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    <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>
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    <link:label id="lab_bbva_GainsOrLossesOnDerecognitionOfFinancialAssetsAndLiabilitiesNotMeasuredAtFairValueThoughProfitOrLossNet_80b961ed-2e48-4a77-bd89-0038f90bbf00_totalLabel_en" xlink:label="lab_bbva_GainsOrLossesOnDerecognitionOfFinancialAssetsAndLiabilitiesNotMeasuredAtFairValueThoughProfitOrLossNet" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Gains or losses on derecognition of financial assets and liabilities not measured at fair value though profit or loss net</link:label>
    <link:label id="lab_bbva_GainsOrLossesOnDerecognitionOfFinancialAssetsAndLiabilitiesNotMeasuredAtFairValueThoughProfitOrLossNet_label_en" xlink:label="lab_bbva_GainsOrLossesOnDerecognitionOfFinancialAssetsAndLiabilitiesNotMeasuredAtFairValueThoughProfitOrLossNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Gains or losses on derecognition of financial assets and liabilities not measured at fair value though profit or loss net</link:label>
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    <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>
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    <link:label id="lab_ifrs-full_CashFlowsFromUsedInInvestingActivitiesContinuingOperations_c57edd2d-25d5-4712-b151-cd948632c20c_totalLabel_en" xlink:label="lab_ifrs-full_CashFlowsFromUsedInInvestingActivitiesContinuingOperations" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Cash flows from (used in) investing activities, continuing operations</link:label>
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    <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="K8MS7FD7N5Z2WQ51AZ71-2023-12-31.xsd#bbva_AccumulatedOtherComprehensiveIncomeNonControllingInterestMember"/>
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    <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="K8MS7FD7N5Z2WQ51AZ71-2023-12-31.xsd#bbva_OtherNonControllingInterestItemsMember"/>
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    <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>
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    <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>
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    <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>
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    <link:loc xlink:type="locator" xlink:label="loc_bbva_OtherLongTermEmployeeBenefits" xlink:href="K8MS7FD7N5Z2WQ51AZ71-2023-12-31.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_ExpenseArisingFromInsuranceContracts_e19efb80-f4d1-481a-894b-31faa7ae3bfe_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_ifrs-full_OtherAssets_27e3409d-556c-4ffa-9e8d-33232ab38309_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:label id="lab_bbva_ReclassificationOfFinancialAssetsFromFairValueThroughOtherComprehensiveIncomeToHeldForTrading_label_en" xlink:label="lab_bbva_ReclassificationOfFinancialAssetsFromFairValueThroughOtherComprehensiveIncomeToHeldForTrading" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Reclassification of financial assets from fair value through other comprehensive income to held for trading</link:label>
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    <link:label id="lab_bbva_ValuationGainsLossesTakenToEquityNonCurrentAssetsHeldForSale_acf45bd7-85f3-4c45-bb73-fc6278b398ec_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>
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    <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="K8MS7FD7N5Z2WQ51AZ71-2023-12-31.xsd#bbva_ValuationGainsLossesTakenToEquityNonCurrentAssetsHeldForSale"/>
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    <link:label id="lab_bbva_ProvisionsOrReversalOfProvisions_486b0286-ea49-4b52-a7cc-8528cd19a601_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>
    <link:label id="lab_bbva_ProvisionsOrReversalOfProvisions_label_en" xlink:label="lab_bbva_ProvisionsOrReversalOfProvisions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Provisions or reversal of provisions</link:label>
    <link:label id="lab_bbva_ProvisionsOrReversalOfProvisions_documentation_en" xlink:label="lab_bbva_ProvisionsOrReversalOfProvisions" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Provisions or reversal of provisions</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bbva_ProvisionsOrReversalOfProvisions" xlink:href="K8MS7FD7N5Z2WQ51AZ71-2023-12-31.xsd#bbva_ProvisionsOrReversalOfProvisions"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bbva_ProvisionsOrReversalOfProvisions" xlink:to="lab_bbva_ProvisionsOrReversalOfProvisions" xlink:type="arc" order="1"/>
    <link:label id="lab_bbva_AccumulatedOtherComprehensiveIncomeNonControllingInterest_label_en" xlink:label="lab_bbva_AccumulatedOtherComprehensiveIncomeNonControllingInterest" 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</link:label>
