Banco Latinoamericano de Comercio Exterior, S.A. (BLX) reported first-quarter net income to shareholders of $16.3 million, or $0.43 per share, compared to $32.2 million, or $0.86 per share last year. The decrease in net income was largely driven by lower gains from Treasury activities, including the investment in the Investment Funds, along with $4.4 million in reversals of provisions for credit losses recorded in the first quarter 2012, the company said. Net interest income decreased to $26.0 million from $29.6 million last year.
Analysts polled by Thomson Reuters expected the company to report profit of $0.58 per share for the quarter. Analysts' estimates typically exclude special items.
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