Banco Latinoamericano de Comercio Exterior SA (BLX)

Bladex announces Net Profit of $56.4 Million for the First Quarter 2026April 27, 2026 6:00 PM
PR Newswire (US)

PANAMA CITY, April 27, 2026 /PRNewswire/ -- Bladex (NYSE: BLX, or "the Bank"), a Panama-based multinational bank originally established by the central banks of 23 Latin-American and Caribbean countries to promote foreign trade and economic integration in the Region, announced today its results for the First Quarter ("1Q26") ended March 31, 2026.
The consolidated financial information in this document has been prepared in accordance with International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board ("IASB").  Financial & Business HighlightsSolid profitability with Net Profits reaching $56.4 million in 1Q26 (+9% YoY), supported by continued balance sheet expansion and revenue generation. Earnings per share totaled $1.31 for 1Q26, reflecting the deduction of the AT1 coupon distribution from net profit attributable to common shareholders, in accordance with the applicable EPS calculation.Adjusted Annualized Return on Equity stood at 14.2% for 1Q26, reflecting disciplined balance sheet growth, solid fee generation, and continued funding optimization.  Including the effect of the AT1 issuance completed in late September 2025, the annualized Return on Equity ("ROE") reached 13.5% in 1Q26.Net Interest Income ("NII") resulted in $70.2 million in 1Q26 (+8% YoY) mostly driven by higher average business volumes. Net Interest Margin ("NIM") stood at 2.34% for 1Q26 (-2bps YoY), reflecting lower base rates implemented in the fourth quarter of 2025 and increased market liquidity driving competitive pricing and margin compression, which was partially offset by improved funding costs driven by deposit growth, as well as pricing discipline.Fees and non-interest income totaled $12.9 million for 1Q26 (+2% YoY), mainly driven by higher fees (+$2.5 million or +24% YoY) from the Bank's off-balance sheet business (letters of credit and commitments) supported by consistent client engagement and increased transactionality. Fee generation was also supported by the loan syndication desk, reflecting continued execution across the Bank's structuring and distribution capabilities.Well-managed Efficiency Ratio of 26.5% for 1Q26, as higher total revenues (+7% YoY) compensated the increase in operating expenses (+5% YoY), associated with continuing investments in technology, modernization and other business initiatives related to the Bank's strategic priorities, including its associated operating costs and depreciation and amortization.Credit Portfolio reached new all-time high at $13,487 million as of March 31, 2026 (+13% YoY), resulting from:Commercial Portfolio EoP balances reaching a peak of $12,047 million at the end of 1Q26 (+13% YoY), reflecting strong growth across all products lines. In addition, the Bank created in this quarter a "Commercial Bond Portfolio" as a strategic capital deployment mechanism applied selectively within the Bank's existing credit framework, with an outstanding principal balance of $234 million as of March 31, 2026.Treasury Investment Portfolio of $1,440 million (+14% YoY), mostly consisting of investment-grade securities outside of Latin America held at amortized cost, further enhancing country and credit-risk diversification and providing contingent liquidity funding.Healthy asset quality, with most of the credit portfolio (97.5%) remaining low-risk or Stage 1 at the end of 1Q26. Stage 2 exposures increased to 2.2% of the portfolio at the end of 1Q26, resulting from the Bank's proactive and cautionary credit assessment against a backdrop of challenging macroeconomic and operating conditions.  Impaired credits or Stage 3 principal balance remained unchanged at $38.7 million or 0.3% of total Credit Portfolio, with a reserve coverage of 2.9x.Heightened and diversified deposit base, reaching historically high levels of $7,307 million at the end of 1Q26 (+25% YoY), representing 63% of the Bank's total funding sources (+6pp YoY). The Bank also maintained ample and constant access to interbank and debt capital markets, most recently denoted by the MXN4.3 billion bond issued in April 2026 in the Mexican capital market.Strong Liquidity position at $1,988 million, or 14.5% of total assets as of March 31, 2026, mostly consisting of deposits placed with the Federal Reserve Bank of New York (80%).The Bank's Tier 1 Basel III Capital and Regulatory Capital Adequacy Ratios resulted in 17.9% and 14.7% at the end of 1Q26, respectively, both well above internal targets and regulatory minimum and providing ample headroom for capital deployment.





Financial Snapshot 




(US$ million, except percentages and per share amounts)1Q264Q251Q25QoQ
(var.)YoY (var.)





Key Income Statement Highlights




Net Interest Income ("NII")$70.2$70.8$65.3-1 %8 %Fees and commissions, net$13.1$14.5$10.6-9 %24 %(Loss) gain on financial instruments, net($0.3)$3.2$2.0-110 %-117 %Other income, net$0.1$0.4$0.1-75 %-25 %Total revenues$83.1$88.8$77.9-6 %7 %Impairment losses on financial instruments($4.7)($5.4)($5.2)-12 %-9 %Operating expenses($22.0)($27.4)($21.0)-20 %5 %Profit for the period$56.4$56.0$51.71 %9 %





Profitability Ratios




Earnings per Share ("EPS") (1)$1.31$1.50$1.40-13 %-7 %Return on Average Equity ("ROE") (2)13.5 %13.4 %15.4 % 6bps -197bpsAdjusted ROE excluding other equity instruments (3)14.2 %14.2 %15.4 % 3bps -121bpsReturn on Average Assets ("ROA") (4)1.8 %1.8 %1.8 % -1bps 4bpsNet Interest Margin ("NIM") (5)2.34 %2.39 %2.36 % -5bps -2bpsNet Interest Spread ("NIS") (6)1.69 %1.68 %1.65 % 0bps 3bpsEfficiency Ratio (7)26.5 %30.9 %26.9 % -437bps -45bps





