<SEC-DOCUMENT>0001104659-20-047018.txt : 20200415
<SEC-HEADER>0001104659-20-047018.hdr.sgml : 20200415
<ACCEPTANCE-DATETIME>20200415172807
ACCESSION NUMBER:		0001104659-20-047018
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20200415
FILED AS OF DATE:		20200415
DATE AS OF CHANGE:		20200415

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:		20794495

	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>tm2016012-2_6k.htm
<DESCRIPTION>FORM 6-K
<TEXT>
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<P STYLE="margin: 0"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 12pt; margin-bottom: 3pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid"><FONT STYLE="color: Black">&nbsp;</FONT></DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="margin: 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="color: Black"><B>UNITED STATES</B></FONT></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="color: Black"><B>SECURITIES
AND EXCHANGE COMMISSION</B></FONT></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="color: Black"><B>Washington,
D.C. 20549</B></FONT></P>

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

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="color: Black"><B>FORM 6-K</B></FONT></P>

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

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

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

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

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

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

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

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

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

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="color: Black"><B>BANCO LATINOAMERICANO
DE COMERCIO EXTERIOR, S.A.</B></FONT></P>

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

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

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="color: Black"><B>FOREIGN TRADE
BANK OF LATIN AMERICA, INC.</B></FONT></P>

