14 slides from Banco Latinoamericano De Comercio Exterior's earnings presentation, Jul 24, 2024
Slide 1: 2Q24 Earnings Results
2Q24 Earnings Results July 2024
Slide 2: Key Results: Strong Performance in 2Q24
Key Results: Strong Performance in 2Q24 Continued Growth on Commercial Commercial Book Deposits Portfolio and Record Growth on Deposits $9.2 Bn $5.3 Bn ↑ 6% QoQ |↑ 13% YoY ↑ 11% QoQ |↑ 29% YoY NIM NPLs Steady Margins with Robust Asset 2.43% 0.14% Quality ↓ 4 bps QoQ | ↑ 1 bps YoY 0 bps QoQ | ↓ 1 bps
Slide 3: Strategy Execution Driving Profitability Improvement
Strategy Execution Driving Profitability Net Income & RoE 1H 2024 Improvement 101 2Q24 74 50 ROE 37 16.2% 34 51 2Q 23 37 1Q 11 6M 2022 6M 2023 6M 2024 (USD millions, except for %) 3
Slide 4: Continued Assets Expansion and Commercial Portfolio Growth
Continued Assets Expansion and Commercial Portfolio Growth (USD millions, except for %) Total Assets Commercial Portfolio1 YoY YoY +8% +13% QoQ QoQ +2% +6% 10,688 10,907 9,201 10,134 8,690 16% 17% 8,114 18% 1,726 1,904 1,782 1,340 1,820 10% 11% 1,309 10% 1,110 1,146 1,010 67% 69% 68% 7,420 7,350 6,8
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 86% 39% Investment Grade 61% Non-Investment Grade 27% Non Latam2 & Multilaterals 51% United States Othe
Slide 6: Strong Asset Quality, Low Credit Risk and Robust Reserve Coverage
Strong Asset Quality, Low Credit Exposure by Stages Risk and Robust Stage 2 Reserve Coverage 5.5% $563M Stage 3 0.1% $10M $10.3Bn Stage 1 94.5% $9,762M (USD millions, except for %) Total Allowance for Credit Losses to Impaired Credits (USD millions, except for %) 2Q23 3Q23 4Q23 1Q24 2Q24 752% Allowa
Slide 7: Record Deposits Continue to Improve their Share in the Funding Mix
Record Deposits Continue to Improve their Share in the Funding Mix Funding Sources YoY +7% Deposits Evolution Per Institution QoQ +1% YoY +29% 9,021 9,102 QoQ 8,530 +11% 2,703 5,259 2,786 2,251 4,724 4,074 837 2,062 1,147 1,749 1,797 303 364 1,776 408 5,259 4,724 2,975 3,197 4,074 2,298 2Q23 1Q24 2Q
Slide 8: Strong Capitalization Supports Business Expansion
Strong Capitalization Capital Supports Business & Balance Sheet Expansion 15.7% 16.3% 16.2% 15.4% 15.4% 13.7% 14.0% 13.6% 13.6% 13.6% 1,238 1,264 1,204 1,161 1,128 2Q23 3Q23 4Q23 1Q24 2Q24 Equity Capital Adequacy Index 1 Tier 1 Capital Ratio (Basel III) 2 (USD millions, except for %) (1) As defined
Slide 9: Net Interest Margin Continue to Drive Solid Top-line Performance
Net Interest Margin Continue to Drive Solid Top-line Performance Net Interest Spread Avg. Interest-Earning Assets, NIM & NII Rate of Interest-Earning Assets Rate of Interest-Bearing Liabilities 62.9 62.8 2.80% 54.5 2.60% 2.47% 2.42% 2.43% 7.47% 7.45% 6.99% 2.40% NIS NIS 10,249 10,376 2.20% NIS 1.80%
Slide 10: Growing Letter of Credit Business Drives Fee Income
Growing Letter of Credit Business Drives Fee Income Total Fees Quarterly 12.5 Credit Commitments 11.1 2.3 and Other 10.1 commissions, net1 2.0 0.7 9.5 2.1 3.7 Structured loans 2.7 3.5 6.5 1.3 0.5 0.8 Fee Growth YoY 2Q23 vs 2Q24 Letter of 6.5 +93% 6.3 5.9 6.0 Credit Fees 5.2 2Q23 3Q23 4Q23 1Q24 2Q24
Slide 11: Improved Operational Efficiency
Improved Operational Opex & Efficiency Ratio Efficiency 27.2% 27.6% 27.2% 25.2% 21.4 24.3% 19.5 18.3 18.2 15.6 Efficiency for 2Q24 24.3% 2Q23 3Q23 4Q23 1Q24 2Q24 Total Expenses Efficiency Ratio (USD millions, except for %) 11
Slide 12: Closing Remarks
Bladex Closing Remarks LISTED 12
Slide 13: Q&A
Q&A JULY 2024 13
Slide 14: 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