Bladex’s Credit Portfolio Grows 15% in the Third Quarter, Reaching US$16,584 Million

October 26, 2026

Bladex (NYSE: BLX) today announced its financial results for the third quarter of 2026. Its Credit Portfolio reached US$16,584 million as of September 30, representing growth of 15% compared to the previous quarter and 35% compared to the same period in 2025, in line with the Bank’s profitable growth strategy.


During the third quarter, the Bank recorded a 15% year-over-year increase in Net Profit, reaching US$63.2 million, equivalent to US$1.48 per share. For the first nine months of the year, Net Profit totaled US$186.0 million, 9% higher than in the same period of 2025, representing US$4.56 per share.


“The third quarter confirms Bladex’s ability to grow profitably in a complex global environment. Latin America has shown resilience, maintaining growth close to its historical average and risk perception near historical lows. These results keep us on track with our 2030 Strategy and our commitment to generating sustainable value for our clients, shareholders, and the region’s economic integration,” said Jorge Salas, CEO of Bladex.


Third Quarter 2026 Highlights

  • Growth: The Credit Portfolio increased 15% compared to the previous quarter and 35% year over year.
  • Profitability: Adjusted Annualized Return on Equity reached 15.0%.
  • Revenue: Net Interest Income reached a record US$79.8 million, while Fees and non-interest income grew 26% year over year.
  • Asset quality: 99.1% of the Credit Portfolio remained classified as Stage 1.

 

Third Quarter Results


Credit Portfolio and Asset Quality
The Credit Portfolio consisted of a Commercial Portfolio of US$14,976 million, representing year-over-year growth of 38%, and a Treasury Investment Portfolio of US$1,608 million, an increase of 14% year over year.


Asset quality remained strong, with 99.1% of the Credit Portfolio classified as Stage 1 at the end of the quarter. Stage 2 exposures represented 0.5%, while impaired credits or Stage 3 principal balance totaled US$75.1 million, equivalent to 0.4% of the total Credit Portfolio, with reserve coverage of 1.4x.


Revenue and Efficiency
Net Interest Income (NII) reached record levels of US$79.8 million in the third quarter and US$223.3 million for the first nine months of the year, representing year-over-year increases of 18% and 11%, respectively. Net Interest Margin (NIM) stood at 2.30% for the quarter and 2.29% for the first nine months.


Fees and non-interest income reached US$19.3 million during the quarter, up 26% year over year, and US$57.9 million for the first nine months, up 15% year over year. Income from the intermediation of financial instruments contributed US$2.6 million during the quarter.


The Efficiency Ratio stood at 25.8% for the quarter and 25.4% for the first nine months of the year.


Adjusted Annualized Return on Equity reached 15.0% for the quarter and 15.2% for the first nine months of 2026. Including the effect of the AT1 issuance completed in September 2025, annualized Return on Equity stood at 14.2% and 14.3%, respectively.


Funding, Liquidity and Capital
The deposit base reached US$7,912 million, equivalent to 56% of the Bank’s total funding sources. Bladex maintained a liquidity position of US$1,960 million, equivalent to 12% of total assets. Capital levels remained above the Bank’s internal targets and regulatory requirements, with a Tier 1 Basel III Capital Ratio of 16.2% and a Regulatory Capital Adequacy Ratio of 14.3%.


“Our quarterly performance combines growth with financial discipline. The diversification of our funding sources and our liquidity and capital position provide us with the flexibility to support our clients’ needs and continue growing prudently,” said Annette van Hoorde de Solís, CFO of Bladex.


Regional Environment
The IMF projects 2.3% growth for Latin America in 2026, a moderate rate close to the region’s historical average, amid a highly uncertain global environment, restrictive financial conditions, and rising geopolitical tensions.


The impact of the energy shock varies across countries. Net exporters of hydrocarbons and energy benefit from improved terms of trade and, in some cases, higher production. Meanwhile, net energy-importing economies have mitigated the impact through stronger external positions and the credibility of their inflation-targeting regimes.


In addition, improvements in external sustainability indicators, the adoption of fiscal responsibility rules, the diversification of growth sources, support from IMF programs, and more market-oriented economic policies have contributed to keeping sovereign risk indicators near historical lows during the third quarter.


Finally, the evolution of El Niño remains a factor to monitor due to its potential effects on regional activity, particularly agricultural production, hydropower generation, inflation, and infrastructure. Its impacts are heterogeneous: northern Latin America typically faces droughts and water stress, while the southern part of the region tends to experience above-average rainfall. Countries such as Peru, Ecuador, and Brazil may face both droughts and excessive rainfall.