<SEC-DOCUMENT>0001628280-22-012305.txt : 20220504
<SEC-HEADER>0001628280-22-012305.hdr.sgml : 20220504
<ACCEPTANCE-DATETIME>20220504163038
ACCESSION NUMBER:		0001628280-22-012305
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20220331
FILED AS OF DATE:		20220504
DATE AS OF CHANGE:		20220504

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:		22891998

	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>a20220504-6kpressrelease1q.htm
<DESCRIPTION>6-K
<TEXT>
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<title>Document</title></head><body><div id="i8b9066e9197e4d18a6773b0928c5c8e4_1"></div><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:14pt;font-weight:700;line-height:100%">UNITED STATES</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:14pt;font-weight:700;line-height:100%"> SECURITIES AND EXCHANGE COMMISSION</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:14pt;font-weight:700;line-height:100%"> Washington, D.C. 20549</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:14pt;font-weight:700;line-height:100%">FORM 6-K</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">REPORT OF FOREIGN PRIVATE ISSUER</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%"> PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%"> SECURITIES EXCHANGE ACT OF 1934</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Short Form of Press Release</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Commission File Number 1-11414</font></div><div><font><br></font></div><div><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:14pt;font-weight:700;line-height:100%">BANCO LATINOAMERICANO DE COMERCIO EXTERIOR, S.A.</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Exact name of Registrant as specified in its Charter)</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:14pt;font-weight:700;line-height:100%">FOREIGN TRADE BANK OF LATIN AMERICA, INC.</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> (Translation of Registrant&#8217;s name into English)</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Business Park Torre V, Ave. La Rotonda, Costa del Este</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">P.O. Box 0819-08730</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Panama City, Republic of Panama</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> (Address of Registrant&#8217;s Principal Executive Offices)</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="margin-bottom:5pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Form 20-F </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">x</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">     Form 40-F __</font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:5pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">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)&#58;</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Yes __ No </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">x </font></div><div style="margin-bottom:5pt;text-align:justify"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">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)&#58;</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Yes __ No </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">x</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:100%">SIGNATURES</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">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></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Date&#58;  May 4, 2022</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">FOREIGN TRADE BANK OF LATIN AMERICA, INC.</font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:400;line-height:100%">(Registrant)</font></div><div><font><br></font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">By&#58;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"> &#47;s&#47; Ana Graciela de M&#233;ndez</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Name&#58; Ana Graciela de M&#233;ndez</font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Title&#58;   CFO</font></div><div style="text-align:justify"><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><div id="i8b9066e9197e4d18a6773b0928c5c8e4_33"></div><hr style="page-break-after:always"><div style="min-height:59.04pt;width:100%"><div><font><br></font></div></div><div style="text-align:center"><font style="color:#1f497d;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:100%">BLADEX ANNOUNCES PROFIT FOR THE FIRST QUARTER 2022 OF $11.1 MILLION, OR $0.31 PER SHARE&#59; ON HIGHER CREDIT PROVISIONS ASSOCIATED TO SOLID PORTFOLIO GROWTH </font></div><div style="text-align:center"><font><br></font></div><div style="width:100.000%"><div style="display:inline-block;vertical-align:top;width:48.376%"><div style="text-align:justify"><font style="color:#1f497d;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">PANAMA CITY, REPUBLIC OF PANAMA, May 4, 2022</font></div><div style="text-align:justify"><font><br></font></div></div><div style="display:inline-block;max-width:3.246%;min-width:2.246%;vertical-align:top"></div><div style="display:inline-block;vertical-align:top;width:48.378%"><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Banco Latinoamericano de Comercio Exterior, S.A.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%"> (NYSE&#58; BLX, &#8220;Bladex&#8221;, or &#8220;the Bank&#8221;), 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 </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">for the First Quarter (&#8220;1Q22&#8221;) ended March 31, 2022</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">.  </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">The consolidated financial information in this document has been prepared in accordance with International Financial Reporting Standards (&#8220;IFRS&#8221;) as issued by the International Accounting Standards Board (&#8220;IASB&#8221;).