Bladex Corporate Presentation 1Q17

2. Disclaimer
“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 improving 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 volatility of the Bank’s Treasury trading revenues; the Bank’s ability to achieve future growth and increase its
number of clients, 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; existing and future governmental banking and tax regulations; the possibility of fraud; and the
adequacy of the Bank’s sources of liquidity to replace large deposit withdrawals.”
2

3. A Leading Franchise with a Solid Track Record
Unique Profile Key Financial Highlights
Bladex is the Latin American Trade Finance Bank, providing
integrated financial solutions across Latin America’s foreign
trade value chain
 First Latin American bank to be listed on the NYSE and to
be rated Investment Grade (both in 1992). Subject to laws,
regulations and guidelines of U.S. Securities Act of the SEC
and the NYSE
 Class “A” shareholders, Central Banks or designees from
23 Latin America countries (“LatAm”), provide substantial
support and represent a direct link between the Bank and
the governments of the Region
 Multi-national DNA embedded in its ownership structure,
regional presence management and organizational culture.
 Bladex has representative offices in Argentina, Brazil,
Colombia, Mexico and Peru and is subject to supervision
by regulatory authorities in these jurisdictions
 Through its New York Agency, Bladex is subject to the
applicable laws and regulations of financial entities
operating in the USA. Supervision of the Federal Reserve
Bank of the United States of America (FED) and The New
York State Department of Financial Services (NYSDFS)
 The Bank, through its commercial activities and diversified
sources of funding, is supervised by various regulatory
entities in different countries such as United States, Mexico
and Japan, among others
 Corporate Governance that reflects world standard best
practices
 While headquartered in Panama, Bladex’s book of
business, liquidity and funding are largely independent of
the Panamanian Banking System
Current Credit Ratings
FY’15 FY’16 1Q17 1Q17
/1Q16
Profit for the period (mm) $104.0 $87.0 $23.5 0%
Net Interest Income (mm) $145.5 $155.2 $34.4 -13%
Return on Average Equity 11.0% 8.8% 9.4%
Gross Loans (mm) $6,692 $6,021 $5,739 -8%
Total Assets (mm) $8,286 $7,181 $7,067 -13%
Total Deposits (mm) $2,795 $2,803 $3,181 4%
Market Capitalization (mm) $1,010 $1,153 $1,088 15%
NPLs to gross loan portfolio 0.78% 1.09% 1.14%
Moody’s Fitch S&P
Date of Rating Dec. 2007 Jul. 2012 May 2008
Date of Confirmation Nov. 2014 Jul. 2016 Jun. 2016
Date of Last Update Jan. 2017 Sep. 2016 Jun. 2016
Short-Term P-2 F2 A-2
Long-Term Baa2 BBB+ BBB
Perspective Stable Stable Negative*
3
(*) Revised from Stable as of October 28th, 2016

4. Strong and Unique Shareholder Structure
 Class A shareholders provide substantial support
to Bladex, representing a direct link between the
Bank and the governments of Latin America
–most of which have granted preferred creditor
status to the Bank– and also constitute the main
source of deposits, a very reliable funding source
 Class A shareholders enjoy super-majority rights
related to changes in the Bank’s Articles of
Incorporation
 Class A shareholders can only sell shares to
other class A shareholders, thus maintaining the
essence of the existing shareholder structure
and ensuring support from central banks
Shareholder Composition
Board of Directors Composition
4
 Board of Directors is
distinguished by its
independence and
diversity
 Out of 10 Directors
(including the Bank’s
CEO), 8 are independent
Class A – Central Banks or
designees from 23 LatAm countries
Class B – LatAm & international
banks and financial institutions
Class E – Public Float (NYSE listed)
Unique Shareholding Structure