    <link:label id="lab_bbva_AccumulatedOtherComprehensiveIncomeNonControllingInterest_documentation_en" xlink:label="lab_bbva_AccumulatedOtherComprehensiveIncomeNonControllingInterest" 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_AccumulatedOtherComprehensiveIncomeNonControllingInterest" xlink:href="K8MS7FD7N5Z2WQ51AZ71-2023-12-31.xsd#bbva_AccumulatedOtherComprehensiveIncomeNonControllingInterest"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bbva_AccumulatedOtherComprehensiveIncomeNonControllingInterest" xlink:to="lab_bbva_AccumulatedOtherComprehensiveIncomeNonControllingInterest" xlink:type="arc" order="1"/>
    <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>
    <link:loc xlink:type="locator" xlink:label="loc_bbva_CollectionsTreasurySharesDisposal" xlink:href="K8MS7FD7N5Z2WQ51AZ71-2023-12-31.xsd#bbva_CollectionsTreasurySharesDisposal"/>
    <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_331f6c39-ed2d-40f2-a6f1-8238e666b8a4_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="K8MS7FD7N5Z2WQ51AZ71-2023-12-31.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_NonCurrentAssetsAndDisposalGroupsHeldForSaleThatWillBeReclassifiedToProfitOrLossNetOfTax_33ef3324-6e76-40f4-b484-d18c4d5853aa_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="K8MS7FD7N5Z2WQ51AZ71-2023-12-31.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_ifrs-full_RevenueFromInterest_fb8ffce6-1027-4c3a-abc6-cf0fede5acc9_totalLabel_en" xlink:label="lab_ifrs-full_RevenueFromInterest" 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</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_RevenueFromInterest" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_RevenueFromInterest"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_RevenueFromInterest" xlink:to="lab_ifrs-full_RevenueFromInterest" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CashFlowsFromUsedInFinancingActivitiesContinuingOperations_314f741e-6c8d-4455-aaba-5d4448b455a7_totalLabel_en" xlink:label="lab_ifrs-full_CashFlowsFromUsedInFinancingActivitiesContinuingOperations" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Cash flows from (used in) financing activities, continuing operations</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CashFlowsFromUsedInFinancingActivitiesContinuingOperations" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CashFlowsFromUsedInFinancingActivitiesContinuingOperations"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CashFlowsFromUsedInFinancingActivitiesContinuingOperations" xlink:to="lab_ifrs-full_CashFlowsFromUsedInFinancingActivitiesContinuingOperations" 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>
    <link:label id="lab_bbva_DebtSecuritiesHeldForTrading_documentation_en" xlink:label="lab_bbva_DebtSecuritiesHeldForTrading" 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 held for trading</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bbva_DebtSecuritiesHeldForTrading" xlink:href="K8MS7FD7N5Z2WQ51AZ71-2023-12-31.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_LoansAndAdvancesToCreditInstitutionsHeldForTrading_label_en" xlink:label="lab_bbva_LoansAndAdvancesToCreditInstitutionsHeldForTrading" 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 credit institutions held for trading</link:label>
    <link:label id="lab_bbva_LoansAndAdvancesToCreditInstitutionsHeldForTrading_documentation_en" xlink:label="lab_bbva_LoansAndAdvancesToCreditInstitutionsHeldForTrading" 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 credit institutions held for trading</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bbva_LoansAndAdvancesToCreditInstitutionsHeldForTrading" xlink:href="K8MS7FD7N5Z2WQ51AZ71-2023-12-31.xsd#bbva_LoansAndAdvancesToCreditInstitutionsHeldForTrading"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bbva_LoansAndAdvancesToCreditInstitutionsHeldForTrading" xlink:to="lab_bbva_LoansAndAdvancesToCreditInstitutionsHeldForTrading" 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>
    <link:label id="lab_bbva_DepositsFromCreditInstitutionsHeldForTrading_documentation_en" xlink:label="lab_bbva_DepositsFromCreditInstitutionsHeldForTrading" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Deposits from credit institutions held for trading</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bbva_DepositsFromCreditInstitutionsHeldForTrading" xlink:href="K8MS7FD7N5Z2WQ51AZ71-2023-12-31.xsd#bbva_DepositsFromCreditInstitutionsHeldForTrading"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bbva_DepositsFromCreditInstitutionsHeldForTrading" xlink:to="lab_bbva_DepositsFromCreditInstitutionsHeldForTrading" xlink:type="arc" order="1"/>
    <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>
