Bladex reports record financial results for the second quarter of 2025
Banco Latinoamericano de Comercio Exterior – Bladex – (NYSE: BLX), today announced its financial results for the second quarter of 2025, reporting a net income of $64.2 million, or $1.73 per share, representing a 28% increase compared to the same period last year.
This performance translates into an annualized return on equity (ROE) of 18.5%, up 222 basis points from the second quarter of 2024.
For the first half of the year, cumulative net income reached $115.9 million, a 14% year-over-year increase, driven by strong revenues, stable credit provisioning, and higher operational efficiency.
“The success of these results reflects the Bank’s ability to execute its strategy with discipline, respond with agility to changes in the financial environment, and strengthen its value proposition to clients. We continue to consolidate our business model across the region with a focus on efficiency, innovation, and sustainable growth,” said Jorge Salas, CEO of Bladex.
During the second quarter of 2025, Bladex recorded Net Interest Income (NII) of $67.7 million, the highest in its history, driven by greater business volume and margin stability. Despite a highly liquid U.S. dollar market environment that created competitive pressures, the Net Interest Margin (NIM) remained strong at 2.36%.
Fee income also reached a record level of $19.9 million, representing a 59% increase compared to the second quarter of the previous year. This performance was supported by the execution of the largest structured transaction in the Bank’s history, along with higher income from letters of credit and credit commitments.
In terms of operating efficiency, the efficiency ratio stood at 23.1%, reflecting disciplined cost management, even as the Bank continues to invest in technology, modernization, and other strategic initiatives.
The Bank’s credit portfolio reached a new all-time high of $12.2 billion, up 18% year-over-year. Within this figure, the commercial loan portfolio closed the quarter at $10.8 billion, also a record, driven by 25% growth in off-balance sheet business, in response to strong demand across all credit products.
Meanwhile, the investment portfolio totaled $1.4 billion, primarily composed of investment-grade securities outside of Latin America, which reinforces geographic and credit risk diversification, while providing contingent liquidity.
The Bank’s asset quality remained healthy, with 97.9% of the portfolio classified in Stage 1 (low risk). Non-performing loans or Stage 3 assets accounted for just 0.2% of the total portfolio, with a robust reserve coverage of 5.1x.
In terms of funding, the Bank’s deposits rose to $6.4 billion, a 23% year-over-year increase and a new record, now representing 62% of total funding sources—four percentage points higher than the previous quarter. In addition, the Bank maintained broad and steady access to interbank and capital markets, highlighted by the recent MXN 2 billion bond issuance in the Mexican capital markets.
The Bank's liquidity position also remained solid, totaling $1.96 billion—equivalent to 15% of total assets as of the end of June 2025—composed mostly of deposits held at the Federal Reserve Bank of New York.
Finally, the Bank’s capital indicators remained strong and well within its risk appetite parameters. The Common Equity Tier 1 capital ratio under Basel III stood at 15.0%, while the regulatory capital adequacy ratio reached 13.9%, supported by the period’s solid earnings generation.
