Bladex (NYSE: BLX) reported Q3 EPS of $0.69, $0.03 better than the analyst estimate of $0.66.

Reported results:

• Bladex's third quarter 2014 Net Income reached $26.6 million (+29% QoQ; +17% YoY). The Bank's first 9M14 Net Income totaled $70.8 million (+16% YoY) mainly on higher net interest income, fees and commissions and improved efficiency.
• Net interest income totaled $36.8 million in 3Q14 (+9% QoQ; +1% YoY) and $102.8 million for 9M14 (+$10.8 million, or +12% YoY) on higher average portfolio growth, higher margins and spreads, and lower average funding costs.
• Fees and commissions amounted to $4.1 million in 3Q14 (+10% YoY; -2% QoQ), to reach $12.6 million for 9M14 (+$3.6 million, +40% YoY).

Key performance metrics:

• Net interest margin reached 1.93% in 3Q14 (+9 bps QoQ; -3 bps YoY), and 1.85% in the first 9M14 (+8 bps YoY), while net interest spread improved to 1.77% (+10 bps QoQ; -1 bps YoY) and 1.69% (+12 bps YoY), respectively.
• 3Q14 annualized return on average equity ("ROAE") reached 11.7% versus 9.3% in 2Q14 and 10.7% in the 3Q13, while 9M14 ROAE stood at 10.7% versus 9.7% in 9M13.
• The Business Efficiency Ratio improved to 30% in 3Q14 (-3 pts. QoQ; -4 pts. YoY), and to 33% for the first 9M14 (-5 pts. YoY).

For earnings history and earnings-related data on Bladex (BLX) click here.