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: Black">Date: April
15, 2020</FONT></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 50%"><FONT STYLE="color: Black">FOREIGN TRADE BANK OF LATIN AMERICA, INC.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD><FONT STYLE="color: Black"><I>(Registrant)</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt; color: Black">By: <U>/s/ Ana Graciela de M&eacute;ndez</U></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt; color: Black">Name: Ana Graciela de M&eacute;ndez</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt; color: Black">Title:&nbsp;&nbsp;&nbsp;CFO</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: Black">&nbsp;</FONT></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="color: Black">&nbsp;<IMG SRC="image_001.jpg" ALT=""></FONT></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #1F497D"><FONT STYLE="color: Black"><B>BLADEX
ANNOUNCES STRONG LEVELS OF CAPITALIZATION, LIQUIDITY AND ASSET QUALITY AT MARCH 31, 2020<BR>
 PROFIT FOR THE FIRST QUARTER 2020 OF
$18.3 MILLION, OR $0.46 PER SHARE&nbsp;</B></FONT></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #1F497D"><FONT STYLE="color: Black"><B>PANAMA
CITY, REPUBLIC OF PANAMA, April 15, 2020</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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 first quarter (&ldquo;1Q20&rdquo;) ended March 31, 2020.</FONT></P>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR>
    <TD><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: white"><FONT STYLE="color: Black"><B>FINANCIAL
        SNAPSHOT</B></FONT></P></TD></TR>
</TABLE>
<P STYLE="margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: #404040; border-bottom: Black 1pt solid"><FONT STYLE="color: Black">(US$ million, except
    percentages and per share amounts)</FONT></TD><TD STYLE="font-size: 10pt; color: #F2F2F2; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; color: #F2F2F2; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="color: Black">1Q20</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #F2F2F2; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; color: #404040; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="color: Black">4Q19</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #404040; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; color: #404040; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="color: Black">1Q19</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #404040; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; color: #44546A; font-weight: bold; text-align: left"><FONT STYLE="color: Black">Key Income Statement
    Highlights</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 58%; font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">Net Interest Income ("NII")</FONT></TD><TD STYLE="width: 2%; font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="width: 10%; font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">25.8</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 2%; font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="width: 10%; font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">26.9</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 2%; font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="width: 10%; font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">28.0</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">Fees and commissions, net</FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">3.1</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">5.4</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">2.4</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">Total revenues</FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">28.8</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">31.4</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">32.1</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">Reversal (impairment loss) on financial
    instruments</FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">0.1</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">1.9</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">($</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">0.9</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">Operating expenses</FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">($</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">10.5</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">($</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">11.3</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">($</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">9.9</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">Profit for the period</FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">18.3</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">22.1</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">21.2</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; color: #44546A; font-weight: bold; text-align: left"><FONT STYLE="color: Black">Profitability
    Ratios</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; color: #404040; font-weight: 400; font-style: normal; text-align: left"><FONT STYLE="color: Black">Earnings
    per Share (&quot;EPS&quot;) <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(1)</SUP></FONT></FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">0.46</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">0.56</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">0.54</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; color: #404040; font-weight: 400; font-style: normal; text-align: left"><FONT STYLE="color: Black">Return
    on Average Equity (&ldquo;ROAE&rdquo;) <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(2)</SUP></FONT></FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">7.2</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">%</FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">8.7</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">%</FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">8.6</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">Return on Average Assets (&ldquo;ROAA&rdquo;)</FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">1.12</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">%</FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">1.34</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">%</FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">1.31</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; color: #404040; font-weight: 400; font-style: normal; text-align: left"><FONT STYLE="color: Black">Net
    Interest Margin (&quot;NIM&quot;) <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(3)</SUP></FONT></FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">1.59</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">%</FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">1.65</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">%</FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">1.74</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; color: #404040; font-weight: 400; font-style: normal; text-align: left"><FONT STYLE="color: Black">Net
    Interest Spread (&quot;NIS&quot;) <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(4)</SUP></FONT></FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">1.16</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">%</FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">1.18</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">%</FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">1.16</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; color: #404040; font-weight: 400; font-style: normal; text-align: left"><FONT STYLE="color: Black">Efficiency
    Ratio <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(5)</SUP></FONT></FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">36.7</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">%</FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">35.9</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">%</FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">30.8</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; color: #44546A; font-weight: bold; text-align: left"><FONT STYLE="color: Black">Assets, Capital,
    Liquidity &amp; Credit Quality</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; color: #404040; font-weight: 400; font-style: normal; text-align: left"><FONT STYLE="color: Black">Credit
    Portfolio <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(6)</SUP></FONT></FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">5,911</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">6,582</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">6,096</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; color: #404040; font-weight: 400; font-style: normal; text-align: left"><FONT STYLE="color: Black">Commercial
    Portfolio <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(7)</SUP></FONT></FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">5,832</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">6,502</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">6,006</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">Investment Portfolio</FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">79</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">80</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">90</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">Total assets</FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">6,823</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">7,250</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">6,450</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">Total equity</FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">1,018</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">1,016</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">997</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; color: #404040; font-weight: 400; font-style: normal; text-align: left"><FONT STYLE="color: Black">Market
    capitalization <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(8)</SUP></FONT></FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">408</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">847</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">788</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; color: #404040; font-weight: 400; font-style: normal; text-align: left"><FONT STYLE="color: Black">Tier
    1 Basel III Capital Ratio <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(9)</SUP></FONT></FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">21.8</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">%</FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">19.8</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">%</FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">20.1</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">Total assets / Total equity (times)</FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">6.7</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">7.1</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">6.5</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; color: #404040; font-weight: 400; font-style: normal; text-align: left"><FONT STYLE="color: Black">Liquid
    Assets / Total Assets <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(10)</SUP></FONT></FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">19.0</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">%</FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">16.0</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">%</FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">11.9</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; color: #404040; font-weight: 400; font-style: normal; text-align: left"><FONT STYLE="color: Black">Credit-impaired
    loans to Loan Portfolio <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(11)</SUP></FONT></FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">1.16</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">%</FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">1.05</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">%</FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">1.18</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; color: #404040; font-weight: 400; font-style: normal; text-align: left"><FONT STYLE="color: Black">Total
    allowance for losses to Credit Portfolio <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(12)</SUP></FONT></FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">1.73</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">%</FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">1.56</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">%</FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">1.73</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; color: #404040; font-weight: 400; font-style: normal; text-align: left; padding-bottom: 1pt"><FONT STYLE="color: Black">Total
    allowance for losses to credit-impaired loans (times) <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(12)</SUP></FONT></FONT></TD><TD STYLE="font-size: 10pt; color: #404040; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">1.7</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">1.7</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">1.6</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
</TABLE>



