1Q18 Earnings Presentation

1. 1Q18 Earnings Results Presentation
April 20, 2018

2. “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 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 credit losses; the
need for additional provisions for credit losses; the Bank’s ability to achieve future growth, 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; the possibility of fraud; and the adequacy of the
Bank’s sources of liquidity to replace large deposit withdrawals.”
2

3. 1 Lending Activity
1Q18 Highlights
Financial Performance Overview
 Short-term origination
 Loan balances  +2% avg QoQ  5% end of period QoQ
2 Net Interest Spreads
 Lower lending spreads on short-tenor
origination drove net interest margin down to
1.68%
 10bps QoQ
 34bps YoY
3 Medium-term portfolio
 Slow pace of medium-term origination in
1Q18. Expected to pick up speed in
subsequent quarters
4 New Clients
 Increasing effort to prospect new clients
throughout the Region
5 Contingencies / Letters
of credit
 Fees from letters of credit and other
contingencies stable at $3MM
 3% QoQ
 1% YoY
6 Syndications &
Structuring
 No new transactions booked during 1Q18.
Robust pipeline for subsequent quarters
7 Credit Quality
 No new NPLs in 1Q18
 Quarterly increase in allowances for ECL.
Specific provision for slow restructuring in Brazil
3
1.5x coverage ratio
+$2.0 MM QoQ
 +5% volume QoQ
 $339 MM QoQ
 $178 MM YoY

4.  New loan disbursements -
continue with another strong
quaterly performance
Loan Origination and Maturities
4

5.  Lower QoQ and YoY comparisons for NII and NIM – impacted by
decreases in lending margins
Net Interest Income & Financial Margins
5

6. Fees & Other Income
 Continued quarterly stable trend in the L/C and contingencies activity
 Loss from reduced exposure related to a previously executed structured
transaction
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7. Operating Expenses
 Declining trend in quarterly base of operating expenses ex-variable
compensation
 Total expense increase attributable to annual variable compensation
expense paid in 1Q18
In US$ Million 1Q17 4Q17 1Q18
Salaries and other employee
expenses, ex-variable
compensation
5.4 6.9 5.3
Other operating expenses 4.5 5.8 4.2
Total operating expenses, ex-
variable compensation
9.9 12.7 9.5
Variable compensation 1.3 0.4 4.8
Total Operating Expenses 11.2 13.1 14.3
Total Salaries & Other Employee
Expenses 6.7 7.3 10.1
(1) Corresponds to annual variable compensation
(1)
7

8. Commercial Portfolio Highlights
 EOP - FIs @ 47% of total
(+11 pts YoY), traditional
client base
 EOP Corporations @ 53%
- Important industry
diversification
 Oil & Gas combined
exposure at 19%
 Increase on non-trade
reflects renewed focus
on lending to financial
institutions
 82% maturing within
one year +5 pts YoY
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 Increased relative
exposure in
Colombia, offseting
decrease in Peru

9.  NPL balances stable QoQ
 NPL total reserve coverage of 1.5 times
Credit Quality - NPL
(*)(*)
(*) Reserve refers to the allowance for expected credit losses on loans, loan
commitments and financial guarantee contracts. 9

10.  EoP deposits balance closed at $2.8 B; with
70% placed by Central Banks Class “A”
shareholders or designees
 Avg. deposits stable at $3.2 B for 1Q18,
representing 61% of avg. total funding (vs. 62%
in the 4Q17);
 Avg. short-term borrowings and debt +4 pts QoQ
Average Funding Sources and Cost of Funds
Deposits by Type of Client
(As of March 31, 2018)
Funding Sources by Geography
(As of March 31, 2018)
Funding Sources
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11. Shareholder Returns
 $0.385/share declared for
1Q18
 Attractive dividend yield of
5.4%
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