Company: BBVXF
Filing Date: 2025-02-21
Form Type: 20-F
Source: 0000842180-25-000010
Chunk: 193

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-21
Form: 20-F
Item: Item 5
Chunk 193
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 million recorded for the year ended December 31, 2022, mainly due to higher personnel expense in Europe and in the New York branch, as a result in part of the better performance of the Global Markets unit.
Depreciation and amortization
Depreciation and amortization for the year ended December 31, 2023 was €26 million, compared with the €23 million recorded for the year ended December 31, 2022.
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 of this operating segment for the year ended December 31, 2023 was a €28 million expense, compared with the €13 million expense recorded for the year ended December 31, 2022, mainly as a result of higher credit impairments in the retail portfolio in Portugal.
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, 2023 were a €1 million expense compared with the €14 million income recorded for the year ended December 31, 2022. Provisions or reversal of provisions and other results of this operating segment for the year ended December 31, 2022 included the reversal of provisions of contingent risks related to the New York branch. 
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, 2023 was €489 million, a 76.5% increase compared with the €277 million recorded for the year ended December 31, 2022.
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, 2023 was €93 million, compared with the €37 million expense recorded for the year ended December 31, 2022 due, in part, to the increase in operating profit.
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, 2023 amounted to €396 million, a 65.4% increase compared with the €240 million recorded for the year ended December 31, 2022.
CORPORATE CENTER

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