’s operating segments and the Corporate Center for the six months ended June 30, 2022 and 2021. Such information is presented under management criteria. For information on the differences between the Group income statement and the income statement calculated in accordance with management operating segment reporting criteria, see “Item 5. Operating and Financial Review and Prospects—Item 5A. Operating Results—Results of Operations by Operating Segment”.


	Profit / (Loss) Attributable to Parent Company		% of Profit / (Loss) Attributable to Parent Company
	Six months ended June 30,
	2022	2021	2022	2021
	(In Millions of Euros)		(In Percentage)
Spain	808	725	25.0	27.9
Mexico	1,821	1,119	56.3	43.1
Turkey	62	384	1.9	14.8
South America	413	210	12.8	8.1
Rest of Business	128	159	4.0	6.1
Subtotal operating segments	3,232	2,598	100.0	100.0
Corporate Center	(230)	(687)
Profit attributable to parent company	3,001	1,911

The following table sets forth certain summarized information relating to the income of each operating segment and the Corporate Center for the six months ended June 30, 2022 and 2021. Such information is presented under management criteria. For information on the differences between the Group income statement and the income statement calculated in accordance with management operating segment reporting criteria, see “Item 5. Operating and Financial Review and Prospects—Item 5A. Operating Results—Results of Operations by Operating Segment”.


	Operating Segments
	Spain	Mexico	Turkey	South America	Rest of Business	Corporate Center	Total (1)
	(In Millions of Euros)
June 2022
Net interest income / (expense)	1,763	3,684	1,163	1,849	155	(64)	8,551
Gross income	3,069	4,887	1,342	1,975	384	(147)	11,509
Net margin before provisions (2)	1,635	3,316	842	1,052	150	(539)	6,456
Operating profit / (loss) before tax	1,414	2,502	637	738	162	(533)	4,921
Profit / (loss) attributable to parent company	808	1,821	62	413	128	(230)	3,001
June 2021
Net interest income / (expense)	1,761	2,771	1,036	1,328	141	(82)	6,955
Gross income	3,035	3,604	1,571	1,480	422	146	10,259
Net margin before provisions (2)	1,529	2,325	1,072	786	194	(247)	5,661
Operating profit / (loss) before tax	985	1,593	952	414	205	(265)	3,883
Profit / (loss) attributable to parent company	725	1,119	384	210	159	(687)	1,911

(1)For information on the reconciliation of the income statement of our operating segments and Corporate Center to the consolidated income statement of the Group, see “Item 5. Operating and Financial Review and Prospects—Item 5A. Operating Results—Results of Operations by Operating Segment”.

(2)“Net margin before provisions” is calculated as “Gross income” less “Administration costs” and “Depreciation and amortization”.

The following tables set forth information relating to the balance sheet of the operating segments and the Corporate Center and adjustments as of June 30, 2022 and December 31, 2021:


	As of June 30, 2022
	Spain	Mexico	Turkey	South America	Rest of Business	Total Operating Segments	Corporate Center and Adjustments (1)
	(In Millions of Euros)
Total Assets	432,012	140,360	64,101	66,343	46,176	748,991	(33,698)
Cash, cash balances at central banks and other demand deposits	37,732	16,589	8,051	8,883	5,108	76,363	5,145
Financial assets at fair value (2)	140,377	39,991	5,598	11,048	5,715	202,729	(10,906)
Financial assets at amortized cost	204,749	78,487	48,362	43,317	34,950	409,866	(1,718)
Loans and advances to customers	176,109	67,020	35,610	40,176	32,142	351,057	(947)







Total Liabilities	417,507	131,411	57,280	60,297	42,118	708,612	(42,112)
Financial liabilities held for trading and designated at fair value through profit or loss	89,119	26,796	2,381	3,105	5,024	126,425	(14,242)
Financial liabilities at amortized cost - Customer deposits	211,023	72,692	42,688	43,314	7,735	377,453	(479)



Total Equity	14,505	8,949	6,821	6,046	4,058	40,379	8,414
Assets under management	86,828	36,908	4,925	17,511	523	146,695	3
Mutual funds	63,271	33,942	2,320	5,744	—	105,277	3
Pension funds	23,558	—	2,606	11,767	523	38,453	—
Other placements	—	2,966	—	—	—	2,966	—

(1)Includes balance sheet intra-group adjustments between the Corporate Center and the operating segments (see “Presentation of Financial Information”).

(2)Financial assets at fair value includes: “Financial assets held for trading”, “Non-trading financial assets mandatorily at fair value through profit or loss”, “Financial assets designated at fair value through profit or loss” and “Financial assets at fair value through other comprehensive income”.


	As of December 31, 2021
	Spain	Mexico	Turkey	South America	Rest of Business	Total Operating Segments	Corporate Center and Adjustments (1)
	(In Millions of Euros)
Total Assets	413,430	118,106	56,245	56,124	40,328	684,233	(21,348)
Cash, cash balances at central banks and other demand deposits	26,386	12,985	7,764	8,549	3,970	59,655	8,145
Financial assets at fair value (2)	145,546	35,126	5,289	7,175	5,682	198,817	(7,726)
Financial assets at amortized cost	199,646	65,311	41,544	37,747	30,315	374,564	(1,888)
Loans and advances to customers	171,081	55,809	31,414	34,608	26,965	319,877	(939)







Total Liabilities	399,428	110,877	50,484	51,147	37,041	648,976	(34,851)
Financial liabilities held for trading and designated at fair value through profit or loss	81,376	19,843	2,272	1,884	5,060	110,434	(9,616)
Financial liabilities at amortized cost - Customer deposits	206,663	64,003	38,341	36,340	6,266	351,613	(1,852)



Total Equity	14,002	7,229	5,761	4,977	3,287	35,257	13,504
Assets under management	94,095	32,380	3,895	16,223	597	147,190	2
Mutual funds	68,597	30,185	1,722	5,728	—	106,232	2
Pension funds	25,498	—	2,173	10,495	597	38,763	—
Other placements	—	2,195	—	—	—	2,195	—

(1)Includes balance sheet intra-group adjustments between the Corporate Center and the operating segments (see “Presentation of Financial Information”).

Spain

This operating segment includes all of BBVA’s banking and non-banking businesses in Spain, other than those included in the Corporate Center. The primary business units included in this operating segment are:

•Spanish Retail Network: including individual customers, private banking, small companies and businesses in the domestic market;

•Corporate and Business Banking: which manages small and medium sized enterprises (“SMEs”), companies and corporations, and public institutions;

•Corporate and Investment Banking: responsible for business with large corporations and multinational groups and the trading floor and distribution business in Spain; and

•Other units: which includes the insurance business unit in Spain (BBVA Seguros) as well as the Group’s shareholding in the bancassurance joint venture with Allianz, Compañía de Seguros y Reaseguros, S.A., the Asset Management unit (which manages Spanish mutual funds and pension funds), lending to real estate developers and foreclosed real estate assets in Spain, as well as certain proprietary portfolios and certain funding and structural interest-rate positions of the euro balance sheet which are not included in the Corporate Center.

Cash, cash balances at central banks and other demand deposits amounted to €37,732 million as of June 30, 2022, a 43.0% increase compared with the €26,386 million recorded as of December 31, 2021, as a result mainly of the increase in its cash held at the Bank of Spain, with a view, in part, to reinforcing the Group’s cash position.

Financial assets at fair value of this operating segment (which includes the following portfolios: “Financial assets held for trading”, “Non-trading financial assets mandatorily at fair value through profit or loss”, “Financial assets designated at fair value through profit or loss” and “Financial assets at fair value through other comprehensive income”) amounted to €140,377 million as of June 30, 2022, a 3.6% decrease from the €145,546 million recorded as of December 31, 2021, mainly as a result of the decrease in loans and advances to customers (through reverse repurchase agreements) recorded under the “Financial assets held for trading” portfolio, partially offset by the increase in trading derivatives recorded under “Financial assets held for trading”, due to the positive impact of changes in exchange rates on foreign currency positions.

Financial assets at amortized cost of this operating segment as of June 30, 2022 amounted to €204,749 million, a 2.6% increase compared with the €199,646 million recorded as of December 31, 2021. Within this heading, loans and advances to customers amounted to €176,109 million as of June 30, 2022, a 2.9% increase from the €171,081 million recorded as of December 31, 2021, mainly as a result of the increase in commercial loans, especially, SMEs, and consumer loans (including credit card loans).

Financial liabilities held for trading and designated at fair value through profit or loss of this operating segment as of June 30, 2022 amounted to €89,119 million, a 9.5% increase compared with the €81,376 million recorded as of December 31, 2021, mainly due to the increase in the value of exchange rate derivatives recorded under the “Financial liabilities held for trading” portfolio.

Customer deposits at amortized cost of this operating segment as of June 30, 2022 amounted to €211,023 million, a 2.1% increase compared with the €206,663 million recorded as of December 31, 2021 mainly due to the increase in demand deposits within the retail portfolio, as a result of the customers’ preference to hold liquid assets in the prevailing uncertain environment.

Off-balance sheet funds of this operating segment (which includes “Mutual funds” (including customer portfolios) and “Pension funds”) as of June 30, 2022 amounted to €86,828 million, a 7.7% decrease compared with the €94,095 million as of December 31, 2021, mainly due to the customers’ preference to hold liquid assets in the prevailing uncertain environment.

This operating segment’s non-performing loan ratio decreased to 4.0% as of June 30, 2022 from 4.2% as of December 31, 2021, mainly as a result of increased lending activity, in particular, in corporate and SMEs loans, and lower Stage 3 entries. Non-performing loan coverage ratio was broadly stable at 61% as of June 30, 2022 and 62% as of December 31, 2021.

Mexico

The Mexico operating segment includes the banking and insurance businesses conducted in Mexico by BBVA Mexico. It also includes BBVA Mexico’s branch in Houston.

The Mexican peso appreciated 10.4% against the euro as of June 30, 2022 compared with December 31, 2021, positively affecting the business activity of the Mexico operating segment as of June 30, 2022 expressed in euros. See “Item 5. Operating and Financial Review and Prospects―Item 5A. Operating Results―Factors Affecting the Comparability of our Results of Operations and Financial Condition―Trends in Exchange Rates”.

