Bladex: Q2 2024 Keeps The Performance Trend, The Bank Is Still A Buy

Banco Latinoamericano de Comercio Exterior (NYSE:BLX), or Bladex for short, reported 2Q24 results today. This article covers the results and earnings call and revisits the company valuation from my previous article in April 2024. Bladex continues to expand its book, financing it with deposits. It continues to grow its fee-generating letter of credit business and has driven its efficiency ratio to below 25%, positioning it as one of the most efficient banks globally. The bank's main risk is the reduction of ...