Loading…
Banco Latinoamericano de Comercio Exterior, S. A., a multinational bank, engages in financing of foreign trade and economic integration in Latin America and the Caribbean. It operates through Commercial and Treasury segments. The company accepts deposits. It also offers products and services, such as origination of bilateral short- and medium-term loans, structured and syndicated credits, and loan commitments; financial guarantee contracts, including issued and confirmed letters of credit, stand-by letters of credit, guarantees covering commercial risk, and other assets of customers' liabilities under acceptances; and co-financing arrangements, underwriting of syndicated credit facilities, structured trade financing in the form of factoring and vendor financing, and financial leasing. In addition, the company is involved in investment management activities comprising securities at fair value through other comprehensive income and amortized cost. It serves financial institutions, corporations, sovereigns, and state-owned entities. The company was formerly known as Banco Latinoamericano de Exportaciones, S.A. and changed its name to Banco Latinoamericano de Comercio Exterior, S. A. in June 2009. Banco Latinoamericano de Comercio Exterior, S. A. was founded in 1975 and is headquartered in Panama City, the Republic of Panama.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $316M | - | $227M | $777M | 13.5% | 10.9% | 10.2% |
| 2024 | $285M | - | $206M | $-127M | 15.4% | 20.0% | 23.9% |
| 2023 | $237M | - | $166M | $1.1B | 13.8% | 62.4% | 80.5% |
| 2022 | $146M | - | $92M | $-772M | 8.6% | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 146.14 | 237.34 | 284.78 | 315.76 |
| Pretax Income | 92.04 | 166.16 | 205.87 | 226.88 |
| Net Income | 92.04 | 166.16 | 205.87 | 226.88 |
| Net Income Common Stockholders | 92.04 | 166.16 | 205.87 | 226.88 |
| Interest Expense | 184.61 | 446.08 | 525.82 | 497.28 |
| Interest Income | 332.62 | 679.26 | 785.03 | 768.46 |
| Selling General And Administration | 45.42 | 60.76 | 67.75 | 74.38 |
| Normalized Income | 92.04 | 166.16 | 205.87 | 226.88 |
| Basic EPS | 2.54 | 4.55 | 5.60 | 6.11 |
| Diluted EPS | 2.54 | 4.55 | 5.60 | 6.11 |
| Tax Effect Of Unusual Items | 0 | 0 | 0 | 0 |
| Tax Rate For Calcs | 0.30 | 0.30 | 0.30 | 0.30 |
| Total Unusual Items | 0 | 0 | 0 | 0 |
| Total Unusual Items Excluding Goodwill | 0 | 0 | 0 | 0 |
| Net Income From Continuing Operation Net Minority Interest | 92.04 | 166.16 | 205.87 | 226.88 |
| Reconciled Depreciation | 2.71 | 3.09 | 3.56 | 4.83 |
| Net Interest Income | 148.01 | 233.18 | 259.21 | 271.18 |
| Net Income From Continuing And Discontinued Operation | 92.04 | 166.16 | 205.87 | 226.88 |
| Rent Expense Supplemental | 0.72 | 0.69 | 0.88 | 1.11 |
| Diluted Average Shares | 36.30 | 36.48 | 36.74 | 37.15 |
| Basic Average Shares | 36.30 | 36.48 | 36.74 | 37.15 |
| Diluted NI Availto Com Stockholders | 92.04 | 166.16 | 205.87 | 226.88 |
| Net Income Including Noncontrolling Interests | 92.04 | 166.16 | 205.87 | 226.88 |
| Net Income Continuous Operations | 92.04 | 166.16 | 205.87 | 226.88 |
| Special Income Charges | 0 | 0 | 0 | 0 |
| Write Off | 0 | 0 | 0 | 0 |
| Gain On Sale Of Security | -20.93 | -27.51 | -17.78 | -13.89 |
| Depreciation Amortization Depletion Income Statement | 2.71 | 3.09 | 3.56 | 4.83 |
| Depreciation And Amortization In Income Statement | 2.71 | 3.09 | 3.56 | 4.83 |
| Amortization | 0.56 | 0.81 | 1.06 | 1.98 |
| Amortization Of Intangibles Income Statement | 0.56 | 0.81 | 1.06 | 1.98 |
| Depreciation Income Statement | 2.15 | 2.28 | 2.50 | 2.85 |
| Selling And Marketing Expense | 0.56 | 1.01 | 0.99 | 1.30 |
| General And Administrative Expense | 44.87 | 59.75 | 66.76 | 73.07 |
| Other Gand A | 9.04 | 10.90 | 12.59 | 14.73 |
| Rent And Landing Fees | 0.72 | 0.69 | 0.88 | 1.11 |
| Salaries And Wages | 35.11 | 48.16 | 53.29 | 57.23 |
| Operating Revenue | 146.14 | 237.34 | 284.78 | 315.76 |
| Professional Expense And Contract Services Expense | 5.60 | 5.52 | 6.74 | 8.59 |
| Other Non Interest Expense | 0.35 | 1.80 | 0.86 | 1.08 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Banco Latinoamericano de Comercio Exterior, S. A.this co. | BLX | $2.0B | 8.77↓ discount | 1.19 | 13.5% | - |
| Kemper Corporation | KMPR | $2.0B | 13.47 | 0.72 | 5.3% | - |
| OFG Bancorp | OFG | $2.0B | 9.38 | 1.38 | 14.8% | - |
| Skyward Specialty Insurance Group, Inc. | SKWD | $2.0B | 11.00 | 1.80 | 16.8% | 6.94 |
| Patria Investments Limited |
| - |
| PAX |
| $2.0B |
| 18.34 |
| 3.19 |
| 14.6% |
| 12.28 |
| Perella Weinberg Partners | PWP | $2.0B | 45.57 | -11.23 | 13.6% | - |
| Columbia Financial, Inc. | CLBK | $2.0B | 34.62 | 1.69 | 4.5% | - |
| Encore Capital Group, Inc. | ECPG | $1.9B | 6.98 | 1.84 | 26.3% | 8.73 |
| Stellar Bancorp, Inc. | STEL | $1.9B | 18.45 | 1.14 | 6.2% | - |
| Peer Median | - | 15.90 | 1.54 | 14.1% | 8.73 | |