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    <link:label id="lab_bbva_IssueOfCommonShares_label_en" xlink:label="lab_bbva_IssueOfCommonShares" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Issue of common shares</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_bbva_NetIncreaseDecreaseInFinancialAssetsAtAmortizedCost" xlink:href="K8MS7FD7N5Z2WQ51AZ71-2021-12-31.xsd#bbva_NetIncreaseDecreaseInFinancialAssetsAtAmortizedCost"/>
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    <link:label id="lab_bbva_TaxLiabilities_documentation_en" xlink:label="lab_bbva_TaxLiabilities" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Tax liabilities</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bbva_TaxLiabilities" xlink:to="lab_bbva_TaxLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_bbva_OtherComprehensiveIncomeDebtSecuritiesAtFairValueThroughOtherComprehensiveIncome_0c8f620d-969a-41f6-a4b6-3582c7282c1c_totalLabel_en" xlink:label="lab_bbva_OtherComprehensiveIncomeDebtSecuritiesAtFairValueThroughOtherComprehensiveIncome" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Debt securities at fair value through other comprehensive income</link:label>
    <link:label id="lab_bbva_OtherComprehensiveIncomeDebtSecuritiesAtFairValueThroughOtherComprehensiveIncome_label_en" xlink:label="lab_bbva_OtherComprehensiveIncomeDebtSecuritiesAtFairValueThroughOtherComprehensiveIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Other Comprehensive Income Debt securities at fair value through other comprehensive income</link:label>
    <link:label id="lab_bbva_OtherComprehensiveIncomeDebtSecuritiesAtFairValueThroughOtherComprehensiveIncome_documentation_en" xlink:label="lab_bbva_OtherComprehensiveIncomeDebtSecuritiesAtFairValueThroughOtherComprehensiveIncome" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Other Comprehensive Income Debt securities at fair value through other comprehensive income</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bbva_OtherComprehensiveIncomeDebtSecuritiesAtFairValueThroughOtherComprehensiveIncome" xlink:href="K8MS7FD7N5Z2WQ51AZ71-2021-12-31.xsd#bbva_OtherComprehensiveIncomeDebtSecuritiesAtFairValueThroughOtherComprehensiveIncome"/>
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    <link:label id="lab_bbva_NetIncreaseDecreaseInOperatingAssetsFromOperatingActivities_66aa82e4-27a3-41b9-bb43-4e65b35c0875_negatedTotalLabel_en" xlink:label="lab_bbva_NetIncreaseDecreaseInOperatingAssetsFromOperatingActivities" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Net increase decrease in operating assets from operating activities</link:label>
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    <link:label id="lab_bbva_NetIncreaseDecreaseInOperatingAssetsFromOperatingActivities_documentation_en" xlink:label="lab_bbva_NetIncreaseDecreaseInOperatingAssetsFromOperatingActivities" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Net increase decrease in operating assets from operating activities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bbva_NetIncreaseDecreaseInOperatingAssetsFromOperatingActivities" xlink:href="K8MS7FD7N5Z2WQ51AZ71-2021-12-31.xsd#bbva_NetIncreaseDecreaseInOperatingAssetsFromOperatingActivities"/>
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    <link:label id="lab_bbva_IssueOfPreferredShares_label_en" xlink:label="lab_bbva_IssueOfPreferredShares" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Issue of preferred shares</link:label>
    <link:label id="lab_bbva_IssueOfPreferredShares_documentation_en" xlink:label="lab_bbva_IssueOfPreferredShares" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Issue of preferred shares</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bbva_IssueOfPreferredShares" xlink:href="K8MS7FD7N5Z2WQ51AZ71-2021-12-31.xsd#bbva_IssueOfPreferredShares"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bbva_IssueOfPreferredShares" xlink:to="lab_bbva_IssueOfPreferredShares" xlink:type="arc" order="1"/>
    <link:label id="lab_bbva_TotalCashAndCashEquivalentsClassifiedAsNonCurrentAssetsAndDisposableGroupsClassifiedAsHeldForSaleInTheUnitedStates_label_en" xlink:label="lab_bbva_TotalCashAndCashEquivalentsClassifiedAsNonCurrentAssetsAndDisposableGroupsClassifiedAsHeldForSaleInTheUnitedStates" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Total cash and cash equivalents classified as non current assets and disposable groups classified as held for sale in the United States</link:label>
    <link:label id="lab_bbva_TotalCashAndCashEquivalentsClassifiedAsNonCurrentAssetsAndDisposableGroupsClassifiedAsHeldForSaleInTheUnitedStates_documentation_en" xlink:label="lab_bbva_TotalCashAndCashEquivalentsClassifiedAsNonCurrentAssetsAndDisposableGroupsClassifiedAsHeldForSaleInTheUnitedStates" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Total cash and cash equivalents classified as non current assets and disposable groups classified as held for sale in the United States</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bbva_TotalCashAndCashEquivalentsClassifiedAsNonCurrentAssetsAndDisposableGroupsClassifiedAsHeldForSaleInTheUnitedStates" xlink:href="K8MS7FD7N5Z2WQ51AZ71-2021-12-31.xsd#bbva_TotalCashAndCashEquivalentsClassifiedAsNonCurrentAssetsAndDisposableGroupsClassifiedAsHeldForSaleInTheUnitedStates"/>
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    <link:label id="lab_bbva_IncreaseDecreaseInOtherFinancialLiabilitiesDesignatedAtFairValueThroughProfitOrLoss_1ed55ec6-4de1-424a-bb6a-4b4e98e17354_negatedLabel_en" xlink:label="lab_bbva_IncreaseDecreaseInOtherFinancialLiabilitiesDesignatedAtFairValueThroughProfitOrLoss" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Increase decrease in other financial liabilities designated at fair value through profit or loss</link:label>
    <link:label id="lab_bbva_IncreaseDecreaseInOtherFinancialLiabilitiesDesignatedAtFairValueThroughProfitOrLoss_label_en" xlink:label="lab_bbva_IncreaseDecreaseInOtherFinancialLiabilitiesDesignatedAtFairValueThroughProfitOrLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Increase decrease in other financial liabilities designated at fair value through profit or loss</link:label>
