Bladex Q3 profit rises on higher fee income

Overview

• Banco Latinoamericano de Comercio Exterior, S.A. "Bladex" Q3 net profit rises 4% YoY to $55 mln, driven by strong fee income

• Company's Q3 revenue at $82.8 mln, supported by fee and net interest income

• Bladex maintains strong capital position with $200 mln AT1 issuance

Outlook

• Bladex did not provide specific future financial guidance in its press release

Result Drivers

• FEE INCOME GROWTH - Fee income increased by 34% YoY, driven by performance in letters of credit and credit commitments

• CREDIT PORTFOLIO EXPANSION - Credit portfolio reached a new high, supported by steady credit demand across business products

• NET INTEREST INCOME - Net interest income rose 1% YoY due to higher average business volumes

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the corporate financial services peer group is "buy"

• Wall Street's median 12-month price target for Foreign Trade Bank of Latin America Inc is $49.75, about 9.8% above its October 28 closing price of $44.88

• The stock recently traded at 7 times the next 12-month earnings vs. a P/E of 7 three months ago

Press Release: ID:nPn3L8tnNa

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)