<SEC-DOCUMENT>0001104659-21-061725.txt : 20210505
<SEC-HEADER>0001104659-21-061725.hdr.sgml : 20210505
<ACCEPTANCE-DATETIME>20210505161456
ACCESSION NUMBER:		0001104659-21-061725
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20210505
FILED AS OF DATE:		20210505
DATE AS OF CHANGE:		20210505

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:		21893428

	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>tm2115313d3_6k.htm
<DESCRIPTION>FORM 6-K
<TEXT>
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<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0; margin-bottom: 0; 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="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>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"><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">&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: 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">&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: 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&nbsp;<FONT STYLE="font-family: Wingdings">&#120;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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: 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">Yes <FONT STYLE="font-family: Wingdings">&#168;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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"></P>

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

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    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid">&nbsp;</DIV>
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<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: 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">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: Black">Date: May 5, 2021</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt; color: Black">FOREIGN
    TRADE BANK OF LATIN AMERICA, INC.</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: italic 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="font: italic 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt; color: Black">(Registrant)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 50%"><FONT STYLE="font-size: 10pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; width: 4%"><FONT STYLE="font-size: 10pt; color: Black">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; width: 45%"><FONT STYLE="font-size: 10pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt; color: Black">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt; color: Black">By: <U>/s/ Ana
    Graciela de M&eacute;ndez</U></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt; color: Black">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt; color: Black">Name: Ana Graciela
    de M&eacute;ndez</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt; color: Black">Title: 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 STYLE="font-style: normal">&nbsp;</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-style: normal; color: Black"><IMG SRC="image_002.jpg" ALT="">&nbsp;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #1F497D"><FONT STYLE="color: Black"><B>BLADEX
                                            ANNOUNCES FIRST QUARTER 2021 PROFIT OF $12.8 MILLION, OR $0.32 PER SHARE </B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #1F497D"><FONT STYLE="color: Black"><B>PANAMA
CITY, REPUBLIC OF PANAMA, May 5, 2021</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;1Q21&rdquo;) ended March 31, 2021.</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; text-align: justify"><FONT STYLE="color: Black"></FONT></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-top: 0pt; margin-bottom: 0pt"><FONT STYLE="color: Black"><B>FINANCIAL SNAPSHOT</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="color: Black"><B>&nbsp;</B></FONT></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<BR>
 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">1Q21</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">4Q20</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">1Q20</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: 61%; font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">Net Interest Income ("NII")</FONT></TD><TD STYLE="width: 1%; 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">$</FONT></TD><TD STYLE="width: 10%; font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">18.9</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="width: 10%; font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">22.3</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 1%; 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">$</FONT></TD><TD STYLE="width: 10%; font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">25.8</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">Fees and commissions, net</FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">3.0</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">$</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">2.8</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">3.1</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: White">
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">Loss on financial instruments, 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">$</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right">(<FONT STYLE="color: Black">0.1</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right">(<FONT STYLE="color: Black">0.1</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">$</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right">(<FONT STYLE="color: Black">0.4</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">Total revenues</FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">22.0</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">$</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">25.3</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">28.8</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">Reversal for credit losses</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">$</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">0.0</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">0.3</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">$</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">0.1</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">Operating expenses</FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left">$</TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right">(<FONT STYLE="color: Black">9.1</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">$</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right">(<FONT STYLE="color: Black">10.2</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">$</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></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <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">$</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">12.8</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">15.7</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">$</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></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">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: White">
    <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">0.32</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">$</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">0.40</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">0.46</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">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">5.0</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">6.1</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">7.2</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">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">0.8</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">1.0</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">1.1</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; 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">1.24</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">1.37</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">1.59</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 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">1.04</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">1.17</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: rgb(204,238,255)">
    <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">41.6</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">40.2</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">36.7</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: #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: 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
    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">$</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">6,097</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">5,946</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">$</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">5,911</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; color: #404040; font-weight: 400; font-style: normal; text-align: left"><FONT STYLE="color: Black">Commercial
    Portfolio <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(7)</SUP></FONT></FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">5,708</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">$</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">5,551</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">5,832</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">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">$</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">389</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">395</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">$</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">79</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">Total assets</FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">6,375</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">$</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">6,289</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">6,823</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 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">$</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">1,037</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">1,038</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">$</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">1,018</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; color: #404040; font-weight: 400; font-style: normal; text-align: left"><FONT STYLE="color: Black">Market
    capitalization <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(8)</SUP></FONT></FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">601</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">$</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">628</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #404040"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #404040; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">408</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">Tier
    1 Capital to risk-weighted assets (Basel III &ndash; IRB) <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">26.3</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">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #404040; text-align: right"><FONT STYLE="color: Black">26.0</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">21.8</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: White">
    <TD STYLE="font-size: 10pt; color: #404040; font-weight: 400; font-style: normal; text-align: justify"><FONT STYLE="color: Black">Capital
    Adequacy Ratio (Regulatory) <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">19.4</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">20.2</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">19.2</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">6.1</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">6.1</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">6.7</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>(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">15.6</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">16.7</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">19.0</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>(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">0.21</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">0.22</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">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>(13)</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">0.73</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">0.75</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>(13)</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">4.2</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">4.2</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></TR>
  </TABLE>


