Company: BBVXF
Filing Date: 2025-02-21
Form Type: 20-F
Source: 0000842180-25-000010
Chunk: 153

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-21
Form: 20-F
Item: Item 5
Chunk 153
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266           31.2
Property, fixtures and materials                         520               440           18.3
Taxes other than income tax                              451               370           21.9
Surveillance and cash courier services                   234               214            9.5
Other expense                                          1,090               897           21.5
Other administrative expense                           4,375             3,773           16.0
Depreciation and amortization
Depreciation and amortization for the year ended December 31, 2023 was €1,403 million, a 5.6% increase compared with the €1,328 million recorded for the year ended December 31, 2022, mainly due to the increase in the depreciation expense related to IT equipment and right-of-use leased assets in Mexico and Turkey and the appreciation of the Mexican peso, partially offset by the decreases in the depreciation expense of right-of-use leased assets in Spain.
Provisions or reversal of provisions
Provisions or reversal of provisions for the year ended December 31, 2023 amounted to an expense of €373 million, a 28.3% increase compared with the €291 million expense recorded for the year ended December 31, 2022, mainly as a result of the increased provisions for pensions and other employee benefit commitments in Spain and Turkey, higher provisions for various purposes in Spain and South America, higher provisions for contingent risks and legal contingencies in Mexico and the provisions recorded in connection with the February 2023 earthquakes in Turkey, partially offset by the depreciation of the currencies of the main non-euro countries where the BBVA Group operates (excluding Mexico) and lower provisions for contingent risks and legal contingencies in Peru.
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 for the year ended December 31, 2023 was an expense of €4,428 million, a 31.1% increase compared with the €3,379 million expense recorded for the year ended December 31, 2022, mainly due to (i) higher Stage 3 entries in the retail loan portfolios (consumer and credit cards) in Mexico and in Spain, as a result, in part, of the high interest rate environment; (ii) higher credit impairment requirements in Stage 3 retail