Bladex announces Net Profit of $66.5 Million for the Second Quarter 2026

PANAMA CITY, July 27, 2026 /PRNewswire/ — Bladex, Inc. (NYSE: BLX, 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, announced today its results for the second quarter (“2Q26”) and the six months (“6M26”) ended June 30, 2026.

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”).  

Financial & Business Highlights

All-time high profitability with Net Profits reaching $66.5 million or $1.77 per share in 2Q26 (+4% YoY) and $122.8 million or $3.08 per share in 6M26 (+6% YoY), supported by higher average commercial balances, record fee generation and continued funding optimization, notwithstanding continued margin pressure driven by abundant liquidity and intensified competition for high-quality assets across the Region.

Adjusted Annualized Return on Equity stood at 16.4% in 2Q26 and 15.3% in 6M26, reflecting disciplined commercial growth, enhanced revenue diversification and continued funding optimization. Including the effect of the AT1 issuance completed in late September 2025, the annualized Return on Equity (“ROE”) reached 15.4% in 2Q26 and 14.5% in 6M26.

Net Interest Income (“NII”) resulted in $73.3 million in 2Q26 (+8% YoY) and $143.5 million in 6M26 (+8% YoY) mostly driven by higher average business volumes. Net Interest Margin (“NIM”) stood at 2.24% in 2Q26 and 2.29% in 6M26, supported by lower funding costs driven by deposit growth and continued pricing discipline, which was offset by increased market liquidity and intensified competition for high-quality assets that continue to pressure asset pricing and short-term lending spreads.

Fees and non-interest income reached a record $25.6 million in 2Q26 (+15% YoY), primarily attributable to the growing contribution from fee-generating activities, supported by sustained client engagement and increased transactional activity. Revenues generated by the intermediation of financial instruments have become increasingly an important source of income, generating $1.3 million in 2Q26. Consequently, fees and non-interest income totaled $38.5 million in 6M26 (+10% YoY).

Well-managed Efficiency Ratio of 24.1% in 2Q26 and 25.2% in 6M26, as higher total revenues more than offset increased operating expenses associated with expanded execution capacity and personnel-related expenses, along with continuing investments in technology, modernization and other strategic initiatives.

Credit Portfolio reached a record level at $14,466 million as of June 30, 2026 (+19% YoY), resulting from:

• Commercial Portfolio EoP balances reaching a peak of $13,029 million at the end of 2Q26 (+20% YoY), reflecting growth across loans and contingencies, as the Bank continues to execute its commercial pipeline.
• Treasury Investment Portfolio of $1,437 million (+5% YoY), mostly consisting of investment-grade securities outside of Latin America held at amortized cost, further enhancing country and credit-risk diversification and providing contingent liquidity funding.

Sound asset quality, with most of the credit portfolio (98.4%) remaining low-risk or Stage 1 at the end of 2Q26. Stage 2 exposures decreased to 1.1% of the portfolio at the end of 2Q26, reflecting credit quality improvements, maturities, repayments and the migration of a specific exposure to Stage 3.  As a result, impaired credits or Stage 3 principal balance increased to $75.1 million or 0.5% of total Credit Portfolio, with a reserve coverage of 1.2x.

Heightened and diversified deposit base, reaching historically high levels of $7,890 million at the end of 2Q26 (+22% YoY), representing 64% of the Bank’s total funding sources. The Bank also maintained ample and constant access to interbank and debt capital markets.

Solid liquidity position at $1,922 million, or 13.3% of total assets as of June 30, 2026, mostly consisting of deposits placed with the Federal Reserve Bank of New York (67%) and highly rated banks in the U.S. and other OECD countries (27%).

The Bank’s Tier 1 Basel III Capital and Regulatory Capital Adequacy Ratios resulted in 16.6% and 14.3% at the end of 2Q26, respectively, both well above internal targets and regulatory minimum, reflecting the strategic deployment of capital to support profitable business growth.

Recent Events

Quarterly dividend payment: The Board of Directors approved a quarterly common dividend of $0.6875 per share corresponding to 2Q26. The cash dividend will be paid on August 25, 2026, to shareholders registered as of August 7, 2026.

Rating updates: On June 18, 2026, S&P Global Ratings upgraded the Bank’s global long-term issuer credit ratings to “BBB+” and affirmed the short-term issuer credit rating at “A-2” on robust credit risk management, superior asset quality indicators, a well-diversified portfolio across geographies, economic sectors, and client profiles; and resilient earnings and strong capital adequacy, which give it ample capacity to absorb unexpected credit losses. The outlook remains “Stable”.

On June 16, 2026, Moody’s Investors Service affirmed Bladex’s all ratings, including its long- and short-term foreign currency deposit ratings at “Baa2/Prime-2”, respectively. The outlook on Bladex’s long-term foreign currency ratings remains “Stable”.

On April 28, 2026, Fitch Ratings affirmed Bladex’s Long- and Short-Term Issuer Default Rating at ‘BBB/F2’, respectively.  The outlook remains “Stable”.  In addition, the Bank’s National Long- and Short-Term ratings were affirmed at ‘AAA(pan)’/Outlook Stable, and ‘F1+(pan)’, respectively.

Notes

• Numbers and percentages set forth in this earnings release have been rounded and accordingly may not total exactly.
• QoQ and YoY refer to quarter-on-quarter and year-on-year variations, respectively.

Footnotes

1.  Earnings per Share (“EPS”) calculation is based on profit attributable to common shareholders, after deducting distributions accrued on AT1 instruments, divided by the weighted-average number of common shares outstanding during the period.