    <link:label id="lab_bbva_IncreaseDecreaseInOtherFinancialLiabilitiesDesignatedAtFairValueThroughProfitOrLoss_documentation_en" xlink:label="lab_bbva_IncreaseDecreaseInOtherFinancialLiabilitiesDesignatedAtFairValueThroughProfitOrLoss" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Increase decrease in other financial liabilities designated at fair value through profit or loss</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bbva_IncreaseDecreaseInOtherFinancialLiabilitiesDesignatedAtFairValueThroughProfitOrLoss" xlink:href="K8MS7FD7N5Z2WQ51AZ71-2021-12-31.xsd#bbva_IncreaseDecreaseInOtherFinancialLiabilitiesDesignatedAtFairValueThroughProfitOrLoss"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bbva_IncreaseDecreaseInOtherFinancialLiabilitiesDesignatedAtFairValueThroughProfitOrLoss" xlink:to="lab_bbva_IncreaseDecreaseInOtherFinancialLiabilitiesDesignatedAtFairValueThroughProfitOrLoss" xlink:type="arc" order="1"/>
    <link:label id="lab_bbva_TaxAssets_ef9e877a-4556-459b-8ea3-8bf5a063b30a_totalLabel_en" xlink:label="lab_bbva_TaxAssets" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Tax assets</link:label>
    <link:label id="lab_bbva_TaxAssets_label_en" xlink:label="lab_bbva_TaxAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Tax assets</link:label>
    <link:label id="lab_bbva_TaxAssets_documentation_en" xlink:label="lab_bbva_TaxAssets" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Tax assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bbva_TaxAssets" xlink:href="K8MS7FD7N5Z2WQ51AZ71-2021-12-31.xsd#bbva_TaxAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bbva_TaxAssets" xlink:to="lab_bbva_TaxAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_bbva_NetIncreaseDecreaseInOtherFinancialAssetsDesignatedAtFairValueThroughProfitOrLoss_label_en" xlink:label="lab_bbva_NetIncreaseDecreaseInOtherFinancialAssetsDesignatedAtFairValueThroughProfitOrLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Net increase decrease in other financial assets designated at fair value through profit or loss</link:label>
    <link:label id="lab_bbva_NetIncreaseDecreaseInOtherFinancialAssetsDesignatedAtFairValueThroughProfitOrLoss_documentation_en" xlink:label="lab_bbva_NetIncreaseDecreaseInOtherFinancialAssetsDesignatedAtFairValueThroughProfitOrLoss" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Net increase decrease in other financial assets designated at fair value through profit or loss</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bbva_NetIncreaseDecreaseInOtherFinancialAssetsDesignatedAtFairValueThroughProfitOrLoss" xlink:href="K8MS7FD7N5Z2WQ51AZ71-2021-12-31.xsd#bbva_NetIncreaseDecreaseInOtherFinancialAssetsDesignatedAtFairValueThroughProfitOrLoss"/>
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    <link:label id="lab_bbva_OtherReclassicationsForeignCurrencyTranslation_label_en" xlink:label="lab_bbva_OtherReclassicationsForeignCurrencyTranslation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Other reclassications foreign currency translation</link:label>
    <link:label id="lab_bbva_OtherReclassicationsForeignCurrencyTranslation_documentation_en" xlink:label="lab_bbva_OtherReclassicationsForeignCurrencyTranslation" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Other reclassications foreign currency translation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bbva_OtherReclassicationsForeignCurrencyTranslation" xlink:href="K8MS7FD7N5Z2WQ51AZ71-2021-12-31.xsd#bbva_OtherReclassicationsForeignCurrencyTranslation"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bbva_OtherReclassicationsForeignCurrencyTranslation" xlink:to="lab_bbva_OtherReclassicationsForeignCurrencyTranslation" xlink:type="arc" order="1"/>
    <link:label id="lab_bbva_ValuationGainsLossesTakenToEquityNonCurrentAssetsHeldForSale_e83e132e-7fef-4826-9e9d-497f19d45e7b_negatedLabel_en" xlink:label="lab_bbva_ValuationGainsLossesTakenToEquityNonCurrentAssetsHeldForSale" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Valuation gains losses taken to equity non current assets held for sale</link:label>
    <link:label id="lab_bbva_ValuationGainsLossesTakenToEquityNonCurrentAssetsHeldForSale_label_en" xlink:label="lab_bbva_ValuationGainsLossesTakenToEquityNonCurrentAssetsHeldForSale" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Valuation gains losses taken to equity non current assets held for sale</link:label>
    <link:label id="lab_bbva_ValuationGainsLossesTakenToEquityNonCurrentAssetsHeldForSale_documentation_en" xlink:label="lab_bbva_ValuationGainsLossesTakenToEquityNonCurrentAssetsHeldForSale" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Valuation gains losses taken to equity non current assets held for sale</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bbva_ValuationGainsLossesTakenToEquityNonCurrentAssetsHeldForSale" xlink:href="K8MS7FD7N5Z2WQ51AZ71-2021-12-31.xsd#bbva_ValuationGainsLossesTakenToEquityNonCurrentAssetsHeldForSale"/>
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    <link:label id="lab_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossMandatorilyMeasuredAtFairValue_0fedb23f-8c91-43b2-afa2-d541c00f9d7e_totalLabel_en" xlink:label="lab_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossMandatorilyMeasuredAtFairValue" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Financial assets at fair value through profit or loss, mandatorily measured at fair value</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossMandatorilyMeasuredAtFairValue" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossMandatorilyMeasuredAtFairValue"/>
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    <link:label id="lab_bbva_ProvisionsOrReversalOfProvisions_dab226a3-3722-4422-8ab9-11bbc87a0b55_negatedLabel_en" xlink:label="lab_bbva_ProvisionsOrReversalOfProvisions" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Provisions or reversal of provisions</link:label>
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    <link:label id="lab_bbva_PaymentsFromFinancingActivities_54c806b3-e669-4e6f-bcdc-ced946a555c9_negatedTotalLabel_en" xlink:label="lab_bbva_PaymentsFromFinancingActivities" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Payments from financing activities</link:label>
    <link:label id="lab_bbva_PaymentsFromFinancingActivities_label_en" xlink:label="lab_bbva_PaymentsFromFinancingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Payments from financing activities</link:label>
