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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.
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%.
Banco Latinoamericano de Comercio Exterior (Bladex) has announced a quarterly cash dividend of US$0.25 per share for the third quarter of 2021. The dividend is payable on November 23, 2021, to shareholders on record as of November 9, 2021. As of September 30, 2021, Bladex had 38,017,486.73 shares outstanding. Established in 1979 by central banks from Latin America and the Caribbean, Bladex is headquartered in Panama and listed on the NYSE under the ticker BLX.
Bladex will announce its Third Quarter and Year-to-Date 2021 Earnings on October 29, 2021, before market opening. The earnings release will be followed by a conference call at 11:00 a.m. Eastern Time, featuring CEO Jorge Salas and CFO Ana Graciela de Méndez. Interested participants can join via U.S. or international dialing options. Bladex, established in 1979 and headquartered in Panama, supports foreign trade among Latin American countries and is listed on the NYSE under ticker BLX.
Bladex has successfully closed a US$100 million senior unsecured syndicated loan facility for Unifin, marking its fourth international facility for the company. The loan, oversubscribed at 2.0x, demonstrates strong demand, exceeding the initial target of US$50 million. Proceeds will support Unifin's corporate purposes and expand its medium-term funding, enhancing its loan portfolio growth. Unifin, a leading independent leasing company in Latin America, holds a market cap of US$700 million and is publicly listed on the BMV.
Banco Latinoamericano de Comercio Exterior (Bladex) announced a quarterly cash dividend of US$0.25 per share for Q2 2021. This dividend will be paid on August 24, 2021, to stockholders of record by August 9, 2021. As of June 30, 2021, Bladex had approximately 39.36 million shares outstanding. Founded in 1979, Bladex supports foreign trade and economic integration among Latin American and Caribbean countries.
Banco Latinoamericano de Comercio Exterior (NYSE: BLX) announced its 2Q21 profit of $14.1 million, up 10% QoQ, driven by a 17% increase in revenues. Net Interest Income (NII) rose 11% to $21 million, though down 3% YoY due to lower Libor rates. Total assets reached $6.723 billion, with a stable credit portfolio of $6.531 billion and a credit-impaired loan ratio of 0.2%. The bank maintained a solid Tier 1 Capital Ratio at 23.6%. A quarterly dividend of $0.25 will be paid on August 24, 2021.
Bladex will announce its Second Quarter and Half-Year 2021 Earnings Release on July 28, 2021, prior to market opening. A conference call will occur at 11:00 a.m. ET, featuring CEO Jorge Salas and CFO Ana Graciela de Méndez. Interested participants can join via phone or webcast on the company's official website. Bladex, listed on the NYSE under the symbol BLX, promotes foreign trade in Latin America and the Caribbean, having been established in 1979.
Banco Latinoamericano de Comercio Exterior (BLX) reported its 1Q21 results, showing a profit of $12.8 million, reflecting a 19% decrease QoQ and 30% YoY. Key highlights include a net interest income of $18.9 million, down from $22.3 million in 4Q20. The efficiency ratio increased to 41.6%, with NPLs remaining low at 0.21%. The bank's total assets grew to $6.375 billion, bolstered by a 3% growth in its commercial portfolio. A $60 million stock repurchase program and a maintained dividend of $0.25 per share demonstrate confidence in future recovery amid ongoing challenges.
Banco Latinoamericano de Comercio Exterior, S.A. (Bladex) has announced a quarterly cash dividend of US$0.25 per share for the first quarter of 2021. This dividend will be payable on June 2, 2021 to stockholders recorded as of May 17, 2021. As of March 31, 2021, Bladex had approximately 39.7 million shares outstanding. Bladex, established to promote foreign trade and economic integration in Latin America, has been listed on the NYSE under the symbol BLX since 1992.
Banco Latinoamericano de Comercio Exterior, S.A. (BLX) has authorized a stock repurchase program of up to $60 million. This initiative is designed to enhance shareholder value and demonstrates the bank's commitment to using its capital effectively. The repurchases will occur through open market transactions and other compliant means, subject to market conditions and management's discretion. The program may be terminated at any time, emphasizing its flexibility in response to financial performance and liquidity needs.
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