Bladex Corporate PresentationAs of September 30, 2015

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.”

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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 loansto 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

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Strong and Unique Shareholder Structure

A unique shareholding structureClass 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

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Out of 10 directors, 9 are independent and one represents the Bank’s management (CEO)

Class A – Central Banks or designees from 23 LatAm countries

Class B – LatAm & international banks and financial institutions

Class E – Public Float (NYSE listed)

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 demographicsSustained growth and sound economic policies

Pan Regional Reach

Product & Market Expertise

Agility & Efficiency

Client Focused

In-depth knowledge of Latin America’s local marketsBacked by 23 Latin American governmentsVast 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 structureLEAN workflows

LEAN, client focused culture with a single point of contactProviding client-specific solutionsFocused on long-term relationships

CLIENT BASE

REGIONS COUNTRIES

INDUSTRY SECTORS

Financial InstitutionsAmong top 10 in all countriesCorporate banking activity

CorporationsForeign exchange generation capacityGrowth oriented beyond domestic marketAmong top 10 in respective industry sectorCorporate governance

Focus on Strategic Sectors for the RegionO&G, Agribusiness, Food processing, Manufacturing

Driver of progress, economic growth and

developmentSupporting

specialization in both primary and

manufacturing sectors

Enhancing LatAm’s role in global and regional value chainsGrowth 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

Trad

e Fi

nanc

ing

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

Stru

ctur

ed T

rade

Sol

utio

ns

Medium- and long-term loans

Acquisition finance

Trade-related term loans

Trade & non-trade revolving credit facilities

Liability management

Bridge loans

Syn

dica

tions

Leasing

Term loans

Guarantees

A/B financing with multilaterals

Working capital loans

Fina

ncia

l Loa

ns

Trade Non-Trade

Central America and the CaribbeanSouthern Cone Andean Region MexicoBrazil

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Business Model targets sustainable, superior returns

Leverage Proven Origination Capacity

LatAm GDP Growth

LatAm GDP Growth

LatAm Trade Flow GrowthLatAm Trade Flow Growth

Bladex Client Base GrowthBladex Client Base Growth

Valued Products & Services

Valued Products & Services

3%+ ROAE

15%+ ROAE

12%+ ROAE

Bladex Origination

Bladex Origination

Active Portfolio

Management

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 ConsistentCore Performance

FinancialInstitutions Structuring

Partners Trade Services

Distribution

Asset Distribution & Services

Fee Based Services

Investors Other

Tap Additional Income Sources

15%+ ROAE

12%+ ROAE12%+ ROAE

3%+ ROAE3%+

ROAE

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Strategy Hones Strengths & Positions to Seize Growth Opportunities

Develop Emerging Businesses

• Develop robust syndication platform

• Expand diversified market distribution capabilities

Risk sharing programsSecondary market transactionsSecuritization 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 InsuranceCapital Market transactionsStructured Trade FinanceTrade-related ServicesFactoringTrade 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 equityImprove quality of earningsAchieve greater risk dispersion

• Expand Contingency BusinessDevelop Guarantee and L/C Issuance Platform

Ensure sustainable 12% Core ROAE

+

+

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Adhering to World-Class Standards

(*) Except for the Bank’s Chief Executive Officer (CEO), all othermembers 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

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Enterprise risk management & externally certified internal audit functionInternal 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 ServicesRisk 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, 74% of the Credit Portfolio is in investment-grade countries, compared to 21% and 14% in 2003 and 1993, respectively

• Accumulated credit disbursements of $228 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

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… through a Sustainable Portfolio Strategy Focused on Diversification …

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Sustained Portfolio Growth Commercial Portfolio Composition

Commercial Portfolio By Country Commercial Portfolio By IndustryAs of September 30, 2015As of September 30, 2015

10

Reduced exposure to Brazil by 15 percentage points since 2005 to September 30, 2015

As of September 30, 2015

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… 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 Non-Accruing Loans monitoring process• Diligent recovery processes

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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 68% of the Bank’s total deposits as of September 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 SourcesAs of September 30, 2015 As of September 30, 2015