</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">FINANCIAL SNAPSHOT</font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:6pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:97.402%"><tr><td style="width:1.0%"></td><td style="width:75.150%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.816%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.816%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.818%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(US$ million, except percentages and per share amounts)</font></td><td colspan="3" style="background-color:#44546a;border-left:1pt solid #44546a;border-top:1pt solid #44546a;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#f2f2f2;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1Q22</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4Q21</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1Q21</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #44546a;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#44546a;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Key Income Statement Highlights</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;border-top:1pt solid #44546a;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;border-top:1pt solid #44546a;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;border-top:1pt solid #44546a;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Net Interest Income (&#34;NII&#34;)</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$25.7</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$24.8</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$18.9</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Fees and commissions, net</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$3.9</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$6.2</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$3.0</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Gain (loss) on financial instruments, net</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$0.6</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">($1.3)</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">($0.1)</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Other income, net</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$0.0</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$0.1</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$0.1</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Total revenues</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$30.2</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$29.8</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$22.0</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Provision for credit losses</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">($8.1)</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">($0.2)</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$0.0</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Gain on non-financial assets, net</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$0.0</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$0.7</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$0.0</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Operating expenses</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">($11.0)</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">($10.3)</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">($9.1)</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Profit for the period</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$11.1</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$20.1</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$12.8</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#44546a;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Profitability Ratios</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Earnings per Share (&#34;EPS&#34;) </font><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$0.31</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$0.54</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$0.32</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Return on Average Equity (&#8220;ROAE&#8221;) </font><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(2)</font></div></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4.5%</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">7.9%</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">5.0%</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Return on Average Assets (&#8220;ROAA&#8221;)</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">0.6%</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1.1%</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">0.8%</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Net Interest Margin (&#34;NIM&#34;)</font><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline"> (3)</font></div></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1.32%</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1.42%</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1.24%</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Net Interest Spread (&#34;NIS&#34;) </font><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(4)</font></div></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1.15%</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1.26%</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1.04%</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Efficiency Ratio </font><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(5)</font></div></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">36.4%</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">34.6%</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">41.6%</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#44546a;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Assets, Capital, Liquidity &#38; Credit Quality</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Credit Portfolio </font><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(6)</font></div></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$8,412</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$7,365</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$6,097</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Commercial Portfolio </font><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(7)</font></div></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$7,321</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$6,540</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$5,708</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Investment Portfolio</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$1,091</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$825</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$389</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Total assets</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$8,458</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$8,038</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$6,375</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Total equity</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$1,005</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$992</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$1,037</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Market capitalization </font><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(8)</font></div></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$565</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$601</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$601</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Tier 1 Capital to risk-weighted assets (Basel III &#8211; IRB) </font><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(9)</font></div></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">16.2%</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">19.1%</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">26.3%</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Capital Adequacy Ratio (Regulatory) </font><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(10)</font></div></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">13.4%</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">15.6%</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">19.4%</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Total assets &#47; Total equity (times)</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">8.4</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">8.1</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">6.1</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Liquid Assets &#47; Total Assets </font><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(11)</font></div></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">9.2%</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">17.5%</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">15.6%</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Credit-impaired loans to Loan Portfolio </font><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(12)</font></div></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">0.2%</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">0.2%</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">0.2%</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Total allowance for losses to Credit Portfolio </font><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(13)</font></div></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">0.7%</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">0.6%</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">0.7%</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Total allowance for losses to credit-impaired loans (times)</font><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline"> (13)</font></div></td><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #44546a;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">5.2</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4.4</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #44546a;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#404040;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4.2</font></td></tr></table></div><div style="margin-top:12pt;padding-left:5.05pt;padding-right:2.9pt;text-align:justify"><font><br></font></div><div style="padding-right:2.9pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">BUSINESS HIGHLIGHTS</font></div><div style="margin-top:12pt;padding-left:5.05pt;padding-right:2.9pt;text-align:justify;text-indent:-9.35pt"><font style="color:#1f497d;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8226;</font><font style="color:#1f497d;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;padding-left:6.55pt">The Bank&#8217;s Credit Portfolio increased 38% YoY and 14% QoQ, to reach record levels of $8.4 billion as of March 31, 2022. This growth was driven by Commercial Portfolio reaching $7.3 billion (+28% YoY&#59; +12% QoQ) along with increased credit investment securities to $0.9 billion, aimed to diversify exposures and complement the Bank&#8217;s commercial activities.