Banco Latinoamericano De Comercio (BLX)
NYSE:BLX
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Banco Latinoamericano De Comercio
(NYSE:BLX)
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Rating:70Outperform
Price Target:
$55.00
â–˛(21.87% Upside)
Action:ReiteratedDate:03/31/26
BLX scores well due to attractive valuation (low P/E and strong dividend) and a constructive technical trend, supported by generally positive earnings-call guidance and strong asset-quality commentary. The main constraint is fundamental volatility, highlighted by the sharp 2025 revenue decline and historically inconsistent cash flow, which limits the financial performance score.
Positive Factors
Deposit-funded balance sheet
Sustained 22% deposit growth and a 62% deposit funding mix materially strengthen funding stability and reduce reliance on wholesale funding. This durable funding base supports portfolio expansion, lowers funding-cost volatility, and improves resilience for trade-finance lending across Latin America.
Negative Factors
Top-line volatility
Large swings in revenue, including a steep 58% decline in 2025 after prior growth, signal unstable top-line drivers. Such volatility undermines predictability of earnings, cash generation and provisioning, complicating multi-period planning for capital allocation and shareholder returns.
Read all positive and negative factors
Positive Factors
Negative Factors
Deposit-funded balance sheet
Sustained 22% deposit growth and a 62% deposit funding mix materially strengthen funding stability and reduce reliance on wholesale funding. This durable funding base supports portfolio expansion, lowers funding-cost volatility, and improves resilience for trade-finance lending across Latin America.
Read all positive factors
Banco Latinoamericano De Comercio (BLX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.83B
Dividend Yield5.67%
Average Volume (3M)152.23K
Price to Earnings (P/E)7.3
Beta (1Y)0.53
Revenue Growth1.35%
EPS Growth9.65%
CountryUS
Employees175
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)1.50
Shares Outstanding28,736,597
10 Day Avg. Volume185,638
30 Day Avg. Volume152,231
Financial Highlights & Ratios
PEG Ratio0.80
Price to Book (P/B)0.99
Price to Sales (P/S)4.88
P/FCF Ratio4.47
Enterprise Value/Market Cap2.29
Enterprise Value/Revenue5.86
Enterprise Value/Gross Profit13.24
Enterprise Value/Ebitda18.27
Forecast
1Y Price Target
$66.60Price Target Upside47.57% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)6.26
Revenue Forecast (FY)$363.50M
Banco Latinoamericano De Comercio Business Overview & Revenue Model
Company Description
Banco Latinoamericano de Comercio Exterior, S. A., a multinational bank, primarily engages in the financing of foreign trade in Latin America and the Caribbean. The company operates through two segments, Commercial and Treasury. It offers short an...
How the Company Makes Money
Bladex makes money primarily through net interest income and fee-based income generated from trade finance and related banking activities. The core revenue engine is lending and credit intermediation: the bank extends short- and medium-term financ...
Banco Latinoamericano De Comercio Earnings Call Summary
Earnings Call Date:Feb 12, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 06, 2026
Earnings Call Sentiment Positive
The call presents a largely positive performance narrative: Bladex delivered record results across net income, revenue diversification, deposit growth and asset quality while strengthening capital and liquidity. Management acknowledges margin pressure from rate cuts, higher operating investments and isolated credit items, and expects a competitive, highly liquid 2026 with modest normalization in metrics. Overall, the company appears well-positioned with disciplined risk management and a clear plan to sustain growth, making the positives substantially outweigh manageable challenges.Positive Updates
Record Net Income and Strong Profitability
Net income reached a record $227 million in 2025, up ~10% year-over-year. Adjusted return on equity was 15.8% for the full year (14.2% in Q4). Q4 net income was $56 million, one of the strongest quarters in history.
Negative Updates
ROE Moderation Due to Rate Cuts and Capital Increase
Adjusted ROE declined to 15.8% in 2025 from 16.2% in 2024; Q4 adjusted ROE was 14.2% vs 15.1% in Q3. Management attributes moderation to ~175 basis points of Fed rate cuts since late 2024 and a higher capital base after the AT1 issuance.
Read all updates
Q4-2025 Updates
Positive
Negative
Record Net Income and Strong Profitability
Net income reached a record $227 million in 2025, up ~10% year-over-year. Adjusted return on equity was 15.8% for the full year (14.2% in Q4). Q4 net income was $56 million, one of the strongest quarters in history.
