BLX · Banco Latinoamericano de Comercio Exterior, S. A.

Banco Latinoamericano de Comercio Exterior, S.A. (Bladex) reported unaudited results for the first quarter ended March 31, 2026. Net income increased to $56.4 million from $51.7 million in the same period last year, a 9% rise. The improvement was driven by higher net interest income, which grew to $70.2 million from $65.3 million, as total interest income remained relatively stable at $185.9 million (down from $189.4 million) while interest expense decreased to $115.7 million from $124.2 million, reflecting lower borrowing costs. Total other income, net, was essentially flat at $12.9 million versus $12.7 million. Impairment losses on financial instruments decreased to $4.7 million from $5.2 million. Operating expenses increased slightly to $22.0 million from $21.0 million, primarily due to higher other expenses and amortization. Basic earnings per share declined to $1.31 from $1.40, as the weighted average basic shares outstanding increased to 37.4 million from 36.9 million, largely due to stock compensation and vesting of restricted stock units. Total comprehensive income for the quarter was $60.2 million, up from $54.8 million, including other comprehensive income of $3.8 million. The balance sheet expanded, with total assets reaching $13.7 billion as of March 31, 2026, compared to $12.8 billion at year-end 2025, driven by growth in loans and investment securities. Customer deposits increased to $7.3 billion from $6.6 billion, and borrowings and debt rose to $4.1 billion from $4.0 billion. Equity grew to $1.71 billion from $1.68 billion, supported by retained earnings and other comprehensive income. The bank declared dividends and coupons totaling $33.3 million in the quarter, up from $23.2 million in the prior-year period. Overall, Bladex demonstrated solid earnings growth and balance sheet expansion, with improved net interest margin and lower credit impairment costs.