Bladex Q1 Profit Rises - Quick Facts

(RTTNews) - Banco Latinoamericano de Comercio Exterior, S.A. (BLX) reported first-quarter net income of $23.5 million, or $0.61 per share, compared to $16.3 million, or $0.43 per share, previous year. The company said the 44%, year-on-year increase was mainly driven by higher net interest income and fee income.

Net interest income was $32.1 million, up 23% year-on-year, mainly driven by higher average interest-earning asset balances. Fees and commissions totaled $4.3 million, up 78% year-on-year, mostly from higher fees from loan intermediation generated from mandated structured transactions, and greater activity in the letters of credit business.