# EDGAR Filing Document

**Accession Number:** 0000890541
**File Stem:** 0001628280-26-021534
**Filing Date:** 2026-3
**Character Count:** 176308
**Document Hash:** 4a07d25b8a652f3afbbcf1e62f7985e0
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001628280-26-021534.hdr.sgml**: 20260327

**ACCESSION NUMBER**: 0001628280-26-021534

**CONFORMED SUBMISSION TYPE**: 6-K

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260327

**DATE AS OF CHANGE**: 20260326

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FOREIGN TRADE BANK OF LATIN AMERICA, INC.
- **CENTRAL INDEX KEY:** 0000890541
- **STANDARD INDUSTRIAL CLASSIFICATION:** COMMERCIAL BANKS, NEC [6029]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 000000000
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 6-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-11414
- **FILM NUMBER:** 26800201

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** BUSINESS PARK, TORRE V, PISO 5
- **STREET 2:** AVENIDA LA ROTONDA, COSTA DEL ESTE
- **CITY:** PANAMA
- **PROVINCE COUNTRY:** R1
- **ZIP:** 0819-08730
- **BUSINESS PHONE:** 5072108500

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** BUSINESS PARK, TORRE V, PISO 5
- **STREET 2:** AVENIDA LA ROTONDA, COSTA DEL ESTE
- **CITY:** PANAMA
- **PROVINCE COUNTRY:** R1
- **ZIP:** 0819-08730

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** LATIN AMERICAN EXPORT BANK
- **DATE OF NAME CHANGE:** 19940829

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 6-K**

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE

SECURITIES EXCHANGE ACT OF 1934

For the month of March, 2026

Commission File Number 1-11414

**BANCO LATINOAMERICANO DE COMERCIO EXTERIOR, S.A.**

(Exact name of Registrant as specified in its Charter)

**FOREIGN TRADE BANK OF LATIN AMERICA, INC.**

(Translation of Registrant's name into English)

Business Park Torre V, Ave. La Rotonda, Costa del Este

P.O. Box 0819-08730

Panama City, Republic of Panama

(Address of Principal Executive Office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ⌧ Form 40-F □

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

---

| | | |
|:---|:---|:---|
| | | FOREIGN TRADE BANK OF LATIN AMERICA, INC. |
| | | (Registrant) |
| Date: March 26, 2026 | By: | <u>/s/ Annette van Hoorde de Solís</u> |
|  | Name: | Annette van Hoorde de Solís |
|  | Title: | Chief Financial Officer |

---

------

**&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**

**Banco Latinoamericano** 

**de Comercio Exterior, S.A.**

**and Subsidiaries**

Unaudited interim condensed consolidated financial statements as of December 31, 2025, and for the three and twelve months ended months ended December 31, 2025 and 2024

------

**Banco Latinoamericano de Comercio Exterior, S.A.** 

&nbsp;&nbsp;&nbsp;&nbsp;**and Subsidiaries**

**Contents**

---

| |
|:---|
| Condensed consolidated statement of financial position |
| Condensed consolidated statement of profit or loss |
| Condensed consolidated statement of comprehensive income |
| Condensed consolidated statement of changes in equity |
| Condensed consolidated statement of cash flows |
| Notes to the interim condensed consolidated financial statements (unaudited) |

---

------

**Banco Latinoamericano de Comercio Exterior, S. A. and Subsidiaries**

**Condensed consolidated statements of financial position**

**December 31, 2025 and 2024**

*(In thousands of US dollars)*

---

| | | | |
|:---|:---|:---|:---|
| | **Notes** | **2025**<br>**(Unaudited)** | **2024**<br>**(Audit)** |
| **Assets** |  |  |  |
| Cash and due from banks | 345 | 1923731 | 1965145 |
| Investment securities | 346 | 1428990 | 1201930 |
| Loans | 347 | 9141668 | 8383829 |
| Customers' liabilities under acceptances | 34 | 161597 | 245065 |
| Trading derivative - assets | 3410 | 1569 |  |
| Hedging derivative financial instruments - assets | 3410 | 69837 | 22315 |
| Equipment, right-of-use assets and leasehold improvements, net |  | 19673 | 19676 |
| Intangibles assets |  | 10744 | 3663 |
| Other assets | 11 | 28584 | 17050 |
| **Total assets** |  | 12786393 | 11858673 |
| **Liabilities and Equity** |  |  |  |
| Liabilities: |  |  |  |
| Customer deposits | 3412 | 6640290 | 5461901 |
| Securities sold under repurchase agreements | 3413 | 130509 | 214035 |
| Borrowings and debt | 3414 | 4030389 | 4388720 |
| Lease liabilities | 315 | 18429 | 19232 |
| Acceptances outstanding | 34 | 161597 | 245065 |
| Trading derivative - liabilities | 3410 | 433 |  |
| Hedging derivative financial instruments - liabilities | 3410 | 62506 | 141705 |
| Allowance for losses on loan commitments and financial guarantee contract | 34 | 12130 | 5375 |
| Other liabilities | 16 | 51363 | 45431 |
| Total liabilities |  | 11107646 | 10521464 |
| Equity: |  |  |  |
| Common stock |  | 279980 | 279980 |
| Treasury stock |  | (97597) | (105601) |
| Other equity instruments | 17 | 197976 |  |
| Additional paid-in capital in excess of value assigned to common stock |  | 125151 | 124970 |
| Capital reserves | 23 | 95210 | 95210 |
| Regulatory reserves | 23 | 159093 | 149666 |
| Retained earnings |  | 916429 | 792005 |
| Other comprehensive income |  | 2505 | 979 |
| Total equity |  | 1678747 | 1337209 |
| **Total liabilities and equity** |  | 12786393 | 11858673 |

---

The accompanying notes are an integral part of these interim condensed consolidated financial statements (unaudited).