5. Defined Value Proposition with Strong Business Fundamentals
Business Value Proposition Strong Underlying Business Fundamentals
Business Products & Services Multi-Pronged Business Segmentation
 Global provider of natural
resources with positive
demographics
 Sustained growth
and sound
economic
policies
Deep knowledge of
Latin America
Core competency in
trade finance
Support of
Investment &
Regional Integration
Efficient Measurement
and Management
 In-depth knowledge of Latin America’s local markets
 Backed by 23 Latin American governments
 Vast correspondent banking network throughout
LatAm & other regions of the world
 Uniquely qualified staff with strong product expertise in
Trade Value Chain, Cross-border Finance, Supply-side
& Distribution, both intra-regional and inter-regional
 Efficient organizational structure
 LEAN, client focused efficient organizational structure
 Single point of contact, providing client-specific
solutions, and focused on long-term relationships
 Driver of progress, economic
growth and development
 Supporting
specialization in
both primary and
manufacturing
sectors
 Enhancing LatAm’s
role in global and
regional value chains
 Growth of ‘Multi-latinas’ as
drivers of business expansion
 Supporting business
integration boosted by
free trade agreements
Bladex’s products and services are categorized into three main areas: i) Financial
Intermediation, ii) Structuring and Syndications and iii) Treasury
Financial Intermediation
Syndication and Structuring
Treasury
 Trade: Foreign trade products – short and to a lesser extent, medium term
instruments that help drive the cross-border activity of corporations
 Working Capital: Support provided to trade finance clients throughout the entire
production cycle chain, across a wide range of primary, secondary and tertiary
activity sectors. Structured Credit and lending facilities for mainly short term
financing of supply chain, materials & equipment, and inventories
 Financial solutions designed to meet clients' needs mostly in medium-term tenor
 Provides access to structured funding for a wide base of financial institutions and
companies in Latin America
 Debt capital market and deposit products for investment and cash flow optimization
 Treasury services
 World-Class Standards in Corporate Governance
 Enterprise-Wide Risk Management
5
Financial Institutions
 Among top 10 in their
respective markets
 Significant corporate
banking activity / client
base
Corporations
 US Dollar generation
capacity
 Growth oriented beyond
domestic market
 Focus on the high and
medium corporate
segments of each
industry
Focus on Strategic Sectors for the Region
 Agribusiness, Oil & Gas (mainly integrated),
Metals & Mining, Food processing and other
Manufacturing
Regional Focus
 Mexico
 Central America and The
Caribbean
 Brazil
 South America
• Southern Cone (1)
• Andean Region (2)
5
REGIONS
CLIENT
BASE
INDUSTRY
SECTORS
(1) Includes Argentina, Chile, Paraguay and Uruguay. (2) Includes Bolivia, Colombia, Ecuador, Peru and Venezuela

6. New Business Target:
Origination Distribution & ServicesPortfolio Management
Core Target:
15%+ RoAE
Medium Term
Value Creation
NY006PF6_1.cdr
3% + RoAE
Medium Term
Business Model
• Leverage the origination capacity of
Bladex to generate additional
commission income
Robust Margins
Net Interest Margin –
NIM (~ 1.8% - 2.0%)
Stable Fees from Use of
Capital
(~ 15% – 20% of Core
Business Net Revenues)
Credit Cost adjusted
to the Cycle
Cost of Credit
(~ 1.2% – 1.5%)
Continued Focus on
Efficiency
Efficiency Ratio
(< 30%)
Sustainable
Moderate Growth
(+3% / + 8%)
Solid Capitalization
Tier 1 Basel III Ratio
(> 13.5%)
Financial Intermediation
(On-book Portfolio)
Asset and Liabilities
Analysis
Composition, structure
and trends
Active Credit Portfolio Management
Capital Base
Optimization
Tier 1 and Tier 2
Structuring
(STF & Other)
Risk Sharing
Programs
Secondary
Markets
Transactional Focus
(Commissions):
“Trade Fund”
12% + RoAE
Recurring
Insurance
Coverage
Syndications
Platform
Asset Distribution & Services
Portfolio
Distribution:

