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Financial risk (Tables) | 12 Months Ended
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Dec. 31, 2021
Disclosure of nature and extent of risks arising from financial instruments [line items] |
Schedule of credit exposure of derivative transactions | The following table presents an analysis of counterparty credit exposures arising from derivative transactions. The Bank's derivative fair values are generally secured by cash.
| December 31, 2021
| Notional value USD |  | Derivative financial instruments - fair value asset |  | Derivative financial instruments - fair value liabilities
Interest rate swaps | 60,000 |  |  | 1,282 |  |  | (538) |
Cross-currency swaps | 883,931 |  |  | 9,523 |  |  | (27,917) |
Foreign exchange forwards | — |  |  | — |  |  | — |
Total | 943,931 |  |  | 10,805 |  |  | (28,455) |
| December 31, 2020
| Notional value USD |  | Derivative financial instruments - fair value asset |  | Derivative financial instruments - fair value liabilities
Interest rate swaps | 145,667 |  |  | 1,831 |  |  | (1,774) |
Cross-currency swaps | 565,997 |  |  | 25,947 |  |  | (3,848) |
Foreign exchange forwards | 71,353 |  |  | — |  |  | (3,589) |
Total | 783,017 |  |  | 27,778 |  |  | (9,211) |
Schedule of macroeconomic assumptions used in the base, optimistic and pessimistic scenarios | The table below lists the macroeconomic assumptions by country used in the central, upside and downside scenarios over the five-year forecasted average available for each reporting period.
|  |  |  | Variable
|  |  |  | GDP Growth (Var.% ) |  | ComEx Growth Index (Var.% )
Country |  | Scenario |  | December 31, 2021 |  | December 31, 2020 |  | December 31, 2021 |  | December 31, 2020
|  | Central |  | 2.7 | % |  | 0.7 | % |  | 9.5 | % |  | 4.0 | %
Brazil |  | Upside |  | 3.7 | % |  | 1.7 | % |  | 13.0 | % |  | 7.5 | %
|  | Downside |  | 1.3 | % |  | -0.7 | % |  | 5.5 | % |  | 0.0 | %
|  | Central |  | 4.6 | % |  | 1.4 | % |  | 10.7 | % |  | 4.6 | %
Colombia |  | Upside |  | 5.7 | % |  | 2.5 | % |  | 13.7 | % |  | 7.6 | %
|  | Downside |  | 3.3 | % |  | 0.1 | % |  | 7.2 | % |  | 1.1 | %
|  | Central |  | 3.0 | % |  | 0.2 | % |  | 9.4 | % |  | 3.5 | %
Mexico |  | Upside |  | 4.0 | % |  | 1.2 | % |  | 13.4 | % |  | 7.5 | %
|  | Downside |  | 1.8 | % |  | -1.0 | % |  | 4.9 | % |  | -1.0 | %
|  | Central |  | 3.4 | % |  | 1.5 | % |  | 12.4 | % |  | 6.4 | %
Chile |  | Upside |  | 4.5 | % |  | 2.6 | % |  | 15.9 | % |  | 9.9 | %
|  | Downside |  | 2.2 | % |  | 0.3 | % |  | 8.4 | % |  | 2.4 | %
|  | Central |  | 6.2 | % |  | 4.8 | % |  | 11.0 | % |  | 9.5 | %
Dominican Republic |  | Upside |  | 7.4 | % |  | 6.0 | % |  | 14.5 | % |  | 13.0 | %
|  | Downside |  | 4.9 | % |  | 3.5 | % |  | 7.0 | % |  | 5.5 | %
|  | Central |  | 3.5 | % |  | 2.5 | % |  | 8.1 | % |  | 4.2 | %
Guatemala |  | Upside |  | 4.5 | % |  | 3.5 | % |  | 11.1 | % |  | 7.2 | %
|  | Downside |  | 2.3 | % |  | 1.3 | % |  | 4.6 | % |  | 0.7 | %
|  | Central |  | 4.9 | % |  | 1.4 | % |  | 11.7 | % |  | 5.1 | %
Peru |  | Upside |  | 5.9 | % |  | 2.4 | % |  | 15.2 | % |  | 8.6 | %
|  | Downside |  | 3.7 | % |  | 0.2 | % |  | 7.7 | % |  | 1.1 | %
|  | Central |  | 2.3 | % |  | -0.2 | % |  | 8.7 | % |  | 2.7 | %
Ecuador |  | Upside |  | 3.3 | % |  | 0.8 | % |  | 11.7 | % |  | 5.7 | %
|  | Downside |  | 0.8 | % |  | -1.7 | % |  | 5.2 | % |  | -0.8 | %
Schedule of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments |
|  |  |  |  |  | Securities |  |
December 31, 2021 |  | Loans at amortized cost |  | Loan commitments and financial guarantee contracts |  | At amortized cost |  | FVOCI |  | Total
Net effect of changes in allowance for expected credit losses |  | (2,477) |  |  | (54) |  |  | (20) |  |  | — |  |  | (2,551) |
Financial instruments that have been derecognized during the year |  | (14,715) |  |  | (1,948) |  |  | (193) |  |  | (17) |  |  | (16,873) |
New financial assets originated or purchased |  | 17,343 |  |  | 2,901 |  |  | 1,508 |  |  | — |  |  | 21,752 |
Total |  | 151 |  |  | 899 |  |  | 1,295 |  |  | (17) |  |  | 2,328 |
|  |  |  |  |  | Securities |  |
December 31, 2020 |  | Loans at amortized cost |  | Loan commitments and financial guarantee contracts |  | At amortized cost |  | FVOCI |  | Total
Net effect of changes in allowance for expected credit losses |  | 13,459 |  |  | 79 |  |  | 38 |  |  | — |  |  | 13,576 |
Financial instruments that have been derecognized during the year |  | (28,036) |  |  | (1,885) |  |  | (86) |  |  | — |  |  | (30,007) |
New financial assets originated or purchased |  | 12,828 |  |  | 1,666 |  |  | 430 |  |  | 43 |  |  | 14,967 |
Total |  | (1,749) |  |  | (140) |  |  | 382 |  |  | 43 |  |  | (1,464) |
|  |  |  |  |  | Securities |  |
December 31, 2019 |  | Loans at amortized cost |  | Loan commitments and financial guarantee contracts |  | At amortized cost |  | FVOCI |  | Total
Net effect of changes in allowance for expected credit losses |  | 11,714 |  |  | 153 |  |  | (18) |  |  | — |  |  | 11,849 |
Financial instruments that have been derecognized during the year |  | (36,534) |  |  | (2,506) |  |  | (46) |  |  | (173) |  |  | (39,259) |
New financial assets originated or purchased |  | 25,695 |  |  | 2,108 |  |  | 37 |  |  | — |  |  | 27,840 |
Total |  | 875 |  |  | (245) |  |  | (27) |  |  | (173) |  |  | 430 |
Schedule of reconciliation of changes in the net carrying amount of credit-impaired loans | The following table sets out a reconciliation of changes in the carrying amount of allowance for credit losses for credit-impaired loans
