Focus Being Sharpened On Bladex

JP Morgan has published a research report on Bladex BLX as business momentum continues to improve in the company's third quarter. In the report, JP Morgan writes "Bladex reported 3Q10 net income of US$15.0 mn, or US$0.41/ share, broadly in line with our earnings forecast of US$15.5 mn, or US$0.42/ share. Bladex posted an ROE of 8.8% in 3Q10, versus 1.0% in 2Q10 and 9.6% in 3Q09. Net interest income was higher than forecast. This was offset by lower than forecast trading income and slightly higher than forecast expenses." JP Morgan maintains its Overweight rating for Bladex, which closed yesterday at $14.68.