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Loans | 12 Months Ended
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Dec. 31, 2014
Receivables [Abstract] |
Financing Receivables [Text Block] | 7. Loans The following table set forth details of the Bank’s loan portfolio:
|  | December 31, |
|  | 2014 |  | 2013 |
Corporations: |  |  |  |  |  |  |
Private |  |  | 3,120,005 |  |  | 2,375,178 |
State-owned |  |  | 711,955 |  |  | 938,878 |
Banking and financial institutions: |  |  |  |  |  |  |
Private |  |  | 1,890,605 |  |  | 1,785,798 |
State-owned |  |  | 480,331 |  |  | 474,193 |
Middle-market companies: |  |  |  |  |  |  |
Private |  |  | 483,348 |  |  | 574,107 |
Sovereign |  |  | - |  |  | 144 |
Total |  |  | 6,686,244 |  |  | 6,148,298 |
The composition of the loan portfolio by industry is as follows:
|  | December 31, |
|  | 2014 |  | 2013 |
Banking and financial institutions |  |  | 2,370,936 |  |  | 2,259,991 |
Industrial |  |  | 1,325,091 |  |  | 936,290 |
Oil and petroleum derived products |  |  | 1,013,324 |  |  | 1,170,684 |
Agricultural |  |  | 1,132,330 |  |  | 924,251 |
Services |  |  | 617,366 |  |  | 398,736 |
Mining |  |  | 38,572 |  |  | 10,000 |
Sovereign |  |  | - |  |  | 144 |
Others |  |  | 188,625 |  |  | 448,202 |
Total |  |  | 6,686,244 |  |  | 6,148,298 |
Loans classified by borrower’s credit quality indicators are as follows:
|  | December 31, 2014 |
|  |  |  |  |  |  |  | Banking and financial |  | Middle-market |  |  |  |  |  |  |
|  | Corporations |  | institutions |  | companies |  |  |  |  |  |  |
Rating (1) |  | Private |  | State-owned |  | Private |  | State-owned |  | Private |  | Sovereign |  | Total |
1-6 |  |  | 3,112,079 |  |  | 711,955 |  |  | 1,890,605 |  |  | 480,331 |  |  | 482,439 |  |  | - |  |  | 6,677,409 |
7 |  |  | 4,801 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 4,801 |
8 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 909 |  |  | - |  |  | 909 |
9 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |
10 |  |  | 3,125 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 3,125 |
Total |  |  | 3,120,005 |  |  | 711,955 |  |  | 1,890,605 |  |  | 480,331 |  |  | 483,348 |  |  | - |  |  | 6,686,244 |
|  | December 31, 2013 |
|  |  |  |  |  |  |  | Banking and financial |  | Middle-market |  |  |  |  |  |  |
|  | Corporations |  | institutions |  | companies |  |  |  |  |  |  |
Rating (1) |  | Private |  | State-owned |  | Private |  | State-owned |  | Private |  | Sovereign |  | Total |
1-6 |  |  | 2,372,053 |  |  | 938,878 |  |  | 1,785,798 |  |  | 474,193 |  |  | 574,107 |  |  | 144 |  |  | 6,145,173 |
7 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |
8 |  |  | 3,125 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 3,125 |
9 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |
10 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |
Total |  |  | 2,375,178 |  |  | 938,878 |  |  | 1,785,798 |  |  | 474,193 |  |  | 574,107 |  |  | 144 |  |  | 6,148,298 |
| (1) | Current ratings as of December 31, 2014 and 2013, respectively.