| December 31, 2021 |  | December 31, 2020
Credit-impaired loans and advances at beginning of year | 4,588 |  |  | 54,573 |
Classified as credit-impaired during the year | — |  |  | 2,100 |
Change in allowance for expected credit losses | 191 |  |  | (744) |
Recoveries of amounts previously written off | 160 |  |  | 139 |
Interest income | 247 |  |  | 626 |
Write-offs | — |  |  | (52,106) |
Credit-impaired loans and advances at end of year | 5,186 |  |  | 4,588 |
Schedule of concentrations of credit risk by sector and industry. | Concentration by sector and industry
|  |  |  |  |  |  |  |  | Securities
| Loans at amortized cost |  | Loan commitments and financial guarantee contracts |  | At amortized cost |  | FVOCI
| December 31, 2021 |  | December 31, 2020 |  | December 31, 2021 |  | December 31, 2020 |  | December 31, 2021 |  | December 31, 2020 |  | December 31, 2021 |  | December 31, 2020
Carrying amount - principal | 5,734,605 |  |  | 4,911,397 |  |  | 201,515 |  |  | 74,366 |  |  | 631,123 |  |  | 164,074 |  |  | 193,488 |  |  | 231,348 |
Amount committed/guaranteed | — |  |  | — |  |  | 603,759 |  |  | 564,898 |  |  | — |  |  | — |  |  | — |  |  | — |
Concentration by sector |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporations: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Private | 1,934,056 |  |  | 1,425,929 |  |  | 336,181 |  |  | 276,249 |  |  | 362,085 |  |  | 56,979 |  |  | 59,096 |  |  | 60,403 |
State-owned | 1,085,211 |  |  | 741,791 |  |  | 47,144 |  |  | 92,299 |  |  | 43,266 |  |  | 29,985 |  |  | — |  |  | 23,858 |
Financial institutions: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Private | 2,123,881 |  |  | 2,231,742 |  |  | 140,289 |  |  | 65,434 |  |  | 127,690 |  |  | 33,715 |  |  | — |  |  | — |
State-owned | 567,847 |  |  | 476,520 |  |  | 281,660 |  |  | 205,282 |  |  | 46,496 |  |  | 28,276 |  |  | 134,392 |  |  | 141,974 |
Sovereign | 23,610 |  |  | 35,415 |  |  | — |  |  | — |  |  | 51,586 |  |  | 15,119 |  |  | — |  |  | 5,113 |
Total | 5,734,605 |  |  | 4,911,397 |  |  | 805,274 |  |  | 639,264 |  |  | 631,123 |  |  | 164,074 |  |  | 193,488 |  |  | 231,348 |
Concentration by industry |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Financial institutions | 2,691,728 |  |  | 2,708,262 |  |  | 421,949 |  |  | 270,716 |  |  | 174,186 |  |  | 61,991 |  |  | 134,392 |  |  | 141,974 |
Manufacturing | 1,122,325 |  |  | 760,985 |  |  | 193,169 |  |  | 173,493 |  |  | 180,088 |  |  | 66,053 |  |  | 44,586 |  |  | 45,654 |
Oil and petroleum derived products | 1,091,264 |  |  | 586,030 |  |  | 62,208 |  |  | 98,189 |  |  | 74,954 |  |  | 20,911 |  |  | 14,510 |  |  | 38,607 |
Agricultural | 267,382 |  |  | 336,715 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Services | 220,942 |  |  | 264,597 |  |  | 55,612 |  |  | 63,086 |  |  | 66,609 |  |  | — |  |  | — |  |  | — |
Mining | 95,364 |  |  | 94,955 |  |  | — |  |  | — |  |  | 9,912 |  |  | — |  |  | — |  |  | — |
Sovereign | 23,610 |  |  | 35,415 |  |  | — |  |  | — |  |  | 51,586 |  |  | 15,119 |  |  | 0 |  |  | 5,113 |
Other | 221,990 |  |  | 124,438 |  |  | 72,336 |  |  | 33,780 |  |  | 73,788 |  |  | — |  |  | — |  |  | — |
Total | 5,734,605 |  |  | 4,911,397 |  |  | 805,274 |  |  | 639,264 |  |  | 631,123 |  |  | 164,074 |  |  | 193,488 |  |  | 231,348 |
Schedule of concentrations of credit risk by rating and country | Risk rating and concentration by country.
|  |  |  |  |  |  |  |  | Securities
| Loans at amortized cost |  | Loan commitments and financial guarantee contracts |  | At amortized cost |  | FVOCI
| December 31, 2021 |  | December 31, 2020 |  | December 31, 2021 |  | December 31, 2020 |  | December 31, 2021 |  | December 31, 2020 |  | December 31, 2021 |  | December 31, 2020
Carrying amount - principal | 5,734,605 |  |  | 4,911,397 |  |  | 201,515 |  |  | 74,366 |  |  | 631,123 |  |  | 164,074 |  |  | 193,488 |  |  | 231,348 |
Amount committed/guaranteed | — |  |  | — |  |  | 603,759 |  |  | 564,898 |  |  | — |  |  | — |  |  | — |  |  | — |
Rating |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
1-4 | 3,016,938 |  |  | 2,582,794 |  |  | 312,016 |  |  | 247,425 |  |  | 453,627 |  |  | 108,505 |  |  | 193,488 |  |  | 231,348 |
5-6 | 2,524,147 |  |  | 2,096,138 |  |  | 201,296 |  |  | 237,807 |  |  | 177,496 |  |  | 55,569 |  |  | — |  |  | — |
7-8 | 193,520 |  |  | 232,465 |  |  | 291,962 |  |  | 154,032 |  |  | — |  |  | — |  |  | — |  |  | — |
Total | 5,734,605 |  |  | 4,911,397 |  |  | 805,274 |  |  | 639,264 |  |  | 631,123 |  |  | 164,074 |  |  | 193,488 |  |  | 231,348 |
Concentration by country |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Argentina | 74,252 |  |  | 130,944 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Australia | — |  |  | — |  |  | — |  |  | — |  |  | 9,900 |  |  | — |  |  | — |  |  | — |
Belgium | 17,374 |  |  | 9,807 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Bolivia | 3,000 |  |  | 12,000 |  |  | 2,983 |  |  | 2,800 |  |  | — |  |  | — |  |  | — |  |  | — |
Brazil | 1,101,999 |  |  | 971,652 |  |  | — |  |  | 50,000 |  |  | 99,082 |  |  | 41,128 |  |  | — |  |  | — |
Canada | — |  |  | — |  |  | — |  |  | — |  |  | 13,786 |  |  | — |  |  | — |  |  | — |
Chile | 625,119 |  |  | 533,945 |  |  | 41,932 |  |  | 7,911 |  |  | 105,730 |  |  | 11,992 |  |  | — |  |  | 28,972 |
Colombia | 795,467 |  |  | 714,258 |  |  | 50,630 |  |  | 50,333 |  |  | 38,038 |  |  | 29,998 |  |  | — |  |  | — |
