<SEC-DOCUMENT>0001144204-17-009866.txt : 20170217
<SEC-HEADER>0001144204-17-009866.hdr.sgml : 20170217
<ACCEPTANCE-DATETIME>20170217171045
ACCESSION NUMBER:		0001144204-17-009866
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20170217
FILED AS OF DATE:		20170217
DATE AS OF CHANGE:		20170217

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:		17622288

	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>v459941_6k.htm
<DESCRIPTION>FORM 6-K
<TEXT>
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     <TITLE></TITLE>
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<P STYLE="margin: 0"></P>

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

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

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

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

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

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">Commission File Number 1-11414</P>

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

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

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

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

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

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

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

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Indicate by check mark if the registrant is
submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Indicate by check mark if the registrant is
submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):</P>

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

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

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


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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 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,
thereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&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="width: 50%; text-align: justify"><FONT STYLE="font-size: 10pt">Date:&nbsp;&nbsp;February 17, 2017</FONT></TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left">FOREIGN TRADE BANK OF LATIN AMERICA, INC.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD><I>(Registrant)</I></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>&nbsp;</I></B></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="width: 50%"><U STYLE="text-decoration: none">&nbsp;</U></TD>
    <TD STYLE="width: 50%; text-decoration: none"><FONT STYLE="font-size: 10pt"><U STYLE="text-decoration: none">By: /s/ Pierre Dulin</U></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: Pierre Dulin</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title: General Manager</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


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

<P STYLE="margin-top: 0; text-align: left; margin-bottom: 0">&nbsp;<FONT STYLE="color: Black"><B>&nbsp;</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="color: Black"><B>BLADEX&rsquo;S FULL-YEAR 2016 BUSINESS
PROFIT<SUP> (1)</SUP> REACHED $91.5 MILLION, WITH $13.3 MILLION PROFIT RECORDED IN THE FOURTH QUARTER 2016 </B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="color: Black"><B>PANAMA CITY,
REPUBLIC OF PANAMA, February 17, 2017</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="color: Black"><B>Banco Latinoamericano
de Comercio Exterior, S.A.</B> (NYSE: BLX, &ldquo;Bladex&rdquo;, or &ldquo;the Bank&rdquo;), a Panama-based multinational bank
originally established by the central banks of 23 Latin-American and Caribbean countries to promote foreign trade and economic
integration in the Region, today announced its results for the fourth quarter (&ldquo;4Q16&rdquo;) and full-year (&ldquo;FY16&rdquo;)
ended December 31, 2016 (&ldquo;Y/E16&rdquo;).</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="color: Black">The consolidated
financial information in this document has been prepared in accordance with International Financial Reporting Standards (&ldquo;IFRS&rdquo;)
as issued by the International Accounting Standards Board (&ldquo;IASB&rdquo;).</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="color: Black"><B>FINANCIAL SNAPSHOT</B></FONT></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 70%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt; color: Black">(US$ million, except percentages
    and per share amounts)</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; color: Black"><B>2016</B></FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; color: Black"><B>2015</B></FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt; color: Black">4Q16</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; color: Black"><B>3Q16</B></FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; color: Black"><B>4Q15</B></FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Key Income Statement Highlights</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 50%; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Total income</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">$</FONT></TD><TD STYLE="width: 7%; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">168.0</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">$</FONT></TD><TD STYLE="width: 7%; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">173.9</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">$</FONT></TD><TD STYLE="width: 7%; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">43.2</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">$</FONT></TD><TD STYLE="width: 7%; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">43.4</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">$</FONT></TD><TD STYLE="width: 7%; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">43.6</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Impairment loss from ECL on loans at amortized cost,
    loan commitments and financial guarantees contracts</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">35.1</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">12.8</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">18.0</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">4.4</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">2.5</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Impairment loss (gain) from ECL on investment securities</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">0.0</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">5.3</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">(<FONT STYLE="color: Black">0.3</FONT></FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">(<FONT STYLE="color: Black">0.2</FONT></FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">4.7</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; color: Black">Operating
    expenses<SUP> (2)</SUP></FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">45.8</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">51.8</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">12.1</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">11.2</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">13.1</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; color: Black">Business
    Profit<SUP> (1)</SUP></FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">91.5</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">99.0</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">13.3</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">28.0</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">25.3</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; color: Black">Non-Core
    Items <SUP>(3)</SUP></FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">(<FONT STYLE="color: Black">4.4</FONT></FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">5.0</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">0.0</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">0.0</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">(<FONT STYLE="color: Black">2.0</FONT></FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Profit for the period</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">87.0</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">104.0</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">13.3</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">28.0</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">23.2</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Profitability Ratios</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; color: Black">Earnings per Share (&quot;EPS&quot;)
