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Key takeaways from the call include:
During the call, Salas also discussed the implications of the Israel-Hamas conflict on the Latin American region. He noted that the conflict has led to an increase in commodity prices, particularly oil, which benefits oil exporters in South America but negatively impacts Central American and Caribbean economies that are importers of refined products. As a trade bank, Bladex finances both imports and exports, so an increase in commodity prices has historically been beneficial for the company.
Regarding the company’s dividend policy, Salas stated that capital management, including dividends and potential buybacks, is an ongoing discussion at the board level. The board aims to maximize total shareholder return while also managing capital ratios and remaining strongly capitalized to maintain its investment grade.
Salas also mentioned that the company is currently working on its 2024 budget and will provide guidance on the results in the next call.
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