Top-News

GOLDPREIS kennt nur eine Richtung, nach oben! Jetzt richtig POSITIONIEREN und ABKASSIEREN!(Anzeige)

Freitag, 20.04.2018 13:05 von PR Newswire | Aufrufe: 66

Bladex Announces $14.5 Million Profit For The First Quarter 2018, Or $0.37 Per Share

Tageszeitungen (Symbolbild). pixabay.com

PR Newswire

PANAMA CITY, April 20, 2018

PANAMA CITY, April 20, 2018 /PRNewswire/ -- Banco Latinoamericano de Comercio Exterior, S.A. (NYSE: BLX, "Bladex", or "the Bank"), a Panama-based multinational bank originally established by the central banks of 23 Latin-American and Caribbean countries to promote foreign trade and economic integration in the Region, today announced its results for the first quarter ("1Q18") ended March 31, 2018.

Bladex

The consolidated financial information in this document has been prepared in accordance with International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board ("IASB").

(US$ million, except percentages and per share amounts)

1Q18

4Q17

1Q17

ARIVA.DE Börsen-Geflüster

Kurse

Banco Latinoamericano de Comercio Exterior SA

26,80 €

0,00%

Banco Latinoamericano de Comercio Exterior SA Chart

Key Income Statement Highlights

Total income

$30.7

$34.5

$38.3

Impairment loss from ECL on loans, loan commitments and financial guarantees contracts

$2.0

$0.9

$4.1

Operating expenses⁽¹⁾

$14.3

$13.1

$11.2

Profit for the period

$14.5

$20.6

$23.5

Profitability Ratios

Earnings per Share ("EPS") ⁽²⁾

$0.37

$0.52

$0.60

Return on Average Equity ("ROAE")⁽³⁾

5.6%

7.9%

9.4%

Return on Average Assets ("ROAA")

0.91%

1.31%

1.39%

Net Interest Margin ("NIM")⁽⁴⁾

1.68%

1.78%

2.02%

Net Interest Spread ("NIS")⁽⁵⁾

1.26%

1.38%

1.71%

Efficiency Ratio⁽⁶⁾

47%

38%

29%

Assets, Capital, Liquidity & Credit Quality

Commercial Portfolio⁽⁷⁾

$5,731

$5,999

$6,141

Treasury Portfolio

$85

$91

Total assets

$5,875

$6,268

$7,067

Total stockholders' equity

$1,047

$1,043

$1,019

Market capitalization⁽⁸⁾

$1,127

$1,061

$1,088

Tier 1 Basel III Capital Ratio ⁽⁹⁾

22.6%

21.1%

19.0%

Total assets / Total stockholders' equity (times)

5.6

6.0

6.9

Liquid Assets / Total Assets ⁽¹⁰⁾

9.3%

9.9%

17.3%

NPL to Loan Portfolio⁽¹¹⁾

1.12%

1.07%

1.14%

Total allowance for ECL to Commercial Portfolio⁽¹²⁾

1.57%

1.47%

1.89%

Total allowance for ECL to NPL (times)⁽¹²⁾

1.5

1.8

1Q18 Highlights

Profit for the 1Q18 totaled $14.5 million (-30% QoQ, -38% YoY). This decline was mainly attributable to a $4.8 million annual variable compensation expense incurred in 1Q18. Excluding this variable compensation payment, profit for the 1Q18 would have reached $19.3 million (-8% QoQ, -22% YoY).
Profits were impacted by lower lending spreads on short-tenor loan originations, together with the usual seasonal slow first quarter effect. The YoY negative comparisons were partially offset by lower impairment losses for ECL.
NII decreased 6% QoQ and 23% YoY on lower NIM (-10 bps QoQ, -34 bps YoY), reflecting mostly lower lending spreads on short-tenor loan originations.
Letters of credit and contingencies continued to perform well. Total fee generation was $3.0 million for the 1Q18, +3% QoQ and -1% YoY.
Syndications and structuring did not close any new transactions during the 1Q18, reflecting its lumpy nature of fee generation. This compares to a fee generation of $2.7 million in 4Q17.
Total operating expenses were up 9% QoQ and 28% YoY, impacted by the $4.8 million annual variable compensation expense incurred in 1Q18. Excluding this variable compensation payment, quarterly base operating expenses were lower, reflecting the Bank's ongoing focus on cost reduction and improving productivity.
1Q18 annualized Return on Average Equity ("ROAE") stood at 5.6%, compared to 7.9% in 4Q17 and 9.4% in 1Q17, as a result of lower profits while capitalization remained strong.
Tier 1 Basel III Capital Ratio reached 22.6% at the end of 1Q18 (+150 bps QoQ, +360 bps YoY), with risk-weighted assets down 6% QoQ and 14% YoY.
Average Commercial Portfolio balances in 1Q18 were higher by 3% QoQ and lower by 2% YoY, while EoP balances decreased 4% QoQ and 7% YoY, as strong loan origination was offset by short average tenor.
Credit quality remained sound with $58.8 million of non-performing loans ("NPL") at the end of the 1Q18, the same level from the previous quarter and down from $65.4 million a year ago, resulting in similar levels of NPL to Loan Portfolio balances of 1.1%.

CEO's Comments

Mr. N. Gabriel Tolchinsky, Bladex's Chief Executive Officer, said, "While our first quarter results were below our expectations, we were encouraged by several positive performance trends during the quarter: average loan balances were higher, contingencies/letters of credit performed well, credit quality remained strong, and we have a robust syndications pipeline. Operating expenses, excluding annual variable compensation expenses, declined from the fourth quarter as a result of our new streamlined operating model which is yielding results and will contribute to higher productivity levels.

"On the other hand, our performance this quarter was also affected by tightened net lending spreads pressured by high US dollar liquidity in the Region, the short duration of our trade finance portfolio, and higher exposures to financial institutions.

Mehr Nachrichten zur Banco Latinoamericano de Comercio Exterior SA Aktie kostenlos abonnieren

E-Mail-Adresse

Benachrichtigungen von ARIVA.DE
(Mit der Bestellung akzeptierst du die Datenschutzhinweise)

Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte.