Bladex Quarterly Earnings 4Q2021

1. 1
Banco Latinoamericano de Comercio Exterior, S.A.
(“Bladex”)
4Q21 Earnings Presentation
February 22, 2022

2. 2
This presentation 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: “anticipate”, “intend”, “plan”, “goal”, “seek”, “believe”, “project”, “estimate”, “expect”, “strategy”,
“future”, “likely”, “may”, “should”, “will” and similar references to future periods. The forward-looking statements in this
presentation include the Bank’s financial position, asset quality and profitability, among others. 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 coronavirus (COVID-19) pandemic and
government actions intended to limit its spread; 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. 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.

3. 3
Higher quarterly profits (up 28% QoQ and 27% YoY) on strong loan origination and Credit Portfolio growth
(up 6% QoQ and 24% YoY) coupled with higher lending spreads and increased fee income
Stable quarterly dividends at 25 cents per share were declared by our Board, representing 46% of quarterly
earnings
Stable operating expenses QoQ, up 2% from prior year’s low pandemic levels
Strong asset quality, with close to zero percent NPLs to total loans. Credit loss provisions mostly associated
to credit growth
Completion of the open market stock repurchase program for a total of $60 million at year-end, under which
3.6 million Class E common shares were repurchased at a volume-weighted average price per share of
$16.86 since its launching in mid-May of 2021.
Q4 Highlights: Best quarter since 2019
Revenues were up by 11% QoQ and 18% YoY on improved net interest income and solid fee income from the
re-activation of the transaction-based syndications business and sustained performance from LC’s activities

4. 4
(*) Includes prepayments and sales
Solid Commercial Portfolio´s quarterly growth, with new disbursements over $4.7 billion (+29% QoQ), leading to
higher end-of-period balances (+6% QoQ; +18% YoY), and higher average lending spreads (+8bps)
​
​ ​
​
5,292
(3,510)
3,953
5,735
895 (849)
759 805
30-Sep-21 Maturities * Disbursements 31-Dec-21
6,188 (4,359) +4,711 6,540
L+ 2.07% L+ 1.62%
Loan Portfolio
Qtr. Avg. Interest Rate
Total
L+ 1.75% L+ 2.15%
100%
collected
29%
Loan Origination
6%
Contingencies
Loans
(USD millions, except for %) - QoQ

5. 5
3% 3% 2%
2% 1% 1%
1% 1% 1%
1% 1% 1%
2% 2% 1%
0% 1% 2%
2% 2% 2%
3% 2% 2%
2% 2% 2%
3% 2% 2%
2% 2% 2%
3%
7% 5%
6%
7% 6%
3%
8%
6%
6%
7%
6%
7%
8%
11%
54%
44%
48%
5,551
6,188
6,540
-
1,000
2,000
3,000
4,000
5,000
6,000
7,000
31-Dec-20 30-Sep-21 31-Dec-21
Financial institutions
Oil and gas (Downstream)
Electric power
Metal manufacturing
Food and beverage
Oil and gas (Integrated)
Retail trade
Other services
Other manufacturing industries
Oil and gas (upstream)
Coffee
Wholesalers
Mining
Plastics and Packaging
Sugar
Grains and oilseeds
Other Industries <1%
1% 3% 4%
2% 2% 1%
2% 1% 2%
4% 3% 4%
4% 5% 4%
4% 5%
5%
6%
7%
7%
18%
18%
17%
14%
10%
13%
3%
2%
2%
1%
3%
2%
5%
4%
4%
6%
5%
6%
9%
8%
8%
10%
10%
10%
11%
14%
11%
5,551
6,188
6,540
-
1,000
2,000
3,000
4,000
5,000
6,000
7,000
-
1,000
2,000
3,000
4,000
5,000
6,000
7,000
31-Dec-20 30-Sep-21 31-Dec-21
Mexico
Chile
Non-Latam
Peru
Panama
Uruguay
T. & Tobago
Colombia
Brazil
Guatemala
Ecuador
Dominican Republic
Costa Rica
Paraguay
Argentina
Other Latam ≤ 1%
1% 3% 4%
2% 2% 1%
2% 1% 2%
4% 3% 4%
4% 5% 4%
4% 5%
5%
6%
7%
7%
18%
18%
17%
14%
10%
13%
3%
2%
2%
1%
3%
2%
5%
4%
4%
6%
5%
6%
9%
8%
8%
10%
10%
10%
11%
14%
11%
5,551
6,188
6,540
-
1,000
2,000
3,000
4,000
5,000
6,000
7,000
-
1,000
2,000
3,000
4,000
5,000
6,000
7,000
31-Dec-20 30-Sep-21 31-Dec-21
Mexico
Chile
Non-Latam
Peru
Panama
Uruguay
T. & Tobago
Colombia
Brazil
Guatemala
Ecuador
Dominican Republic
Costa Rica
Paraguay
Argentina
Other Latam ≤ 1%
Commercial Portfolio by Country
* Even though Colombia is still rated investment grade by one of the major credit
rating agencies, Bladex decided to classify it as non-investment grade following the
downgrades by the two remaining main credit rating agencies
The Commercial Portfolio’s growth was mainly focused on Financial Institutions (CO, GT and Non-Latam) and oil & gas
downstream mostly in Peru, still preserving sound credit quality through well diversified exposures with top-tier
clients across the Region
46%
IG*
54%
Non-IG
59%
IG
41%
Non-IG
43%
IG*
57%
Non-IG
6%
18%
Commercial Portfolio by Industry
6%
18%
QoQ Variation
$197MM, +30%
mainly in FIs (+54%)
Colombia
Mayor increases in:
$101MM, +33%
mainly in Oil & Gas
(Downstream) (+150%)
Peru
Mayor decrease in:
Mostly in FIs (+57% and
+59%, respectively)
Guatemala
and Non-
Latam
-$134MM, -16%
mainly in manufacture
sectors (-39%) and Food
and Beverage (26%)
Mexico

