Company: BBVXF
Filing Date: 2025-02-21
Form Type: 20-F
Source: 0000842180-25-000010
Chunk: 190

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-21
Form: 20-F
Item: Item 5
Chunk 190
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 in Colombia and Argentina, partially offset by the depreciation of the currencies of the main countries where the BBVA Group operates within the region against the euro.
Administration costs
Administration costs of this operating segment for the year ended December 31, 2023 amounted to €1,785 million, a 1.1% decrease compared with the €1,806 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 28.5% increase in administration costs, mainly due to increases in certain general expenses related to technology (affected by the high inflation) in Argentina and in personnel expenses, driven in part by salary increases in Argentina (driven by inflation).
Depreciation and amortization
Depreciation and amortization for the year ended December 31, 2023 was €165 million, a 2.8% decrease compared with the €170 million recorded for the year ended December 31, 2022, mainly due to 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 5.1% increase, as a result of the investment in computer software.
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 of this operating segment for the year ended December 31, 2023 was a €1,134 million expense, a 48.9% increase compared with the €762 million expense recorded for the year ended December 31, 2022, mainly as a result of higher credit impairment requirements in Stage 3 retail loans in Peru as a result of the expiration of the grace period granted under the Reactiva program in September 2023, and, to a lesser extent, additional credit impairment requirements in consumer loans in Stage 2 and Stage 3 in Colombia, within an inflationary environment and overall unfavorable macroeconomic conditions, partially offset by the depreciation of the currencies of the main countries where the BBVA Group operates within the region against the euro.
Provisions or reversal of provisions and other results
Provisions or reversal of provisions and other results of this operating segment for the year ended December 31, 2023 were a €