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

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

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


<P STYLE="margin: 0pt 0"><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">Sequential
quarterly Commercial Portfolio growth continues the trend that started last year, up 3% QoQ to reach $5.7 billion, driven by higher loan
origination (+5% QoQ), with a continued focus on defensive sectors and stricter credit underwriting standards.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><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">During
1Q21, Bladex continues to collect virtually all loan maturities (close to 100% since the onset of Covid-19), evidencing the high quality
of the Bank&rsquo;s borrower base and short-term nature of its business.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><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">As
of March 31, 2021, Bladex&rsquo;s credit quality remains sound, with a well-diversified exposure across countries, having 57% of the
Commercial Portfolio in investment grade countries, 53% with financial institutions and 18% with sovereign and state-owned corporations.
As well, Bladex continues with the downsize of exposures to higher risk sectors since the onset of Covid-19, such as sugar (-46%) and
airlines (-67%), now representing 1% and 0.8% of the total portfolio, respectively.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><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">As
of March 31, 2021, credit-impaired loans (&ldquo;NPLs&rdquo;) totaled $11 million, unchanged from the previous quarter, representing
0.2% of the total Loan Portfolio. Total allowance for expected credit losses remained stable with no credit provision charges during
the quarter.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><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">Bladex
maintained a sound and diversified funding structure in 1Q21, supported by the continued growth of its deposit base (+1 QoQ; +29% YoY).
In turn, the Bank&rsquo;s liquidity position remained stable QoQ at $992 million (16% of Total Assets) as of March 31, 2021.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><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">Bladex&rsquo;s
Profit for 1Q21 was $12.8 million (-19% QoQ, -30% YoY), mostly due to lower Net Interest Income (NII). The 15% QoQ decrease in NII was
mainly driven by lower net lending spreads, returning to pre-Covid levels at 150 bps, partially offset by Credit Portfolio growth and
lower liquidity levels. The 27% YoY decrease in NII was mainly impacted by lower Libor-based rates and average lending volumes, still
below pre-Covid balances.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><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">Fees
and commissions income totaled $3.0 million for 1Q21, relatively stable on absolute terms, on steady fees from the Bank&rsquo;s letters
of credit business. Fees from loan syndication business have been impacted since the onset of the Covid-19 pandemic, but this transaction-based
business is starting to pick up, as evidenced by the recent execution of a $300 million loan transaction in April of 2021, where Bladex
acted as Joint Lead Arranger.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><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">Expenses
remain closely controlled, down 10% on a sequential quarter basis due to the usual seasonally lower levels of the first quarter of the
year. Year-on-year, expenses were down by 13%, mainly on lower personnel expenses related to decreased performance-based variable compensation
provision. Efficiency Ratio stood at 41.6%, on lower income generation.<BR STYLE="clear: both"></FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4.5pt 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"><FONT STYLE="color: Black"><B>CEO&rsquo;s Comments</B></FONT></P>