Costa Rica | 180,480 |  |  | 146,200 |  |  | 89,442 |  |  | 56,876 |  |  | 1,984 |  |  | — |  |  | — |  |  | — |
Dominican Republic | 275,423 |  |  | 202,433 |  |  | 16,499 |  |  | 16,500 |  |  | 4,947 |  |  | — |  |  | — |  |  | — |
Ecuador | 37,446 |  |  | 45,511 |  |  | 281,075 |  |  | 165,275 |  |  | — |  |  | — |  |  | — |  |  | — |
El Salvador | 73,500 |  |  | 40,000 |  |  | 6,867 |  |  | 1,087 |  |  | — |  |  | — |  |  | — |  |  | — |
France | 179,491 |  |  | 150,810 |  |  | 62,172 |  |  | 84,862 |  |  | — |  |  | — |  |  | — |  |  | — |
Germany | — |  |  | — |  |  | 7,000 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Guatemala | 431,543 |  |  | 281,485 |  |  | 58,145 |  |  | 43,845 |  |  | 3,051 |  |  | — |  |  | — |  |  | — |
Honduras | 32,192 |  |  | 10,199 |  |  | 18,286 |  |  | 345 |  |  | — |  |  | — |  |  | — |  |  | — |
Hong Kong | 17,600 |  |  | 1,800 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Israel | — |  |  | — |  |  | — |  |  | — |  |  | 4,968 |  |  | — |  |  | — |  |  | — |
Jamaica | 5,215 |  |  | 23,274 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Luxembourg | 117,700 |  |  | 50,000 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Mexico | 726,922 |  |  | 607,099 |  |  | 4,000 |  |  | 4,995 |  |  | 55,620 |  |  | 43,910 |  |  | — |  |  | — |
Panama | 203,115 |  |  | 241,097 |  |  | 66,973 |  |  | 61,435 |  |  | 22,807 |  |  | 10,399 |  |  | — |  |  | — |
Paraguay | 98,112 |  |  | 100,816 |  |  | 9,430 |  |  | 11,800 |  |  | — |  |  | — |  |  | — |  |  | — |
Peru | 343,485 |  |  | 272,752 |  |  | 65,091 |  |  | 47,245 |  |  | 64,134 |  |  | 26,647 |  |  | — |  |  | — |
Singapore | 58,117 |  |  | 75,095 |  |  | 10,750 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Switzerland | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Trinidad and Tobago | 140,537 |  |  | 165,995 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
United States of America | 19,000 |  |  | 113,816 |  |  | — |  |  | — |  |  | 207,076 |  |  | — |  |  | 88,170 |  |  | 89,794 |
United Kingdom | 42,700 |  |  | 10,409 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Uruguay | 134,816 |  |  | — |  |  | 13,999 |  |  | 33,955 |  |  | — |  |  | — |  |  | — |  |  | — |
Multilateral | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 105,318 |  |  | 112,582 |
Total | 5,734,605 |  |  | 4,911,397 |  |  | 805,274 |  |  | 639,264 |  |  | 631,123 |  |  | 164,074 |  |  | 193,488 |  |  | 231,348 |
Schedule of Bank's liquid assets along with average information | The following table details the Bank’s liquidity ratios, described in the previous paragraph, as of December 31, 2021 and 2020, respectively:
| December 31, 2021 |  | December 31, 2020
At the end of the year | 199.19 | % |  | 249.42 | %
Year average | 122.80 | % |  | 115.98 | %
Maximum of the year | 306.82 | % |  | 249.42 | %
Minimun of the year | 66.43 | % |  | 53.26 | %
Schedule of Bank's liquid assets by geographical location | The following table includes the Bank’s liquid assets by country risk:
| December 31, 2021 |  | December 31, 2020
(in millions of USD dollars) | Cash and due from banks |  | Securities FVOCI |  | Total |  | Cash and due from banks |  | Securities FVOCI |  | Total
United State of America | 1,203 |  |  | 89 |  |  | 1,292 |  |  | 690 |  |  | 90 |  |  | 780 |
Other O.E.C.D countries | — |  |  | — |  |  | — |  |  | 100 |  |  | — |  |  | 100 |
Latin America | 8 |  |  | — |  |  | 8 |  |  | 6 |  |  | — |  |  | 6 |
Other countries | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Multilateral | — |  |  | 105 |  |  | 105 |  |  | 50 |  |  | 112 |  |  | 162 |
Total | 1,211 |  |  | 194 |  |  | 1,405 |  |  | 846 |  |  | 202 |  |  | 1,048 |
Schedule of Bank's demand deposits ratio on total deposits | The following table includes the Bank’s demand deposits from customers and its ratio to total deposits from customers:
| December 31, 2021 |  | December 31, 2020
(in millions of USD dollars) |  |  |
Demand and "overnight" deposits | 362 |  |  | 171 |
Demand and "overnight" deposits to total deposits | 11.92 | % |  | 5.44 | %
Schedule of Bank's demand deposits from customers is satisfied by the Bank's liquid assets | The liquidity requirements resulting from the Bank’s demand deposits from customers is satisfied by the Bank’s liquid assets as follows:
(in millions of USD dollars) | December 31, 2021 |  | December 31, 2020
Total liquid assets | 1,404 |  |  | 1,048 |
Total assets to total liabilities | 46.26 | % |  | 33.40 | %
Total liquid assets in the Federal Reserve of the United States of America | 85.52 | % |  | 65.68 | %
Schedule of Bank's loans and securities short-term portfolio with maturity within one year | The following table includes the carrying amount for the Bank’s loans and securities short-term portfolio with maturity within one year based on their original contractual term together with its average remaining term:
(in millions of USD dollars) | December 31, 2021 |  | December 31, 2020
Loan portfolio at amortized cost and investment portfolio less than/equal to 1 year according to its original terms | 3,426 |  |  | 3,114 |
Average term (days) | 191 |  | 195
Schedule of Bank's loans and securities short-term portfolio with medium term maturity | The following table includes the carrying amount for the Bank’s loans and securities medium term portfolio with maturity over one year based on their original contractual terms together with their average remaining term:
(in millions of USD dollars) | December 31, 2021 |  | December 31, 2020
