The ratings on Bladex reflect its adequate capitalization, solid market position, good management team, sustained good financial profile, and liquidity. Bladex also enjoys expertise in trade finance in Latin America. Its exposure to countries that suffer from cyclical financial distress, concentrated deposit base, and absence of a "lender of last resort" in Panama somewhat offset these strengths. Bladex's capital is adequate among private banks and its peers at the rating level. Adjusted tangible equity (ATE) to adjusted assets was 14.73% as of September 2010. The bank's capital contains no hybrids, and its quality is high. The shareholders have demonstrated support in response to crisis. The level of capital ratio enables the bank to keep on expanding. Bladex has maintained its...
Companies mentioned in this report are:
- Banco Latinoamericano de Comercio Exterior S.A.
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