FACT-MASTER
4 days ago
BLX: Bladex Continues its Expansion in the Mexican Market
PR Newswire
Mon, Jul 22, 2024, 5:55 PM CDT4 min read
In this article:
BLX
+0.94%
With more than 24 years of experience in Mexico, Banco Latinoamericano de Comercio Exterior (Bladex) is moving forward with its strategy to deepen its presence in the country. The expansion of its new offices, the strengthening of its commercial team and its annual disbursements of almost US$5 billion position Bladex as a key player in the growth of Mexican companies. Bladex has been listed on the New York Stock Exchange since 1992 and has been one of the most active issuers on the Mexican Stock Exchange for more than 12 years.
MEXICO CITY, July 22, 2024 /PRNewswire/ -- To strengthen its presence in the Mexican market, Banco Latinoamericano de Comercio Exterior (Bladex) has undertaken a series of activities to send a clear message of its commitment to the country.
Jorge Guemez – Country Manager of Bladex Mexico, Herminio Blanco - Treasurer of the Board, Miguel Heras - Chairman of the Board of Directors, Angélica Ruiz – Director of the Board, Mario Covo - Director of the Board and Jorge Salas - Chief Executive Officer.
Jorge Guemez – Country Manager of Bladex Mexico, Herminio Blanco - Treasurer of the Board, Miguel Heras - Chairman of the Board of Directors, Angélica Ruiz – Director of the Board, Mario Covo - Director of the Board and Jorge Salas - Chief Executive Officer.
Bladex is a multinational bank that began operations in 1979 with the purpose of promoting foreign trade and economic integration in the region. It has been listed on the New York Stock Exchange (symbol: BLX) since 1992 and its shareholders include central banks, banks, and government entities from 23 Latin American countries, as well as financial institutions, institutional investors and individuals.
For Bladex, Mexico represents nearly 15% of the bank's exposure and is the only country in which it maintains local currency loans, with significant growth in new business, syndications and disbursements, which currently exceed US$5 billion per year.
Miguel Heras, Chairman of Bladex's Board of Directors, emphasizes the bank's commitment to Mexico. "In its 5-year business plan, Bladex has chosen Mexico as a pillar of its growth in the region, strengthening its commercial teams and strategic alliances with partners. We have three Mexican directors on our Board of Directors and have established a strategic alliance with the country's development banks.
"Bladex has a clear strategic focus on growing in the coming years with each of our clients, supported by our shareholders and the enthusiasm of investors who see us as a solid institution with a great future."
In this sense, Bladex expects to grow steadily in Mexico in the coming years, based on its track record of more than 24 years in the country, over 12 years as an issuer on the Mexican Stock Exchange and a broad portfolio of clients from diverse productive sectors such as oil & gas, airlines, manufacturing, financial services and automotive, among others.
Bladex's Board of Directors met in Mexico City on July 15th for the inauguration of its new offices, an event that brought together important personalities from the Mexican business and financial sectors, a clear endorsement of the bank and its growth plan for the coming years in the country.
Jorge Salas, CEO of Bladex, emphasized that "The results of this joint commitment to the Mexican market are evident in the diversified loan portfolio, which has grown by 45% in the last 18 months, adding new clients in the construction, energy, finance, auto parts and project finance sectors, and achieving an all-time record in revenues for Bladex Mexico."
Bladex has completed significant transactions in the country, the most recent of which include leading the acquisition finance of Interceramic for US$665 million, the private securitization of Engen for US$150 million, assisting PEMEX in the refinancing of its US$8.3 billion debt, leading the acquisition finance of Trimex for US$300 million and participating in the first project finance in Mexico with ENGIE's Energía Mayakán, among others. Bladex has also been one of the top 10 most active issuers in the Mexican debt market in recent years.
Jorge Güémez, Country Manager of Bladex Mexico, commented: "Bladex remains firmly committed to helping Mexican companies and industries finance their growth, diversification and regional expansion through our extensive experience and knowledge of the region with names such as Lamosa, Trimex, Pemex, Cemex, etc. We also support the onboarding and expansion of Latin American clients in Mexico, including companies such as Carvajal, Bia Foods and Nubank, among others. The recent agreement with Banco Nacional de Comercio Exterior S.N.C. (Bancomext) will undoubtedly be a catalyst in achieving this goal.
