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Bladex Corporate Presentation As of June 30, 2015

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The Latin American Trade Finance Bank

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

A Leading Franchise with a Solid Track Record

The Latin America Trade Finance Bank Key Financial Highlights

Remarkable Trajectory: + 35 years of Success

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)

Currently rated Baa2 / BBB / BBB+, all with Stable outlook

Class “A” shareholders (Central Banks or designees from 23

Latin America (“LatAm”) countries) provide substantial support

and represent a direct link between the Bank and the governments

of Latin America

Multi-national DNA embedded in its ownership structure,

management and culture

Current Credit Ratings

FY2014 YoY (%)

Net Income (mm): $106.9 +26%

Net Interest Income (mm): $141.1 +15%

Return on Average Equity: 12% 10%(2)

Gross Loans (mm): $6,686 +9%

Total Assets (mm): $8,025 +7%

Total Deposits (mm): $2,507 +6%

Market Capitalization (mm): $1,167(1) +8%

Asset Quality (non-accruing loans

to commercial portfolio):

0.06% 0.05%(2)

1988

1992

2003

2005

2009

2014

Following incorporation in 1978, Bladex initiated its operations in 1979 and issued its

first bond in the international capital markets

Bladex is granted a license to operate as an agency by the New York State

Banking Authorities

Bladex is the First Latin American bank registered with the SEC for its IPO,

establishing a full listing on the NYSE

Bladex conducts a Common Stock Rights Offering, with stand-by

commitments issued by a group of Class A shareholders and multilateral

organizations

Bladex launches its client diversification strategy into trade-oriented

corporations; expansion of its suite of products and services

Bladex initiates funding diversification strategy: increase in central bank

deposits, local & international debt sales, syndicated loan facilities

Bladex cooperates with the International Finance Corporation to

establish the first critical commodities finance facility in Latin America

(1) As of December 31, 2014; (2) As of December 31, 2013

1979 Moody’s Fitch S&P

Date of Rating Dec. 2007 Jul. 2012 May 2008

Date of Confirmation Nov. 2014 Jul. 2015 Jul. 2015

Short-Term P-2 F2 A-2

Long-Term Baa2 BBB+ BBB

Perspective Stable Stable Stable

3

Strong and Unique Shareholder Structure

A unique shareholding 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 constituting 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

Class A – Central Banks or

designees from 23 LatAm countries

Class B – LatAm & international

banks and financial institutions

Class E – Public Float (NYSE listed)

4

Out of 10 directors, 9 are

independent and one represents the

Bank‟s management (CEO)

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

Pan Regional

Reach

Product & Market

Expertise

Agility &

Efficiency

Client Focused

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 workflows

LEAN, client focused culture with a single point of contact

Providing client-specific solutions

Focused on long-term relationships

CLIENT

BASE

REGIONS

COUNTRIES

INDUSTRY

SECTORS

Financial Institutions

Among top 10 in all

countries

Corporate banking

activity

Corporations

Foreign exchange

generation capacity

Growth oriented beyond

domestic market

Among top 10 in

respective industry

sector

Corporate governance

Focus on Strategic Sectors for the Region

O&G, Agribusiness, Food processing, Manufacturing

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

Pre-export and

export finance

Import financing

Term loans and

revolving credit

facilities

Letters of credit

and guarantees

Banker's

acceptances

Tra

de F

inancin

g

Pre-export

financing with

contract

assignment and

other

guarantees

Vendor finance

(factoring,

reverse

factoring and

forfaiting)

Financing

guaranteed by

ECAs and/or

private

insurance

programs

Str

uctu

red T

rade S

olu

tions

Medium- and

long-term loans

Acquisition

finance

Trade-related

term loans

Trade & non-

trade revolving

credit facilities

Liability

management

Bridge loans

Syndic

ations

Leasing

Term loans

Guarantees

A/B financing

with

multilaterals

Working capital

loans

Fin

ancia

l Loans

Trade Non-Trade

Central

America

and the

Caribbean

Southern

Cone

Andean

Region

Mexico

Brazil

5

Business Model targets sustainable, superior

returns

Leverage Proven

Origination Capacity

LatAm GDP

Growth

LatAm Trade

Flow Growth

Bladex Client

Base Growth

Valued Products

& Services 3%+

ROAE

15%+

ROAE

12%+

ROAE

Bladex

Origination

Active

Portfolio

Management

~ 2%

NIM

~ 1.5%

ROAA

< 1.4%

Cost of Credit

< 30%

Efficiency

~ 10%

Growth

On-book Portfolio

> 13.5%

Tier 1 BIII

Target Consistent

Core Performance

Financial

Institutions Structuring

Partners Trade

Services

Distribution

Asset Distribution & Services

Fee Based

Services

Investors Other

Tap Additional

Income Sources

15%+

ROAE

12%+

ROAE

3%+

ROAE

6

Strategy Hones Strengths & Positions to Seize

Growth Opportunities

Develop Emerging Businesses

• Develop robust syndication

platform

• Expand diversified market

distribution capabilities

Risk sharing programs

Secondary market transactions

Securitization Platform

• Expand vendor finance and

leasing capabilities

Local vehicles (e.g. SOFOM in

Mexico)

