Bladex Earning Results Presentation 1Q 2019

1. 1Q19 Earnings Results Presentation
April 17, 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 context: A significant deceleration in Europe and China
continue to make the US dollar attractive, leading to lower fund
flows to emerging markets in general, and Latin America in
particular.
Regional context: A more challenging political and economic
environment for some key countries in Latin America, and the
prospect of declining trade volumes and other impacts from trade
tension continuing offers no room for complacency.
Bladex 1Q19: Stable revenues and lower expenses in a seasonally
slow quarter, with higher profitability and a solid credit portfolio.
3
General Overview

4. Quarterly Profit Evolution
4
30.7
(1.9)
0.0
(14.3)
14.5
34.1
1.3
(2.3)
(12.4)
20.7
32.1
(0.9)
0.0
(9.9)
21.2
Total revenues (Impairment loss)
recovery on financial
instruments
Impairment loss on non-
financial assets
Operating expenses Profit for the period
(US$Million)
1Q18 4Q18 1Q19

5. Net Interest Income & Financial
Margins
5
Note: Other include interest on Credit Impaired loans and interest expense resulting from the implementation of the IFRS16/Leasing.
26.6 28.0 28.0
1.68% 1.61% 1.74%
-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
$5
$10
$15
$20
$25
$30
1Q18 4Q18 1Q19
Net Interest Income Net Interest Margin
Net Interest Income & Margins
(In US$ million, except percentages)
3.58%
4.21%
4.50%
2.32%
3.13%
3.35%
1.26% 1.08% 1.16%
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
4.0%
4.5%
5.0%
1Q18 4Q18 1Q19
Yield on Interest-Earning Assets
Cost of Interest-Bearing Liabilities
Net Interest Spread
Net Interest Spread
1Q18 Volume Rate Other 1Q19
NII & NIM - YoY variation effects
($ millions, except %)
NII: $26.6MM
(NIM: 1.68%)
NII: $28.0MM
(NIM: 1.74%)
Total Variation: +$1.4MM in NII or +6bps in NIM
-$0.3MM +$2.2MM -$0.5MM
4Q18 Volume Rate Other 1Q19
NII & NIM - QoQ variation effects
($ millions, except %)
NII: $28.0MM
(NIM: 1.61%)
NII: $28.0MM
(NIM: 1.74%)
Total Variation: +$0.0MM in NII or +13bps in NIM
-$0.1MM +$0.6MM -$0.5MM

6. Loan Origination and Maturities
6
* Represents the spread over the Libor-based rate corresponding to the tenor of the transaction of the Performing Loan Portfolio.
5,582 5,404 5,524 5,724 5,567
2.05 2.01 1.93 1.97 1.99
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
1Q18 2Q18 3Q18 4Q18 1Q19
0.00
0.50
1.00
1.50
2.00
2.50
Loan Portfolio AverageEvolution
Average Balance Lending Credit Spread (%) *
3,549
4,278
3,329 3,148
2,653
3,829 3,948
3,159 3,039 2,952
101 227 232 211 182
-100,000
-80,000
-60,000
-40,000
-20,000
0
$0
$1,000
$2,000
$3,000
$4,000
$5,000
$6,000
1Q18 2Q18 3Q18 4Q18 1Q19
(US$Million)
Performing Loan Originationand Maturities
Loan Origination ($MM) Loan Maturities ($MM) Loan Origination Average Term (Days)

7. Fees & Commission Income
7
391
335
410
35 157
87426
492 498
1Q18 4Q18 1Q19
Average loan commitments and financial
guarantee contracts
(In US$ million)
Letters of Credit Credit commitments and guarantees
3.0 3.5
2.4
0.0
1.9
0.0
3.1
5.4
2.4
1Q18 4Q18 1Q19
Fees and Commissions,net
(In US$ million)
Loan structuring and distribution fees
Letters of credit and other contingent credits