------

**Banco Latinoamericano de Comercio Exterior, S. A. and Subsidiaries**

**Condensed consolidated statement of profit or loss**

**For the three and twelve months ended months ended December 31, 2025 and 2024**

*(In thousands of US dollars, except earnings per share data)*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** |
| | | **Three months ended December 31,** | **Three months ended December 31,** | **Twelve months ended December 31,** | **Twelve months ended December 31,** |
| | **Notes** | **2025** | **2024** | **2025** | **2024** |
| **Interest income:** |  |  |  |  |  |
| Deposits |  | 15903 | 19610 | 71009 | 92549 |
| Investment securities |  | 17544 | 14466 | 65435 | 50806 |
| Loans |  | 157486 | 163329 | 632020 | 641677 |
| Total interest income | 20 | 190933 | 197405 | 768464 | 785032 |
| **Interest expense:** |  |  |  |  |  |
| Deposits |  | (72004) | (74977) | (289567) | (300890) |
| Securities sold under repurchase agreements | 13 | (1472) | (2400) | (8485) | (11675) |
| Borrowings and debt | 14 | (46523) | (52906) | (198516) | (212636) |
| Lease liabilities | 15 | (174) | (185) | (714) | (620) |
| Total interest expense | 20 | (120173) | (130468) | (497282) | (525821) |
| **Net interest income** |  | 70760 | 66937 | 271182 | 259211 |
| **Other income (expense):** |  |  |  |  |  |
| Fees and commissions, net | 19 | 14466 | 11906 | 59013 | 44401 |
| Gain on financial instruments, net | 9 | 3204 | (620) | 8231 | (483) |
| Other income, net |  | 372 | 202 | 1144 | 507 |
| Total other income, net | 20 | 18042 | 11488 | 68388 | 44425 |
| **Total revenues** |  | 88802 | 78425 | 339570 | 303636 |
| Impairment losses on financial instruments | 320 | (5402) | (4038) | (22119) | (17299) |
| **Operating expenses:** |  |  |  |  |  |
| &nbsp;&nbsp;Salaries and other employee expenses |  | (15902) | (14314) | (55420) | (51923) |
| &nbsp;&nbsp;Depreciation and amortization of equipment, right-of-use and leasehold improvements |  | (743) | (700) | (2854) | (2499) |
| &nbsp;&nbsp;Amortization of intangible assets |  | (949) | (312) | (1978) | (1064) |
| &nbsp;&nbsp;Other expenses |  | (9808) | (7571) | (30317) | (24978) |
| Total operating expenses | 20 | (27402) | (22897) | (90569) | (80464) |
| **Profit for the period** |  | 55998 | 51490 | 226882 | 205873 |
| **Per share data:** |  |  |  |  |  |
| Basic earnings per share (in US dollars) | 18 | 1.50 | 1.40 | 6.11 | 5.60 |
| Weighted average basic shares (in thousands of shares) | 18 | 37231 | 36790 | 37152 | 36740 |

---

The accompanying notes are an integral part of these interim condensed consolidated financial statements (unaudited).

------

**Banco Latinoamericano de Comercio Exterior, S. A. and Subsidiaries**

**Condensed consolidated statement of comprehensive income**

**For the three and twelve months ended months ended December 31, 2025 and 2024**

*(In thousands of US dollars)*

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** |
| | **Three months ended December 31,** | **Three months ended December 31,** | **Twelve months ended December 31,** | **Twelve months ended December 31,** |
| | **2025** | **2024** | **2025** | **2024** |
| **Profit for the period** | 55998 | 51490 | 226882 | 205873 |
| **Other comprehensive income:** |  |  |  |  |
| Items that are or may be reclassified subsequently to the consolidated statement of profit or loss: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Change in fair value on financial instruments, net of hedging | 4811 | (8253) | 5755 | (7597) |
| &nbsp;&nbsp;&nbsp;Reclassification of gains on financial instruments to the consolidated statement of profit or loss | (5552) | (21) | (4229) | 1114 |
| Other comprehensive income | (741) | (8274) | 1526 | (6483) |
| **Total comprehensive income for the period** | 55257 | 43216 | 228408 | 199390 |

---

The accompanying notes are an integral part of these interim condensed consolidated financial statements (unaudited).

------

**Banco Latinoamericano de Comercio Exterior, S. A. and Subsidiaries**

**Condensed consolidated statement of changes in equity**

**For the twelve months ended December 31, 2025 and 2024** 

*(In thousands of US dollars)*

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** |
| | **Note** | **Common stock** | **Treasury stock** | **Other equity instruments** | **Additional paid-in capital in excess of value assigned to common stock** | **Capital reserves** | **Regulatory reserves** | **Retained earnings** | **Other comprehensive income** | **Total equity** |
| **Balances at January 1, 2024** |  | 279980 | (110174) |  | 122046 | 95210 | 136019 | 673281 | 7462 | 1203824 |
| Profit for the period |  |  |  |  |  |  |  | 205873 |  | 205873 |
| Other comprehensive income |  |  |  |  |  |  |  |  | (6483) | (6483) |
| Issuance of restricted stock (RSA) |  |  | 1038 |  | (1038) |  |  |  |  |  |
| Compensation cost - stock units plans |  |  |  |  | 7497 |  |  |  |  | 7497 |
| Stock units vested (RSU) |  |  | 3535 |  | (3535) |  |  |  |  |  |
| Regulatory credit reserve |  |  |  |  |  |  | 4549 | (4549) |  |  |
| Dynamic provision |  |  |  |  |  |  | 9098 | (9098) |  |  |
| Dividends declared |  |  |  |  |  |  |  | (73502) |  | (73502) |
| **Balances at December 31, 2024** |  | 279980 | (105601) |  | 124970 | 95210 | 149666 | 792005 | 979 | 1337209 |
| Profit for the period |  |  |  |  |  |  |  | 226882 |  | 226882 |
| Other comprehensive income |  |  |  |  |  |  |  |  | 1526 | 1526 |
| Issuance of restricted stock (RSA) |  |  | 4521 |  | (4521) |  |  |  |  |  |
| Issuance of other equity instruments, net | 17 |  |  | 197976 |  |  |  |  |  | 197976 |
| Compensation cost - stock units plans |  |  |  |  | 8185 |  |  |  |  | 8185 |
| Stock units vested (RSU) |  |  | 3483 |  | (3483) |  |  |  |  |  |
| Regulatory credit reserve |  |  |  |  |  |  | 5 | (5) |  |  |
| Dynamic provision |  |  |  |  |  |  | 9422 | (9422) |  |  |
| Dividends declared |  |  |  |  |  |  |  | (93031) |  | (93031) |
| **Balances at December 31, 2025** |  | 279980 | (97597) | 197976 | 125151 | 95210 | 159093 | 916429 | 2505 | 1678747 |

---

The accompanying notes are an integral part of these interim condensed consolidated financial statements (unaudited).

------

**Banco Latinoamericano de Comercio Exterior, S. A. and Subsidiaries**

**Condensed consolidated statement of cash flows**

**For the twelve months ended December 31, 2025 and 2024**

(In thousands of US dollars)