"In addition, we are an active participant in the largest marketplace for vendor invoice discounting in Mexico. We have strengthened our commercial team, developed strategic partnerships, and actively collaborated with various Fintech platforms to expand and diversify our product offering and reach more clients and industries. Mexico has put its trust in Bladex and Bladex has trusted Mexico."
On July 24, Bladex will hold its traditional market call to present its second-quarter results. "We have had great support from investors and analysts who have begun to follow our performance and continue to recommend buying our stock," concluded Jorge Salas.
Contact:
Jorge Guemez – Country Manager of Bladex Mexico
E-mail address: jguemez@bladex.com
Tel: + 52 (55) 5280-0822
FACT-MASTER
1 week ago
BLX: Bladex Selects CGI as Partner for Trade Finance Business Evolution, Enabled by the CGI Trade360® Global Technology Platform
PANAMA CITY, July 18, 2024 /PRNewswire/ -- Bladex - Banco Latinoamericano de Comercio Exterior (NYSE: BLX) and CGI (TSX: GIB.A
(NYSE: GIB), one of the world's largest independent business and IT consulting firms, announced an agreement for the implementation of the CGI Trade360 trade technology platform.
Bladex will become the first bank headquartered in Latin America to implement the CGI Trade360 platform, an award-winning software-as-a-service (SaaS) platform utilized by global banks to support trade finance in over 85 countries across Asia, Europe, North America, and Oceanias.
Jorge Salas, Chief Executive Officer of Bladex, emphasized that "At Bladex, we are committed to staying at the technological forefront to continue being a reference in the region.
"We appreciate the partnership with CGI and the future implementation of this powerful technology platform that will allow us to accelerate the deployment of digital solutions which constitutes an important milestone in our continuous service improvement strategy. In this way, we advance in our strategy as a benchmark bank in trade finance solutions in Latin America."
The implementation of CGI Trade360 at Bladex, delivered by CGI's U.S. and global delivery teams, will provide the infrastructure and support needed to improve the bank's regional and global trade business, optimize letter of credit processing, and significantly enhance working capital solutions as well as security and operational transparency. This will enable Bladex's corporate clients to manage their financial needs swiftly and accurately on a unified, integrated, and global platform.
"We look forward to our new partnership with Bladex, a bank with over 40 years of recognized experience in the region's trade finance," said Frank Tezzi, Vice-President, Consulting Services, Trade and Supply Chain Solutions at CGI. "With the implementation of CGI Trade360, Bladex joins the ranks of leading global banks leveraging our technology. Together, we are advancing Bladex's growth strategy and delivering the capabilities required to achieve its business objectives."
Mauricio Quintana, Senior Vice President of Trade Services Products at Bladex, added, "We continue to innovate in our commitment to offer an excellent user experience through a world-class platform that is easily accessible, integrates essential information in real-time, combined with the latest trade finance solutions."
CGI Trade360 supports more than 50 products in the areas of traditional trade, payables, receivables, cash management, and others. It delivers a powerful digital experience for bank clients, suppliers, and trade operations teams, while giving banks the ability to scale their trade business, both globally and regionally, with consistency and confidence. Learn more at cgi.com/cgitrade360.
About Bladex.
Bladex is one of the banking industry's references in foreign trade in Latin America and the Caribbean. Headquartered in Panama, Bladex is a multinational bank with a presence in several countries in Latin America and the Caribbean. Founded in 1979 to promote foreign trade financing and economic integration in the region, Bladex has been listed on the New York Stock Exchange for over three decades and the Mexican Stock Exchange for over 10 years. This presence has allowed Bladex to attract shareholders from central banks and state entities in 23 Latin American countries, as well as commercial banks, financial institutions, institutional investors, and individuals.
Bladex also has representative offices in Mexico, Argentina, Brazil, Colombia, and the United States of America, as well as a representative license in Peru, to support regional development and meet the needs of its diverse client base, which includes financial institutions and corporations.
About CGI
Founded in 1976, CGI is among the largest independent IT and business consulting services firms in the world. With 90,000 consultants and professionals across the globe, CGI delivers an end-to-end portfolio of capabilities, from strategic IT and business consulting to systems integration, managed IT and business process services and intellectual property solutions. CGI works with clients through a local relationship model complemented by a global delivery network that helps clients digitally transform their organizations and accelerate results. CGI Fiscal 2023 reported revenue is (CA)$14.30 billion and CGI shares are listed on the TSX (GIB.A) and the NYSE (GIB).
whytestocks
4 years ago
News: $BLX Bladex Reports A Quarterly Profit Of $14.1 Million, Or $0.36 Per Share, With Solid Credit Collections And Ample Liquidity Levels
PANAMA CITY , July 28, 2020 /PRNewswire/ -- Banco Latinoamericano de Comercio Exterior, S.A. (NYSE: BLX, "Bladex", 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...