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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: white"><FONT STYLE="color: Black"><B>1Q20 Highlights</B></FONT></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Symbol; font-size: 10pt; color: Black">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Bladex
                                         reported a financial position at March 31, 2020, characterized by its prudent liquidity
                                         management and ample cash position, its solid level of capitalization, and sound asset
                                         quality. In the context of the recent and rapidly evolving adverse effects from the coronavirus
                                         outbreak (&ldquo;Covid-19&rdquo;), these represent strong foundations on which to operate
                                         the business.</FONT></TD>
</TR></TABLE>
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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Symbol; font-size: 10pt; color: Black">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">As
                                         of March 31, 2020, the Bank&rsquo;s liquidity increased to $1.3 billion (+12% QoQ; +68%
                                         YoY), representing 19% of total assets and 53% of total deposits; 98% of cash and deposits
                                         on banks was placed with the Federal Reserve Bank of New York.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.25pt"><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: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Symbol; font-size: 10pt; color: Black">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">The
                                         Bank&rsquo;s Tier 1 Basel III Capital Ratio reached 21.8%, reflecting a stronger capitalization
                                         level than prior comparative periods, resulting from an increasing equity base and lower
                                         risk-weighted assets. The latter relates to the Bank&rsquo;s ability to decrease its
                                         Commercial Portfolio toward the end of the quarter, on the onset of the COVID-19 crisis,
                                         which led to prudent measures, including preserving liquidity and stricter credit underwriting.</FONT></TD>
</TR></TABLE>
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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Symbol; font-size: 10pt; color: Black">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Commercial
                                         Portfolio totaled $5.8 billion at March 31, 2020 (-10% QoQ; -3% YoY) with improved quality
                                         exposure, as 55% of the portfolio was in investment grade countries. Also, exposure to
                                         financial institutions was 55%, and 15% to quasi-sovereign corporations, with the remainder
                                         to top-tier corporations throughout the Region. 1Q20 average Commercial Portfolio balance
                                         was nearly stable at $6.2 billion (-1% QoQ; +2% YoY).</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.25pt"><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: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Symbol; font-size: 10pt; color: Black">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Bladex&rsquo;s
                                         Profit for 1Q20 totaled $18.3 million (-17% QoQ; -14% YoY) resulting in an annualized
                                         Return on Average Equity (&ldquo;ROAE&rdquo;) of 7.2% for the period. The Bank&rsquo;s
                                         profitability in 1Q20 was pressured by lower income generation from Net Interest Income
                                         (&ldquo;NII&rdquo;), and the seasonal effect on syndication fees and other income. The
                                         QoQ decrease was also impacted by reversal of impairment losses registered in the previous
                                         quarter.</FONT></TD>
</TR></TABLE>
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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Symbol; font-size: 10pt; color: Black">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Net
                                         Interest Income (&ldquo;NII&rdquo;) for 1Q20 was $25.8 million (-4% QoQ; -8% YoY), with
                                         a Net Interest Margin (&ldquo;NIM&rdquo;) of 1.59% (-6 bps QoQ; -15 bps YoY) and a Net
                                         Interest Spread (&ldquo;NIS&rdquo;) nearly stable at 1.16%. The quarterly decreases of
                                         NII and NIM were mostly associated with the net effect of lower average market rates
                                         (LIBOR-based) partially offset by higher average lending volumes.</FONT></TD>
</TR></TABLE>
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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Symbol; font-size: 10pt; color: Black">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Fees
                                         and commissions income totaled $3.1 million for 1Q20, a 31% YoY increase driven by higher
                                         fees from letters of credit (+14% YoY) and loan syndication (+$0.4 million). The 43%
                                         QoQ decrease was mostly due to the uneven effect of the syndication business, despite
                                         the good performance of the Bank&rsquo;s letters of credit business.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.25pt"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; color: #1F497D; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><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">1Q20
                                         Efficiency Ratio was 37% (+1 pt QoQ; +6 pts YoY) mainly on lower total revenues, as operating
                                         expenses remained on track, reflecting effective cost control. Operating expenses increased
                                         7% YoY mainly from higher personnel expenses, most of which was related to the CEO transition.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.25pt; color: #1F497D"><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: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Symbol; font-size: 10pt; color: Black">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Credit-impaired
                                         Loans, also referred to as Non-Performing Loans or NPLs, remained unchanged QoQ at $61.8
                                         million, now representing 1.16% of lower total Loan Portfolio balances at the end of
                                         1Q20. This compares to $64.7 million, or 1.18% of total Loan Portfolio, a year ago.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.25pt"><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: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Symbol; font-size: 10pt; color: Black">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">The
                                         Bank&rsquo;s total allowance for credit losses remained relatively stable at March 31,
                                         2020 with respect to December 31, 2019 levels, representing 1.73% of the total Credit
                                         Portfolio, compared to 1.56% a quarter ago. The increased coverage resulted from higher
                                         provision requirements on revised outlook for certain industries mostly impacted by Covid-19,
                                         partially offset by reversal in the collectively assessed provision from lower EoP portfolio
                                         balances.</FONT></TD>
</TR></TABLE>
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<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="color: Black"><IMG SRC="image_001.jpg" ALT="">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.25pt"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.25pt; color: #1F497D"></P>

