<SEC-DOCUMENT>0001144204-13-040087.txt : 20130718
<SEC-HEADER>0001144204-13-040087.hdr.sgml : 20130718
<ACCEPTANCE-DATETIME>20130718133257
ACCESSION NUMBER:		0001144204-13-040087
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20130718
FILED AS OF DATE:		20130718
DATE AS OF CHANGE:		20130718

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FOREIGN TRADE BANK OF LATIN AMERICA, INC.
		CENTRAL INDEX KEY:			0000890541
		STANDARD INDUSTRIAL CLASSIFICATION:	COMMERCIAL BANKS, NEC [6029]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11414
		FILM NUMBER:		13974512

	BUSINESS ADDRESS:	
		STREET 1:		BUSINESS PARK, TORRE V, PISO 5
		STREET 2:		AVENIDA LA ROTONDA
		CITY:			URBANIZACI?N COSTA DEL ESTE
		STATE:			R1
		ZIP:			000000
		BUSINESS PHONE:		5072108674

	MAIL ADDRESS:	
		STREET 1:		0819-08730
		CITY:			PANAM?
		STATE:			R1
		ZIP:			00000

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	LATIN AMERICAN EXPORT BANK
		DATE OF NAME CHANGE:	19940829
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>v350284_6-k.htm
<DESCRIPTION>FORM 6-K
<TEXT>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>SECURITIES AND EXCHANGE
COMMISSION</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Washington, D.C.
20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>FORM 6-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">REPORT OF FOREIGN PRIVATE ISSUER</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">PURSUANT TO RULE 13a-16
OR 15d-16 UNDER THE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">SECURITIES EXCHANGE
ACT OF 1934</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Short Form of Press Release</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>BANCO LATINOAMERICANO DE COMERCIO EXTERIOR,
S.A.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Exact name of Registrant as specified in
its Charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>FOREIGN TRADE BANK OF LATIN AMERICA,
INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Translation of Registrant&rsquo;s
name into English)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Business Park, Torre V, Ave. La Rotonda,
Costa del Este</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">P.O. Box 0819-08730</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Panama City, Republic of Panama</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Address of Registrant&rsquo;s
Principal Executive Offices)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(Indicate by check mark whether the registrant
files or will file annual reports under cover of Form 20-F or Form 40-F.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Form 20-F <FONT STYLE="font-family: Wingdings">&#120;</FONT>&nbsp;&nbsp; Form 40-F <FONT STYLE="font-family: Wingdings">&#168;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(Indicate by check mark whether the registrant
by furnishing the information contained in this Form is also thereby furnishing information to the Commission pursuant to Rule
12g-3-2(b) under the Securities Exchange Act of 1934.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Yes&nbsp;<FONT STYLE="font-family: Wingdings">&#168;</FONT>&nbsp;  No <FONT STYLE="font-family: Wingdings">&#120;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(If &ldquo;Yes&rdquo; is marked, indicate
below the file number assigned to the registrant in connection with Rule 12g3-2(b). 82__.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned,
thereto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">July 18, 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify"><FONT STYLE="color: black">FOREIGN TRADE BANK OF LATIN AMERICA, INC.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: justify; width: 10%">&nbsp;</TD>
    <TD STYLE="text-align: justify; width: 40%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="color: black">By: /s/ Pedro Toll</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="color: black">Name: Pedro Toll</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="color: black">Title: General Manager</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B><IMG SRC="logo.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>BLADEX SECOND QUARTER 2013 NET INCOME
REACHES $21.7 MILLION, OR $0.57 PER SHARE ON COMMERCIAL PORTFOLIO GROWTH (+7% QoQ, +18% YoY) AND HIGHER NET INTEREST INCOME (+13%
QoQ and YoY).</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>PANAMA CITY, July 18, 2013</B> &ndash;
Banco Latinoamericano de Comercio Exterior, S.A. (NYSE: BLX, &ldquo;Bladex&rdquo;, or &ldquo;the Bank&rdquo;) announced today its
results for the second quarter and the six months ended June 30, 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Second Quarter and Half-Year 2013 Business
Highlights</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The Bank&rsquo;s second quarter 2013 Net
Income <SUP>(*)</SUP> reached $21.7 million, or $0.57 per share, compared to $16.3 million, or $0.43 per share, in the previous
quarter, and $23.2 million, or $0.61 per share in the second quarter 2012. The $5.4 million, or 33%, increase in Net Income versus
the previous quarter was mainly driven by improved results from the Commercial Division and Treasury activities, partially offset
by higher generic provision requirements due to portfolio growth. The decrease versus the second quarter 2012 was largely driven
by the $5.6 million gain on sale of premises and equipment recorded in the second quarter 2012, while net operating income grew
12% YoY.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The Commercial Division&rsquo;s portfolio
balance grew 7% quarter-on-quarter and 18% year-on-year, to $6.7 billion as of June 30, 2013, mainly attributable to strong demand
in the Bank&rsquo;s client base of Corporations and Financial Institutions (+7% QoQ; +16% YoY), along with increased diversification
into the Middle-Market segment (+5% QoQ; +43% YoY). Average balances reached $6.2 billion in the second quarter 2013 (+5% QoQ;
+16% YoY).</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Credit disbursements totaled $4.0 billion
in the second quarter 2013, a 13% increase versus the first quarter 2013, and a 53% increase compared to the second quarter 2012,
as credit demand strengthened, mainly from financial institutions. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Net interest income reached $29.4 million
in the second quarter 2013 (+13% QoQ and YoY), mainly driven by a reduction in the average cost of funds, despite the accelerated
amortization of commission expense from debt prepayments, and the amortization expense of financial instruments for which hedge
accounting was discontinued in the third quarter 2012.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Fees and commissions totaled $2.8 million