Loan portfolio at amortized cost and investment portfolio greater than/equal to 1 year according to its original terms | 3,134 |  |  | 2,193 |
Average term (days) | 1365 |  | 1382
Schedule of future cash flows between assets and liabilities grouped by its remaining maturity with respect to the contractual maturity | The following table details the future undiscounted cash flows of financial assets and liabilities grouped by their remaining maturity with respect to the contractual maturity:
|  | December 31, 2021
Description |  | Up to 3 months |  | 3 to 6 months |  | 6 months to 1 year |  | 1 to 5 years |  | More than 5 Years |  | Gross inflows (outflows) |  | Carrying amount
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and due from banks |  | 1,253,052 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,253,052 |  |  | 1,253,052 |
Securities and other financial assets, net |  | 36,984 |  |  | 44,743 |  |  | 179,219 |  |  | 599,397 |  |  | — |  |  | 860,343 |  |  | 831,913 |
Loans, net |  | 1,936,018 |  |  | 1,040,765 |  |  | 1,349,286 |  |  | 1,568,311 |  |  | 151,529 |  |  | 6,045,909 |  |  | 5,713,022 |
Derivative financial instruments - assets |  | 2,791 |  |  | 3,592 |  |  | — |  |  | 4,422 |  |  | — |  |  | 10,805 |  |  | 10,805 |
Total |  | 3,228,845 |  |  | 1,089,100 |  |  | 1,528,505 |  |  | 2,172,130 |  |  | 151,529 |  |  | 8,170,109 |  |  | 7,808,792 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits |  | (2,641,995) |  |  | (310,326) |  |  | (79,034) |  |  | (8,090) |  |  | — |  |  | (3,039,445) |  |  | (3,037,457) |
Securities sold under repurchase agreements |  | (333,031) |  |  | (60,218) |  |  | — |  |  | (35,515) |  |  | — |  |  | (428,764) |  |  | (427,497) |
Borrowings and debt, net |  | (583,283) |  |  | (726,715) |  |  | (802,911) |  |  | (1,348,323) |  |  | (16,536) |  |  | (3,477,768) |  |  | (3,333,233) |
Derivative financial instruments - liabilities |  | — |  |  | (4,821) |  |  | (7,773) |  |  | (15,145) |  |  | (716) |  |  | (28,455) |  |  | (28,455) |
Total |  | (3,558,309) |  |  | (1,102,080) |  |  | (889,718) |  |  | (1,407,073) |  |  | (17,252) |  |  | (6,974,432) |  |  | (6,826,642) |
Contingencies |  |  |  |  |  |  |  |  |  |  |  |  |  |
Confirmed lettes of credit |  | 149,672 |  |  | 62,123 |  |  | 2,435 |  |  | — |  |  | — |  |  | 214,230 |  |  | 214,230 |
Stand-by letters of credit and guarantees |  | 75,245 |  |  | 118,287 |  |  | 54,375 |  |  | 20,289 |  |  | — |  |  | 268,196 |  |  | 268,196 |
Credit commitments |  | 35,000 |  |  | — |  |  | 45,000 |  |  | 41,333 |  |  | — |  |  | 121,333 |  |  | 121,333 |
Total |  | 259,917 |  |  | 180,410 |  |  | 101,810 |  |  | 61,622 |  |  | — |  |  | 603,759 |  |  | 603,759 |
Net position |  | (589,381) |  |  | (193,390) |  |  | 536,977 |  |  | 703,435 |  |  | 134,277 |  |  | 591,918 |  |  | 378,391 |
B. Liquidity risk (continued) ii. Maturity analysis for financial liabilities and financial assets (continued)
|  | December 31, 2020
Description |  | Up to 3 months |  | 3 to 6 months |  | 6 months to 1 year |  | 1 to 5 years |  | More than 5 Years |  | Gross inflows (outflows) |  | Carrying amount
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and due from banks |  | 863,831 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 863,831 |  |  | 863,812 |
Securities and other financial assets, net |  | 11,541 |  |  | 20,961 |  |  | 60,311 |  |  | 312,027 |  |  | — |  |  | 404,840 |  |  | 398,068 |
Loans, net |  | 1,712,049 |  |  | 998,923 |  |  | 1,255,069 |  |  | 293,489 |  |  | 1,156,625 |  |  | 5,416,155 |  |  | 4,896,647 |
Derivative financial instruments - assets |  | — |  |  | 119 |  |  | 129 |  |  | 26,691 |  |  | 839 |  |  | 27,778 |  |  | 27,778 |
Total |  | 2,587,421 |  |  | 1,020,003 |  |  | 1,315,509 |  |  | 632,207 |  |  | 1,157,464 |  |  | 6,712,604 |  |  | 6,186,305 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits |  | (2,678,292) |  |  | (166,832) |  |  | (293,306) |  |  | (6,638) |  |  | — |  |  | (3,145,068) |  |  | (3,140,875) |
Securities sold under repurchase agreements |  | — |  |  | (5,784) |  |  | (4,977) |  |  | — |  |  | — |  |  | (10,761) |  |  | (10,663) |
Borrowings and debt, net |  | (166,034) |  |  | (60,816) |  |  | (456,932) |  |  | (1,425,806) |  |  | (24,922) |  |  | (2,134,510) |  |  | (1,994,245) |
Derivative financial instruments - liabilities |  | (3,020) |  |  | (1,081) |  |  | (71) |  |  | (5,039) |  |  | — |  |  | (9,211) |  |  | (9,211) |
Total |  | (2,847,346) |  |  | (234,513) |  |  | (755,286) |  |  | (1,437,483) |  |  | (24,922) |  |  | (5,299,550) |  |  | (5,154,994) |
Contingencies |  |  |  |  |  |  |  |  |  |  |  |  |  |
Confirmed lettes of credit |  | 167,301 |  |  | 29,466 |  |  | 20,015 |  |  | — |  |  | — |  |  | 216,782 |  |  | 216,782 |
Stand-by letters of credit and guarantees |  | 35,041 |  |  | 106,943 |  |  | 55,963 |  |  | 12,550 |  |  | — |  |  | 210,497 |  |  | 210,497 |
Credit commitments |  | — |  |  | — |  |  | 4,286 |  |  | 133,333 |  |  | — |  |  | 137,619 |  |  | 137,619 |
Total |  | 202,342 |  |  | 136,409 |  |  | 80,264 |  |  | 145,883 |  |  | — |  |  | 564,898 |  |  | 564,898 |
Net position |  | (462,267) |  |  | 649,081 |  |  | 479,959 |  |  | (951,159) |  |  | 1,132,542 |  |  | 848,156 |  |  | 466,413 |
Schedule of liquidity reserves | The following table sets out the components of the Banks’s liquidity reserves:
| December 31, 2021 |  | December 31, 2020
| Amount |  | Fair Value |  | Amount |  | Fair Value
