preceding $XX.X given Jorge, you, improvement morning where see resulting to Slide sustained like everyone. quarter last be a and to I positive the the level driven of annual in with a continuing Thank would client a million good and diversification top-line increase continue quarterly XX% onboarding result the year with net strong income second on in lending similar commercial profit, cross to business to sell, by quarters new trend to trend and evolution to driving of quarterly solid year, and this X, the start evolution. for reaching for evolution, revenue, spread a in This the focus continued higher in positive XX.X% the ROE. in we
In interest higher continued addition, positively impact to market NII. rates
through balance better profit and to and you loss these line items our results. explain Let me sheet walk now
quarter. increase portfolio turning total So assets sound billion commercial position. the The and the second liquidity preceding a $XX back X% and all-time a end, balances, X% portfolio, up sheet from which of includes credits billion letters totaling an year loans off-balance and guarantees, XX% Slide end also high the representing of over record on annual and $X.X quarter loan quarter, increased reached reached at at the X, levels, to and from of last investment of
sector opportunities new driven mainly part sell such countries, Brazil, several Central exposures cross the The initial Peru, clients, Colombia, countries. part and well incorporation having country Mexico, remains the as Caribbean the American portfolio and the was of both in in across portfolio efforts, phase growth the by The plan. commercial sized corporate in business strategic of our and by top of our of optimization diversified
of of risk financing, the to is XX% receipts the to year. issuers, high with almost portfolio of duration for finance, diversification vendor the securities as resilient bank's trade with traction. products, In complemented commodity average turnover, good is The mostly closely with next non-LATAM nature within maturing of placed by US. short-term which maturing mainly months over is business with portfolio rating XX% investment held grade years. less $X terms this portfolio, billion X.X at an The as This related at business a generates the quarter reached XX% cash further XX% tenure commodity an and quarterly and letter lending follows Federal strong and methodology's from short-term Basel XX prudent remains proved is credit at of cycle proactive issuers maintaining allowing and assets close liquidity over quarter deposits end, of cost York is average the minus in end and management position with liquidity with maturity placed comprised for accounted Reserve of and amortized The total an remaining denoting of than of the New mostly investment to XX% portfolio invested of BBB fully bank's at portfolio. ratio. average XX% stood securities which coverage for total an
move tenures. where well Now to remain geographies we diversified sources products, X let's on funding and Slide across see our that
we Jorge reaching record deposits, over mentioned, continue $X billion. in an to increase see As a of level
and our A which Yankee our together cost-effective their a cross enhances strong banks and and continues our mix. deposit a As and share reserves part corporations, with our Overall, who sell to total from atomization from granularity represent continue our Class to performance of funding Bladex continues shareholders the a funding. show to program, provides strategy CD have client deposit Deposits base. to a source with relevant growth in stable international place of participation of
access as corresponding continue constant worldwide, from lines ample to debt global availability the market. and many of to as banks syndicated We have well bilateral capital markets credit loan
an local other pointed long also Panamanian short we million, corporate quarter, Euro a up Note second placements tapped debt million, at currently outstanding our market ever, the and Jorge totaling balance over first the to in $XX as along bond for Medium-Term time having the exchange, Program. out, under for program During with revolving $XXX term capital registered $XXX private million with the
at a five of in very capital when billion $XXX for debt we Mexican million and recently, swapped or with to price issued the the total US three More dollars. year equivalent MXNX maturity beginning competitive market July, debt tranches at of a successfully
a Capital Turning ratings. to our account model investment increase the on supports remain to pillar capital our X, to we a position, sound continue grade of which levels of Slide business committed resulting per share, $X.XX ratios and in targets capital appetite. internal with dividend quarters. solid from amount a improved risk quarterly our unchanged of line declared an preceding in The earnings, Board recently
Now turning X. to Slide
positive of XXXX, weighted stable continue of trend interest the a from financial by funding have side, We performance. see and last to On one points XX equity margin relatively return the quarter year top-line second strong average such improved preceding from X.XX% rates basis driving quarter. higher reached assets. asset Net remaining up the in in margins,
liability as and as rate in or asset positive spread last an This also reflects increasing turn over expanded other On interest interest well the proactive average the environment. the side, the in evolution differential net in interest a spreads rate of gap lending management rate year. a has
million months is basis funded at a net by relate or when half XX average six during interest $XX.X such year. of software, of spreads XX% to XXX attributable weighted with total, over the of million shown lending high sheet in on the effect increased increase the close an the net base have asset same the an rates growth $XX for last has income the by as X.XX% As that for strong or year rate points months of instance, returns to basis $XX over equity a interest before. to the Slide three X another of presented balance result, XXXX first NII the income market on year. share the points comparing million of by average has NII first period to of Out while increased the base of as
market increase rate Also, the margin same slightly from mostly over NII the impact net XXXX explained XX gap, the base sensitive $X period a when accounts $X change repricing effect volumes by another to of asset interest and by NII of for last has year. for first remaining The million interest the differential in a higher to basis points is mix. benefited variation. created liability adding half in rates of and higher asset million The the bank compared a in the of net
basis points assuming forma would basis, around rates an X.X%, from X% X.XX% the estimated level. by pro terminal XX of interest the net current margin to decrease a On
We expect of NII. in to contemplated next see rates lower happen results which years, market course plan various strategic of offset this our in expect of that progressively more impact couple a over than period of our we during the the to the initiatives the will
as deals structured in share our medium-term clients increased as Among finance, funding lending, mentioning accretion higher continued loans deposit lending and and on project syndicated those, enhanced finance corporate corporate participation in products base. trade from both worth well in the it spreads is our lower from costs of
we income complement Additionally, increased will of the letters deployment revenue products, expect non-interest from further levels. syndications of treasury which and credit,
sell continuing balance Slide perform income well as well I'm have both we to increased the by structuring and letters and as on with sorry, total mostly for acquisition to of and from X, new moving So of volumes other as clients. have quarter business, fees fee and well, XX% -- cross syndications seen to activity over greater guarantees, year. from credit as XXXX the fees transaction second as in last Together related fees of
that business pickup year activity transactions second foresee continue and a as the to strong showing we We LC the pipeline results. expect in performance should a have of syndication of a half bear in the
million, asset but XX, closely categorized for X XX% X since monitored remains total classified as Slide Stage for Stage experienced IFRSX. credits has as were currently which credit on increased another shown robust, defined Accounting As consisting risk performing. total portfolio by a under as all low X% quality $XXX origination of of of credits, are with risk
and Finally, portfolio of decreased was sector, X million, off X reserve fully now for exposure of deteriorated impaired which growth million, and a Stage reserves. credits coverage quarter the credit X.X% the to and $XX Stage in lesser XXXX to the impaired having reserved. is written to previously exposure X total financial or non-bank provision $X.X total amount times a related amounted Credit to increase charges to to extent first mostly balance of five to credits. Overall, close
to second solid of of for around continue in trend new close growth having we our salary result efficiency, bank's a a the of as over XX, positive in cost to level Slide year increased the the hires, bank capabilities a maintaining income quarter plan. on Bladex’s the revenue strengthening focus our XX% On ‘XX as control, see and cost delineated strategic execution the base with concurrent last on
call the back now me Let Jorge here and to it for remarks. for final you. leave Thank turn his
