Banco Latinoamericano de Comercio Exterior
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Banco Latinoamericano de Comercio Exterior (BLX) investor relations material

Banco Latinoamericano de Comercio Exterior Q4 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q4 2025 earnings summary13 Feb, 2026

Executive summary

  • Achieved fourth consecutive year of record results, with net income reaching $227 million for FY 2025, up 10% year-over-year, and all 2025 guidance metrics met despite global volatility and declining rates.

  • Commercial portfolio grew 11.5% year-over-year to $11.2B, with strong loan and contingent portfolio expansion.

  • Deposits increased 22% year-over-year to $6.6B, now 62% of total funding, and Yankee CD program reached $1.5 billion.

  • Non-interest income hit a record $68.4M, up 54% year-over-year, supporting revenue diversification.

  • Successfully completed first AT1 issuance, strengthening capital structure.

Financial highlights

  • Net interest income grew 5% year-over-year to $271.2 million, supported by volume growth and active balance sheet management.

  • Net interest margin for 2025 was 2.36%, above guidance but down 11 bps year-over-year.

  • Efficiency ratio was 26.7% for 2025, reflecting cost discipline and aligned with guidance.

  • Adjusted ROE for 2025 was 15.8%, with Q4 adjusted ROE at 14.2%.

  • ROA for FY 2025 was 1.9%, stable year-over-year.

Outlook and guidance

  • 2026 expected as a transition year, with commercial portfolio and deposit growth guidance of 13%-15%.

  • Net interest margin expected around 2.3%, efficiency ratio near 28%, and ROE between 14%-15%.

  • Fee income for 2026 targeted at 18%-20% of total revenues, similar to 2025.

  • Tier I capital ratio guidance set at 15–16%.

  • Two additional rate cuts anticipated in 2026, with continued focus on disciplined growth and risk management.

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Frequently asked questions

Banco Latinoamericano de Comercio Exterior S.A. (BLX), also known as Bladex, is a multinational bank specializing in financing foreign trade in Latin America and the Caribbean. Founded in 1977 and originally named Banco Latinoamericano de Exportaciones, S.A., Bladex was the first Latin American bank to be listed on the New York Stock Exchange (NYSE) in 1992. The bank operates through commercial and treasury segments, providing a range of financial services including short and medium-term bilateral, structured, and syndicated credits, loan commitments, and trade finance solutions. Bladex's founding shareholders include Central Banks and government entities fromover 20 countries in the region. The company is headquartered in Panama City, Panama, and its shares are listed on the NYSE.

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