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Panama-based multinational bank financing foreign trade and corporate lending across Latin America, backed by regional central banks.
Panama-based multinational bank financing foreign trade and corporate lending across Latin America, backed by regional central banks.
Earns mostly from the spread on short-term trade loans, funded by deposits from regional central banks and by borrowing from international banks and bond investors, plus fees on letters of credit. Latin American central banks own its Class A shares, while the Class E shares traded in the US are held by investors.
In one line: Latin America's trade-finance bank.
Moat: narrow (regulatory licence, scale, customer qualification). Central-bank shareholder base gives preferred-creditor-like standing and deep regional trade-finance reach.
Headquarters: Panama City, Panama · Founded: 1979 · Employees: 372
Size Bladex (BLX) is a United States Financials company (Major Banks) with a market value of $2.19B, the 1732nd largest of 3,117 United States companies the cockpit tracks. Shares closed at $49.88 on 6 Nov 2026.
Performance Over six months the shares fell 7.3%, against +3.7% for the median peer and -1.1% for the United States market (cap-weighted) — 5th lowest of 20 in its peer set.
Growth Revenue grew 3.5% over the last twelve months (peer median +7.4%); the operating margin is 65.2% (peer median 29.4%).
Valuation It trades at 1.05× book value against a peer median of 0.93× (8th most expensive of 21).
Price implies The share price implies a return on equity of about 9.3%; Bladex delivers 14.5%, so the price asks less than the business earns today.
Short interest Short interest is 2.2% of the free float (15 Oct 2026).
Next results Next results expected around 24 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $868M | $840M | $831M | $712M | $351M |
| Revenue growth | — | +1% | +17% | +103% | — |
| Net income | $234M | $227M | $206M | $166M | $92.0M |
| Free cash flow | n/a | $371M | $166M | $250M | $128M |
| Capital expenditure | n/a | $2.80M | $3.94M | $2.10M | $2.72M |
| Total debt | $6.24B | $4.34B | $4.59B | $4.68B | $4.73B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Bladex BLX | $2.19B | -7% | +4% | 14% | 1.05× | 9.3% |
| Banco Macro SA Sponsored ADR BMA | $4.53B | -21% | +4% | 7% | 0.87× | 11.3% |
| Grupo Financiero Galicia SA Sponsored ADR GGAL | $5.36B | -30% | +3% | 2% | 0.76× | 9.6% |
| Grupo Cibest S.A. Unsponsored ADR Pfd CIB | $24.7B | +42% | +7% | 19% | 1.97× | 14.4% |
| Banco Santander-Chile Sponsored ADR BSAC | $15.2B | +7% | +18% | 25% | 3.00× | 17.6% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | BLX | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -8.9% | -0.1% | 6th lowest of 21 |
| 6-month return | -7.3% | +3.7% | 5th lowest of 20 |
| Return on equity | 14.5% | 7.9% | 4th highest of 21 |
| Price / book | 1.05× | 0.93× | 8th most expensive of 21 |
| Trailing P/E | 8.0× | 12.0× | 3rd cheapest of 20 |
| ROE the price implies | 9.3% | 7.4% | 8th most demanding of 21 |
| ROE delivered | 14.5% | 8.0% | 4th highest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Bladex BLX | United States | $2.19B | -7% | +4% | 14% | 1.05× | 9.3% | 14.5% |
| WaFd WAFD | United States | $2.18B | -17% | 0% | 8% | 0.81× | 8.1% | 8.5% |
| Awa Bank 8388.T | Japan | $2.15B | +94% | +23% | 5% | 0.80× | 5.3% | 4.7% |
| OFG Bancorp OFG | United States | $2.15B | +10% | +2% | 17% | 1.60× | 12.0% | 16.6% |
| OSB OSB.L | United Kingdom | $2.27B | +4% | -6% | 12% | 0.78× | 12.1% | 12.4% |
| Seven Bank 8410.T | Japan | $2.09B | +28% | +3% | 6% | 1.41× | 5.7% | 6.3% |
| Tokyo Kiraboshi Financial 7173.T | Japan | $2.36B | -12% | +15% | 11% | 0.93× | 5.9% | 10.8% |
| Aichi Financial 7389.T | Japan | $2.40B | +3% | +31% | 8% | 0.81× | 6.5% | 7.8% |
| City CHCO | United States | $1.99B | +15% | +3% | 16% | 2.55× | 13.9% | 16.4% |
| Banco BBVA Argentina SA Sponsored ADR BBAR | United States | $2.45B | -29% | +6% | 8% | 0.77× | 8.1% | 8.0% |
| SpareBank 1 Nord-Norge NONG.OL | Norway | $1.96B | +26% | -4% | 8% | 0.93× | 6.6% | 7.7% |
| Bank of Xi'an 600928.SS | China | $2.51B | +2% | +1% | 8% | 0.45× | 2.6% | 7.8% |
| BSP Financial BFL.AX | Australia | $2.53B | -5% | +7% | 25% | 2.12× | 10.5% | 24.5% |
| Far Eastern International Bank 2845.TW | Taiwan | $1.88B | +4% | +5% | 7% | 0.87× | 3.2% | 7.4% |
| First Merchants FRME | United States | $2.56B | +1% | +8% | 8% | 0.97× | 9.2% | 7.8% |
| Happen HAPN | United States | $1.84B | n/a | +26% | 14% | 1.16× | 14.5% | 13.8% |
| FB Financial FBK | United States | $2.66B | 0% | +27% | 12% | 1.39× | 12.3% | 11.9% |
| Hyakujushi Bank 8386.T | Japan | $1.78B | +4% | +22% | 6% | 0.72× | 6.7% | 5.6% |
| FirstSun Capital Bancorp FSUN | United States | $1.77B | +5% | +45% | 4% | 0.98× | 6.3% | 4.2% |
| iM Financial 139130.KS | South Korea | $1.76B | -20% | +24% | 8% | 0.46× | 4.2% | n/a |
| NBT Bancorp NBTB | United States | $2.74B | +16% | +10% | 11% | 1.45× | 9.3% | 11.5% |