Bladex announces 4Q24 Net Profit of $51.5 Million, or $1.40 per share, reaching an annual record Net Profit of $205.9 Million, or $5.60 per share

Core Viewpoint - Banco Latinoamericano de Comercio Exterior, S.A. (Bladex) reported strong financial results for the Fourth Quarter and Full Year 2024, highlighting record net profits and growth in key financial metrics driven by increased revenues and efficient operations [1][5]. Financial Performance - Net Interest Income (NII) for 4Q24 was $66.9 million, a 2$259.2 million for FY24, up 11% year-over-year [4][5]. - Total revenues reached $78.4 million in 4Q24 and$303.6 million for FY24, reflecting a 14% year-over-year growth [4][5]. - The Bank's profit for the period was $51.5 million in 4Q24, an 11$205.9 million for FY24, a 24% increase year-over-year [4][5]. Profitability Metrics - Return on Equity (ROE) improved to 16.2% for FY24, up 153 basis points year-over-year, with an annualized ROE of 15.5% in 4Q24 [5][6]. - Earnings per Share (EPS) for FY24 was $5.60, compared to$4.55 in FY23 [4][5]. Efficiency and Cost Management - The Efficiency Ratio was 29.2% for 4Q24 and 26.5% for FY24, indicating effective cost management as operating expenses increased by 7% year-over-year in 4Q24 and 11% for FY24 [5][6]. - Operating expenses totaled $22.9 million in 4Q24 and$80.5 million for FY24 [4][5]. Asset Quality and Portfolio Growth - The Credit Portfolio reached a record level of $11,224 million as of December 31, 2024, an 18$10,035 million at the end of 4Q24, reflecting strong demand and business growth [5][6]. Liquidity and Capital Position - The Bank's liquidity position was $1,918 million, representing 16$0.625 per share for 4Q24, to be paid on March 25, 2025 [7]. - The Bank received authorization for the public offering of up to COP $300 billion in ordinary bonds in Colombia [8]. - A succession plan was announced for the Chief Financial Officer position, with a new appointment effective April 2025 [9].