Assets, Capital, Liquidity & Credit Quality




Credit Portfolio (8)$13,487$12,599$11,9507 %13 %Commercial Portfolio (9)$12,047$11,184$10,6868 %13 %Treasury Investment Portfolio$1,440$1,415$1,2642 %14 %Total Assets$13,739$12,786$12,3957 %11 %Total Equity$1,708$1,679$1,3712 %25 %Market Capitalization (10)1,9171,6601,36015 %47 %Tier 1 Capital to Risk-Weighted Assets (Basel III – IRB) (11)17.9 %17.4 %15.1 % 56bps 283bpsCapital Adequacy Ratio (Regulatory) (12)14.7 %15.5 %13.5 % -82bps 114bpsTotal Assets / Total Equity (times)8.07.69.06 %-11 %Liquid Assets / Total Assets (13)14.5 %14.9 %14.9 % -48bps -47bpsCredit-impaired Loans to Loan Portfolio (14)0.4 %0.4 %0.2 % -2bps 20bpsImpaired Credits (15) to Credit Portfolio0.3 %0.3 %0.1 % -2bps 14bpsTotal Allowance for Losses to Credit Portfolio (16)0.8 %0.9 %0.8 % -2bps 8bpsTotal Allowance for Losses to Impaired credits (times) (16)2.92.85.34 %-45 %Recent EventsQuarterly dividend payment: The Board of Directors approved a quarterly common dividend of $0.6875 per share corresponding to 1Q26. The cash dividend will be paid on May 27, 2026, to shareholders registered as of May 8, 2026.Annual Shareholders' Meeting Results: At the Annual Shareholders' Meeting held on April 21, 2026, in Panama City, Panama, shareholders:Approved an amendment of the Article 1 of the Bank's Articles of Incorporation to change the name of the Bank from "Banco Latinoamericano de Comercio Exterior, S.A." to "Bladex, Inc."Reelected Mr. José Alberto Garzon and elected Mr. Juan Alberto Pazo, as Directors representing the holders of Class "A" shares of the Bank's common stock,Elected Ms. Julianne Canavaggio as Director representing the holders of Class "E" shares of the Bank's common stock,Approved the Bank's audited consolidated financial statements for the fiscal year ended December 31, 2025,Ratified KPMG as the Bank's independent registered public accounting firm for the fiscal year ending December 31, 2026,Approved, on an advisory basis, the compensation of the Bank's executive officers.NotesNumbers and percentages set forth in this earnings release have been rounded and accordingly may not total exactly.QoQ and YoY refer to quarter-on-quarter and year-on-year variations, respectively.Footnotes1.Earnings per Share ("EPS") calculation is based on the average number of shares outstanding during each period.2.ROE refers to return on average stockholders' equity which is calculated based on unaudited daily average balances.3.ROE excluding other equity instruments refers to the adjusted net profit after AT1 distributions over average stockholders' equity excluding other equity instruments, which is calculated based on unaudited daily average balances.4.ROA refers to return on average assets which is calculated based on unaudited daily average balances.5.NIM refers to net interest margin which constitutes to Net Interest Income ("NII") divided by the average balance of interest-earning assets.6.NIS refers to net interest spread which constitutes the average yield earned on interest-earning assets, minus the average yield paid on interest-bearing liabilities.7.Efficiency Ratio refers to consolidated operating expenses as a percentage of total revenues.8.The Bank's "Credit Portfolio" includes (i) loans – principal balance, which excludes interest receivable, allowance for loan losses, and unearned interest and deferred fees (or the "Loan Portfolio"); (ii) principal balance of securities at FVOCI and at amortized cost, which excludes interest receivable and allowance for expected credit losses; and (iii) loan commitments and financial guarantee contracts, such as confirmed and stand-by letters of credit and guarantees covering commercial risk and other assets consisting of customers' liabilities under acceptances.9.The Bank's "Commercial Portfolio" includes loans – principal balance (or the "Loan Portfolio"), loan commitments and financial guarantee contracts, such as issued and confirmed letters of credit, stand-by letters of credit, guarantees covering commercial risk and other assets consisting of customers' liabilities under acceptances; and the principal balance of investment securities managed by the Bank's Commercial Unit (or the "Commercial bond Portfolio").10.Market capitalization corresponds to total outstanding common shares multiplied by market close price at the end of each corresponding period.11.Tier 1 Capital ratio is calculated according to Basel III capital adequacy guidelines, and as a percentage of risk-weighted assets. Risk-weighted assets are estimated based on Basel III capital adequacy guidelines, utilizing internal-ratings based approach or "IRB" for credit risk and standardized approach for operational risk.12.As defined by the Superintendency of Banks of Panama ("SBP") through Rules No. 01-2015, 03-2016 and 05-2023, based on Basel III standardized approach. The capital adequacy ratio is defined as the ratio of capital funds to risk-weighted assets, rated according to the asset's categories for credit risk. In addition, risk-weighted assets consider calculations for market risk and operating risk.13.Liquid assets consist of total cash and due from banks, excluding time deposits with original maturity over 90 days and other restricted deposits, as well as corporate debt securities rated A- or above. Liquidity ratio refers to liquid assets as a percentage of total assets.14.Loan Portfolio refers to loans – principal balance, which excludes interest receivable, allowance for loan losses, and unearned interest and deferred fees. Credit-impaired loans are also commonly referred to as Non-Performing Loans or NPLs.15.Impaired Credits refers to the principal balance of Non-Performing Loans or NPLs and non-performing securities at FVOCI and at amortized cost.16.Total allowance for losses refers to allowance for loan losses plus allowance for loan commitments and financial guarantee contract losses, allowance for investment securities losses and allowance for cash and due from banks losses.Safe Harbor StatementThis press release contains forward-looking statements of expected future developments within the meaning of the Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements can be identified by words such as: "anticipate", "intend", "plan", "goal", "seek", "believe", "project", "estimate", "expect", "strategy", "future", "likely", "may", "should", "will" and similar references to future periods. The forward-looking statements in this press release include the Bank's financial position, asset quality and profitability, among others. These forward-looking statements reflect the expectations of the Bank's management and are based on currently available data; however, actual performance and results are subject to future events and uncertainties, which could materially impact the Bank's expectations. Among the factors that can cause actual performance and results to differ materially are as follows: the coronavirus (COVID-19) pandemic and geopolitical events; the anticipated changes in the Bank's credit portfolio; the continuation of the Bank's preferred creditor status; the impact of increasing/decreasing interest rates and of the macroeconomic environment in the Region on the Bank's financial condition; the execution of the Bank's strategies and initiatives, including its revenue diversification strategy; the adequacy of the Bank's allowance for expected credit losses; the need for additional allowance for expected credit losses; the Bank's ability to achieve future growth, to reduce its liquidity levels and increase its leverage; the Bank's ability to maintain its investment-grade credit ratings; the availability and mix of future sources of funding for the Bank's lending operations; potential trading losses; the possibility of fraud; and the adequacy of the Bank's sources of liquidity to replace deposit withdrawals. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.About BladexBladex, a multinational bank originally established by the central banks of Latin-American and Caribbean countries, began operations in 1979 to promote foreign trade and economic integration in the Region. The Bank, headquartered in Panama, also has offices in Argentina, Brazil, Colombia, Mexico, and the United States of America, and a Representative License in Peru, supporting the regional expansion and servicing its customer base, which includes financial institutions and corporations.Bladex is listed on the NYSE in the United States of America (NYSE: BLX), since 1992, and its shareholders include: central banks and state-owned banks and entities representing 23 Latin American countries; commercial banks and financial institutions; and institutional and retail investors through its public listing.Conference Call InformationThere will be a conference call to discuss the Bank's quarterly results on Tuesday, April 28, 2026, at 11:00 a.m. New York City time (Eastern Time). For those interested in participating, please click here to pre-register to our conference call or visit our website at https://bladex.com/. Participants should register five minutes before the call is set to begin. The webcast presentation will be available for viewing and downloads on https://bladex.com/. The conference call will become available for review one hour after its conclusion.For more information, please access http://www.bladex.com or contact:Mr. Carlos Daniel Raad
Chief Investor Relations Officer
Tel: +507 366-4925 ext. 7925
E-mail: craad@bladex.com / ir@bladex.comLogo - https://mma.prnewswire.com/media/2950874/5927140/BLADEX_Logo_PMS_289_Blue_Logo.jpg  