Cash, cash balances at central banks and other demand deposits amounted to €16,589 million as of June 30, 2022, a 27.8% increase compared with the €12,985 million recorded as of December 31, 2021, mainly due to an increase in deposits with the Mexican Central Bank (“BANXICO”) and, to a lesser extent, the appreciation of the Mexican peso against the euro.

Financial assets at fair value of this operating segment (which includes the following portfolios: “Financial assets held for trading”, “Non-trading financial assets mandatorily at fair value through profit or loss”, “Financial assets designated at fair value through profit or loss” and “Financial assets at fair value through other comprehensive income”) as of June 30, 2022 amounted to €39,991 million, a 13.9% increase from the €35,126 million recorded as of December 31, 2021, mainly as a result of increases in the value of exchange rate derivatives, in particular in the trading portfolio, and, to a lesser extent, the appreciation of the Mexican peso against the euro.

Financial assets at amortized cost of this operating segment as of June 30, 2022 amounted to €78,487 million, a 20.2% increase compared with the €65,311 million recorded as of December 31, 2021. Within this heading, loans and advances to customers of this operating segment as of June 30, 2022 amounted to €67,020 million, a 20.1% increase compared with the €55,809 million recorded as of December 31, 2021, mainly as a result of the positive performance of commercial loans and the retail portfolio, given the commercial efforts in order to gain and retain customers, with increases in mortgage loans, consumer loans and credit card loans, and, to a lesser extent, the appreciation of the Mexican peso against the euro.

Financial liabilities held for trading and designated at fair value through profit or loss of this operating segment as of June 30, 2022 amounted to €26,796 million, a 35.0% increase compared with the €19,843 million recorded as of December 31, 2021, mainly as a result of increases in the value of exchange rate derivatives and repurchase agreements from BANXICO.

Customer deposits at amortized cost of this operating segment as of June 30, 2022 amounted to €72,692 million, a 13.6% increase compared with the €64,003 million recorded as of December 31, 2021, primarily due to increases in demand deposits in the retail portfolio, as a result of the customers’ preference of holding liquid assets in the prevailing uncertain environment and, to a lesser extent, increases in time deposits and the appreciation of the Mexican peso against the euro.

Off-balance sheet funds of this operating segment (which includes “Mutual funds” (including customer portfolios) and “Other placements”) as of June 30, 2022 amounted to €36,908 million, a 14.0% increase compared with the €32,380 million as of December 31, 2021, mainly as a result of the appreciation of the Mexican peso against the euro and the shift from time deposits towards higher profitability investments, which boosted mutual funds, supported by an improved product offer that includes funds linked to Environmental, Social and Governance (“ESG”) factors.

This operating segment’s non-performing loan ratio decreased to 2.8% as of June 30, 2022 from 3.2% as of December 31, 2021, due to an increase in lending activity, in particular in wholesale and consumer loans, and a positive performance in recoveries. This operating segment’s non-performing loan coverage ratio increased to 119% as of June 30, 2022 from 106% as of December 31, 2021 supported by the higher reserves.

Turkey

This operating segment comprises the activities carried out by Garanti BBVA as an integrated financial services group operating in every segment of the banking sector in Turkey, including corporate, commercial, SME, payment systems, retail, private and investment banking, together with its subsidiaries in pension and life insurance, leasing, factoring, brokerage and asset management, as well as its international subsidiaries in the Netherlands and Romania.

On May 18, 2022, BBVA closed its voluntary takeover bid for the entire share capital of Garanti BBVA, which resulted in BBVA increasing its stake in Garanti BBVA from 49.85% to 85.97%. See “Presentation of Financial Information―Voluntary Takeover Bid for the Entire Share Capital of Türkiye Garanti Bankası A.Ş”.

The Turkish lira depreciated against the euro as of June 30, 2022 compared to December 31, 2021, adversely affecting the business activity of the Turkey operating segment as of June 30, 2022 expressed in euros. See “Item 5. Operating and Financial Review and Prospects―Item 5A. Operating Results―Factors Affecting the Comparability of our Results of Operations and Financial Condition―Trends in Exchange Rates”.

Since the second quarter of 2022, the Turkish economy is considered to be hyperinflationary as defined by IAS 29. See “Presentation of Financial Information—Hyperinflationary economies - Turkey” for information on the impact of hyperinflation accounting.

Cash, cash balances at central banks and other demand deposits amounted to €8,051 million as of June 30, 2022, a 3.7% increase compared with the €7,764 million recorded as of December 31, 2021, as a result of the customers’ preference for holding liquid assets in the prevailing uncertain environment, increasing other demand deposits, partially offset by the depreciation of the Turkish lira against the euro.

Financial assets at fair value of this operating segment (which includes the following portfolios: “Financial assets held for trading”, “Non-trading financial assets mandatorily at fair value through profit or loss”, “Financial assets designated at fair value through profit or loss” and “Financial assets at fair value through other comprehensive income”) as of June 30, 2022 amounted to €5,598 million, a 5.8% increase from the €5,289 million recorded as of December 31, 2021 as a result of the increase in sovereign debt securities recorded under “Financial assets at fair value through other comprehensive income”, partially offset by the depreciation of the Turkish lira against the euro.

Financial assets at amortized cost of this operating segment as of June 30, 2022 amounted to €48,362 million a 16.4% increase compared with the €41,544 million recorded as of December 31, 2021. Within this heading, loans and advances to customers of this operating segment as of June 30, 2022 amounted to €35,610 million, a 13.4% increase compared with the €31,414 million recorded as of December 31, 2021, mainly due to the increase (in local currency) in Turkish lira-denominated commercial loans and, to a lesser extent, consumer and credit card loans, partially offset by the depreciation of the Turkish lira against the euro.

Financial liabilities held for trading and designated at fair value through profit or loss of this operating segment as of June 30, 2022 amounted to €2,381 million, a 4.8% increase compared with the €2,272 million recorded as of December 31, 2021, mainly due to increases in the value of exchange rate derivatives in foreign currency positions.

Customer deposits at amortized cost of this operating segment as of June 30, 2022 amounted to €42,688 million, an 11.3% increase compared with the €38,341 million recorded as of December 31, 2021, mainly due to the increase in time deposits denominated in Turkish lira and, to a lesser extent, in demand deposits denominated in Turkish lira, partially offset by the depreciation of the Turkish lira against the euro. In local currency, deposits were positively affected by the high inflation environment.

Off-balance sheet funds of this operating segment (which includes “Mutual funds” and “Pension funds”) as of June 30, 2022 amounted to €4,925 million, a 26.5% increase compared with the €3,895 million as of December 31, 2021, mainly due to increases in mutual funds as a result of the shift towards higher profitability investments, partially offset by the depreciation of the Turkish lira against the euro.

The non-performing loan ratio of this operating segment decreased to 5.9% as of June 30, 2022 from 7.1% as of December 31, 2021, mainly as a result of increased activity (in particular, commercial loans, consumer and credit card loans in Turkish lira), the change in staging of a large customer of the wholesale portfolio from Stage 3 to Stage 2, higher recoveries and the sale of certain retail portfolios, partially offset by Stage 3 new entries driven by the wholesale portfolio. As a result, this operating segment’s non-performing loan coverage ratio increased to 83% as of June 30, 2022 from 75% as of December 31, 2021.

South America

The South America operating segment includes the Group’s banking and insurance businesses in the region.

The main business units included in the South America operating segment are:

•Retail and Corporate Banking: includes banks in Argentina, Colombia, Peru, Uruguay and Venezuela.

•Insurance: includes insurance businesses in Argentina, Colombia and Venezuela.

As of June 30, 2022, the Colombian peso and the Peruvian sol appreciated against the euro by 5.2% and 14.8%, respectively, compared to December 31, 2021. On the other hand, the Argentine peso depreciated against the euro by 10.4%. Changes in exchange rates have positively affected the business activity of the South America operating segment as of June 30, 2022 expressed in euros. See “Item 5. Operating and Financial Review and Prospects―Item 5A. Operating Results―Factors Affecting the Comparability of our Results of Operations and Financial Condition―Trends in Exchange Rates”.

As of June 30, 2022 and December 31, 2021, the Argentine and Venezuelan economies were considered to be hyperinflationary as defined by IAS 29 (see “Presentation of Financial Information—Changes in Accounting Policies—Hyperinflationary economies” in our 2021 Form 20-F).

Cash, cash balances at central banks and other demand deposits as of June 30, 2022 amounted to €8,883 million, a 3.9% increase compared with the €8,549 million recorded as of December 31, 2021.

Financial assets at fair value for this operating segment (which includes the following portfolios: “Financial assets held for trading”, “Non-trading financial assets mandatorily at fair value through profit or loss”, “Financial assets designated at fair value through profit or loss” and “Financial assets at fair value through other comprehensive income”) as of June 30, 2022 amounted to €11,048 million, a 54.0% increase compared with the €7,175 million recorded as of December 31, 2021, mainly as a result of the positive impact of changes in the valuation of exchange rate derivatives on foreign currency positions, in particular, in Colombia.

Financial assets at amortized cost of this operating segment as of June 30, 2022 amounted to €43,317 million, a 14.8% increase compared with the €37,747 million recorded as of December 31, 2021. Within this heading, loans and advances to customers of this operating segment as of June 30, 2022 amounted to €40,176 million, a 16.1% increase compared with the €34,608 million recorded as of December 31, 2021, mainly as a result of the appreciation of the currencies of the main countries where the BBVA Group operates within the region against the euro (excluding the Argentine peso) and the increase in the retail portfolio, in particular, in consumer loans and credit card loans in Argentina and Colombia (in each case, in local currency).

Financial liabilities held for trading and designated at fair value through profit or loss of this operating segment as of June 30, 2022 amounted to €3,105 million, a 64.8% increase compared with the €1,884 million recorded as of December 31, 2021, mainly due to the positive impact of changes in the valuation of exchange rate derivatives on foreign currency positions, in particular, in Colombia.

Customer deposits at amortized cost of this operating segment as of June 30, 2022 amounted to €43,314 million, a 19.2% increase compared with the €36,340 million recorded as of December 31, 2021, mainly as a result of the increase in time deposits in Argentina, and, to a lesser extent, in Peru and Colombia, in the retail portfolio, and the appreciation of the currencies of the main countries where the BBVA Group operates within the region against the euro (excluding the Argentine peso).

