Ricardo Valerio's questions to Foreign Trade Bank of Latin America Inc (BLX) leadership • Q4 2024
Question
Ricardo Valerio asked about the potential impact of the Trump administration's tariffs on Bladex's outlook, specifically regarding its Mexico exposure, and requested details on the Net Interest Spread (NIS) assumption within the 2025 NIM guidance.
Answer
Executive Jorge Salas stated that Mexico is 12% of the portfolio, with 78% being short-term and only 10% of that exposed to U.S. exports, mitigating tariff risks. He noted the corporations are low-leverage and resilient. CFO Ana de Mendez added that the NIM guidance assumes continued pressure on lending spreads and two 25 bps Fed rate cuts, with the Net Interest Spread (NIS) expected to remain near Q4 levels of 169 bps.