---

| | | | |
|:---|:---|:---|:---|
| | | **(Unaudited)** | **(Unaudited)** |
| | **Notes** | **2025** | **2024** |
| **Cash flows from operating activities** |  |  |  |
| Profit for the period |  | 226882 | 205873 |
| **Adjustments to reconcile profit for the period to net cash provided by (used in) operating activities:** |  |  |  |
| Depreciation and amortization of equipment, right-of-use and leasehold improvements |  | 2854 | 2499 |
| Amortization of intangible assets |  | 1978 | 1064 |
| Impairment losses on financial instruments | 3 | 22119 | 17299 |
| Realized gain on financial instruments | 9 | (4934) | (319) |
| Loss on sale of financial instruments at amortized cost | 9 | 436 |  |
| Compensation cost - share-based payment |  | 8185 | 7497 |
| Net changes in hedging position and foreign currency |  | 126026 | (33701) |
| Loss on disposal of fixed assets and intangible assets |  | 15 | 12 |
| Interest income | 20 | (768464) | (785032) |
| Interest expense | 20 | 497282 | 525821 |
| **Changes in operating assets and liabilities:** |  |  |  |
| Restricted and pledged deposits |  | 62954 | (83523) |
| Loans |  | (1057639) | (1301627) |
| Proceeds from the sale of loans |  | 210023 | 87319 |
| Other assets |  | (20245) | (3057) |
| Due to depositors |  | 1191246 | 1005136 |
| Other liabilities |  | 5150 | (9107) |
| Cash flows provided by (used in) operating activities |  | 503868 | (363846) |
| Interest received |  | 778985 | 773839 |
| Interest paid |  | (502611) | (532652) |
| **Net cash provided by (used in) operating activities** |  | 780242 | (122659) |
| **Cash flows from investing activities:** |  |  |  |
| Acquisition of fixed assets and intangible assets |  | (2796) | (3935) |
| Proceeds from the sale of securities |  | 101935 |  |
| Proceeds from the redemption of securities |  | 389963 | 298655 |
| Purchases of securities |  | (700261) | (474740) |
| **Net cash used in investing activities** |  | (211159) | (180020) |
| **Cash flows from financing activities:** |  |  |  |
| (Decrease) increase in securities sold under repurchase agreements |  | (83345) | (97323) |
| Net decrease in short-term borrowings and debt | 14 | (149687) | (58529) |
| Proceeds from long-term borrowings and debt | 14 | 587857 | 1191695 |
| Payments of long-term borrowings and debt | 14 | (1006585) | (826432) |
| Issuance of other equity instruments | 17 | 197976 |  |
| Payments of lease liabilities | 15 | (1195) | (1091) |
| Dividends paid |  | (91827) | (72778) |
| **Net cash (used in) provided by financing activities** |  | (546806) | 135542 |
| Net increase (decrease) in cash and cash equivalents |  | 22277 | (167137) |
| Cash and cash equivalents at beginning of the period |  | 1819931 | 1987068 |
| **Cash and cash equivalents at end of the period** | 5 | 1842208 | 1819931 |

---

The accompanying notes are an integral part of these interim condensed consolidated financial statements (unaudited).

------

**Banco Latinoamericano de Comercio Exterior, S. A. and Subsidiaries**

Notes to the unaudited interim condensed consolidated financial statements

*(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated)*

**1. Corporate information**

Banco Latinoamericano de Comercio Exterior, S. A. ("Bladex Head Office" and together with its subsidiaries "Bladex" or the "Bank"), headquartered in Panama City, Republic of Panama, is a specialized multinational bank established to support the financing of foreign trade and economic integration in Latin America and the Caribbean (the "Region"). The Bank was the result of a proposal brought before the Assembly of Governors of Central Banks in the Region in May of 1975, which recommended the creation of a multinational organization to increase the foreign trade financing capacity of the Region. The Bank was organized in 1977, incorporated in 1978 as a corporation pursuant to the laws of the Republic of Panama, and initiated operations on January 2, 1979. Under a contract law signed in 1978 between the Republic of Panama and Bladex, the Bank was granted certain privileges by the Republic of Panama, including an exemption from payment of income taxes in Panama.

The Bank operates under a general banking license issued by the National Banking Commission of Panama, predecessor of the Superintendence of Banks of Panama (the "SBP").

In the Republic of Panama, banks are regulated by the SBP through Executive Decree No. 52 of April 30, 2008, which adopts the unique text of Law Decree No. 9 of February 26, 1998, modified by Law Decree No. 2 of February 22, 2008. Banks are also regulated by resolutions and agreements issued by this entity. The main aspects of this law and its regulations include: the authorization of banking licenses, minimum capital and liquidity requirements, consolidated supervision, procedures for management of credit, liquidity and market risks, measures to prevent money laundering, the financing of terrorism and related illicit activities, and procedures for banking intervention and liquidation, among others.

Bladex Head Office's subsidiaries are the following:

-&nbsp;&nbsp;&nbsp;&nbsp;Bladex Holdings Inc. is a wholly owned subsidiary, incorporated under the laws of the State of Delaware, United States of America (USA), on May 30, 2000. Bladex Holdings Inc. has ownership in Bladex Representaçao Ltda.

-&nbsp;&nbsp;&nbsp;&nbsp;Bladex Representaçao Ltda, incorporated under the laws of Brazil on January 7, 2000, acts as the Bank's representative office in Brazil. Bladex Representaçao Ltda. is 99.999% owned by Bladex Head Office and the remaining 0.001% is owned by Bladex Holdings Inc.

-&nbsp;&nbsp;&nbsp;&nbsp;Bladex Development Corp. was incorporated under the laws of the Republic of Panama on June 5, 2014. Bladex Development Corp. is 100.00% owned by Bladex Head Office.

Bladex Head Office has an agency in New York City, USA (the "New York Agency"), which began operations on March 27, 1989. The New York Agency is principally engaged in financing transactions related to international trade, mostly the confirmation and financing of letters of credit for customers in the Region. The New York Agency also has authorization to book transactions through an International Banking Facility ("IBF").

The Bank has representative offices in Buenos Aires, Argentina; in Mexico City, Mexico; and in Bogota, Colombia, and has a representative license in Lima, Peru.

**2. Basis of preparation and changes to the Bank's accounting policies**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.1 Basis of preparation**

These interim condensed consolidated financial statements for the nine-month period ended December 31, 2025 have been prepared in accordance with International Accounting Standards IAS 34 "Interim Financial Reporting". The interim condensed consolidated financial statements do not include all the information and disclosures required in the annual financial statements prepared in accordance with IFRS Accounting Standards as issued by the International Accounting Standards Board ("IFRS Accouting Standards") and should be read in conjunction with the Bank's annual consolidated financial statements as at and for the year ended December 31, 2025.

These interim financial statements were authorized for issue by the Bank's board of directors on February 10, 2026.

------

**Banco Latinoamericano de Comercio Exterior, S. A. and Subsidiaries**

Notes to the unaudited interim condensed consolidated financial statements

*(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated)*

**2. Basis of preparation and changes to the Bank's accounting policies (continued)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.2 New accounting standards and amendments issued but not yet effective**

Certain new accounting standards and amendments to accounting standards are effective for the years 2026 and 2027 and earlier application is permitted. The Bank has not early adopted any of these new accounting standards or amendments in preparing these consolidated financial statements.

*<u>January 1, 2026: Classification and measurement of financial instruments - Amendments to IFRS 9 and IFRS 7</u>*<u>:</u> The specific amendments to IFRS 9 Financial Instruments and IFRS 7 Financial Instruments: Disclosures include new requirements not only for financial institutions but also for corporate entities. These amendments:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.clarify the date of recognition and derecognition of some financial assets and liabilities, with a new exception for some financial liabilities settled through an electronic cash transfer system;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.clarify and add further guidance for assessing whether a financial asset meets the solely payments-of-principal-and-interest (SPPI) criterion;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c.add new disclosures for certain instruments with contractual terms that may change cash flows (such as some financial instruments with features linked to the achievement of environmental, social and governance objectives); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d.update disclosures for equity instruments designated at fair value through other comprehensive income (FVOCI).

The Bank is currently assessing the impact of the new amendments and, based on the evaluation performed to date, has not identified any material impact on its consolidated financial statements.

