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

Rhea-AI Summary

Bladex (NYSE: BLX) reported 4Q25 net profit of $56.0 million ($1.50/share) and FY25 net profit of $226.9 million ($6.11/share), respectively up 9% and 10% year-over-year. Revenue growth, fee expansion and disciplined credit and cost management supported results.

Key metrics: Credit portfolio $12,599M, deposits $6,604M, liquid assets $1,911M (14.9% of assets), Tier 1 ratio 17.4%, and a quarterly dividend of $0.6875 to be paid March 12, 2026.

Positive

• Net profit +10% FY25 to $226.9M
• Fees and non-interest income +54% FY25 to $68.4M
• Credit portfolio +12% YoY to $12,599M
• Deposits +22% YoY to $6,604M
• Tier 1 ratio of 17.4% (Basel III)

Negative

• NIM compressed to 2.36% FY25 (-11bps YoY)
• Efficiency ratio rose to 26.7% in FY25
• Impaired credits at 0.3% of portfolio with 2.8x coverage

Key Figures

Net profit 4Q25: $56.0M Net profit 2025: $226.9M EPS 4Q25: $1.50 +5 more

8 metrics

Net profit 4Q25 $56.0M Fourth quarter 2025, +9% YoY

Net profit 2025 $226.9M Full-year 2025, +10% YoY

EPS 4Q25 $1.50 Earnings per share, fourth quarter 2025

EPS 2025 $6.11 Earnings per share, full-year 2025

Net interest income 2025 $271.2M FY25 NII, +5% YoY

Net interest margin 2025 2.36% FY25 NIM, -11 bps YoY

Credit portfolio $12,599M All-time high balance as of Dec 31, 2025

Quarterly dividend $0.6875/share 4Q25 common dividend, up from $0.625

Market Reality Check

Price: $49.68 Vol: Volume 120,755 is below t...

normal vol

$49.68 Last Close

Volume Volume 120,755 is below the 159,655 20-day average (relative volume 0.76x). normal

Technical Price $49.68 is above the $43.90 200-day MA and 1.64% below the 52-week high.

Peers on Argus

BLX was up 0.97% while key regional bank peers like NWBI (-1.45%), CASH (-2.10%)...

BLX was up 0.97% while key regional bank peers like NWBI (-1.45%), CASH (-2.10%) and FCF (-1.35%) traded lower, pointing to a stock-specific reaction to its results.

Historical Context

5 past events · Latest: Jan 30 (Neutral)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Jan 30	Conference call	Neutral	-0.6%	Announcement of date and details for upcoming 4Q25 results call.
Jan 20	Funding transaction	Positive	-0.5%	Closing of US$150M global syndicated loan diversifying funding sources.
Jan 15	Investor day announcement	Positive	+3.2%	Planned investor day outlining 2030 strategy and trade banking platform shift.
Oct 29	Quarterly earnings	Positive	+0.4%	3Q25 results with record commercial portfolio, deposits and solid profitability.
Oct 28	Dividend declaration	Positive	-0.8%	Announcement of US$0.625 quarterly cash dividend for 3Q25.

Pattern Detected

Recent history shows several instances where positive corporate updates were followed by modestly negative 1-day moves, suggesting a tendency for the stock to sometimes fade good news.

Recent Company History

Over the past six months, BLX has reported multiple strong operational updates, including record commercial portfolio and deposit growth, solid 3Q25 results, and a new syndicated loan. It also maintained a regular dividend stream and scheduled events like an investor day and earnings calls. Price reactions have been mixed, with some positive news accompanied by small pullbacks and others aligning with gains. Today’s FY25 and 4Q25 report builds directly on this trajectory of growing profitability, expanding credit portfolios, and stable asset quality.

Market Pulse Summary

This announcement highlights robust FY25 performance, with net profit of $226.9 million, EPS of $6.1...

Analysis

This announcement highlights robust FY25 performance, with net profit of $226.9 million, EPS of $6.11, and an all‑time high credit portfolio of $12,599 million. Net interest income and fee-based revenues grew, while net interest margins compressed modestly amid competitive conditions. Asset quality indicators remained strong and capital ratios exceeded regulatory minimums. The 10% dividend increase underlines confidence in earnings. Investors may focus on future margin trends, fee growth, and credit quality to assess ongoing profitability.

