During 2007, Bladex achieved a net income of $72.2 million, or $1.99 per share, compared to a net income of $57.9 million, or $1.56 per share, in 2006.  The net income increase of $14.3 million, or 25%, was the result of an increase in operating income.     

Operating Income
The Bank’s operating income (net income before net reversals of credit provisions and recoveries on impairment losses) in 2007 amounted to $71.2 million, an increase of 81% compared to $39.3 million in 2006. This was mainly driven by the combination of a $11.7 million, or 20%, increase in net interest income (mostly from the Commercial Division), $23.0 million in higher gains at Bladex Asset Management (“BAM”), and $6.6 million on gains on sales in the available for sale investment portfolio.        

Commercial Division
The Commercial Division incorporates the Bank’s financial intermediation and fee generation activities.  Operating income from the Commercial Division includes net interest income from loans, fee income, net of allocated operating expenses.