<P STYLE="margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;&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: &ldquo;We entered 2021 with a sound credit portfolio with almost zero NPLs,
a robust funding structure and a comfortable liquidity position. This is our third consecutive quarter of growth without relaxing credit
underwriting standards. The level of our Commercial Portfolio as of March 2021 was close to that of a year ago, but still more than $800
million below the level of December 2019. On the other hand, despite the uncertainty generated by the delayed vaccination campaigns in
some of the countries in the Region, we are starting to see clear signals of recovery for the Region. Recently, the International Monetary
Fund revised its 2021 growth estimates for Latin America, from 3% to 4.6% and, what is even more relevant for Bladex, the growth estimates
for trade have also been revised upwards from 8.2% to 16.2%, mainly driven by higher volumes and higher commodity prices.&rdquo;</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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4.3pt 0pt 0; text-align: justify; color: #595959"><FONT STYLE="color: Black">Mr.
Salas added: &ldquo;Bladex&rsquo;s first quarter results do not yet reflect this recovery, but we are confident that this will happen
as the Region&rsquo;s economies continue on this upward path. The Board&rsquo;s decision to carry out a Stock Repurchase for up to $60
million, under an Open Market Program, is a testament to that conviction, while, at the same time, providing us with the financial flexibility
to respond to both opportunities and challenges in the Region. In addition, the Board maintained the quarterly dividend at $0.25 cents
per share, which also reflects Bladex&rsquo;s financial strength and earnings quality.&rdquo;</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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4.3pt 0pt 0; text-align: justify; color: #595959"><FONT STYLE="color: Black">Mr.
Salas concluded: &ldquo;A year later after I joined the Bank, we have an even cleaner balance sheet, an even more committed team and
the Board&rsquo;s mandate to explore different avenues to grow the Bank and return more value to shareholders remains unchanged. Although
the Pandemic continues to pose significant challenges for the Region, we believe that the Bank has many opportunities to grow and to
increase its products and services offerings. Bladex is well-prepared to navigate 2021 and we look forward to reporting our progress
to you in future quarters.&rdquo;</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;&nbsp;</FONT></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4.5pt 0pt 0"><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: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings; color: Black">&sect;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black"><B>Open
Market Repurchase Program of up to $60 million:</B> The Bank&rsquo;s Board of Directors (the &ldquo;Board&rdquo;) has authorized a repurchase
program of up to $60 million of the Bank&rsquo;s common stock. The repurchase program is intended to comply with Rule 10b-18 promulgated
under the Securities Exchange Act of 1934, as amended (&ldquo;Rule 10b-18&rdquo;).</FONT></TD>
</TR></TABLE>

<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: Black">&sect;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black"><B>Quarterly
dividend payment:</B> The Board approved a quarterly common dividend of $0.25 per share corresponding to the first quarter 2021. The
cash dividend will be paid on June 2, 2021, to shareholders registered as of May 17, 2021.</FONT></TD>
</TR></TABLE>

<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: Black">&sect;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black"><B>Annual
Shareholders&rsquo; Meeting Results:</B> At the Annual Shareholders&rsquo; Meeting held on April 29, 2021, in Panama City, Panama, shareholders:</FONT></TD>
</TR></TABLE>

<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: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; color: Black">-</FONT></TD><TD STYLE="text-align: justify; padding-right: 4.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">Elected
                                            Mr. Miguel Heras Castro as Director representing Class &ldquo;E&rdquo; shares of the Bank&rsquo;s
                                            common stock, and Mrs. Isela Costantini and Mrs. Alexandra M. Aguirre, as Directors representing
                                            All Classes of shares of the Bank&rsquo;s common stock.</FONT></TD></TR></TABLE>

<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: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; color: Black">-</FONT></TD><TD STYLE="text-align: justify; padding-right: 4.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">Approved
                                            the Bank&rsquo;s audited consolidated financial statements for the fiscal year ended December
                                            31, 2020.</FONT></TD></TR></TABLE>