    <link:label id="lab_bbva_PaymentsFromFinancingActivities_documentation_en" xlink:label="lab_bbva_PaymentsFromFinancingActivities" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Payments from financing activities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bbva_PaymentsFromFinancingActivities" xlink:href="K8MS7FD7N5Z2WQ51AZ71-2021-12-31.xsd#bbva_PaymentsFromFinancingActivities"/>
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    <link:label id="lab_bbva_CollectionsTreasurySharesDisposal_label_en" xlink:label="lab_bbva_CollectionsTreasurySharesDisposal" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Collections Treasury shares disposal</link:label>
    <link:label id="lab_bbva_CollectionsTreasurySharesDisposal_documentation_en" xlink:label="lab_bbva_CollectionsTreasurySharesDisposal" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Collections Treasury shares disposal</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bbva_CollectionsTreasurySharesDisposal" xlink:to="lab_bbva_CollectionsTreasurySharesDisposal" xlink:type="arc" order="1"/>
    <link:label id="lab_bbva_CollectionsFromFinancingActivities_b4ecfe4e-23a7-4b88-9e45-8cd7f0f778e9_totalLabel_en" xlink:label="lab_bbva_CollectionsFromFinancingActivities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Collections from financing activities</link:label>
    <link:label id="lab_bbva_CollectionsFromFinancingActivities_label_en" xlink:label="lab_bbva_CollectionsFromFinancingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Collections from financing activities</link:label>
    <link:label id="lab_bbva_CollectionsFromFinancingActivities_documentation_en" xlink:label="lab_bbva_CollectionsFromFinancingActivities" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Collections from financing activities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bbva_CollectionsFromFinancingActivities" xlink:href="K8MS7FD7N5Z2WQ51AZ71-2021-12-31.xsd#bbva_CollectionsFromFinancingActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bbva_CollectionsFromFinancingActivities" xlink:to="lab_bbva_CollectionsFromFinancingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_bbva_HedgingDerivativesCashFlowHedgesEffectivePortionthatMayBeReclassifiedToProfitOrLoss_label_en" xlink:label="lab_bbva_HedgingDerivativesCashFlowHedgesEffectivePortionthatMayBeReclassifiedToProfitOrLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Hedging derivatives cash flow hedges effective portionthat may be reclassified to profit or loss</link:label>
    <link:label id="lab_bbva_HedgingDerivativesCashFlowHedgesEffectivePortionthatMayBeReclassifiedToProfitOrLoss_documentation_en" xlink:label="lab_bbva_HedgingDerivativesCashFlowHedgesEffectivePortionthatMayBeReclassifiedToProfitOrLoss" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Hedging derivatives cash flow hedges effective portionthat may be reclassified to profit or loss</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bbva_HedgingDerivativesCashFlowHedgesEffectivePortionthatMayBeReclassifiedToProfitOrLoss" xlink:href="K8MS7FD7N5Z2WQ51AZ71-2021-12-31.xsd#bbva_HedgingDerivativesCashFlowHedgesEffectivePortionthatMayBeReclassifiedToProfitOrLoss"/>
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    <link:label id="lab_bbva_NonCurrentAssetsAndDisposalGroupsHeldForSaleThatWillBeReclassifiedToProfitOrLossNetOfTax_13373fda-f41a-495d-b7b1-9c6d0713bff9_negatedTotalLabel_en" xlink:label="lab_bbva_NonCurrentAssetsAndDisposalGroupsHeldForSaleThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Non current assets and disposal groups held for sale that will be reclassified to profit or loss net of tax</link:label>
    <link:label id="lab_bbva_NonCurrentAssetsAndDisposalGroupsHeldForSaleThatWillBeReclassifiedToProfitOrLossNetOfTax_label_en" xlink:label="lab_bbva_NonCurrentAssetsAndDisposalGroupsHeldForSaleThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Non current assets and disposal groups held for sale that will be reclassified to profit or loss net of tax</link:label>
    <link:label id="lab_bbva_NonCurrentAssetsAndDisposalGroupsHeldForSaleThatWillBeReclassifiedToProfitOrLossNetOfTax_documentation_en" xlink:label="lab_bbva_NonCurrentAssetsAndDisposalGroupsHeldForSaleThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Non current assets and disposal groups held for sale that will be reclassified to profit or loss net of tax</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bbva_NonCurrentAssetsAndDisposalGroupsHeldForSaleThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:href="K8MS7FD7N5Z2WQ51AZ71-2021-12-31.xsd#bbva_NonCurrentAssetsAndDisposalGroupsHeldForSaleThatWillBeReclassifiedToProfitOrLossNetOfTax"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bbva_NonCurrentAssetsAndDisposalGroupsHeldForSaleThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:to="lab_bbva_NonCurrentAssetsAndDisposalGroupsHeldForSaleThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:type="arc" order="1"/>
    <link:label id="lab_bbva_InterimDividendMember_label_en" xlink:label="lab_bbva_InterimDividendMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Interim dividend [Member]</link:label>
    <link:label id="lab_bbva_InterimDividendMember_documentation_en" xlink:label="lab_bbva_InterimDividendMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Interim dividend</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bbva_InterimDividendMember" xlink:href="K8MS7FD7N5Z2WQ51AZ71-2021-12-31.xsd#bbva_InterimDividendMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bbva_InterimDividendMember" xlink:to="lab_bbva_InterimDividendMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DerivativeFinancialAssetsHeldForTrading_10932dc8-f7ef-4a01-801f-0b047716a3c2_terseLabel_en" xlink:label="lab_ifrs-full_DerivativeFinancialAssetsHeldForTrading" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Derivative financial assets held for trading</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DerivativeFinancialAssetsHeldForTrading" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DerivativeFinancialAssetsHeldForTrading"/>