</font></div><div style="margin-top:6pt;padding-left:4.5pt;padding-right:2.85pt;text-align:justify;text-indent:-9pt"><font style="color:#1f497d;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8226;</font><font style="color:#1f497d;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;padding-left:6.2pt">The Commercial Portfolio&#8217;s growth trend of seven consecutive quarters is propelled by stronger demand from the Bank&#8217;s traditional client base, mainly top tier corporations, boosted by higher commodity prices and trade flows in the Region. The Bank continued to focus its origination on portfolio diversification, preserving the high quality of its borrowers, as evidenced by the successful collection of all scheduled loan maturities, as well as by the short-term nature of its business (74% maturing in less than a year). </font></div><div style="height:31.68pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:59.04pt;width:100%"><div><font><br></font></div></div><div style="margin-top:6pt;padding-left:4.5pt;padding-right:2.85pt;text-align:justify;text-indent:-9pt"><font style="color:#1f497d;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8226;</font><font style="color:#1f497d;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;padding-left:6.2pt">Bladex&#180;s liquidity position, consisting of cash and due from banks and highly rated corporate debt securities (&#8216;A-&#8216; or above), stood at $0.8 billion, or 9% of total assets as of March 31, 2022. The Bank relies on sustained deposit levels and well diversified funding sources with ample access to global debt and capital markets, such as the re-opening of a debt placement in the Mexican market for an amount equivalent of $150 million, and a $300 million global syndicated transaction, during 1Q22.</font></div><div style="margin-top:6pt;padding-left:4.5pt;padding-right:2.85pt;text-align:justify;text-indent:-9pt"><font style="color:#1f497d;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8226;</font><font style="color:#1f497d;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;padding-left:6.2pt">Alongside Bladex&#8217;s portfolio growth is its asset quality preservation, as credit-impaired loans (&#8220;NPLs&#8221;) remained unchanged at $11 million or 0.2% of total Loan Portfolio as of March 31, 2022.  Credits categorized as Stage 2 under IFRS 9 (with increased risk since origination) represented 2% of total credits, unchanged QoQ and down from 5% a year ago, with the remaining 98% categorized as Stage 1 or low-risk credits. </font></div><div style="margin-top:6pt;padding-left:4.5pt;padding-right:2.85pt;text-align:justify;text-indent:-9pt"><font style="color:#1f497d;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8226;</font><font style="color:#1f497d;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;padding-left:6.2pt">As of March 31, 2022, the total allowance for credit losses increased 24% YoY and 17% QoQ to reach $55.2 million, representing 0.7% of total Credit Portfolio, and 5.2 times NPL balances.  The $8.1 million provision for credit losses in 1Q22 was closely tied to the Bank&#8217;s Credit Portfolio growth. </font></div><div style="margin-top:6pt;padding-left:4.5pt;padding-right:2.85pt;text-align:justify;text-indent:-9pt"><font style="color:#1f497d;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8226;</font><font style="color:#1f497d;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;padding-left:6.2pt">Bladex&#8217;s Profit for 1Q22 totaled $11.1 million (-13% YoY&#59; -45% QoQ), as the increase in top-line revenues (+38% YoY&#59; +1% QoQ) was mainly offset by the aforementioned credit provision charges.  </font></div><div style="margin-top:6pt;padding-left:4.5pt;padding-right:2.85pt;text-align:justify;text-indent:-9pt"><font style="color:#1f497d;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8226;</font><font style="color:#1f497d;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;padding-left:6.2pt">NII continued its quarterly growth trend since a year ago, up 36% YoY and 4% QoQ, to $25.7 million for 1Q22, mainly resulting from the effect of higher average net lending rates and volumes. </font></div><div style="margin-top:6pt;padding-left:4.5pt;padding-right:2.85pt;text-align:justify;text-indent:-9pt"><font style="color:#1f497d;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8226;</font><font style="color:#1f497d;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;padding-left:6.2pt">Fees and Commissions, net, totaled $3.9 million in 1Q22 (+30% YoY&#59; -37% QoQ). Fees from the Bank&#8217;s letters credit business sustained its growth trend performance (+31% YoY&#59; +6% QoQ), although impacted by the uneven nature of the transaction-based syndication business when compared to the 4Q21.</font></div><div style="margin-top:6pt;padding-left:4.5pt;padding-right:2.85pt;text-align:justify;text-indent:-9pt"><font style="color:#1f497d;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8226;</font><font style="color:#1f497d;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;padding-left:6.2pt">As of March 31, 2022, the Bank&#180;s Tier 1 Basel III Capital and Regulatory Capital Adequacy Ratios stood at 16.2% and 13.4%, respectively, due to higher risk-weighted assets on increased Loan and Investment Portfolios, while equity levels remained relatively stable at over $1 billion.</font><font style="color:#1f497d;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">  </font></div><div style="padding-left:9pt;padding-right:4.5pt;text-align:justify"><font><br></font></div><div style="padding-right:4.5pt;text-align:justify"><font><br></font></div><div style="padding-right:4.5pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">CEO's Comments</font></div><div style="margin-bottom:6pt;padding-right:4.3pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;padding-right:4.3pt;text-align:justify"><font style="color:#595959;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Mr. Jorge Salas, Bladex&#8217;s Chief Executive Officer said&#58; &#8220;This quarter was record-breaking in terms of asset growth, reaching USD8.5 billion in total assets on the back of a strong Commercial Portfolio performance.  This is now the seventh consecutive quarter of continued growth, as we have been actively taking advantage from increased demand in countries and sectors benefiting from the positive trend in trade volumes, as the increase in commodity prices are a favorable development for net commodity exporters in Latin America.