6. 6
202
-1
-6
-1
194
193
-5
134
251
58
631
395
825
0
100
200
300
400
500
600
700
800
900
0
100
200
300
400
500
600
700
800
900
31-Dec-20 1Q21 2Q21 3Q21 4Q21 31-Dec-21
53%
18%
8%
11%
10%
AAA
AA+
AA-
A+
A
Investment Portfolio Credit Rating
0.35%
Avg. Return
0.8 years
Avg. Term to
Maturity
2.39%
Avg. Return
2.4 years
Avg. Term to
Maturity
100%
IG
50%
IG
50%
Non-IG
Credit Investment Portfolio
HQLA Investment Portfolio (*)
(USD millions) - EoP
(*) HQLA refers to “High Quality Liquid Assets” in accordance with the specifications of the Basel Committee.
Credit Investment Portfolio’s continued increase aimed at complementing commercial initiatives; Stable HQLA*
Investment Portfolio enhancing liquidity yields
As of Dec21
2%
18%
30%
21%
11%
18%
0% BBB+
BBB
BBB-
BB+
BB
BB-
B

7. 7
1,016 1,038 1,013 992
166 116 294 261
1,543 1,604 1,545 1,740
1,636
392
746
2,010
2,888
3,139
3,379
3,036
7,250
6,289
6,977
8,038
-1,000
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
31-Dec-19 31-Dec-20 30-Sep-21 31-Dec-21
Deposits Repos and Short-term borrowings and debt
Long-term borrowings and debt, net Other Liabilities
Equity
3
1,016 1,038 1,013 992
166 116 294 261
1,543 1,604 1,545 1,740
1,636
392
746
2,010
2,888
3,139
3,379
3,036
7,250
6,289
6,977
8,038
-1,000
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
31-Dec-19 31-Dec-20 30-Sep-21 31-Dec-21
Deposits
Repos and Short-term borrowings and debt
Long-term borrowings and debt, net
Other Liabilities
Equity
20%,
1,353
30%,
2,021 22%,
1,402 14%,
864
13%,
820
12%,
823
1%, 79
1%, 96
4%, 234
6%, 395 6%, 389 8%, 523
78%,
5,337
68%,
4,486
72%,
4,566 78%,
4,916
80%,
5,068
78%,
5,232
1%
1%
2% 2% 1%
2%
6,823
6,627
6,311 6,289 6,375
6,723
-1,000
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
31-Mar-20 30-Jun-20 30-Sep-20 31-Dec-20 31-Mar-21 30-Jun-21
Cash and due from banks Investment Portfolio Loans Other
2
1
99 113 248 221
5,893
4,916
5,298
5,740
80
395
768
825
1,178
864
664
1,253
7,250
6,289
6,977
8,038
-1,000
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
0
1000
2000
3000
4000
5000
6000
7000
8000
31-Dec-19 31-Dec-20 30-Sep-21 31-Dec-21
Other Loans Investment Portfolio Cash and due from banks
(USD millions, except for %) - EoP
Total assets increased 15% QoQ and 28% YoY to $8 billion, surpassing 2019 pre-Covid levels, on the back of the
rebuilding of loan portfolio balances close to pre-pandemic levels, coupled with the constitution of the securities
portfolio. Resilient level of deposits and diversified funding sources with ample access to capital markets
Total Assets
(1) Loans refers to loans at amortized cost and loans at fair value through profit or loss
(2) Other Include Interest receivable securities; Allowance for securities losses; Interest receivable loans; Allowance for loan losses; Unearned interest and deferred fees