8. Commercial Portfolio Composition
8
3,648
4,200
3,954
2,084 2,090 2,052
31-Mar-18 31-Dec-18 31-Mar-19
CommercialPortfolio by Client Type
(EoP balances, in US$ million)
FIs & Sovereigns Corporations
18%
15%
12%
9%
9%
7%
7%
5%
5%
4%
2%
2%
1%
1%
1%
2%
Brazil
Mexico
Colombia
Argentina
Panama
Dominican Republic
Ecuador
Costa Rica
Guatemala
Chile
Paraguay
Trinidad & Tobago
Peru
El Salvador
Honduras
Other non-LatAm and < 1%
Commercial Portfolio byCountry
31-Mar-2018
31-Dec-2018
31-Mar-2019
55%
6%
5%
4%
3%
3%
3%
3%
3%
2%
2%
2%
1%
1%
1%
1%
1%
1%
1%
1%
1%
Financial Institutions
Oiland Gas (Integrated)
Electric Power
Food and Beverage
Sugar
Metal Manufacturing
Other Services
Retail Trade
Plastics and Packaging
Airlines
Other Manufacturing Industries
Grains and Oilseeds
Oiland Gas (Downstream)
Sovereign
Shipping
Paper
Coffee
Wholesalers
Oiland Gas (Upstream)
Construction and Infrastructure
Mining
Commercial Portfolio byIndustry
31-Mar-2018
31-Dec-2018
31-Mar-2019
56%
44%
Short-term Commercial Portfolio
by Trade Indicator
(As of March 31, 2019)
Trade
Non-Trade
18%
15%
12%
9%
9%
7%
7%
5%
5%
4%
2%
2%
1%
1%
1%
2%
Brazil
Mexico
Colombia
Argentina
Panama
Dominican Republic
Ecuador
Costa Rica
Guatemala
Chile
Paraguay
Trinidad & Tobago
Peru
El Salvador
Honduras
Other non-LatAm and < 1%
Commercial Portfolio byCountry
31-Mar-2018
31-Dec-2018
31-Mar-2019

9. Commercial Portfolio - Country Specific
(As of March 31, 2019)
9
Brazil Argentina
Mexico Costa Rica
80%
20%
By Remaining Term
Maturities up to 1 year
Maturities greater than 1 year
59%21%
15%
5%
By Client Type
Private FIs
State-owned FIs
Private
Corporations
State-owned
corporations
26%
5%
33%
36%
By Client Type
Private FIs
State-owned FIs
Private
Corporations
State-owned
corporations
69%
31%
By Remaining Term
Maturities up to 1 year
Maturities greater than 1 year
78%
22%
By Remaining Term
Maturities up to 1 year
Maturities greater than 1 year
40%
15%
45%
0%
By Client Type
Private FIs
State-owned FIs
Private
Corporations
State-owned
corporations
18%
0%
68%
14%
By Client Type
Private FIs
State-owned FIs
Private
Corporations
State-owned
corporations
71%
29%
By Remaining Term
Maturities up to 1 year
Maturities greater than 1 year

10. Credit Quality
Credit Impaired Loans and Allowance for Losses
10
96%
4%
Credit Impaired Loans by
Industry Risk
(As of March 31, 2019)
Sugar
Food and
Beverage
Commercial Portfolio 5,731 6,054 6,305 6,290 6,006
Total Allowance for Losses 90.1 87.4 142.5 104.1 105.0
Total Allowance for Losses to Commercial Portfolio 1.57% 1.44% 2.26% 1.65% 1.75%
Stage 1 Exposure 5,185 5,669 5,948 5,836 5,482
Allowance for Losses 24 37 40 38 30
Allowance for Losses / Stage 1 Exposure 0.46% 0.65% 0.67% 0.65% 0.54%
Stage 2 Exposure 488 331 237 389 459
Allowance for Losses 36 24 13 17 21
Allowance for Losses / Stage 2 Exposure 7.34% 7.34% 5.67% 4.26% 4.68%
Stage 3 Exposure 59 54 119 65 65
Allowance for Losses 30 26 89 49 54
Allowance for Losses / Stage 3 Exposure 51.46% 48.32% 74.98% 76.41% 83.06%
Mar-19Jun-18
STAGE 1
STAGE 2
STAGE 3
TOTAL
(US$ million, except percentages) Dec-18Sep-18Mar-18

11. Operating Expenses & Efficiency
11
(US $ million, except percentages) 1Q19 4Q18 1Q18 QoQ (%) YoY (%)
Operating expens es
S alaries and other em ployee expens es 6.3 6.6 10.1 -4% -37%
D epreciation of equipm ent and leas ehold
im provem ents
0.7 0.3 0.3 113% 114%
Am ortization of intangible as s ets 0.2 0.2 0.3 -1% -51%
Other expens es 2.7 5.3 3.6 -49% -24%
T otal Operating Expens es $9.9 $12.4 $14.3 -20% -31%
Effic ienc y Ratio 30.8% 36.3% 46.6% -15% -34%
30.7 34.1 32.1
(14.3) (12.4) (9.9)
46.6%
36.3%
30.8%
-50.0%
-40.0%
-30.0%
-20.0%
-10.0%
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
-25
-15
-5
5
15
25
35
45
55
65
1Q18 4Q18 1Q19
Efficiency
(In US$ million, except percentages)
Total revenues Operating expenses Efficiency Ratio

12.  Quarterly profit of $21.2 million continues the positive
trend from 4Q18 and highest level of the last 8 quarters.
 Stable quarterly NII, mostly on higher margins (NIM).
 Efficiency improved to the earmarked 30.8%.
 Stable level of credit impaired loans and allowances for
losses.
 Robust capitalization (20.1% Basel III Tier 1).
1Q19
1Q19 Highlights
Financial Performance Overview
12

13. Questions & Answers
13