    <SUP>(4)</SUP></FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">2.23</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">2.67</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">0.34</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">0.72</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">0.60</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; color: Black">Business
    EPS <SUP>(4)</SUP></FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">2.34</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">2.54</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">0.34</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">0.72</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">0.65</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; color: Black">Return
    on Average Equity (&ldquo;ROAE&rdquo;)<SUP> (5)</SUP></FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">8.8</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">11.0</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">5.3</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">11.2</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">9.5</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; color: Black">Business
    ROAE<SUP> (6)</SUP></FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">9.2</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">10.4</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">5.3</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">11.2</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">10.4</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Return on Average Assets (&ldquo;ROAA&rdquo;)</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1.16</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1.32</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">0.73</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1.50</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1.17</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Business ROAA</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1.22</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1.25</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">0.73</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1.50</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1.27</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; color: Black">Net Interest
    Margin (&quot;NIM&quot;)<SUP> (7)</SUP></FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">2.08</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1.84</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">2.05</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">2.13</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1.90</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; color: Black">Net Interest
    Spread (&quot;NIS&quot;)<SUP> (8)</SUP></FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1.84</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1.68</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1.79</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1.89</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1.72</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; color: Black">Efficiency
    Ratio<SUP> (9)</SUP></FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">27</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">30</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">28</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">26</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">30</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; color: Black">Business
    Efficiency Ratio <SUP>(9)</SUP></FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">26</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">31</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">28</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">26</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">29</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Assets, Capital, Liquidity &amp;
    Credit Quality</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Commercial Portfolio</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">6,444</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">7,155</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">6,444</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">6,688</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">7,155</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Treasury Portfolio</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">108</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">250</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">108</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">145</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">250</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Total Assets</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">7,181</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">8,286</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">7,181</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">7,287</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">8,286</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Market capitalization</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1,153</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1,010</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1,153</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1,104</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1,010</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; color: Black">Tier 1
    Basel III Capital Ratio <SUP>(10)</SUP></FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">17.9</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">16.1</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">17.9</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">15.9</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">16.1</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; color: Black">Leverage
    (times) <SUP>(11)</SUP></FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">7.1</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">8.5</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">7.1</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">7.2</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">8.5</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; color: Black">Liquid
    Assets / Total Assets <SUP>(12)</SUP></FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">14.0</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">15.3</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">14.0</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">9.9</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">15.3</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">NPL to gross loan portfolio</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1.09</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">0.78</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1.09</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1.31</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">0.78</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Total allowance for ECL on loans, loan commitments
    and financial guarantee contracts to Commercial Portfolio</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1.73</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1.33</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1.73</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1.67</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1.33</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Total allowance for ECL on loans, loan commitments
    and financial guarantee contracts&nbsp;&nbsp;to NPL (times)</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1.7</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1.8</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1.7</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1.3</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1.8</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
</TABLE>

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


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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="color: Black"><B>4Q16 and FY16 Highlights</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; color: #1F497D"><FONT STYLE="color: Black"><B>Reported results:</B></FONT></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 9.35pt"><FONT STYLE="font-family: Symbol; color: Black">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">Bladex&rsquo;s
                                         FY16 Business Profit reached $91.5 million (-8% YoY), as the effects of a YoY increase
                                         in Net Interest Income and a YoY reduction in operating expenses were offset by provisions
                                         for expected credit losses (&ldquo;ECL&rdquo;) on certain exposures. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 9.35pt"><FONT STYLE="font-family: Symbol; color: Black">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">The
                                         Bank&rsquo;s Profit for the year 2016 reached $87.0 million, or $2.23 EPS, compared to
                                         $104.0 million, or $2.67 EPS, in 2015, as a result of the discontinued non-core participation
                                         in the investment funds which were liquidated in April, 2016. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 9.35pt"><FONT STYLE="font-family: Symbol; color: Black">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">Bladex&rsquo;s
                                         4Q16 Profit totaled $13.3 million (-52% QoQ, -43% YoY), on $17.6 million in provisions
                                         recorded for ECL on loans, while Total Income and operating expenses remained relatively
                                         stable. </FONT></TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 9.35pt"><FONT STYLE="font-family: Symbol; color: Black">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">FY16
                                         Net Interest Income (&ldquo;NII&rdquo;) amounted to $155.2 million (+7% YoY) on increased
                                         financial margins (NIM +24 bps YoY), mainly from growth in average lending rates (+53
                                         bps YoY), which exceeded the impact of increased average rates on interest bearing liabilities
                                         (+31 bps YoY). 4Q16 NII &amp; NIM reached $37.7 million (unchanged YoY, -5% QoQ) and
                                         2.05% (+15 bps YoY, -8 bps QoQ), respectively, mainly driven by lower average portfolio
                                         balances and increased origination in shorter tenor trade exposures, respectively. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 9.35pt"><FONT STYLE="font-family: Symbol; color: Black">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">FY16
                                         and 4Q16 Fees and Other Income totaled $16.5 million (-26% YoY), and $4.8 million (+32%
                                         QoQ, -38% YoY), respectively, mainly driven by YoY lower business activity in letters
                                         of credit, with improvement in 4Q16. Commissions from the syndications business were
                                         slightly lower YoY, with a greater number of completed transactions despite lower activity
                                         in the relevant Latin American debt capital markets.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; color: #1F497D"><FONT STYLE="color: Black"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; color: #1F497D"><FONT STYLE="color: Black"><B>Key performance metrics:</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 9pt; text-align: justify"><FONT STYLE="color: Black"><B>&nbsp;</B></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 9.35pt"><FONT STYLE="font-family: Symbol; color: Black">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">Overall
                                         Return on Average Equity (&ldquo;ROAE&rdquo;) reached 8.8% in 2016 vs. 11.0% in 2015,
                                         on largely stable total income and higher provisions for ECL and adverse non-core results,
                                         with the exclusion of non-core effects resulting in a more resilient Business ROAE performance
                                         of 9.2% in 2016 (-1.2 pts. YoY).</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 9.35pt"><FONT STYLE="font-family: Symbol; color: Black">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">The
                                         FY16 Efficiency Ratio improved to 27% (-3 pts. YoY), as operating expenses decreased
                                         12% while total income decreased 3%. The 4Q16 Efficiency Ratio stood at 28%.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 9.35pt"><FONT STYLE="font-family: Symbol; color: Black">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">The
                                         Tier 1 Basel III Capital Ratio strengthened to 17.9% at Y/E16, compared to 15.9% a quarter
                                         ago, and 16.1% a year ago, on increased capitalization and reduced risk-weighted assets
                                         reflecting lower portfolio balances.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: #1F497D"><FONT STYLE="color: Black"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: #1F497D"><FONT STYLE="color: Black"><B>Commercial
Portfolio &amp; Quality:</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 9pt; text-align: justify"><FONT STYLE="color: Black"><B>&nbsp;</B></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 9.35pt"><FONT STYLE="font-family: Symbol; color: Black">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">2016
                                         average and EoP Commercial Portfolio balances reached $6.8 billion (-5% YoY), and $6.4
                                         billion (-4% QoQ, -10% YoY), respectively, as the result of the Bank&rsquo;s efforts
                                         to reduce certain country, industry and client risk concentrations, and continuing its
                                         focus on expanding its short-term trade finance book with more favorable risk-adjusted
                                         returns.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 9pt"><FONT STYLE="font-family: Symbol; color: Black">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">Non-performing
                                         loan (&ldquo;NPL&rdquo;) exposures amounted to $65.4 million, or 1.09% of gross loan
                                         portfolio at Y/E16, compared to $83.8 million, or 1.31%, a quarter ago, and $52.3 million,
                                         or 0.78%, at Y/E15. The coverage ratio of the total allowance for ECL to total Commercial
                                         Portfolio ending balances stood at 1.73% (+6 bps QoQ, +40 bps YoY), representing an amount
                                         equivalent to 1.7 times the NPL balances at Y/E16.</FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="color: Black"><B>CEO&rsquo;s Comments</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="color: Black">Mr. Rubens V. Amaral
Jr., Bladex&rsquo;s Chief Executive Officer, stated the following regarding the Bank&rsquo;s 4Q16 and FY16 results: <I>&ldquo;2016
turned out to be a year of unexpected events impacting both the global economy in general and the Latin-American Region in particular.
Our expectations of diverging growth paths in the Region certainly materialized with continued recessions in Brazil, Argentina
and Ecuador limiting growth in South America, while growth north of the Panama Canal remained generally positive, albeit more
subdued compared to prior years. Adding to these external factors, internally we continued to work towards greater diversification
and lower concentration risk in our portfolio, given increased credit risk in the Region, by reducing exposures in countries like
Brazil due to the prolonged recession, and sectors like upstream Oil &amp; Gas to multi-year lows, while focusing on expanding
our client base. On the back of profitability and risk/return analyses, we continued on our traditional short term trade finance,
reinforcing Bladex&acute;s core competencies.</I></FONT></P>