Balances with Federal Reserve of the United States of America | 1,201,101 |  |  | 1,201,101 |  |  | 688,612 |  |  | 688,612 |
Cash and balances with other bank (1) | 9,900 |  |  | 9,900 |  |  | 157,396 |  |  | 157,396 |
Total Liquidity reserves | 1,211,001 |  |  | 1,211,001 |  |  | 846,008 |  |  | 846,008 |
Schedule of financial assets available to support future funding | The following table sets out the Bank’s financial assets available to support future funding :
| December 31, 2021
| Guaranteed |  | Available as collateral
Cash and due from banks | 42,051 |  |  | 1,211,001 |
Notional of investment securities | 447,588 |  |  | 343,319 |
Loans at amortized cost | — |  |  | 5,734,605 |
Total assets | 489,639 |  |  | 7,288,925 |
| December 31, 2020
| Guaranteed |  | Available as collateral
Cash and due from banks | 17,804 |  |  | 846,008 |
Notional of investment securities | 11,450 |  |  | 371,900 |
Loans at amortized cost | — |  |  | 4,911,397 |
Total assets | 29,254 |  |  | 6,129,305 |
Schedule of Bank's interest rate gap position | The following is a summary of the Bank’s interest rate gap position for the financial assets and liabilities based on their next repricing date:
|  | December 31, 2021
Description |  | Up to 3 months |  | 3 to 6 months |  | 6 months to 1 year |  | 1 to 5 years |  | More than 5 years |  | Non interest rate risk |  | Total
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and due from banks |  | 1,249,545 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 3,507 |  |  | 1,253,052 |
Securities and other financial assets |  | 26,693 |  |  | 28,906 |  |  | 121,834 |  |  | 647,178 |  |  | — |  |  | — |  |  | 824,611 |
Loans |  | 2,510,544 |  |  | 1,593,471 |  |  | 1,378,589 |  |  | 246,721 |  |  | 10,593 |  |  | — |  |  | 5,739,918 |
Total assets |  | 3,786,782 |  |  | 1,622,377 |  |  | 1,500,423 |  |  | 893,899 |  |  | 10,593 |  |  | 3,507 |  |  | 7,817,581 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |
Demand deposits and time deposits |  | (2,634,776) |  |  | (309,601) |  |  | (78,439) |  |  | (8,000) |  |  | — |  |  | (5,412) |  |  | (3,036,228) |
Securities sold under repurchase agreements |  | (332,417) |  |  | (60,052) |  |  | — |  |  | (35,028) |  |  | — |  |  | — |  |  | (427,497) |
Borrowings and debt |  | (1,265,779) |  |  | (653,454) |  |  | (452,621) |  |  | (933,671) |  |  | (16,386) |  |  | — |  |  | (3,321,911) |
Total liabilities |  | (4,232,972) |  |  | (1,023,107) |  |  | (531,060) |  |  | (976,699) |  |  | (16,386) |  |  | (5,412) |  |  | (6,785,636) |
Net effect of derivative financial instruments held for interest risk management |  | 2,791 |  |  | (1,230) |  |  | (7,773) |  |  | (10,722) |  |  | (716) |  |  | — |  |  | (17,650) |
Total interest rate sensitivity |  | (443,399) |  |  | 598,040 |  |  | 961,590 |  |  | (93,522) |  |  | (6,509) |  |  | (1,905) |  |  | 1,014,295 |
C. Market risk (continued) i. Interest rate risk (continued)
|  | December 31, 2020
Description |  | Up to 3 months |  | 3 to 6 months |  | 6 months to 1 year |  | 1 to 5 years |  | More than 5 years |  | Non interest rate risk |  | Total
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and due from banks |  | 859,481 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 4,331 |  |  | 863,812 |
Securities and other financial assets |  | 9,554 |  |  | 9,139 |  |  | 55,960 |  |  | 320,769 |  |  | — |  |  | — |  |  | 395,422 |
Loans |  | 3,468,477 |  |  | 895,794 |  |  | 434,813 |  |  | 117,262 |  |  | — |  |  | — |  |  | 4,916,346 |
Total assets |  | 4,337,512 |  |  | 904,933 |  |  | 490,773 |  |  | 438,031 |  |  | — |  |  | 4,331 |  |  | 6,175,580 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |
Demand deposits and time deposits |  | (2,675,867) |  |  | (166,317) |  |  | (290,000) |  |  | (6,500) |  |  | — |  |  | (216) |  |  | (3,138,900) |
Securities sold under repurchase agreements |  | — |  |  | (5,728) |  |  | (4,935) |  |  | — |  |  | — |  |  | — |  |  | (10,663) |
Borrowings and debt |  | (1,103,703) |  |  | (45,859) |  |  | (16,511) |  |  | (794,522) |  |  | (24,475) |  |  | — |  |  | (1,985,070) |
Total liabilities |  | (3,779,570) |  |  | (217,904) |  |  | (311,446) |  |  | (801,022) |  |  | (24,475) |  |  | (216) |  |  | (5,134,633) |
Net effect of derivative financial instruments held for interest risk management |  | (3) |  |  | (373) |  |  | 58 |  |  | 15,982 |  |  | 839 |  |  | — |  |  | 16,503 |
Total interest rate sensitivity |  | 557,939 |  |  | 686,656 |  |  | 179,385 |  |  | (347,009) |  |  | (23,636) |  |  | 4,115 |  |  | 1,057,450 |
Derivative financial instruments used for hedging |
Disclosure of nature and extent of risks arising from financial instruments [line items] |
Schedule of offsetting financial assets and liabilities |
December 31, 2021
|  |  |  | Gross amounts offset in the consolidated statement of financial position |  | Net amount of assets presented in the consolidated statement of financial position |  | Gross amounts not offset in the consolidated statement of financial position |  |
Description |  | Gross amounts of assets |  |  |  | Financial instruments |  | Cash collateral received |  | Net Amount
Derivative financial instruments used for hedging |  | 10,805 |  |  | — |  |  | 10,805 |  |  | — |  |  | (5,030) |  |  | 5,775 |
Total |  | 10,805 |  |  | — |  |  | 10,805 |  |  | — |  |  | (5,030) |  |  | 5,775 |
December 31, 2020
|  |  |  | Gross amounts offset in the consolidated statement of financial position |  | Net amount of assets presented in the consolidated statement of financial position |  | Gross amounts not offset in the consolidated statement of financial position |  |