in the second quarter 2013 (+18% QoQ; +21% YoY), mainly as a result of growth in contingency and letters of credit transactions,
while the number of executed mandated transactions and our pipeline of intermediation activities increased, as well. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Deposit balances reached a new high at
$2.8 billion as of June 30, 2013 (+7% QoQ; +17% YoY), and represent 44% of total liabilities at the end of the second quarter 2013.
Short-term borrowings and securities sold under repurchase agreements (&ldquo;Repos&rdquo;) totaled $2.4 billion as of June 30,
2013 (+37% QoQ; +177% YoY), while borrowings and long-term debt decreased to $1.0 billion (-39% QoQ; -52% YoY), as the Bank opted
to make debt prepayments.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><SUP>(*) </SUP>Net income or loss attributable
to Bladex Stockholders (&ldquo;Net Income&rdquo;, or &ldquo;Net Loss&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>CEO's Comments</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Mr. Rubens V. Amaral, Jr., Bladex&rsquo;s
Chief Executive Officer, stated the following regarding the Bank&rsquo;s Second Quarter 2013 results: &ldquo;Bladex continues&nbsp;to
deliver on its commitment to attain critical mass by increasing disbursements in a consistent manner, deploying medium term funding,
and increasing net interest margin.&nbsp; In a market environment jolted by potentially significant changes in secular trends &ndash;
the FED&acute;s QE tapering and its potential impact on global capital flows, the growth dynamics of China and its impact on commodity
prices, growth prospects in Latin America to name just a few &ndash;&nbsp;we are convinced that Bladex continues well-positioned
to provide solutions that benefit our clients, and to produce the results that meet the expectations of our shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">With regards to financial results, Bladex
continued to grow its book of business this quarter with solid momentum, while strengthening earnings and earnings quality, all
without compromising credit quality. The expansion of Net Interest Margin and Fee Income is underway, and is expected to accelerate
in the following quarters on the basis of actions already taken so far this year, and of the pipeline of opportunities in the process
of being closed.&nbsp;&nbsp;Bladex stands to benefit from a gradual rise in market rates, as its short-term portfolio of floating
rate assets and liabilities allows it to react swiftly to changes in rates and margins. Controllable expenses are starting to taper
as our focus on operating efficiency is gradually yielding results, and our efficiency ratio is trending in the right direction.&nbsp;&nbsp;Overall,
we are encouraged to see Bladex&rsquo;s core business firmly on track, and gaining speed,&rdquo; Mr. Amaral concluded.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>CONSOLIDATED RESULTS OF OPERATIONS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>KEY FINANCIAL FIGURES AND RATIOS </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: windowtext">The
following table illustrates the consolidated results of operations of the Bank for the periods indicated below:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: top; width: 55%; border-top: windowtext 1pt solid; border-bottom: windowtext 1pt solid; background-color: white"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(US$ million, except percentages and per share amounts)</FONT></TD>
    <TD STYLE="width: 9%; border-top: windowtext 1pt solid; border-bottom: windowtext 1pt solid; background-color: #BFBFBF; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>6M13</B></FONT></TD>
    <TD STYLE="width: 9%; border-top: windowtext 1pt solid; border-bottom: windowtext 1pt solid; background-color: white; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>6M12</B></FONT></TD>
    <TD STYLE="width: 9%; border-top: windowtext 1pt solid; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; background-color: #BFBFBF; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2Q13</B></FONT></TD>
    <TD STYLE="width: 9%; border-top: windowtext 1pt solid; border-bottom: windowtext 1pt solid; background-color: white; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>1Q13</B></FONT></TD>
    <TD STYLE="width: 9%; border-top: windowtext 1pt solid; border-bottom: windowtext 1pt solid; background-color: white; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2Q12</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Net Interest Income</FONT></TD>
    <TD STYLE="background-color: #BFBFBF; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$55.4 </FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$55.6 </FONT></TD>
    <TD STYLE="border-left: windowtext 1pt solid; background-color: #BFBFBF; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$29.4 </FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$26.0 </FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$26.0 </FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Net Operating Income (Loss) by Business Segment:</FONT></TD>
    <TD STYLE="background-color: #BFBFBF; text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: white; text-align: right">&nbsp;</TD>
    <TD STYLE="border-left: windowtext 1pt solid; background-color: #BFBFBF; text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: white; text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: white; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;Commercial Division </FONT></TD>
    <TD STYLE="background-color: #BFBFBF; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$41.7 </FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$41.9 </FONT></TD>
    <TD STYLE="border-left: windowtext 1pt solid; background-color: #BFBFBF; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$21.3 </FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$20.4 </FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$20.6 </FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;Treasury Division</FONT></TD>
    <TD STYLE="background-color: #BFBFBF; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$0.5 </FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$9.1 </FONT></TD>
    <TD STYLE="border-left: windowtext 1pt solid; background-color: #BFBFBF; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$4.3 </FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">($3.8)</FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$2.1 </FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Net Operating Income</FONT></TD>