Contribute towards sustainable 15% ROAE

Build New Businesses

• Explore adjacent markets &

establish pipeline of new business

activities in trade and regional

integration, such as:

Credit Insurance

Capital Market transactions

Structured Trade Finance

Trade-related Services

Factoring

Trade Infrastructure Project

Finance

Ensure Long Term Viability

Strengthen Core Business

• Improve Operating Efficiency

through LEAN Processes,

Structure & Organization

• Active credit portfolio

management

Achieve sustainable &

consistent return on equity

Improve quality of earnings

Achieve greater risk dispersion

• Expand Contingency Business

Develop Guarantee and L/C

Issuance Platform

Ensure sustainable 12% Core ROAE

+

+

7

Adhering to World-Class Standards

(*) Except for the Bank‟s Chief Executive Officer (CEO), all other

members of the Board of Directors are independent.

Board of Directors*

CEO

Commercial

Division

Internal Audit

Risk Policy and

Assessment Committee Finance & Business

Committee

Nomination

and Compensation

Committee

Audit and

Compliance Committee

Very high corporate governance

standards

Multiple regulators: FED, SEC,

NYSDFS, Superintendency of Banks

of Panama, and other entities

throughout the Region

Commercial

Division

8

Enterprise risk management &

externally certified internal audit

function

Internal alignment of corporate

culture, measurement system

and process management to

optimize total shareholder return

.

FIRST LINE

OF DEFENSE

Operating

Management

-------------------------

Front end &

enabling functions

THIRD LINE OF DEFENSE

Assurance

-------------------------

Audit function

Finance

Division

SECOND LINE OF DEFENSE

Monitoring

-------------------------

Risk function

Corporate Services Risk Management

Division

Mitigating Risk …

Reducing Risk within Improved Risk Profile in the Region

Contributing to the Growth and Prosperity of Latin America

• Improved risk perception of the LatAm

Region over the past 20 years

• Currently, 75% of the Credit Portfolio is

in investment-grade countries, compared

to 21% and 14% in 2003 and 1993,

respectively

• Accumulated credit disbursements of

$225 billion, with write-offs representing

only 0.12% of total credit disbursements

• Disbursement volumes surpass or rival

those of much larger institutions, both in

the private sector and multilaterals

9

… through a Sustainable Portfolio Strategy

Focused on Diversification …

10

Sustained Portfolio Growth Commercial Portfolio Composition

Commercial Portfolio By Country Commercial Portfolio By Industry

As of June 30, 2015

As of June 30, 2015 As of June 30, 2015

10

Reduced exposure to Brazil by 8

percentage points since 2011 to June 30,

2015

11

… and Focus on Asset Quality

Non-Performing Loans Evolution

Proven track record of strong asset quality, with significant risk mitigants:

• Low-risk asset class, with short-dated exposures, and superior loss performance

• US dollar based lending, no meaningful net FX exposures,

• Floating-rate lending & funding model minimizes interest rate risk exposure

• Conservative loss reserve methodology

• Pro-active loss prevention, and rigorous NPL monitoring process

• Diligent recovery processes 11

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, even during crises

• Deposits from central banks shareholders or designees

provide a resilient funding base. They represent 72% of

the Bank‟s total deposits as of June 30, 2015

• Focus on increased diversification of global and regional

funding sources on numerous relevant dimensions:

client base, geography and currency

• Broad access to funding through public and private debt

issuance programs in USD and other currencies

• Increased focus in medium and long-term funding to

match a growing asset base with similar characteristics

Deposits by Type of Client Diversified Funding Sources

As of June 30, 2015 As of June 30, 2015

Funding Sources and Cost of Funds

Funding by Currency (*)

12

(US$ million)

As of June 30, 2015

…with Conservative Liquidity Management

Liquidity Management Highlights Liquidity Placements

Liquidity Coverage Ratio Liquidity Ratio

(US$ million)

As of June 30, 2015

Advanced liquidity management operating under Basel III

framework, monitoring liquidity through Liquidity Coverage Ratio

(“LCR”) and Net Stable Funding Ratio (“NSFR”)

30% Liquidity Ratio (Liquid Assets / Total Deposits)

1.12x NSFR

1.02x LCR (Basel III)

Liquid balances mainly held in cash-equivalent deposits in A-1 /

P-1 rated financial institutions or A-rated negotiable money market

instruments, amounted to $960 million as of June 30, 2015

High-quality, short-term trade finance book, which serves as an

alternate source of liquidity, with approximately $1 billion in loans

maturing on a monthly basis

13

14

Expanding Earnings Capacity & Profitability...