Description |  | Gross amounts of assets |  |  |  | Financial instruments |  | Cash collateral received |  | Net Amount
Derivative financial instruments used for hedging |  | 27,778 |  |  | — |  |  | 27,778 |  |  | — |  |  | (24,720) |  |  | 3,058 |
Total |  | 27,778 |  |  | — |  |  | 27,778 |  |  | — |  |  | (24,720) |  |  | 3,058 |
Securities sold under repurchase agreements |
Disclosure of nature and extent of risks arising from financial instruments [line items] |
Schedule of offsetting financial assets and liabilities |
December 31, 2021
|  |  |  | Gross amounts offset in the consolidated statement of financial position |  | Net amount of assets presented in the consolidated statement of financial position |  | Gross amounts not offset in the consolidated statement of financial position |  |
Description |  | Gross amounts of assets |  |  |  | Financial instruments |  | Cash collateral received |  | Net Amount
Securities sold under repurchase agreements |  | (427,497) |  |  | — |  |  | (427,497) |  |  | 498,274 |  |  | 3,110 |  |  | 73,887 |
Derivative financial instruments used for hedging |  | (28,455) |  |  | — |  |  | (28,455) |  |  | — |  |  | 28,942 |  |  | 487 |
Total |  | (455,952) |  |  | — |  |  | (455,952) |  |  | 498,274 |  |  | 32,052 |  |  | 74,374 |
December 31, 2020
|  |  |  | Gross amounts offset in the consolidated statement of financial position |  | Net amount of assets presented in the consolidated statement of financial position |  | Gross amounts not offset in the consolidated statement of financial position |  |
Description |  | Gross amounts of assets |  |  |  | Financial instruments |  | Cash collateral received |  | Net Amount
Securities sold under repurchase agreements |  | (10,663) |  |  | — |  |  | (10,663) |  |  | 11,998 |  |  | 18 |  |  | 1,353 |
Derivative financial instruments used for hedging |  | (9,211) |  |  | — |  |  | (9,211) |  |  | — |  |  | 7,786 |  |  | (1,425) |
Total |  | (19,874) |  |  | — |  |  | (19,874) |  |  | 11,998 |  |  | 7,804 |  |  | (72) |
Securities at amortized cost |
Disclosure of nature and extent of risks arising from financial instruments [line items] |
Schedule of credit risk exposure | Securities at amortized cost
| December 31, 2021 |  |  |  |
| 12-month DP Ranges |  | Stage 1 |  | Stage 2 |  | Stage 3 |  | Total
Grades 1 - 4 | 0.03 - 0.74 |  | 453,627 |  |  | — |  |  | — |  |  | 453,627 |
Grades 5 - 6 | 0.75 - 3.80 |  | 177,496 |  |  | — |  |  | — |  |  | 177,496 |
|  |  | 631,123 |  |  | — |  |  | — |  |  | 631,123 |
Loss allowance |  |  | (1,790) |  |  | — |  |  | — |  |  | (1,790) |
Total |  |  | 629,333 |  |  | — |  |  | — |  |  | 629,333 |
| December 31, 2020 |  |  |  |
| 12-month PD Ranges |  | Stage 1 |  | Stage 2 |  | Stage 3 |  | Total
Grades 1 - 4 | 0.03 - 0.74 |  | 108,505 |  |  | — |  |  | — |  |  | 108,505 |
Grades 5 - 6 | 0.75 - 3.95 |  | 50,562 |  |  | 5,007 |  |  | — |  |  | 55,569 |
|  |  | 159,067 |  |  | 5,007 |  |  | — |  |  | 164,074 |
Loss allowance |  |  | (462) |  |  | (33) |  |  | — |  |  | (495) |
Total |  |  | 158,605 |  |  | 4,974 |  |  | — |  |  | 163,579 |
Schedule of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments | Securities at amortized cost
| Stage 1 |  | Stage 2 |  | Stage 3 |  | Total
Allowance for expected credit losses as of December 31, 2020 | 462 |  |  | 33 |  |  | — |  |  | 495 |
Net effect of changes in allowance for expected credit losses | (20) |  |  | — |  |  | — |  |  | (20) |
Financial instruments that have been derecognized during the year | (160) |  |  | (33) |  |  | — |  |  | (193) |
New instruments originated or purchased | 1,508 |  |  | — |  |  | — |  |  | 1,508 |
Allowance for expected credit losses as of December 31, 2021 | 1,790 |  |  | — |  |  | — |  |  | 1,790 |
A. Credit risk (continued)
| Stage 1 |  | Stage 2 |  | Stage 3 |  | Total
Allowance for expected credit losses as of December 31, 2019 | 103 |  |  | 10 |  |  | — |  |  | 113 |
Transfer to lifetime expected credit losses | (10) |  |  | 10 |  |  | — |  |  | — |
Net effect of changes in allowance for expected credit losses | 15 |  |  | 23 |  |  | — |  |  | 38 |
Financial instruments that have been derecognized during the year | (76) |  |  | (10) |  |  | — |  |  | (86) |
New instruments originated or purchased | 430 |  |  | — |  |  | — |  |  | 430 |
Allowance for expected credit losses as of December 31, 2020 | 462 |  |  | 33 |  |  | — |  |  | 495 |
FVOCI |
Disclosure of nature and extent of risks arising from financial instruments [line items] |
Schedule of credit risk exposure | Securities at fair value through other comprehensive income (FVOCI)
| December 31, 2021 |  |  |  |
| 12-month PD Ranges |  | Stage 1 |  | Stage 2 |  | Stage 3 |  | Total
Grades 1 - 4 | 0.03 - 0.74 |  | 193,488 |  |  | — |  |  | — |  |  | 193,488 |
|  |  | 193,488 |  |  | — |  |  | — |  |  | 193,488 |
Loss allowance |  |  | (26) |  |  | — |  |  | — |  |  | (26) |
Total |  |  | 193,462 |  |  | — |  |  | — |  |  | 193,462 |
| December 31, 2020 |  |  |  |
| 12-month PD Ranges |  | Stage 1 |  | Stage 2 |  | Stage 3 |  | Total
Grades 1 - 4 | 0.03 - 0.74 |  | 231,348 |  |  | — |  |  | — |  |  | 231,348 |
|  |  | 231,348 |  |  | — |  |  | — |  |  | 231,348 |
Loss allowance |  |  | (43) |  |  | — |  |  | — |  |  | (43) |
Total |  |  | 231,305 |  |  | — |  |  | — |  |  | 231,305 |
Schedule of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments | Securities at fair value through other comprehensive income (FVOCI)
