Loans commitments and financial guarantees contracts (Tables)

12 Months Ended

Dec. 31, 2017

The Bank’s outstanding loans commitments and financial guarantees contracts are as follows:

	December 31, 2017		December 31, 2016
Confirmed letters of credit		273,449		216,608
Stand-by letters of credit and guaranteed – Commercial risk		168,976		176,177
Credit commitments		45,578		10,250
Total		488,003		403,035

The remaining maturity profile of the Bank’s outstanding loans commitments and financial guarantees contracts is as follows:

Loans commitments and financial guarantees contracts classified by issuer’s credit quality indicators are as follows:

⁽¹⁾ Current ratings as of December 31, 2017 and 2016, respectively.

The breakdown of the Bank’s loans commitments and financial guarantees contracts exposure by country risk is as follows:

The allowances for credit losses related to loans commitments and financial guarantees contracts are as follows:

	Stage 1 ⁽¹⁾		Stage 2 ⁽²⁾		Stage 3 ⁽³⁾		Total
Allowance for expected credit losses as of December 31, 2016		1,143		4,633		-		5,776
Transfer to lifetime expected credit losses		(1)		1		-		-
Transfer to credit-impaired instruments		-		-		-		-
Transfer to 12-month expected credit losses		-		-		-		-
Net effect of changes in reserve for expected credit loss		(54)		853		-		799
Instruments that have been derecognized during the year		(971)		-		-		(971)
Changes due to instruments recognized as of December 31, 2016:		(1,026)		854		-		(172)
New instruments originated or purchased		1,241		-		-		1,241
Allowance for expected credit losses as of December 31, 2017		1,358		5,487		-		6,845

	Stage 1 ⁽¹⁾		Stage 2 ⁽²⁾		Stage 3 ⁽³⁾		Total
Allowance for expected credit losses as of December 31, 2015		2,914		2,510		-		5,424
Transfer to lifetime expected credit losses		(646)		693		-		47
Transfer to credit-impaired instruments		-		-		-		-
Transfer to 12-month expected credit losses		-		-		-		-
Net effect of changes in reserve for expected credit loss		(748)		1,756		-		1,008
Instruments that have been derecognized during the year		(2,631)		(326)		-		(2,957)
Changes due to instruments recognized as of December 31, 2015:		(4,025)		2,123		-		(1,902)
New instruments originated or purchased		2,254		-		-		2,254
Allowance for expected credit losses as of December 31, 2016		1,143		4,633		-		5,776

⁽¹⁾

12-month expected credit losses.

⁽²⁾

Lifetime expected credit losses.

⁽³⁾

Credit-impaired financial assets (lifetime expected credit losses).