Company: BBVXF
Filing Date: 2025-02-21
Form Type: 20-F
Source: 0000842180-25-000010
Chunk: 40

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-21
Form: 20-F
Item: Item 4
Chunk 40
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 activities were reallocated between the Corporate Center and the corresponding operating segments. In order to make the segment information as of and for the years ended December 31, 2023 and 2022 comparable with the segment information as of and for the year ended December 31, 2024, segment information as of and for the years ended December 31, 2023 and 2022 has been revised in conformity with these intra-group adjustments. These intra-group adjustments had no impact at the consolidated level.
In addition, with the entry into force of IFRS 17, the balance sheet as of December 31, 2022 and the income statement for the year ended December 31, 2022 of the operating segments of the BBVA Group were restated (see “Presentation of Financial Information—Changes in Accounting Policies—IFRS 17 – Insurance contracts” herein).
The breakdown of the Group’s total assets by each of BBVA’s operating segments and the Corporate Center as of December 31, 2024, 2023 and 2022 was as follows:

                                                                     As of December 31,
2024                                                                2023           2022
                                                                 (In Millions of Euros)
Spain                                             417,752        457,573        427,049
Mexico                                            168,470        173,489        142,557
Turkey                                             82,782         68,329         66,036
South America                                      73,997         64,779         61,951
Rest of Business                                   66,534         64,274         49,952
Subtotal Assets by Operating Segment              809,536        828,445        747,545
Corporate Center and Adjustments (1)             (37,134)       (52,886)       (35,453)
Total Assets BBVA Group                           772,402        775,558        712,092
(1)Includes balance sheet intra-group adjustments between the Corporate Center and the operating segments (see “Presentation of Financial Information—Changes in Intra-Group Adjustments” for information on such adjustments).
The following table sets forth information relating to the profit (loss) attributable to parent company for each of BBVA’s operating segments and the Corporate Center for the years ended December 31, 2024, 2023 and 2022. Such information is presented under management criteria; however, for the years ended December 31, 2024