Company: BBVXF
Filing Date: 2025-02-21
Form Type: 20-F
Source: 0000842180-25-000010
Chunk: 141

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-21
Form: 20-F
Item: Item 5
Chunk 141
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 net                                         179               337         (46.8)
Gains (losses) on financial assets and liabilities designated at fair value through profit or loss, net                                      249                96          158.8
Gains (losses) from hedge accounting, net                                                                                                      5              (17)       n.m. (1)
Net gains (losses) on financial assets and liabilities                                                                                     3,218             1,844           74.5
(1)Not meaningful.
Exchange differences, net
Exchange differences increased to a €695 million gain for the year ended December 31, 2024 from a €339 million gain for the year ended December 31, 2023, mainly as a result of the positive exchange differences recognized in the Corporate Center, partially offset by the lower positive exchange differences in Turkey compared to 2023.
Other operating income and expense, net
Other operating income for the year ended December 31, 2024 increased by 0.7% to €623 million compared with the €619 million recorded for the year ended December 31, 2023.
Other operating expense for the year ended December 31, 2024 amounted to €3,951 million, a 2.3% decrease compared with the €4,042 million recorded for the year ended December 31, 2023, mainly driven by the lower aggregate expense attributable to the loss on the net monetary position resulting from the adjustment for hyperinflation in Turkey (€1,512 million in 2024 compared to €2,118 million in 2023) and the depreciation of the Mexican peso, the Turkish lira and the Argentine peso, partially offset by the higher loss on the net monetary position resulting from the adjustment for hyperinflation in Argentina (€1,419 million in 2024 compared to €1,062 million in 2023), the lower gain from the revaluation of bonds linked to inflation in Turkey (€1,164 million, compared to €1,202 million for the year ended December 31, 2023) and the higher expense recorded in connection with the temporary tax on credit institutions and financial credit establishments in Spain (totaling €285 million in the year ended December 31, 2024, compared to €215 million in the year ended December 31, 2023).
As of December 31, 2023, BBVA had satisfied in full the amount to be paid by it at a global level