Blx 4q18 and full year 2018 results presentation

1. 4Q18 and Full Year 2018
Results Presentation
February 28, 2019

2. 2
This presentation contains forward-looking statements of expected future developments within the meaning of the Private
Securities Litigation Reform Act of 1995. The forward-looking statements in this presentation include the growth of the credit
portfolio, including the trade portfolio, the increase in the number of the Bank’s corporate clients, the trend of lending spreads,
changes in activities engaged in by the Bank that are derived from the Bank’s client base, anticipated operating results and
return on equity in future periods, including income derived from the Treasury Business Segment, and changes in the financial
and performance strength of the Bank. These forward-looking statements reflect the expectations of the Bank’s management
and are based on currently available data; however, actual performance and results are subject to future events and
uncertainties, which could materially impact the Bank’s expectations. Among the factors that can cause actual performance and
results to differ materially are as follows: the anticipated changes in the Bank’s credit portfolio; the continuation of the Bank’s
preferred creditor status; the impact of increasing/decreasing 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 expected credit losses; the need for additional allowance for
expected credit losses; the Bank’s ability to achieve future growth, 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
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. 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.

3. Global risks are intensifying. Possible economic slowdowns in China, the
United States and Europe add to the uncertainty of protectionism and trade
tariffs.
A more dovish outlook at the Federal Reserve for future rate increases and
for reducing its balance sheet.
Less pressure for the US dollar to strengthen in 2019.
Recomposition of capital flows to emerging markets.
Growth in Latin America is recovering, although more gradually than
previously expected.
Region will face a less favorable global environment: lower world growth
and potential greater volatility on commodities prices.
3
Global Context

4. Profits Evolution
4
20.6
14.5 16.6
(40.7)
20.7
-$50
-$40
-$30
-$20
-$10
$0
$10
$20
$30
4Q17 1Q18 2Q18 3Q18 4Q18
(US$Million)
Quarterly Profit (Loss)
Annual Profit (Loss)138.3
(9.4)
0.0
(46.9)
82.0
127.6
(57.5)
(10.0)
(48.9)
11.1
Revenues Impairment loss on
financial instruments
Impairment loss on non
financial assets
Operating expenses Profit for the Period
(US$Million)
2017 2018
4

5. Net Interest Income & Financial Margins
5
28.1 27.3 28.0
119.8
109.7
1.78% 1.74% 1.61% 1.85% 1.71%
-3.00%-2.90%-2.80%-2.70%-2.60%-2.50%-2.40%-2.30%-2.20%-2.10%-2.00%-1.90%-1.80%-1.70%-1.60%-1.50%-1.40%-1.30%-1.20%-1.10%-1.00%-0.90%-0.80%-0.70%-0.60%-0.50%-0.40%-0.30%-0.20%-0.10%0.00%0.10%0.20%0.30%0.40%0.50%0.60%0.70%0.80%0.90%1.00%1.10%1.20%1.30%1.40%1.50%1.60%1.70%1.80%1.90%2.00%2.10%2.20%2.30%2.40%2.50%2.60%2.70%
$0
$20
$40
$60
$80
$100
$120
$140
4Q17 3Q18 4Q18 2017 2018
Net Interest Income Net Interest Margin
Net Interest Income & Margins
(In US$ million, except percentages)
3Q18 Volume Rate NPL's 4Q18
NII & NIM - QoQ variation effects
(In US$ million, except percentages)
NII: $27.3MM
(NIM: 1.74%)
NII: $28MM
(NIM: 1.61%)
Total variation: +$0.7MM in NII or -13bps in NIM
-$0.7MM +$0.1MM +$1.3MM
2017R Volume Rate NPL's 2018R
NII & NIM - YoY variation effects
(In US$ million, except percentages)
NII: $119.8MM
(NIM: 1.85%)
NII: $109.7MM
(NIM: 1.71%)
Total variation: -$10.1MM in NII or -14bps in NIM
+$1.3MM
-$10.5MM -$0.9MM
3.48%
4.09% 4.21%
3.43%
3.97%
2.10%
2.89%
3.13%
1.95%
2.76%
1.38% 1.20%
1.08%
1.48%
1.21%
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
4.0%
4Q17 3Q18 4Q18 2017 2018
Yield on Interest-Earning Assets
Cost of Interest-Bearing Liabilities
Net Interest Spread
Net Interest Spread

6. Loan Origination and Maturities
6
5,459 5,524 5,724
2.26
1.93 1.97
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
4Q17 3Q18 4Q18
0.00
0.50
1.00
1.50
2.00
2.50
Loan Portfolio Average Evolution
Average Balance Lending Credit Spread (%) *
* Represents the spread over the Libor-based rate corresponding to the tenor of the transaction.
3,719
3,329
3,148
3,556
3,159 3,094
206 233 211
-
50
100
150
200
250
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
4Q17 3Q18 4Q18
Loan Origination and Maturities
Loan origination ($MM) Loan maturities ($MM) Average Term (days)

7. Fees & Commission Income
7
378 352 335 335 371
9
162 157
17
98387
514 492
351
469
4Q17 3Q18 4Q18 2017 2018
Average loan commitments and financial
guarantee contracts
(In US$ million)
Letters of Credit Credit commitments and guarantees

