6. Banco Latinoamericano de Comercio Exterior ( BLX) is a Panama-based supranational bank established by the Central Banks of Latin American and Caribbean countries to support trade finance in the region. During the first quarter of 2011, net income was $16.3 million, a 61% increase compared to the first quarter of 2010 on improved growth in its commercial portfolio and its investment fund. The bank's commercial portfolio grew $1.5 billion, or 47% year-over-year in the March quarter. Credit disbursements amounted to $2.3 billion in the first quarter as against $1.3 billion in the same period of the prior year. Funding costs improved both year-over-year and sequentially as weighted average funding cost in the first quarter 2011 was 1.09%, narrowing 34 bps from the year-ago quarter, and contracting 8 bps from the fourth quarter of 2010. The bank's March quarter efficiency ratio improved to 40% from 62% in the first quarter of 2010. The stock has analysts' buy ratings of 75% and is likely to deliver 20% in the next one year.