&#8221; </font></div><div style="margin-bottom:6pt;padding-right:4.3pt;text-align:justify"><font style="color:#595959;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Mr. Salas added&#58; &#8220;To support this growth, Bladex continues to rely on its resilient level of deposits and ample access to debt and capital markets.  During the quarter, Bladex successfully reopened a debt placement in the Mexican capital market for 3 billion Mexican Pesos or approximately USD 150 million, and entered into a USD 300 million global syndicated transaction.  These new resources allow us to keep funding our commercial growth while maintaining a cost-efficient, diversified and resilient funding base.&#8221;  </font></div><div style="margin-bottom:6pt;padding-right:4.3pt;text-align:justify"><font style="color:#595959;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Mr. Salas also indicated&#58; &#8220;Interest income does not reflect the full impact of the increased volume of commercial assets observed during the quarter, as most of the growth took place during the last weeks of the quarter and the Bank maintained higher liquidity levels at the onset of the year, in anticipation of the expected increase of its credit portfolio. The robust asset growth should provide a strong basis for a sustained improvement of the Bank&#8217;s revenue flows in the coming months.&#8221; </font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#595959;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Mr. Salas concluded&#58; &#8220;Even though growth forecasts for the Region have been revised down slightly, while inflation continues to rise strongly, with official interest rates expected to move further into restrictive territory, we are confident in our ability to increase the profitability of our credit portfolio given its high turnover and the favorable market dynamics that benefit our business model, which, coupled with our expertise in the Region, allows us to continue to serve our clients&#8217; increasing financing needs.&#8221; </font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">RECENT EVENTS</font></div><div style="padding-right:4.5pt"><font><br></font></div><div style="padding-left:36pt;padding-right:4.5pt;text-align:justify;text-indent:-18pt"><font style="color:#1f497d;font-family:'Wingdings',sans-serif;font-size:9pt;font-weight:400;line-height:174%">&#9642;</font><font style="color:#1f497d;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:174%;padding-left:15.37pt">Quarterly dividend payment&#58;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:174%"> The Board approved a quarterly common dividend of $0.25 per share corresponding to the first quarter 2022.  The cash dividend will be paid on June 1, 2022, to shareholders registered as of May 16, 2022.</font></div><div style="padding-left:36pt;padding-right:4.5pt;text-align:justify;text-indent:-18pt"><font style="color:#1f497d;font-family:'Wingdings',sans-serif;font-size:9pt;font-weight:400;line-height:174%">&#9642;</font><font style="color:#1f497d;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:174%;padding-left:15.37pt">Annual Shareholders&#8217; Meeting Results&#58;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:174%">  At the Annual Shareholders&#8217; Meeting held on April 27, 2022, in Panama City, Panama, shareholders&#58;</font></div><div style="padding-left:54pt;padding-right:4.5pt;text-align:justify;text-indent:-18pt"><font style="color:#1f497d;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:174%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:174%;padding-left:15.2pt">Elected Mr. Fausto de Andrade Ribeiro as Director representing Class &#8220;A&#8221; shares of the Bank&#8217;s common stock</font></div><div style="padding-left:54pt;padding-right:4.5pt;text-align:justify;text-indent:-18pt"><font style="color:#1f497d;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:174%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:174%;padding-left:15.2pt">Elected Mrs. Lorenza Martinez, Mr. Ricardo Manuel Arango and Mr. Roland Holst as Directors representing Class &#8220;E&#8221; shares of the Bank&#8217;s common stock.</font></div><div style="padding-left:54pt;padding-right:4.5pt;text-align:justify;text-indent:-18pt"><font style="color:#1f497d;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:174%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:174%;padding-left:15.2pt">Approved the Bank&#8217;s audited consolidated financial statements for the fiscal year ended December 31, 2021.</font></div><div style="padding-left:54pt;padding-right:4.5pt;text-align:justify;text-indent:-18pt"><font style="color:#1f497d;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:174%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:174%;padding-left:15.2pt">Ratified KPMG as the Bank&#8217;s independent registered public accounting firm for the fiscal year ending December 31, 2022.  </font></div><div style="padding-left:54pt;padding-right:4.5pt;text-align:justify;text-indent:-18pt"><font style="color:#1f497d;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:174%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:174%;padding-left:15.2pt">Approved, on an advisory basis, the compensation of the Bank&#8217;s executive officers</font></div><div style="padding-right:4.3pt"><font><br></font></div><div style="padding-right:4.3pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:174%">Notes&#58; </font></div><div style="margin-bottom:6pt;padding-left:36pt;padding-right:4.5pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:174%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:174%;padding-left:15.2pt">Numbers and percentages set forth in this earnings release have been rounded and accordingly may not total exactly.