Banco Latinoamericano de ercio Exterior-Bladex Achieves Record Financial Results and Increases Dividend by 25%

Core Insights - Banco Latinoamericano de Comercio Exterior, S.A. (Bladex) reported historic profitability and business growth for the fourth quarter and full year 2024, achieving a record net income of $206 million, a 24% year-over-year increase [4][7] - The bank's commercial loan portfolio grew by 18%, surpassing$ 10 billion for the first time, with non-performing loans near zero, indicating strong risk management practices [1][4] - Deposits reached $5.4 billion, representing 54% of total funding, with a 23% increase in year-end balances and a 33% rise in average balances for the year, exceeding the bank's growth target of 30% [2] Financial Performance - Fee income reached a record$ 44 million, up 37% from 2023, driven by a 24% increase in letter of credit fees and a 38% rise in syndication fees, with total transactions exceeding $2.5 billion [3][7] - The bank achieved a 10% asset growth and maintained a 26.5% efficiency ratio, reflecting effective cost management [4] - Return on equity (ROE) reached 16.2%, up 153 basis points from 2023, highlighting the efficiency and profitability of Bladex's business model [4] Strategic Developments - The Board of Directors approved a 25% increase in the quarterly dividend, reinforcing confidence in Bladex's growth trajectory and commitment to shareholder value [5][6] - The CEO emphasized that 2024 was a historic year for Bladex, with record profitability and portfolio growth, and indicated plans to launch a digital trade finance platform in the second half of 2025 to enhance product offerings and operational efficiency [6]