    <TD STYLE="background-color: #BFBFBF; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$42.2 </FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$51.0 </FONT></TD>
    <TD STYLE="border-left: windowtext 1pt solid; background-color: #BFBFBF; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$25.6 </FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$16.6 </FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$22.8 </FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Net income - business segment</FONT></TD>
    <TD STYLE="background-color: #BFBFBF; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$39.5 </FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$50.5 </FONT></TD>
    <TD STYLE="border-left: windowtext 1pt solid; background-color: #BFBFBF; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$23.1 </FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$16.3 </FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$17.9 </FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Net income attributable to the redeemable noncontrolling interest</FONT></TD>
    <TD STYLE="background-color: #BFBFBF; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$1.5 </FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$0.2 </FONT></TD>
    <TD STYLE="border-left: windowtext 1pt solid; background-color: #BFBFBF; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$1.4 </FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$0.0 </FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$0.1 </FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Net Income attributable to Bladex Stockholders - business segment</FONT></TD>
    <TD STYLE="background-color: #BFBFBF; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$38.0 </FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$50.3 </FONT></TD>
    <TD STYLE="border-left: windowtext 1pt solid; background-color: #BFBFBF; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$21.7 </FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$16.3 </FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$17.8 </FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Other income unallocated - Gain on sale of premises and equipment</FONT></TD>
    <TD STYLE="background-color: #BFBFBF; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$0.0 </FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$5.6 </FONT></TD>
    <TD STYLE="border-left: windowtext 1pt solid; background-color: #BFBFBF; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$0.0 </FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$0.0 </FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$5.6 </FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Net loss from discontinued operations</FONT></TD>
    <TD STYLE="background-color: #BFBFBF; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$0.0 </FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">($0.5)</FONT></TD>
    <TD STYLE="border-left: windowtext 1pt solid; background-color: #BFBFBF; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$0.0 </FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$0.0 </FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">($0.2)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Net Income attributable to Bladex Stockholders</FONT></TD>
    <TD STYLE="background-color: #BFBFBF; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$38.0 </FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$55.4 </FONT></TD>
    <TD STYLE="border-left: windowtext 1pt solid; background-color: #BFBFBF; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$21.7 </FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$16.3 </FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$23.2 </FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: #BFBFBF; text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: white; text-align: right">&nbsp;</TD>
    <TD STYLE="border-left: windowtext 1pt solid; background-color: #BFBFBF; text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: white; text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: white; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Net Income per Share <SUP>(1)</SUP></FONT></TD>
    <TD STYLE="background-color: #BFBFBF; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$0.99 </FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$1.48 </FONT></TD>
    <TD STYLE="border-left: windowtext 1pt solid; background-color: #BFBFBF; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$0.57 </FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$0.43 </FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$0.61 </FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Book Value per common share (period end)</FONT></TD>
    <TD STYLE="background-color: #BFBFBF; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$21.87 </FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$21.29 </FONT></TD>
    <TD STYLE="border-left: windowtext 1pt solid; background-color: #BFBFBF; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$21.87 </FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$22.02 </FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$21.29 </FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Return on Average Equity (&ldquo;ROE&rdquo;) </FONT></TD>
    <TD STYLE="background-color: #BFBFBF; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">9.1%</FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">14.1%</FONT></TD>
    <TD STYLE="border-left: windowtext 1pt solid; background-color: #BFBFBF; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.3%</FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">7.9%</FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">11.7%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Operating Return on Average Equity (&quot;Operating ROE&quot;)<SUP> (2)</SUP></FONT></TD>
    <TD STYLE="background-color: #BFBFBF; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.1%</FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">13.0%</FONT></TD>
    <TD STYLE="border-left: windowtext 1pt solid; background-color: #BFBFBF; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">12.2%</FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8.1%</FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">11.5%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Return on Average Assets (&ldquo;ROA&rdquo;)</FONT></TD>
    <TD STYLE="background-color: #BFBFBF; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1.1%</FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1.8%</FONT></TD>
    <TD STYLE="border-left: windowtext 1pt solid; background-color: #BFBFBF; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1.3%</FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1.0%</FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1.5%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Net Interest Margin</FONT></TD>
