Bladex (BLX) investor relations material

Executive summary

• Achieved record net income of $66.5M in Q2 2026, up 18% from Q1 and 4% YoY, driven by strong commercial execution, revenue diversification, and funding optimization despite margin pressure.

• Commercial portfolio reached $13.0B, up 8% sequentially and 20% YoY, with record deposits of $7.9B, up 8% sequentially and 22% YoY.

• Non-interest income surged to $25.6M, up 99% QoQ and 15% YoY, now 26% of total revenues, reflecting successful diversification.

• Efficiency ratio improved to 24.1% as revenue growth outpaced expenses.

• Adjusted annualized ROE was 16.4% in Q2 2026 and 15.3% for H1 2026, reflecting disciplined growth.

Financial highlights

• Net interest income rose to $73.3M in Q2 2026, up 4% from Q1 and 8% YoY, driven by higher average loan balances despite margin pressure.

• Net interest margin declined 10bps QoQ and 12bps YoY to 2.24% due to higher liquidity and competition.

• Non-interest income, excluding hedging, reached $25.1M, with fees and commissions at $23.3M.

• Operating expenses increased 8% from Q1 to $23.8M, but efficiency ratio improved to 24.1%.

• Provisioning expense rose to $8.6M, mainly from portfolio growth and a single exposure migration to stage 3.

Outlook and guidance

• Full-year 2026 guidance ratified: commercial portfolio and average deposit growth of 13–15%, NIM around 2.30%, efficiency ratio near 28%, adjusted ROE of 14–15%, and Tier 1 capital ratio of 15–16%.

• Transactional services and online banking platform buildout progressing on track, with meaningful funding cost benefits expected in years 4-5 of the plan.