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Banco Latinoamericano de Comercio Exterior, S.A. issues updates on Bladex, a Panama-based multinational bank established by Latin American and Caribbean central banks to promote foreign trade and regional economic integration. The bank provides financial solutions to financial institutions and corporations across the region, with activity centered on trade finance, lending, deposits, letters of credit, commitments, loan syndication and treasury functions.
Recurring updates include IFRS operating results, net interest income, fee and non-interest income, credit-risk and funding trends, quarterly dividends, debt issuance in regional capital markets, annual report filings, shareholder matters and strategy presentations describing the evolution of its trade-finance franchise and transactional banking platform.
Banco Latinoamericano de Comercio Exterior (Bladex) announced a successful US$400 million bond issuance in the 144A/Reg S market, which was oversubscribed more than four times. The five-year bonds carry a fixed coupon rate of 2.375%. This issuance demonstrates strong investor confidence in Bladex's business model amid challenging economic conditions, aimed at supporting foreign trade and regional integration in Latin America. Moody's and S&P rated the bonds Baa2 and BBB, respectively. The transaction was facilitated by Bank of America, SMBC Nikko Securities, and Mizuho Securities.
Banco Latinoamericano de Comercio Exterior, S.A. (Bladex) announced a quarterly cash dividend of US$0.25 per share for Q2 2020. This dividend is payable on August 25, 2020 to stockholders on record as of August 10, 2020. As of June 30, 2020, the bank had 39,671,940 shares outstanding. Founded in 1979, Bladex supports foreign trade in Latin America and is listed on the NYSE under the ticker BLX.
Banco Latinoamericano de Comercio Exterior (BLX) reported its 2Q20 financial results, showing profit of $14.1 million, a 23% decrease QoQ and 37% YoY. Net Interest Income dropped to $21.7 million, down 16% QoQ and 22% YoY. Total revenues fell 31% YoY to $19.9 million. The Bank's credit portfolio decreased by 16% QoQ to $4.9 billion, reflecting tighter credit standards amid COVID-19. The Tier 1 Basel III Capital Ratio improved to 24.8%. A quarterly dividend of $0.25 per share was approved, payable August 25. Fitch downgraded the Bank's ratings, while Moody's affirmed its ratings with a stable outlook.
Banco Latinoamericano de Comercio Exterior (NYSE: BLX) will host its Second Quarter 2020 Earnings Conference Call on July 28, 2020, at 11:00 a.m. Eastern Time. The call will feature presentations from CEO Jorge Salas and CFO Ana Graciela de Méndez. Investors can participate by dialing U.S. number 1-877-271-1828 or international number 1-334-323-9871 with passcode 89194804#. The earnings release will be available before market open on the same day, alongside a live webcast on the company's website.