Company: BBVXF
Filing Date: 2025-02-21
Form Type: 20-F
Source: 0000842180-25-000010
Chunk: 143

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-21
Form: 20-F
Item: Item 5
Chunk 143
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                                                       Year ended December 31,               
2024                                                                      2023         Change
                                                        (In Millions of Euros)         (In %)
Technology and systems                                 1,732             1,512           14.5
Communications                                           261               219           19.6
Advertising                                              441               349           26.4
Property, fixtures and materials                         577               520           10.9
Taxes other than income tax                              481               451            6.6
Surveillance and cash courier services                   255               234            9.2
Other expense                                          1,253             1,090           15.0
Other administrative expense                           5,001             4,375           14.3
Depreciation and amortization
Depreciation and amortization for the year ended December 31, 2024 was €1,533 million, a 9.3% increase compared with the €1,403 million recorded for the year ended December 31, 2023, mainly due to the increase in the depreciation expense related to IT equipment especially, in Turkey and Argentina, partially offset by the depreciation of the Turkish lira and the Argentine peso against the euro.
Provisions or reversal of provisions
Provisions or reversal of provisions for the year ended December 31, 2024 amounted to an expense of €198 million, a 47.1% decrease compared with the €373 million expense recorded for the year ended December 31, 2023, mainly due to the impact, in 2023, of the provisions recorded in connection with the February 2023 earthquakes.
Impairment or reversal of impairment on financial assets not measured at fair value through profit or loss or net gains by modification
Impairment or reversal of impairment on financial assets not measured at fair value through profit or loss or net gains by modification for the year ended December 31, 2024 was an expense of €5,745 million, a 29.7% increase compared with the €4,428 million expense recorded for the year ended December 31, 2023, mainly due to the higher impairment entries in the retail loan portfolios in Mexico and Turkey and, to a lesser extent, in South America, as further explained in “—Results of Operations by Operating Segment”. In addition, the deterioration of macroeconomic conditions and forecast led to higher impairments in Mexico.
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The table below provides a