<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: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; color: Black">-</FONT></TD><TD STYLE="text-align: justify; padding-right: 4.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">Ratified
                                            KPMG as the Bank&rsquo;s independent registered public accounting firm for the fiscal year
                                            ending December 31, 2021. </FONT></TD></TR></TABLE>

<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: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; color: Black">-</FONT></TD><TD STYLE="text-align: justify; padding-right: 4.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">Approved,
                                            on an advisory basis, the compensation of the Bank&rsquo;s executive officers.</FONT></TD></TR></TABLE>

<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: Wingdings; color: Black">&sect;</FONT></TD><TD STYLE="text-align: justify; padding-right: 4.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black"><B>Ratings
                                            updates:</B> On April 14, 2021, S&amp;P Global Ratings affirmed the Bank&rsquo;s global-
                                            and national-scale issuer credit ratings at &ldquo;BBB/A-2&rdquo; and &ldquo;mxAAA&rdquo;,
                                            respectively. The outlook was revised to &ldquo;Stable&rdquo; from &ldquo;Negative&rdquo;
                                            on sound asset quality metrics. According to S&amp;P Global Ratings&rsquo; view, <I>&ldquo;Banco
                                            Latinoamericano de Comercio Exterior S.A. (Bladex) was able to cope with the COVID-19 breakout
                                            thanks to strong capitalization levels and solid risk management, which has enabled it to
                                            maintain a healthy and diversified portfolio without erosion of its capital metrics. The
                                            stable outlook reflects our expectation that Bladex will withstand the prolonged downside
                                            risks from the pandemic thanks to sound capital metrics and manageable asset quality metrics,
                                            while it maintains its most relevant credit exposures in countries with lower economic risks.&rdquo;</I></FONT></TD></TR></TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4.5pt 0pt 0.5in; text-align: justify"><FONT STYLE="color: Black"></FONT></P>

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

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

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

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; color: Black">-</FONT></TD><TD STYLE="text-align: justify; padding-right: 4.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">Numbers
                                            and percentages set forth in this earnings release have been rounded and accordingly may
                                            not total exactly.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="color: Black">&nbsp;</FONT></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; color: Black">-</FONT></TD><TD STYLE="text-align: justify; padding-right: 4.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">QoQ
                                            and YoY refer to quarter-on-quarter and year-on-year variations, respectively. </FONT></TD></TR></TABLE>

