Bladex Q3 profits up 9% on continued strong lending

- Thursday, October 20, 2011

Bladex Q3 profits up 9% on continued strong lending

Regional trade finance bank Bladex (NYSE: BLX) posted 3Q11 net income of US$16.3mn, a 9% increase from the year-ago period, the bank said in an earnings release.

As in Q2, strong loan growth marked this quarter's positive earnings.

The commercial loan portfolio reached US$5.6bn at end-3Q11, up 34% year-on-year and 7% on the previous quarter, while average portfolio balances grew 11%.

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To read Panama-based Bladex's full earnings release, go to this link