Panama-based trade finance bank Banco Latinoamericano de Exportaciones (Bladex) (NYSE: BLX) will continue to reduce its credit exposure this year and in 2005, the bank's CEO Jaime Rivera told BNamericas.
The bank is especially interested in reducing risk factors in Argentina and non-trade business sectors in Latin America & the Caribbean.
Bladex has already cut its exposure to Argentina significantly during the last couple of years and at the end of June it stood at US$360m, down 38% on the same time last year.
The exposure to non-trade sectors has also been brought down, to US$511m at June 30 from US$857m at the same date 2003.
Rivera said that Bladex "is a business in transition" towards a stronger focus on its core business export financing and to change from being a mono-product provider to a bank that offers its clients - banks and companies - a wide range of products and services.
