Company: BBVXF
Filing Date: 2025-02-21
Form Type: 20-F
Source: 0000842180-25-000010
Chunk: 150

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-21
Form: 20-F
Item: Item 5
Chunk 150
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 operates (excluding Mexico).
107

The table below provides a breakdown of net gains (losses) on financial assets and liabilities for the years ended December 31, 2023 and 2022:

                                                                                                                                           Year ended December 31,               
2023                                                                                                                                                          2022         Change
                                                                                                                                            (In Millions of Euros)         (In %)
Gains (losses) on derecognition of financial assets and liabilities not measured at fair value through profit or loss, net                    76                64           18.7
Financial assets at fair value through other comprehensive income                                                                             42                58         (28.9)
Financial assets at amortized cost                                                                                                            41                 8       n.m. (1)
Other financial assets and liabilities                                                                                                       (7)               (3)          153.4
Gains (losses) on financial assets and liabilities held for trading, net                                                                   1,352               562          140.8
Gains (losses) on non-trading financial assets mandatorily at fair value through profit or loss, net                                         337              (67)       n.m. (1)
Gains (losses) on financial assets and liabilities designated at fair value through profit or loss, net                                       96               150         (36.0)
Gains (losses) from hedge accounting, net                                                                                                   (17)              (45)         (62.0)
Net gains (losses) on financial assets and liabilities                                                                                     1,844               663          178.0
(1)Not meaningful.
Gains on derecognition of financial assets and liabilities not measured at fair value through profit or loss increased by 18.7% to €76 million in the year ended December 31, 2023 from €64 million in the year ended December 31, 2022, mainly due to the increase in gains from debt securities in Turkey, partially offset by the depreciation of the currencies of the main non-euro countries where the BBVA Group operates (excluding Mexico).
Gains on financial assets and liabilities held for trading increased to €1,352 million in the year ended December 31, 2023 from €562 million in the year ended December 31, 2022, mainly as a result of the higher gains from the debt securities portfolios in South America and Turkey, higher sales in the Global Markets unit in Spain and Mexico, supported by the high-volatility environment, partially