8. Commercial Portfolio Composition
8
 Diversified country
exposure
52%
10%
5%
5%
3%
3%
3%
3%
2%
2%
2%
2%
1%
1%
1%
1%
1%
1%
1%
1%
Financial Institutions
Oil and Gas (Integrated)
Electric Power
Food and Beverage
Sugar
Metal Manufacturing
Other Services
Retail Trade
Grains and Oilseeds
Airlines
Plastics and Packaging
Other Manufacturing Industries
Coffee
Sovereing
Shipping
Paper
Oil and Gas (Upstream)
Wholesalers
Oil and Gas (Downstream)
Construction and Infrastructure
Commercial Portfolio by Industry 31-Dec-2017
31-Dec-2018
68% 65% 64%
13% 10% 10%
19%
25% 26%
31-Dec-2017 30-Sep-2018 31-Dec-2018
Commercial Portfolio
by Term
Short-term
Medium & Long-term (current)*
Medium & Long-term
*Matures
w ithin one
year
19%
14%
11%
10%
8%
7%
6%
5%
5%
3%
3%
2%
1%
1%
1%
1%
1%
2%
Brazil
Mexico
Colombia
Argentina
Panama
Ecuador
Costa Rica
Guatemala
Dominican Republic
Chile
Paraguay
Trinidad & Tobago
Honduras
Peru
El Salvador
Singapore
Germany
Other < 1%
Commercial Portfolio by Country31-Dec-2017
31-Dec-2018
59%
41%
Short-term Commercial Portfolio
by Trade Indicator
(As of December 31, 2018)
Trade
Non-Trade
3,251
3,293
3,714
4,200
3,904
3,151
2,285
2,090
2015 2016 2017 2018
Commercial Portfolio by Client Type
(EoP balances, in US$ million)
FIs & Sovereigns Corporations

9. Commercial Portfolio
Country Specific
(As of December 31, 2018)
9
Brazil Argentina
Mexico Costa Rica
67%
33%
By Remaining Term
Maturities up to 1 year
Maturities greater than 1 year
69%
31%
By Remaining Term
Maturities up to 1 year
Maturities greater than 1 year
37%
21%
42%
0%
By Client Type
Private FIs
State-owned FIs
Private
Corporations
State-owned
corporations
14%
0%
61%
25%
By Client Type
Private FIs
State-owned FIs
Private
Corporations
State-owned
corporations
63%
37%
By Remaining Term
Maturities up to 1 year
Maturities greater than 1 year
84%
16%
By Remaining Term
Maturities up to 1 year
Maturities greater than 1 year
20%
6%
37%
37%
By Client Type
Private FIs
State-owned FIs
Private
Corporations
State-owned
corporations

10. Credit Quality
NPL and Allowance for Credit Loses
10
Commercial Portfolio 5,999 5,731 6,054 6,305 6,290
Total Allowance for Credit Losses 88.1 90.1 87.4 142.5 104.1
Total Allowance for Credit Losses to Commercial Portfolio 1.47% 1.57% 1.44% 2.26% 1.65%
Stage 1 Exposure 5,274 5,185 5,669 5,948 5,836
Total Allowance for Credit Losses 21 24 37 40 38
Allowance for Credit Losses / Stage 1 Exposure 0.40% 0.46% 0.65% 0.67% 0.65%
Stage 2 Exposure 666 488 331 237 389
Total Allowance for Credit Losses 39 36 24 13 17
Allowance for Credit Losses / Stage 2 Exposure 5.85% 7.34% 7.34% 5.67% 4.26%
Stage 3 Exposure 59 59 54 119 65
Total Allowance for Credit Losses 28 30 26 89 49
Allowance for Credit Losses / Stage 3 Exposure 47.64% 51.46% 48.32% 74.98% 76.41%
Jun-18
STAGE 1
STAGE 2
STAGE 3
TOTAL
(US$ million, except percentages) Dec-18Sep-18Dec-17 Mar-18

11. Operating Expenses & Efficiency
11
(US$ million, except percentages) 2018 2017 YoY (%) 4Q18 3Q18 4Q17 QoQ (%) YoY (%)
Operating expenses
Salaries and other employee expenses 28.0 27.7 1% 6.6 5.2 7.3 27% -10%
Depreciation of equipment and leasehold improvements 1.3 1.6 -19% 0.3 0.3 0.4 3% -20%
Amortization of intangible assets 1.2 0.8 40% 0.2 0.3 0.3 -51% -42%
Other expenses 18.5 16.8 10% 5.3 5.0 5.1 6% 4%
Total Operating Expenses $48.9 $46.9 4% $12.4 $10.9 $13.1 14% -6%
Efficiency Ratio 38.3% 33.9% 13% 36.3% 36.0% 38.0% 1% -4%
34.5 30.1 34.1 138.3 127.6
(13.1) (10.9) (12.4)
(46.9) (48.9)
38.0%
36.0% 36.3%
33.9%
38.3%
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
30.0%
35.0%
40.0%
45.0%
50.0%
-35
-15
5
25
45
65
85
105
4Q17 3Q18 4Q18 2017 2018
Efficiency
(In US$ million, except percentages)
Revenue Operating expenses Efficiency Ratio

12.  Return to profitability
 Positive trend in top line revenues
 Higher portfolio average balances
 Normalization of credit provisioning
 Proactive management of NPL
portfolio
4Q18
4Q18 and Full Year 2018 Highlights
Financial Performance Overview
 Impacted by credit impairments
 Non-recurring restructuring and
optimization charges
 Improved quality of commercial
portfolio
 Solid capitalization
 Dividend per share maintained YoY
FY18
12

13. Questions & Answers
13