Got this from BLX - Bladex Reports A Quarterly Profit Of $14.1 Million, Or $0.36 Per Share, With Solid Credit Collections And Ample Liquidity Levels
whytestocks
5 years ago
News: $BLX Bladex Announces Profit for the Second Quarter 2019 of $22.3 Million, or $0.56 Per Share; Half-Year 2019 Profit of $43.5 Million, or $1.10 Per Share
PANAMA CITY , July 19, 2019 /PRNewswire/ -- Banco Latinoamericano de Comercio Exterior, S.A. (NYSE: BLX, "Bladex", 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...
Got this from Bladex Announces Profit for the Second Quarter 2019 of $22.3 Million, or $0.56 Per Share; Half-Year 2019 Profit of $43.5 Million, or $1.10 Per Share
justin663
9 years ago
Motley Fool, "Can BLX grow as Latin America.."
http://www.fool.com/investing/international/2015/07/14/can-bladex-grow-even-as-latin-america-stumbles.aspx
& response below
good commentary. I feel there are many opportunities for this stock to grow & the region to grow in my humble opinion
1. Sri-Kumar of Global Strategies is Bullish on Brazil. He goes there several times a year. though Brazil is down now, "Brazil always bounces back & I am bullish on Brazil" quote Sri-Kumar. BLX holds a significant portion of loans in Brazil.
2. Potential Nicaraguan Canal. Even if the canal doesn't get built, Nicaragua has stabilized & in my opinion offers the best opportunity for growth 2nd too..
3. Cuba...all eyes on Cuba.. this is a huge opportunity for BLX
4. P/E ratio 8. hmm, in an overvalued market, what more could you ask for
5. Dividend 6% . after current smackdown in price, annual dividend is now over 6%.
6. this , BLX company, is the equivalent of the "Central Bank" of Latin America. though it may not be fair, can central bankers really loose?
7. with weakening USA stats & China's devaluation of currency, can the FED really raise rates now in September?
8. Even if the Fed did raise rates in September, I believe, again in my opinion, that by the time they announce raising at the next FOMC meeting, the stock will have already priced in the rise and go upward , it's the old attage, buy on rumour sell on fact, well in this case, sell on rumour buy on fact.
justin663
9 years ago
first quarter earnings exceed analyst estimate of .71 cents a share! BLX
Bladex First Quarter 2015 Net Income Reached $28.8 Million, Or $0.74 Per Share (+23% YoY)
3 days 20 hours 34 minutes ago - DJNF
PANAMA CITY, April 16, 2015 /PRNewswire/ -- Banco Latinoamericano de Comercio Exterior, S.A. (NYSE: BLX, "Bladex", or "the Bank"), a Panama-based supranational bank established by the central banks of 23 Latin-American and Caribbean countries to promote foreign trade finance and economic integration in the Region, today announced its results for the first quarter ended March 31, 2015.
First Quarter 2015 Highlights
Reported results:
-- Bladex's first quarter 2015 ("1Q15") Net Income totaled $28.8 million
(+23% YoY; -20% QoQ), on year-on-year improvements in business income
(+10% YoY) and non-core results.
-- Net interest income totaled $35.8 million in 1Q15 (+11% YoY; -7% QoQ),
mainly from higher year-on-year average loan portfolio balances and
higher net margins resulting primarily from lower average funding costs.
-- Fees and Other Income totaled $2.8 million in 1Q15, on lower balances in
the letters of credit business, while there were no fees from closed
transaction recorded in the loan intermediation and syndication business,
as several transactions still remain in progress.
Key performance metrics:
-- The Bank's 1Q15 annualized return on average equity ("ROAE") reached
12.6% versus 10.9% in 1Q14 and 15.7% in 4Q14.
-- Net interest spread and net interest margin in 1Q15 was 1.68% (+6 bps
YoY; -8 bps QoQ), and 1.84% (+5 bps YoY; -8 bps QoQ), respectively. The
YoY improvement was mainly driven by higher average loan portfolio
balances (+9%) and lower average funding costs (-7 bps).