    <TD STYLE="background-color: #BFBFBF; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1.67%</FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1.81%</FONT></TD>
    <TD STYLE="border-left: windowtext 1pt solid; background-color: #BFBFBF; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1.72%</FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1.62%</FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1.72%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Efficiency Ratio <SUP>(3)</SUP></FONT></TD>
    <TD STYLE="background-color: #BFBFBF; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">40%</FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">34%</FONT></TD>
    <TD STYLE="border-left: windowtext 1pt solid; background-color: #BFBFBF; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">36%</FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">45%</FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">37%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: #BFBFBF; text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: white; text-align: right">&nbsp;</TD>
    <TD STYLE="border-left: windowtext 1pt solid; background-color: #BFBFBF; text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: white; text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: white; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Tier 1 Capital <SUP>(4)</SUP></FONT></TD>
    <TD STYLE="background-color: #BFBFBF; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$854 </FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$808 </FONT></TD>
    <TD STYLE="border-left: windowtext 1pt solid; background-color: #BFBFBF; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$854 </FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$845 </FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$808 </FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Total Capital <SUP>(5)</SUP></FONT></TD>
    <TD STYLE="background-color: #BFBFBF; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$921 </FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$864 </FONT></TD>
    <TD STYLE="border-left: windowtext 1pt solid; background-color: #BFBFBF; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$921 </FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$909 </FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$864 </FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Risk-Weighted Assets</FONT></TD>
    <TD STYLE="background-color: #BFBFBF; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$5,369</FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$4,443</FONT></TD>
    <TD STYLE="border-left: windowtext 1pt solid; background-color: #BFBFBF; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$5,369</FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$5,098</FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$4,443</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Tier 1 Capital Ratio <SUP>(4)</SUP></FONT></TD>
    <TD STYLE="background-color: #BFBFBF; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">15.9%</FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">18.2%</FONT></TD>
    <TD STYLE="border-left: windowtext 1pt solid; background-color: #BFBFBF; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">15.9%</FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">16.6%</FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">18.2%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Total Capital Ratio <SUP>(5)</SUP></FONT></TD>
    <TD STYLE="background-color: #BFBFBF; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">17.1%</FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">19.4%</FONT></TD>
    <TD STYLE="border-left: windowtext 1pt solid; background-color: #BFBFBF; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">17.1%</FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">17.8%</FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">19.4%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Stockholders&rsquo; Equity</FONT></TD>
    <TD STYLE="background-color: #BFBFBF; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$840 </FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$808 </FONT></TD>
    <TD STYLE="border-left: windowtext 1pt solid; background-color: #BFBFBF; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$840 </FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$845 </FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$808 </FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Stockholders&rsquo; Equity to Total Assets</FONT></TD>
    <TD STYLE="background-color: #BFBFBF; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">11.6%</FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">13.0%</FONT></TD>
    <TD STYLE="border-left: windowtext 1pt solid; background-color: #BFBFBF; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">11.6%</FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">12.3%</FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">13.0%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Accumulated other comprehensive income (loss) (&quot;OCI&quot;)</FONT></TD>
    <TD STYLE="background-color: #BFBFBF; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">($17)</FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">($1)</FONT></TD>
    <TD STYLE="border-left: windowtext 1pt solid; background-color: #BFBFBF; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">($17)</FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">($1)</FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">($1)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: #BFBFBF; text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: white; text-align: right">&nbsp;</TD>
    <TD STYLE="border-left: windowtext 1pt solid; background-color: #BFBFBF; text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: white; text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: white; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Leverage (times) <SUP>(6)</SUP></FONT></TD>
    <TD STYLE="background-color: #BFBFBF; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8.6</FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">7.7</FONT></TD>