 
6
Trade Flow LatAm
Source: The Economist ,as of April, 2017
Bladex origination growth
Bladex client base growth

7. Adhering to World-Class Standards
Commercial
Division
Board of Directors
CEO
Internal
Audit
Nomination
and Compensation
Committee
Finance and Business
Committee
Risk Policy and
Assessment Committee
Audit and
Compliance Committee
Commercial
Division
Finance
Division
Corporate
Services
Legal Counsel
& Compliance
Risk
Management
.
FIRST LINE
OF DEFENSE
Operational
Management
-------------------------
Business and
Support Areas
Function
THIRD LINE
OF DEFENSE
Verification
-----------------------
Audit Function
SECOND LINE
OF DEFENSE
Monitoring
-------------------------
Risk & Legal
Management
function
Regulatory & Prevention
Compliance
AML
Committee
7
 Internal alignment of corporate culture, measurement system
and process management to optimize total shareholder return
 Early implementation of Basel III (2014) and IFRS 9 (2015)
 Strive to follow international best practices for Corporate
Government
 Multi-regulatory discipline
 Auditing overseen by the PCAOB of the United States

8. Commercial Strategy Focused on Diversification
8
Sustained Portfolio Growth Commercial Portfolio Composition
Commercial Portfolio By Country Commercial Portfolio By Industry
As of March 31, 2017As of March 31, 2017
8
 Reduced exposure to Brazil by
29 percentage points since 2008
to March 31, 2017
As of March 31, 2017

9. Regional Exposure by Industry as of March 31, 2017
9
Commercial Portfolio Exposure by Industry

10. 10
Focus on Asset Quality
Proven track record of strong asset quality, with significant risk
mitigants:
 Low-risk asset class, with short-dated exposures and superior
loss performance compared to other asset classes
 Unexpected economic events globally and a downturn in
Latin-American economies have increased volatility and credit
risk in the Region, however LatAm prospects are improving
 NPL and provisions for ECL stay relatively confined to specific
countries, industries and clients; Brazil represents 76% of all
NPL exposure
 US dollar based lending to US dollar generators, no meaningful
net FX exposures
 Conservative loss reserves methodology (IFRS 9)
 Pro-active loss prevention, and diligent recovery processes 10

11. 11
Low risk Business
Commercial Portfolio by Type of Transaction
 As of March 31, 2017, 77% of Commercial Portfolio
had a remaining maturity term of 1 year, with
average maturity of 100 days
 Medium term commercial portfolio with a remaining
maturity term of 2.3 years
 Commercial Portfolio - remaining maturity of 266
days
11
Commercial Portfolio by Term
 Bladex’s portfolio is composed primarily of trade
assets*, low-risk class, with short-dated exposures,
and superior loss performance
(*) Bladex Investment Securities Portfolio amounts to only 1% of assets as of March 31, 2017 (mostly multilateral, sovereign or state-owned). The Bank will
continue to reduce its holdings to minimize market risk

12. Diversified Regional and Global Funding Sources….
(*) Original Currency: all non-
USD denominated liabilities
are hedged into US Dollars
with the exception of most
MXN issuances which fund
assets in the same currency.
Funding Highlights
 Proven capacity to secure funding and maintain high liquidity
levels
 Record level of deposits at US$3.2 billion as of March 31,
2017, 54% of funding. 66% of deposits from central banks or
designees (Class A), which provide a resilient funding base
 Focus on increased diversification of global and regional
funding sources regarding client base, geography and
currency
 Broad access to debt capital markets through public and
private debt issuance programs in USD and other currencies,
as well as to global loan syndications
 The Bank relies primarily on deposits to cover its short-term
funding needs as the lending book moved towards shorter
tenors, while increasing overall funding stability with medium
and long-term funding maintaining competitive funding costs
Deposits by Type of Client Diversified Funding Sources
As of March 31, 2017 As of March 31, 2017
Funding Sources and Cost of Funds
Funding by Currency (*)
12
(US$ million)
As of March 31, 2017

13. Conservative Liquidity Management
Liquidity Management Highlights Liquidity Placements
Liquidity Coverage RatioLiquidity Ratio
(US$ million)
As of March 31, 2017
 Liquidity monitoring parameters established by Basel III through
Liquidity Coverage Ratio (“LCR”) and Net Stable Funding
Ratio (“NSFR”)
 US$ 1,219 Million
 1.40x NSFR
 1.14x LCR
 Liquid balances mainly held in cash-equivalent deposits in
A-1/P-1 rated financial institutions or A-rated negotiable money
market instruments.
 High-quality, short-term trade finance book, which serves as an
alternate source of liquidity, with approximately US$1 billion in
loans maturing on a monthly basis
13

