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2Q17 Earnings Results Presentation

July 21, 2017

“This presentation contains forward-looking statements. These statements are made under the “safe harbor” provisions established

by the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements involve inherent risks and uncertainties.

The forward-looking statements in this presentation reflect the expectations of the Bank’s management and are based on currently

available data; however, actual experience with respect to these factors is subject to future events and uncertainties, which could

materially impact the Bank’s expectations. A number of factors could cause actual performance and results to differ materially from

those contained in any forward-looking statement, including but not limited to the following: the anticipated growth of the Bank’s

credit portfolio, including its trade finance portfolio; the continuation of the Bank’s preferred creditor status; the impact of increasing

interest rates and of the macroeconomic environment in the Region on the Bank’s financial condition; the execution of the Bank’s

strategies and initiatives, including its revenue diversification strategy; the adequacy of the Bank’s allowance for credit losses; the

need for additional provisions for credit losses; the Bank’s ability to achieve future growth, the Bank’s ability to reduce its liquidity

levels and increase its leverage; the Bank’s ability to maintain its investment-grade credit ratings; the availability and mix of future

sources of funding for the Bank’s lending operations; potential trading losses; the possibility of fraud; and the adequacy of the

Bank’s sources of liquidity to replace large deposit withdrawals.”

2

Tier I Basel III ratio at 20.3% on declining RWA (-6% QoQ, and -21% YoY)

8.1% ROAE as of 6M17

Financial Performance Overview 2Q17 Highlights

x More balanced

Commercial Portfolio

Improving asset quality

and higher reserve

coverage

Lower NII & NIM on lower

average loan balances

Improved fee based

Income

Higher deposit balances

but higher overall CoF

Strong capitalization

levels but lower ROAE

Mexico displaces Brazil as # 1 country of exposure

Continued de-risking with lower country, industry and client concentrations

Increased exposure to trade assets (69%, +2 pts QoQ), and ST maturities (80%, +3 pts)

NPLs down 4% QoQ to $62.6MM

Higher provisions for ECL resulting in higher reserve coverage (2.06% 2Q17 from 1.89%

1Q17)

Successful Panama workout

Remaining NPL largely in Brazil (88.4% of total NPL)

Adjustment of amortization cost associated with the hedging of foreign currency deposits

Decreased loan portfolio balances on weaker market dynamics and ample liquidity

Net lending spreads impacted by portfolio mix shift towards trade and ST exposures,

partially offset by declining interest bearing liabilities

Continued rise in market rates underpins NIM resilience

+42% QoQ, with two closed syndication transactions

+11% YoY (YTD basis) on stronger L/C business

Deposits at new record-highs account for 63% of overall funding base

Overall cost of funds up +23 bps QoQ

3

One-time increase in

operating expenses Quarterly efficiency ratio at 37% on non-recurring severance expense

Quarterly profit impacted by lower portfolio balances,

and non-recurring effects ( amortization cost &

severance payments)

Quarterly fee income up on loan syndication activity

Higher quarterly provisions on ECL

Profit Evolution

6M17 results no longer affected by investment in

funds

Lower performance-based variable compensation

accrual in 2Q16

YoY lower provisions for ECL

4

Capitalization, Efficiency and ROAE

5

Fees & Other Income

Successful syndication transactions executed

Bladex ranked 16th in Bookrunner by Volume

League Table*

Robust syndications pipeline

Fees & Other income increased +11% 6M YoY

and +42% QoQ (2Q17/1Q17)

LCs business improved YoY with broader

client mix, QoQ and YoY higher number of L/C

confirmations and issuances

6

(*) Source: Bloomberg

NII declined QoQ on lower average loan

balances

Average rate effect affected by lower net

lending spreads and amortization cost

adjustment

Net Interest Income & Financial Margins

(*) -$2.6MM corresponding to the effect of derivative financial instruments used for hedging

7

*

Deposits at $3.4 billion, +5% QoQ and YoY, representing

63% of funding; Class A shareholders hold 71% of total

deposits

Overall increase of 23 bps in average funding costs;

Market rates increase (+16 bps)

Amortization cost impact (+19 bps)

Tighter spreads through liability management (-12 bps)

Funding Sources and Cost of Funds

Deposits by Type of Client

(As of June 30, 2017)

Funding Sources by Geography

(As of June 30, 2017)