*<u>January 1, 2027: Presentation and disclosure in financial statements - IFRS 18</u>:* This new standard on presentation and disclosure in financial statements, which replaces IAS 1, focuses on updates to the statements of profit or loss.

Key new concepts introduced in IFRS 18 relate to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.the structure of the statement of profit or loss with defined subtotals;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.requirement to determine the most useful summary structure for presenting expenses in the statement of profit or loss disclosures

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c.required disclosures in a single note within the financial statements for certain profit or loss performance measures that are reported outside an entity's financial statements (i.e., performance measures defined by management, "MPMs"); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d.enhanced principles on aggregation and disaggregation that apply to the primary financial statements and notes generally.

The Bank is still in the process of assessing the impact of the new standard, particularly with respect to the structure of the consolidated statement of profit or loss, the statement of cash flows and the additional disclosures required for MPMs. The Bank is also assessing the impact on how information is grouped in the consolidated financial statements, including for items currently labelled as "other".

*<u>January 1, 2027: Subsidiaries without Public Accountability - IFRS 19:</u>* This new standard allows for certain eligible subsidiaries that report under IFRS accounting standards apply reduced disclosure requirements of IFRS 19. These reduced disclosure requirement are expected to balance the information needs of users of eligible subsidiaries' financial statements with cost savings for preparers. IFRS 19 is a voluntary standard for eligible subsidiaries. A subsidiary is eligible if:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.it has no public accountability, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.it has an ultimate or intermediate parent company that produces consolidated financial statements available for public use that comply with IFRS Accounting Standards.

The Bank does not anticipate that IFRS 19 will be applied for purposes of the Bank's consolidated financial statements.

------

**Banco Latinoamericano de Comercio Exterior, S. A. and Subsidiaries**

Notes to the unaudited interim condensed consolidated financial statements

*(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated)*

**3. Financial risk review**

This note presents information about the Bank's exposure to financial risks:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**A.Credit risk**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*i.Credit quality analysis*

The following tables set out information about the credit quality of financial assets measured at amortized cost, and debt instruments at FVOCI. For loan commitments and financial guarantee contracts, the amounts in the table represent the amounts committed or guaranteed, respectively.

<u>Bank deposits</u>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| | **PD Ranges** | **Stage 1** | **Stage 2** | **Stage 3** | **Total** |
| Grades 1 - 4 | 0.05 -0.38 | 1923151 |  |  | 1923151 |
| Grades 5 - 6 | 0.39 - 3.81 | 660 |  |  | 660 |
| Grades 7 - 8 | 3.82 - 34.52 | 75 |  |  | 75 |
|  |  | 1923886 |  |  | 1923886 |
| Loss allowance |  | (155) |  |  | (155) |
| **Total** |  | **1923731** | **—** | **—** | **1923731** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| | **PD Ranges** | **Stage 1** | **Stage 2** | **Stage 3** | **Total** |
| Grades 1 - 4 | 0.05 -0.38 | 1964543 |  |  | 1964543 |
| Grades 5 - 6 | 0.39 - 3.81 | 593 |  |  | 593 |
| Grades 7 - 8 | 3.82 - 34.52 | 9 |  |  | 9 |
|  |  | 1965145 |  |  | 1965145 |
| Loss allowance |  |  |  |  |  |
| **Total** |  | **1965145** | **—** | **—** | **1965145** |

---

------

**Banco Latinoamericano de Comercio Exterior, S. A. and Subsidiaries**

Notes to the unaudited interim condensed consolidated financial statements

*(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated)*

**3. Financial risk review (continued)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**A.Credit risk (continued)**

<u>Loans, at amortized cost</u> <sup>(1)</sup>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| | **PD Ranges** | **Stage 1** | **Stage 2** | **Stage 3** | **Total** |
| Grades 1 - 4 | 0.05-0.38 | 5399585 |  |  | 5399585 |
| Grades 5 - 6 | 0.39-3.81 | 3412140 | 78892 |  | 3491032 |
| Grades 7 - 8 | 3.82-34.52 | 125507 | 102127 |  | 227634 |
| Grades 9 - 10 | 34.53-100 |  |  | 39985 | 39985 |
|  |  | 8937232 | 181019 | 39985 | 9158236 |
| Loss allowance |  | (31660) | (33169) | (28979) | (93808) |
| **Total** |  | **8905572** | **147850** | **11006** | **9064428** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| | **PD Ranges** | **Stage 1** | **Stage 2** | **Stage 3** | **Total** |
| Grades 1 - 4 | 0.05-0.41 | 2971709 |  |  | 2971709 |
| Grades 5 - 6 | 0.42-3.81 | 4704760 | 299292 |  | 5004052 |
| Grades 7 - 8 | 3.82-34.52 | 397049 | 71664 |  | 468713 |
| Grades 9 - 10 | 34.53-100 |  |  | 17513 | 17513 |
|  |  | 8073518 | 370956 | 17513 | 8461987 |
| Loss allowance |  | (45635) | (20040) | (12483) | (78158) |
| **Total** |  | **8027883** | **350916** | **5030** | **8383829** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<sup>(1)</sup> Loans at amortized cost includes interest and commission receivable.

<u>Loans at FVOCI</u>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| | **PD Ranges** | **Stage 1** | **Stage 2** | **Stage 3** | **Total** |
| Grades 1 - 4 | 0.05-0.38 | 15627 |  |  | 15627 |
| Grades 5 - 6 | 0.39-3.81 | 61613 |  |  | 61613 |
|  |  | 77240 |  |  | 77240 |
| Loss allowance |  | (468) |  |  | (468) |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As of December 31, 2024, no loans were classified at fair value through other comprehensive income (FVOCI).

------

**Banco Latinoamericano de Comercio Exterior, S. A. and Subsidiaries**

Notes to the unaudited interim condensed consolidated financial statements

*(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated)*

**3. Financial risk review (continued)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**A.Credit risk (continued)**

<u>Loan commitments, financial guarantees issued and customers' liabilities under acceptances</u>

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| | **PD Ranges** | **Stage 1** | **Stage 2** | **Total** |
| **Commitments and contingencies** | | | | |
| Grades 1 - 4 | 0.05-0.38 | 876482 |  | 876482 |
| Grades 5 - 6 | 0.39-3.81 | 676044 | 365 | 676409 |
| Grades 7 - 8 | 3.82-34.52 | 287766 |  | 287766 |
|  |  | 1840292 | 365 | 1840657 |
| **Customers' liabilities under acceptances** |  |  |  |  |
| Grades 1 - 4 | 0.05-0.38 | 64761 |  | 64761 |
| Grades 5 - 6 | 0.39-3.81 | 31284 |  | 31284 |
| Grades 7 - 8 | 3.82-34.52 | 65552 |  | 65552 |
|  |  | 161597 |  | 161597 |
|  |  | 2001889 | 365 | 2002254 |
| Provision |  | (12128) | (2) | (12130) |
| **Total** |  | **1989761** | **363** | **1990124** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| | **PD Ranges** | **Stage 1** | **Stage 2** | **Total** |
| **Commitments and contingencies** | | | | |
| Grades 1 - 4 | 0.05-0.41 | 545855 |  | 545855 |
| Grades 5 - 6 | 0.42-3.81 | 630648 | 6099 | 636747 |
| Grades 7 - 8 | 3.82-34.52 | 226278 | 5500 | 231778 |
|  |  | 1402781 | 11599 | 1414380 |
| **Customers' liabilities under acceptances** |  |  |  |  |
| Grades 1 - 4 | 0.05-0.41 | 204421 |  | 204421 |
| Grades 5 - 6 | 0.42-3.81 | 1155 |  | 1155 |
| Grades 7 - 8 | 3.82-34.52 | 39489 |  | 39489 |
|  |  | 245065 |  | 245065 |
|  |  | 1647846 | 11599 | 1659445 |
| Provision |  | (4815) | (560) | (5375) |
| **Total** |  | **1643031** | **11039** | **1654070** |

