BBVA Files Form 6-K for May 2024 Reporting

TL;DR

BBVA filed its monthly 6-K report with the SEC on May 1st, keeping investors updated.

AI Summary

Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) filed a Form 6-K on May 1, 2024, reporting for the month of May 2024. The filing is a report of a foreign issuer pursuant to Rule 13a-16 or 15d-16 under the Securities Exchange Act of 1934. BBVA is a commercial bank based in Madrid, Spain.

Why It Matters

This filing indicates ongoing reporting obligations for BBVA, a significant international financial institution, to the SEC, providing transparency to investors.

Risk Assessment

Risk Level: low — This is a routine periodic filing by a large, established financial institution and does not contain specific material events or financial disclosures that would indicate elevated risk.

Key Players & Entities

• BANCO BILBAO VIZCAYA ARGENTARIA, S.A. (company) — Registrant
• BBVA (company) — Commonly known name for the Registrant
• Madrid, Spain (location) — Principal executive offices and mailing address
• 0001193125-24-126760 (filing_id) — Accession Number for this filing
• May 1, 2024 (date) — Filing date and period of report

FAQ

Filing Documents

• d799859d6k.htm (6-K) — 47KB
• g799859g0501174519893.jpg (GRAPHIC) — 4KB
• 0001193125-24-126760.txt ( ) — 54KB

From the Filing

6-K 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 month of May, 2024 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 Registrants 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 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): YesNo 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): YesNo Banco Bilbao Vizcaya Argentaria, S.A. ( BBVA ), in compliance with the Securities Market legislation, hereby proceeds to notify the following: INSIDE INFORMATION Further to the Inside Information notice reported yesterday with registration number 2226, BBVA hereby notifies the letter submitted to the Board of Directors of Banco de Sabadell, S.A., with an indicative proposal of a combination of the respective groups through a merger transaction. Likewise, BBVA notifies the press release related to said proposal. Madrid, May 1 2024 STRICTLY CONFIDENTIAL 1 April 30, 2024 To the Board of Directors of Banco de Sabadell, S.A. ( Banco Sabadell ) Dear Sirs, On behalf of the Board of Directors of Banco Bilbao Vizcaya Argentaria, S.A. ( BBVA ) I am pleased to submit this letter with our indicative corporate transaction proposal for a combination of our respective groups for the benefit of both entities, their shareholders, their employees, their customers and the communities in which we operate, through a merger transaction between Banco Sabadell and BBVA (see terms in Annex). The combination of the two entities would result in to the most attractive industrial project in European banking, creating one of the European leaders with greatest capacity to support society in its process of transformation, innovation and decarbonisation of the economy: The combined entity would become one of the largest and strongest financial institutions in Europe, with total assets in excess of 1 trillion and more than 100 million customers globally, with the ambition to be the largest bank by market capitalisation in the euro area. The larger scale would enable it to better address the structural challenges of the sector and reach more customers, while efficiently addressing investments in digital transformation. The combined entity would be stronger and more efficient, and a benchmark in the market in terms of assets, loans and deposits. We would be a better provider of the flow of credit to households and businesses of all sizes. The improved efficiency would make the combined entity more competitive and profitable, with growing results in the coming years despite a macroeconomic context with prospects of lower interest rates and a foreseeable slower growth in lending in Europe. The higher profitability of the combined entity would strengthen the capital position and would lead to attractive shareholder distributions. Both entities have a strong strategic fit, with complementary business models. Banco Sabadell is the benchmark in Spain in the small and medium enterprises segment and, like BBVA, has a clear leadership in digitalisation and sustainability. In addition, its presence in the UK would add to BBVAs global scale and its leadership in Mexico, Turkey and South America. For all these reasons, the merged entity would be the best financial partner for families and companies, with a better range of products and customer coverage, and a greater ability to support companies in their international expansion. The creation of a stronger and more profitable entity would incrementally contribute to the economic and social development of the communities in which it is present through an increased capacity to provide credit to families and businesses. It would also result in greater contribution through taxes and in a growing and attractive remuneration for shareholders. The combination aims to build on the successes achieved and preserve the best talent and culture of both entities: An integration committee would be set up with representatives from both organisations with the aim of designing, in full compliance with competition law, the best integration process, seeking to maximise the existing talent in both entities. In the integration of the workforces, the principles of professional competence and merit would be respected in all cases, without the adoption of traumatic measures or those that especially affect employees of one of the two entities. The management team of the r

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