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



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.25pt; color: #1F497D"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4.3pt 0pt 0; text-align: justify; color: #595959"><FONT STYLE="color: Black">Mr.
Jorge Salas, Bladex&rsquo;s Chief Executive Officer said:</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4.3pt 0pt 0; text-align: justify; color: #595959"><FONT STYLE="color: Black">&ldquo;A
couple of days after I joined the Bank on March 9, the World Health Organization declared COVID-19 as a global pandemic and we
at Bladex activated our Business Continuity Plan on March 12. Since then, our 177 employees have been working remotely and the
Bank&rsquo;s day-to-day operations in full scale have continued uninterrupted, demonstrating the Bank&rsquo;s preparation and
agility in its operating structure.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4.3pt 0pt 0; text-align: justify; color: #595959"><FONT STYLE="color: Black"></FONT>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4.3pt 0pt 0; text-align: justify; color: #595959"><FONT STYLE="color: Black">In
view of the magnitude of this crisis and the sudden and profound impact on global markets, the Bank took rapid steps to preserve
liquidity, and was able to increase its cash position because of its historically diversified and stable funding sources, which
include deposits from Latin American central banks, our Class A shareholders, as well as long-standing relationships with correspondent
banks across the globe.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4.3pt 0pt 0; text-align: justify; color: #595959"><FONT STYLE="color: Black"></FONT>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4.3pt 0pt 0; text-align: justify; color: #595959"><FONT STYLE="color: Black">On
the credit side, the Bank has maintained a high quality portfolio with a country mix that, thanks to the strategies implemented
during the last several quarters, is weighted toward lower risk countries, quasi-sovereign corporations and top-tier banks across
the Region that accounted for 55% of total exposure at quarter-end. The short-term nature of our exposure, coupled with our geographic
diversification and the top quality of our clients, gives us the ability to rearrange the portfolio, as we did throughout 2019.
With a focus on maintaining credit soundness under strict and prudent underwriting standards, we are serving our strategic customer
base focusing on client segments and industries that are better suited to face the challenges posed by the current crisis.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4.3pt 0pt 0; text-align: justify; color: #595959"><FONT STYLE="color: Black"></FONT>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4.3pt 0pt 0; text-align: justify; color: #595959"><FONT STYLE="color: Black">Our
results for the first quarter of 2020 show a well-capitalized, highly liquid bank with a strong balance sheet, industry leading
efficiency metrics, sound asset quality with a top-notch clientele, very low arrears and, perhaps most importantly, the ability
to be flexible. I am very grateful to lead an organization that can quickly adapt to such extreme circumstances, and I want to
personally thank our employees and our Board of Directors who have made this possible. Those of you who know BLADEX, know that
our strength and adaptability are built in, and have been so for a long time.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4.3pt 0pt 0; text-align: justify; color: #595959"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif; color: #595959"><FONT STYLE="color: Black">Finally, I want
to address our Board&rsquo;s decision on the dividend declaration announced today. In view of the Bank's strong balance sheet,
together with our continued capacity to generate capital through earnings, the Board decided to continue to distribute dividends.
However, now that capital preservation is an over-arching priority, the Board reduced the first interim dividend to 25 cents per
share, which is a payout of 54% on first quarter 2020 earnings. Because of the volatile nature of the Latin American Region in
which we operate, the Bank has historically maintained solid levels of capitalization which, in this context, becomes a unique
strength, enabling us to serve our clients&rsquo; needs in difficult times like these.&rdquo;</FONT></P>