Off-balance sheet funds of this operating segment (which includes “Mutual funds” (including customer portfolios in Colombia and Peru) and “Pension funds”) as of June 30, 2022 amounted to €17,511 million, a 7.9% increase compared with the €16,223 million as of December 31, 2021, mainly due to the appreciation of the currencies of the main countries where the BBVA Group operates within this operating segment against the euro (excluding the Argentine peso) and increases in Argentina mainly as a result of the recovery in mutual funds after the temporary withdrawal of funds invested in mutual funds due to market instability, partially offset by decreases in Peru, in the retail portfolio, and in Colombia.

The non-performing loan ratio of this operating segment decreased to 4.2% as of June 30, 2022 from 4.5% as of December 31, 2021, mainly due to increased activity in the retail portfolio, limited Stage 3 new entries in Colombia and Argentina, and a better recovery ratio, partially offset by decreased activity in Peru. This operating segment’s non-performing loan coverage ratio increased to 100% as of June 30, 2022, from 99% as of December 31, 2021.

Rest of Business

This operating segment includes the wholesale activity carried out by the Group in Europe, excluding Spain, and in the United States, as well the banking business developed through the BBVA branches located in Asia.

Cash, cash balances at central banks and other demand deposits as of June 30, 2022 amounted to €5,108 million, a 28.7% increase compared with the €3,970 million recorded as of December 31, 2021, mainly due to the increase in cash held at central banks within this operating segment, in particular, from the New York branch.

Financial assets at fair value for this operating segment (which includes the following portfolios: “Financial assets held for trading”, “Non-trading financial assets mandatorily at fair value through profit or loss”, “Financial assets designated at fair value through profit or loss” and “Financial assets at fair value through other comprehensive income”) as of June 30, 2022 amounted to €5,715 million, a 0.6% increase compared with the €5,682 million recorded as of December 31, 2021.

Financial assets at amortized cost of this operating segment as of June 30, 2022 amounted to €34,950 million, a 15.3% increase compared with the €30,315 million recorded as of December 31, 2021. Within this heading, loans and advances to customers of this operating segment as of June 30, 2022 amounted to €32,142 million, a 19.2% increase compared with the €26,965 million recorded as of December 31, 2021, mainly due to increased activity in the branches located in Europe, Asia and New York and, to a lesser extent, the appreciation of the U.S. dollar against the euro.

Financial liabilities held for trading and designated at fair value through profit or loss of this operating segment as of June 30, 2022 amounted to €5,024 million, a 0.7% decrease compared with the €5,060 million recorded as of December 31, 2021.

Customer deposits at amortized cost of this operating segment as of June 30, 2022 amounted to €7,735 million, a 23.4% increase compared with the €6,266 million recorded as of December 31, 2021, mainly as a result of the increase in time deposits from wholesale customers at the New York branch, partially offset by the decrease in demand deposits.

Off-balance sheet funds of this operating segment as of June 30, 2022 amounted to €523 million, a 12.5% decrease compared with the €597 million recorded as of December 31, 2021, mainly as a result of decreases in pension funds.

The non-performing loan ratio of this operating segment decreased to 0.5% as of June 30, 2022 from 0.7% as of December 31, 2021, mainly due to increased activity. This operating segment’s non-performing loan coverage ratio increased to 120% as of June 30, 2022, from 116% as of December 31, 2021.

Item 4E. Selected Statistical Information

The following is a presentation of selected statistical information for the periods indicated. Where required under subpart 1400 of Regulation S-K, we have provided such selected statistical information separately for our domestic and foreign activities, pursuant to our determination, where applicable, that our foreign operations are significant according to Rule 9-05 of Regulation S-X. The allocation of assets and liabilities is based on the domicile of the Group entity at which the relevant asset or liability is accounted for. Domestic balances are those of Group entities domiciled in Spain, which reflect our domestic activities, and international balances are those of the Group entities domiciled outside of Spain, which reflect our foreign activities.

Interest income figures, when used, do not include interest income on non-accruing loans to the extent that cash payments have been received, as a result of the application of the interpretation issued by the International Financial Reporting Interpretations Committee (IFRIC) in its “IFRIC Update” of March 2019 regarding the collection of interest on impaired financial assets under IFRS 9 (Collection of interest on impaired financial assets). Loan fees are included in the computation of interest revenue. Interest income figures include “other income”, which amounted to €385 million and €326 million for the six months ended June 30, 2022 and 2021, respectively. For additional information on “interest and other income” see Note 32 to our Unaudited Condensed Interim Consolidated Financial Statements.

Period-on-period variations in the selected statistical information presented herein have been affected by the USA Sale. The assets and liabilities of the companies included within the scope of the USA Sale were recorded under “Non-current assets and disposal groups classified as held for sale” and “Liabilities included in disposal groups classified as held for sale”, respectively, during the first five months of 2021, until completion of the USA Sale on June 1, 2021. However, in order to present average data on a comparable basis for the six months ended June 30, 2022 and 2021, the beginning and month-end balances of the companies included within the scope of the USA Sale were not considered to calculate the average balances of all balance sheet items provided in this section and were included instead in the calculations of the average balances of “Non interest earning assets” and “Non interest bearing liabilities”, as applicable, until the completion of the USA Sale on June 1, 2021. The same approach was followed to calculate the respective “Interest” and “Average Yield” of balance sheet items.

Average Balances and Rates

The tables below set forth selected statistical information on our average balance sheets, which are based on the beginning and month-end balances in each period. We do not believe that monthly averages present trends materially different from those that would be presented by daily averages. We have not recalculated tax-exempt income on a tax-equivalent basis because the effect of doing so would not be significant.


	Average Balance Sheet - Assets and Interest from Interest Earning Assets
	Six months ended June 30, 2022				Six months ended June 30, 2021
	Average Balance	Interest	Average Yield		Average Balance	Interest	Average Yield
	(In Millions of Euros, Except Percentages)
Total Assets (1)	676,815	13,403	3.99	%	707,328	10,962	3.13	%
Interest-earning assets	619,544	13,403	4.36	%	574,533	10,962	3.85	%
Cash and balances with central banks and other demand deposits	63,278	41	0.13	%	48,627	18	0.08	%
Domestic	34,735	1	—		25,095	—	—
Foreign	28,543	40	0.28	%	23,533	18	0.16	%
Financial assets held for trading	67,503	997	2.98	%	55,817	676	2.44	%
Domestic	52,046	113	0.44	%	40,281	69	0.34	%
Foreign	15,457	885	11.54	%	15,536	607	7.88	%
Financial assets at fair value through other comprehensive income	62,035	1,483	4.82	%	70,859	1,004	2.86	%
Domestic	40,480	353	1.76	%	52,480	281	1.08	%
Foreign	21,555	1,130	10.57	%	18,379	723	7.93	%
Financial assets at amortized cost	389,168	10,412	5.40	%	362,956	8,875	4.93	%
Domestic	200,637	1,554	1.56	%	195,607	1,580	1.63	%
Foreign	188,530	8,858	9.47	%	167,349	7,295	8.79	%
Debt securities	36,792	286	1.57	%	35,803	355	2.00	%
Domestic	21,257	95	0.90	%	22,332	104	0.94	%
Foreign	15,535	191	2.48	%	13,471	251	3.76	%
Loans and advances	352,376	10,126	5.79	%	327,153	8,520	5.25	%
Central banks	5,190	159	6.18	%	5,398	168	6.26	%
Domestic	88	—	0.05	%	94	—	0.11	%
Foreign	5,103	159	6.29	%	5,304	168	6.37	%
Credit institutions	12,548	305	4.90	%	12,000	170	2.85	%
Domestic	6,432	12	0.39	%	6,231	5	0.16	%
Foreign	6,116	293	9.65	%	5,769	165	5.75	%
Government	20,491	334	3.28	%	19,023	240	2.54	%
Domestic	12,175	64	1.06	%	12,384	64	1.04	%
Foreign	8,316	270	6.54	%	6,639	176	5.34	%
Other financial corporations	11,510	160	2.80	%	9,182	134	2.94	%
Domestic	5,720	23	0.83	%	4,281	17	0.80	%
Foreign	5,791	137	4.76	%	4,901	117	4.81	%
Individuals	152,346	5,120	6.78	%	145,687	4,466	6.18	%
Domestic	94,047	830	1.78	%	93,066	844	1.83	%
Mortgages	72,625	315	0.87	%	74,165	332	0.90	%
Other	21,423	515	4.85	%	18,901	511	5.46	%
Foreign	58,299	4,290	14.84	%	52,621	3,623	13.88	%
Mortgages	22,741	935	8.29	%	19,690	839	8.59	%
Other	35,558	3,355	19.03	%	32,931	2,783	17.05	%
Non-financial corporations	150,291	4,048	5.43	%	135,863	3,343	4.96	%
Domestic	60,919	529	1.75	%	57,219	547	1.93	%
Foreign	89,371	3,519	7.94	%	78,644	2,796	7.17	%
Derivatives and other financial assets (2)	37,560	470	2.52	%	36,273	388	2.16	%
Domestic	27,965	236	1.70	%	27,881	237	1.72	%
Foreign	9,595	234	4.92	%	8,393	151	3.62	%
Non interest earning assets (3)	57,271	—	—		132,796	—	—

(1)Foreign activity represented 42.26% of the total average assets for the six months ended June 30, 2022 and 46.68% for the six months ended June 30, 2021.

(2)Includes “Derivatives - Hedge accounting”, “Derivatives - Held for trading” and “Financial assets designated at fair value through profit or loss”.

(3)Includes “Insurance and reinsurance assets”, “Joint ventures and associates”, “Tangible assets”, “Intangible assets”, “Tax assets”, “Non-current assets and disposal groups held for sale”, “Non-trading financial assets mandatorily at fair value through profit or loss” and “Other assets”.