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    <link:label id="lab_bbva_EquityInstrumentsIssuedOtherThanCapital_label_en" xlink:label="lab_bbva_EquityInstrumentsIssuedOtherThanCapital" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Equity instruments issued other than capital</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_bbva_EquityInstrumentsIssuedOtherThanCapital" xlink:href="K8MS7FD7N5Z2WQ51AZ71-2021-12-31.xsd#bbva_EquityInstrumentsIssuedOtherThanCapital"/>
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    <link:label id="lab_ifrs-full_OtherAssets_ac415ca7-8c36-4407-b7ef-e72f21c37624_totalLabel_en" xlink:label="lab_ifrs-full_OtherAssets" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Other assets</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherAssets" xlink:to="lab_ifrs-full_OtherAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_bbva_DebtSecuritiesHeldForTrading_label_en" xlink:label="lab_bbva_DebtSecuritiesHeldForTrading" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Debt securities held for trading</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_bbva_DebtSecuritiesHeldForTrading" xlink:href="K8MS7FD7N5Z2WQ51AZ71-2021-12-31.xsd#bbva_DebtSecuritiesHeldForTrading"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bbva_DebtSecuritiesHeldForTrading" xlink:to="lab_bbva_DebtSecuritiesHeldForTrading" xlink:type="arc" order="1"/>
    <link:label id="lab_bbva_MemorandumItemSubordinatedLiabilitiesAtAmortisedCost_label_en" xlink:label="lab_bbva_MemorandumItemSubordinatedLiabilitiesAtAmortisedCost" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Memorandum item subordinated liabilities at amortised cost</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bbva_MemorandumItemSubordinatedLiabilitiesAtAmortisedCost" xlink:to="lab_bbva_MemorandumItemSubordinatedLiabilitiesAtAmortisedCost" xlink:type="arc" order="1"/>
    <link:label id="lab_bbva_DepositsFromCreditInstitutionsHeldForTrading_label_en" xlink:label="lab_bbva_DepositsFromCreditInstitutionsHeldForTrading" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Deposits from credit institutions held for trading</link:label>
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    <link:label id="lab_bbva_NetIncreaseDecreaseInNonTradingFinancialAssetsMandatorilyAtFairValueThroughProfitOrLoss_label_en" xlink:label="lab_bbva_NetIncreaseDecreaseInNonTradingFinancialAssetsMandatorilyAtFairValueThroughProfitOrLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Net increase decrease in non trading financial assets mandatorily at fair value through profit or loss</link:label>
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    <link:label id="lab_bbva_OtherCollectionsRelatedToInvestingActivities_label_en" xlink:label="lab_bbva_OtherCollectionsRelatedToInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Other collections related to investing activities</link:label>
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    <link:label id="lab_bbva_DepositsFromCentralBanksHeldForTrading_label_en" xlink:label="lab_bbva_DepositsFromCentralBanksHeldForTrading" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Deposits from central banks held for trading</link:label>
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    <link:label id="lab_bbva_ShareholdersEquity_0b6de0cb-51c7-487e-85c8-9c36fb63b446_totalLabel_en" xlink:label="lab_bbva_ShareholdersEquity" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Shareholders Equity</link:label>
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    <link:label id="lab_bbva_UnpaidCapitalWhichHasBeenCalledUp_label_en" xlink:label="lab_bbva_UnpaidCapitalWhichHasBeenCalledUp" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Unpaid capital which has been called up</link:label>
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    <link:label id="lab_bbva_EquityInstrumentsAtFairValueThroughProfitOrLossMandatorilyMeasuredAtFairValue_documentation_en" xlink:label="lab_bbva_EquityInstrumentsAtFairValueThroughProfitOrLossMandatorilyMeasuredAtFairValue" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Equity instruments at fair value through profit or loss mandatorily measured at fair value</link:label>
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    <link:label id="lab_bbva_ImpairmentOrReversalOfImpairmentOnNonFinancialAssets_documentation_en" xlink:label="lab_bbva_ImpairmentOrReversalOfImpairmentOnNonFinancialAssets" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Impairment or reversal of impairment on non financial assets</link:label>
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    <link:label id="lab_bbva_ProfitLossAttributableToOwnersOfParent_documentation_en" xlink:label="lab_bbva_ProfitLossAttributableToOwnersOfParent" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Profit Loss Attributable To Owners Of Parent</link:label>
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    <link:label id="lab_ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLoss_3b33f13d-0ab3-4082-82e4-733fc045dd43_negatedLabel_en" xlink:label="lab_ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLoss" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Income tax relating to components of other comprehensive income that will not be reclassified to profit or loss</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLoss" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLoss"/>
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    <link:label id="lab_ifrs-full_FeeAndCommissionExpense_ef5b8314-bd19-4438-95b7-5bbcce854308_negatedTerseLabel_en" xlink:label="lab_ifrs-full_FeeAndCommissionExpense" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Fee and commission expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_FeeAndCommissionExpense" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_FeeAndCommissionExpense"/>
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    <link:label id="lab_bbva_HedgeOfNetInvestmentsInForeignOperationsEffectivePortionThatMayBeReclassifiedToProfitOrLoss_label_en" xlink:label="lab_bbva_HedgeOfNetInvestmentsInForeignOperationsEffectivePortionThatMayBeReclassifiedToProfitOrLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Hedge of net investments in foreign operations effective portion that may be reclassified to profit or loss</link:label>