loans; Customers' liabilities under acceptances; Derivative financial instruments – assets; Equipment and leasehold improvements, net; Intangibles, net; Investment properties
and Other assets
Total Liabilities and Equity
15%
28%
(3) Other liabilities Includes Interest payable deposits; Interest payable borrowings and debt; Customers' liabilities under
acceptances; Derivative financial instruments – liabilities; Allowance for loan commitments and financial guarantee contract losses
and Other liabilities

8. 8
Improved 4Q21 profits (up 28% QoQ and 27% YoY) mostly driven by higher volumes and margins and increased fee
income (+31% QoQ; +123% YoY)
Profit for the Period
Net Interest Income
(USD
millions)
Total Revenues
Fees and Commissions Operating Expenses
(USD
millions)
15.7 15.7
20.1
4Q20 3Q21 4Q21
2.5 3.1 3.1
0.1
1.3
2.4
0.2
0.4
0.7
2.8
4.8
6.2
4Q20 3Q21 4Q21
Other commissions, net Loan syndication fees
Letters of credit
25.3 26.8 29.8
4Q20 3Q21 4Q21
22.3 22.1 24.8
4Q20 3Q21 4Q21
10.2 10.3 10.3
4Q20 3Q21 4Q21
28%
27%
11%
18%
12%
11%
31%
123%
Stable
2%

9. 9
86.1
63.6 62.7
2019 2020 2021
40.7
37.3
39.9
2019 2020 2021
9.5 9.0
12.1
5.6
0.6
4.3
0.5
0.8
1.9
15.6
10.4
18.3
2019 2020 2021
Other commissions, net Loan syndication fees
Letters of credit
126.7
99.2 104.2
2019 2020 2021
Annual profits relatively stable (-1% YoY) as higher top-line revenues (up 5% YoY) from net positive effect in volumes,
and increased fee income generation (+76% YoY), nearly offset the impact of lower market base rates and higher
operating expenses, back to pre-pandemic levels
Profit for the Period
Net Interest Income
(USD
millions)
Total Revenues
Fees and Commissions Operating Expenses
(USD
millions)
-1% 5%
6% 76% 7%
109.5
92.5 86.8
2019 2020 2021

10. 10
2.64%
1.28%
0.39%
2.54%
0.91%
0.33%
4.60%
3.48%
2.47%
3.10%
1.59%
0.96%
0.00%
1.00%
2.00%
3.00%
4.00%
5.00%
2019 2020 2021
Loans - Base rate Financial Liabilities - Base Rate
Loans - Total Rate Financial Liabilities - Total Rate
1.50%
1.89%
1.50%
Loans *
Financial
Liabilities
Investment
Portfolio
Cash and
due from
banks
5,224
5,463
90
756
5,476
4,890
157
1,502
5,535
5,189
566
831
2020
2021
2019
2020
2021
2019
2020
2021
2019
2020
2021
2019
Average Balances
* Gross of unearned interest and deferred fees. Includes NPLs effect
VOLUMES
RATES
FY21 NII down 6% YoY resulting from the net rate effect of lower market base rates on the Bank’s assets and liabilities,
partly offset by higher average credit portfolio balances and improved interest-earning assets mix
89bps
YoY Volume-Rate Variation Analysis
Volume Net Variation
Effect
+$19.9MM
Rate Net Variation
Effect
-$25.6MM
Total NII
Variation:
-$5.7MM
6% YoY
+1% YoY
≈
261% YoY
-45% YoY

