Company: BBVXF
Filing Date: 2025-02-21
Form Type: 20-F
Source: 0000842180-25-000010
Chunk: 169

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-21
Form: 20-F
Item: Item 5
Chunk 169
---
 or income related to profit or loss from continuing operations                                                                                      (313)                   (286)            9.3
Profit                                                                                                                                                          1,029                     903           14.0
Profit attributable to non-controlling interests                                                                                                                (394)                   (302)           30.5
Profit attributable to parent company                                                                                                                             635                     601            5.6
(1)Includes “Gains (losses) on derecognition of financial assets and liabilities not measured at fair value through profit or loss, net”, “Gains (losses) on financial assets and liabilities held for trading, net”, “Gains (losses) on non-trading financial assets mandatorily at fair value through profit or loss, net”, “Gains (losses) on financial assets and liabilities designated at fair value through profit or loss, net”, “Gains (losses) from hedge accounting, net” and “Exchange differences, net”.
(2)“Net margin before provisions” is calculated as “Gross income” less “Administration costs” and “Depreciation and amortization”.
In the year ended December 31, 2024, the Argentine peso depreciated by 16.8% against the euro (considering the period-end exchange rates used to convert income statement items for the years ended December 31, 2024 and 2023, respectively, pursuant to IAS 21). On the other hand, the Colombian peso appreciated by 6.2% against the euro in average terms, compared with the year ended December 31, 2023. The Peruvian sol remained practically unchanged against the euro in average terms, compared with the year ended December 31, 2023. Overall, changes in exchange rates resulted in a negative exchange rate effect on the consolidated income statement for the year ended December 31, 2024 and in the results of operations of the South America operating segment for such period expressed in euros. See “―Factors Affecting the Comparability of our Results of Operations and Financial Condition―Trends in Exchange Rates”.
As of and for the years ended December 31, 2024 and 2023, the Argentine and Venezuelan economies were considered to be hyperinflationary as defined by IAS 29 “Financial Reporting in Hyperinflationary Economies” (see “Presentation of Financial Information—Hyperinflationary Economies”).
Net interest income
Net interest income of this operating segment for