    <link:label id="lab_bbva_HedgeOfNetInvestmentsInForeignOperationsEffectivePortionThatMayBeReclassifiedToProfitOrLoss_documentation_en" xlink:label="lab_bbva_HedgeOfNetInvestmentsInForeignOperationsEffectivePortionThatMayBeReclassifiedToProfitOrLoss" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Hedge of net investments in foreign operations effective portion that may be reclassified to profit or loss</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bbva_HedgeOfNetInvestmentsInForeignOperationsEffectivePortionThatMayBeReclassifiedToProfitOrLoss" xlink:href="K8MS7FD7N5Z2WQ51AZ71-2021-12-31.xsd#bbva_HedgeOfNetInvestmentsInForeignOperationsEffectivePortionThatMayBeReclassifiedToProfitOrLoss"/>
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    <link:label id="lab_ifrs-full_GrossProfit_007061f1-662c-46f0-b8a6-641b4575726f_totalLabel_en" xlink:label="lab_ifrs-full_GrossProfit" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Gross profit</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_GrossProfit" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_GrossProfit"/>
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    <link:label id="lab_bbva_NonCurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleThatWillNotBeReclassifiedToProfitOrLoss_label_en" xlink:label="lab_bbva_NonCurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleThatWillNotBeReclassifiedToProfitOrLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Non current assets or disposal groups classified as held for sale that will not be reclassified to profit or loss</link:label>
    <link:label id="lab_bbva_NonCurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleThatWillNotBeReclassifiedToProfitOrLoss_documentation_en" xlink:label="lab_bbva_NonCurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleThatWillNotBeReclassifiedToProfitOrLoss" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Non current assets or disposal groups classified as held for sale that will not be reclassified to profit or loss</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bbva_NonCurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleThatWillNotBeReclassifiedToProfitOrLoss" xlink:href="K8MS7FD7N5Z2WQ51AZ71-2021-12-31.xsd#bbva_NonCurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleThatWillNotBeReclassifiedToProfitOrLoss"/>
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    <link:label id="lab_bbva_InterimDividend_label_en" xlink:label="lab_bbva_InterimDividend" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Interim dividend</link:label>
    <link:label id="lab_bbva_InterimDividend_documentation_en" xlink:label="lab_bbva_InterimDividend" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Interim dividend</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bbva_InterimDividend" xlink:href="K8MS7FD7N5Z2WQ51AZ71-2021-12-31.xsd#bbva_InterimDividend"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bbva_InterimDividend" xlink:to="lab_bbva_InterimDividend" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ProfitLoss_e8198248-55cd-4386-b15f-12708bda2f51_negatedLabel_en" xlink:label="lab_ifrs-full_ProfitLoss" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Profit (loss)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ProfitLoss" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ProfitLoss"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ProfitLoss" xlink:to="lab_ifrs-full_ProfitLoss" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_IncomeTaxesPaidRefundClassifiedAsOperatingActivities_063bb180-5bd7-48ca-91ff-c0d92df32f4e_negatedLabel_en" xlink:label="lab_ifrs-full_IncomeTaxesPaidRefundClassifiedAsOperatingActivities" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Income taxes paid (refund), classified as operating activities</link:label>
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    <link:label id="lab_ifrs-full_ExpenseArisingFromInsuranceContracts_acb381f5-2e5f-4252-9764-0af3d4ee3183_negatedTerseLabel_en" xlink:label="lab_ifrs-full_ExpenseArisingFromInsuranceContracts" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Expense arising from insurance contracts</link:label>
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    <link:label id="lab_bbva_LoansAndAdvancesToCentralBanksAtAmortisedCost_documentation_en" xlink:label="lab_bbva_LoansAndAdvancesToCentralBanksAtAmortisedCost" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Loans and advances to central banks at amortised cost</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bbva_LoansAndAdvancesToCentralBanksAtAmortisedCost" xlink:href="K8MS7FD7N5Z2WQ51AZ71-2021-12-31.xsd#bbva_LoansAndAdvancesToCentralBanksAtAmortisedCost"/>
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    <link:label id="lab_bbva_DebtSecuritiesAtFairValueThroughProfitOrLossMandatorilyMeasuredAtFairValue_label_en" xlink:label="lab_bbva_DebtSecuritiesAtFairValueThroughProfitOrLossMandatorilyMeasuredAtFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Debt securities at fair value through profit or loss mandatorily measured at fair value</link:label>
    <link:label id="lab_bbva_DebtSecuritiesAtFairValueThroughProfitOrLossMandatorilyMeasuredAtFairValue_documentation_en" xlink:label="lab_bbva_DebtSecuritiesAtFairValueThroughProfitOrLossMandatorilyMeasuredAtFairValue" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Debt securities at fair value through profit or loss mandatorily measured at fair value</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bbva_DebtSecuritiesAtFairValueThroughProfitOrLossMandatorilyMeasuredAtFairValue" xlink:href="K8MS7FD7N5Z2WQ51AZ71-2021-12-31.xsd#bbva_DebtSecuritiesAtFairValueThroughProfitOrLossMandatorilyMeasuredAtFairValue"/>
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    <link:label id="lab_bbva_InsuranceContractsLinkedToPensions_label_en" xlink:label="lab_bbva_InsuranceContractsLinkedToPensions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Insurance contracts linked to pensions</link:label>
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    <link:label id="lab_bbva_TangibleAssetsForOwnUse_label_en" xlink:label="lab_bbva_TangibleAssetsForOwnUse" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Tangible assets for own use</link:label>
    <link:label id="lab_bbva_TangibleAssetsForOwnUse_documentation_en" xlink:label="lab_bbva_TangibleAssetsForOwnUse" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Tangible assets for own use</link:label>
