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BUSINESS HIGHLIGHTS
Sequential quarterly Commercial Portfolio growth continues the trend that started last year, up 3% QoQ to reach $5.7 billion, driven by higher loan origination (+5% QoQ), with a continued focus on defensive sectors and stricter credit underwriting standards.
During 1Q21, Bladex continues to collect virtually all loan maturities (close to 100% since the onset of Covid-19), evidencing the high quality of the Bank s borrower base and short-term nature of its business.
As of March 31, 2021, Bladex s credit quality remains sound, with a well-diversified exposure across countries, having 57% of the Commercial Portfolio in investment grade countries, 53% with financial institutions and 18% with sovereign and state-owned corporations. As well, Bladex continues with the downsize of exposures to higher risk sectors since the onset of Covid-19, such as sugar (-46%) and airlines (-67%), now representing 1% and 0.8% of the total portfolio, respectively.
Bladex Announces The Issuance Of Its First Best Efforts ESG Bond
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PANAMA CITY, May 4, 2021 /PRNewswire/ Banco Latinoamericano de Comercio Exterior, S.A. ( Bladex or the Bank ), announced the issuance of its first Best Efforts ESG (environmental, social and governance) bond, the net proceeds of which will be deployed on a best effort basis to fund initiatives with positive environmental and social impacts. The bond was issued under the Bank s Euro Medium Term Note program, for a notional amount of US$50 million and matures in 2024. It pays a fixed rate coupon of 1.35%.