    <link:label id="lab_bbva_NetIncreaseDecreaseInNonTradingFinancialAssetsMandatorilyAtFairValueThroughProfitOrLoss_documentation_en" xlink:label="lab_bbva_NetIncreaseDecreaseInNonTradingFinancialAssetsMandatorilyAtFairValueThroughProfitOrLoss" 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 non trading financial assets mandatorily at fair value through profit or loss</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bbva_NetIncreaseDecreaseInNonTradingFinancialAssetsMandatorilyAtFairValueThroughProfitOrLoss" xlink:href="K8MS7FD7N5Z2WQ51AZ71-2023-12-31.xsd#bbva_NetIncreaseDecreaseInNonTradingFinancialAssetsMandatorilyAtFairValueThroughProfitOrLoss"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bbva_NetIncreaseDecreaseInNonTradingFinancialAssetsMandatorilyAtFairValueThroughProfitOrLoss" xlink:to="lab_bbva_NetIncreaseDecreaseInNonTradingFinancialAssetsMandatorilyAtFairValueThroughProfitOrLoss" xlink:type="arc" order="1"/>
    <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>
    <link:label id="lab_bbva_OtherCollectionsRelatedToInvestingActivities_documentation_en" xlink:label="lab_bbva_OtherCollectionsRelatedToInvestingActivities" 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 collections related to investing activities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bbva_OtherCollectionsRelatedToInvestingActivities" xlink:href="K8MS7FD7N5Z2WQ51AZ71-2023-12-31.xsd#bbva_OtherCollectionsRelatedToInvestingActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bbva_OtherCollectionsRelatedToInvestingActivities" xlink:to="lab_bbva_OtherCollectionsRelatedToInvestingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_bbva_TreasuryStockAcquisitionsFromFinancingActivities_2cc786a9-7506-455a-ad32-1fbf5d9729d6_negatedLabel_en" xlink:label="lab_bbva_TreasuryStockAcquisitionsFromFinancingActivities" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Treasury stock acquisitions from financing activities</link:label>
    <link:label id="lab_bbva_TreasuryStockAcquisitionsFromFinancingActivities_label_en" xlink:label="lab_bbva_TreasuryStockAcquisitionsFromFinancingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Treasury stock acquisitions from financing activities</link:label>
    <link:label id="lab_bbva_TreasuryStockAcquisitionsFromFinancingActivities_documentation_en" xlink:label="lab_bbva_TreasuryStockAcquisitionsFromFinancingActivities" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Treasury stock acquisitions from financing activities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bbva_TreasuryStockAcquisitionsFromFinancingActivities" xlink:href="K8MS7FD7N5Z2WQ51AZ71-2023-12-31.xsd#bbva_TreasuryStockAcquisitionsFromFinancingActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bbva_TreasuryStockAcquisitionsFromFinancingActivities" xlink:to="lab_bbva_TreasuryStockAcquisitionsFromFinancingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_bbva_EquityInstrumentsHeldForTrading_label_en" xlink:label="lab_bbva_EquityInstrumentsHeldForTrading" 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 held for trading</link:label>
    <link:label id="lab_bbva_EquityInstrumentsHeldForTrading_documentation_en" xlink:label="lab_bbva_EquityInstrumentsHeldForTrading" 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 held for trading</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bbva_EquityInstrumentsHeldForTrading" xlink:href="K8MS7FD7N5Z2WQ51AZ71-2023-12-31.xsd#bbva_EquityInstrumentsHeldForTrading"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bbva_EquityInstrumentsHeldForTrading" xlink:to="lab_bbva_EquityInstrumentsHeldForTrading" xlink:type="arc" order="1"/>
    <link:label id="lab_bbva_MemorandumOtherCommitmentsGiven_label_en" xlink:label="lab_bbva_MemorandumOtherCommitmentsGiven" 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 other commitments given</link:label>
    <link:label id="lab_bbva_MemorandumOtherCommitmentsGiven_documentation_en" xlink:label="lab_bbva_MemorandumOtherCommitmentsGiven" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Memorandum other commitments given</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bbva_MemorandumOtherCommitmentsGiven" xlink:href="K8MS7FD7N5Z2WQ51AZ71-2023-12-31.xsd#bbva_MemorandumOtherCommitmentsGiven"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bbva_MemorandumOtherCommitmentsGiven" xlink:to="lab_bbva_MemorandumOtherCommitmentsGiven" xlink:type="arc" order="1"/>
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    <link:label id="lab_bbva_GainsOrLossesOnFinancialAssetsAndLiabilitiesHeldForTradingNet_e3a0fc4f-c2cc-4470-a55d-250b8a4fee1b_totalLabel_en" xlink:label="lab_bbva_GainsOrLossesOnFinancialAssetsAndLiabilitiesHeldForTradingNet" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Gains or losses on financial assets and liabilities held for trading net</link:label>
    <link:label id="lab_bbva_GainsOrLossesOnFinancialAssetsAndLiabilitiesHeldForTradingNet_label_en" xlink:label="lab_bbva_GainsOrLossesOnFinancialAssetsAndLiabilitiesHeldForTradingNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Gains or losses on financial assets and liabilities held for trading net</link:label>
