PANAMA CITY, April 25, 2024 /PRNewswire/ -- Banco Latinoamericano de Comercio Exterior, S.A. ("Bladex" or "the Bank") announced today that the Bank filed its annual report on Form 20-F for the fiscal year ended December 31, 2023 (the "2023 Annual Report") with the U.S. Securities and Exchange Commission (the "SEC"). The 2023 Annual Report and audited financial statements can be accessed by visiting either the SEC's website at www.sec.gov or Bladex's website at www.bladex.com.  The Bank can also provide a co ...

Date: April 25, 2024 By: /s/ Ana Graciela de Méndez Name: Ana Graciela de Méndez Title: Chief Financial Officer Commission File Number 1-11414 Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F x Form 40-F o BLADEX FILES ANNUAL REPORT ON FORM 20-F Bladex, a multinational bank originally established by the central banks of Latin-American and Caribbean countries, began operations in 1979 to promote foreign trade and economic integra ...

depositors due, among other factors, to any change in their U.S. dollar liquidity strategies which currently include making deposits with the Bank, could have a material adverse effect on the Bank's liquidity, results of operations and financial condition. In addition, if some private or state-owned international banks cease to provide deposits to the Bank or cease to provide funding to the Bank at historically applicable interest rates, the Bank would have to seek funding from other sources, which may not ...

Financial Performance - The bank achieved a net income of over $51 million in Q1 2024, representing a 39% increase year-on-year and an 11% increase quarter-on-quarter, with an annualized return on equity of 16.8% [3][58] - The balance sheet remained stable at $10.7 billion, up 16% year-on-year, driven by growth in the loan and investment portfolio [4][58] - Net interest income reached $62.9 million, up 20% year-on-year, although down 4% from the previous quarter [39] Business Line Performance - The commercial portfolio grew to $8.7 billion, increasing by 12% year-on-year and 2% from the end of 2023 [61] - Fee income for Q1 2024 was $9.5 million, nearly double the amount from the same period last year, driven by strong revenues from letters of credit [40][41] Market Data - Deposits increased by 32% year-on-year and 7% quarter-on-quarter, now representing 52% of total funding [32] - The bank's cash position stood at $1.7 billion, accounting for 16% of total assets [5] Company Strategy and Industry Competition - The bank is transitioning from the optimization phase to the expansion phase of its strategic plan, focusing on enhancing its product suite and implementing new IT platforms [45][46] - Increased competition from local and international banks is noted, impacting credit spreads [23][55] Management Commentary on Operating Environment and Future Outlook - Management highlighted a challenging landscape with increased liquidity and competition but managed to grow the portfolio and maintain income generation [55][58] - The bank remains committed to achieving a net interest margin of 2.5% and expects incremental revenues from IT investments to reach around 10% of total revenue by 2026 [14][25] Other Important Information - The bank's asset quality remains strong, with 97% of the credit portfolio classified as low risk [31] - A quarterly dividend of $0.50 per share was declared, unchanged from the previous quarter [35] Q&A Session Summary Question: Comments on margin decrease - Management noted that the decrease in margins is due to competition from local and international debt capital markets, but a strong pipeline of syndicated deals is expected to compensate [8] Question: Expectations for future expenses - Management indicated that expenses are seasonally low in Q1 and should align closer to Q3 levels moving forward, with continued investments in IT transformations [9] Question: Realistic NIM expectations - Management confirmed that the target NIM of 2.5% remains realistic, despite potential pressure from lower interest rates in the future [14][16]

PANAMA CITY, April 18, 2024 /PRNewswire/ -- Banco Latinoamericano de Comercio Exterior, S.A. ("Bladex" or the "Bank"), announced today its Board of Directors' approval of a quarterly cash dividend of US$0.50 per share corresponding to the first quarter of 2024. The cash dividend is payable May 15, 2024 to the Bank's stockholders as of April 29, 2024 record date. As of March 31, 2024, Bladex had 36,727,297.73 shares outstanding of all classes. Bladex, a multinational bank originally established by the centra ...

PANAMA CITY, April 18, 2024 /PRNewswire/ -- Banco Latinoamericano de Comercio Exterior, S.A. (NYSE: BLX, "Bladex", or "the Bank"), a Panama-based multinational bank originally established by the central banks of 23 Latin-American and Caribbean countries to promote foreign trade and economic integration in the Region, announced today its results for the First Quarter ("1Q24") ended March 31, 2024. The consolidated financial information in this document has been prepared in accordance with International Finan ...

helovi/E+ via Getty Images Banco Latinoamericano de Comercio Exterior (NYSE:BLX), or Bladex, is a Panamanian trade-finance bank. Since October 2021, I have considered Bladex a buy for a total return of 80%. In my latest article, from December 2023, I kept the Buy rating. Despite the recent appreciation, I considered Bladex still traded at a reasonable multiple of very pessimistic earnings. In this article, I analyze 4Q23 results and management's comments. I also revisit the valuation after the 18% price ...

Banco Latinoamericano de Comercio Exterior, S. A. (NYSE:BLX) Q4 2023 Earnings Conference Call February 23, 2024 10:00 AM ET Company Participants Jorge Salas - Chief Executive Officer Ana de Mendez - Chief Financial Officer Samuel Canineu - Chief Commercial Officer Conference Call Participants Operator Good morning, ladies and gentlemen and welcome to Bladex's Fourth Quarter 2023 Earnings Conference Call. A slide presentation is accompanying today's webcast and is also available on the Investors section of t ...

5.52% 6.48% 6.99% 7.37% 7.65% 3.89% 4.66% 5.20% 5.54% 5.73% 4Q22 1Q23 2Q23 3Q23 4Q23 NIS NIS 1.92% 1.83% NIS 1.79% NIS 1.82% NIS 1.63% Rate of Interest-Earning Assets Rate of Interest-Bearing Liabilities 2023 8 Effect of higher market rates on the share of assets funded by equity. Letters of Credit Fees 4.9 7.4 2022 2023 YoY +51% 19.8 2022 2023 654% | --- | --- | --- | --- | --- | --- | |----------------------------------------------------|-------|-------------|-------|-------|-------| | (USD millions, exce ...

PANAMA CITY, Feb. 22, 2024 /PRNewswire/ -- Banco Latinoamericano de Comercio Exterior, S.A. ("Bladex" or the "Bank"), today announced that its Board of Directors (the "Board") has authorized a repurchase program of up to $50 million of the Bank's common stock over time. This reflects the Bank's commitment to returning excess capital to shareholders that is not needed to sustain the Bank's strength and stability, deliver value to customers, and support future growth.  Bladex remains committed to continuing t ...