Net Income Net Interest Income & Margin

Fees and Other Income Efficiency Ratio

(US$ million)

(US$ million) (US$ million, except percentages)

(US$ million, except percentages)

15

… Supported by Strong Balance Sheet…

Total Assets Loan Portfolio

Deposits Stockholder’s Equity

(US$ million) (US$ million)

(US$ million) (US$ million)

16

Return on Average Equity “ROAE” Return on Average Assets “ROAA”

…and Solid Performance

Tier 1 Capital Ratio

16

Risk Weighted Assets ($ million)

Basel I Basel III

2011 $4,090 n.a.

2012 $4,609 n.a.

2013 $5,473 n.a.

2014 $6,027 $5,914

30-Jun-15 $6,233 $5,953

17

Key Financial Metrics

(In US$ million, except when indicated otherwise) 2011 2012 2013 2014 6M15

Business Net Income $66.3 $83.5 $89.4 $103.5 $48.8

Non-Core Income 16.9 9.5 (4.6) 3.4 0.3

Net Income attributable to Bladex stockholders 83.2 93.0 84.8 106.9 49.1

EPS (US$) $2.25 $2.46 $2.21 $2.76 $1.26

Return on Average Equity (ROAE) 11.4% 11.6% 10.0% 12.0% 10.6%

Business ROAE 9.1% 10.4% 10.6% 11.6% 10.5%

Return on Average Assets (ROAA) 1.5% 1.5% 1.2% 1.4% 1.3%

Business ROAA 1.2% 1.4% 1.3% 1.4% 1.3%

Net Interest Margin (NIM) 1.81% 1.70% 1.75% 1.87% 1.81%

Net Interest Spread (NIS) 1.62% 1.44% 1.55% 1.71% 1.65%

Loan Portfolio 4,960 5,716 6,148 6,686 6,920

Commercial Portfolio 5,354 5,953 6,630 7,187 7,411

Allowance for Credit Losses to Commercial Portfolio 1.82% 1.31% 1.18% 1.20% 1.23%

Allowance for Credit Losses to Non-Accruing Loan Balances (x times) 3.0 0.0 25.0 21.4 4.4

Efficiency Ratio 36% 42% 41% 32% 33%

Business Efficiency Ratio 39% 43% 37% 32% 33%

Market Capitalization 596 822 1,081 1,167 1,254

Assets 6,360 6,756 7,471 8,025 8,308

Tier 1 Capital Ratio Basel I 18.6% 17.9% 15.9% 15.3% 15.4%

Leverage (times) 8.4 8.2 8.7 8.8 8.7

(*) End-of-period balances.

Results

Portfolio Quality (*)

Performance

Efficiency

Scale &

Capitalization (*)

17

Bladex Value Proposition to Shareholders

• Bladex offers

investors access to

an entire continent

with compelling long-

term growth

prospects

• Business model

provides diversified

exposure to emerging

markets, but with well

mitigated Credit

Quality, Market, &

Operational risks

• Committed to total

shareholder return

(“TSR”) … Attractive

dividend yield (annual

dividend yield over

5.0%) as a function of

core business growth

(target 40% - 50%

payout ratio)

• Attractive valuation

multiples

18

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 and a

Tailored Business Model

Trade Finance Bank in Latin America with 35 years of Remarkable Success

Investment Grade Profile with Strong and Unique Shareholding Structure

Deep knowledge of Latin America with Core in Trade Finance

Strategically positioned to capture growth opportunities

Sustainable Portfolio Strategy focused on Diversification

Strong Asset Quality Management and a Low Risk Core Business Focus

Increased diversification of Regional and Global Funding Sources

Advanced Liquidity Management operating under Basel III Framework

Net Income of $106.9 million as of December 2014 (+26% YoY)

Return on Average Equity of 12%

Solid 15.6% Tier 1 Capitalization Ratio (Basel III)

Seasoned Senior Management with more than 45 years in C-Suite roles

World-Class Standards in Corporate Governance, focused on Enterprise-Wide Risk Management

(*) As of December 2014

Investment Highlights

19

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 D.F. 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

MONTERREY Torre Avalanz, piso 20 oficina 2035

Batallón de San Patricio #109

Col. Valle Oriente, San Pedro, Garza

García

Nuevo León, C.P. 66260, México

Tel: (52-81) 4780-2377

Contact: Alejandro Barrientos

Email: abarrientos@bladex.com

PERU Dean Valdivia 243

Piso 7, Oficina 701

San Isidro, Lima

Tel: (511) 207-8800

Contact: Victor Mantilla

Email: vmantilla@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

370 Lexington Avenue, Suite 500

New York, NY 10017

Tel: (001) 212-754-9191

Regional Presence in Latin America

20