16 slides from Banco Latinoamericano De Comercio Exterior's earnings presentation, Oct 30, 2024
Slide 1: 3Q24 Earnings Results
Bladex) 3Q24 Earnings Results October 2024
Slide 2: Key Results: Record Performance in 3Q24
Key Results: Record Performance in 3Q24 Record Commercial Portfolio and Record Commercial Book Deposits Total Deposits $9.7 Bn $5.6 Bn ↑ 5% QoQ |↑ 17% YoY ↑ 7% QoQ |↑ 34% YoY NIM NPLs Margins Increasing, Consistent with 2.55% 0.21% Guidance and Robust Asset Quality ↑ 12 bps QoQ | ↑ 8 bps YoY ↑ 7 bps
Slide 3: Strategy Execution Driving Profitability Improvement
Strategy 9M Net Income, ROA & RoE Execution Driving Profitability Improvement Pre Strategic Plan On going Strategic Plan 154 Execution Execution 3Q24 120 53 ROE 16.4% 46 50 61 37 43 27 3Q 16 23 51 2Q 14 37 1Q 13 11 9M 2021 9M 2022 9M 2023 9M 2024 9M ROA 0.9% 0.9% 1.7% 1.9% 9M ROE 5.5% 8.0% 14.4% 16.
Slide 4: Continued Assets Expansion and Record Commercial Portfolio
Continued Assets Expansion and Record Commercial Portfolio USD millions, except for % Total Assets Commercial Portfolio1 YoY YoY 13% 17% QoQ QoQ 5% 5% 11,412 10,907 3% 399 9,673 10,095 4% 413 11% 9,201 11% 1,213 5% 511 1,146 8,244 1,603 10% 15% 1,782 1,010 17% 1,710 1,345 16% 1,904 1,645 71% 8,070 6
Slide 5: Well-Diversified Credit Portfolio
Well-Diversified Credit Portfolio USD millions, except for % Investment Portfolio Commercial Portfolio by Country Avg. Term to Maturity 2.2 years Avg. Term to Maturity 12 months Investment Grade 87% 37% Investment Grade 63% Non-Investment Grade 29% Non Latam2 & Multilaterals 52% United States Vs Q2
Slide 6: Strong Asset Quality, Low Credit Risk and Solid Reserve Coverage
Strong Asset Quality, Low Credit Exposure by Stages Risk and Solid Stage 2 Reserve Coverage 4.1% $446M Stage 3 0.2% $17M $10.9Bn Stage 1 95.7% $10,412M USD millions, except for % Total Allowance for Credit Losses to Impaired Credits USD millions, except for % 3Q23 4Q23 1Q24 2Q24 3Q24 Allowance for l
Slide 7: Deposits Keep Increasing Their Share in the Funding Mix
Deposits Keep Increasing Their Share in the Funding Mix Funding Sources Deposits Evolution Per Institution YoY 13% QoQ 5% YoY 34% 9,556 9,102 QoQ 8,454 7% 2,795 2,703 2,454 5,639 5,259 776 837 346 303 4,207 39% 43% 1,597 2,453 2,062 196 40% 1,677 58% 59% 50% 5,259 5,639 4,207 61% 57% 60% 3,197 3,186
Slide 8: Strong Capitalization Supports Business Expansion
Strong Capitalization Capital Supports Business & Balance Sheet 16.3% 16.2% 16.0% Expansion 15.4% 15.4% 13.7% 14.0% 13.7% 13.6% 13.6% 1,310 1,238 1,264 1,204 1,161 3Q23 4Q23 1Q24 2Q24 3Q24 Equity Capital Adequacy Index Common Equity Tier 1 Capital Ratio (Basel III) 2 1 USD millions, except for % 1 A
Slide 9: Net Interest Margin Continues to Drive Solid Top-line Performance
Net Interest Margin Continues to Drive Solid Top-line Performance Avg. Interest-Earning Net Interest Spread Assets, NIM & NII Rate of Interest-Earning Assets 66.6 Rate of Interest-Bearing Liabilities 62.8 60.5 2.55% 2.48% 2.43% 7.37% 7.45% 7.49% 10,376 10,379 NIS NIS 9,689 NIS 1,646 1.74% 1.78% 1,89
Slide 10: Strong Growth on Letter of Credit Business Drives Fee Income
Strong Growth on Letter of Credit Business Drives Fee Income Quarterly Evolution & 9M 2024 vs 9M 2023 Composition 45% 12.5 11.1 2.3 32.5 10.5 2.0 Credit Commitments and 1.9 Other commissions, net1 10.5 3.7 1.5 22.4 2.7 Structured loans 3Q 11.1 12.5 Letter of Credit 7.1 6.3 6.5 & Guarantees 2Q 6.5 9.
Slide 11: Operational Efficiency Aligned with Annual Guidance
Operational Efficiency Aligned Opex & Efficiency Ratio with Annual Guidance 27.2% 27.6% 27.1% 25.2% 24.3% 21.4 21.0 19.5 18.3 18.2 Efficiency for 9M 24 3Q23 4Q23 1Q24 2Q24 3Q24 Total Expenses Efficiency Ratio USD millions, except for % 11
Slide 12: Closing Remarks
BladexY Closing Remarks LISTED
Slide 13: Executing our 5-year Strategic Plan to Capture Our Full Potential
Executing our 5-year Executed Today Strategic Plan to Capture Our Full Optimed Balance Sheet leverage Trade Finance Platform In progress Potential Expanded base our customer Treasury Platform In progress Increased deposits Strengthened our teams Improved operational efficiencies 1 Guidance
Slide 14: Updated 2024 Guidance
Updated 2024 Guidance Original Guidance Updated Guidance Portfolio Growth ↓ 5% 7% 14% 16% Average Deposit Growth ↓ 12% 14% 30% NIM 2.5% Unchanged Efficiency Ratio 30% 26% ↓ ROE ↓ 14% 15% 15% 16% CET1 15% 16% Unchanged 14
Slide 15: OCTOBER 2024
OCTOBER 2024 15
Slide 16: Disclaimer
Disclaimer This presentation contains forward-looking statements of expected future developments within the meaning of the Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements can be identified by words such as: “anticipa