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Original: Bladex announces Net Profit of $56.4 Million for the First Quarter 2026

BLADEX FILES ANNUAL REPORT ON FORM 20-FApril 20, 2026 6:00 PM
PR Newswire (US)

PANAMA CITY, Republic of Panama, April 20, 2026 /PRNewswire/ -- Banco Latinoamericano de Comercio Exterior, S.A. ("Bladex" or "the Bank") announced today that the Bank filed its annual report on Form 20-F for the fiscal year ended December 31, 2025 (the "2025 Annual Report") with the U.S. Securities and Exchange Commission (the "SEC").The 2025 Annual Report and audited financial statements can be accessed by visiting either the SEC's website at www.sec.gov or Bladex's website at www.bladex.com.  The Bank can also provide a copy of the Bank's audited financial statements or annual report on Form 20-F, upon a written request and without charge.Bladex, a multinational bank originally established by the central banks of Latin-American and Caribbean countries, began operations in 1979 to promote foreign trade and economic integration in the Region.  The Bank, headquartered in Panama, also has offices in Argentina, Brazil, Colombia, Mexico, the United States of America, and a Representative License in Peru, supporting the regional expansion and servicing of its customer base, which includes financial institutions and corporations.Bladex is listed on the NYSE in the United States of America (NYSE: BLX), since 1992, and its shareholders include: central banks and state-owned banks and entities representing 23 Latin American countries, commercial banks and financial institutions, and institutional and retail investors through its public listing. For further information on Bladex, please access its website at www.bladex.com or contact:Carlos Daniel Raad – Chief Investor Relations Officer
E-mail address:  craad@bladex.com /

Bladex Outlines 2030 Strategy to Drive Sustainable Growth and Higher Returns at Investor DayMarch 25, 2026 7:30 AM
PR Newswire (US)