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

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

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

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: white"><IMG SRC="image_003.jpg" ALT="">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4.5pt 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings; color: #1F497D">&sect;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Quarterly
dividend payment:</B> The Bank&rsquo;s Board of Directors (the &ldquo;Board&rdquo;) approved a quarterly common dividend of $0.25
per share corresponding to the first quarter 2020. The cash dividend will be paid on May 13, 2020, to shareholders registered
as of April 27, 2020.</FONT></TD>
</TR></TABLE>



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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4.3pt 0pt 0"><B>Notes: </B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">-</FONT></TD><TD STYLE="text-align: justify; padding-right: 4.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Numbers and percentages
set forth in this earnings release have been rounded and accordingly may not total exactly.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">-</FONT></TD><TD STYLE="text-align: justify; padding-right: 4.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">QoQ and YoY refer
to quarter-on-quarter and year-on-year variations, respectively. </FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4.5pt 0pt 0"><B>Footnotes:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4.5pt 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">1)</TD><TD STYLE="text-align: justify; padding-right: 4.5pt">Earnings per Share (&ldquo;EPS&rdquo;) calculation is based on the average
number of shares outstanding during each period.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">2)</TD><TD STYLE="text-align: justify; padding-right: 4.5pt">ROAE refers to return on average stockholders&rsquo; equity which is calculated
on the basis of unaudited daily average balances.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">3)</TD><TD STYLE="text-align: justify; padding-right: 4.5pt">NIM refers to net interest margin which constitutes to Net Interest Income
(&ldquo;NII&rdquo;) divided by the average balance of interest-earning assets.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">4)</TD><TD STYLE="text-align: justify; padding-right: 4.5pt">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.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">5)</TD><TD STYLE="text-align: justify; padding-right: 4.5pt">Efficiency Ratio refers to consolidated operating expenses as a percentage
of total revenues.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">6)</TD><TD STYLE="text-align: justify; padding-right: 4.5pt">The Bank&rsquo;s &ldquo;Credit Portfolio&rdquo; includes gross loans (or
the &ldquo;Loan Portfolio&rdquo;), securities at FVOCI and at amortized cost, gross of interest receivable and the allowance for
expected credit losses, loan commitments and financial guarantee contracts, such as confirmed and stand-by letters of credit, and
guarantees covering commercial risk; and other assets consisting of customers&rsquo; liabilities under acceptances.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">7)</TD><TD STYLE="text-align: justify; padding-right: 4.5pt">The Bank&rsquo;s &ldquo;Commercial Portfolio&rdquo; includes gross loans
(or the &ldquo;Loan Portfolio&rdquo;), loan commitments and financial guarantee contracts, such as issued and confirmed letters
of credit, stand-by letters of credit, guarantees covering commercial risk and other assets consisting of customers&rsquo; liabilities
under acceptances.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">8)</TD><TD STYLE="text-align: justify; padding-right: 4.5pt">Market capitalization corresponds to total outstanding common shares multiplied
by market close price at the end of each corresponding period.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">9)</TD><TD STYLE="text-align: justify; padding-right: 4.5pt">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
fair value through OCI. 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.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">10)</TD><TD STYLE="text-align: justify; padding-right: 4.5pt">Liquid assets refer to total cash and due from banks, 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.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">11)</TD><TD STYLE="text-align: justify; padding-right: 4.5pt">Credit-impaired loans are also commonly referred to as Non-Performing Loans
or NPLs. Loan Portfolio refers to gross loans, excluding interest receivable, the allowance for loan losses, and unearned interest
and deferred fees.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">12)</TD><TD STYLE="text-align: justify; padding-right: 4.5pt">Total allowance for losses refers to allowance for loan losses plus allowance
for loan commitments and financial guarantee contract losses and allowance for investment securities losses.</TD></TR></TABLE>

