Bladex, Inc. Class E (BLX) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, ladies and gentlemen, and welcome to Bladex's fourth quarter 2025 earnings conference call. A slide presentation is accompanying today's webcast and is also available on the web investor section of the company's website, www.bladex.com. There will be an opportunity for you to ask questions at the end of today's presentation. Please note today's conference call is being recorded. As a reminder, all participants will be in listen-only mode. I would now like to turn the call over to Mr. Jorge Salas, Chief Executive Officer. Please, sir, go ahead. Good morning, everyone, and thank you for joining me. Today, we will discuss VLATES' four-quarter and full-year 2025 results. I will begin with the key highlights, and then Annette, our CFO, will walk you through the financial results in more detail. After that, I will comment on the macro environment and its implications for Latin America and for Gladix. Finally, I will discuss our guidance for 2026. After that, we will open the call for questions. This same week, a year ago, we shared detailed guidance for 2025. As you can see from our 2025 guidance slide, we delivered in all key metrics we guided for in 2025. Achieving this in a year marked by high global liquidity, declining market rates, and elevated geopolitical volatility speaks to our execution capacity and focus on building an even more resilient earnings profile through different cycles. Moving on to the next slide, on the highlights of the year, 2025 was the fourth consecutive year of record results. And turning to the balance sheet, our commercial portfolio grew 11.5% year over year, driven by a solid expansion in our loan book, and an even stronger increase in our contingent portfolio of more than 20% year-on-year. Loan growth was led by Guatemala, Co...