PANAMA CITY, March 25, 2026 /PRNewswire/ -- Bladex (NYSE: BLX, or "the Bank"), a Panama-based multinational founded by the central banks of 23 Latin American and Caribbean countries to promote foreign trade and economic integration in the region, today hosted its 2026 Investor Day, "Our 2030 Vision."At the virtual event, Chairman Miguel Heras, Chief Executive Officer Jorge Salas, Chief Financial Officer Annette Van Hoorde, and members of senior management reviewed the successful delivery of Bladex's 2022–2026 strategic plan and presented the Bank's roadmap to 2030: scaling its regional trade franchise into a more diversified, increasingly transactional banking platform while maintaining its conservative risk profile and investment-grade discipline.Chairman Miguel Heras highlighted the institution's transformation since 2019, when the Board and management aligned to modernize the operating model while preserving its culture of strong risk discipline."The most important outcome of the past four years is not only our financial performance, but the transformation of the institution. We strengthened our culture, enhanced governance, and built the capabilities to continue building Bladex into a true trade bank for Latin America. That transformation has driven record performance, a stronger funding profile, and higher fee-based income, positioning the Bank to execute on its 2030 plan. Our 2030 strategy is grounded in execution, not aspiration," said Heras.Delivered ahead of planChief Executive Officer Jorge Salas reviewed the delivery of the 2022–2026 plan, noting that Bladex met or exceeded its main financial and strategic objectives ahead of schedule while preserving its low–risk DNA. Between 2021 and 2025, the commercial portfolio grew 71%, lending spread expanded by 86 basis points, reserve coverage strengthened, the cost–to–income ratio improved from 38.3% to 26.7%, and ROE more than doubled. The Bank's transformation also translated into stronger market recognition, including a tripling of the share price, cumulative shareholder returns of 243% that outperformed comparable market benchmarks, and a near tripling of average daily trading volume."The next phase for Bladex is about capturing more of the value embedded in the client flows we already finance. By adding transactional services in a gradual and disciplined way, we can improve our funding mix, expand fee generation, and strengthen the resilience of our earnings without changing the core nature of our model," said Salas.2030 strategy focused on disciplined growth, funding optimization, and fee expansionLooking ahead, Bladex's 2030 strategic plan is anchored on three pillars: disciplined growth, lower cost of funds, and a higher contribution from non-interest income. This next phase builds on the Bank's existing strengths and the opportunity to deepen relationships and increase share of wallet within its current client franchise. The strategy is designed to improve earnings quality and resilience without changing the Bank's business model.A central component of the next phase is the gradual rollout of transactional services, enabling Bladex to capture a larger share of deposits, payments, and related fee opportunities associated with the trade flows it already finances. Management also highlighted continued focus on deeper client monetization, improved pricing, stronger cross-sell, and greater penetration across its four core verticals: Structured Trade Finance, Letters of Credit, Syndications, and Project Finance & Infrastructure.Treasury is expected to play a larger role in fee generation and funding efficiency through FX and derivatives capabilities that generate fee-based non-interest income, as well as local and multi-currency funding solutions that improve funding efficiency and enable local currency lending without FX exposure.To support the 2030 agenda, Bladex is continuing to strengthen execution enablers across commercial excellence, data readiness, platform modernization, and selective AI deployment, while maintaining disciplined investment and preserving operating efficiency. Together, they are expected to reinforce execution capacity and support the next wave of productivity improvement across the Bank. Strategic evolution and new brand identity In line with this new phase, Bladex introduced its new brand identity, reflecting the transformation the institution is driving.The new image, more modern and aligned with what the Bank is today and what it is building, supports its evolution toward a more diversified and increasingly transactional platform, in line with its growth strategy and its role as a bridge between Latin America and global financial markets.Along this path, Bladex reaffirms its purpose of driving the region's development, bridging, connecting and propelling opportunities for its clients and for Latin America.Scaling while preserving risk disciplineManagement emphasized that the 2030 plan represents an evolution in complexity, not a change in Bladex's risk philosophy. As the business becomes more transactional, the Bank expects greater non-financial risk in areas such as operations, technology, compliance, and financial crime, and is addressing it through tighter controls, stronger monitoring, and continued investment in governance, infrastructure, analytics, and specialized capabilities.Financial risk remains anchored in Bladex's underwriting discipline, short-tenor U.S. dollar-based portfolio, focus on high-quality clients, and strong capital and liquidity buffers.Financial outlook to 2030 Chief Financial Officer Annette Van Hoorde outlined a clear financial path to 2030, supported by a more diversified and capital-efficient earnings profile anchored in disciplined portfolio growth, a higher contribution from non-interest income, and funding optimization."This is not simply balance-sheet growth. It is structural improvement in the quality, mix, and scalability of earnings," Van Hoorde said. "We are enhancing the economics of the business through a better revenue mix, stronger funding, and disciplined growth, supporting sustainable returns without increasing risk."By 2030, the Bank targets:Commercial portfolio of $18–$20 billionNet interest margin of approximately 2.30%Non-interest income of approximately $125 millionEfficiency ratio of 25%–27%Adjusted ROE of 16%–17%Tier 1 capital ratio of 15%–16%.The Bank expects to reinvest a meaningful portion of earnings to support growth while returning value to shareholders through dividends, based on a payout ratio of around 40% over time.These targets reflect a more resilient and scalable model, with greater earnings diversification and lower sensitivity to rate cycles over time.Closing remarksIn closing, Chief Executive Officer Jorge Salas reiterated that Bladex is entering its next phase of growth from a position of proven execution."We have demonstrated our ability to deliver disciplined growth, and we are now scaling that model. The next phase, including the introduction of transactional services, will strengthen our funding profile, expand fee generation and enhance resilience while preserving our low-risk, selective approach. The model is not changing. It is scaling," Salas said. About BladexBladex, a multinational bank originally established by the central banks of Latin American and Caribbean countries, began operations in 1979 to promote foreign trade and economic integration in the region. The Bank, headquartered in Panama, also has offices in Argentina, Brazil, Colombia, Mexico, and the United States, and a Representative License in Peru, supporting regional expansion and servicing its customer base, which includes financial institutions and corporations. Bladex has been listed on the NYSE (NYSE: BLX) since 1992, and its shareholders include central banks and state-owned banks and entities representing 23 Latin American countries; commercial banks and financial institutions; and institutional and retail investors through its public listing.Safe Harbor StatementSafe Harbor Statement This press release contains forward-looking statements of expected future developments within the meaning of the Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements can be identified by words such as: "anticipate", "intend", "plan", "goal", "seek", "believe", "project", "estimate", "expect", "strategy", "future", "likely", "may", "should", "will" and similar references to future periods. The forward-looking statements in this press release include the Bank's financial position, asset quality and profitability, among others. These forward-looking statements reflect the expectations of the Bank's management and are based on currently available data; however, actual performance and results are subject to future events and uncertainties, which could materially impact the Bank's expectations. Among the factors that can cause actual performance and results to differ materially are as follows: the coronavirus (COVID-19) pandemic and geopolitical events; the anticipated changes in the Bank's credit portfolio; the continuation of the Bank's preferred creditor status; the impact of increasing/decreasing interest rates and of the macroeconomic environment in the region on the Bank's financial condition; the execution of the Bank's strategies and initiatives, including its revenue diversification strategy; the adequacy of the Bank's allowance for expected credit losses; the need for additional allowance for expected credit losses; the Bank's ability to achieve future growth, reduce its liquidity levels, and increase its leverage; the Bank's ability to maintain its investment-grade credit ratings; the availability and mix of future sources of funding for the Bank's lending operations; potential trading losses; the possibility of fraud; and the adequacy of the Bank's sources of liquidity to replace deposit withdrawals. Factors or events that could cause actual results to differ may emerge from time to time, and it is not possible for the Bank to predict all of them. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Bank undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.ContactsFor more information, please access http://www.bladex.com or contact:
Mr. Carlos Daniel Raad
Chief Investor Relations Officer
Tel: +507 366-4925 ext. 7925
E-mail: craad@bladex.com / ir@bladex.comPhoto - https://mma.prnewswire.com/media/2941768/3.jpg
Video - https://www.youtube.com/watch?v=5-yXhvR8G_M
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Original: Bladex Outlines 2030 Strategy to Drive Sustainable Growth and Higher Returns at Investor Day

BLADEX ANNOUNCES INCREASE IN QUARTERLY CASH DIVIDEND FOLLOWING RECORD 2025 RESULTSFebruary 12, 2026 5:00 PM
PR Newswire (US)

PANAMA CITY, Feb. 12, 2026 /PRNewswire/ -- Bladex announced today that its Board of Directors has approved an increase in the quarterly cash dividend to $0.6875 per share, up from $0.625 per share in the previous quarter.