| Stage 1 |  | Stage 2 |  | Stage 3 |  | Total
Allowance for expected credit losses as of December 31, 2020 | 43 |  |  | — |  |  | — |  |  | 43 |
Financial instruments that have been derecognized during the year | (17) |  |  | — |  |  | — |  |  | (17) |
Allowance for expected credit losses as of December 31, 2021 | 26 |  |  | — |  |  | — |  |  | 26 |
Securities at fair value through other comprehensive income (FVOCI)
| Stage 1 |  | Stage 2 |  | Stage 3 |  | Total
Allowance for expected credit losses as of December 31, 2019 | — |  |  | — |  |  | — |  |  | — |
New instruments originated or purchased | 43 |  |  | — |  |  | — |  |  | 43 |
Allowance for expected credit losses as of December 31, 2020 | 43 |  |  | — |  |  | — |  |  | 43 |
Loans at amortized cost |
Disclosure of nature and extent of risks arising from financial instruments [line items] |
Schedule of credit risk exposure | Loans at amortized cost, outstanding balance
| December 31, 2021 |  |  |  |
| PD Ranges |  | Stage 1 |  | Stage 2 |  | Stage 3 |  | Total
Grades 1 - 4 | 0.03 - 0.74 |  | 3,016,938 |  |  | — |  |  | — |  |  | 3,016,938 |
Grades 5 - 6 | 0.75 - 3.80 |  | 2,466,348 |  |  | 57,799 |  |  | — |  |  | 2,524,147 |
Grades 7 - 8 | 3.81 - 34.51 |  | 99,807 |  |  | 83,120 |  |  | 10,593 |  |  | 193,520 |
Grades 9 - 10 | 34.52 - 100 |  | — |  |  | — |  |  | — |  |  | — |
|  |  | 5,583,093 |  |  | 140,919 |  |  | 10,593 |  |  | 5,734,605 |
Loss allowance |  |  | (20,115) |  |  | (16,175) |  |  | (5,186) |  |  | (41,476) |
Total |  |  | 5,562,978 |  |  | 124,744 |  |  | 5,407 |  |  | 5,693,129 |
| December 31, 2020 |  |  |  |
| PD Ranges |  | Stage 1 |  | Stage 2 |  | Stage 3 |  | Total
Grades 1 - 4 | 0.03 - 0.74 |  | 2,582,794 |  |  | — |  |  | — |  |  | 2,582,794 |
Grades 5 - 6 | 0.75 - 3.95 |  | 1,928,142 |  |  | 167,996 |  |  | — |  |  | 2,096,138 |
Grades 7 - 8 | 3.96 - 30.67 |  | 102,532 |  |  | 119,340 |  |  | 10,593 |  |  | 232,465 |
Grades 9 - 10 | 30.68 - 100 |  | — |  |  | — |  |  | — |  |  | — |
|  |  | 4,613,468 |  |  | 287,336 |  |  | 10,593 |  |  | 4,911,397 |
Loss allowance |  |  | (16,661) |  |  | (19,916) |  |  | (4,588) |  |  | (41,165) |
Total |  |  | 4,596,807 |  |  | 267,420 |  |  | 6,005 |  |  | 4,870,232 |
Schedule of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments | Loans at amortized cost
| Stage 1 |  | Stage 2 |  | Stage 3 |  | Total
Allowance for expected credit losses as of December 31, 2020 | 16,661 |  |  | 19,916 |  |  | 4,588 |  |  | 41,165 |
Transfer to lifetime expected credit losses | (158) |  |  | 158 |  |  | — |  |  | — |
Transfer to 12-month expected credit losses | 243 |  |  | (243) |  |  | — |  |  | — |
Net effect of changes in allowance for expected credit losses | (874) |  |  | (2,041) |  |  | 438 |  |  | (2,477) |
Financial instruments that have been derecognized during the year | (13,100) |  |  | (1,615) |  |  | — |  |  | (14,715) |
New instruments originated or purchased | 17,343 |  |  | — |  |  | — |  |  | 17,343 |
Write-offs | — |  |  | — |  |  | — |  |  | — |
Recoveries | — |  |  | — |  |  | 160 |  |  | 160 |
Allowance for expected credit losses as of December 31, 2021 | 20,115 |  |  | 16,175 |  |  | 5,186 |  |  | 41,476 |
| Stage 1 |  | Stage 2 |  | Stage 3 |  | Total
Allowance for expected credit losses as of December 31, 2019 | 28,892 |  |  | 15,842 |  |  | 54,573 |  |  | 99,307 |
Transfer to lifetime expected credit losses | (886) |  |  | 886 |  |  | — |  |  | — |
Transfer to credit-impaired financial instruments | — |  |  | (2,100) |  |  | 2,100 |  |  | — |
Net effect of changes in allowance for expected credit losses | 134 |  |  | 13,443 |  |  | (118) |  |  | 13,459 |
Financial instruments that have been derecognized during the year | (24,307) |  |  | (3,729) |  |  | — |  |  | (28,036) |
New instruments originated or purchased | 12,828 |  |  | — |  |  | — |  |  | 12,828 |
Write-offs | — |  |  | (4,426) |  |  | (52,106) |  |  | (56,532) |
Recoveries | — |  |  | — |  |  | 139 |  |  | 139 |
Allowance for expected credit losses as of December 31, 2020 | 16,661 |  |  | 19,916 |  |  | 4,588 |  |  | 41,165 |
Loan commitments and financial guarantee contracts |
Disclosure of nature and extent of risks arising from financial instruments [line items] |
Schedule of credit risk exposure | Loan commitments, financial guarantees issued and customers’ liabilities under acceptances
| December 31, 2021 |  |  |  |
| 12-month PD Ranges |  | Stage 1 |  | Stage 2 |  | Stage 3 |  | Total
Commitments and contingencies |  |  |  |  |  |  |  |  |
Grades 1 - 4 | 0.03 - 0.74 |  | 257,831 |  |  | — |  |  | — |  |  | 257,831 |
Grades 5 - 6 | 0.75 - 3.80 |  | 172,993 |  |  | 21,400 |  |  | — |  |  | 194,393 |
Grades 7 - 8 | 3.81 - 34.51 |  | 151,535 |  |  | — |  |  | — |  |  | 151,535 |
|  |  | 582,359 |  |  | 21,400 |  |  | — |  |  | 603,759 |
Customers' liabilities under acceptances |  |  |  |  |  |  |  |  |
Grades 1 - 4 | 0.03 - 0.74 |  | 54,185 |  |  | — |  |  | — |  |  | 54,185 |
Grades 5 - 6 | 0.75 - 3.80 |  | 6,903 |  |  | — |  |  | — |  |  | 6,903 |
Grades 7 - 8 | 3.81 - 34.51 |  | 140,427 |  |  | — |  |  | — |  |  | 140,427 |
|  |  | 201,515 |  |  | — |  |  | — |  |  | 201,515 |
|  |  | 783,874 |  |  | 21,400 |  |  | — |  |  | 805,274 |
Loss allowance |  |  | (3,472) |  |  | (331) |  |  | — |  |  | (3,803) |
Total |  |  | 780,402 |  |  | 21,069 |  |  | — |  |  | 801,471 |
| December 31, 2020 |  |  |  |
| 12-month PD Ranges |  | Stage 1 |  | Stage 2 |  | Stage 3 |  | Total