Read all positive updates
Company Guidance
Bladex framed 2026 as a transition year and gave numeric guidance: commercial portfolio growth of 13–15% (with average deposit growth at a similar 13–15% pace), net interest margin around 2.3%, an efficiency ratio near 28%, adjusted ROE of 14–15% (adjusted basis), and Basel III Tier‑1 capital of 15–16%; management also expects fee income to remain broadly in line with 2025 (roughly 18–20% of revenues) while navigating a highly liquid, competitive environment with two anticipated Fed rate cuts as it scales new IT and treasury platforms.Banco Latinoamericano De Comercio Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
55
Neutral
Cash Flow
58
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 339.60M | 810.60M | 683.41M | 330.75M | 155.74M |
| Gross Profit | 317.50M | 284.78M | 209.87M | 126.61M | 101.64M |
| EBITDA | 226.90M | 209.44M | 169.25M | 94.75M | 66.19M |
| Net Income | 226.90M | 205.87M | 166.16M | 92.04M | 62.70M |
Balance Sheet | |||||
| Total Assets | 12.79B | 11.86B | 10.74B | 9.28B | 8.04B |
| Cash, Cash Equivalents and Short-Term Investments | 1.93B | 2.06B | 2.06B | 1.24B | 1.25B |
| Total Debt | 4.18B | 4.58B | 4.68B | 4.73B | 3.75B |
| Total Liabilities | 11.11B | 10.52B | 9.54B | 8.21B | 7.05B |
| Stockholders Equity | 1.68B | 1.34B | 1.20B | 1.07B | 991.79M |
Cash Flow | |||||
| Free Cash Flow | 370.86M | -1.13B | 1.06B | -772.37M | -872.52M |
| Operating Cash Flow | 373.66M | -1.13B | 1.06B | -769.65M | -871.71M |
| Investing Cash Flow | -995.82M | -180.02M | -12.77M | -166.66M | -446.08M |
| Financing Cash Flow | 644.44M | 1.14B | -253.22M | 916.25M | 1.68B |
Banco Latinoamericano De Comercio Technical Analysis
Positive
45.13
Price Trends
49.03
Positive
46.40
Positive
44.53
Positive
Market Momentum
0.76
Negative
65.63
Neutral
88.15
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BLX, the sentiment is Positive. The current price of 45.13 is below the 20-day moving average (MA) of 49.48, below the 50-day MA of 49.03, and above the 200-day MA of 44.53, indicating a bullish trend. The MACD of 0.76 indicates Negative momentum. The RSI at 65.63 is Neutral, neither overbought nor oversold. The STOCH value of 88.15 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for BLX.
Banco Latinoamericano De Comercio Risk Analysis
Banco Latinoamericano De Comercio disclosed 33 risk factors in its most recent earnings report. Banco Latinoamericano De Comercio reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Banco Latinoamericano De Comercio Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | $2.21B | 15.68 | 5.33% | 4.11% | 41.45% | -41.16% | |
71 Outperform | $1.78B | 9.31 | 15.21% | 2.73% | 3.98% | 6.75% | |
70 Outperform | $1.83B | 7.30 | 14.85% | 5.67% | 1.35% | 9.65% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
65 Neutral | $5.32B | 24.80 | 4.69% | 2.37% | -55.81% | -78.94% | |
56 Neutral | $938.35M | 37.40 | 3.37% | 1.34% | 6.45% | 8.32% | |
55 Neutral | $3.56B | 18.39 | 7.42% | 0.80% | -39.57% | -49.55% |
* Financial Sector Average
BLX
Banco Latinoamericano De Comercio
52.28
21.18
68.10%
BMA
Banco Macro SA
77.46
15.63
25.27%
BBAR
Banco BBVA Argentina
16.01
1.35
9.23%
BUSE
First Busey
25.61
7.23
39.37%
OFG
OFG Bancorp
41.35
7.49
22.12%
EQBK
Equity Bancshares
44.70
9.69
27.68%
Banco Latinoamericano De Comercio Corporate Events
Banco Latinoamericano de Comercio Exterior Reports Higher Assets in 2025 Unaudited Results
Mar 27, 2026
On March 26, 2026, Banco Latinoamericano de Comercio Exterior, S.A. filed a Form 6-K with the U.S. Securities and Exchange Commission reporting its unaudited interim condensed consolidated financial statements as of December 31, 2025, and results ...
Bladex Unveils 2030 Vision After Beating 2026 Targets Ahead of Schedule
Mar 24, 2026
At its March 2026 Investor Day, Bladex reported that it reached or exceeded its ambitious 2026 financial and operational goals ahead of schedule, including expanding its commercial portfolio, improving lending spreads and cost-to-income, strengthe...
Bladex Calls Virtual 2026 Shareholders’ Meeting, Seeks Approval for Name Change to Bladex, Inc.
Mar 19, 2026
On March 19, 2026, Bladex announced that it will hold its 2026 Annual Meeting of Shareholders virtually on April 21, 2026, at 11:30 a.m. Panama time, accessible via an online platform. Shareholders of all classes will be asked to approve the audit...
Bladex Posts Record 2025 Profits, Expands Portfolio and Hikes Dividend
Feb 13, 2026
On February 12, 2026, Bladex reported that net profit rose 9% year-on-year to $56.0 million, or $1.50 per share, in the fourth quarter of 2025 and 10% to $226.9 million, or $6.11 per share, for full-year 2025. The bank delivered adjusted ROE of 14...
Bladex Hikes Quarterly Dividend After Record 2025 Results
Feb 12, 2026
On February 12, 2026, Bladex reported that its board approved an increase in the quarterly cash dividend to $0.6875 per share from $0.625, following record financial results in 2025 and strong fourth-quarter performance. The dividend, representing...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.