The dividend increase reflects the Bank's record financial performance in 2025 and underscores its continued commitment to delivering attractive shareholder returns while maintaining financial strength and flexibility.  The new quarterly dividend represents 46% of fourth-quarter 2025 net income, consistent with Bladex's disciplined and balanced capital allocation approach.The cash dividend is payable March 12, 2026 to the Bank's stockholders as of February 25, 2026 record date.Bladex, a multinational bank originally established by the central banks of Latin-American and Caribbean countries, began operations in 1979 to promote foreign trade and economic integration in the Region.  The Bank, headquartered in Panama, also has offices in Argentina, Brazil, Colombia, Mexico, the United States of America, and a Representative License in Peru, supporting the regional expansion and servicing of its customer base, which includes financial institutions and corporations.Bladex is listed on the NYSE in the United States of America (NYSE: BLX), since 1992, and its shareholders include: central banks and state-owned banks and entities representing 23 Latin American countries, commercial banks and financial institutions, and institutional and retail investors through its public listing. For further information on Bladex, please access its website at www.bladex.com or contact:Carlos Daniel Raad – Chief Investor Relations OfficerE-mail address: craad @BERT ext. 7925Head Office Address: Torre V, Business Park, Ave. La Rotonda, Urb. Costa del Este, Panama, Republic of Panama 



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Original: BLADEX ANNOUNCES INCREASE IN QUARTERLY CASH DIVIDEND FOLLOWING RECORD 2025 RESULTS

BLADEX ANNOUNCES NET PROFITS OF $56.0 MILLION OR $1.50 PER SHARE IN 4Q25 AND $226.9 MILLION OR $6.11 PER SHARE IN 2025February 12, 2026 5:00 PM
PR Newswire (US)

PANAMA CITY, Feb. 12, 2026 /PRNewswire/ -- Bladex (NYSE: BLX, or "the Bank"), a Panama-based multinational bank originally established by the central banks of 23 Latin-American and Caribbean countries to promote foreign trade and economic integration in the Region, announced today its results for the Fourth Quarter ("4Q25") and Full-year ("FY25") ended December 31, 2025.







The consolidated financial information in this document has been prepared in accordance with International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board ("IASB").Financial & Business HighlightsSolid profitability, with Net Profits reaching $56.0 million in 4Q25 (+9% YoY) and $226.9 million in FY25 (+10% YoY), fostered by continued business growth, strengthened revenue generation and disciplined credit-risk and cost management.Adjusted Annualized Return on Equity ("ROE") stood at 14.2% for 4Q25 and 15.8% for FY25, reflecting the impact of interest rate cuts implemented by the FED since 2024. Including the effect of the AT1 issuance completed in late September 2025, the ROE reached 13.4% in 4Q25 and 15.4% in FY25.Net Interest Income ("NII") improved to $70.8 million in 4Q25 (+6% YoY) and $271.2 million in FY25 (+5% YoY), mostly driven by higher average business volumes. Net Interest Margin ("NIM") stood at 2.39% for 4Q25 (-4bps YoY) and 2.36% for FY25 (-11bps YoY), reflecting lower base rates and increased market liquidity driving competitive pricing and margin compression, which was partially offset by improved funding costs driven by deposit growth, as well as pricing discipline.Strong fees and non-interest income at $18.0 million for 4Q25 (+57% YoY) and $68.4 million for FY25 (+54% YoY), stemming from record level performance of the Bank's core trade-finance and structuring activities, together with strong strategic execution and broader revenue diversification, as derivatives income and secondary-market loan activity have become an increasingly important source of revenue stream.Well-managed Efficiency Ratio of 30.9% for 4Q25 and 26.7% in FY25, a slight increase YoY due to higher operating expenses from ongoing investments in technology, modernization and other business initiatives related to the Bank's strategic priorities, and headcount growth to strengthen execution capabilities.Credit Portfolio reached new all-time high at $12,599 million as of December 31, 2025 (+12% YoY), resulting from:Commercial Portfolio EoP balances reaching a peak of $11,184 million at the end of 4Q25 (+11% YoY), reflecting strong growth across all products lines.Investment Portfolio of $1,415 million (+19% YoY), mostly consisting of investment-grade securities outside of Latin America held at amortized cost, further enhancing country and credit-risk diversification and providing contingent liquidity funding.Healthy asset quality, with most of the credit portfolio (98.2%) remaining low-risk or Stage 1 at the end of 4Q25. Stage 2 exposures decreased to 1.5% of the portfolio at the end of 4Q25, reflecting credit quality improvement on country upgrades and scheduled repayments, while a single exposure deteriorated to Stage 3. Impaired credits or Stage 3 principal balance totaled $38.7 million or 0.3% of total Credit Portfolio, with a reserve coverage of 2.8x.Solid and diversified deposit base, reaching $6,604 million at the end of 4Q25 (+22% YoY), representing 62% of the Bank's total funding sources (+8pp YoY). The Bank also maintained ample and constant access to interbank and debt capital markets, most recently denoted by the reopening of $2 billion MXN bond issued in December 2025 in the Mexican capital market.Strong Liquidity position at $1,911 million, or 14.9% of total assets as of December 31, 2025, mostly consisting of deposits placed with the Federal Reserve Bank of New York (91%).The Bank´s Tier 1 Basel III Capital and Regulatory Capital Adequacy Ratios resulted in 17.4% and 15.5% at the end of 4Q25, respectively, both well above internal targets and regulatory minimum, providing ample headroom for capital deployment following the successful execution of the Bank's inaugural AT1 issuance in late September 2025.Increased common dividend to $0.6875 per share for the 4Q25 up from $0.625 per share. The 10% dividend increase reflects the Bank's record financial performance in 2025 and underscores its continued commitment to delivering attractive shareholder returns while maintaining financial strength and flexibility.Financial Snapshot 




(US$ million, except percentages and per share amounts)4Q253Q254Q2420252024





Key Income Statement Highlights




Net Interest Income ("NII")$70.8$67.4$66.9$271.2$259.2Fees and commissions, net$14.5$14.1$11.9$59.0$44.4Gain (loss) on financial instruments, net$3.2$0.9($0.6)$8.2($0.5)Other income, net$0.4$0.4$0.2$1.1$0.5Total revenues$88.8$82.8$78.4$339.6$303.6Impairment losses on financial instruments($5.4)($6.5)($4.0)($22.1)($17.3)Operating expenses($27.4)($21.3)($22.9)($90.6)($80.5)Profit for the period$56.0$55.0$51.5$226.9$205.9