---

------

**Banco Latinoamericano de Comercio Exterior, S. A. and Subsidiaries**

Notes to the unaudited interim condensed consolidated financial statements

*(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated)*

**3. Financial risk review (continued)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**A.Credit risk (continued)**

<u>Securities at amortized cost</u><sup>(1)</sup>

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| | **PD Ranges** | **Stage 1** | **Stage 2** | **Total** |
| Grades 1 - 4 | 0.05-0.38 | 1294293 |  | 1294293 |
| Grades 5 - 6 | 0.39-3.81 | 55550 | 10654 | 66204 |
|  |  | 1349843 | 10654 | 1360497 |
| Loss allowance |  | (918) | (65) | (983) |
| **Total** |  | **1348925** | **10589** | **1359514** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| | **PD Ranges** | **Stage 1** | **Stage 2** | **Total** |
| Grades 1 - 4 | 0.05-0.41 | 1020297 |  | 1020297 |
| Grades 5 - 6 | 0.42-3.81 | 72976 | 10482 | 83458 |
|  |  | 1093273 | 10482 | 1103755 |
| Loss allowance |  | (1133) | (178) | (1311) |
| **Total** |  | **1092140** | **10304** | **1102444** |

---

<u>Securities at FVOCI</u><sup>(1)</sup>

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| | **PD Ranges** | **Stage 1** | **Stage 2** | **Total** |
| Grades 1 - 4 | 0.05-0.38 | 69476 |  | 69476 |
| Loss allowance - FVOCI |  | (16) |  | (16) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| | **PD Ranges** | **Stage 1** | **Stage 2** | **Total** |
| Grades 1 - 4 | 0.05 - 0.41 | 99486 |  | 99486 |
| Loss allowance - FVOCI |  | (23) |  | (23) |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<sup>(1)</sup> Securities at amortized cost includes interest receivable.

The loss allowance for loans and investment securities at FVOCI do not affect the carrying value of the assets. These allowances are included in equity in the condensed consolidated statement of financial position in the line Other comprehensive income.

The following table presents information of the current and past due balances of loans:

---

| | | |
|:---|:---|:---|
| | **December 31,** | **December 31,** |
| | **2025** | **2024** |
| Current | 9195491 | 8444474 |
| Past due <sup>(1)</sup> | 39985 | 17513 |
| **Total** | **9235476** | **8461987** |

---

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<sup>(1)</sup> Past due loans are classified in Stage 3.

------

**Banco Latinoamericano de Comercio Exterior, S. A. and Subsidiaries**

Notes to the unaudited interim condensed consolidated financial statements

*(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated)*

**3. Financial risk review (continued)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**A. Credit risk (continued)**

The following table presents an analysis of counterparty credit exposures arising from derivative transactions. The Bank's derivative are generally collateralized by cash.

---

| | | | |
|:---|:---|:---|:---|
| | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| | **Notional value<br>USD** | **Derivative<br>financial<br>instruments -<br>fair value asset** | **Derivative<br>financial<br>instruments -<br>fair value<br>liabilities** |
| Interest rate swaps | 1754481 | 27644 | (5868) |
| Cross-currency swaps | 1317295 | 43762 | (57027) |
| Foreign exchange forwards | 7039 |  | (44) |
| **Total** | **3078815** | **71406** | **(62939)** |

---

---

| | | | |
|:---|:---|:---|:---|
| | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| | **Notional value<br>USD** | **Derivative<br>financial<br>instruments -<br>fair value asset** | **Derivative<br>financial<br>instruments -<br>fair value<br>liabilities** |
| Interest rate swaps | 1132827 | 10805 | (2667) |
| Cross-currency swaps | 1391715 | 11510 | (139038) |
| **Total** | **2524542** | **22315** | **(141705)** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*ii.Loss allowances*

The following tables show reconciliations from the opening to the closing balance of the loss allowance by class of financial instrument.

<u>Bank deposits</u>

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Stage 1** | **Stage 2** | **Stage 3** | **Total** |
| **Allowance for expected credit losses as of December 31, 2024** | **—** | **—** | **—** | **—** |
| Net effect of changes in allowance for expected credit losses | 155 |  |  | 155 |
| Impairment losses on financial instruments | 155 |  |  | 155 |
| **Allowance for expected credit losses as of December 31, 2025** | **155** | **—** | **—** | **155** |

---

------

**Banco Latinoamericano de Comercio Exterior, S. A. and Subsidiaries**

Notes to the unaudited interim condensed consolidated financial statements

*(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated)*

**3. Financial risk review (continued)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**A. Credit risk (continued)**

<u>Loans at amortized cost</u>

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Stage 1** | **Stage 2** | **Stage 3** | **Total** |
| **Allowance for expected credit losses as of December 31, 2024** | **45635** | **20040** | **12483** | **78158** |
| Transfer to lifetime expected credit losses | (176) | (10151) | 10327 |  |
| Net effect of changes in allowance for expected credit losses | (2762) | 14536 | 5548 | 17322 |
| Financial instruments that have been derecognized during the year | (35330) | (6640) |  | (41970) |
| New financial assets originated or purchased | 24293 | 15384 |  | 39677 |
| Impairment losses on financial instruments | (13975) | 13129 | 15875 | 15029 |
| Recoveries |  |  | 621 | 621 |
| **Allowance for expected credit losses as of December 31, 2025** | **31660** | **33169** | **28979** | **93808** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Stage 1** | **Stage 2** | **Stage 3** | **Total** |
| **Allowance for expected credit losses as of December 31, 2023** | **34778** | **17734** | **6898** | **59410** |
| Transfer to lifetime expected credit losses | (235) | (1237) | 1472 |  |
| Net effect of changes in allowance for expected credit losses | (1007) | 6013 | 2978 | 7984 |
| Financial instruments that have been derecognized during the year | (23723) | (5807) |  | (29530) |
| New financial assets originated or purchased | 35822 | 3337 |  | 39159 |
| Impairment losses on financial instruments | 10857 | 2306 | 4450 | 17613 |
| Recoveries |  |  | 1135 | 1135 |
| **Allowance for expected credit losses as of December 31, 2024** | **45635** | **20040** | **12483** | **78158** |

---

<u>Loans at FVOCI</u>

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Stage 1** | **Stage 2** | **Stage 3** | **Total** |
| **Allowance for expected credit losses as of December 31, 2024** | **—** | **—** | **—** | **—** |
| New financial assets originated or purchased | 468 |  |  | 468 |
| Impairment losses on financial instruments | 468 |  |  | **468** |
| **Allowance for expected credit losses as of December 31, 2025** | **468** | **—** | **—** | **468** |

---

------

**Banco Latinoamericano de Comercio Exterior, S. A. and Subsidiaries**

Notes to the unaudited interim condensed consolidated financial statements

*(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated)*

**3. Financial risk review (continued)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**A. Credit risk (continued)**

<u>Loan commitments, financial guarantee contracts and customers' liabilities under acceptances</u>

The allowance for expected credit losses on loan commitments and financial guarantee contracts reflects the Bank's management estimate of expected credit losses of customers' liabilities under acceptances and contingent liabilities such as: confirmed letters of credit, stand-by letters of credit, guarantees, and credit commitments.