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

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

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

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><IMG SRC="image_003.jpg" ALT="">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4.5pt 0pt 0"><B>SAFE HARBOR STATEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4.5pt 0pt 0"><B>&nbsp;</B></P>

<P STYLE="padding-right: 3pt; border: navy 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; padding-left: 3pt"><I>This press release
contains forward-looking statements of expected future developments within the meaning of the Private Securities Litigation Reform
Act of 1995 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements can be identified by words such
as: &ldquo;anticipate&rdquo;, &ldquo;intend&rdquo;, &ldquo;plan&rdquo;, &ldquo;goal&rdquo;, &ldquo;seek&rdquo;, &ldquo;believe&rdquo;,
 &ldquo;project&rdquo;, &ldquo;estimate&rdquo;, &ldquo;expect&rdquo;, &ldquo;strategy&rdquo;, &ldquo;future&rdquo;, &ldquo;likely&rdquo;,
 &ldquo;may&rdquo;, &ldquo;should&rdquo;, &ldquo;will&rdquo; and similar references to future periods. The forward-looking statements
in this press release include the Bank&rsquo;s financial position, asset quality and profitability, among others. These forward-looking
statements reflect the expectations of the Bank&rsquo;s management and are based on currently available data; however, actual performance
and results are 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 coronavirus (COVID-19) pandemic
and government actions intended to limit its spread; the anticipated changes in 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. Factors or events that could cause our actual results to differ
may emerge from time to time, and it is not possible for us to predict all of them. Readers are cautioned not to place undue reliance
on these forward-looking statements, which speak only as of the date hereof. We undertake no obligation to publicly update any
forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required
by law. </I></P>



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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4.5pt 0pt 0"><B>ABOUT BLADEX</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4.5pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4.3pt 0pt 0; text-align: justify">Bladex, a multinational bank
originally established by the central banks of Latin-American and Caribbean countries, began operations in 1979 to promote foreign
trade and economic integration in the Region. The Bank, headquartered in Panama, also has offices in Argentina, Brazil, Colombia,
Mexico, and the United States of America, and a Representative License in Peru, supporting the regional expansion and servicing
its customer base, which includes financial institutions and corporations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4.3pt 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4.3pt 0pt 0; text-align: justify">Bladex is listed on the NYSE
in the United States of America (NYSE: BLX), since 1992, and its shareholders include: central banks and state-owned banks and
entities representing 23 Latin American countries; commercial banks and financial institutions; and institutional and retail investors
through its public listing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4.5pt 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4.5pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4.5pt 0pt 0"><B>CONFERENCE CALL INFORMATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4.5pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4.5pt 0pt 0; text-align: justify">There will be a conference call
to discuss the Bank&rsquo;s quarterly results on Wednesday, April 15, 2020 at 11:00 a.m. New York City time (Eastern Time). For
those interested in participating, please dial 1-877-271-1828 in the United States or, if outside the United States, 1-334-323-9871.
Participants should use conference passcode 44414285#, and dial in five minutes before the call is set to begin. There will also
be a live audio webcast of the conference at http://www.bladex.com. The webcast presentation will be available for viewing and
downloads on <U>http://www.bladex.com</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4.5pt 0pt 0; text-align: justify">The conference call will become
available for review on Conference Replay one hour after its conclusion and will remain available for 60 days. Please dial (877)
919-4059 or (334) 323-0140 and follow the instructions. The replay passcode is: 88179402.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4.5pt 0pt 0">For more information, please access <U>http://www.bladex.com
</U>or contact:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4.5pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4.5pt 0pt 0">Mrs. Ana Graciela de M&eacute;ndez</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4.5pt 0pt 0">Chief Financial Officer</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4.5pt 0pt 0">Tel: +507 210-8563</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4.5pt 0pt 0">E-mail address: <U>amendez@bladex.com</U></P>



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