Funding Sources and Cost of Funds

Funding by Currency (*)

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(US$ million)

As of September 30, 2015

…with Conservative Liquidity Management

Liquidity Management Highlights Liquidity Placements

Liquidity Coverage RatioLiquidity Ratio(US$ million)

As of September 30, 2015Advanced liquidity management operating under Basel III framework, monitoring liquidity through Liquidity Coverage Ratio(“LCR”) and Net Stable Funding Ratio (“NSFR”)

28% Liquidity Ratio (Liquid Assets / Total Deposits)1.18x NSFR1.03x 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 $871 million as of September 30, 2015High-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

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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)

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… 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

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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-Sep-15 $5,848 $6,453

n.a. means not available

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Key Financial Metrics

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(In US$ million, except when indicated otherwise) 2011 2012 2013 2014 9M15

Business Net Income $66.3 $83.5 $89.4 $103.5 $78.0Non-Core Income 16.9 9.5 (4.6) 3.4 4.7

Net Income attributable to Bladex stockholders 83.2 93.0 84.8 106.9 82.7 EPS (US$) $2.25 $2.46 $2.21 $2.76 $2.12

Return on Average Equity (ROAE) 11.4% 11.6% 10.0% 12.0% 11.7%Business ROAE 9.1% 10.4% 10.6% 11.6% 11.1%Return on Average Assets (ROAA) 1.5% 1.5% 1.2% 1.4% 1.4%Business ROAA 1.2% 1.4% 1.3% 1.4% 1.3%Net Interest Margin (NIM) 1.81% 1.70% 1.75% 1.87% 1.82%Net Interest Spread (NIS) 1.62% 1.44% 1.55% 1.71% 1.66%

Loan Portfolio 4,960 5,716 6,148 6,686 6,759 Commercial Portfolio 5,354 5,953 6,630 7,187 7,124Allowance for Credit Losses to Commercial Portfolio 1.82% 1.31% 1.18% 1.20% 1.32%Allowance for Credit Losses to Non-Accruing Loan Balances (x times) 3.0 0.0 25.0 21.4 4.5

Efficiency Ratio 36% 42% 41% 32% 30%Business Efficiency Ratio 39% 43% 37% 32% 31%

Market Capitalization 596 822 1,081 1,167 902 Assets 6,360 6,756 7,471 8,025 7,993 Tier 1 Capital Ratio Basel I 18.6% 17.9% 15.9% 15.3% 16.7%Leverage (times) 8.4 8.2 8.7 8.8 8.3

(*) End-of-period balances.

Results

Portfolio Quality (*)

Performance

Efficiency

Scale & Capitalization (*)

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

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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 SuccessInvestment Grade Profile with Strong and Unique Shareholding Structure

Deep knowledge of Latin America  with Core in Trade FinanceStrategically positioned to capture growth opportunities

Sustainable Portfolio Strategy focused on DiversificationStrong Asset Quality Management and a Low Risk Core Business Focus

Increased diversification of  Regional and Global Funding SourcesAdvanced 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 rolesWorld‐Class Standards in Corporate Governance, focused on Enterprise‐Wide Risk Management

(*) As of December 2014

Investment Highlights

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PANAMAHEAD OFFICETorre V, Business ParkAve. La Rotonda, Costa del EsteApartado 0819-08730Panamá, República de PanamáTel: (507) 210-8500

ARGENTINAAv. Corrientes 222 –P.18º(1043AAP) Capital FederalBuenos Aires, ArgentinaTel: (54-11) 4331-2535Contact: Federico Pérez SartoriEmail: fpsartori@bladex.com

BRAZILRua Leopoldo Couto de MagalhäesJunior 110, 1º andar04542-000, Sao Paulo, BrazilTel: (55-11) 2198-9606Contact: Roberto KanegaeEmail: rkanegae@bladex.com

MEXICOMEXICO D.F.Rubén Darío 281, piso 15, Oficina #1501Colonia Bosque de ChapultepecCP. 11580, México D.F.Tel: (52-55) 5280-0822Contact: Alejandro BarrientosEmail: abarrientos@bladex.com