-- The 1Q15 Business Efficiency Ratio, which excludes non-core revenues and
expenses, was 33% (-2 pts. YoY; +1 pt. QoQ), as business operating
revenues increased 7% YoY and decreased 14% QoQ, while business operating
expenses decreased 1% YoY and 11% QoQ.
Credit Growth & Quality:
-- Average Commercial Portfolio balances amounted to $7.1 billion in 1Q15
(+8% YoY; -2% QoQ), while the end-of-period Commercial Portfolio balances
stood at $7.1 billion as of March 31, 2015 (+7% YoY; -1% QoQ).
-- Non-accrual loans to total loan portfolio balances amounted to 0.32% as
of March 31, 2015, while the ratio of the allowance for credit losses to
the Commercial Portfolio ending balances was 1.23% (+5 bps YoY; +3 bps
QoQ). The credit provision to non-performing loan balances ratio was 4.2
times as of March 31, 2015.
FINANCIAL SNAPSHOT
(US$ million, except percentages and per share
amounts) 1Q15 4Q14 1Q14
------------------------------------------------------ ------ ------ ------
Key Income Statement Highlights
Operating revenues $42.2 $51.8 $36.5
Operating expenses $13.0 $14.5 $13.5
Business Net Income(1) $26.4 $30.5 $24.0
Non-Core Items (2) $2.5 $5.6 ($0.5)
Net Income attributable to Bladex Stockholders(3) $28.8 $36.1 $23.5
Profitability Ratios
Earnings per Share ("EPS") (4) $0.74 $0.93 $0.61
Return on Average Equity ("ROAE") 12.6% 15.7% 10.9%
Business ROAE(5) 11.5% 13.2% 11.2%
Business Return on Average Assets 1.35% 1.52% 1.34%
Net Interest Margin ("NIM") 1.84% 1.92% 1.79%
Net Interest Spread ("NIS") 1.68% 1.76% 1.62%
Efficiency Ratio 31% 28% 37%
Business Efficiency Ratio (6) 33% 32% 35%
Assets, Capital, Liquidity & Credit Quality
Commercial Portfolio $7,093 $7,187 $6,610
Treasury Portfolio $393 $393 $353
Total Assets $7,955 $8,025 $7,179
Market capitalization $1,276 $1,167 $1,021
Tier 1 Basel I Capital Ratio (7) 16.2% 15.3% 16.4%
Leverage (times) (8) 8.4 8.8 8.1
Liquid Assets / Total Assets (9) 11.6% 9.2% 8.0%
Non-Accruing Loans to Total Loans, net of discounts 0.32% 0.06% 0.05%
Allowance for Credit Losses to Commercial Portfolio 1.23% 1.20% 1.18%
Credit provision to non-performing loan balances
(times) 4.2 21.4 24.9
------------------------------------------------------ ------ ------ ------
CEO's Comments
Mr. Rubens V. Amaral, Jr., Bladex's Chief Executive Officer, stated the following regarding the Bank's First Quarter 2015 results: "Allowing for seasonal effects not uncommon in our business during the early part of the year, we are pleased to report solid results for the first quarter of 2015.
Weakness in commodity prices, especially so in the case of oil products, has put a damper on origination volumes, even as demand continues to be strong. We have managed to compensate these effects by diversifying into other sectors, such as financial institutions, food and beverage, retail trade, among others, and remain committed to privilege well priced business over sheer volume growth.
Regarding credit quality, we are carefully watching and managing our exposures in order to proactively address and minimize any potential impact on the bottom line, and with that we have only had to make minor adjustments to our reserve coverage levels. As confident as we are regarding the quality of our book of business, we continue to remain vigilant in case the operating environment for our client base suffers any adverse changes.
Operating performance remains on track, and continues to show year-on-year improvements. On the fee income side, we are also making good progress even in the absence of a completed structured transaction this quarter. Our letters of credit business is diversifying away from higher risk environs, and the pipeline of transactions being worked on looks strong, leading us to remain confident regarding our ability to reach our fee income targets this year.
We are aware of the headwinds impacting the economic development of the Region, with 2015 growth estimates now being lowered to levels similar to last year's. Nevertheless, we believe that Bladex continues to be very well positioned to thrive in this environment." Mr. Amaral concluded.
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Huggy Bear
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