</font></div><div style="height:31.68pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:59.04pt;width:100%"><div><font><br></font></div></div><div style="margin-bottom:6pt;padding-left:36pt;padding-right:4.5pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:174%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:174%;padding-left:15.2pt">QoQ and YoY refer to quarter-on-quarter and year-on-year variations, respectively.  </font></div><div style="margin-bottom:6pt;padding-right:4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:174%">Footnotes&#58;</font></div><div style="margin-bottom:4pt;padding-left:36pt;padding-right:4.3pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">1)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%;padding-left:11.53pt">Earnings per Share (&#8220;EPS&#8221;) calculation is based on the average number of shares outstanding during each period.</font></div><div style="margin-bottom:4pt;padding-left:36pt;padding-right:4.3pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">2)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%;padding-left:11.53pt">ROAE refers to return on average stockholders&#8217; equity which is calculated on the basis of unaudited daily average balances.</font></div><div style="margin-bottom:4pt;padding-left:36pt;padding-right:4.3pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">3)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%;padding-left:11.53pt">NIM refers to net interest margin which constitutes to Net Interest Income (&#8220;NII&#8221;) divided by the average balance of interest-earning assets.</font></div><div style="margin-bottom:4pt;padding-left:36pt;padding-right:4.3pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">4)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%;padding-left:11.53pt">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></div><div style="margin-bottom:4pt;padding-left:36pt;padding-right:4.3pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">5)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%;padding-left:11.53pt">Efficiency Ratio refers to consolidated operating expenses as a percentage of total revenues.  </font></div><div style="margin-bottom:4pt;padding-left:36pt;padding-right:4.3pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">6)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%;padding-left:11.53pt">The Bank&#8217;s &#8220;Credit Portfolio&#8221; includes gross loans at amortized cost (or the &#8220;Loan Portfolio&#8221;), 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&#59; and other assets consisting of customers&#8217; liabilities under acceptances.</font></div><div style="margin-bottom:4pt;padding-left:36pt;padding-right:4.3pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">7)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%;padding-left:11.53pt">The Bank&#8217;s &#8220;Commercial Portfolio&#8221; includes gross loans at amortized cost (or the &#8220;Loan Portfolio&#8221;), 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&#8217; liabilities under acceptances.</font></div><div style="margin-bottom:4pt;padding-left:36pt;padding-right:4.3pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">8)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%;padding-left:11.53pt">Market capitalization corresponds to total outstanding common shares multiplied by market close price at the end of each corresponding period.</font></div><div style="margin-bottom:4pt;padding-left:36pt;padding-right:4.3pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">9)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%;padding-left:11.53pt">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,</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">utilizing internal-ratings based approach or &#8220;IRB&#8221; for credit risk and standardized approach for operational risk. </font></div><div style="margin-bottom:4pt;padding-left:36pt;padding-right:4.3pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">10)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%;padding-left:7.48pt">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&#8217;s categories for credit risk. In addition, risk-weighted assets consider calculations for market risk and operating risk. </font></div><div style="margin-bottom:4pt;padding-left:36pt;padding-right:4.3pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">11)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%;padding-left:7.48pt">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&#59; as well as highly rated corporate debt securities (above &#8216;A-&#8216;).  Liquidity ratio refers to liquid assets as a percentage of total assets.    </font></div><div style="margin-bottom:4pt;padding-left:36pt;padding-right:4.3pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">12)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%;padding-left:7.48pt">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></div><div style="margin-bottom:4pt;padding-left:36pt;padding-right:4.3pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">13)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%;padding-left:7.48pt">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></div><div><font><br></font></div><div style="height:31.68pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><div id="i8b9066e9197e4d18a6773b0928c5c8e4_36"></div><hr style="page-break-after:always"><div style="min-height:100.08pt;width:100%"><div><font><br></font></div></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">SAFE HARBOR STATEMENT</font></div><div style="padding-right:4.5pt"><font><br></font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-bottom:0.25pt solid #000080;border-left:0.25pt solid #000080;border-right:0.25pt solid #000080;border-top:0.25pt solid #000080;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:2.75pt;padding-right:7.25pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">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&#58; &#8220;anticipate&#8221;, &#8220;intend&#8221;, &#8220;plan&#8221;, &#8220;goal&#8221;, &#8220;seek&#8221;, &#8220;believe&#8221;, &#8220;project&#8221;, &#8220;estimate&#8221;, &#8220;expect&#8221;, &#8220;strategy&#8221;, &#8220;future&#8221;, &#8220;likely&#8221;, &#8220;may&#8221;, &#8220;should&#8221;, &#8220;will&#8221; and similar references to future periods.  