    <link:label id="lab_bbva_GainsOrLossesOnFinancialAssetsAndLiabilitiesHeldForTradingNet_documentation_en" xlink:label="lab_bbva_GainsOrLossesOnFinancialAssetsAndLiabilitiesHeldForTradingNet" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Gains or losses on financial assets and liabilities held for trading net</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bbva_GainsOrLossesOnFinancialAssetsAndLiabilitiesHeldForTradingNet" xlink:href="K8MS7FD7N5Z2WQ51AZ71-2023-12-31.xsd#bbva_GainsOrLossesOnFinancialAssetsAndLiabilitiesHeldForTradingNet"/>
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    <link:label id="lab_bbva_ImpairmentOrReversalOfImpairmentOnNonFinancialAssets_fb3f0cfe-b139-4f15-9da5-dea558033cca_negatedTotalLabel_en" xlink:label="lab_bbva_ImpairmentOrReversalOfImpairmentOnNonFinancialAssets" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" 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>
    <link:label id="lab_bbva_ImpairmentOrReversalOfImpairmentOnNonFinancialAssets_label_en" xlink:label="lab_bbva_ImpairmentOrReversalOfImpairmentOnNonFinancialAssets" xlink:role="http://www.xbrl.org/2003/role/label" 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>
    <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>
    <link:loc xlink:type="locator" xlink:label="loc_bbva_ImpairmentOrReversalOfImpairmentOnNonFinancialAssets" xlink:href="K8MS7FD7N5Z2WQ51AZ71-2023-12-31.xsd#bbva_ImpairmentOrReversalOfImpairmentOnNonFinancialAssets"/>
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    <link:label id="lab_bbva_DepositsFromCentralBanksAtFairValueThroughProfitOrLossDesignatedUponInitialRecognitionOrSubsequently_label_en" xlink:label="lab_bbva_DepositsFromCentralBanksAtFairValueThroughProfitOrLossDesignatedUponInitialRecognitionOrSubsequently" 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 at fair value through profit or loss, designated upon initial recognition or subsequently</link:label>
    <link:label id="lab_bbva_DepositsFromCentralBanksAtFairValueThroughProfitOrLossDesignatedUponInitialRecognitionOrSubsequently_documentation_en" xlink:label="lab_bbva_DepositsFromCentralBanksAtFairValueThroughProfitOrLossDesignatedUponInitialRecognitionOrSubsequently" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">Deposits from central banks at fair value through profit or loss, designated upon initial recognition or subsequently</link:label>
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    <link:label id="lab_bbva_IncreaseDecreaseInFinancialLiabilitiesAtAmortizedCost_label_en" xlink:label="lab_bbva_IncreaseDecreaseInFinancialLiabilitiesAtAmortizedCost" 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 financial liabilities at amortized cost</link:label>
    <link:label id="lab_bbva_IncreaseDecreaseInFinancialLiabilitiesAtAmortizedCost_documentation_en" xlink:label="lab_bbva_IncreaseDecreaseInFinancialLiabilitiesAtAmortizedCost" 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 financial liabilities at amortized cost</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bbva_IncreaseDecreaseInFinancialLiabilitiesAtAmortizedCost" xlink:href="K8MS7FD7N5Z2WQ51AZ71-2023-12-31.xsd#bbva_IncreaseDecreaseInFinancialLiabilitiesAtAmortizedCost"/>
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    <link:label id="lab_bbva_ORIDebtSecuritiesAtFairValueThroughOtherComprehensiveIncome_fea1227b-bd09-4018-82bc-ad64c6b516b1_totalLabel_en" xlink:label="lab_bbva_ORIDebtSecuritiesAtFairValueThroughOtherComprehensiveIncome" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">ORI Debt securities at fair value through other comprehensive income</link:label>
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    <link:label id="lab_bbva_ORIDebtSecuritiesAtFairValueThroughOtherComprehensiveIncome_documentation_en" xlink:label="lab_bbva_ORIDebtSecuritiesAtFairValueThroughOtherComprehensiveIncome" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en">ORI Debt securities at fair value through other comprehensive income</link:label>
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    <link:label id="lab_bbva_TangibleAssets_02567547-7e1e-46b0-ae04-cd1f3c7235f2_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>
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    <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="K8MS7FD7N5Z2WQ51AZ71-2023-12-31.xsd#bbva_RestOfOtherAssets"/>
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    <link:label id="lab_bbva_OtherReclassificationsOfNonCurrentAssetsHeldForSale_a274df63-3add-4d1e-b6d9-884bd5b824c0_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>
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    <link:label id="lab_ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading_2326a853-cf78-4cae-b1c6-0a02b5b1c171_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>
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    <link:label id="lab_ifrs-full_GrossProfit_33b87d8f-e757-4378-bf73-90fcbe32ccb1_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>
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