	Average Balance Sheet - Liabilities and Interest Paid on Interest Bearing Liabilities
	Six months ended June 30, 2022				Six months ended June 30, 2021
	Average Balance	Interest	Average Rate Paid		Average Balance	Interest	Average Rate Paid
	(In Millions of Euros, Except Percentages)
Total liabilities (1)	676,815	4,852	1.45	%	707,328	4,007	1.14	%
Interest-bearing liabilities	597,909	4,852	1.64	%	561,736	4,007	1.44	%
Financial liabilities held for trading	54,086	58	0.21	%	45,338	36	0.16	%
Domestic	40,496	58	0.29	%	33,848	35	0.21	%
Foreign	13,590	—	—		11,490	1	0.01	%
Financial liabilities at amortized cost	486,693	3,804	1.58	%	461,998	3,002	1.31	%
Debt certificates	53,792	631	2.37	%	56,891	590	2.09	%
Domestic	37,896	301	1.60	%	41,524	282	1.37	%
Foreign	15,896	330	4.19	%	15,367	308	4.04	%
Deposits	432,902	3,173	1.48	%	405,107	2,412	1.20	%
Central banks	48,587	103	0.43	%	48,246	25	0.10	%
Domestic	41,911	14	0.07	%	39,873	3	0.02	%
Foreign	6,677	89	2.70	%	8,372	21	0.52	%
Credit institutions	23,514	711	6.10	%	24,403	542	4.48	%
Domestic	15,483	34	0.44	%	16,857	11	0.13	%
Foreign	8,030	677	17.01	%	7,546	531	14.19	%
Government	21,777	485	4.49	%	16,372	271	3.34	%
Domestic	11,191	1	0.03	%	8,500	1	0.02	%
Foreign	10,586	483	9.21	%	7,872	270	6.93	%
Other financial corporations	19,305	193	2.01	%	20,963	138	1.33	%
Domestic	11,887	52	0.89	%	13,124	70	1.07	%
Foreign	7,419	141	3.82	%	7,839	69	1.77	%
Individuals	219,766	828	0.76	%	205,610	852	0.84	%
Domestic	142,207	62	0.09	%	137,006	66	0.10	%
Foreign	77,559	767	1.99	%	68,603	786	2.31	%
Non-financial corporations	99,952	853	1.72	%	89,514	585	1.32	%
Domestic	39,866	15	0.07	%	37,915	6	0.03	%
Foreign	60,086	838	2.81	%	51,599	579	2.26	%
Provisions	3,365	42	2.53	%	4,133	40	1.94	%
Domestic	3,252	12	0.76	%	3,908	10	0.53	%
Foreign	113	30	53.44	%	225	29	26.33	%
Derivatives and other financial liabilities (2)	53,765	948	3.56	%	50,266	929	3.73	%
Domestic	34,927	78	0.45	%	35,027	37	0.21	%
Foreign	18,838	870	9.32	%	15,239	892	11.80	%
Non-interest bearing liabilities and Equity (3)	78,906	—	—		145,593	—	—

(1)Foreign activity represented 36.80% of the total average liabilities for the six months ended June 30, 2022 and 40.60% for the six months ended June 30, 2021.

(2)Includes “Insurance and reinsurance liabilities”, “Derivatives - Hedge accounting”, “Financial liabilities held for trading” and “Financial liabilities designated at fair value through profit or loss”.

(3)Includes “Tax liabilities”, “Liabilities included in disposal groups classified as held for sale” and “Other liabilities”.

Changes in Net Interest Income - Volume and Rate Analysis

The following tables allocate changes in our net interest income between changes in volume and changes in rate for the six months ended June 30, 2022 compared with the six months ended June 30, 2021. Volume and rate variance have been calculated based on movements in average balances over the period and changes in interest rates on average interest-earning assets and average interest-bearing liabilities. The only out-of-period items and adjustments excluded from such table are interest payments on loans which are made in a period other than the period in which they are due.


	For the six months ended June 30, 2022 / June 30, 2021
	Increase (Decrease) Due to Changes in
	Volume (1)	Rate (2)	Net Change
	(In Millions of Euros)
Interest income
Cash and balances with central banks and other demand deposits	6	17	23
Domestic	—	1	1
Foreign	4	18	22
Financial assets held for trading	142	180	321
Domestic	20	24	44
Foreign	(3)	280	277
Financial assets at fair value through other comprehensive income	(125)	604	479
Domestic	(64)	136	71
Foreign	125	283	407
Financial assets at amortized cost	641	896	1,537
Domestic	10	(79)	(69)
Foreign	(5)	(4)	(9)
Debt securities	10	(79)	(69)
Domestic	657	949	1,606
Foreign	(6)	(2)	(9)
Loans and advances	657	949	1,606
Central banks	(6)	(2)	(9)
Domestic	—	—	—
Foreign	(6)	(2)	(9)
Credit institutions	8	128	135
Domestic	—	7	7
Foreign	10	118	128
Government	18	76	94
Domestic	(1)	2	1
Foreign	44	49	94
Other financial corporations	34	(8)	26
Domestic	6	1	6
Foreign	21	(2)	20
Individuals	204	450	654
Domestic	9	(22)	(14)
Mortgages	(7)	(10)	(17)
Other	16	(12)	4
Foreign	391	276	667
Mortgages	130	(35)	95
Other	261	311	572
Non-financial corporations	355	350	705
Domestic	35	(53)	(18)
Foreign	381	342	723
Derivatives and other financial assets	14	68	82
Domestic	1	(2)	(2)
Foreign	22	62	83
Total income	(473)	2,914	2,441

(1)The volume effect is calculated as the result of the average interest rate of the earlier period multiplied by the difference between the average balances of both periods.

(2)The rate effect is calculated as the result of the average balance of the earlier period multiplied by the difference between the average interest rates of both periods.


	For the six months ended June 30, 2022 / June 30, 2021
	Increase (Decrease) Due to Changes in
	Volume (1)	Rate (2)	Net Change
	(In Millions of Euros)
Interest expense
Financial liabilities held for trading	7	15	22
Domestic	7	15	22
Foreign	—	(1)	(1)
Financial liabilities at amortized cost	160	642	802
Debt certificates	(32)	74	42
Domestic	(25)	43	19
Foreign	11	12	23
Deposits	166	595	761
Central banks	—	78	78
Domestic	—	10	11
Foreign	(4)	72	68
Credit institutions	(20)	189	169
Domestic	(1)	24	23
Foreign	34	113	147
Government	90	124	214
Domestic	—	—	1
Foreign	93	120	213
Other financial corporations	(11)	65	54
Domestic	(7)	(11)	(17)
Foreign	(4)	75	72
Individuals	59	(82)	(23)
Domestic	2	(6)	(4)
Foreign	103	(122)	(20)
Non-financial corporations	68	200	268
Domestic	—	8	9
Foreign	95	164	260
Provisions	(7)	10	3
Domestic	(2)	4	2
Foreign	(15)	15	1
Derivatives and other financial liabilities (3)	65	(46)	19
Domestic	—	41	41
Foreign	211	(232)	(21)
Total expense	(173)	1,019	846
Net interest income	—	—	1,595

(1)The volume effect is calculated as the result of the average interest rate of the earlier period multiplied by the difference between the average balances of both periods.

(2)The rate effect is calculated as the result of the average balance of the earlier period multiplied by the difference between the average interest rates of both periods.

(3)Includes “Insurance and reinsurance liabilities”, “Derivatives - Hedge accounting”, “Financial liabilities held for trading” and “Financial liabilities designated at fair value through profit or loss”.

Interest Earning Assets - Margin and Spread

The following table analyzes the levels of our average interest earning assets and illustrates the comparative gross and net yields and spread obtained for each of the periods indicated.


	Six months ended June 30,
	2022		2021
	(In Millions of Euros, Except Percentages)
Average interest earning assets	619,544		574,533
Gross yield (1)	2.2	%	1.9	%
Net yield (2)	1.4	%	1.2	%
Average effective rate paid on interest-bearing liabilities	0.8	%	0.7	%
Spread (3)	1.4	%	1.2	%

(1)“Gross yield” represents interest income divided by average interest-earning assets.

(2)“Net yield” represents net interest income divided by average interest-earning assets.

(3)“Spread” is the difference between “Gross yield” and the “Average effective rate paid on interest-bearing liabilities”.

ASSETS

See the introduction to “Item 4E. Selected Statistical Information” for information on the impact of the USA Sale on the information reported below.

Interest-Bearing Deposits in Other Banks

As of June 30, 2022, interbank deposits (excluding deposits with central banks) represented 6.1% of our total assets. Of such interbank deposits, 13.4% were held outside of Spain and 86.6% in Spain. We believe that our deposits are generally placed with highly rated banks and have a lower risk than many loans we could make in Spain. However, such deposits are subject to the risk that the deposit banks may fail or the banking system of certain of the countries in which a portion of our deposits are made may face liquidity or other problems.

Securities Portfolio

As of June 30, 2022, our total securities portfolio (consisting of investment securities and loans and advances) was carried on our consolidated balance sheet at a carrying amount (equivalent to its market or appraised value as of such date) of €141,232 million, representing 19.7% of our total assets. €25,009 million, or 17.7% of our securities portfolio consisted of Spanish Treasury bonds and Treasury bills. The average yield during the six months ended June 30, 2022 on the investment securities that BBVA held was 5.5%, compared with an average yield of approximately 0.2% earned on loans and advances in the portfolios “Financial assets held for trading”, “Non-trading financial assets mandatorily at fair value through profit or loss” and “Financial assets designated at fair value through profit or loss” during the six months ended June 30, 2022. See Notes 9 and 12 to our Unaudited Condensed Interim Consolidated Financial Statements for additional information.

The first table in Note 12.3 to our Unaudited Condensed Interim Consolidated Financial Statements sets forth the fair value and the amortized cost of our debt securities recorded under “Financial assets at fair value through other comprehensive income” as of June 30, 2022 and December 31, 2021.

This information is not provided for debt securities recorded under “Financial assets held for trading”, “Non-trading financial assets mandatorily at fair value through profit or loss” and “Financial assets designated at fair value through profit or loss” since the amortized costs and fair values of these items are the same. See Note 7 to our Unaudited Condensed Interim Consolidated Financial Statements.

The second table in Note 12.3 to our Unaudited Condensed Interim Consolidated Financial Statements shows the fair value of debt securities recorded, as of June 30, 2022 and December 31, 2021, under “Financial assets at fair value through other comprehensive income” by rating categories defined by external rating agencies.

The table in Note 12.2 to our Unaudited Condensed Interim Consolidated Financial Statements sets forth the fair value and the amortized cost of our equity instruments recorded under “Financial assets at fair value through other comprehensive income” as of June 30, 2022 and December 31, 2021.

Readers are directed to the tables and Notes referred to above for information regarding our securities portfolio.

For a discussion of our investments in joint ventures and associates, see Note 15 to our Unaudited Condensed Interim Consolidated Financial Statements. For a discussion of the manner in which we value our securities, see Notes 2.2.1 and 8 to our Consolidated Financial Statements.

