Company: BBVXF
Filing Date: 2025-02-21
Form Type: 20-F
Source: 0000842180-25-000010
Chunk: 189

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-21
Form: 20-F
Item: Item 5
Chunk 189
---
6.49% for the year ended December 31, 2022.
Net fees and commissions
Net fees and commissions of this operating segment for the year ended December 31, 2023 amounted to €700 million, a 10.1% decrease compared with the €778 million recorded for the year ended December 31, 2022, mainly as a result of the depreciation of the currencies of the main countries where the BBVA Group operates within the region against the euro. At constant exchange rates, there was a 12.3% increase, mainly due to increases in payment systems-related fees (in particular, credit cards) in Argentina and, to a lesser extent, in Colombia.
141

Net gains (losses) on financial assets and liabilities and Exchange differences, net
Net gains on financial assets and liabilities and exchange differences of this operating segment for the year ended December 31, 2023 were €633 million, a 41.7% increase compared with the €447 million gain recorded for the year ended December 31, 2022, mainly due to the higher gains from the debt securities portfolio and, to a lesser extent, the ALCO portfolio in Argentina, partially offset by the negative exchange rate differences in Colombia and the depreciation of the currencies of the main countries where the BBVA Group operates within the region against the euro.
Other operating income and expense, net
Other operating income and expense, net of this operating segment for the year ended December 31, 2023 was a €1,491 million expense, a 26.2% increase compared with the €1,181 million expense recorded for the year ended December 31, 2022, mainly driven by the higher loss on the net monetary position resulting from the adjustment for hyperinflation in Argentina, which resulted in a monetary loss of €1,062 million in the year ended December 31, 2023, compared to the €822 million monetary loss recorded for the year ended December 31, 2022, partially offset by the depreciation of the currencies of the main countries where the BBVA Group operates within the region against the euro.
Income and expense on insurance and reinsurance contracts
Net income on insurance and reinsurance contracts of this operating segment for the year ended December 31, 2023 was €96 million, a 14.1% increase compared with the €84 million income recorded for the year ended December 31, 2022, mainly as a result of higher income related to life insurance