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Derivative financial instruments for hedging purposes (Tables)

12 Months Ended

Dec. 31, 2014

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments Included in Trading Activities [Table Text Block]

As of December 31, 2014 and 2013, quantitative information on derivative financial instruments held for hedging purposes is as follows:

		2014									2013
		Nominal			Fair value(1)						Nominal			Fair value(1)
		Amount			Asset			Liability			Amount			Asset			Liability
Fair value hedges:
Interest rate swaps			167,865			17			1,285			494,558			4,625			1,403
Cross-currency interest rate swaps			282,490			1,062			31,556			269,488			2,783			6,834
Cash flow hedges:
Interest rate swaps			891,500			2,691			1,805			453,000			393			243
Cross-currency interest rate swaps			56,000			-			5,547			126,308			6,392			-
Forward foreign exchange			126,058			8,554			-			88,130			684			92
Net investment hedges:
Forward foreign exchange			5,146			-			94			5,810			340			-
Total			1,529,059			12,324			40,287			1,437,294			15,217			8,572
Net gain on the ineffective portion of hedging activities (2)						106									353

⁽¹⁾ The fair value of assets and liabilities is reported within the derivative financial instruments used for hedging - receivable and payable lines in the consolidated balance sheets, respectively.

⁽²⁾ Gains and losses resulting from ineffectiveness and credit risk in hedging activities are reported within the derivative financial instruments and hedging line in the consolidated statements of income as derivatives financial instruments and hedging.

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]

The gains and losses resulting from activities of derivative financial instruments and hedging recognized in the consolidated statements of income are presented below:

2014
							Gain (loss)
							reclassified from
							accumulated			Gain (loss)
		Gain (loss)					OCI to the consolidated			recognized on
		recognized in OCI					statements of income			derivatives
		(effective portion)			Classification of gain (loss)		(effective portion)			(ineffective portion)
Derivatives – cash flow hedge
Interest rate swaps			(1,947)
Cross-currency interest rate swaps			(11,904)		Gain (loss) on foreign currency exchange			-			-
					Interest income – loans			(4)			-
Forward foreign exchange			8,633		Interest income – securities available-for-sale			(238)			-
					Interest income – loans			(2,011)			-
					Interest expense – borrowings and debt			-			-
					Gain (loss) on foreign currency exchange			3,011			-
Total			(5,218)					768			-
Derivatives – net investment hedge
Forward foreign exchange			38		Gain (loss) on foreign currency exchange			-			-
Total			38					-			-

2013
							Gain (loss)
							reclassified from
							accumulated			Gain (loss)
		Gain (loss)					OCI to the consolidated			recognized on
		recognized in OCI					statements of income			derivatives
		(effective portion)			Classification of gain (loss)		(effective portion)			(ineffective portion)
Derivatives – cash flow hedge
Interest rate swaps			226
Cross-currency interest rate swaps			(734)		Gain (loss) on foreign currency exchange			-			-
					Interest income – loans			(11)			-
Forward foreign exchange			1,544		Interest income – securities available-for-sale			(1,461)			-
					Interest expense – borrowings and debt			31			-
					Gain (loss) on foreign currency exchange			1,562			-
Total			1,036					121			-
Derivatives – net investment hedge
Forward foreign exchange			464		Gain (loss) on foreign currency exchange			-			-
Total			464					-			-

2012
							Gain (loss)
							reclassified from
							accumulated			Gain (loss)
		Gain (loss)					OCI to the consolidated			recognized on
		recognized in OCI					statements of income			derivatives
		(effective portion)			Classification of gain (loss)		(effective portion)			(ineffective portion)
Derivatives – cash flow hedge
Interest rate swaps			217
Cross-currency interest rate swaps			3,740		Gain (loss) on foreign currency exchange			2,481			-
					Interest income – loans			(564)			-
Forward foreign exchange			1,742		Interest expense – borrowings and debt			(169)			-
					Gain (loss) on foreign currency exchange			3,679			-
Total			5,699					5,427			-
Derivatives – net investment hedge
Forward foreign exchange			109		Gain (loss) on foreign currency exchange			-			-
Total			109					-			-

Disclosure Related To Gain (Loss) On Derivative Instrument and Hedge Item For Fair Value Hedge [Table Text Block]

The Bank recognized in earnings the gain (loss) on derivative financial instruments and the gain (loss) of the hedged asset or liability related to qualifying fair value hedges, as follows:

2014
				Gain			Gain
		Classification in consolidated		(loss) on			(loss) on			Net gain
		statement of income		derivatives			hedge item			(loss)
Derivatives - fair value hedge
Interest rate swaps		Interest income – securities available-for-sale			(1,800)			2,345			545
		Interest income – loans			(361)			3,112			2,751
		Interest expense – borrowings and debt			3,737			(16,204)			(12,467)
		Derivative financial instruments and hedging			(994)			1,021			27
Cross-currency interest rate swaps		Interest income – loans			(853)			1,695			842
		Interest expense – borrowings and debt			4,538			(10,031)			(5,493)
		Derivative financial instruments and hedging			(24,335)			24,434			99
		Gain (loss) on foreign currency exchange			-			-			-
					(20,068)			6,372			(13,696)

2013
				Gain			Gain
		Classification in consolidated		(loss) on			(loss) on			Net gain
		statement of income		derivatives			hedge item			(loss)
Derivatives - fair value hedge
Interest rate swaps		Interest income – securities available-for-sale			(3,088)			4,649			1,561
		Interest income – loans			(39)			350			311
		Interest expense – borrowings and debt			3,192			(16,204)			(13,012)
		Derivative financial instruments and hedging			(3,622)			3,942			320
Cross-currency interest rate swaps		Interest income – loans			(795)			1,548			753
		Interest expense – borrowings and debt			6,905			(12,452)			(5,547)
		Derivative financial instruments and hedging			(6,117)			6,150			33
		Gain (loss) on foreign currency exchange			(430)			458			28
					(3,994)			(11,559)			(15,553)

2012
				Gain			Gain
		Classification in consolidated		(loss) on			(loss) on			Net gain
		statement of income		derivatives			hedge item			(loss)
Derivatives - fair value hedge
Interest rate swaps		Interest income – securities available-for-sale			(2,982)			4,776			1,794
		Interest expense – borrowings and debt			1,564			(12,022)			(10,458)
		Derivative financial instruments and hedging			59			-			59
Cross-currency interest rate swaps		Interest income – loans			(239)			522			283
		Interest expense – borrowings and debt			8,024			(11,187)			(3,163)
		Derivative financial instruments and hedging			12			-			12
		Gain (loss) on foreign currency exchange			5,873			(6,469)			(596)
					12,311			(24,380)			(12,069)

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Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

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Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

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Tabular disclosure of derivative instruments (including nonderivative instruments that are designated and qualify as hedging instruments) of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position.

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