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="color: Black"><I>All these external
and internal factors translated to a more diversified book of business, but led to portfolio growth below our expectations. Nevertheless,
we did manage to achieve levels we had not been able to attain in previous economic down-cycles of this magnitude, i.e.: earnings
capacity and financial strength allowed us to be very selective with new business origination, leading to mitigated impact on
both portfolio balances and profitability. Net revenues rose YoY despite lower average portfolio balances as the result of very
focused asset &amp; liability management aimed at on the liability side managing efficiently interest rate gap and increasing
deposits, and on the asset side increasing spreads even as the overall tenor structure of the lending book moved towards the short
end. Our syndication and loan structuring franchise continued to strengthen in a generally dismal year for debt capital markets
in the Region. Expenses, excluding variable compensation, continued their sequential decline, reflecting continued efforts to
improve and streamline internal processes, all the while investing in technology to enable further efficiencies down the road.
Liquidity and Capitalization levels strengthened as well, as did the tenor structure and stability of our funding, with ever more
diversified sources of funds.</I></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="color: Black"><I>One area where
we have encountered more than expected headwinds, was the non-performing loan portfolio. Historically, and given the short-term,
trade focused nature of our business, the Bank has not had significant, nor persistent levels of exposures in this category. In
line with that track record, the number of problem exposures that we had identified early on over the 2015/2016 economic downturn
in the Region continues to stay relatively confined to specific countries, industries and clients. However, the level of complexity
of the required restructuring efforts, and the resulting deterioration of these exposures in terms of time to resolution, along
with the associated loss expectations were indeed greater than expected, leading to reserve strengthening, and consequently, provision
impact in the P&amp;L. The Bank is aggressively managing each of these exposures with the appropriate urgency and diligence in
order to achieve the best possible outcome. To this effect, the core responsibility to effectively manage credit risk is shared
across the Bank by way of performance based goals and objectives, and is directly reflected in the way our variable performance
based compensation framework works. </I></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="color: Black"><I>We enter 2017
cautiously optimistic and will continue to build on our fundamental strengths to achieve higher levels of profitability and performance.
On the external front the Latin America Region is poised to improve its economic conditions with positive growth prospects across
the different countries, but we remain alert for the different challenges arising from a potentially more protectionist environment
in the developed world from the BREXIT in Europe and the new government in the United States. On the internal front we are confident
that we are equipped to post continued solid results given the resilience of our business model which has been proven under different
stress scenarios. We continue with a positive view towards portfolio growth in 2017, aiming to reverse a trend of declining balances
over the last couple of years. Our target is to achieve portfolio growth of around 10% for the year, which should enable the Bank
to deliver good results to our shareholders and investors, while developing an ever more relevant and solutions oriented business
proposition for our clients.&rdquo; </I>Mr. Amaral concluded.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify; text-indent: -0.25in"><FONT STYLE="color: Black"><B>RECENT
EVENTS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify; text-indent: -0.25in"><FONT STYLE="color: Black"><B>&nbsp;</B></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings; color: Black">&sect;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black"><B>Quarterly
                                         dividend payment: </B>At a meeting held January 17, 2017, the Bank&rsquo;s Board of Directors
                                         approved a quarterly common dividend of $0.385 per share corresponding to the fourth
                                         quarter 2016. The dividend was paid on February 16, 2017, to stockholders registered
                                         as of February 1, 2017.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings; color: Black">&sect;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black"><B>Ratings
                                         released: </B>In its semi-annual update published on January 16, 2017, Moody&rsquo;s
                                         Investors Service affirmed its credit opinion of &lsquo;Baa2/P-2&rsquo; with a &ldquo;Stable&rdquo;
                                         Outlook. On October 28, 2016, Standard &amp; Poor&rsquo;s revised Panama&rsquo;s Banking
                                         Industry Risk Assessment (&ldquo;BICRA&rdquo;) outlook to negative from stable, citing
                                         vulnerabilities in the country&rsquo;s regulatory framework, and prompting a methodology-driven
                                         change in the Bank&acute;s outlook to negative from stable. </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 4.5pt; text-align: justify"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 4.5pt; text-align: justify"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: left">&nbsp;</P>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; color: Black">-</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">Numbers
                                         and percentages set forth in this earnings release have been rounded and accordingly
                                         may not total exactly.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; color: Black">-</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">QoQ
                                         and YoY refer to quarter-on-quarter and year-on-year variations, respectively. <B> </B></FONT></TD></TR></TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="color: Black">(1)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black">Business Profit refers to
Profit for the period, deducting non-core items.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 13.5pt; text-align: justify"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="color: Black">(2)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black">Total
                                         operating expenses includes the following expenses line items of the consolidated statements
                                         of profit or loss: salaries and other employee expenses, depreciation of equipment and
                                         leasehold improvements, amortization of intangible assets, and other expenses.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 13.5pt"><FONT STYLE="color: Black">(3)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black">Non-Core
                                         Items include the net results from the participations in the investment funds recorded
                                         in the &ldquo;gain (loss) per financial instrument at FVTPL &ndash; investment funds&rdquo;
                                         line item, other income and other expenses related to investment funds.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 13.5pt; text-align: justify"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="color: Black">(4)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black">Earnings
                                         per Share (&ldquo;EPS&rdquo;) and Business EPS calculations are based on the average
                                         number of shares outstanding during each period.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 13.5pt; text-align: justify"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="color: Black">(5)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black">ROAE
                                         refers to return on average stockholders&rsquo; equity which is calculated on the basis
                                         of unaudited daily average balances.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 13.5pt"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="color: Black">(6)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black">Business
                                         ROAE refers to annualized Business Profit divided by average stockholders&rsquo; equity.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 13.5pt; text-align: justify"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="color: Black">(7)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black">NIM refers
                                         to net interest margin which constitutes to net interest income divided by the average
                                         balance of interest-earning assets.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 13.5pt; text-align: justify"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="color: Black">(8)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black">NIS refers
                                         to net interest spread which constitutes the average yield earned on interest-earning
                                         assets, less the average yield paid on interest-bearing liabilities.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 13.5pt; text-align: justify"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="color: Black">(9)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black">Efficiency
                                         Ratio refers to consolidated operating expenses as a percentage of total income. Business
                                         Efficiency Ratio refers to business operating expenses as a percentage of total income
                                         excluding non-core items.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 13.5pt; text-align: justify"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="color: Black">(10)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black">Tier
                                         1 Capital is calculated according to Basel III capital adequacy guidelines, and is equivalent
                                         to stockholders&rsquo; equity excluding certain effects such as the OCI effect of the
                                         financial instruments at FVOCI. Tier 1 Capital ratio is calculated as a percentage of
                                         risk-weighted assets. Risk-weighted assets are estimated based on Basel III capital adequacy
                                         guidelines.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 13.5pt"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="color: Black">(11)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black">Leverage
                                         corresponds to assets divided by stockholders&rsquo; equity.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 13.5pt; text-align: justify"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="color: Black">(12)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black">Liquid assets refer to total
cash and cash equivalents, consisting of cash and due from banks, and interest-bearing deposits in banks, excluding pledged deposits
and margin calls. Liquidity ratio refers to liquid assets as a percentage of total assets.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 13.5pt; text-align: justify"><FONT STYLE="color: Black">&nbsp;&nbsp;</FONT></P>

