Company: BBVXF
Filing Date: 2025-02-21
Form Type: 20-F
Source: 0000842180-25-000010
Chunk: 163

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-21
Form: 20-F
Item: Item 5
Chunk 163
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 modification
Impairment or reversal of impairment on financial assets not measured at fair value through profit or loss or net gains by modification of this operating segment for the year ended December 31, 2024 was a €3,098 million expense, a 24.0% increase compared with the €2,499 million expense recorded for the year ended December 31, 2023, mainly due to higher impairment entries in the retail loan portfolio (in particular, credit cards and consumer loans, which are loans that generally entail greater profitability but also carry a greater default risk), within a context of deteriorating macroeconomic conditions and forecast (see “—Factors Affecting the Comparability of our Results of Operations and Financial Condition—Macroeconomic and geopolitical conditions”). 
Provisions or reversal of provisions and other results
Provisions or reversal of provisions and other results of this operating segment for the year ended December 31, 2024 were a €69 million expense compared with the €25 million expense recorded for the year ended December 31, 2023, mainly due to the impairment of a guarantee on a leasing transaction.
Operating profit / (loss) before tax
As a result of the foregoing, operating profit before tax of this operating segment for the year ended December 31, 2024 was €7,522 million, a 2.6% increase compared with the €7,329 million of operating profit before tax recorded for the year ended December 31, 2023.
Tax expense or income related to profit or loss from continuing operations
Tax expense related to profit from continuing operations of this operating segment for the year ended December 31, 2024 was €2,074 million, a 3.2% increase compared with the €2,009 million expense recorded for the year ended December 31, 2023, mainly as a result of the higher operating profit before tax. The effective tax rate amounted to 27.6% of operating profit before tax for the year ended December 31, 2024, and 27.4% for the year ended December 31, 2023.
Profit attributable to parent company
As a result of the foregoing, profit attributable to parent company of this operating segment for the year ended December 31, 2024 amounted to €5,447 million, a 2.4% increase compared with the €5,319 million recorded for the year ended December 31, 2023.
TURKEY

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