Commitments and contingencies |  |  |  |  |  |  |  |  |
Grades 1 - 4 | 0.03 - 0.74 |  | 245,927 |  |  | — |  |  | — |  |  | 245,927 |
Grades 5 - 6 | 0.75 - 3.95 |  | 198,638 |  |  | 38,446 |  |  | — |  |  | 237,084 |
Grades 7 - 8 | 3.96 - 30.67 |  | 81,887 |  |  | — |  |  | — |  |  | 81,887 |
|  |  | 526,452 |  |  | 38,446 |  |  | — |  |  | 564,898 |
Customers' liabilities under acceptances |  |  |  |  |  |  |  |  |
Grades 1 - 4 | 0.03 - 0.74 |  | 1,498 |  |  | — |  |  | — |  |  | 1,498 |
Grades 5 - 6 | 0.75 - 3.95 |  | 723 |  |  | — |  |  | — |  |  | 723 |
Grades 7 - 8 | 3.96 - 30.67 |  | 72,145 |  |  | — |  |  | — |  |  | 72,145 |
|  |  | 74,366 |  |  | — |  |  | — |  |  | 74,366 |
|  |  | 600,818 |  |  | 38,446 |  |  | — |  |  | 639,264 |
Loss allowance |  |  | (2,426) |  |  | (478) |  |  | — |  |  | (2,904) |
Total |  |  | 598,392 |  |  | 37,968 |  |  | — |  |  | 636,360 |
Schedule of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments |
| Stage 1 |  | Stage 2 |  | Stage 3 |  | Total
Allowance for expected credit losses as of December 31, 2020 | 2,426 |  |  | 478 |  |  | — |  |  | 2,904 |
Transfer to lifetime expected credit losses | (53) |  |  | 53 |  |  | — |  |  | — |
Transfer to 12-month expected credit losses | 87 |  |  | (87) |  |  | — |  |  | — |
Net effect of changes in reserve for expected credit losses | (96) |  |  | 42 |  |  | — |  |  | (54) |
Financial instruments that have been derecognized during the year | (1,793) |  |  | (155) |  |  | — |  |  | (1,948) |
New instruments originated or purchased | 2,901 |  |  | — |  |  | — |  |  | 2,901 |
Allowance for expected credit losses as of December 31, 2021 | 3,472 |  |  | 331 |  |  | — |  |  | 3,803 |
| Stage 1 |  | Stage 2 |  | Stage 3 |  | Total
Allowance for expected credit losses as of December 31, 2019 | 2,683 |  |  | 361 |  |  | — |  |  | 3,044 |
Transfer to lifetime expected credit losses | (96) |  |  | 96 |  |  | — |  |  | — |
Net effect of changes in reserve for expected credit losses | 37 |  |  | 42 |  |  | — |  |  | 79 |
Financial instruments that have been derecognized during the year | (1,864) |  |  | (21) |  |  | — |  |  | (1,885) |
New instruments originated or purchased | 1,666 |  |  | — |  |  | — |  |  | 1,666 |
Allowance for expected credit losses as of December 31, 2020 | 2,426 |  |  | 478 |  |  | — |  |  | 2,904 |
Foreign exchange risk |
Disclosure of nature and extent of risks arising from financial instruments [line items] |
Schedule of sensitivity analysis of fair value due to change in interest rate. | Following is an analysis of the Bank’s sensitivity to the most likely increase or decrease in market interest rates at the reporting date, assuming no asymmetrical movements in yield curves and a constant financial position:
| Change in interest rate |  | Effect on profit or loss |  | Effect on equity
December 31, 2021 | +50 bps |  | (45) |  |  | 17,232 |
| -50 bps |  | (2,297) |  |  | 10,772 |
December 31, 2020 | +50 bps |  | 1,182 |  |  | 16,618 |
| -50 bps |  | (5,161) |  |  | 107 |
Schedule of risk arising from financial instruments | The following table presents the maximum exposure amount in foreign currency of the Bank’s carrying amount of total assets and liabilities, excluding derivative financial assets and liabilities, based on their fair value.
| December 31, 2021
| Brazilian Real |  | European Euro |  | Japanese Yen |  | Colombian Peso |  | Mexican Peso |  | Other Currencies (1) |  | Total
Exchance rate | 5.57 |  |  | 1.14 |  |  | 115.15 |  |  | 4,072.94 |  |  | 20.46 |  |  |  |  |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and due from banks | — |  |  | 7 |  |  | 1 |  |  | 21 |  |  | 1,531 |  |  | 34 |  |  | 1,594 |
Loans | — |  |  | — |  |  | — |  |  | — |  |  | 222,747 |  |  | — |  |  | 222,747 |
Total Assets | — |  |  | 7 |  |  | 1 |  |  | 21 |  |  | 224,278 |  |  | 34 |  |  | 224,341 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |
Borrowings and debt | — |  |  | — |  |  | — |  |  | — |  |  | (224,384) |  |  | — |  |  | (224,384) |
Total liabilities | — |  |  | — |  |  | — |  |  | — |  |  | (224,384) |  |  | — |  |  | (224,384) |
Net currency position | — |  |  | 7 |  |  | 1 |  |  | 21 |  |  | (106) |  |  | 34 |  |  | (43) |
(1)It includes other currencies such as: Argentine pesos, Australian dollar, Swiss franc, Sterling pound, Peruvian soles, and Chinese renminbi. C. Market risk (continued) iii. Foreign exchange risk (continued)
| December 31, 2020
| Brazilian Real |  | European Euro |  | Japanese Yen |  | Colombian Peso |  | Mexican Peso |  | Other Currencies (1) |  | Total
Exchance rate | 5.19 |  |  | 1.22 |  |  | 103.23 |  |  | 3,430.19 |  |  | 19.92 |  |  |  |  |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and due from banks | 81 |  |  | 13 |  |  | 1 |  |  | 20 |  |  | 1,615 |  |  | 80 |  |  | 1,810 |
Loans | — |  |  | — |  |  | — |  |  | — |  |  | 182,395 |  |  | — |  |  | 182,395 |
Total Assets | 81 |  |  | 13 |  |  | 1 |  |  | 20 |  |  | 184,010 |  |  | 80 |  |  | 184,205 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |
Borrowings and debt | — |  |  | — |  |  | — |  |  | — |  |  | (183,863) |  |  | — |  |  | (183,863) |
Total liabilities | — |  |  | — |  |  | — |  |  | — |  |  | (183,863) |  |  | — |  |  | (183,863) |
Net currency position | 81 |  |  | 13 |  |  | 1 |  |  | 20 |  |  | 147 |  |  | 80 |  |  | 342 |
(1)It includes other currencies such as: Argentine pesos, Australian dollar, Swiss franc, Sterling pound, Peruvian soles, and Chinese renminbi.

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