Bladex (BLX) Misses Q1 EPS by 8c

Bladex (NYSE: BLX) reported Q1 EPS of $0.60, $0.08 worse than the analyst estimate of $0.68.

• Bladex's 1Q17 Profit totaled $23.5 million, up 76% compared to the previous quarter, mostly on lower provisions for expected credit losses ("ECL"), and stable YoY as the effect of higher total income and improved efficiency was offset by provisions for ECL on certain exposures.
• Net Interest Income reached $34.4 million in 1Q17 (-9% QoQ, -13% YoY), on lower average loan portfolio balances from continued efforts to reduce country, industry and client concentrations, focus on short-term trade lending, and seasonally lower demand in most countries of the Region.
• Fees and Other Income totaled $3.7 million in 1Q17 (-22% QoQ, +31% YoY), on increased business activity in letters of credit, partially offset by lower commissions from the syndication business, while several transactions are currently in process.

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

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