Bladex: Financial Results | 4Q25
Bladex (NYSE: BLX) today announced its financial results for the fourth quarter (4Q25) and full year (FY25) ended December 31, 2025, a period marked by solid and consistent performance that reaffirms the Bank’s role as a strategic partner for foreign trade and economic development in Latin America and the Caribbean.
During 2025, Bladex achieved net income of US$227 million, representing 10% year-over-year growth. Net income for the fourth quarter (4Q25) totaled US$56.0 million (+9% year-over-year), driven by continued business growth, stronger revenue generation, and disciplined management of credit risk and costs. These results highlight the strength of the Bank’s business model, its origination capabilities, and the quality of its credit portfolio.
The Bank increased its common dividend to US$0.6875 per share for 4Q25, up from US$0.625 per share. The 10% dividend increase reflects Bladex’s record financial performance in 2025 and reaffirms its ongoing commitment to delivering attractive returns to shareholders while maintaining financial strength and flexibility.
Jorge Salas, CEO of Bladex, stated: “The 2025 results confirm Bladex’s ability to generate profitable and sustainable growth, supporting our clients across the region with specialized financial solutions. The strengthening of our portfolio, asset quality, and robust capital levels allow us to continue expanding our value proposition, connecting Latin America with international financial markets.”
Annualized Adjusted Return on Equity (ROE) stood at 14.2% in 4Q25 and 15.8% for FY25, reflecting the impact of interest rate cuts implemented by the Federal Reserve since 2024. Including the effect of the AT1 issuance completed in late September 2025, ROE reached 13.4% in 4Q25 and 15.4% for FY25.
As of year-end 2025, the commercial loan portfolio reached a record US$11.184 billion, representing 11% growth compared to 2024, driven by strong performance across all product lines.
The investment portfolio reached US$1.415 billion in 2025 (+19% year-over-year), composed primarily of investment-grade securities outside Latin America and held at amortized cost. This strategy strengthens the Bank’s geographic and credit risk diversification while providing an additional source of contingent liquidity.
Bladex also maintained a healthy asset quality profile, with 98.2% of the credit portfolio classified as low risk or Stage 1 as of year-end 2025, reflecting disciplined origination and prudent risk monitoring.
The Bank closed 4Q25 with a solid and diversified deposit base totaling US$6.604 billion, reflecting 22% year-over-year growth and representing 62% of total funding sources, an increase of 8 percentage points compared to the prior year. Additionally, Bladex maintained broad and consistent access to interbank and debt capital markets, as evidenced by the reopening of a MXN 2.0 billion bond in December 2025 in the Mexican capital markets, further strengthening its liquidity profile and funding diversification.
The Bank maintained robust margins, with a Net Interest Margin (NIM) of 2.36%, and healthy asset quality, reflected in a Non-Performing Loan (NPL) ratio of 0.31%. These indicators confirm disciplined risk management and the strength of Bladex’s credit origination and monitoring processes.
One of the year’s key highlights was the performance of Net Interest Income (NII), which increased to US$70.8 million (+5% quarter-over-quarter) and US$271 million in 2025 (+5% year-over-year), driven primarily by higher average business volumes. NIM stood at 2.39% in 4Q25 and 2.36% for FY25 (-11 basis points year-over-year), reflecting lower base rates and increased market liquidity.
Through these results, Bladex reaffirms its commitment to advancing its strategic plan to continue supporting the region’s development, with a prudent, innovative, and long-term-oriented approach.
