Bladex Approves Cash Dividend of $0.6875 per Share for Third Quarter
Key Facts
Bladex’s board approved a quarterly cash dividend of $0.6875 per share for the third quarter of 2026, according to the bank’s disclosure published via PR Newswire. The dividend will be paid on November 24 to shareholders of record on November 6. The decision was part of the bank’s results announcement for the period, in which net income came to $63.2 million, up 15% year over year. Net income for the first nine months of the year was $186.0 million, up 9% from the same period a year earlier. The bank said the board approved the dividend, without linking the decision in its disclosure to stable cash flows or a stated shareholder-distribution strategy.
On a quarterly basis, income for the period fell to $63.2 million from $66.5 million in the second quarter, a decline of 5%. Earnings per share were $1.48, unchanged from the third quarter of 2025, but down 16% from $1.77 in the previous quarter. By contrast, total revenue was $99.1 million, up 20% year over year and close to $98.9 million in the second quarter. The comparison shows profit and revenue moving along different paths during the quarter, with profit declining sequentially despite annual revenue growth. The disclosure did not include forecasts among these figures.
Net interest income rose to $79.8 million in the third quarter, from $73.3 million in the previous quarter and $67.4 million a year earlier, marking annual growth of 18%. The bank attributed the increase mainly to higher average business volumes. Net interest margin was 2.30%, up 6 basis points from the second quarter. The bank said the sequential improvement benefited from the accelerated recognition of deferred fees after the repayment of some medium-term loans, along with improved funding cost spreads and efficient liquidity management. At the same time, it cited continued competitive pressure on lending spreads, a factor that limits interpreting the margin improvement in isolation from competition.
The loan portfolio expanded to $12,321 million at the end of the third quarter, up 18% from the previous quarter and 41% year over year. The bank attributed the expansion mainly to growth in short-term lending, including sovereign exposures and financing opportunities for its traditional clients. The commercial business portfolio also reached $14,976 million, a record level, according to the bank, up 15% sequentially and 38% annually. The bank cited a short-term transaction with the Government of Panama as contributing to growth in the commercial portfolio. On the funding side, deposits reached $7,912 million, up 16% year over year, and accounted for 56% of total funding sources.
On asset quality, the bank said 99.1% of its credit portfolio remained low-risk or in Stage 1 at the end of the quarter. Nonperforming or Stage 3 credit assets totaled $75.1 million, equivalent to 0.4% of the total credit portfolio. Impairment losses on financial instruments were $10.4 million in the third quarter, compared with $6.5 million a year earlier. Operating expenses also rose to $25.6 million, from $23.8 million in the second quarter and $21.3 million in the third quarter of the previous year. Business growth was accompanied by increases in these cost items, while the bank maintained its assessment that most of the credit portfolio was low-risk or in Stage 1.
The liquidity position was $1,960 million on September 30, equivalent to 12% of total assets, and the liquidity coverage ratio was 148% at quarter-end. The bank said 90% of its liquidity position was held as deposits at the Federal Reserve Bank of New York. Shares outstanding across all classes totaled 37,593,093.88 on the same date. The bank is scheduled to hold a conference to discuss its third-quarter results on October 27, 2026, at 11:00 a.m. New York time. The conference follows the announcement of the results, dividend, and its record and payment dates.