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

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

<DIV STYLE="padding: 2pt; border: Black 1pt solid; width: 98%">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; text-align: justify"><FONT STYLE="color: Black"><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 profit
and return on equity in future periods, including income derived from the Treasury Business Segment, 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 expected
credit losses; the need for additional allowance for expected 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></FONT></P>

</DIV>

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="color: Black">Bladex, a multinational
bank originally established by the central banks of Latin-American and Caribbean countries, initiated operations in 1979 to promote
foreign trade finance and economic integration in the Region. The Bank, headquartered in Panama, operates throughout the Region
with offices in Argentina, Brazil, Colombia, Mexico, Peru, and the United States of America, to support the expansion and servicing
of its client base, which includes financial institutions and corporations. Through December 31, 2016, Bladex had disbursed accumulated
credits of approximately $243 billion.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="color: Black">Bladex is listed
on the NYSE in the United States of America (NYSE: BLX), since 1992, and its shareholders include central banks, state-owned banks
and entities representing 23 Latin American countries, as well as commercial banks and financial institutions, institutional and
retail investors through its public listing.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="color: Black">There will be a
conference call to discuss the Bank&rsquo;s full-year and quarterly results on Friday, February 17, 2017 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://www.bladex.com. The webcast
presentation is available for viewing and downloads on <U>http://www.bladex.com</U>.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="color: Black">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;(877) 919-4059&nbsp;or&nbsp;(334) 323-0140,&nbsp;and follow the instructions.&nbsp; The replay passcode
is: 50611476.</FONT></P>

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="color: Black">Mrs. Irma Garrido
Arango</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="color: Black">SVP, Corporate
Development and Investor Relations</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="color: Black">Tel: +507 210-8559</FONT></P>

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

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

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

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

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

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

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

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

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