The remaining loan maturities are summarized as follows:
|  | December 31, |
|  | 2014 |  | 2013 |
Current |  |  |  |  |  |  |
Up to 1 month |  |  | 947,624 |  |  | 1,017,794 |
From 1 month to 3 months |  |  | 1,502,905 |  |  | 1,749,348 |
From 3 months to 6 months |  |  | 1,268,478 |  |  | 949,364 |
From 6 months to 1 year |  |  | 1,067,073 |  |  | 774,803 |
From 1 year to 2 years |  |  | 989,805 |  |  | 942,327 |
From 2 years to 5 years |  |  | 870,163 |  |  | 711,537 |
From 5 years to 7 years |  |  | 31,361 |  |  | - |
|  |  | 6,677,409 |  |  | 6,145,173 |
Delinquent |  |  | 4,801 |  |  | - |
Impaired: |  |  |  |  |  |  |
Delinquent with impairment |  |  | - |  |  | 3,125 |
Past due with impairment |  |  | 4,034 |  |  | - |
|  |  | 8,835 |  |  | 3,125 |
Total |  |  | 6,686,244 |  |  | 6,148,298 |
The following table provides a breakdown of loans by country risk:
|  | December 31, |
|  | 2014 |  | 2013 |
Country: |  |  |  |  |  |  |
Argentina |  |  | 184,882 |  |  | 189,828 |
Bolivia |  |  | 10,000 |  |  | - |
Brazil |  |  | 1,971,776 |  |  | 1,708,592 |
Chile |  |  | 157,309 |  |  | 490,869 |
Colombia |  |  | 726,085 |  |  | 701,577 |
Costa Rica |  |  | 320,832 |  |  | 410,295 |
Dominican Republic |  |  | 243,038 |  |  | 190,589 |
Ecuador |  |  | 120,010 |  |  | 126,001 |
El Salvador |  |  | 115,830 |  |  | 123,076 |
France |  |  | 6,000 |  |  | 101,006 |
Germany |  |  | 100,000 |  |  | - |
Guatemala |  |  | 262,733 |  |  | 199,873 |
Honduras |  |  | 93,008 |  |  | 73,524 |
Jamaica |  |  | 15,512 |  |  | 60,784 |
Mexico |  |  | 868,045 |  |  | 517,278 |
Netherlands |  |  | 10,455 |  |  | 14,867 |
Nicaragua |  |  | 7,856 |  |  | 7,823 |
Panama |  |  | 320,758 |  |  | 223,505 |
Paraguay |  |  | 132,479 |  |  | 102,244 |
Peru |  |  | 589,724 |  |  | 580,881 |
Switzerland |  |  | 50,000 |  |  | - |
Trinidad and Tobago |  |  | 165,042 |  |  | 142,642 |
United States of America |  |  | 55,370 |  |  | 28,283 |
Uruguay |  |  | 159,500 |  |  | 154,761 |
|  |  | 6,686,244 |  |  | 6,148,298 |
The fixed and floating interest rate distribution of the loan portfolio is as follows:
|  | December 31, |
|  | 2014 |  | 2013 |
Fixed interest rates |  |  | 3,322,817 |  |  | 3,252,331 |
Floating interest rates |  |  | 3,363,427 |  |  | 2,895,967 |
|  |  | 6,686,244 |  |  | 6,148,298 |
As of December 31, 2014 and 2013, 89% and 92%, respectively, of the loan portfolio at fixed interest rates has remaining maturities of less than 180 days.
The following is a summary of information of non-accruing loan balances, and interest amounts on non-accruing loans:
|  | December 31, |
|  | 2014 |  | 2013 |  | 2012 |
Loans in non-accrual status |  |  |  |  |  |  |  |  |  |
Private corporations |  |  | 3,125 |  |  | 3,125 |  |  | - |
Middle-market companies |  |  | 909 |  |  | - |  |  | - |
Total loans in non-accrual status |  |  | 4,034 |  |  | 3,125 |  |  | - |
Interest which would have been recorded if the loans |  |  |  |  |  |  |  |  |  |
had not been in a non-accrual status |  |  | 191 |  |  | 67 |  |  | - |
Interest income collected on non-accruing loans |  |  | 6 |  |  | - |  |  | 2,288 |
An analysis of non-accruing loans with impaired balances as of December 31, 2014 and, 2013 is detailed as follows:
|  | December 31, 2014 |  | 2014 |
|  |  |  |  | Unpaid |  |  |  | Average |  | Interest |
|  | Recorded |  | principal |  | Related |  | principal |  | income |
|  | investment |  | balance |  | allowance |  | loan balance |  | recognized |
With an allowance recorded |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Private corporations |  |  | 3,125 |  |  | 2,813 |  |  | 2,284 |  |  | 3,125 |  |  | - |
Middle-market companies |  |  | 909 |  |  | 40 |  |  | 131 |  |  | 339 |  |  | 6 |
Total |  |  | 4,034 |  |  | 2,853 |  |  | 2,415 |  |  | 3,464 |  |  | 6 |
|  | December 31, 2013 |  | 2013 |
|  |  |  |  | Unpaid |  |  |  | Average |  | Interest |
|  | Recorded |  | principal |  | Related |  | principal |  | income |
|  | investment |  | balance |  | allowance |  | loan balance |  | recognized |
With an allowance recorded |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Private corporations |  |  | 3,125 |  |  | 3,125 |  |  | 954 |  |  | 9 |  |  | - |
Total |  |  | 3,125 |  |  | 3,125 |  |  | 954 |  |  | 9 |  |  | - |
As of December 31, 2014 and, 2013, there were no impaired loans without related allowance.