11. 11
(USD million) 31-Dec-20 31-Mar-21 30-Jun-21 30-Sep-21 31-Dec-21
Allowance for losses
Balance at beginning of the period $44.9 $44.6 $44.6 $46.1 $46.9
Provisions (reversals) (0.3) 0.0 1.3 0.8 0.2
Write-offs, net of recoveries 0.0 0.0 0.2 0.0 0.0
End of period balance $44.6 $44.6 $46.1 $46.9 $47.1
11 11 11
0
2
4
6
8
10
12
14
16
18
20
31-Dec-20 30-Sep-21 31-Dec-21
94%
97% 98%
6%
3% 2%
0%
0% 0%
5,946
6,956
7,365
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
-
2,000
4,000
6,000
8,000
10,000
31-Dec-20 30-Sep-21 31-Dec-21
Strong asset quality with no new NPLs during the year and the decrease of credits in IFRS 9 - Stage 2 category (with
increased credit risk) to 2% of the total (-4p.p. YoY). Annual credit loss provisions totaling $2.3 million were mostly
associated to credit growth
Allowance for Credit Losses Credit Impaired Loans
(USD millions, except for %)
(USD millions, except for %)
Total Allowance for
Losses to Credit Portfolio 0.7% 0.6%
Allowance for Losses to
Stages 1 + 2 0.7% 0.6%
0.7%
0.6%
Allowance for Losses 44.6 47.1
46.9
Credit Portfolio
(1) Includes allowance for expected credit losses on loans at amortized cost, on loan commitments and financial guarantees contracts, and on securities at amortized cost and at fair
value through other comprehensive income.
1
Total allowance for losses
to Credit impaired loans
Credit impaired loans
to Loan Portfolio
4.2x 4.4x
4.4x
0.2% 0.2%
0.2%
▪ Current NPLs related to the retail trade business
At and for the three months ended
Stage 3 (credit impaired)
Stage 2 (increased risk)
Stage 1 (low risk)

12. 12
6.3
16%
2.2
5%
31.2
79%
Class A
6.3
17%
Class B
2.1
6%
Class E
27.8
77%
Stockholder's Composition
31Dec21 (36.2 MM) vs 31Dec20 (39.7 MM)
0.25 0.25 0.25
6.5%
6.0%
5.6%
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
7.0%
8.0%
$0
$0
$0
$0
$0
$1
$1
2Q21 3Q21 4Q21
Declared dividends per share
Annualized return / Average price per share
1,031 1,013 992
18.2%
16.9%
15.6%
23.6%
21.3%
19.1%
-10.0%
-5.0%
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
800
850
900
950
1,000
1,050
1,100
1,150
30-Jun-21 30-Sep-21 31-Dec-21
Equity SBP Regulatory Capital Adequacy
Tier 1 Capital Ratio (Basel III)
Capitalization
(1) As defined by the SBP, in which risk-weighted assets are calculated under the Basel Standardized Approach for Credit Risk. The minimum Regulatory Total Capital Adequacy Ratio should be of no less than 8.0% of total risk-weighted assets..
(2) 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, utilizing internal-ratings based approach or “IRB” for credit risk and standardized
approach for operational risk.
Dividends
(USD millions, except for %) - EoP
1
2
Solid capitalization continues to be a fundamental component for the Bank’s future growth opportunities in a post-
pandemic environment
Pay-out
Ratio
70% 46%
62%
Stock Repurchase Program
Completion of the open market stock
repurchase program for a total of $60
million at year-end, under which 3.6
million Class E common shares were
repurchased at a volume-weighted
average price per share of $16.86 since
its launching in mid-May of 2021.
At 31-Dec-21
At 31-Dec-20

13. 13
“We believe that our 40-year experience in the Region, including several negative credit cycles,
and our good understanding of the impacts and macroeconomic dynamics in every country, play
to our advantage. We are committed to continue to support our clients, for whom we have been
long-standing allies.”
-Jorge Salas, CEO
Thank You!