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    <link:label id="lab_bbva_AccumulatedOtherComprehensiveIncomeNonControllingInterestMember_label_en" xlink:label="lab_bbva_AccumulatedOtherComprehensiveIncomeNonControllingInterestMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Accumulated other comprehensive income non controlling interest [Member]</link:label>
    <link:label id="lab_bbva_AccumulatedOtherComprehensiveIncomeNonControllingInterestMember_documentation_en" xlink:label="lab_bbva_AccumulatedOtherComprehensiveIncomeNonControllingInterestMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Accumulated other comprehensive income non controlling interest</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bbva_AccumulatedOtherComprehensiveIncomeNonControllingInterestMember" xlink:href="K8MS7FD7N5Z2WQ51AZ71-2021-12-31.xsd#bbva_AccumulatedOtherComprehensiveIncomeNonControllingInterestMember"/>
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    <link:label id="lab_bbva_TangibleAssets_710a4b5c-8875-4c0f-ae11-55a9b28c589b_totalLabel_en" xlink:label="lab_bbva_TangibleAssets" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Tangible assets</link:label>
    <link:label id="lab_bbva_TangibleAssets_label_en" xlink:label="lab_bbva_TangibleAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Tangible assets</link:label>
    <link:label id="lab_bbva_TangibleAssets_documentation_en" xlink:label="lab_bbva_TangibleAssets" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Tangible assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bbva_TangibleAssets" xlink:href="K8MS7FD7N5Z2WQ51AZ71-2021-12-31.xsd#bbva_TangibleAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bbva_TangibleAssets" xlink:to="lab_bbva_TangibleAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ProfitLossAttributableToOwnersOfParent_f3f7b3c5-b7a1-4d83-bbc2-46e359bbd4ea_totalLabel_en" xlink:label="lab_ifrs-full_ProfitLossAttributableToOwnersOfParent" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Profit (loss), attributable to owners of parent</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ProfitLossAttributableToOwnersOfParent" xlink:to="lab_ifrs-full_ProfitLossAttributableToOwnersOfParent" xlink:type="arc" order="1"/>
    <link:label id="lab_bbva_OtherNonControllingInterestItemsMember_label_en" xlink:label="lab_bbva_OtherNonControllingInterestItemsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Other non controlling interest items [Member]</link:label>
    <link:label id="lab_bbva_OtherNonControllingInterestItemsMember_documentation_en" xlink:label="lab_bbva_OtherNonControllingInterestItemsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Other non controlling interest items</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bbva_OtherNonControllingInterestItemsMember" xlink:href="K8MS7FD7N5Z2WQ51AZ71-2021-12-31.xsd#bbva_OtherNonControllingInterestItemsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bbva_OtherNonControllingInterestItemsMember" xlink:to="lab_bbva_OtherNonControllingInterestItemsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bbva_CashAndCashEquivalentsIncludingBalanceOfCompaniesForSale_3b8e04ad-6bbe-4308-8d23-aba5e7249481_periodStartLabel_en" xlink:label="lab_bbva_CashAndCashEquivalentsIncludingBalanceOfCompaniesForSale" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Cash and cash equivalents including balance of companies for sale</link:label>
    <link:label id="lab_bbva_CashAndCashEquivalentsIncludingBalanceOfCompaniesForSale_ca2fa564-c20c-47a2-9996-2672dd450309_periodEndLabel_en" xlink:label="lab_bbva_CashAndCashEquivalentsIncludingBalanceOfCompaniesForSale" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Cash and cash equivalents including balance of companies for sale</link:label>
    <link:label id="lab_bbva_CashAndCashEquivalentsIncludingBalanceOfCompaniesForSale_label_en" xlink:label="lab_bbva_CashAndCashEquivalentsIncludingBalanceOfCompaniesForSale" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Cash and cash equivalents including balance of companies for sale</link:label>
    <link:label id="lab_bbva_CashAndCashEquivalentsIncludingBalanceOfCompaniesForSale_documentation_en" xlink:label="lab_bbva_CashAndCashEquivalentsIncludingBalanceOfCompaniesForSale" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Cash and cash equivalents including balance of companies for sale</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bbva_CashAndCashEquivalentsIncludingBalanceOfCompaniesForSale" xlink:href="K8MS7FD7N5Z2WQ51AZ71-2021-12-31.xsd#bbva_CashAndCashEquivalentsIncludingBalanceOfCompaniesForSale"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bbva_CashAndCashEquivalentsIncludingBalanceOfCompaniesForSale" xlink:to="lab_bbva_CashAndCashEquivalentsIncludingBalanceOfCompaniesForSale" xlink:type="arc" order="1"/>
    <link:label id="lab_bbva_ReservesOrAccumulatedLossesOfInvestmentsInSubsidiariesJointVenturesAndAssociates_label_en" xlink:label="lab_bbva_ReservesOrAccumulatedLossesOfInvestmentsInSubsidiariesJointVenturesAndAssociates" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Reserves or accumulated losses of investments in subsidiaries joint ventures and associates</link:label>
    <link:label id="lab_bbva_ReservesOrAccumulatedLossesOfInvestmentsInSubsidiariesJointVenturesAndAssociates_documentation_en" xlink:label="lab_bbva_ReservesOrAccumulatedLossesOfInvestmentsInSubsidiariesJointVenturesAndAssociates" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Reserves or accumulated losses of investments in subsidiaries joint ventures and associates</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bbva_ReservesOrAccumulatedLossesOfInvestmentsInSubsidiariesJointVenturesAndAssociates" xlink:href="K8MS7FD7N5Z2WQ51AZ71-2021-12-31.xsd#bbva_ReservesOrAccumulatedLossesOfInvestmentsInSubsidiariesJointVenturesAndAssociates"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bbva_ReservesOrAccumulatedLossesOfInvestmentsInSubsidiariesJointVenturesAndAssociates" xlink:to="lab_bbva_ReservesOrAccumulatedLossesOfInvestmentsInSubsidiariesJointVenturesAndAssociates" xlink:type="arc" order="1"/>
    <link:label id="lab_bbva_RestOfOtherAssets_label_en" xlink:label="lab_bbva_RestOfOtherAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Rest of other assets</link:label>
