Banco Latinoamericano de Comercio Exterior SA Bladex (NYSE:BLX) Q1 2020 Earnings Conference Call - Final Transcript

Apr 15, 2020 • 11:00 am ET


Banco Latinoamericano de Comercio Exterior SA Bladex (NYSE:BLX) Q1 2020 Earnings Conference Call - Final Transcript


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Hello, everyone, and welcome to Bladex's First Quarter 2020 Conference Call on this 15th day of April 2020. This call is being recorded and is for investors and analysts only. If you are a member of the media, you are invited to listen-only. Bladex has prepared a PowerPoint presentation to accompany their discussion. It is available through the webcast and on the Bank's corporate website at

Joining us today are Mr. Jorge Salas, Chief Executive Officer; and Ms. Ana Graciela de Mendez, Chief Financial Officer. Their comments will be based on the earnings release, which was issued earlier today and is available on the corporate website. The following statement is made pursuant to the Safe Harbor for forward-looking statements described in the Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934.

In these communications, we may make certain statements that are forward-looking, such as statements regarding Bladex's future results, plans and anticipated trends in the markets affecting these results and financial conditions. These forward-looking statements are Bladex's expectations on the day of the initial broadcast of this conference call, and Bladex does not undertake to update these expectations based on subsequent events of knowledge.

Various risks, uncertainties and assumptions are detailed in the Bank's press release and the filings with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize or should any of our underlying assumptions prove incorrect, actual results may vary -- may differ significantly from results expressed or implied in these communications.

And with that, I am pleased to turn the conference over to Mr. Salas for his presentation. Please go ahead.

Jorge L. Salas Taurel

Thank you, Stephanie. Good morning, everyone. Thank you for joining us today to discuss our first quarter 2020 results and how we are navigating the current and clearly extraordinary economic environment. On the call with me today are our Chief Financial Officer, Ana Mendez, as well as our Chief Risk Officer, Alex Tizzoni.

As many of you know, I started working in Bladex this year on Monday, March 9 as CEO. Two days later, Wednesday the 11th, the World Health Organization declared the rapidly expanding coronavirus as a global pandemic. The next day, Thursday, the 12th, the Bank successfully activated its business continuity plan. Since then, all of our staff, a total of 177 employees, have been operating remotely from their homes in six different countries, and the Bank's day-to-day operations have been running smoothly without interruption.

As of today, I'm very happy to report we have no cases of COVID-19 in our workforce. Furthermore, the team is working with enduring commitment, sharp focus and an amazing collaborate spirit across the whole organization. I have to say, I'm honored and also grateful to lead an organization that can adapt so fast to such extreme circumstances. I want to thank our employees and our Board of Directors who have made this possible.

Those of you who know Bladex know that our strength and