Profitability Ratios




Earnings per Share ("EPS") (1)$1.50$1.48$1.40$6.11$5.60Return on Average Equity ("ROE") (2)13.4 %14.9 %15.5 %15.4 %16.2 %Adjusted ROE excluding other equity instruments (3)14.2 %15.1 %15.5 %15.8 %16.2 %Return on Average Assets ("ROA") (4)1.8 %1.8 %1.8 %1.9 %1.9 %Net Interest Margin ("NIM") (5)2.39 %2.32 %2.44 %2.36 %2.47 %Net Interest Spread ("NIS") (6)1.68 %1.64 %1.69 %1.67 %1.75 %Efficiency Ratio (7)30.9 %25.8 %29.2 %26.7 %26.5 %





Assets, Capital, Liquidity & Credit Quality




Credit Portfolio (8)$12,599$12,286$11,224$12,599$11,224Commercial Portfolio (9)$11,184$10,872$10,035$11,184$10,035Investment Portfolio$1,415$1,414$1,189$1,415$1,189Total Assets$12,786$12,498$11,859$12,786$11,859Total Equity$1,679$1,646$1,337$1,679$1,337Market Capitalization (10)$1,660$1,712$1,309$1,660$1,309Tier 1 Capital to Risk-Weighted Assets (Basel III – IRB) (11)17.4 %18.1 %15.5 %17.4 %15.5 %Capital Adequacy Ratio (Regulatory) (12)15.5 %15.8 %13.6 %15.5 %13.6 %Total Assets / Total Equity (times)7.67.68.97.68.9Liquid Assets / Total Assets (13)14.9 %15.5 %16.2 %14.9 %16.2 %Credit-impaired Loans to Loan Portfolio (14)0.4 %0.2 %0.2 %0.4 %0.2 %Impaired Credits (15) to Credit Portfolio0.3 %0.2 %0.2 %0.3 %0.2 %Total Allowance for Losses to Credit Portfolio (16)0.8 %0.8 %0.8 %0.8 %0.8 %Total Allowance for Losses to Impaired credits (times) (16)2.85.45.02.85.0





Recent EventsQuarterly dividend payment: The Board of Directors approved a quarterly common dividend of $0.6875 per share corresponding to 4Q25. The cash dividend will be paid on March 12, 2026, to shareholders registered as of February 25, 2026.NotesNumbers and percentages set forth in this earnings release have been rounded and accordingly may not total exactly.QoQ and YoY refer to quarter-on-quarter and year-on-year variations, respectively.FootnotesEarnings per Share ("EPS") calculation is based on the average number of shares outstanding during each period.ROE refers to return on average stockholders' equity which is calculated based on unaudited daily average balances.ROE excluding other equity instruments refers to the adjusted net profit after AT1 distributions over average stockholders' equity excluding other equity instruments, which is calculated based on unaudited daily average balances.ROA refers to return on average assets which is calculated based on unaudited daily average balances.NIM refers to net interest margin which constitutes to Net Interest Income ("NII") divided by the average balance of interest-earning assets.NIS refers to net interest spread which constitutes the average yield earned on interest-earning assets, minus the average yield paid on interest-bearing liabilities.Efficiency Ratio refers to consolidated operating expenses as a percentage of total revenues.The Bank's "Credit Portfolio" includes (i) loans – principal balance, which excludes interest receivable, allowance for loan losses, and unearned interest and deferred fees (or the "Loan Portfolio"); (ii) principal balance of securities at FVOCI and at amortized cost, which excludes interest receivable and allowance for expected credit losses (or the "Investment Portfolio"); and (iii) loan commitments and financial guarantee contracts, such as confirmed and stand-by letters of credit and guarantees covering commercial risk and other assets consisting of customers' liabilities under acceptances.The Bank's "Commercial Portfolio" includes loans – principal balance (or the "Loan Portfolio"), loan commitments and financial guarantee contracts, such as issued and confirmed letters of credit, stand-by letters of credit, guarantees covering commercial risk and other assets consisting of customers' liabilities under acceptances.Market capitalization corresponds to total outstanding common shares multiplied by market close price at the end of each corresponding period.Tier 1 Capital ratio is calculated according to Basel III capital adequacy guidelines, and as a percentage of risk-weighted assets. Risk-weighted assets are estimated based on Basel III capital adequacy guidelines, utilizing internal-ratings based approach or "IRB" for credit risk and standardized approach for operational risk.As defined by the Superintendency of Banks of Panama ("SBP") through Rules No. 01-2015, 03-2016 and 05-2023, based on Basel III standardized approach. The capital adequacy ratio is defined as the ratio of capital funds to risk-weighted assets, rated according to the asset's categories for credit risk. In addition, risk-weighted assets consider calculations for market risk and operating risk.Liquid assets consist of total cash and due from banks, excluding time deposits with original maturity over 90 days and other restricted deposits, as well as corporate debt securities rated A- or above. Liquidity ratio refers to liquid assets as a percentage of total assets.Loan Portfolio refers to loans – principal balance, which excludes interest receivable, allowance for loan losses, and unearned interest and deferred fees. Credit-impaired loans are also commonly referred to as Non-Performing Loans or NPLs.Impaired Credits refers to the principal balance of Non-Performing Loans or NPLs and non-performing securities at FVOCI and at amortized cost.Total allowance for losses refers to allowance for loan losses plus allowance for loan commitments and financial guarantee contract losses, allowance for investment securities losses and allowance for cash and due from banks losses.Safe Harbor StatementThis press release contains forward-looking statements of expected future developments within the meaning of the Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements can be identified by words such as: "anticipate", "intend", "plan", "goal", "seek", "believe", "project", "estimate", "expect", "strategy", "future", "likely", "may", "should", "will" and similar references to future periods. The forward-looking statements in this press release include the Bank's financial position, asset quality and profitability, among others. These forward-looking statements reflect the expectations of the Bank's management and are based on currently available data; however, actual performance and results are subject to future events and uncertainties, which could materially impact the Bank's expectations. Among the factors that can cause actual performance and results to differ materially are as follows: the coronavirus (COVID-19) pandemic and geopolitical events; the anticipated changes in the Bank's credit portfolio; the continuation of the Bank's preferred creditor status; the impact of increasing/decreasing interest rates and of the macroeconomic environment in the Region on the Bank's financial condition; the execution of the Bank's strategies and initiatives, including its revenue diversification strategy; the adequacy of the Bank's allowance for expected credit losses; the need for additional allowance for expected credit losses; the Bank's ability to achieve future growth, to reduce its liquidity levels and increase its leverage; the Bank's ability to maintain its investment-grade credit ratings; the availability and mix of future sources of funding for the Bank's lending operations; potential trading losses; the possibility of fraud; and the adequacy of the Bank's sources of liquidity to replace deposit withdrawals. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.About BladexBladex, a multinational bank originally established by the central banks of Latin-American and Caribbean countries, began operations in 1979 to promote foreign trade and economic integration in the Region. The Bank, headquartered in Panama, also has offices in Argentina, Brazil, Colombia, Mexico, and the United States of America, and a Representative License in Peru, supporting the regional expansion and servicing its customer base, which includes financial institutions and corporations.Bladex is listed on the NYSE in the United States of America (NYSE: BLX), since 1992, and its shareholders include: central banks and state-owned banks and entities representing 23 Latin American countries; commercial banks and financial institutions; and institutional and retail investors through its public listing.Conference Call InformationThere will be a conference call to discuss the Bank's quarterly results on Friday, February 13, 2026, at 10:00 a.m. New York City time (Eastern Time). For those interested in participating, please click here to pre-register to our conference call or visit our website at http://www.bladex.com. Participants should register five minutes before the call is set to begin. The webcast presentation will be available for viewing and downloads on http://www.bladex.com. The conference call will become available for review one hour after its conclusion.For more information, please access http://www.bladex.com or contact:Mr. Carlos Daniel Raad
Chief Investor Relations Officer
Tel: +507 366-4925 ext. 7925
E-mail: craad@bladex.com / ir@bladex.com