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Stage 1** | **Stage 2** | **Stage 3** | **Total** |
| **Allowance for expected credit losses as of December 31, 2024** | **4815** | **560** | **—** | **5375** |
| Net effect of changes in reserve for expected credit losses | (284) | (5) |  | (289) |
| Financial instruments that have been derecognized during the year | (3369) | (553) |  | (3922) |
| New instruments originated or purchased | 10966 |  |  | 10966 |
| Impairment losses on financial instruments | 7313 | (558) |  | 6755 |
| **Allowance for expected credit losses as of December 31, 2025** | **12128** | **2** | **—** | **12130** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Stage 1** | **Stage 2** | **Stage 3** | **Total** |
| **Allowance for expected credit losses as of December 31, 2023** | **3905** | **1154** | **—** | **5059** |
| Transfer to lifetime expected credit losses | (84) | 84 |  |  |
| Net effect of changes in reserve for expected credit losses | (154) | 312 |  | 158 |
| Financial instruments that have been derecognized during the year | (2671) | (1136) |  | (3807) |
| New instruments originated or purchased | 3819 | 146 |  | 3965 |
| Impairment losses on financial instruments | 910 | (594) |  | 316 |
| **Allowance for expected credit losses as of December 31, 2024** | **4815** | **560** | **—** | **5375** |

---

<u>Securities at amortized cost</u>

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Stage 1** | **Stage 2** | **Stage 3** | **Total** |
| **Allowance for expected credit losses as of December 31, 2024** | **1133** | **178** | **—** | **1311** |
| Transfer to lifetime expected credit losses | (19) | 19 |  |  |
| Net effect of changes in allowance for expected credit losses | (2) | (85) |  | (87) |
| Financial instruments that have been derecognized during the year | (387) |  |  | (387) |
| New financial assets originated or purchased | 193 |  |  | 193 |
| Impairment losses on financial instruments | (215) | (66) |  | (281) |
| Write-offs |  | (47) |  | (47) |
| **Allowance for expected credit losses as of December 31, 2025** | **918** | **65** | **—** | **983** |

---

------

**Banco Latinoamericano de Comercio Exterior, S. A. and Subsidiaries**

Notes to the unaudited interim condensed consolidated financial statements

*(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated)*

**3. Financial risk review (continued)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**A. Credit risk (continued)**

<u>Securities at amortized cost (continued)</u>

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Stage 1** | **Stage 2** | **Stage 3** | **Total** |
| **Allowance for expected credit losses as of December 31, 2023** | **1230** | **402** | **—** | **1632** |
| Transfer to lifetime expected credit losses | (21) | 21 |  |  |
| Net effect of changes in allowance for expected credit losses | (55) | (7) | (331) | (393) |
| Financial instruments that have been derecognized during the year | (392) | (238) |  | (630) |
| New financial assets originated or purchased | 371 |  |  | 371 |
| Impairment losses on financial instruments | (97) | (224) | (331) | (652) |
| Recoveries |  |  | 331 | 331 |
| **Allowance for expected credit losses as of December 31, 2024** | **1133** | **178** | **—** | **1311** |

---

<u>Securities at FVOCI</u>

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Stage 1** | **Stage 2** | **Stage 3** | **Total** |
| **Allowance for expected credit losses as of December 31, 2024** | **23** | **—** | **—** | **23** |
| Financial instruments that have been derecognized during the year | (14) |  |  | (14) |
| New financial assets originated or purchased | 7 | **—** | **—** | 7 |
| Impairment losses on financial instruments | (7) | **—** | **—** | (7) |
| **Allowance for expected credit losses as of December 31, 2025** | **16** | **—** | **—** | **16** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Stage 1** | **Stage 2** | **Stage 3** | **Total** |
| **Allowance for expected credit losses as of December 31, 2023** | **1** | **—** | **—** | **1** |
| Net effect of changes in allowance for expected credit losses | 1 |  |  | 1 |
| New financial assets originated or purchased | 21 |  |  | 21 |
| Impairment losses on financial instruments | 22 |  |  | 22 |
| **Allowance for expected credit losses as of December 31, 2024** | **23** | **—** | **—** | **23** |

---

------

**Banco Latinoamericano de Comercio Exterior, S. A. and Subsidiaries**

Notes to the unaudited interim condensed consolidated financial statements

*(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated)*

**3. Financial risk review (continued)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**A. Credit risk (continued)**

The following table provides a summary of impairment losses on financial instruments presented in the consolidated statement of profit or loss:

---

| | | | |
|:---|:---|:---|:---|
| | **December 31,** | **December 31,** | **December 31,** |
| | **2025** | **2024** | **2023** |
| Cash and due from banks | 155 |  |  |
| Loans at amortized cost | 15029 | 17613 | 25354 |
| Loans at FVOCI | 468 |  |  |
| Loan commitments, financial guarantee contracts and <br>&nbsp;&nbsp;&nbsp;&nbsp;customers' liabilities under acceptances | 6755 | 316 | 1431 |
| Securities at amortized cost | (281) | (652) | 687 |
| Securities at FVOCI | (7) | 22 | (9) |
| **Total** | **22119** | **17299** | **27463** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*iii.Credit-impaired financial assets*

Credit-impaired loans and advances are graded 8 to 10 in the Bank's internal credit risk grading system.

The following table sets out a reconciliation of changes in the carrying amount of the allowance for credit losses for credit-impaired financial assets:

---

| | | |
|:---|:---|:---|
| | **December 31,** | **December 31,** |
| **<u>Loans at amortized cost:</u>** | **2025** | **2024** |
| Credit-impaired loans at beginning of period | 12483 | 6898 |
| Classified as credit-impaired during the period | 10327 | 1472 |
| Change in allowance for expected credit losses | 4720 | 2832 |
| Interest income | 828 | 146 |
| Recoveries | 621 | 1135 |
| **Credit-impaired loans at end of perid** | **28979** | **12483** |

---

---

| | | |
|:---|:---|:---|
| | **December 31,** | **December 31,** |
| **<u>Securities at amortized cost:</u>** | **2025** | **2024** |
| Change in allowance for expected credit losses |  | (331) |
| Recoveries |  | 331 |
| **Credit-impaired for investments at amortized cost at end of period** | **—** | **—** |

---

------

**Banco Latinoamericano de Comercio Exterior, S. A. and Subsidiaries**

Notes to the unaudited interim condensed consolidated financial statements

*(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated)*

**3. Financial risk review (continued)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**A. Credit risk (continued)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*iv.Concentrations of credit risk*

The Bank monitors concentrations of credit risk by sector, industry and country. An analysis of concentrations of credit risk from loans at amortized cost, loan commitments, financial guarantees and securities at amortized is as follows.

