Company: BBVXF
Filing Date: 2025-02-21
Form Type: 20-F
Source: 0000842180-25-000010
Chunk: 45

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-21
Form: 20-F
Item: Item 4
Chunk 45
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 and foreign exchange swaps, and, to a lesser extent, debt issuances completed during 2024, which increased liquidity levels, partially offset by the credit gap widening (as deposits decreased while loans increased slightly) and the depreciation of the Mexican peso against the euro.
Financial assets at fair value of this operating segment (which includes the following portfolios: “Financial assets held for trading”, “Non-trading financial assets mandatorily at fair value through profit or loss”, “Financial assets designated at fair value through profit or loss” and “Financial assets at fair value through other comprehensive income”) as of December 31, 2024 amounted to €54,547 million, a 9.7% decrease from the €60,379 million recorded as of December 31, 2023, mainly due to the depreciation of the Mexican peso against the euro.
Financial assets at amortized cost of this operating segment as of December 31, 2024 amounted to €94,595 million, a 1.8% decrease compared with the €96,342 million recorded as of December 31, 2023. Within this heading, loans and advances to customers of this operating segment as of December 31, 2024 amounted to €88,725 million, a 0.7% increase compared with the €88,112 million recorded as of December 31, 2023, mainly attributable to the increase in wholesale loans (in particular, corporate banking, which are mostly referenced to variable interest rates), partially offset by the depreciation of the Mexican peso against the euro.
Financial liabilities held for trading and designated at fair value through profit or loss of this operating segment as of December 31, 2024 amounted to €30,885 million, an 8.4% increase compared with the €28,492 million recorded as of December 31, 2023, mainly as a result of the increase in deposits from central banks (through repurchase agreements) recorded under “Financial liabilities held for trading”, partially offset by the depreciation of the Mexican peso against the euro.
Customer deposits at amortized cost of this operating segment as of December 31, 2024 amounted to €84,949 million, an 8.2% decrease compared with the €92,564 million recorded as of December 31, 2023, mainly as a result of the depreciation of the Mexican peso against the euro and increased competition from other banks for remunerated deposits and, more generally, from neobanks, partially offset by increases in