Bladex Still An Opportunity, With Caution On New Business Segments

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 ...