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Fair value of financial instruments (Tables) | 12 Months Ended
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Dec. 31, 2023
Fair value of financial instruments |
Schedule of Financial Instruments Measured at Fair Value on a Recurring Basis by Caption on the Consolidated Statement of Financial Position Using the Fair Value Hierarchy | Financial instruments measured at fair value by caption on the consolidated statement of financial position using the fair value hierarchy are described below:
| December 31, 2023
| Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets |  |  |  |  |  |  |
Securities at FVOCI - Corporate debt | — |  |  | 11,865 |  |  | — |  |  | 11,865 |
Derivative financial instruments - assets: |  |  |  |  |  |  |
Interest rate swaps | — |  |  | 11,358 |  |  | — |  |  | 11,358 |
Cross-currency swaps | — |  |  | 145,909 |  |  | — |  |  | 145,909 |
Total derivative financial instrument assets | — |  |  | 157,267 |  |  | — |  |  | 157,267 |
Total assets at fair value | — |  |  | 169,132 |  |  | — |  |  | 169,132 |
Liabilities |  |  |  |  |  |  |
Derivative financial instruments - liabilities: |  |  |  |  |  |  |
Interest rate swaps | — |  |  | 790 |  |  | — |  |  | 790 |
Cross-currency swaps | — |  |  | 39,823 |  |  | — |  |  | 39,823 |
Total derivative financial instruments - liabilities | — |  |  | 40,613 |  |  | — |  |  | 40,613 |
Total liabilities at fair value | — |  |  | 40,613 |  |  | — |  |  | 40,613 |
A. Measured at fair value (continued)
| December 31, 2022
| Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets |  |  |  |  |  |  |
Securities at FVOCI - Corporate debt | — |  |  | 78,372 |  |  | — |  |  | 78,372 |
Derivative financial instruments - assets: |  |  |  |  |  |  |
Interest rate swaps | — |  |  | 483 |  |  | — |  |  | 483 |
Cross-currency swaps | — |  |  | 45,806 |  |  | — |  |  | 45,806 |
Foreign exchange forwards | — |  |  | 21,870 |  |  | — |  |  | 21,870 |
Total derivative financial instrument assets | — |  |  | 68,159 |  |  | — |  |  | 68,159 |
Total assets at fair value | — |  |  | 146,531 |  |  | — |  |  | 146,531 |
Liabilities |  |  |  |  |  |  |
Derivative financial instruments - liabilities: |  |  |  |  |  |  |
Interest rate swaps | — |  |  | 544 |  |  | — |  |  | 544 |
Cross-currency swaps | — |  |  | 33,217 |  |  | — |  |  | 33,217 |
Total derivative financial instruments - liabilities | — |  |  | 33,761 |  |  | — |  |  | 33,761 |
Total liabilities at fair value | — |  |  | 33,761 |  |  | — |  |  | 33,761 |
Schedule of Carrying Value and an Estimated Fair Value of the Bank's Financial Instruments that are not Measured on a Recurring Basis | The following table provides information on the carrying value and the estimated fair value of the Bank’s financial instruments that are not measured at fair value:
| December 31, 2023
| Carrying value |  | Fair value |  | Level 1 |  | Level 2 |  | Level 3
Assets |  |  |  |  |  |  |  |  |
Cash and deposits in banks | 2,047,452 |  |  | 2,047,452 |  |  | — |  |  | 2,047,452 |  |  | — |
Securities at amortized cost (1) | 1,010,266 |  |  | 997,341 |  |  | — |  |  | 997,341 |  |  | — |
Loans at amortized cost (2) | 7,220,520 |  |  | 7,267,429 |  |  | — |  |  | 7,267,429 |  |  | — |
Customers' liabilities under acceptances | 261,428 |  |  | 261,428 |  |  | — |  |  | 261,428 |  |  | — |
Liabilities |  |  |  |  |  |  |  |  |
Deposits | 4,451,025 |  |  | 4,451,025 |  |  | — |  |  | 4,451,025 |  |  | — |
Securities sold under repurchase agreements | 310,197 |  |  | 310,197 |  |  | — |  |  | 310,197 |  |  | — |
Borrowings and debt, net | 4,351,988 |  |  | 4,357,271 |  |  | — |  |  | 4,357,271 |  |  | — |
Acceptances outstanding | 261,428 |  |  | 261,428 |  |  | — |  |  | 261,428 |  |  | — |
| December 31, 2022
| Carrying value |  | Fair value |  | Level 1 |  | Level 2 |  | Level 3
Assets |  |  |  |  |  |  |  |  |
Cash and deposits in banks | 1,241,586 |  |  | 1,241,586 |  |  | — |  |  | 1,241,586 |  |  | — |
Securities at amortized cost (1) | 945,260 |  |  | 895,154 |  |  | — |  |  | 894,034 |  |  | 1,120 |
Loans at amortized cost, net (2) | 6,760,434 |  |  | 6,785,652 |  |  | — |  |  | 6,785,652 |  |  | — |
Customers' liabilities under acceptances | 163,345 |  |  | 163,345 |  |  | — |  |  | 163,345 |  |  | — |
Liabilities |  |  |  |  |  |  |  |  |
Deposits | 3,205,386 |  |  | 3,205,386 |  |  | — |  |  | 3,205,386 |  |  | — |
Securities sold under repurchase agreements | 300,498 |  |  | 300,498 |  |  | — |  |  | 300,498 |  |  | — |
Borrowings and debt, net | 4,416,511 |  |  | 4,389,902 |  |  | — |  |  | 4,389,902 |  |  | — |
Acceptances outstanding | 163,345 |  |  | 163,345 |  |  | — |  |  | 163,345 |  |  | — |
(1)The carrying value of securities at amortized cost is net of accrued interest receivable of $12.4 million and the allowance for expected credit losses of $1.6 million as of December 31, 2023 (accrued interest receivable of $11.2 million and the allowance for expected credit losses of $8.0 million as of December 31, 2022). (2)The carrying value of loans at amortized cost is net of accrued interest receivable of $109.1 million, the allowance for expected credit losses of $59.4 million and unearned interest and deferred fees of $24.7 million as of December 31, 2023 (accrued interest receivable of $70.0 million, the allowance for expected credit losses of $55.2 million and unearned interest and deferred fees of $17.3 million as of December 31, 2022).

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