14. 14
Expanding Earnings Capacity & Profitability...
Profit for the period Net Interest Income & Margin
Fees and Other Income Efficiency Ratio
Note: Financial Information corresponding to the year 2014-2017 were prepared in accordance with International Financial Reporting Standards (IFRS) as issued by IASB. The financial
information corresponding to the years 2011-2013 follow the previous accounting standard, US-GAAP. Bladex completed its transition process to IFRS from US-GAAP in 2015.
(US$ million, except percentages)
(US$ million) (US$ million, except percentages)
(US$ million)

15. 15
Supported by Strong Balance Sheet
Total Assets Loan Portfolio
Deposits Stockholder’s Equity
(US$ million)
(US$ million) (US$ million)
(US$ million)
Note: Financial Information corresponding to the year 2014-2017 were prepared in accordance with International Financial Reporting Standards (IFRS) as issued by IASB. The financial
information corresponding to the years 2011-2013 follow the previous accounting standard, US-GAAP. Bladex completed its transition process to IFRS from US-GAAP in 2015.

16. Return on Average Equity “ROAE” Return on Average Assets “ROAA”
Solid Performance
Tier 1 Capital Ratio
16
Risk Weighted Assets – Basel III
(US$ million)
2011 n.a.
2012 n.a.
2013 n.a.
2014 $5,914
2015 $6,104
2016 $5,662
31-Mar-2017 $5,367
n.a. means not available
Note: Financial Information corresponding to the year 2014-2017 were prepared in accordance with International Financial Reporting Standards (IFRS) as issued by IASB. The financial
information corresponding to the years 2011-2013 follow the previous accounting standard, US-GAAP. Bladex completed its transition process to IFRS from US-GAAP in 2015.

17. 17
Key Financial Metrics
17
Financial Information corresponding to the year 2014-2017 were prepared in accordance with International Financial Reporting Standards (IFRS) as issued by IASB. The financial
information corresponding to the years 2011-2013 follow the previous accounting standard, US-GAAP. Bladex completed its transition process to IFRS from US-GAAP in 2015.
(*) Includes results from the participation of investment funds.
(In US$ million, except percentages) 2011 2012 2013 2014 2015 2016 1Q17
Total Income $138.8 $137.4 $133.7 $167.6 $173.9 $168.0 $38.3
Business Profit $66.3 $83.5 $89.4 $99.7 $99.0 $91.5 $23.5
Non-Core Items 16.9 9.5 (4.6) 2.7 5.0 (4.5) -
Net Profit $83.2 $93.0 $84.8 $102.4 $104.0 $87.0 $23.5
EPS (US$) $2.25 $2.46 $2.21 $2.65 $2.67 $2.23 $0.60
Return on Average Equity (ROAE) 11.4% 11.6% 10.0% 11.5% 11.0% 8.8% 9.4%
Business Return on Average Equity ("Business ROAE") 9.1% 10.4% 10.6% 11.2% 10.4% 9.2% 9.4%
Return on Average Assets (ROAA) 1.5% 1.5% 1.2% 1.4% 1.3% 1.2% 1.4%
Busines Return on Assets ("Business ROAA") 1.2% 1.4% 1.3% 1.3% 1.3% 1.2% 1.4%
Net Interest Margin ("NIM") 1.81% 1.70% 1.75% 1.88% 1.84% 2.08% 2.02%
Net Interest Spread ("NIS") 1.62% 1.44% 1.55% 1.72% 1.68% 1.84% 1.71%
Loan Portfolio 4,960 5,716 6,148 6,686 6,692 6,021 5,739
Commercial Portfolio 5,354 5,953 6,630 7,187 7,155 6,444 6,141
Allowance for expected credit losses on loans, loan commitments and
financial guarantee contracts to Commercial Portfolio (%) 1.82% 1.31% 1.18% 1.22% 1.33% 1.73% 1.89%
Non-Performing Loans to gross Loan Portfolio (%) 0.65% 0.00% 0.05% 0.06% 0.78% 1.09% 1.14%
Allowance for expected credit losses on loans, loan commitments and
financial guarantee contracts to Non-Performing Loans (x times) 3.0 0.0 25.0 21.7 1.8 1.7 1.8
Efficiency Ratio 36% 42% 41% 32% 30% 27% 29%
Market Capitalization 596 822 1,081 1,167 1,010 1,153 1,088
Total assets 6,360 6,756 7,471 8,022 8,286 7,181 7,067
Tier 1 Capital Ratio Basel III (Basel I for years 2011-2013) 18.6% 17.9% 15.9% 15.5% 16.1% 17.9% 19.0%
Leverage 8.4 8.2 8.7 8.8 8.5 7.1 6.9
Performance
Efficiency
Scale &
Capitalization
Portfolio Quality
Results (*)

