Company: BBVXF
Filing Date: 2025-02-21
Form Type: 20-F
Source: 0000842180-25-000010
Chunk: 50

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-21
Form: 20-F
Item: Item 4
Chunk 50
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” (see “Presentation of Financial Information—Hyperinflationary Economies”.
Cash, cash balances at central banks and other demand deposits as of December 31, 2024 amounted to €8,906 million, a 35.2% increase compared with the €6,585 million recorded as of December 31, 2023, mainly due to increases in funding from deposits in Peru, Colombia and Argentina, partially offset by the depreciation of the Argentine peso and the Colombian peso against the euro.
Financial assets at fair value for 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 €10,884 million, a 3.6% increase compared with the €10,508 million recorded as of December 31, 2023, mainly due to the increase of debt securities in Argentina, partially offset by the decrease in the value of derivatives recorded under the “Financial assets held for trading” portfolio in Colombia and the depreciation of the Argentine peso and the Colombian peso against the euro.
Financial assets at amortized cost of this operating segment as of December 31, 2024 amounted to €49,983 million, an 12.3% increase compared with the €44,508 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 €46,846 million, a 13.7% increase compared with the €41,213 million recorded as of December 31, 2023, mainly as a result of the increase in commercial loans and, to a lesser extent, credit card loans in Argentina, partially offset by the depreciation of the Colombian peso and the Argentine 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 €2,060 million, a 37.4% decrease compared with the €3,289 million recorded as of December 31, 2023, mainly due to the decrease in the value of derivatives recorded under the “Financial liabilities held for trading” portfolio in Colombia, to a lesser extent, the depreciation of the Colombian peso against the euro and, to a much