PANAMA
CITY, Feb. 22, 2024 /PRNewswire/ -- Banco
Latinoamericano de Comercio Exterior, S.A. ("Bladex" or the
"Bank"), today announced that its Board of Directors (the "Board")
has authorized a repurchase program of up to $50 million of the Bank's common stock over time.
This reflects the Bank's commitment to returning excess capital to
shareholders that is not needed to sustain the Bank's strength and
stability, deliver value to customers, and support future
growth. Bladex remains committed to continuing to distribute
capital to shareholders.
Under the stock repurchase plan, the Bank may, from time to time
in the future, purchase shares of its common stock through open
market transactions, privately negotiated transactions, forward,
derivative, or accelerated repurchase transactions, tender offers
or through other legally permissible means, depending on the market
conditions and in accordance with all applicable securities laws
and regulations, including Rule 10b-18 of the Securities Exchange Act of 1934, as
amended. The Bank may commence such repurchases immediately,
subject to compliance with applicable securities laws. The Bank may
enter into a pre-arranged stock trading plan in accordance with the
guidelines specified under Rule 10b5-1 to effectuate the Bank's new
stock repurchase program. However, the Bank has no obligation to
repurchase shares and the timing, actual number, and value of
shares to be repurchased is subject to management's discretion and
will depend on the Bank's capital position, liquidity, financial
performance and alternative uses of capital, stock trading price,
regulatory requirements, and other market conditions. The
Board will review the stock repurchase plan periodically and may
authorize adjustment of its terms and size or suspend or
discontinue the program. The Bank may, in the sole discretion of
its Board, terminate the repurchase program at any time while it is
in effect.
Forward-Looking Statements
This document includes
certain "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. These statements
are based on management's current expectations and are subject to
uncertainty and changes in circumstances. Actual results may differ
materially from these expectations due to changes in global
political, economic, business, competitive, market and regulatory
factors. More detailed information about those factors is contained
in Bladex's most recent reports filed on Form 20-F with, and
furnished on Form 6-K to, the Securities and Exchange Commission,
each as it may be amended from time to time, which identify
important risk factors that could cause actual results to differ
from those contained in the forward-looking statements. Bladex
disclaims any intent or obligation to update these forward-looking
statements.
About Bladex
Bladex, a multinational bank originally
established by the central banks of Latin-American and Caribbean countries, began operations in 1979
to promote foreign trade and economic integration in the
Region. The Bank, headquartered in Panama, also has offices in Argentina, Brazil, Colombia, Mexico, the United
States of America, and a Representative License in
Peru, supporting the regional
expansion and servicing of its customer base, which includes
financial institutions and corporations.
Bladex is listed on the NYSE in the
United States of America (NYSE: BLX), since 1992, and its
shareholders include: central banks and state-owned banks and
entities representing 23 Latin American countries, commercial banks
and financial institutions, and institutional and retail investors
through its public listing.
For further information on Bladex, please access its website at
www.bladex.com or contact:
Carlos Daniel Raad – Chief
Investor Relations Officer
E-mail address: craad@bladex.com / ir@bladex.com. Tel.:
(+507) 366-4925 ext. 7925
Head Office Address: Torre V, Business Park, Ave. La Rotonda, Urb.
Costa del Este,
Panama, Republic of Panama
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SOURCE Banco Latinoamericano de Comercio Exterior, S.A.
(Bladex)