View original content to download multimedia:https://www.prnewswire.com/news-releases/bladex-announces-net-profits-of-56-0-million-or-1-50-per-share-in-4q25-and-226-9-million-or-6-11-per-share-in-2025--302686688.htmlSOURCE Bladex

Original: BLADEX ANNOUNCES NET PROFITS OF $56.0 MILLION OR $1.50 PER SHARE IN 4Q25 AND $226.9 MILLION OR $6.11 PER SHARE IN 2025

Bladex's Fourth Quarter 2025 Conference CallJanuary 30, 2026 7:30 AM
PR Newswire (US)

PANAMA CITY, Jan. 30, 2026 /PRNewswire/ -- Banco Latinoamericano de Comercio Exterior, S.A. (NYSE:  BLX) cordially invites you to participate in its upcoming conference call to discuss its 4Q25 results







Date and time:
Friday, February 13, 2026
10:00 a.m. Eastern TimePresenting for Bladex:
Mr. Jorge Salas, Chief Executive Officer
Mrs. Annette van Hoorde de Solís, Chief Financial OfficerRegister for the Conference Call
Please click here to pre-register for this conference call.Bladex's Fourth Quarter 2025 Earnings Release will be announced on Thursday, February 12, 2026, after the market closes and will be available on the Bank's corporate website, along with the webcast presentation.About Bladex:
Bladex, a multinational bank originally established by the central banks of Latin-American and Caribbean countries, began operations in 1979 to promote foreign trade and economic integration in the Region.  The Bank, headquartered in Panama, also has offices in Argentina, Brazil, Colombia, Mexico, the United States of America, and a Representative License in Peru, supporting the regional expansion and servicing of its customer base, which includes financial institutions and corporations.Bladex is listed on the NYSE in the United States of America (NYSE: BLX), since 1992, and its shareholders include: central banks and state-owned banks and entities representing 23 Latin American countries, commercial banks and financial institutions, and institutional and retail investors through its public listing. Contact Information:
Carlos Daniel Raad - Executive VP IR & ESG
Tel: +507 366-4925
E-mail: craad@bladex.com / ir@bladex.com
www.bladex.com  
@bladexlatam       



View original content to download multimedia:https://www.prnewswire.com/news-releases/bladexs-fourth-quarter-2025-conference-call-302674439.htmlSOURCE Bladex

Original: Bladex's Fourth Quarter 2025 Conference Call

BLX Q2 EPS - 1.73

Absolutely stellar.

Bad timing on the thin out but hey never hurts to book any profit.

Stellar earnings report. Another 25% dividend increase.

Only Mullen lately. A RS and dilutive machine.

No...being an eternal optimist, i can't get my mind around shorting.

How about you?

Do you ever short big board stocks?

It certainly is.

Going in the right direction, however i did reduce here a bit for the time being, on some concerns about some of the economic issues facing Brazil, new administration in Washington - Panama canal and tariff issues on Mexico. Hope my concerns are nothing and might add more depending on how 4th quarter looks.

BLX is performing stellar as of late.

Had a very nice time with extended family sir, thank you.

Have a great Christmas holiday Bear!

God Bless bro!

fm

Thank you fine sir.

Have a great Thanksgiving holiday Bear!!

fm

Election day is usually quite volatile in the banking sector. The market hates FUD.

Appreciate the information,..appears to be a nice monthly income play,

however, i'm going to pass on this one. I like the path BLX is on, more then what OXSQ is doing. However i'm waiting a bit, to see what happens on the evening of November 5. Still watching to add more BLX.

Elections often cause uncertainty, which at times is negative for markets.

Take a glance at OXSQ. I'm heavily vested and adding regularly, especially at the current price range.

Yeah, what's with this market?

I won't mind seeing BLX depreciate a bit more, i was raising cash today, and looking to add more BLX.
sold out LTBR
sold out the rest of my beloved OZK common (not OZKAP - those are keepers), still like OZK, but something hasn't been sitting right with me about many things lately, the economy, hurricane damages, real estate, commercial real estate, the election, wars and rumours of war, high interest rate environment, etc.,, i'm just sensing that a volatile correction era could be coming, imo.
sold out all IMTX a while back.

Still like ESPR and TCRX in the biotech space.

