Business Context and Reporting Period
Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A. (BBVA)
Filing Type: Form 6-K (Report of Foreign Issuer)
Date: October 30, 2025
Context: Notification of Inside Information regarding the execution of a temporary own share buyback program approved by the European Central Bank.
Key Financial Metrics
The filing does not provide standard financial performance metrics such as revenue, profit, cash flow, margins, or debt levels. The document focuses exclusively on capital structure management via a share buyback.
| Metric | Value |
|---|---|
| Maximum Cash Amount for Buyback | €993,000,000 |
| Maximum Number of Shares to Acquire | 555,385,663 |
| Purpose | Reduction of share capital by cancelling acquired shares |
Material Changes and Program Details
The primary material change is the initiation of a new share repurchase program. Key operational details include:
- Execution Period: Starts October 31, 2025; ends no later than February 18, 2026, or upon reaching the maximum cash/share limits.
- Exclusions: Execution is suspended on December 24 and 31, 2025.
- Trading Venues: Spanish Continuous Market, Cboe Europe, Turquoise Europe, and Aquis Exchange.
- Manager: Citigroup Global Markets Europe AG (external execution).
- Daily Targets: Specific daily purchase targets are set per venue (e.g., 1,046,867 shares on the Continuous Market), subject to market volume and price restrictions.
Guidance, Outlook, and Risks
Management Commentary: The program is executed in compliance with EU Market Abuse Regulation (MAR) and Delegated Regulation 2016/1052. The company reserves the right to temporarily suspend or end the program early based on market circumstances.
Risks and Contingencies:
- Disrupted Days: Purchases will not occur if there is significant market disruption, if the share price falls below par value for a substantial part of the session, or if trading volume is less than 2.5 times the daily target.
- Force Majeure: Execution may be halted due to force majeure events.
- Regulatory Limits: Purchases must adhere to price and volume limits established by EU regulations.
Investor Verification Checklist
- Verify the actual execution volume and average price of shares purchased in subsequent periodic communications.
- Monitor for any announcements regarding temporary suspension or early termination of the program.
- Confirm the impact of the share cancellation on the company's total share capital and earnings per share (EPS) once the program concludes.
- Check for any updates on the European Central Bank's clearance status if not already finalized.