18. Bladex Value Proposition to Shareholders
 Bladex offers investors access to
an entire continent with improving
long-term growth prospects
 Business model provides diversified
exposure to emerging markets, but
with well mitigated credit quality,
market, & operational risks
 Book value growth underpins share
price
 Committed to total shareholder
return (“TSR”). Attractive dividend
yield (steadily above 5%) with a
pay-out target that preserves a
robust capital base
 Attractive 12-month forward
consensus valuations as of March
31, 2017:
 10.6x P/E
 1.1x P/BV
18
Dividends per Share
BLX Stock Price and Volume Evolution

19. Investment Highlights
19
Diversified Commercial Portfolio
with Robust Asset Quality
Defined Strategy to Achieve
Sustainable Growth
Diversified Funding & Conservative
Liquidity Management
Experienced Management and
Conservative Risk Management
Practices
Compelling Returns sustained
by Strong and Reliable
Performance Metrics
Leading Franchise in LatAm
with Solid Track Record
 Trade Finance Bank with 37 years
covering LatAm
 Investment Grade Profile with
Strong and Unique Shareholding
Structure
 Deep knowledge of LatAm with
core in trade finance
 Strategically positioned to identify
and deliver on growth
opportunities
 Portfolio strategy focused on
diversification and sustainable
growth
 Strong asset quality
management
 Increased diversification of regional
and global funding sources
 Advanced liquidity management
operating under Basel III framework
 Sustained income growth
 Fee generation growth through
diversification
 Continued efficiency gains
 Attractive returns though the
cycle
 Seasoned senior management
 World-Class standards in
Corporate Governance, focused
on enterprise-wide risk
management

20. 20
Balance Sheet
Financial Information corresponding to the year 2014-2017 were prepared in accordance with International Financial Reporting Standards (IFRS) as issued by IASB. Bladex
completed its transition process to IFRS from US-GAAP in 2015.
20
(In US$ million)
31-Dec-2014 31-Dec-2015 31-Dec-2016 31-Mar-2017
Assets
Cash and cash equivalents $781 $1,300 $1,070 $1,274
Financial instruments:
At fair value through profit or loss 58 53 0 0
At fair value through OCI 339 142 31 24
Securities at amortized cost, net 55 108 77 66
Loans at amortized cost 6,686 6,692 6,021 5,739
Allowance for expected credit losses on loans (78) (90) (106) (110)
Unearned interest & deferred fees (9) (9) (7) (7)
Loans at amortized cost, net 6,600 6,592 5,907 5,622
At fair value - derivative financial instruments used for hedging - receivable 12 7 9 4
Other assets 178 83 87 87
Total assets $8,022 $8,286 $7,181 $7,067
Liabilities and stockholders' equity
Total deposits $2,507 $2,795 $2,803 $3,181
At fair value - derivative financial instruments used for hedging - payable 40 30 60 54
Securities sold under repurchase agreements 301 114 0 0
Short-term borrowings and debt 2,693 2,430 1,470 762
Long-term borrowings and debt, net 1,400 1,882 1,777 2,003
Allowance for expected credit losses on loan commitments and financial guarantee contracts 10 5 6 6
Other liabilities 162 57 54 54
Total stockholders' equity 911 972 1,011 1,019
Total liabilities and stockholders' equity $8,022 $8,286 $7,181 $7,067

