Stock Track | Banco Latinoamericano Soars 5.29% on Historic Financial Results and Dividend Increase

Stock Track02-28

Banco Latinoamericano de Comercio Exterior SA (Bladex) experienced a significant surge in its stock price, soaring by 5.29% during the pre-market trading session on Friday. This impressive rally was fueled by the company's recent announcement of record-breaking financial results and a substantial increase in its dividend payout.

Bladex reported historic net income of $206 million for the full year 2024, marking a remarkable 24% year-over-year increase. This stellar performance was driven by solid growth in fee income, which reached an all-time high of $44 million, up 37% from the previous year. The increase was attributed to higher activity in syndications and letters of credit, reflecting the success of the company's strategic plan to diversify its income sources.

In recognition of this outstanding financial performance, Bladex's Board of Directors approved a 25% increase in the quarterly dividend, demonstrating confidence in the bank's growth trajectory and commitment to delivering shareholder value. The company's CEO, Jorge Salas, expressed optimism about Bladex's future prospects, stating that the dividend increase reflects the bank's financial strength and ability to sustain profitable growth.

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