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Banco Latinoamericano de Comercio Exterior, S.A. (Bladex), established in 1979, is a multinational bank originally founded by the central banks of Latin American and Caribbean countries to enhance foreign trade and regional integration. Headquartered in Panama, Bladex operates through offices in Argentina, Brazil, Colombia, Mexico, the United States of America, and a representative office in Peru.
The bank provides financial solutions to financial institutions, companies, and investors engaged in business within Latin America, offering a vital link to international capital markets. Bladex's services span two main segments: the Commercial Business Segment and the Treasury Business Segment. These segments help streamline trade finance and ensure effective liquidity management across the region.
Bladex's competitive edge is rooted in its extensive regional presence and expertise in trade finance. The bank facilitates connectivity within Latin America and between the region and the rest of the world, offering its clients a broad array of financial solutions. These include foreign trade financing, working capital loans, and structured trade finance products designed to support the diverse needs of its clientele.
In terms of financial performance, Bladex has achieved remarkable growth. For instance, the net income for the fourth quarter of 2023 reached US$46.4 million, with a record annual income of US$166.2 million—an 81% increase from the previous year. The bank also saw a substantial 58% year-over-year increase in net interest income, amounting to US$233 million. Fee income experienced a 64% rise, totaling US$32.5 million in 2023.
Bladex's strategic initiatives have also led to impressive milestones, such as a US$9.5 billion loan portfolio, representing a 9% year-over-year growth, and deposits of US$4.408 billion—a 38% increase from the previous year. The bank's commercial portfolio grew by about 10% to a record US$8.521 billion by the end of the fourth quarter of 2023.
Recently, Bladex's Board of Directors authorized a repurchase program of up to $50 million of the Bank's common stock, reflecting its commitment to returning excess capital to shareholders. Additionally, the bank has successfully closed new loan facilities, including a US$400 million global syndicated loan and a US$500 million Club Deal Long Term Facility for Grupo de Inversiones Suramericana, S.A., highlighting its strong relationships and significant role in regional financial markets.
Baldex is listed on the New York Stock Exchange (NYSE: BLX) and has a diverse shareholder base that includes central banks, state-owned banks, commercial banks, financial institutions, and institutional and retail investors. For more information, please visit www.bladex.com.
Bladex filed its annual report on Form 20-F for the fiscal year ending December 31, 2021, with the U.S. SEC. The report and audited financial statements can be accessed via the SEC or Bladex's website. Established in 1979, Bladex promotes foreign trade in Latin America and the Caribbean and is headquartered in Panama. The bank's shareholders include central banks and financial institutions from 23 countries. Bladex has been listed on the NYSE since 1992 under the ticker BLX.
Bladex (NYSE: BLX) has announced its First Quarter 2022 Earnings Release, scheduled for May 4, 2022, before the market opens. The earnings announcement will be accompanied by a live webcast presentation featuring CEO Jorge Salas and CFO Ana Graciela de Méndez. Established in 1979 to promote foreign trade, Bladex operates in multiple Latin American and Caribbean countries and is owned by various central and state-owned banks. Investors can participate in the earnings call by dialing the provided contact numbers. For more details, visit the corporate website.
Banco Latinoamericano de Comercio Exterior (Bladex, NYSE: BLX) announced the successful closing of a US$300 million three-year global syndicated loan, marking the largest facility ever secured by the bank. Joint Lead Arrangers included Sumitomo Mitsui Banking Corporation and Wells Fargo Bank, with participation from various financial institutions worldwide. CEO Jorge Salas noted strong investor demand amid market volatility, emphasizing the loan's purpose to support trade and growth in member countries. Established in 1979, Bladex operates across multiple regions, enhancing foreign trade finance.
Banco Latinoamericano de Comercio Exterior (Bladex) announced a quarterly cash dividend of US$0.25 per share for the fourth quarter of 2021, approved by the Board of Directors. This dividend will be payable on March 22, 2022, to stockholders on record as of March 7, 2022. As of December 31, 2021, Bladex had 36,231,145.73 shares outstanding. Established in 1979, Bladex supports foreign trade in Latin America and is listed on the NYSE under the symbol BLX.
Banco Latinoamericano de Comercio Exterior (BLX) reported a 28% QoQ and 27% YoY increase in profit for 4Q21, totaling $20.1 million. Net Interest Income (NII) rose to $24.8 million, while FY21 profit was nearly stable at $62.7 million (-1% YoY). Fee income surged 76% YoY to $18.3 million, driven by transaction-based activities. The Credit Portfolio grew 24% YoY to $7.4 billion. Despite challenges from lower market rates and increased credit provisions, asset quality remained strong with non-performing loans at 0.2%. The Bank's liquidity stood at $1.4 billion as of December 31, 2021.
Banco Latinoamericano de Comercio Exterior (Bladex) announced the successful closure of a US$101.5 million senior dual-tranche syndicated loan for Inversiones CrediQ Business in Costa Rica and El Salvador. Bladex served as the Sole Lead Arranger and Administrative Agent for this facility, marking its first international syndicated loan for CrediQ. The loan will support CrediQ's loan portfolio growth and refinance existing debts. The transaction involved interest from 10 financial institutions across Central America, the Caribbean, and South America, establishing new banking relationships for CrediQ.
Bladex invites stakeholders to its Fourth Quarter 2021 Earnings Conference Call on February 22, 2022. The event will be led by Jorge Salas, CEO, and Ana Graciela de Méndez, CFO. Earnings results will be disclosed prior to the market opening on the same day, with a live webcast available on Bladex's website. Since its establishment in 1979, Bladex has supported economic integration in Latin America and is listed on the NYSE under the ticker BLX, with a diverse shareholder base.
Banco Latinoamericano de Comercio Exterior (Bladex; NYSE: BLX) announced the closing of a US$127.5 million dual tranche senior unsecured syndicated loan for Forum Servicios Financieros, S.A. This loan comprises a US$78 million 3-year tranche and a US$49.5 million 4-year tranche. The deal, oversubscribed at 1.8x, facilitates Forum's portfolio growth and debt repayment. Established in 1993, Forum serves the auto-financing industry in Chile and has total assets of US$1.8 billion.
On November 29, 2021, Banco Latinoamericano de Comercio Exterior (Bladex) announced its sixth issuance of 'Certificados Bursátiles' (Cebures) amounting to MXN 3 billion. The three-year notes carry a floating-rate coupon of 28-day TIIE plus 19 basis points and were oversubscribed by 2.19 times. The issuance received 'mxAAA' ratings from S&P and 'AAA(mex)' from Fitch. Proceeds will fund new initiatives, particularly in Mexico, reinforcing Bladex's commitment to supporting regional growth. The bank, founded in 1979, is listed on the NYSE under the symbol BLX.
Banco Latinoamericano de Comercio Exterior (BLX) reported a profit of $15.7 million for 3Q21, reflecting a 12% increase from the previous quarter and a 2% rise year-over-year. This growth was driven by a 5% increase in total revenues to $26.8 million, boosted by higher net interest income and significant fee income from transaction-based activities. However, profit for the nine months declined 11% due to lower market rates affecting net interest income and higher operating expenses. The Bank maintains a strong Tier 1 capital ratio of 21.3% and a stable credit quality with NPLs at 0.2%.
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