Loans and Advances

During the six months ended June 30, 2022, the Group’s loan activity has been affected by geopolitical and other challenges and uncertainties globally. See “Item 5. Operating and Financial Review and Prospects―Item 5A. Operating Results―Factors Affecting the Comparability of our Results of Operations and Financial Condition―Macroeconomic and geopolitical conditions” and “Item 5. Operating and Financial Review and Prospects―Item 5A. Operating Results―Factors Affecting the Comparability of our Results of Operations and Financial Condition―The COVID-19 pandemic” and, with respect to 2021, Note 7.2 to our Consolidated Financial Statements for information on the impact of these challenges on our financial condition and results of operations.

In terms of exchange rates as of June 30, 2022 and December 31, 2021, the Turkish lira and the Argentine peso depreciated against the euro, while the Mexican peso, the U.S. dollar, the Colombian peso and the Peruvian sol appreciated against the euro. The overall effect of changes in exchange rates was positive for the period-on-period comparison of the Group’s balance sheet. See “Item 5. Operating and Financial Review and Prospects―Item 5A. Operating Results―Factors Affecting the Comparability of our Results of Operations and Financial Condition―Trends in Exchange Rates”.

As of June 30, 2022, total loans and advances by BBVA and its subsidiaries to associates and jointly controlled companies amounted to €2,125 million, compared with €2,031 million as of December 31, 2021. Loans and advances outstanding to the Spanish government and its agencies amounted to €11,698 million, or 3.2% of our total loans and advances to customers as of June 30, 2022, compared with the €11,904 million, or 3.6% of our total loans and advances to customers as of December 31, 2021. None of our loans to companies controlled by the Spanish government are guaranteed by the government and, accordingly, we apply normal credit criteria in extending credit to such entities. Moreover, we carefully monitor such loans because governmental policies necessarily affect such borrowers.

Diversification in our loan portfolio is our principal means of reducing the risk of loan losses. We also carefully monitor our loans to borrowers in sectors or countries experiencing liquidity problems. Our exposure to our five largest borrowers as of March 31, 2022 (which is the latest available information) excluding government-related loans amounted to €7,363 million or approximately 2.0% of our total outstanding loans and advances to customers.

Loans and Advances to Credit Institutions and Central Banks

As of June 30, 2022, our total loans and advances to credit institutions and central banks amounted to €51,906 million, or 7.3% of total assets, of which total loans and advances to credit institutions and central banks at amortized cost amounted to €19,762 million, or 2.8% of total assets.

Loans and Advances to Customers

As of June 30, 2022, our total loans and advances to customers amounted to €371,563 million, or 51.9% of total assets. Net of our loss allowances, total loans and advances to customers amounted to €359,872 million as of June 30, 2022, or 50.3% of our total assets, a slight decrease from 50.5% of our total assets as of December 31, 2021. As of June 30, 2022 our total loans and advances to customers in Spain amounted to €172,976 million. Our total loans and advances to customers outside Spain amounted to €198,587 million as of June 30, 2022, up from €176,509 million as of December 31, 2021, mainly as a result of a higher volume of commercial loans in Mexico and Turkey, the increase in the retail portfolio in Mexico (mortgage, consumer and credit card loans), South America (consumer and credit card loans) and, to a lesser extent, Turkey (consumer and credit card loans), and, to a lesser extent, the appreciation of the currencies of the main countries where the BBVA Group operates against the euro (excluding the Argentine peso and the Turkish lira) against the euro.

Loans by Geographic Area

The following table shows our loans and advances to customers by geographic area as of the dates indicated:


	As of June 30,	As of December 31,	As of June 30,
	2022	2021	2021
	(In Millions of Euros)
Domestic	172,976	169,625	168,518
Foreign
Western Europe	28,358	31,504	25,341
Mexico	70,374	58,757	55,936
Turkey	34,129	30,058	36,170
South America	45,537	39,518	37,030
Other	20,188	16,672	13,603
Total foreign	198,587	176,509	168,080
Total loans and advances (1)	371,563	346,134	336,598
Loss allowances	(11,691)	(11,116)	(11,620)
Total net lending (1)	359,872	335,018	324,978

(1)Includes loans and advances to customers included in the following headings: “Financial assets held for trading”, “Non-trading financial assets mandatorily at fair value through profit or loss”, “Financial assets designated at fair value through profit or loss” and “Financial assets at amortized cost”, net of loss allowances.

Maturity and Interest Sensitivity

The following table sets forth a breakdown by maturity of our total loans and advances to customers, including their fixed and variable rates, by type of customer as of June 30, 2022. The determination of maturities is based on contract terms.


	Maturity					Maturity After One Year
	Due In One Year or Less	Due After One Year Through Five Years	Due After Five Years Through Fifteen Years	Due After Fifteen Years	Total	Fixed Rate	Variable Rate
	(In Millions of Euros)
Domestic
Agriculture, forestry and fishing	437	711	233	59	1,441	790	214
Manufacturing, mining and quarrying, and other industrial activities	7,295	7,329	1,728	911	17,263	6,110	3,858
Of which: manufacturing	6,186	5,434	1,104	779	13,503	5,273	2,044
Construction	1,368	1,817	1,182	508	4,874	1,172	2,334
Wholesale and retail trade, transportation and storage, accommodation and food service activities	6,550	8,906	2,897	992	19,345	8,013	4,782
Information and communication	975	633	96	86	1,790	388	427
Financial and insurance activities	4,114	2,518	391	301	7,323	1,754	1,456
Real estate activities	500	1,869	1,674	113	4,155	1,758	1,898
Professional, scientific, technical, administrative and support service activities	1,261	2,090	565	150	4,066	1,719	1,086
Public administration and defense, education, human health and social work activities	3,147	6,494	3,188	64	12,894	6,284	3,462
Other service activities	14,163	25,790	35,500	22,854	98,307	30,850	53,294
Of which:
Households	13,927	25,219	35,297	22,827	97,271	30,297	53,046
For House Purchase	4,397	15,432	30,889	22,354	73,072	17,211	51,465
Credit for consumption	4,892	7,039	2,895	64	14,890	9,755	243
Other purposes	4,639	2,747	1,513	409	9,308	3,332	1,338
Total Domestic	39,809	58,155	47,455	26,038	171,458	58,837	72,812
Foreign
Agriculture, forestry and fishing	1,512	843	391	8	2,753	902	339
Manufacturing, mining and quarrying, and other industrial activities	24,261	16,129	5,208	91	45,689	6,056	15,372
Of which: manufacturing	16,557	9,209	2,210	52	28,028	4,584	6,887
Construction	1,594	1,079	673	94	3,440	498	1,348
Wholesale and retail trade, transportation and storage, accommodation and food service activities	13,833	11,066	5,477	77	30,453	8,953	7,667
Information and communication	2,258	2,408	227	35	4,928	893	1,778
Financial and insurance activities	8,475	3,151	787	30	12,443	1,311	2,658
Real estate activities	1,538	2,736	2,194	8	6,476	1,491	3,448
Professional, scientific, technical, administrative and support service activities	1,153	1,653	384	1	3,191	932	1,106
Public administration and defense, education, human health and social work activities	2,025	2,091	4,404	2,789	11,309	2,196	7,087
Other service activities	13,423	26,917	16,435	12,886	69,661	46,927	9,310
Of which:
Households	10,818	26,405	16,235	12,876	66,333	46,546	8,970
For House Purchase	199	1,563	10,770	12,731	25,264	23,232	1,832
Credit for consumption	7,961	22,308	5,057	59	35,384	21,085	6,339
Other purposes	2,658	2,534	407	87	5,686	2,229	799
Total Foreign	70,071	68,074	36,179	16,019	190,343	70,158	50,114
Total loans and advances (1)	109,879	126,230	83,634	42,058	361,800	128,995	122,926

(1)Includes loans and advances to customers included in “Financial assets at amortized cost”.

Loss allowances on Loans and Advances

The following table provides information regarding the ratios of allowances for credit losses to total loans and net charge-offs to average loans for the periods indicated, in each case. For a discussion of accounting standards related to loss allowances on financial assets, see Note 2.2.1 to our Consolidated Financial Statements.


	As of and for the six months ended June 30,		As of and for the year ended December 31,
	2022		2021
	(In Millions of Euros)

Allowance for credit losses to total loans and advances at amortized cost outstanding	3.07	%	3.19	%
Allowance for credit losses	11,724		11,142
Domestic	4,956		5,006
Foreign	6,768		6,136
Total loans outstanding	381,596		349,037
Domestic	188,215		182,822
Foreign	193,381		166,215
Net loan charge-offs as a percentage of average loans and advances at amortized cost during the period	—		337,895
Domestic (1)	0.22	%	0.41	%
Non-financial corporations	0.22	%	0.69	%
Net charge-offs during the period	93		525
Average loans outstanding	84,074		76,028
Individuals	0.27	%	0.31	%
Net charge-offs during the period	130		299
Average loans outstanding	95,856		95,540
Other	0.01	%	0.01	%


Foreign	1.63	%	1.66	%
Mexico	1.91	%	3.05	%
Non-financial corporations	0.29	%	1.18	%
Net charge-offs during the period	38		263
Average loans outstanding	26,571		22,334
Individuals	3.94	%	5.68	%
Net charge-offs during the period	549		1,357
Average loans outstanding	28,077		23,894
Other	—		—


Turkey	2.19	%	0.45	%
Non-financial corporations	4.01	%	0.64	%
Net charge-offs during the period	439		150
Average loans outstanding	22,102		23,295
Individuals	0.13	%	0.33	%
Net charge-offs during the period	7		40
Average loans outstanding	10,144		12,107
Other	—		—


South America	0.61	%	1.05	%
Non-financial corporations	0.68	%	1.15	%
Net charge-offs during the period	58		174
Average loans outstanding	17,299		15,148
Individuals	0.65	%	1.26	%
Net charge-offs during the period	59		197
Average loans outstanding	18,175		15,657
Other	—		—


Other Countries	—		—
Net charge-offs during the period	—		—
Average loans outstanding	637		686
Total loan charge-offs as a percentage of average loans and advances at amortized cost during the period	0.78	%	0.91	%
Net charge-offs during the period	1,374		3,008
Average total loans and advances at amortized cost outstanding	353,013		331,822

(1)Domestic loans charged off in 2022 and 2021 were mainly related to the real estate sector.

