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Bladex's Profits for the Third Quarter and Year-to-Date 2017 Amounted to $20.5 Million, or $0.52 per Share, and $61.4 Million, or $1.56 per Share, Respectively, on Lower Provisions and Operating Expenses

-Q17 and 9M17 Profit totaled $20.5 million (+17% QoQ, -27% YoY) and $61.4 million (-17% YoY), respectively, mainly as the effects of lower provisions for expected credit losses ("ECL") were offset by decreased net interest income.

-Net interest income and margin ("NIM") were $91.7 million and 1.87% in 9M17 (-22% and -21 bps YoY); $27.9 million and 1.76% in 3Q17 (-5% and -4 bps QoQ; -30% and -37 bps YoY, respectively). These decreases were a consequence of

i) a YoY lower average loan book from de-risking and diversification efforts;

ii) tighter net lending spreads on excess USD liquidity in markets across the Region; and

iii) the effects from changes in the portfolio mix towards short-term trade exposures.

-The Efficiency Ratio improved to 32% in 3Q17 from 37% in the previous quarter on the back of lower operating expenses (-21% QoQ, from cost reductions and lower non-recurring expenses). The 9M17 efficiency ratio was 33% vs. 27% a year ago, mostly on YoY lower total income.


Mr. Rubens V. Amaral Jr., Bladex's Chief Executive Officer, stated the following regarding the Bank's 3Q17 and 9M17 results: "Markets in our Region continue to experience abundant USD liquidity, resulting, at times, in valuation and asset prices which do not meet our internal risk-reward targets. As in similar market conditions in the past, Bladex continues to privilege adequate pricing over volume growth.

Nevertheless, the decrease in end of period portfolio balances seen in prior quarters slowed markedly, and average portfolio balances remained largely stable QoQ, with continued increases in disbursement activity as market loan demand showed some signs of improvement.

Our origination focused on high-quality short-term trade transactions and contributed to sequentially lower spreads.

Credit exposures with assigned specific reserves to cover expected losses remained limited to a small number of clients, primarily in Brazil.

As you can see we have been able to improve the results QoQ, but we are cognizant of the need to effectively deploy our steadily increasing capital base to deliver on profitability expectations through the credit cycles. The Board of Directors approved to maintain the quarterly dividend payout at $0.385/share, which continues to represent an attractive dividend and demonstrates the Board's confidence in our ability to resume growth and deploy capital more efficiently." Mr. Amaral concluded.
https://finance.yahoo.com/news/bladexs-profits-third-quarter...

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On the bright side:

The Efficiency Ratio improved to 32% in 3Q17 from 37% in the previous quarter on the back of lower operating expenses (-21% QoQ, from cost reductions and lower non-recurring expenses). The 9M17 efficiency ratio was 33% vs. 27% a year ago, mostly on YoY lower total income.

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Thanks to Seeking Alpha for:

Banco Latinoamericano misses by $0.04, misses on total income

Banco Latinoamericano (NYSE:BLX): Q4 EPS of $0.52 misses by $0.04.

Total income of $31.1M (-28.3% Y/Y) misses by $7.02M.

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waiting for the conference call to get book value:
(Last quarter Book value (period average) went up to 25.89 from 25.18 a year ago
Book value (period end) went up to 26.02 from 25.38 a year ago)

Third Quarter 2017
October 20, 2017
11:00 am (ET)
http://www.bladex.com/investors/conference_call

Fool ommmm , kevin c
your Foolish neighborhood BLX ticker guide
long of BLX
please click my screen name for disclosed holding
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No. of Recommendations: 1
There it is on page 13:

Last quarter Book value (period average) went up to 25.89 from 25.18 a year ago
Book value (period end) went up to 26.02 from 25.38 a year ago

This Quarter Book value (period average) went up to 25.93 from 25.30 a year ago
Book value (period end) went up to 26.21 from 25.81 a year ago

So... book value continues to improve with Bladex trading today at 29.10.

- kevin c
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