    <link:label id="lab_bbva_RestOfOtherAssets_documentation_en" xlink:label="lab_bbva_RestOfOtherAssets" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Rest of other assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bbva_RestOfOtherAssets" xlink:href="K8MS7FD7N5Z2WQ51AZ71-2021-12-31.xsd#bbva_RestOfOtherAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bbva_RestOfOtherAssets" xlink:to="lab_bbva_RestOfOtherAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_bbva_NegativeGoodwillRecognizedInProfitOrLoss_label_en" xlink:label="lab_bbva_NegativeGoodwillRecognizedInProfitOrLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Negative goodwill recognized in profit or loss</link:label>
    <link:label id="lab_bbva_NegativeGoodwillRecognizedInProfitOrLoss_documentation_en" xlink:label="lab_bbva_NegativeGoodwillRecognizedInProfitOrLoss" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Negative goodwill recognized in profit or loss</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bbva_NegativeGoodwillRecognizedInProfitOrLoss" xlink:href="K8MS7FD7N5Z2WQ51AZ71-2021-12-31.xsd#bbva_NegativeGoodwillRecognizedInProfitOrLoss"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bbva_NegativeGoodwillRecognizedInProfitOrLoss" xlink:to="lab_bbva_NegativeGoodwillRecognizedInProfitOrLoss" xlink:type="arc" order="1"/>
    <link:label id="lab_bbva_OtherReclassificationsOfNonCurrentAssetsHeldForSale_c1b2f736-41ae-4f1d-b6f9-34eb74848353_negatedLabel_en" xlink:label="lab_bbva_OtherReclassificationsOfNonCurrentAssetsHeldForSale" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Other reclassifications of non current assets held for sale</link:label>
    <link:label id="lab_bbva_OtherReclassificationsOfNonCurrentAssetsHeldForSale_label_en" xlink:label="lab_bbva_OtherReclassificationsOfNonCurrentAssetsHeldForSale" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Other reclassifications of non current assets held for sale</link:label>
    <link:label id="lab_bbva_OtherReclassificationsOfNonCurrentAssetsHeldForSale_documentation_en" xlink:label="lab_bbva_OtherReclassificationsOfNonCurrentAssetsHeldForSale" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Other reclassifications of non current assets held for sale</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bbva_OtherReclassificationsOfNonCurrentAssetsHeldForSale" xlink:href="K8MS7FD7N5Z2WQ51AZ71-2021-12-31.xsd#bbva_OtherReclassificationsOfNonCurrentAssetsHeldForSale"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bbva_OtherReclassificationsOfNonCurrentAssetsHeldForSale" xlink:to="lab_bbva_OtherReclassificationsOfNonCurrentAssetsHeldForSale" xlink:type="arc" order="1"/>
    <link:label id="lab_bbva_EquityInstrumentsIssuedOtherThanCapitalMember_label_en" xlink:label="lab_bbva_EquityInstrumentsIssuedOtherThanCapitalMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Equity instruments issued other than capital [Member]</link:label>
    <link:label id="lab_bbva_EquityInstrumentsIssuedOtherThanCapitalMember_documentation_en" xlink:label="lab_bbva_EquityInstrumentsIssuedOtherThanCapitalMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Equity instruments issued other than capital</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bbva_EquityInstrumentsIssuedOtherThanCapitalMember" xlink:href="K8MS7FD7N5Z2WQ51AZ71-2021-12-31.xsd#bbva_EquityInstrumentsIssuedOtherThanCapitalMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bbva_EquityInstrumentsIssuedOtherThanCapitalMember" xlink:to="lab_bbva_EquityInstrumentsIssuedOtherThanCapitalMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading_8b078cf9-8ebc-4a95-968d-594088e5e01c_totalLabel_en" xlink:label="lab_ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Financial liabilities at fair value through profit or loss that meet definition of held for trading</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading" xlink:to="lab_ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_InterestRevenueExpense_7afa1724-de73-4909-9389-2e30a7bbb621_totalLabel_en" xlink:label="lab_ifrs-full_InterestRevenueExpense" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Interest income or expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_InterestRevenueExpense" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_InterestRevenueExpense"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_InterestRevenueExpense" xlink:to="lab_ifrs-full_InterestRevenueExpense" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossDesignatedAsUponInitialRecognition_20757005-0823-49cd-b7cc-18d1f71ded7e_totalLabel_en" xlink:label="lab_ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossDesignatedAsUponInitialRecognition" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Financial liabilities at fair value through profit or loss, designated upon initial recognition or subsequently</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossDesignatedAsUponInitialRecognition" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossDesignatedAsUponInitialRecognition"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossDesignatedAsUponInitialRecognition" xlink:to="lab_ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossDesignatedAsUponInitialRecognition" xlink:type="arc" order="1"/>
    <link:label id="lab_bbva_Other_label_en" xlink:label="lab_bbva_Other" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Other</link:label>
    <link:label id="lab_bbva_Other_documentation_en" xlink:label="lab_bbva_Other" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Other</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bbva_Other" xlink:href="K8MS7FD7N5Z2WQ51AZ71-2021-12-31.xsd#bbva_Other"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bbva_Other" xlink:to="lab_bbva_Other" xlink:type="arc" order="1"/>
    <link:label id="lab_bbva_OtherLongTermEmployeeBenefits_label_en" xlink:label="lab_bbva_OtherLongTermEmployeeBenefits" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Other long term employee benefits</link:label>