When the recovery of any recognized amount is considered to be remote, this amount is removed from the consolidated balance sheet, without prejudice to any actions taken by the consolidated entities in order to collect the amount until their rights extinguish in full through expiry, forgiveness or for other reasons.

Our total net charge-offs to average loans at amortized cost ratio amounted to 0.78% for the six months ended June 30, 2022, compared with 0.91% for the year ended December 31, 2021, mainly as a result of decreases in charge-offs in Mexico, and to a lesser extent, Spain and South America. The decrease was partially offset by an increase in charge-offs in Turkey.

The following factors, set out by region, were the main contributors to the decrease in the ratio:

• Mexico: there was a decrease in the ratio mainly due to higher recoveries in the retail portfolio and increases in average outstanding loans to individuals (wholesale and consumer loans).

• Spain: there was a decrease in the ratio mainly due to higher recoveries, lower credit impairment requirements and increased lending activity, in particular, in corporate and SMEs loans.

• South America: there was a decrease in the ratio mainly due to an improvement in credit deterioration, increased activity in the retail portfolio, limited Stage 3 new entries in Colombia and Argentina, and a better recovery ratio.

The decrease in the total net charge-offs to average loans ratio was partially offset by:

• Turkey: there was an increase in the ratio mainly due to a significant Stage 3 entry in the wholesale portfolio.

Our allowance for credit losses to total loans and advances at amortized cost decreased to 3.07% as of June 30, 2022 compared with 3.19% as of December 31, 2021, mainly as a result of the increase in total loans outstanding (SMEs and consumer loans, including credit card loans, in Spain, Mexico and South America).

Impaired Loans

Loans are considered to be credit-impaired under IFRS 9 if one or more events have occurred and they have a detrimental impact on the estimated future cash flows of the loan.

Amounts collected in relation to impaired financial assets at amortized cost are first applied to the outstanding interest and any excess amount is used to reduce the unpaid principal. The approximate amount of interest on our impaired loans which was included in profit attributable to parent company for the six months ended June 30, 2022 and 2021 was €133 million and €137 million, respectively.

The following table provides information regarding our impaired loans to customers, central banks and credit institutions as of the dates indicated:


	As of June 30,		As of December 31,
	2022		2021
	(In Millions of Euros)
Impaired loans
Domestic	7,775		7,822
Public sector	51		59
Other resident sector	7,724		7,762
Foreign	6,822		6,836
Public sector	1		3
Other non-resident sector	6,821		6,833
Total impaired loans	14,597		14,657
Allowance for credit losses	(11,724)		(11,142)
Impaired loans net of allowance	2,873		3,516
Impaired loans as a percentage of loans and advances at amortized cost	3.83	%	4.20	%
Impaired loans (net of allowance) as a percentage of loans and advances at amortized cost	0.75	%	1.01	%

Our total impaired loans amounted to €14,597 million as of June 30, 2022, a 0.4% decrease compared with €14,657 million as of December 31, 2021.

Our allowance for credit losses includes loss reserve for impaired assets and loss reserve for unimpaired assets which present an expected credit loss. As of June 30, 2022, the allowance for credit losses amounted to €11,724 million, a 5.2% increase compared with the €11,142 million recorded as of December 31, 2021, mainly due to an increase in the collective expected losses in Spain, Mexico, Turkey and South America related to loans to individuals. In the six months ended June 30, 2022 there were lower write-offs from the amortized cost portfolio.

LIABILITIES

See the introduction to “Item 4E. Selected Statistical Information” for information on the impact of the USA Sale on the information reported below.

Deposits

The principal components of our customer deposits recorded under “Financial liabilities at amortized cost” are domestic demand and savings deposits and time deposits. The following tables provide information regarding the average amount of the following deposit categories recorded under “Financial liabilities at amortized cost” for the dates indicated:


	As of June 30,	As of December 31,
	2022	2021
	(In Millions of Euros)
Demand deposits	309,813	279,166
Domestic	197,179	182,675
Foreign	112,634	96,491
Time deposits	112,991	116,221
Domestic	61,673	66,684
Foreign	51,318	49,538
Other	10,098	13,325
Domestic	3,693	4,526
Foreign	6,404	8,798
Total Domestic	262,545	253,885
Total Foreign	170,357	154,827
Total	432,902	408,712

Large denomination deposits may be a less stable source of funds than demand and savings deposits because they are more sensitive to variations in interest rates. For additional information on our deposits recorded under “Financial liabilities at amortized cost”, see Note 21 to our Unaudited Condensed Interim Consolidated Financial Statements.

EQUITY

Shareholders’ equity

As of June 30, 2022, shareholders’ equity amounted to €48,793 million, a 0.1% increase compared to the €48,760 million recorded as of December 31, 2021.

Accumulated other comprehensive income (loss)

As of June 30, 2022, the accumulated other comprehensive loss amounted to €16,452 million, a 0.1% decrease compared to the €16,476 million recorded as of December 31, 2021.

The majority of the balance is related to the conversion to euros of the financial statements balances from consolidated entities whose functional currency is not the euro.

Item 5. OPERATING AND FINANCIAL REVIEW AND PROSPECTS

Critical Accounting Policies

We consider certain of our critical accounting policies to be particularly important due to their effect on the financial reporting of our financial condition and results of operations and because they require management to make difficult, complex or subjective judgments, some of which may relate to matters that are inherently uncertain. Our reported financial condition and results of operations are sensitive to accounting methods, assumptions and estimates that underlie the preparation of our consolidated financial statements. The nature of critical accounting policies, the judgments and other uncertainties affecting application of those policies and the sensitivity of reported results to changes in conditions and assumptions are factors to be considered when reviewing our Unaudited Condensed Interim Consolidated Financial Statements. For information on the estimates made by the Group in preparing the Unaudited Condensed Interim Consolidated Financial Statement, see Note 1.4 to our Unaudited Condensed Interim Consolidated Financial Statements.

See Note 6.2.2 to our Unaudited Condensed Interim Consolidated Financial Statements for information on the measurement of expected credit loss.

Item 5A. Operating Results

Factors Affecting the Comparability of our Results of Operations and Financial Condition

Trends in Exchange Rates

We are exposed to foreign exchange rate risk in that our reporting currency is the euro, whereas certain of our subsidiaries and investees have different functional and accounting currencies, principally Mexican pesos, Turkish liras, Argentine pesos, Colombian pesos, Peruvian soles and U.S. dollars. For example, if the Turkish lira or Latin American currencies depreciate against the euro, when the results of operations of our subsidiaries in the countries using these currencies are included in our consolidated financial statements, the euro value of their results declines, even if, in local currency terms, their results of operations and financial condition have remained the same. By contrast, the appreciation of the Turkish lira or Latin American currencies against the euro would have a positive impact on the results of operations of our subsidiaries in the countries using these currencies when their results of operations are included in our consolidated financial statements. Accordingly, changes in exchange rates may limit the ability of our results of operations, stated in euro, to fully show the performance in local currency terms of our subsidiaries.

Except with respect to hyperinflationary economies, where all the components of the financial statements of the relevant subsidiaries (in each case, for any period in which the relevant economy was considered to be hyperinflationary) are converted at the relevant period-end exchange rate, the assets and liabilities of our subsidiaries which maintain their accounts in currencies other than the euro have been converted to the euro at the period-end exchange rates for inclusion in our Unaudited Condensed Interim Consolidated Financial Statements, and income statement items have been converted at the average exchange rates for the period. See Note 2.1 to our Unaudited Condensed Interim Consolidated Financial Statements and Note 2.2.19 to our Consolidated Financial Statements for information on the application of IAS 29 to hyperinflationary economies. The following table sets forth the exchange rates of the currencies of the main non-euro regions where we operate against the euro, expressed in local currency per €1.00 as averages for the six months ended June 30, 2022 and June 30, 2021, and as period-end exchange rates as of June 30, 2022 and as of December 31, 2021 according to the European Central Bank (the “ECB”).


	Average Exchange Rates		Period-End Exchange Rates
	For the six months ended June 30, 2022	For the six months ended June 30, 2021	As of June 30, 2022	As of December 31, 2021
Mexican peso	22.1618	24.3235	20.9641	23.1438
Turkish lira (1)		9.5232	17.3220	15.2335
U.S. dollar	1.0934	1.2051	1.0387	1.1326
Argentine peso			129.8842	116.3746
Colombian peso	4,281.0542	4,368.2336	4,287.2031	4,509.0618
Peruvian sol	4.1247	4.4918	3.9243	4.5045

(1)With respect to the six months ended June 30, 2022, income statement items have been converted at the exchange rate as of June 30, 2022. With respect to the six months ended June 30, 2021, income statement items have been converted at the average exchange rates for the period.

During the six months ended June 30, 2022, the Mexican peso, the U.S. dollar, the Colombian peso and the Peruvian sol appreciated against the euro in average terms compared with the same period of the prior year. In terms of period-end exchange rates, the Turkish lira and the Argentine peso depreciated against the euro. On the other hand, the Mexican peso, the U.S. dollar, the Colombian peso and the Peruvian sol appreciated against the euro in terms of period-end exchange rates. The overall effect of changes in exchange rates was slightly negative for the period-on-period comparison of the Group’s income statement and positive for the period-on-period comparison of the Group’s balance sheet.

When comparing two dates or periods in this report on Form 6-K we have sometimes excluded, where specifically indicated, the impact of changes in exchange rates by assuming constant exchange rates. In doing this, with respect to income statement amounts, we have used the average exchange rate for the more recent period for both periods and, with respect to balance sheet amounts, we have used the closing exchange rate of the more recent period for both period ends.

Hyperinflationary economies - Turkey

Since the second quarter of 2022, the Turkish economy is considered hyperinflationary, resulting in the Group having applied hyperinflation accounting in accordance with IAS 29 “Financial reporting in hyperinflationary economies” in respect thereof with effect from January 1, 2022 with respect to the financial statements of the BBVA Group’s entities located in Turkey4. The net result derived from the application of accounting for hyperinflation in Turkey for the six months ended June 30, 2022 amounts to a loss of €1,776 million, of which €1,022 million is attributed to the parent company of the Group. This impact includes mainly the loss of the net monetary position, which amounts to a gross amount of €1,686 million and is recorded in the line “Other operating expense” in the consolidated income statement, partially offset by the positive impact of the revaluation of certain bonds linked to inflation, for a gross amount of €1,132 million, given that, under IAS 29, these types of bonds are considered protective assets. See Note 2.1 to our Unaudited Condensed Interim Consolidated Financial Statements for additional information on the impacts of the hyperinflation accounting on the consolidated balance sheet and the consolidated income statement of the BBVA Group as of and for the six months ended June 30, 2022, and Note 2.2.19 to our Consolidated Financial Statements for information on the application of IAS 29 to hyperinflationary economies.