2.  ROE refers to return on average stockholders’ equity which is calculated based on unaudited daily average balances.

3.  ROE excluding other equity instruments refers to the adjusted net profit after AT1 distributions over average stockholders’ equity excluding other equity instruments, which is calculated based on unaudited daily average balances.

4.  ROA refers to return on average assets which is calculated based on unaudited daily average balances.

5.  NIM refers to net interest margin which constitutes to Net Interest Income (“NII”) divided by the average balance of interest-earning assets.

6.  NIS refers to net interest spread which constitutes the average yield earned on interest-earning assets, minus the average yield paid on interest-bearing liabilities.

7.  Efficiency Ratio refers to consolidated operating expenses as a percentage of total revenues.

8.  The Bank’s “Credit Portfolio” includes (i) loans – principal balance, which excludes interest receivable, allowance for loan losses, and unearned interest and deferred fees (or the “Loan Portfolio”); (ii) principal balance of securities at FVOCI and at amortized cost, which excludes interest receivable and allowance for expected credit losses; and (iii) loan commitments and financial guarantee contracts, such as confirmed and stand-by letters of credit and guarantees covering commercial risk and other assets consisting of customers’ liabilities under acceptances.

9.  The Bank’s “Commercial Portfolio” includes loans – principal balance (or the “Loan Portfolio”), loan commitments and financial guarantee contracts, such as issued and confirmed letters of credit, stand-by letters of credit, guarantees covering commercial risk and other assets consisting of customers’ liabilities under acceptances; and the principal balance of investment securities managed by the Bank’s Commercial Unit (or the “Commercial Bond Portfolio”).

10.  Market capitalization corresponds to total outstanding common shares multiplied by market close price at the end of each corresponding period.

11.  Tier 1 Capital ratio is calculated according to Basel III capital adequacy guidelines, and as a percentage of risk-weighted assets. Risk-weighted assets are estimated based on Basel III capital adequacy guidelines, utilizing internal-ratings based approach or “IRB” for credit risk and standardized approach for operational risk.

12.  As defined by the Superintendency of Banks of Panama (“SBP”) through Rules No. 01-2015, 03-2016 and 05-2023, based on Basel III standardized approach. The capital adequacy ratio is defined as the ratio of capital funds to risk-weighted assets, rated according to the asset’s categories for credit risk. In addition, risk-weighted assets consider calculations for market risk and operating risk.

13.  Liquid assets consist of total cash and due from banks, excluding time deposits with original maturity over 90 days and other restricted deposits, as well as corporate debt securities rated A- or above. Liquidity ratio refers to liquid assets as a percentage of total assets.

14.  Loan Portfolio refers to loans – principal balance, which excludes interest receivable, allowance for loan losses, and unearned interest and deferred fees. Credit-impaired loans are also commonly referred to as Non-Performing Loans or NPLs.

15.  Impaired Credits refers to the principal balance of Non-Performing Loans or NPLs and non-performing securities at FVOCI and at amortized cost.

16.  Total allowance for losses refers to allowance for loan losses plus allowance for loan commitments and financial guarantee contract losses, allowance for investment securities losses and allowance for cash and due from banks losses.

Safe Harbor Statement

This press release 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: “anticipate”, “intend”, “plan”, “goal”, “seek”, “believe”, “project”, “estimate”, “expect”, “strategy”, “future”, “likely”, “may”, “should”, “will” and similar references to future periods. The forward-looking statements in this press release include the Bank’s financial position, asset quality and profitability, among others. These forward-looking statements reflect the expectations of the Bank’s management and are based on currently available data; however, actual performance and results are subject to future events and uncertainties, which could materially impact the Bank’s expectations. Among the factors that can cause actual performance and results to differ materially are as follows: the coronavirus (COVID-19) pandemic and geopolitical events; the anticipated changes in the Bank’s credit portfolio; the continuation of the Bank’s preferred creditor status; the impact of increasing/decreasing interest rates and of the macroeconomic environment in the Region on the Bank’s financial condition; the execution of the Bank’s strategies and initiatives, including its revenue diversification strategy; the adequacy of the Bank’s allowance for expected credit losses; the need for additional allowance for expected credit losses; the Bank’s ability to achieve future growth, to reduce its liquidity levels and increase its leverage; the Bank’s ability to maintain its investment-grade credit ratings; the availability and mix of future sources of funding for the Bank’s lending operations; potential trading losses; the possibility of fraud; and the adequacy of the Bank’s sources of liquidity to replace deposit withdrawals. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.

About Bladex

Bladex, a multinational bank originally established by the central banks of Lat-in-American and Caribbean countries, began operations in 1979 to promote foreign trade and economic integration in the Region. The Bank, headquartered in Panama, also has offices in Argentina, Brazil, Colombia, Mexico, and the Unit-ed States of America, and a Representative License in Peru, supporting the re-gional expansion and servicing its customer base, which includes financial in-stitutions and corporations.

Bladex is listed on the NYSE in the United States of America (NYSE: BLX), since 1992, and its shareholders include: central banks and state-owned banks and entities representing 23 Latin American countries; commercial banks and fi-nancial institutions; and institutional and retail investors through its public listing.

Conference Call Information

There will be a conference call to discuss the Bank’s quarterly results on Tuesday, July 28, 2026, at 11:00 a.m. New York City time (Eastern Time). For those interested in participating, please click here to pre-register to our conference call or visit our website at https://bladex.com/. Participants should register five minutes before the call is set to begin. The webcast presentation will be available for viewing and downloads on https://bladex.com/. The conference call will become available for review one hour after its conclusion.

For more information, please access http://www.bladex.com or contact:

Mr. Carlos Daniel Raad
Chief Investor Relations Officer
Tel: +507 366-4925 ext. 7925
E-mail: craad@bladex.com / ir@bladex.com

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