As of December 31, 2014, the Bank have troubled debt restructuring loans. An analysis of the trouble debt restructuring loans is as follows:
|  |  |  | Balance recorded |  | Balance recorded |
|  | Number of |  | before |  | after |
|  | contracts |  | restructuring |  | restructuring |
Corporations: |  |  |  |  |  |  |  |  |  |
Private |  |  | - |  |  | - |  |  | - |
State-owned |  |  | - |  |  | - |  |  | - |
Banking and financial institutions: |  |  |  |  |  |  |  |  |  |
Private |  |  | - |  |  | - |  |  | - |
State-owned |  |  | - |  |  | - |  |  | - |
Middle-market companies: |  |  |  |  |  |  |  |  |  |
Privates |  |  | 2 |  |  | 890 |  |  | 919 |
Sovereign |  |  | - |  |  | - |  |  | - |
Total |  |  | 2 |  |  | 890 |  |  | 919 |
As of December 31, 2014, the quantitative information regarding past-due trouble debt restructuring loans is the following:
|  | Number of |  | Balance |
|  | contracts |  | recorded |
Corporations: |  |  |  |  |  |  |
Privates |  |  | - |  |  | - |
State-owned |  |  | - |  |  | - |
Banking and finacial institutions: |  |  |  |  |  |  |
Privates |  |  | - |  |  | - |
State-owned |  |  | - |  |  | - |
Middle-market companies: |  |  |  |  |  |  |
Privates |  |  | 2 |  |  | 909 |
Sovereign |  |  | - |  |  | - |
Total |  |  | 2 |  |  | 909 |
As of December 31, 2013, the Bank did not have any troubled debt restructurings.
The following table presents an aging analysis of the loan portfolio:
|  | December 31, 2014 |
|  | 91-120 |  | 121-150 |  | 151-180 |  | Greater than |  | Total |  |  |  |  |
|  | days |  | days |  | days |  | 180 days |  | Past due |  | Delinquent |  | Current |  | Total loans |
Corporations |  |  | - |  |  | - |  |  | - |  |  | 3,125 |  |  | 3,125 |  |  | 4,801 |  |  | 3,824,034 |  |  | 3,831,960 |
Banking and financial institutions |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 2,370,936 |  |  | 2,370,936 |
Middle-market companies |  |  | 909 |  |  | - |  |  | - |  |  | - |  |  | 909 |  |  | - |  |  | 482,439 |  |  | 483,348 |
Sovereign |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |
Total |  |  | 909 |  |  | - |  |  | - |  |  | 3,125 |  |  | 4,034 |  |  | 4,801 |  |  | 6,677,409 |  |  | 6,686,244 |
|  | December 31, 2013 |
|  | 91-120 |  | 121-150 |  | 151-180 |  | Greater than |  | Total |  |  |  |  |
|  | days |  | days |  | days |  | 180 days |  | Past due |  | Delinquent |  | Current |  | Total loans |
Corporations |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 3,125 |  |  | 3,310,931 |  |  | 3,314,056 |
Banking and financial institutions |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 2,259,991 |  |  | 2,259,991 |
Middle-market companies |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 574,107 |  |  | 574,107 |
Sovereign |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 144 |  |  | 144 |
Total |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 3,125 |  |  | 6,145,173 |  |  | 6,148,298 |
As of December 31, 2014 and 2013, the Bank has credit transactions in the normal course of business with 15% and 20%, respectively, of its Class “A” and “B” stockholders. All transactions are made based on arm’s-length terms and subject to prevailing commercial criteria and market rates and are subject to all of the Bank’s Corporate Governance and control procedures. As of December 31, 2014 and 2013, approximately 8% and 12%, respectively, of the outstanding loan portfolio is placed with the Bank’s Class “A” and “B” stockholders and their related parties. As of December 31, 2014, the Bank was not directly or indirectly owned or controlled by another corporation or any foreign government, and no Class “A” or “B” shareholder was the registered owner of more than 3.5% of the total outstanding shares of the voting capital stock of the Bank. During 2014, 2013 and 2012, the Bank sold loans on the secondary market with a book value of $515.6 million and $89.5 million and $146.2 millon, respectively, with a net gain of $2.2 million and $0.4 million and $1.1 million, in 2014, 2013 and 2012, respectively.

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- Definition The entire disclosure for financing receivables. Examples of financing receivables include, but are not limited to, loans, trade accounts receivables, notes receivable, credit cards, and receivables relating to a lessor's right(s) to payment(s) from a lease other than an operating lease that is recognized as assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 55 -Paragraph 14 -URI http://asc.fasb.org/extlink&oid=32702940&loc=SL6953791-111525 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=35738203&loc=d3e4975-111524 + Details
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