Macroeconomic and geopolitical conditions

The Group is sensitive to the deterioration of economic conditions or the alteration of the institutional environment of the countries in which it operates, and especially Spain, Mexico and Turkey. In addition to the significant macroeconomic problems triggered by the COVID-19 pandemic, the global economy is currently facing a number of extraordinary challenges. Russia’s invasion of Ukraine, has led to significant disruption, instability and volatility in global markets, as well as higher inflation (including by contributing to further increases in the prices of oil, gas and other commodities and further disrupting supply chains) and lower growth. The EU, United States and other governments have imposed significant sanctions and export controls against Russia and Russian interests and threatened additional sanctions and controls. For additional information on the deteriorating economic environment, see “—Operating Environment”.

During the six months ended June 30, 2022, the Group’s business has been affected by geopolitical and other challenges and uncertainties globally, which have been heightened by Russia’s invasion of Ukraine. Moreover, the Group’s results of operations have been affected by the record-high inflation in all countries in which BBVA operates, including Spain, Turkey (which economy was considered hyperinflationary since the second quarter of 2022) and South America. Inflation has led to higher expenses and its effects have been considered on the macroeconomic forecasts used to calculate expected credit losses of the BBVA Group for the six months ended June 30, 2022. On the other hand, inflation-linked bonds in Turkey have positively contributed to the results of operations of the BBVA Group during the six months ended June 30, 2022. Further, there can be no assurance that adverse developments in the Turkish economy and institutional and regulatory environment will not have a material adverse effect on the Group’s business, financial condition and results of operations in Turkey. The Central Bank of Turkey has recently strengthened its macroprudential policy toolkit and revised the reserve requirement regulation. With this new regulation, reserve requirements, which used to be applied to the liability side of balance sheets, will also be applied to the asset side of balance, including Turkish lira-denominated commercial cash loans (subject to certain exceptions). See “Item 4. Information on the Company—Business Overview—Supervision and Regulation—Principal Markets—Turkey” in our 2021 Form 20-F for information on certain recent institutional and regulatory developments affecting the Group. Further, the Group’s results of operations have been affected by the increases in interest rates adopted by central banks in an attempt to tame inflation, contributing to the rise in funding costs in particular, in Mexico. Further, increases in interest rates could adversely affect the Group in future periods by reducing the demand for credit, limiting its ability to generate credit for its clients and leading to an increase in the default rate of its counterparties.

4 IAS 29 does not apply to the operations outside Turkey of the Türkiye Garanti Bankası A.Ş. group of companies, and in particular to the financial statements of Garanti Bank S.A. in Romania and GarantiBank International N.V. in the Netherlands.

The COVID-19 pandemic

The COVID-19 pandemic has adversely affected the world economy, and economic activity and conditions in the countries in which the Group operates. New waves of contagion continue to be a source of concern and the emergence of new strains remains a risk, although increasing vaccination rates have contributed to reduce its impact on economic activity.

The impact of the COVID-19 pandemic on the Group’s results generally improved with the progressive lessening of restrictions and the reopening of its branches since first half of 2021 and, in particular, had a greater impact on the Group’s results for the six months ended June 30, 2021, than in the Group’s results for the six months ended June 30, 2022. Still, the COVID-19 pandemic and the ensuing deterioration of economic conditions have led to an increase in loan losses from both companies and individuals, which has so far been slowed down by the impact of government support measures, including bank payment deferrals, credit with public guarantee and direct aid measures, and its final impact is not yet known.

Since the beginning of the pandemic, the Group offered COVID-19 support measures to its customers consisting of both payment deferrals on existing loans and new public-guaranteed lending. In particular, in Spain, the Instituto de Crédito Oficial (ICO) approved several support programs aimed at the self-employed, SMEs and companies and, in March, 2022, the Code of Best Practices was modified to lessen loan access conditions to customers in economic difficulties, especially those exposed to fluctuations in the prices of energy and other raw materials, and opened the door to term extensions of ICO-guaranteed financing to self-employed and companies, beyond June 30, 2022. Similar programs were adopted in other countries where the Group operates, including Peru, which adopted public support programs such as Reactiva (which expires on December 31, 2022), and Turkey, Colombia and Argentina, where new government-guaranteed financing was granted. Since June 30, 2021, the total amount of payment deferrals granted to customers by the BBVA Group has followed a decreasing trend.

Furthermore, the Group has been affected by other measures (including recommendations) adopted by regulatory authorities in the banking sector, such as variations in reference interest rates, the modification of prudential requirements, the temporary suspension of dividend payments, as well as the termination of the ECB’s financial assets purchase programs. For additional information, see Note 6.1 to our Unaudited Condensed Interim Consolidated Financial Statements, Note 1.5 to our Consolidated Financial Statements and “Item 5. Operating and Financial Review and Prospects―Operating Results―Factors Affecting the Comparability of our Results of Operations and Financial Condition―The COVID-19 Pandemic” in our 2021 Form 20-F.

Agreement on the Collective Layoff Procedure

Sale of BBVA USA Bancshares, Inc.

Operating Environment

Our results of operations are dependent, to a large extent, on the level of demand for our products and services (primarily loans and deposits but also intermediation of financial products such as sovereign or corporate debt) in the countries in which we operate. Demand for our products and services in those countries is affected by the performance of their respective economies in terms of Gross Domestic Product (“GDP”), as well as prevailing levels of employment, inflation and, particularly, interest rates. Typically, the demand for loans and saving products correlates positively with income, which correlates in turn with GDP, employment and corporate profits evolution. Interest rates have a direct impact on banking results as the banking activity mainly relies on the generation of positive interest margins by paying lower interest on liabilities, primarily deposits, than the interest received on assets, primarily loans. However, it should be noted that higher interest rates, all else being equal, also reduce the demand for banking loans, increase the cost of funding of the banking business and typically lead to an increase in default rates.

In 2021, the world economy grew significantly, recovering, in part, from the crisis generated by the pandemic, which caused a sharp drop in world GDP in 2020. The relevant rebound in global growth was due to progress in vaccination against the COVID-19 and the significant economic stimuli adopted by the authorities.

Activity indicators show that, despite a clear moderation trend, economic growth, in general, remained at relatively high levels during the first half of the year 2022. Previously accumulated savings, the process of normalization of activity after the restrictions and disruptions generated by the pandemic, as well as the dynamism of the labor markets have contributed, in particular, to the performance of private consumption and the services sector.

The relative resilience of demand, the persistence of disruptions in global supply chains and, mainly, the impact of the war in Ukraine on commodity prices have reinforced pressures on inflation, which has continued to surprise on the upside (8.6% in the Eurozone and 9.1% in the United States in June 2022). In addition to exhibiting greater persistence, inflationary pressures have also become more widespread in recent months.

In this context, central banks have reacted, paving the way for an aggressive tightening of monetary conditions. Specifically, the U.S. Federal Reserve (“Fed”) has increased reference interest rates by 150 basis points (“bp”) since the beginning of the year to 1.75% in June and has begun the process of asset sales to reduce the size of its balance sheet. Likewise, it has indicated that the increases in interest rates will continue in the coming months. According to BBVA Research, U.S. interest rates will likely reach around 4.0% at the beginning of 2023. In the Eurozone, the ECB terminated the pandemic emergency purchase program (PEPP) as well as the asset purchase program (APP) and has announced in July 2022 a rise of 50 bp in reference interest rates. Moreover, it has introduced the Transmission Protection Instrument (TPI), a new asset-purchase program that could eventually be activated to support the effective transmission of monetary policy and counter unwarranted, disorderly market dynamics.

Despite the high current uncertainty, the central scenario that BBVA Research uses in its estimates considers that the global economy will slow down significantly going forward, with eventual episodes of recession in the United States and the Eurozone. The significant tightening of monetary conditions would mainly contribute to this slowdown in growth in a context in which commodity prices and supply disruptions will continue to weigh negatively.

According to BBVA Research, after increasing by 6.2% in 2021, global GDP will grow 3.4% in 2022 and 2.5% in 2023, respectively 100 and 120 bp below what was expected six months ago. In the United States, growth would drop to 2.7% in 2022 and 0.7% in 2023, when the strong monetary adjustment would generate a mild recession. In the Eurozone, slight falls in GDP are likely in the coming quarters, mainly due to the disruptions created by the war, including energy shortages. Annual growth in the region would be 2.7% in 2022 and 0.6% in 2023. In China, growth would reach 4.5% in 2022 and 5.2% in 2023, but the policy of zero tolerance with respect to COVID-19 could cause new mobility restrictions in the event of an eventual increase in coronavirus cases in the future, which poses a risk to economic growth.

The risks to this central scenario are significant and bias BBVA Research’s growth forecasts downwards. In particular, a greater persistence of inflation could trigger even more severe increases in interest rates, and therefore a deeper and more generalized recession as well as scenarios of volatility and financial crises.

In Spain, economic activity has exhibited some dynamism in the first half of the year, despite the war in Ukraine, which has, however, put pressure on energy and food prices, helping to increase inflation to 10.2% in June. According to BBVA Research, the GDP would increase 4.1% this year, 140 bp lower than the forecast in January 2022. Although GDP underperformed in the first quarter, recent data suggests positive dynamism in the second quarter. The expected rises in interest rates by the ECB and the global and regional slowdown will foreseeably cause an economic moderation and the 2023 GDP will grow around 1.8% according to BBVA Research. Inflation will remain high, well above the ECB’s 2% target, mainly in 2022 but also in 2023 (on average around 7.8% this year and 3.2% for the next).

In Mexico, economic growth has surprised to the upside at the beginning of 2022, mainly due to the good performance of domestic demand, which supports an upward revision of BBVA Research’s forecast for GDP growth this year to 2.0% (20 bps less than the forecast six months ago). In 2023 growth will likely moderate to 1.6% in line with the expected global economic slowdown and in an environment in which inflation will remain high (around 7.7% in 2022 and 5.2% in 2023, on average), possibly forcing BANXICO to raise interest rates above current levels of 7.75%.