MONTERREYTorre Avalanz, piso 20 oficina 2035Batallón de San Patricio #109Col. Valle Oriente, San Pedro, Garza GarcíaNuevo León, C.P. 66260, MéxicoTel: (52-81) 4780-2377Contact: Alejandro BarrientosEmail: abarrientos@bladex.com

PERUDean Valdivia 243Piso 7, Oficina 701San Isidro, LimaTel: (511) 207-8800Contact: Victor MantillaEmail: vmantilla@bladex.com

COLOMBIACalle 113 # 7-45Edificio Teleport Business ParkTorre B, Oficina 1008Bogotá, ColombiaTel: (57-1) 214-3677Contact: Camilo AlvaradoEmail: calvarado@bladex.com

UNITED STATESNEW YORK AGENCY 370 Lexington Avenue, Suite 500New York, NY 10017Tel: (001) 212-754-9191

Regional Presence in Latin America

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Balance Sheet

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(In US$ million) 2011 2012 2013 2014 30-Sep-15Balance Sheet Data:

Interest bearing deposits with banks $843 $707 $840 $780 $905Trading assets 20 5 (0) 0 0Securities available-for-sale 416 183 334 339 171 Securities held-to-maturity 27 34 34 54 119 Investment funds 120 106 119 58 59

Loans 4,960 5,716 6,148 6,686 6,759 Allowance for loan losses (89) (73) (73) (80) (91) Unearned income and deferred fees (7) (7) (7) (8) (10) Other assets 69 86 76 196 81

Total Assets $6,360 $6,756 $7,471 $8,025 $7,993

Total deposits $2,304 $2,317 $2,361 $2,507 $3,116Trading liabilities 6 32 0 0 0

Securities sold under repurchase agreements and Short-term borrowings 1,700 1,607 2,991 2,993 2,059

Long-term borrowings and debt 1,488 1,906 1,154 1,405 1,790

Derivatives financial instruments - liabilities 54 12 9 40 24 Other liabilities 44 52 48 169 42

Total Liabilities 5,595 5,927 6,563 7,114 7,032 Redeemable noncontrolling interest 6 3 50 0 0

Total Stockholders' Equity 759 826 858 911 962 Total Liabilities and Stockholders' Equity $6,360 $6,756 $7,471 $8,025 $7,993

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Profit and Loss

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(In US$ thousand) 2011 2012 2013 2014 9M15Profit and Loss:

Net interest income $102,710 $104,977 $123,092 $141,131 $107,486Reversal of provision (provision) for loan losses (8,841) 8,343 1,598 (6,895) (11,103)

Net interest income, after reversal of provision (provision) for loan losses

93,869 113,320 124,690 134,236 96,383

Reversal of provision (provision) for losses on off-balance sheet credit risk 4,448 4,046 (381) (1,627) 4,454

Fees and commissions, net 10,619 10,021 13,669 17,502 12,870 Derivative financial instruments and hedging 2,923 71 353 106 1,394 Recoveries, net of impairment of assets (57) 0 108 7 0Net gain (loss) from investment funds 20,314 7,011 (6,702) 3,409 4,766 Net gain (loss) from trading securities (6,494) 11,234 3,221 (393) 893 Net gain on sale of securities available-for-sale 3,413 6,030 1,522 1,871 363 Gain on sale of loans 64 1,147 588 2,546 720 Net gain (loss) on foreign currency exchange 4,269 (10,525) (3,834) 766 (1,791) Gain on sale of premises and equipment 0 5,626 0 0 0Other income, net 995 1,839 1,644 1,745 1,031

Net other income 40,494 36,500 10,188 25,931 24,700 Total operating expenses (50,087) (55,814) (54,306) (53,702) (38,403)

Net income from continuing operations 84,276 94,006 80,572 106,465 82,680 Net income (loss) from discontinued operations (420) (681) (4) - -

Net income 83,856 93,325 80,568 106,465 82,680

Net income (loss) attributable to the redeemable non-controlling interest 676 293 (4,185) (475) -

Net income attributable to Bladex stockholders $83,180 $93,032 $84,753 $106,940 $82,680