<u>Concentration by sector and industry</u>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Loans<br> at amortized cost** | **Loans<br> at amortized cost** | **Loan commitments, <br>financial guarantee contracts and acceptances outstanding** | **Loan commitments, <br>financial guarantee contracts and acceptances outstanding** | **Securities<br> at amortized** | **Securities<br> at amortized** |
| | **Loans<br> at amortized cost** | **Loans<br> at amortized cost** | **Loan commitments, <br>financial guarantee contracts and acceptances outstanding** | **Loan commitments, <br>financial guarantee contracts and acceptances outstanding** | **Securities<br> at amortized** | **Securities<br> at amortized** |
| | **December 31,** | **December 31,** | **December 31,** | **December 31,** | **December 31,** | **December 31,** |
| | **2025** | **2024** | **2025** | **2024** | **2025** | **2024** |
| Gross amount | 9158236 | 8461987 | 161597 | 245065 | 1360497 | 1103755 |
| Amount committed/guaranteed |  |  | 1840657 | 1414380 |  |  |
| **Concentration by sector** |  |  |  |  |  |  |
| Corporations: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Private | 5158895 | 4410940 | 1357884 | 913266 | 723976 | 613629 |
| &nbsp;&nbsp;&nbsp;State-owned | 1194949 | 974470 | 254122 | 82241 | 45516 | 12039 |
| Financial institutions: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Private | 2427179 | 2567264 | 126824 | 140287 | 335039 | 357891 |
| &nbsp;&nbsp;&nbsp;State-owned | 257479 | 426469 | 263424 | 523651 | 65038 | 28650 |
| &nbsp;&nbsp;&nbsp;Sovereign | 119734 | 82844 |  |  | 190928 | 91546 |
| **Total** | **9158236** | **8461987** | **2002254** | **1659445** | **1360497** | **1103755** |
| **Concentration by industry** |  |  |  |  |  |  |
| Financial institutions | 2684658 | 2993733 | 390248 | 663938 | 400077 | 403257 |
| Manufacturing | 2864918 | 2370275 | 448860 | 555844 | 403603 | 369999 |
| Oil and petroleum derived products | 1264187 | 963161 | 707990 | 95878 | 98876 | 89047 |
| Agricultural | 330621 | 454285 | 28950 | 32229 |  |  |
| Services | 686726 | 636000 | 251670 | 163396 | 152037 | 114764 |
| Mining | 387599 | 271186 | 60914 | 51413 | 20014 | 14866 |
| Sovereign | 119734 | 82843 |  |  | 190928 | 54517 |
| Other | 819793 | 690504 | 113622 | 96747 | 94962 | 57305 |
| **Total** | **9158236** | **8461987** | **2002254** | **1659445** | **1360497** | **1103755** |

---

------

**Banco Latinoamericano de Comercio Exterior, S. A. and Subsidiaries**

Notes to the unaudited interim condensed consolidated financial statements

*(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated)*

**3. Financial risk review (continued)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**A. Credit risk (continued)**

<u>Concentration by sector and industry at FVOCI</u>

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Loans at FVOCI** | **Loans at FVOCI** | **Securities FVOCI** | **Securities FVOCI** |
| | **December 31,** | **December 31,** | **December 31,** | **December 31,** |
| | **2025** | **2024** | **2025** | **2024** |
| Gross amount | 77240 |  | 69476 | 99486 |
| **Concentration by sector** |  |  |  |  |
| Corporations: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Private | 52691 |  |  |  |
| Financial institutions: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Private | 19424 |  |  |  |
| &nbsp;&nbsp;&nbsp;State-owned | 5125 |  | 69476 | 99486 |
| **Total** | **77240** | **—** | **69476** | **99486** |
| **Concentration by industry** |  |  |  |  |
| Financial institutions | 24549 |  | 69476 | 99486 |
| Agricultural | 15627 |  |  |  |
| Mining | 37064 |  |  |  |
| **Total** | **77240** | **—** | **69476** | **99486** |

---

------

**Banco Latinoamericano de Comercio Exterior, S. A. and Subsidiaries**

Notes to the unaudited interim condensed consolidated financial statements

*(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated)*

**3. Financial risk review (continued)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**A. Credit risk (continued)**

<u>Concentration by country risk financial instruments at amortized cost</u>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Loans<br> at amortized cost** | **Loans<br> at amortized cost** | **Commitments, <br>financial guarantee contracts and acceptances outstanding** | **Commitments, <br>financial guarantee contracts and acceptances outstanding** | **Securities <br>at amortized cost** | **Securities <br>at amortized cost** |
| | **Loans<br> at amortized cost** | **Loans<br> at amortized cost** | **Commitments, <br>financial guarantee contracts and acceptances outstanding** | **Commitments, <br>financial guarantee contracts and acceptances outstanding** | **Securities <br>at amortized cost** | **Securities <br>at amortized cost** |
| | **December 31,** | **December 31,** | **December 31,** | **December 31,** | **December 31,** | **December 31,** |
| | **2025** | **2024** | **2025** | **2024** | **2025** | **2024** |
| Gross amount | 9158236 | 8461987 | 161597 | 245065 | 1360497 | 1103755 |
| Amount committed/guaranteed |  |  | 1840657 | 1414380 |  |  |
| **Concentration by country** |  |  |  |  |  |  |
| Argentina | 198905 | 113226 | 169695 | 248 |  |  |
| Australia |  |  |  |  | 9936 | 9906 |
| Belgium |  | 17859 |  |  | 15696 | 15181 |
| Bolivia |  |  |  | 1000 |  |  |
| Brazil | 1130060 | 1257185 | 135428 | 188125 | 7009 | 24281 |
| Canada |  | 11718 | 26591 | 26413 | 47743 | 44828 |
| Chile | 501107 | 454602 | 67887 | 50976 | 29986 | 37713 |
| China | 14917 | 14995 |  |  |  |  |
| Colombia | 1080071 | 920975 | 84837 | 82225 | 14898 | 15143 |
| Costa Rica | 461965 | 357112 | 61212 | 55263 | 8141 | 8128 |
| Dominican Republic | 919673 | 855539 | 135214 | 122057 |  |  |
| Ecuador | 183502 | 223461 | 206845 | 269369 |  |  |
| El Salvador | 100756 | 71716 | 29084 | 20000 |  |  |
| Finland |  |  |  |  | 13365 |  |
| France | 68555 | 95577 | 72443 | 46573 | 15011 | 14985 |
| Germany |  |  | 15000 | 15000 | 29998 | 29737 |
| Guatemala | 1537176 | 1011790 | 117786 | 113028 |  |  |
| Honduras | 108137 | 219527 | 22862 | 1625 |  |  |
| Ireland |  |  |  |  | 14408 | 14407 |
| Italy | 23375 | 1747 | 1442 |  |  |  |
| Jamaica | 57969 | 43503 |  |  |  |  |
| Japan |  | 9446 |  |  | 60402 | 61834 |
| Korea |  |  |  |  | 34704 | 14448 |
| Kuwait |  |  |  |  | 20159 |  |
| Mexico | 1116825 | 1015738 | 205726 | 184208 | 1269 | 27898 |
| Netherlands |  |  | 4500 | 25764 | 9933 |  |
| Norway |  |  |  |  | 24577 | 10092 |
| Panama | 571207 | 455288 | 35989 | 22243 | 75494 | 71552 |
| Paraguay | 210047 | 196674 | 250 | 230 |  |  |
| Peru | 173441 | 418460 | 212219 | 356978 | 9971 | 30878 |
| Puerto Rico | 6632 | 20762 | 15000 | 10000 |  |  |
| Qatar |  |  |  |  | 30103 |  |
| Arabia Saudi |  |  |  |  | 49919 |  |
| Singapore | 131154 | 282311 | 5507 | 6514 |  |  |
| Trinidad and Tobago | 171001 | 167522 | 43000 |  |  |  |
| Spain |  |  |  | 8 |  |  |
| Sweden |  |  |  |  | 14932 | 14832 |
| Suriname | 3627 |  | 146401 |  |  |  |
| United States of America | 219563 | 137642 | 39198 | 7114 | 740864 | 618680 |
| United Kingdom | 103665 | 74985 | 141696 |  | 50315 | 39232 |
| United Arab Emirates |  |  |  |  | 3521 |  |
| Uruguay | 64906 | 12627 | 6442 | 54484 |  |  |
| Multilateral |  |  |  |  | 28143 |  |
| **Total** | **9158236** | **8461987** | **2002254** | **1659445** | **1360497** | **1103755** |