The forward-looking statements in this press release include the Bank&#8217;s financial position, asset quality and profitability, among others.  These forward-looking statements reflect the expectations of the Bank&#8217;s management and are based on currently available data&#59; however, actual performance and results are subject to future events and uncertainties, which could materially impact the Bank&#8217;s expectations.  Among the factors that can cause actual performance and results to differ materially are as follows&#58; the coronavirus (COVID-19) pandemic and government actions intended to limit its spread&#59; the anticipated changes in the Bank&#8217;s credit portfolio&#59; the continuation of the Bank&#8217;s preferred creditor status&#59; the impact of increasing&#47;decreasing interest rates and of the macroeconomic environment in the Region on the Bank&#8217;s financial condition&#59; the execution of the Bank&#8217;s strategies and initiatives, including its revenue diversification strategy&#59; the adequacy of the Bank&#8217;s allowance for expected credit losses&#59; the need for additional allowance for expected credit losses&#59; the Bank&#8217;s ability to achieve future growth, to reduce its liquidity levels and increase its leverage&#59; the Bank&#8217;s ability to maintain its investment-grade credit ratings&#59; the availability and mix of future sources of funding for the Bank&#8217;s lending operations&#59; potential trading losses&#59; the possibility of fraud&#59; and the adequacy of the Bank&#8217;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.   </font></div></td></tr></table></div><div style="margin-bottom:6pt;padding-right:4.5pt"><font><br></font></div><div style="margin-bottom:6pt;padding-right:4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:174%">ABOUT BLADEX</font></div><div style="padding-right:4.3pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:174%">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></div><div style="padding-right:4.3pt;text-align:justify"><font><br></font></div><div style="padding-right:4.3pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:174%">Bladex is listed on the NYSE in the United States of America (NYSE&#58; BLX), since 1992, and its shareholders include&#58; central banks and state-owned banks and entities representing 23 Latin American countries&#59; commercial banks and financial institutions&#59; and institutional and retail investors through its public listing.</font></div><div style="margin-bottom:6pt;padding-right:4.5pt"><font><br></font></div><div style="margin-bottom:6pt;padding-right:4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:174%">CONFERENCE CALL INFORMATION</font></div><div style="padding-right:4.5pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:174%">There will be a conference call to discuss the Bank&#8217;s quarterly results on Wednesday, May 4, 2022 at 11&#58;00 a.m. New York City time (Eastern Time).  For those interested in participating, please dial (800) 420-1271 in the United States or, if outside the United States, (785) 424-1205.  Participants should use conference passcode 47922, and dial in five minutes before the call is set to begin.  There will also be a live audio webcast of the conference at </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:174%;text-decoration:underline">http&#58;&#47;&#47;www.bladex.com</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:174%">.  The webcast presentation will be available for viewing and downloads on </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:174%;text-decoration:underline">http&#58;&#47;&#47;www.bladex.com</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:174%">.</font></div><div style="padding-right:4.5pt;text-align:justify"><font><br></font></div><div style="padding-right:4.5pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:174%">The conference call will become available for review on Conference Replay one hour after its conclusion and will remain available for 30 days.  Please dial (888) 219-1264 and follow the instructions.  The replay passcode is&#58; 47922.  </font></div><div style="padding-right:4.5pt;text-align:justify"><font><br></font></div><div style="padding-right:4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">For more information, please access </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:underline">http&#58;&#47;&#47;www.bladex.com</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%"> or contact&#58;</font></div><div style="padding-right:4.5pt"><font><br></font></div><div style="padding-right:4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:174%">Mrs. Ana Graciela de M&#233;ndez</font></div><div style="padding-right:4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:174%">Chief Financial Officer</font></div><div style="padding-right:4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:174%">Tel&#58; +507 210-8563 </font></div><div style="padding-right:4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:174%">E-mail address&#58; </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:174%;text-decoration:underline">amendez&#64;bladex.com</font></div><div style="height:64.8pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4</font></div><div style="text-align:right"><font><br></font></div></div></div></body></html>
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