Banco Latinoamericano de Comercio Exterior, S. A. (BLX) Q4 2025 Earnings Call Transcript
Banco Latinoamericano de Comercio Exterior, S. A. reported Q3 '25 results in line with trends: declining NIMs offset by strong fee income growth. BLX announced a $200 million AT1 perpetual capital raise, supporting future book expansion and maintaining a robust dividend yield near 6%. Fee-based businesses, including Letters of Credit and new Nasdaq FX/derivatives platforms, are driving revenue diversification amid competitive lending conditions.
Bladex continues to deliver strong credit and off-balance sheet growth, offsetting margin pressure and maintaining low credit risk. Service fees are now a major revenue driver, with off-balance sheet commitments and new technology supporting future expansion. Valuation remains attractive with a low P/E, growing dividends, and prudent leverage, despite exposure to global trade cycles.