PANAMA CITY and MUMBAI, India, Nov. 10 /PRNewswire-FirstCall/ -- Banco
Latinoamericano de Exportaciones S.A. (NYSE: BLX) (Bladex), a leading provider
of trade finance in Latin America and the Caribbean, announced today that it
has chosen i-flex(R) solutions (Reuters: IFLX.BO IFLX.NS) to lead its
technology transformation process. Bladex is i-flex's first customer in Panama
and the Central American region and is a testimony to the company's continued
success across the Latin American Region.
Bladex is also the first bank in Latin America to opt for a comprehensive
suite of solutions from i-flex, encompassing FLEXCUBE(R), Reveleus(TM),
FLEXCUBE Reporting Services (FRS), Business Process Consulting Services and
Technology Deployment and Management Services (TDMS).
The solutions will allow Bladex to focus on its core business by
automating its processes and enabling easy and fast dissemination of
information to its affiliates.
"We are excited about having found in i-flex a competitive technology for
our information and processing needs," stated Bladex's Chief Executive
Officer, Jaime Rivera. He added, "Such a best-in-class platform reduces the
risks often associated with comparable type implementations, and speeds our
deployment of new services for our clients."
The Bank chose FLEXCUBE because of its capability to scale up to future
expansion plans and its ability to serve as a platform for the Bank to offer
new products and services to its clients. In addition, the technology will
help in the implementation of a more efficient reporting infrastructure for
the Bank in line with compliance requirements of regulatory bodies both in
Panama and the United States.
"Banks in Latin America are moving away from proprietary technologies and
increasingly opting for flexible solutions to broaden the scope of their
offerings and increase profitability. i-flex is proud to help Bladex take the
initiative in this regard. The nature of the implementation showcases the
breadth of our offerings across products and services and also demonstrates
our ability to resolve real world problems faced by banks," said
R. Ravisankar, CEO, International Operations and Business Development.
About Bladex
Bladex is a supranational bank originally established by the Central Banks
of Latin America and Caribbean countries to promote trade finance in the
Region. Based in Panama, its shareholders include central and state-owned
entities in 23 countries of the Region, Latin American, international
commercial banks, and institutional and retail investors.
Additional information is available at http://www.blx.com .
About i-flex solutions
i-flex(R) solutions (Reuters: IFLX.BO IFLX.NS) a world leader in providing
IT solutions to the financial services industry, has serviced over 590
customers in more than 115 countries. i-flex's range of products, custom
solutions and consulting services enable financial institutions to cut costs,
respond rapidly to market needs, enhance customer service levels and mitigate
risk.
i-flex and FLEXCUBE are registered trademarks of i-flex solutions.
Reveleus, Daybreak and PrimeSourcing are trademarks of i-flex solutions and
are registered in several countries.
All company and product names are trademarks of the respective companies
with which they are associated.
For more information, please visit: http://www.iflexsolutions.com .
BLADEX SAFE HARBOR STATEMENT
This press release contains forward-looking statements of expected future
developments. The Bank wishes to ensure that such statements are accompanied
by meaningful cautionary statements pursuant to the safe harbor established by
the Private Securities Litigation Reform Act of 1995. The forward-looking
statements in this press release refer to the growth of the trade portfolio,
the increase in the number of the Bank's clients, the increase in activities
engaged in by the Bank that are derived from the Bank's trade finance client
base, anticipated operating income in future periods, the improvement in the
financial strength of the Bank and the progress the Bank is making. These
forward-looking statements reflect the expectations of the Bank's management
and are based on currently available data; however, actual experience with
respect to these factors is subject to future events and uncertainties, which
could materially impact the Bank's expectations. Among the factors that can
cause actual performance and results to differ materially are as follows: the
possibility that the Bank will need to renegotiate, restructure or write-off
certain of its Argentine loans; the possibility of pre-payments; the
anticipated growth of the Bank's trade finance portfolio; the continuation of
the Bank's preferred creditor status; the effects of increased interest rates
on the Bank's financial condition; the implementation of the Bank's strategies
and initiatives, including its revenue diversification strategy; the pending
applications in the United States to open a representative office in Miami,
Florida; the adequacy of the Bank's allowance for credit losses to address the
likely impact of the Argentine crisis and other credit risks on the Bank's
loan portfolio; the necessity of making additional provisions for credit
losses; the Bank's ability to achieve future growth, to reduce its liquidity
levels and increase its leverage; the Bank's ability to maintain its
investment-grade credit ratings; the availability and mix of future sources of
funding for the Bank's lending operations; and the adequacy of the Bank's
sources of liquidity to cover large deposit withdrawals.
Contacts for Bladex:
Mr. Carlos Yap
Senior V.P., Finance
Tel: +1-507-210-8581
e-mail: cyap@blx.com
-or-
Investor Relations Firm
i-advize Corporate Communications, Inc.
Melanie Carpenter / Peter Majeski
Tel: +1-212-406-3690
e-mail: bladex@i-advize.com
Contacts for i-flex(R) solutions:
INDIA:
Eapen Thomas
Tel: +91-22-2823-5190, ext. 5132
Fax: +91-22-2836-3140
E-mail: eapen.thomas@iflexsolutions.com
Ramya B S
Tel: +91-80-22087294
Fax: +91-80-25345090 / 56665271
E-mail: bs.ramya@iflexsolutions.com
APAC Parvez Ahmad
Tel: +65-6238-1900, ext. 212
Fax: +65-6238-1282
E-mail: parvez.ahmad@iflexsolutions.com
NORTH AMERICA & LATIN AMERICA:
Penney Richardson or Hugo Gordillo
Tel: +1-415-771-8106 or 646-619-5402
Email: penney.richardson@iflexsolutions.com
EUROPE:
Sunil Robert
Tel: +44-207-5314424
Cellular: +44-7834461271
E-mail: Sunil.robert@iflexsolutions.com
Adfactors PR Pvt. Ltd.
Zarina Hodiwalla
Mumbai
Phone: +91-22-22813565
Cellular: 98204-00174
Email: zarina@adfactorspr.com
SOURCE Bladex
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Related links:
http://www.blx.com
http://www.iflexsolutions.com
CONTACT:
Carlos Yap, Senior V.P., Finance, Bladex,
+1-507-210-8581, or cyap@blx.com; or Peter Majeski or Melanie
Carpenter, i-advize Corporate Communications, Inc.,
+1-212-406-3690, or bladex@i-advize.com, both for Bladex; or in
India - Eapen Thomas, +91-22-2823-5190, ext. 5132, or fax,
+91-22-2836-3140, or eapen.thomas@iflexsolutions.com, or Ramya B.
S., +91-80-22087294, or fax, +91-80-25345090, or 56665271, or
bs.ramya@iflexsolutions.com, or APAC Parvez Ahmad, +65-6238-1900,
ext. 212, or fax, +65-6238-1282, or
parvez.ahmad@iflexsolutions.com; in North America and Latin
America - Penney Richardson or Hugo Gordillo, +1-415-771-8106, or
646-619-5402, or penney.richardson@iflexsolutions.com; in Europe
- Sunil Robert, +44-207-5314424, or +44-7834461271, or
sunil.robert@iflexsolutions.com, all of i-flex solutions; or
Zarina Hodiwalla, +91-22-22813565, or 98204-00174, or
zarina@adfactorspr.com, for i-flex solutions
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