The following is a summary of the Banco Latinoamericano De Comercio Exterior, S. A. (BLX) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Banco Latinoamericano reported a Q1 2024 net income of $51.3 million, an 11% increase from Q4, reflecting a 39% year-on-year rise.

• Credit book and deposits rose by 3% and 7% quarter-over-quarter respectively, and 12% and 32% year-on-year correspondingly.

• Return on Equity for Q1 2024 stood at 16.8%, marking an increase of 126 points from the previous quarter.

• Net interest income and fee income were up at $62.9 million and $9.5 million respectively, representing increases from the same period last year.

Business Progress:

• The bank is set to announce the selection of two new IT platforms focused on trade finance solutions and treasury management.

• These initiatives are projected to contribute approximately 10% of the total revenue by 2026 and align closely with the bank's five-year strategic transition from optimization to expansion.

• Future plans also include offering hedging products for the purpose of covering foreign exchange and interest rate risks.

• Banco Latinoamericano remains consistent with their 2024 guidance and aims to sustain current profitable levels.

More details: Banco Latinoamericano de Comercio Exterior IR

Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.