Banco Latinoamericano reports Q4 EPS $1.27 vs. 85c last year

Reports Q4 revenue $77.8M vs. $53.0M last year. Reports Q4 net interest margin 2.62 % vs. 2.11% last year. CEO Jorge Salas stated, “2023 was an extraordinary year for Bladex. Simply put, no matter which KPI you look at, last year was, without any doubt, the best in our Bank’s history. Our credit book grew 9% year-on-year. Today, our $9.5B Credit Portfolio is not only a record high but, more importantly, it is as diversified and healthy and well provisioned as it has ever been, with NPLs close to zero. Deposits rose 38% year-on-year to over $4B for the first time ever. On the profitability front, I am pleased to report that Net Interest Income amounted to $233M, which represents a 58% increase year-on- year. Also, our focus on fee income yielded remarkable results, with an increase of 64% from 2022, reaching the record level of $32.5M. Net income for the year soared 81% to a historic record high of $166M for the year. All this is the result of the implementation and well-crafted strategy designed to capture the full potential of the Bank. We are definitely poised for continued success in 2024.”