In Turkey, despite the complex local and global macroeconomic environment, economic activity has surprised to the upside in the first half of the year. According to BBVA Research, the resilience of the activity could make 2022 growth be around 5.0%, above the forecast of 3.5% six months ago. The relative strength of demand, the high commodity prices, as well as the strong depreciation of the Turkish lira after the cuts in interest rates announced some months ago have contributed to an accumulated increase of 78.6% in domestic consumer prices over the twelve months ended June 2022. According to BBVA Research estimates, growth could moderate to 3.0%, thus reducing the high pressures on inflation and external accounts. However, the economic environment is highly unstable, given the combination of high inflation, very negative real interest rates and pressure on the Turkish lira and high external financing needs, as well as the current global context.

In Argentina, in a less favorable global context and given the problems to address the current macroeconomic distortions and meet the objectives established in the recent loan agreement with the International Monetary Fund, the volatility in the financial markets has increased significantly, particularly in the foreign exchange and local currency public debt markets. There is a high degree of uncertainty about the future evolution of economic policies, but the most likely, according to BBVA Research, is that inflation, which reached 60.7% in May, will increase further, and that GDP will grow around 2.5% in 2022 (below the 3.5% forecast from six months ago) and slow down (and even contract) in 2023.

In Colombia, economic activity, in general, and domestic demand, in particular have shown greater dynamism than expected in recent months, with growth in 2022 expected to reach 6.8%, well above the forecast of 4.0% by BBVA Research in January 2022. In addition, high inflation has contributed to the Banco de la República raising interest rates to 7.50% in June, from 1.75% in August 2021. BBVA Research estimates that, in a context where further interest rate hikes are likely, inflation will remain relatively high this year (9.1%, on average) and somehow less next year (5.9%, on average), and growth will converge to around 2.0% in 2023.

In Peru, activity indicators have surprised positively compared to expectations, in the first months of the year, in part due to the process of economic reopening after the easing of mobility restrictions due to the pandemic, the high level of private savings and fiscal stimulus measures. However, high inflation, tighter monetary conditions and the global economic slowdown will likely weigh negatively on growth going forward. Thus, BBVA Research expects growth to be around 2% in 2022, 30 bps less than the forecast six months ago, and 2.8% in 2023. Inflation is expected to remain very high in 2022 (around 7.4%, on average), but not as much in 2023 (about 4.8%, on average), in part due to the tightening of local monetary conditions.

BBVA Group results of operations for the six months ended June 30, 2022 compared to the six months ended June 30, 2021

The table below shows the Group’s unaudited condensed interim consolidated income statements for the six months ended June 30, 2022 and 2021.


	For the six months ended June 30,
	2022	2021	Change
	(In Millions of Euros)		(In %)
Interest and other income	13,403	10,962	22.3
Interest expense	(4,852)	(4,007)	21.1
Net interest income	8,551	6,955	22.9
Dividend income	76	125	(39.3)
Share of profit or loss of entities accounted for using the equity method	15	(5)	n.m. (1)
Fee and commission income	3,964	3,311	19.7
Fee and commission expense	(1,314)	(996)	31.9
Net gains (losses) on financial assets and liabilities (2)	379	878	(56.8)
Exchange differences, net	716	206	247.4
Other operating income	297	340	(12.9)
Other operating expense	(1,803)	(997)	80.9
Income on insurance and reinsurance contracts	1,537	1,350	13.8
Expense on insurance and reinsurance contracts	(908)	(909)	(0.2)
Gross income	11,509	10,259	12.2
Administration costs	(4,401)	(3,983)	10.5
Personnel expense	(2,587)	(2,371)	9.1
Other administrative expense	(1,815)	(1,612)	12.6
Depreciation and amortization	(652)	(615)	6.0
Net margin before provisions (3)	6,456	5,661	14.0
Provisions or reversal of provisions and other results	(112)	(928)	(87.9)
Impairment or reversal of impairment on financial assets not measured at fair value through profit or loss or net gains by modification	(1,441)	(1,580)	(8.8)
Impairment or reversal of impairment on non-financial assets	—	(196)	n.m. (1)
Gains (losses) on derecognition of non-financial assets and subsidiaries, net and Impairment or reversal of impairment of investments in joint ventures and associates	4	5	(27.4)
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)	(73)	63.7
Operating profit / (loss) before tax	4,787	2,889	65.7
Tax expense or income related to profit or loss from continuing operations	(1,668)	(782)	113.3
Profit / (loss) from continuing operations	3,119	2,107	48.0
Profit / (loss) from discontinued operations, net	—	280	n.m. (1)
Profit / (loss)	3,119	2,387	30.7
Profit / (loss) attributable to parent company	3,001	1,911	57.1
Profit / (loss) attributable to non-controlling interests	117	476	(75.3)

(1)Not meaningful.

(2)Comprises the following income statement line items contained in the Unaudited Condensed Interim Consolidated Financial Statements: “Gains (losses) on derecognition of financial assets and liabilities not measured at fair value through profit or loss, net”, “Gains (losses) on financial assets and liabilities held for trading, net”, “Gains (losses) on non-trading financial assets mandatorily at fair value through profit or loss, net”, “Gains (losses) on financial assets and liabilities designated at fair value through profit or loss, net” and “Gains (losses) from hedge accounting, net”.

(3)Calculated as “Gross income” less “Administration costs” and “Depreciation and amortization”.

The changes in our unaudited condensed interim consolidated income statements for the six months ended June 30, 2022 and 2021 were as follows:

Net interest income

Net interest income for the six months ended June 30, 2022 amounted to €8,551 million, a 22.9% increase compared with the €6,955 million recorded for the six months ended June 30, 2021, as a result of the following factors, set out by region:

•Mexico: there was a 32.9% increase, mainly as a result of a higher contribution from our loan portfolio as a result of an increase both in terms of volume and yield, a higher contribution from our securities portfolio and, to a lesser extent, the appreciation of the Mexican peso against the euro, partially offset by higher funding costs as a result of the increase in interest rates.

•Turkey: there was a 12.2% increase as a result mainly of the higher volume and yield of Turkish lira-denominated loans, partially offset by the depreciation of the Turkish lira against the euro.

•South America: there was a 39.3% increase, mainly as a result of an increase in the volume and yield of loans, in particular, in Argentina (retail and securities portfolio), Colombia (consumer and wholesale portfolios) and, to a lesser extent, Peru (consumer portfolios).

•Spain: there was a 0.1% increase.

Dividend income

Dividend income, which includes dividends on shares and equity instruments other than those from shares in entities accounted for using the equity method, for the six months ended June 30, 2022 amounted to €76 million, a 39.3% decrease compared with the €125 million recorded for the six months ended June 30, 2021, mainly as a result of lower dividend income in Spain, particularly in connection with the non-trading portfolio.

Share of profit or loss of entities accounted for using the equity method

Share of profit or loss of entities accounted for using the equity method for the six months ended June 30, 2022 amounted to income of €15 million, compared with the €5 million loss recorded for the six months ended June 30, 2021.

Fee and commission income

The table below provides a breakdown of fee and commission income for the six months ended June 30, 2022 and 2021:


	For the six months ended June 30,
	2022	2021	Change
	(In Millions of Euros)		(In %)
Bills receivables	13	11	20.1
Demand accounts	233	199	17.3
Credit and debit cards and POS	1,610	1,181	36.4
Checks	81	64	25.0
Transfers and other payment orders	389	305	27.4
Insurance product commissions	128	109	17.2
Loan commitments given	123	111	11.4
Other commitments and financial guarantees given	200	178	12.9
Asset management	610	607	0.5
Securities fees	131	169	(22.6)
Custody securities	91	78	17.3
Other fees and commissions	354	299	18.2
Fee and commission income	3,964	3,311	19.7

Fee and commission income increased by 19.7% to €3,964 million for the six months ended June 30, 2022 from the €3,311 million recorded for the six months ended June 30, 2021, primarily due to the increased volume of transactions by credit card customers in the main countries where the BBVA Group operates, in particular Mexico (as a result of increased fees in the retail portfolio), the appreciation of the Mexican peso against the euro, and higher banking and payment systems fees in all the geographies where the BBVA Group operates, partially offset by the depreciation of the Turkish lira and the Argentine peso against the euro.

Fee and commission expense

The breakdown of fee and commission expense for the six months ended June 30, 2022 and 2021 is as follows:


	For the six months ended June 30,
	2022	2021	Change
	(In Millions of Euros)		(In %)
Demand accounts	2	2	(1.1)
Credit and debit cards	851	612	39.1
Transfers and other payment orders	62	56	10.3
Commissions for selling insurance	33	25	28.7
Custody securities	48	25	91.8
Other fees and commissions	318	275	15.5
Fee and commission expense	1,314	996	31.9

Fee and commission expense increased by 31.9% to €1,314 million for the six months ended June 30, 2022 from the €996 million recorded for the six months ended June 30, 2021, primarily due to the increased volume of credit cards transactions in the main countries where the BBVA Group operates, in particular, in the retail portfolio in Mexico and the appreciation of the Mexican peso against the euro, partially offset by the depreciation of the Turkish lira and the Argentine peso against the euro.

Net gains (losses) on financial assets and liabilities

Net gains on financial assets and liabilities decreased by 56.8% to €379 million for the six months ended June 30, 2022 compared to the net gain of €878 million recorded for the six months ended June 30, 2021, mainly due to the negative impact of changes in exchange rates on certain foreign currency positions, the lower contribution from the industrial and financial portfolios and the depreciation of the Turkish lira and the Argentine peso against the euro, partially offset by the positive performance of the Global Markets unit in Turkey, Mexico and Spain and increased gains from loans to the Turkish government and its agencies.

The table below provides a breakdown of net gains (losses) on financial assets and liabilities for the six months ended June 30, 2022 and 2021:


	For the six months ended June 30,
	2022	2021	Change
	(In Millions of Euros)		(In %)
Gains (losses) on derecognition of financial assets and liabilities not measured at fair value through profit or loss, net	39	121	(67.4)
Financial assets at fair value through other comprehensive income	32	115	(72.3)
Financial assets at amortized cost	8	5	52.5
Other financial assets and liabilities	(1)	—	n.m. (1)
Gains (losses) on financial assets and liabilities held for trading, net	11	463	(97.6)

BBVA

BBVA Bilbao Vizcaya Argentaria SA