    <TD STYLE="border-left: windowtext 1pt solid; background-color: #BFBFBF; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8.6</FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8.2</FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">7.7</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; background-color: white; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Liquid Assets / Total Assets <SUP>(7)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8.4%</FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">11.3%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-left: windowtext 1pt solid; background-color: #BFBFBF; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8.4%</FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8.3%</FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">11.3%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Liquid Assets / Total Deposits</FONT></TD>
    <TD STYLE="background-color: #BFBFBF; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">22.0%</FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">29.5%</FONT></TD>
    <TD STYLE="border-left: windowtext 1pt solid; background-color: #BFBFBF; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">22.0%</FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">22.1%</FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">29.5%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: #BFBFBF; text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: white; text-align: right">&nbsp;</TD>
    <TD STYLE="border-left: windowtext 1pt solid; background-color: #BFBFBF; text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: white; text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: white; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Non-Accruing Loans to Total Loans, net</FONT></TD>
    <TD STYLE="background-color: #BFBFBF; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">0.0%</FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">0.5%</FONT></TD>
    <TD STYLE="border-left: windowtext 1pt solid; background-color: #BFBFBF; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">0.0%</FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">0.0%</FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">0.5%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Allowance for Credit Losses to Commercial Portfolio</FONT></TD>
    <TD STYLE="background-color: #BFBFBF; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1.2%</FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1.6%</FONT></TD>
    <TD STYLE="border-left: windowtext 1pt solid; background-color: #BFBFBF; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1.2%</FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1.3%</FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1.6%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Credit provision to non-accruing balances</FONT></TD>
    <TD STYLE="background-color: #BFBFBF; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">n.m.<SUP> (*)</SUP></FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">383.9%</FONT></TD>
    <TD STYLE="border-left: windowtext 1pt solid; background-color: #BFBFBF; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">n.m.<SUP> (*)</SUP></FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">n.m.<SUP> (*)</SUP></FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">383.9%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: #BFBFBF; text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: white; text-align: right">&nbsp;</TD>
    <TD STYLE="border-left: windowtext 1pt solid; background-color: #BFBFBF; text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: white; text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: white; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: windowtext 1pt solid; background-color: white"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Total Assets</FONT></TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; background-color: #BFBFBF; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$7,243</FONT></TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$6,227</FONT></TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; background-color: #BFBFBF; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$7,243</FONT></TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$6,894</FONT></TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; background-color: white; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$6,227</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD NOWRAP><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><SUP>(*)</SUP> &quot;n.m.&quot; means not meaningful.</FONT></TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>RECENT EVENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings">&sect;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Quarterly dividend payment: </B>At
the Board of Director&rsquo;s meeting held July 16, 2013, the Bank&rsquo;s Board approved a quarterly common dividend of $0.30
per share corresponding to the second quarter 2013. The dividend will be paid on August 6, 2013, to stockholders registered as
of July 29, 2013.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings">&sect;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Ratings affirmed: </B>On July 4, 2013,
Standard &amp; Poor&rsquo;s affirmed the Bank&rsquo;s credit rating at BBB/A-2; with a &ldquo;Stable&rdquo; Outlook. On May 8,
2013, Moody&rsquo;s Investors Service affirmed the Bank&rsquo;s credit rating at Baa2/P-2; with a &ldquo;Stable&rdquo; Outlook.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Note: </B>Various numbers and percentages
set forth in this press release have been rounded and, accordingly, may not total exactly. <B> </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Footnotes:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(1)</TD><TD STYLE="text-align: justify">Net Income per Share calculations are based on the average number of shares outstanding during
each period.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(2)</TD><TD STYLE="text-align: justify">Operating ROE: Annualized net operating income divided by average stockholders&rsquo; equity.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(3)</TD><TD STYLE="text-align: justify">Efficiency ratio refers to consolidated operating expenses as a percentage of net operating revenues.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(4)</TD><TD STYLE="text-align: justify">Tier 1 Capital is calculated according to Basel I capital adequacy guidelines, and is equivalent
to stockholders&rsquo; equity excluding the OCI effect of the Available for Sale portfolio. Tier 1 Capital ratio is calculated
as a percentage of risk weighted assets. Risk-weighted assets are, in turn, also calculated based on Basel I capital adequacy guidelines.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(5)</TD><TD STYLE="text-align: justify">Total Capital refers to Tier 1 Capital plus Tier 2 Capital, based on Basel I capital adequacy guidelines.