Key Terms

ifrs, net interest margin, non-performing loans

3 terms

ifrs financial

"prepared in accordance with International Financial Reporting Standards ("IFRS")"

International Financial Reporting Standards (IFRS) are a set of common accounting rules used by many companies worldwide to prepare financial statements, so numbers like revenue, profit and assets are measured in the same way across borders. For investors, IFRS matters because it makes it easier to compare the financial health and performance of different companies—like using the same ruler to measure different objects—reducing surprises and helping informed investment decisions.

net interest margin financial

"Net Interest Margin ("NIM") stood at 2.39% for 4Q25"

Net interest margin measures how much a bank earns from lending and investing compared with what it pays for funding, expressed as a percentage of its interest-earning assets. Think of it like a grocery store’s markup: it shows the gap between buying cost and selling price per dollar of goods — here, the cost is interest paid and the sale is interest received. Investors watch it because a higher margin usually means a bank is more profitable and better at managing interest rate and credit conditions.

non-performing loans financial

"Credit-impaired loans are also commonly referred to as Non-Performing Loans or NPLs."

Loans on a bank’s books where the borrower has stopped making scheduled payments for a prolonged period (commonly about 90 days), so the lender no longer expects full repayment on time. Think of them as overdue IOUs that may never be paid back; a rising level of such loans weakens a lender’s earnings and balance sheet, signals greater credit risk in the economy, and can hurt investors through lower dividends, loan losses, or declines in the lender’s stock value.

AI-generated analysis. Not financial advice.

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 Highlights

Solid 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)	4Q25	3Q25	4Q24	2025	2024
Key Income Statement Highlights
Net Interest Income ("NII")	$70.8	$67.4	$66.9	$271.2	$259.2
Fees and commissions, net	$14.5	$14.1	$11.9	$59.0	$44.4
Gain (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	$0.5
Total revenues	$88.8	$82.8	$78.4	$339.6	$303.6
Impairment 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	$5.60
Return 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	$11,224
Commercial Portfolio (9)	$11,184	$10,872	$10,035	$11,184	$10,035
Investment Portfolio	$1,415	$1,414	$1,189	$1,415	$1,189
Total Assets	$12,786	$12,498	$11,859	$12,786	$11,859
Total Equity	$1,679	$1,646	$1,337	$1,679	$1,337
Market Capitalization (10)	$1,660	$1,712	$1,309	$1,660	$1,309
Tier 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)	7.6	7.6	8.9	7.6	8.9
Liquid 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 Portfolio	0.3 %	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)	2.8	5.4	5.0	2.8	5.0

Recent Events

Quarterly 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.

Notes

• Numbers 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.

Footnotes

1. 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 (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.
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.
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 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, 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 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, 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 Information

There 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

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SOURCE Bladex

FAQ

What were Bladex (BLX) net profits for 4Q25 and FY25?

Bladex reported $56.0M net profit in 4Q25 and $226.9M for FY25. According to Bladex, those represent +9% and +10% year-over-year increases driven by revenue diversification and cost discipline.

How did Bladex (BLX) perform on revenue and fees in 2025?

Total revenues reached $339.6M in 2025 with fees and non-interest income of $68.4M. According to Bladex, fee growth came from trade-finance, structuring, derivatives and secondary-market loan activity.

What is Bladex (BLX) balance sheet strength and liquidity at December 31, 2025?

Bladex held liquid assets of $1,911M (14.9% of assets) and deposits of $6,604M. According to Bladex, liquidity largely consists of Fed placements and supports access to interbank and debt markets.

Did Bladex (BLX) change its dividend after 2025 results and when is it payable?

The Board approved a quarterly dividend of $0.6875 per share, a 10% increase. According to Bladex, the cash dividend will be paid on March 12, 2026 to shareholders of record on February 25, 2026.

How did credit quality and capital metrics look for Bladex (BLX) in 4Q25?

Credit portfolio was $12,599M with impaired credits of 0.3% and total allowance coverage 2.8x; Tier 1 ratio was 17.4%. According to Bladex, most exposures remain Stage 1 and capital ratios exceed regulatory minima.