21. 21
Profit and Loss
21
Financial Information corresponding to the year 2014-2017 were prepared in accordance with International Financial Reporting Standards
(IFRS) as issued by IASB. Bladex completed its transition process to IFRS from US-GAAP in 2015.
(In US$ thousand) 2014 2015 2016 1Q17
Interest income $212,898 $220,312 $245,898 $59,131
Interest expense 71,562 74,833 90,689 24,699
Net Interest Income 141,336 145,479 155,209 34,432
Other income
Fees and commissions, net 17,502 19,200 14,306 3,269
Derivate financial instruments and foreign currency exchange 208 (23) (486) 131
Gain (loss) per financial instrument at fair value through profit or loss 2,361 5,731 (2,883) (60)
Gain (loss) per financial instrument at fair value through OCI 1,871 363 (356) 114
Gain on sale of loans at amortized cost 2,546 1,505 806 86
Other income, net 1,786 1,603 1,378 354
Net other income 26,274 28,379 12,764 3,894
Total Income 167,610 173,858 167,974 38,326
Expenses
Impairment loss from expected credit losses on loans at amortized cost 6,782 17,248 34,760 3,953
Impairment loss from expected credit losses on investment securities 1,030 5,290 3 (454)
Impairment loss (gain) from expected credit losses on loan commitments and financial guarantee contracts3,819 (4,448) 352 163
Operating expenses
Salaries and other employee expenses 31,566 30,435 25,196 6,696
Depreciation of equipment and leasehold improvements 1,545 1,371 1,443 431
Amortization of intangible assets 942 596 644 202
Professional services 5,177 4,621 4,255 613
Maintenance and repairs 1,544 1,635 1,866 466
Other expenses 12,839 13,126 12,412 2,798
Total operating expenses 53,612 51,784 45,816 11,207
Total Expenses 65,243 69,874 80,930 14,869
Profit for the Period $102,366 $103,983 $87,044 $23,458

22. PANAMA
HEAD OFFICE
Torre V, Business Park
Ave. La Rotonda, Costa del Este
Apartado 0819-08730
Panamá, República de Panamá
Tel: (507) 210-8500
ARGENTINA
Av. Corrientes 222 –P.18º
(1043AAP) Capital Federal
Buenos Aires, Argentina
Tel: (54-11) 4331-2535
Contact: Federico Pérez Sartori
Email: fpsartori@bladex.com
BRAZIL
Rua Leopoldo Couto de Magalhäes
Junior 110, 1º andar
04542-000, Sao Paulo, Brazil
Tel: (55-11) 2198-9606
Contact: Roberto Kanegae
Email: rkanegae@bladex.com
MEXICO
MEXICO CITY
Rubén Darío 281, piso 15, Oficina #1501
Colonia Bosque de Chapultepec
CP. 11580, México D.F.
Tel: (52-55) 5280-0822
Contact: Alejandro Barrientos
Email: abarrientos@bladex.com
PERU
Dean Valdivia 243
Piso 7, Oficina 701
San Isidro, Lima
Tel: (511) 207-8800
Contact: Federico Field
Email: ffield@bladex.com
COLOMBIA
Calle 113 # 7-45
Edificio Teleport Business Park
Torre B, Oficina 1008
Bogotá, Colombia
Tel: (57-1) 214-3677
Contact: Camilo Alvarado
Email: calvarado@bladex.com
UNITED STATES
NEW YORK AGENCY
10 Bank Street, Suite 1220
White Plains, NY 10606
Tel: (001) 914-328-6640
Contacto: Pierre Dulin
Email: pdulin@bladex.com
Regional Presence
in Latin America
Investor Relations Contact
Irma Garrido Arango – SVP, Corporate
Development & Investor Relations
E-mail: igarrido@bladex.com
Tel.: (+507) 210-8559