Panama's Bladex Q3 net profit rises on higher business volumes

Overview

• Panama multinational bank's Q3 net profit rose 15% yr/yr, driven by record net interest income

• Q3 revenue rose 20% yr/yr

• Q3 EPS was flat yr/yr at $1.48

Outlook

• Company did not provide specific financial guidance for upcoming quarters or full year in its press release

Result Drivers

• HIGHER BUSINESS VOLUMES - Co said record net interest income was mostly driven by higher average business volumes

• FEE GENERATION - Strong fee and non-interest income attributed to sustained client activity and broader product capabilities

• FUNDING OPTIMIZATION - Co said continued optimization of funding costs and liquidity levels partially offset pressure on lending spreads

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the corporate financial services peer group is "buy"

• Wall Street's median 12-month price target for Bladex Inc is $66.80, about 25.2% above its October 26 closing price of $53.37

• The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 9 three months ago

Reuters Recommended Reads

• Oct 26 - Commercial BancGroup Q3 net income rises on loan growth

• Oct 26 - Northeast Bank Q1 net income rises on loan growth; EPS increases

• Oct 26 - Lakeland Financial Q3 net income rises on commercial loan growth

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)