    <link:label id="lab_bbva_OtherLongTermEmployeeBenefits_documentation_en" xlink:label="lab_bbva_OtherLongTermEmployeeBenefits" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Other long term employee benefits</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bbva_OtherLongTermEmployeeBenefits" xlink:href="K8MS7FD7N5Z2WQ51AZ71-2021-12-31.xsd#bbva_OtherLongTermEmployeeBenefits"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bbva_OtherLongTermEmployeeBenefits" xlink:to="lab_bbva_OtherLongTermEmployeeBenefits" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_RepaymentsOfSubordinatedLiabilities_f32ac04a-ae03-4551-9a88-ed6469dce93b_negatedTerseLabel_en" xlink:label="lab_ifrs-full_RepaymentsOfSubordinatedLiabilities" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Repayments of subordinated liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_RepaymentsOfSubordinatedLiabilities" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_RepaymentsOfSubordinatedLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_RepaymentsOfSubordinatedLiabilities" xlink:to="lab_ifrs-full_RepaymentsOfSubordinatedLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities_4e6dd403-59b0-46e7-a27a-166c2d621c91_negatedLabel_en" xlink:label="lab_ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Cash flows used in obtaining control of subsidiaries or other businesses, classified as investing activities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" xlink:to="lab_ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ProfitLossAttributableToNoncontrollingInterests_9f37f7d7-b90f-46df-9e61-4b33f5735c6d_negatedLabel_en" xlink:label="lab_ifrs-full_ProfitLossAttributableToNoncontrollingInterests" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Profit (loss), attributable to non-controlling interests</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ProfitLossAttributableToNoncontrollingInterests" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ProfitLossAttributableToNoncontrollingInterests"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ProfitLossAttributableToNoncontrollingInterests" xlink:to="lab_ifrs-full_ProfitLossAttributableToNoncontrollingInterests" xlink:type="arc" order="1"/>
    <link:label id="lab_bbva_InvestmentNonCurrentAssetsClassifiedAsHeldForSaleAndAssociatedLiabilites_9483c4ac-31e3-4cf4-a96f-31250fd1eb4c_negatedLabel_en" xlink:label="lab_bbva_InvestmentNonCurrentAssetsClassifiedAsHeldForSaleAndAssociatedLiabilites" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Investment non current assets classified as held for sale and associated liabilites</link:label>
    <link:label id="lab_bbva_InvestmentNonCurrentAssetsClassifiedAsHeldForSaleAndAssociatedLiabilites_label_en" xlink:label="lab_bbva_InvestmentNonCurrentAssetsClassifiedAsHeldForSaleAndAssociatedLiabilites" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Investment non current assets classified as held for sale and associated liabilites</link:label>
    <link:label id="lab_bbva_InvestmentNonCurrentAssetsClassifiedAsHeldForSaleAndAssociatedLiabilites_documentation_en" xlink:label="lab_bbva_InvestmentNonCurrentAssetsClassifiedAsHeldForSaleAndAssociatedLiabilites" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Investment non current assets classified as held for sale and associated liabilites</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bbva_InvestmentNonCurrentAssetsClassifiedAsHeldForSaleAndAssociatedLiabilites" xlink:href="K8MS7FD7N5Z2WQ51AZ71-2021-12-31.xsd#bbva_InvestmentNonCurrentAssetsClassifiedAsHeldForSaleAndAssociatedLiabilites"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bbva_InvestmentNonCurrentAssetsClassifiedAsHeldForSaleAndAssociatedLiabilites" xlink:to="lab_bbva_InvestmentNonCurrentAssetsClassifiedAsHeldForSaleAndAssociatedLiabilites" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_AccumulatedOtherComprehensiveIncome_2086a27e-f9a8-41d2-afbc-bd5191e49b42_totalLabel_en" xlink:label="lab_ifrs-full_AccumulatedOtherComprehensiveIncome" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Accumulated other comprehensive income</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_AccumulatedOtherComprehensiveIncome" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_AccumulatedOtherComprehensiveIncome"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AccumulatedOtherComprehensiveIncome" xlink:to="lab_ifrs-full_AccumulatedOtherComprehensiveIncome" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_InterestExpense_12bc8db0-7e75-4b08-b968-5c5276596deb_negatedTerseLabel_en" xlink:label="lab_ifrs-full_InterestExpense" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Interest expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_InterestExpense" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_InterestExpense"/>
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    <link:label id="lab_bbva_ForeignCurrencyTranslationThatMayBeReclassifiedToProfitOrLoss_documentation_en" xlink:label="lab_bbva_ForeignCurrencyTranslationThatMayBeReclassifiedToProfitOrLoss" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Foreign currency translation that may be reclassified to profit or loss</link:label>
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    <link:label id="lab_bbva_LoansAndAdvancesToCentralBanksHeldForTrading_label_en" xlink:label="lab_bbva_LoansAndAdvancesToCentralBanksHeldForTrading" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Loans and advances to central banks held for trading</link:label>
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    <link:label id="lab_ifrs-full_PurchaseOfTreasuryShares_5eb82cb2-e8d5-49b1-b46a-010e622d2768_negatedLabel_en" xlink:label="lab_ifrs-full_PurchaseOfTreasuryShares" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Purchase of treasury shares</link:label>
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    <link:label id="lab_bbva_LoansAndAdvancesToCustomersHeldForTrading_label_en" xlink:label="lab_bbva_LoansAndAdvancesToCustomersHeldForTrading" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Loans and advances to customers held for trading</link:label>
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    <link:label id="lab_bbva_HedgingInstrumentsNoDesignatedItemsThatMayBeReclassifiedToProfitOrLoss_label_en" xlink:label="lab_bbva_HedgingInstrumentsNoDesignatedItemsThatMayBeReclassifiedToProfitOrLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Hedging instruments no designated items that may be reclassified to profit or loss</link:label>
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