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

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

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

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

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

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="color: Black">1)</FONT></TD><TD STYLE="text-align: justify; padding-right: 4.5pt"><FONT STYLE="color: Black">Earnings
                                            per Share (&ldquo;EPS&rdquo;) calculation is based on the average number of shares outstanding
                                            during each period.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="color: Black">&nbsp;</FONT></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="color: Black">2)</FONT></TD><TD STYLE="text-align: justify; padding-right: 4.5pt"><FONT STYLE="color: Black">ROAE
                                            refers to return on average stockholders&rsquo; equity which is calculated on the basis of
                                            unaudited daily average balances.</FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="color: Black">&nbsp;</FONT></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="color: Black">4)</FONT></TD><TD STYLE="text-align: justify; padding-right: 4.5pt"><FONT STYLE="color: Black">NIS
                                            refers to net interest spread which constitutes the average yield earned on interest-earning
                                            assets, less the average yield paid on interest-bearing liabilities.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="color: Black">&nbsp;</FONT></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="color: Black">5)</FONT></TD><TD STYLE="text-align: justify; padding-right: 4.5pt"><FONT STYLE="color: Black">Efficiency
                                            Ratio refers to consolidated operating expenses as a percentage of total revenues.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="color: Black">&nbsp;</FONT></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="color: Black">6)</FONT></TD><TD STYLE="text-align: justify; padding-right: 4.5pt"><FONT STYLE="color: Black">The
                                            Bank&rsquo;s &ldquo;Credit Portfolio&rdquo; includes gross loans at amortized cost (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.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="color: Black">&nbsp;</FONT></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="color: Black">7)</FONT></TD><TD STYLE="text-align: justify; padding-right: 4.5pt"><FONT STYLE="color: Black">The
                                            Bank&rsquo;s &ldquo;Commercial Portfolio&rdquo; includes gross loans at amortized cost (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.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="color: Black">&nbsp;</FONT></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="color: Black">8)</FONT></TD><TD STYLE="text-align: justify; padding-right: 4.5pt"><FONT STYLE="color: Black">Market
                                            capitalization corresponds to total outstanding common shares multiplied by market close
                                            price at the end of each corresponding period.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="color: Black">&nbsp;</FONT></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="color: Black">9)</FONT></TD><TD STYLE="text-align: justify; padding-right: 4.5pt"><FONT STYLE="color: Black">Tier
                                            1 Capital ratio is calculated according to Basel III capital adequacy guidelines, and as
                                            a percentage of risk-weighted assets. Risk-weighted assets are estimated based on Basel III
                                            capital adequacy guidelines, utilizing internal-ratings based approach or &ldquo;IRB&rdquo;
                                            for credit risk and standardized approach for operational risk.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="color: Black">&nbsp;</FONT></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="color: Black">10)</FONT></TD><TD STYLE="text-align: justify; padding-right: 4.5pt"><FONT STYLE="color: Black">As
                                            defined by the Superintendency of Banks of Panama through Rules No. 01-2015 and 03-2016,
                                            based on Basel III standardized approach. The capital adequacy ratio is defined as the ratio
                                            of capital funds to risk-weighted assets, rated according to the asset&rsquo;s categories
                                            for credit risk. In addition, risk-weighted assets consider calculations for market risk
                                            and operating risk.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="color: Black">&nbsp;</FONT></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="color: Black">11)</FONT></TD><TD STYLE="text-align: justify; padding-right: 4.5pt"><FONT STYLE="color: Black">Liquid
                                            assets refer to total cash and cash equivalents, consisting of cash and due from banks and
                                            interest-bearing deposits in banks, excluding pledged deposits and margin calls; as well
                                            as highly rated corporate debt securities (above &lsquo;A-&lsquo;). Liquidity ratio refers
                                            to liquid assets as a percentage of total assets.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="color: Black">&nbsp;</FONT></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="color: Black">12)</FONT></TD><TD STYLE="text-align: justify; padding-right: 4.5pt"><FONT STYLE="color: Black">Loan
                                            Portfolio refers to gross loans at amortized cost, excluding interest receivable, the allowance
                                            for loan losses, and unearned interest and deferred fees. Credit-impaired loans are also
                                            commonly referred to as Non-Performing Loans or NPLs.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="color: Black">&nbsp;</FONT></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="color: Black">13)</FONT></TD><TD STYLE="text-align: justify; padding-right: 4.5pt"><FONT STYLE="color: Black">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.</FONT></TD></TR></TABLE>

<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>

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

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

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

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

<P STYLE="border: navy 1pt solid; padding-right: 2.5pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; padding-left: 2.5pt"><FONT STYLE="color: Black"><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></FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4.5pt 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"><FONT STYLE="color: Black">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.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4.3pt 0pt 0; text-align: justify"><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"><FONT STYLE="color: Black">Bladex is
listed on the NYSE in the United States of America (NYSE: BLX), since 1992, and its shareholders include: central banks 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.</FONT></P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4.5pt 0pt 0; text-align: justify"><FONT STYLE="color: Black">There will
be a conference call to discuss the Bank&rsquo;s quarterly results on Wednesday, May 5, 2021 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 68251167, and dial in five minutes before the call is set to begin. There will also be a
live audio webcast of the conference at <U>http://www.bladex.com</U>. The webcast presentation will be available for viewing and downloads
on <U>http://www.bladex.com</U>.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4.5pt 0pt 0; text-align: justify"><FONT STYLE="color: Black">The conference
call will become available for review on Conference Replay one hour after its conclusion and will remain available for 60 days. Please
dial (877) 919-4059 or (334) 323-0140 and follow the instructions. The replay passcode is: 37768534.</FONT></P>

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

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

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

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

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

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

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

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

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

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