Funding Sources

8

Mexico #1 country exposure (18%

+ 2pts QoQ), displacing Brazil

Peru and Chile exposure also

increased QoQ, other markets

experiencing lower demand

FI share of portfolio higher on

flight to quality, particularly in

Brazil

Lower corporate lending due to

de-risking and lower USD credit

demand

Commercial Portfolio Highlights

9

Dynamic industry exposure management

focused on sectors with favorable terms-of-trade

Oil & Gas exposure emphasizes integrated

companies; Upstream exposures remain at

multi-year lows

Commercial Portfolio remains very liquid with

80% maturing within one year (+3 pts QoQ,

+6 pts YoY)

Regional Exposure by Industry as of June 30, 2017

Commercial Portfolio Exposure by Industry

10

Slower multi-year de-risking trend

Current conditions not yet suitable for sustained

growth

Commercial Portfolio – Brazil Exposure Update (As of June 30, 2017)

11

NPL balances improved to $62.6MM (1.12% of total loans) from the

net effects of resolved Panama restructuring and deterioration of a

minor Brazil exposure

NPL and provisions for ECL now nearly entirely confined to Brazil,

representing 88% of all NPL exposures

Slow-paced ongoing restructuring negotiations continue to drive

provisions

Credit Quality - NPL

12

IFRS Rule 9 - Stage 1: Collectively assessed performing exposures based on 12-month ECL; IFRS Rule 9

- Stage 2: Performing exposures assessed based on lifetime ECL; IFRS Rule 9 - Stage 3: Credit-impaired

financial assets (“NPL”) based on lifetime ECL

Total allowance for ECL on loans

increased +$5.7MM to $115.6MM:

- (+) Higher requirement for NPL

(Stage 3) reflecting slow pace

of ongoing restructurings

- (+) Higher requirement for

performing loans on lifetime

expected losses (Stage 2)

- (-) Lower requirement for

performing loans on 12-month

expected losses (Stage 1), from

decreased loan balances

Credit Quality - Allowances

13

Book value growth

underpins share price

Attractive 12-month

forward valuations as of

June 30, 2017:

10.0x P/E

1.0x P/BV

$0.385/share declared for

2Q17

Robust annualized

dividend yield at 5.5%

Shareholder Returns

14

Thank You

15

Appendix

16

Key Financial Metrics

17

Quarterly Results Year to Date Results

(In US$ million, except percentages) 2Q17 1Q17 2Q16 QoQ YoY 6M17 6M16 YoY

Profit for the period $17.5 $23.5 $22.3 -25% -22% $40.9 $45.7 -10%

EPS (US$) $0.44 $0.60 $0.57 -26% -22% $1.04 $1.17 -11%

Return on Average Equity ("ROAE") 6.9% 9.4% 9.1% -27% -24% 8.1% 9.4% -13%

Return on Average Assets (ROAA) 1.08% 1.39% 1.20% -22% -10% 1.23% 1.21% 2%

Net Interest Margin ("NIM") 1.80% 2.02% 2.06% -11% -13% 1.91% 2.06% -7%

Net Interest Spread ("NIS") 1.44% 1.71% 1.83% -16% -21% 1.58% 1.84% -14%

Loan Portfolio 5,570 5,739 6,520 -3% -15% 5,570 6,520 -15%

Commercial Portfolio 5,840 6,141 6,767 -5% -14% 5,840 6,767 -14%

Total Allowance for ECL on loans, loan commitments and financial guarantee contracts

to Commercial Portfolio 2.06% 1.89% 1.60% 9% 29% 2.06% 1.60% 29%

Non-Performing Loans to Gross Loan Portfolio (%) 1.12% 1.14% 1.30% -1% -13% 1.12% 1.30% -13%

Total Allowance for ECL on loans, loan commitments and financial guarantee contracts

to Non-Performing Loans (x times) 1.9 1.8 1.3 8% 50% 1.9 1.3 50%

Efficiency Ratio 37% 29% 23% 25% 61% 33% 28% 19%

Market Capitalization 1,078 1,088 1,036 -1% 4% 1,078 1,036 4%

Assets 6,422 7,067 7,634 -9% -16% 6,422 7,634 -16%

Tier 1 Capital Ratio Basel III 20.3% 19.0% 15.6% 7% 30% 20.3% 15.6% 30%

Leverage (times) 6.3 6.9 7.7 -10% -18% 6.3 7.7 -18%(*) End-of-period balances.

Results

Performance

Portfolio Quality (*)

Efficiency

Scale &

Capitalization (*)