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PANAMA CITY, April 21, 2017 /PRNewswire/ -- Banco Latinoamericano de Comercio Exterior, S.A. (BLX) (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 and economic integration in the Region, today announced its results for the first quarter ("1Q17") ended March 31, 2017.

1Q17 Highlights
Reported results:

Bladex's 1Q17 Profit totaled $23.5 million, up 76% compared to the previous quarter, mostly on lower provisions for expected credit losses ("ECL"), and stable YoY as the effect of higher total income and improved efficiency was offset by provisions for ECL on certain exposures.

Net Interest Income reached $34.4 million in 1Q17 (-9% QoQ, -13% YoY), on lower average loan portfolio balances from continued efforts to reduce country, industry and client concentrations, focus on short-term trade lending, and seasonally lower demand in most countries of the Region.

Fees and Other Income totaled $3.7 million in 1Q17 (-22% QoQ, +31% YoY), on increased business activity in letters of credit, partially offset by lower commissions from the syndication business, while several transactions are currently in process.


cont'd

https://seekingalpha.com/pr/16806143-bladexs-profit-first-qu...

Starrob
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