Total Capital ratio refers to Total Capital as a percentage of risk weighted assets.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(6)</TD><TD STYLE="text-align: justify">Leverage corresponds to assets divided by stockholders&rsquo; equity.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(7)</TD><TD STYLE="text-align: justify">Liquid assets consist of investment-grade &lsquo;A&rsquo; securities, and cash and due from banks,
excluding pledged regulatory deposits. Liquidity ratio refers to liquid assets as a percentage of total assets.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>SAFE HARBOR STATEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="border: navy 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 5pt 0pt 0; text-align: justify"><I>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 credit portfolio, including the trade portfolio,
the increase in the number of the Bank&rsquo;s corporate clients, the positive trend of lending spreads, the increase in activities
engaged in by the Bank that are derived from the Bank&rsquo;s client base, anticipated operating income and return on equity in
future periods, including income derived from the Treasury Division, the improvement in the financial and performance strength
of the Bank and the progress the Bank is making. These forward-looking statements reflect the expectations of the Bank&rsquo;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&rsquo;s expectations. Among the factors that can cause actual
performance and results to differ materially are as follows: the anticipated growth of the Bank&rsquo;s credit portfolio; the continuation
of the Bank&rsquo;s preferred creditor status; the impact of increasing/decreasing interest rates and of the macroeconomic environment
in the Region on the Bank&rsquo;s financial condition; the execution of the Bank&rsquo;s strategies and initiatives, including
its revenue diversification strategy; the adequacy of the Bank&rsquo;s allowance for credit losses; the need for additional provisions
for credit losses; the Bank&rsquo;s ability to achieve future growth, to reduce its liquidity levels and increase its leverage;
the Bank&rsquo;s ability to maintain its investment-grade credit ratings; the availability and mix of future sources of funding
for the Bank&rsquo;s lending operations; potential trading losses; the possibility of fraud; and the adequacy of the Bank&rsquo;s
sources of liquidity to replace deposit withdrawals. </I></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">About Bladex</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Bladex is a supranational bank originally
established by the Central Banks of Latin American and Caribbean countries to support trade finance in the Region. Based in Panama,
its shareholders include central banks and state-owned entities in 23 countries in the Region, as well as Latin American and international
commercial banks, along with institutional and retail investors. Through June 30, 2013, Bladex had disbursed accumulated credits
of nearly $200 billion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Conference Call Information</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">There will be a conference call to discuss
the Bank&rsquo;s quarterly results on Friday, July 19, 2013 at 11:00 a.m. New York City time (Eastern Time).&nbsp; For those interested
in participating, please dial (800) 311-9401 in the United States or, if outside the United States, (334) 323-7224.&nbsp; Participants
should use conference ID# 8034, and dial in five minutes before the call is set to begin.&nbsp; There will also be a live audio
webcast of the conference at http://<FONT STYLE="text-underline-style: none">www.bladex.com</FONT>. The webcast presentation is
available for viewing and download on http://www.bladex.com.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The conference call will become available
for review on Conference Replay one hour after its conclusion, and will remain available&nbsp;for 60 days. Please dial&nbsp;<FONT STYLE="text-underline-style: none">(877)
919-4059</FONT>&nbsp;or&nbsp;<FONT STYLE="text-underline-style: none">(334) 323-7226</FONT>,&nbsp;and follow the instructions.&nbsp;
The replay passcode is: 54300959.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For more information, please access http://www.bladex.com
or contact:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Mr. Christopher Schech</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Chief Financial Officer</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Bladex</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Business Park Torre V, Piso 5</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Avenida La Rotonda</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Urbanizaci&oacute;n Costa del Este</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Panama City, Panama</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Tel: (507) 210-8630</P>

<P STYLE="color: #30417E; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: windowtext">E-mail
address: </FONT><U>cschech@bladex.com</U><FONT STYLE="color: windowtext"> </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



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