Anything new in your world?

Stellar results didn't move the needle at all again. In fact, more minor depreciation.

In the meantime I'll keep stacking outstanding dividends.

Very impressive financial health overall. Excellent growth YOY.

Undervalued still by every metric out there.

Full Report here, Bear

https://www.bladex.com/sites/default/files/2024-10/PR3Q24_Eng_Full%20Report_0.pdf

From page 26: ( of interest)

PER COMMON SHARE DATA:
Basic earnings per share $4.20 $3.28
Diluted earnings per share $4.20 $3.28
Book value (period average) $34.14 $30.53
Book value (period end) $35.61 $31.77

I have to admit, i was slightly concerned with BLX Q3 for various reasons. After reviewing the financials, i like what i see, and this bank is going in the right direction, imo.
I may rotate more into BLX, and perhaps reduce on OZK common.

BLX Q3 Presentation
https://www.bladex.com/sites/default/files/2024-10/3Q24%20Presentation_1.pdf
- nice charts,imo.

BLX: Bladex announces 3Q24 Net Profit of $53.0 Million, or $1.44 per share; annualized return on equity of 16.4% in 3Q24

https://finance.yahoo.com/news/bladex-announces-3q24-net-profit-220100357.html

Another excellent quarter.

Nothing going on ah today.

BLX: BLADEX ANNOUNCES QUARTERLY DIVIDEND PAYMENT FOR THIRD QUARTER 2024

https://finance.yahoo.com/news/bladex-announces-quarterly-dividend-payment-220000174.html

Short lived excitement yesterday.

Yes, earnings ah today.

Nevermind lol.

Appears to be excitement going into today's earnings?

AH? I forgot.

BLX - ah last at $34.72 !!

https://www.nasdaq.com/market-activity/stocks/blx/after-hours

Summth'in up?

Anything new in your world, Bear?

What are your thoughts on BLX upcoming 3rd quarter?

Looks like nuclear stocks are trending,imo. LTBR looks interesting, lower market cap then others in the nuclear sector.
Starter position.

Valid.

If they are able to maintain their dividend of .50 per quarter, coupled with maintaining or growing the EPS, BLX stands a good chance to enter the $35-$40 level, imo.

Rate cuts will help, making dividend yield more attractive, imo. I think that is what is happening with OZKAP.

Hovering back around all time high. Perhaps it will get thru to the next level this year.

BLX: Banco Latinoamericano de Comercio Exterior, S.A. (NYSE: BLX) cordially invites you to participate in its upcoming conference call to discuss its 3Q24 results

PRNewsfoto/Banco Latinoamericano de Comercio Exterior, S.A. (Bladex))
Date and time:
Wednesday, October 30, 2024
11:00 a.m. Eastern Time

Presenting for Bladex:
Mr. Jorge Salas, Chief Executive Officer
Mrs. Ana Graciela de Méndez, Chief Financial Officer

Register for the Conference Call
Please click here to pre-register for this conference call.

Bladex's Third Quarter 2024 Earnings Release will be announced on Tuesday, October 29, 2024, after the market closes and will be available on the Bank's corporate website, along with the webcast presentation.

About Bladex:
Bladex, a multinational bank originally established by the central banks of Latin-American and Caribbean countries, began operations in 1979 to promote foreign trade and economic integration in the Region. The Bank, headquartered in Panama, also has offices in Argentina, Brazil, Colombia, Mexico, the United States of America, and a Representative License in Peru, supporting the regional expansion and servicing of its customer base, which includes financial institutions and corporations.

Bladex is listed on the NYSE in the United States of America (NYSE: BLX), since 1992, and its shareholders include: central banks and state-owned banks and entities representing 23 Latin American countries, commercial banks and financial institutions, and institutional and retail investors through its public listing.

Contact Information:
Carlos Daniel Raad – Chief Investor Relations Officer
E-mail address: ir@bladex.com
Tel: +507 210-8563

https://finance.yahoo.com/news/bladexs-third-quarter-2024-conference-120000283.html

Bladex strengthens its team with Sergio Olarte as Chief Economist

https://finance.yahoo.com/news/bladex-strengthens-team-sergio-olarte-110000867.html

Nice day here at BLX +$1.05

AH close at $33.30!

Im seeing PBR as an ADR, and dividends are irregular so I'll have to pass.

Plus not a fan of investing in the oil industry personally.

I actually just recently bought in, post last PBR dividend record date ( Aug.23 if i recall) so haven't received any dividends yet.

I'm anticipating no foreign taxes to be withheld, but will know for sure when PBR issues their next dividend payment. Will advise.

PBR is common stock, (not ADR), so i'm not 100% sure on the dividend foreign tax policy.

Among the recent news regarding PBR, i was particularly pleased with this news here on PBR entering the Brazilian fertilizer industry:
https://finance.yahoo.com/news/petrobras-accelerates-plan-enter-fertilizer-114100924.html


As a point of information, my dividends recieved on BLX had no foreign tax withheld.

Do you pay foreign tax on these dividends?

Always true.

Invested dividends in PBR ( in around $14.50)

Check it out:
https://finance.yahoo.com/quote/PBR/

Not a big fan of Lulu, however he seems to be o.k.
Luv Brazil.

Fundamentals don't lie.

Smart move, nice recovery here.

Adding here with dividend funds.

So true Bear, i like the way you put that.

BLX performed like the market wants and in return - rejection, fickle indeed.

She'll be back, someday with no expectation and the luv takes it higher.

Speaking of which over at ESPR we are all feeling the rejection, but yet the optimism still is there. i don't know sometimes.

What a strange day. Earnings up 35% YOY and the stock takes a bath.

The market is a fickle lover FM ...

Si, that sounds reasonable.

Doubt that will hold, but a meager 10x earnings valuation puts this in the mid 50's range.

WOW! just checked AH last at $35.45!!

(not sure if that will hold, but looks great at the moment!)

I concur, the foray deeper into Mexico is especialemente of interest.

New Mexican President, she is level headed, visionary and i believe she will lead Mexico well with solid economic fundamentals, in the next 6 years, imo. Management at BLX response by expanding deeper into Mexico is very strategic at this juncture, imo.

BLX is one i am holding long term , not trading.