Company: BBVXF
Filing Date: 2025-02-21
Form Type: 20-F
Source: 0000842180-25-000010
Chunk: 191

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-21
Form: 20-F
Item: Item 5
Chunk 191
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58 million expense, a 38.5% decrease compared with the €94 million expense recorded for the year ended December 31, 2022, attributable mainly to the depreciation of the currencies of the main countries where the BBVA Group operates within the region against the euro and lower provisions for contingent risks and legal contingencies in Peru, partially offset by higher provisions for various purposes in Colombia and Argentina.
Operating profit / (loss) before tax
As a result of the foregoing, operating profit before tax of this operating segment for the year ended December 31, 2023 was €1,189 million, a 17.1% decrease compared with the €1,434 million recorded for the year ended December 31, 2022. At constant exchange rates there was a 59.1% increase.
Tax expense or income related to profit or loss from continuing operations
Tax expense related to profit from continuing operations of this operating segment for the year ended December 31, 2023 was €286 million, a 17.7% decrease compared with the €347 million expense 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 and the lower operating profit before tax. At constant exchange rates there was an increase, mainly as a result of a reduction in deferred tax liabilities. The effective tax rate amounted to 24.1% of operating profit before tax for the year ended December 31, 2023 and 24.2% for the year ended December 31, 2022.
Profit attributable to non-controlling interests
Profit attributable to non-controlling interests of this operating segment for the year ended December 31, 2023 amounted to €302 million, a 13.5% decrease compared with the €349 million recorded for the year ended December 31, 2022, mainly due to the lower operating profit before tax. At constant exchange rates, there was a 46.7% increase.
Profit attributable to parent company
As a result of the foregoing, profit attributable to parent company of this operating segment for the year ended December 31, 2023 amounted to €601 million, an 18.5% decrease compared with the €738 million recorded for the year ended December 31, 2022. At constant exchange rates, there was a 40.5% increase.
REST OF BUSINESS

                                                                                                                                                              For the year ended December