---

------

**Banco Latinoamericano de Comercio Exterior, S. A. and Subsidiaries**

Notes to the unaudited interim condensed consolidated financial statements

*(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated)*

**3. Financial risk review (continued)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**A. Credit risk (continued)**

<u>Risk rating and concentration by country financial instruments at FVOCI</u>

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Loans at FVOCI** | **Loans at FVOCI** | **Securities at FVOCI** | **Securities at FVOCI** |
| | **December 31,** | **December 31,** | **December 31,** | **December 31,** |
| | **2025** | **2024** | **2025** | **2024** |
| Gross amount | 77240 |  |  | 99486 |
| **Concentration by country** |  |  |  |  |
| &nbsp;&nbsp;El Salvador | 24549 |  |  |  |
| &nbsp;&nbsp;Guatemala | 15627 |  |  |  |
| &nbsp;&nbsp;Dominican Republic | 37064 |  |  |  |
| &nbsp;&nbsp;Multilateral | **—** | **—** | 69476 | 99486 |
| **Total** | **77240** | **—** | **69476** | **99486** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*v.Offsetting financial assets and liabilities*

The following tables include financial assets and liabilities that are offset in the condensed consolidated financial statement or subject to an enforceable master netting arrangement:

<u>Derivative financial instruments – assets</u>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| | **Gross <br>amounts of <br>assets** | **Gross amounts <br>offset in the <br>consolidated<br>statement of <br>financial <br>position** | **Net amount of<br>assets presented <br>in the <br>consolidated<br>statement of <br>financial <br>position** | **Gross amounts not offset in <br>the consolidated statement of <br>financial position** | **Gross amounts not offset in <br>the consolidated statement of <br>financial position** | **Net <br>amount** |
| | **Gross <br>amounts of <br>assets** | **Gross amounts <br>offset in the <br>consolidated<br>statement of <br>financial <br>position** | **Net amount of<br>assets presented <br>in the <br>consolidated<br>statement of <br>financial <br>position** | **Financial <br>instruments** | **Cash collateral <br>received** | **Net <br>amount** |
| Derivative financial instruments used for hedging | 69837 |  | 69837 |  | (49266) | 20571 |
| **Total** | **69837** | **—** | **69837** | **—** | **(49266)** | **20571** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| | **Gross <br>amounts of <br>assets** | **Gross amounts <br>offset in the <br>consolidated<br>statement of <br>financial <br>position** | **Net amount of<br>assets presented <br>in the <br>consolidated<br>statement of <br>financial <br>position** | **Gross amounts not offset in <br>the consolidated statement of <br>financial position** | **Gross amounts not offset in <br>the consolidated statement of <br>financial position** | **Net <br>amount** |
| | **Gross <br>amounts of <br>assets** | **Gross amounts <br>offset in the <br>consolidated<br>statement of <br>financial <br>position** | **Net amount of<br>assets presented <br>in the <br>consolidated<br>statement of <br>financial <br>position** | **Financial <br>instruments** | **Cash collateral <br>received** | **Net <br>amount** |
| Derivative financial instruments used for hedging | 22315 |  | 22315 |  | (6410) | 15905 |
| **Total** | **22315** | **—** | **22315** | **—** | **(6410)** | **15905** |

---

------

**Banco Latinoamericano de Comercio Exterior, S. A. and Subsidiaries**

Notes to the unaudited interim condensed consolidated financial statements

*(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated)*

**3. Financial risk review (continued)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**A. Credit risk (continued)**

<u>Securities sold under repurchase agreements and derivative financial instruments – liabilities</u>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| | **Gross <br>amounts of <br>liabilities** | **Gross amounts <br>offset in the <br>consolidated<br>statement of <br>financial <br>position** | **Net amount of<br>liabilities presented <br>in the<br>consolidated<br>statement of <br>financial <br>position** | **Gross amounts <br>not offset in the consolidated <br>statement of<br>financial position** | **Gross amounts <br>not offset in the consolidated <br>statement of<br>financial position** | **Net <br>amount** |
| | **Gross <br>amounts of <br>liabilities** | **Gross amounts <br>offset in the <br>consolidated<br>statement of <br>financial <br>position** | **Net amount of<br>liabilities presented <br>in the<br>consolidated<br>statement of <br>financial <br>position** | **Financial <br>instruments** | **Cash collateral <br>received** | **Net <br>amount** |
| Securities sold under repurchase agreements at amortized cost | (130509) |  | (130509) | 147480 |  | 16971 |
| Derivative financial instruments used for hedging at FVTPL | (62506) |  | (62506) |  | 51353 | (11153) |
| **Total** | **(193015)** | **—** | **(193015)** | **147480** | **51353** | **5818** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| | **Gross <br>amounts of <br>liabilities** | **Gross amounts <br>offset in the <br>consolidated<br>statement of <br>financial <br>position** | **Net amount of<br>liabilities presented <br>in the<br>consolidated<br>statement of <br>financial <br>position** | **Gross amounts <br>not offset in the consolidated <br>statement of<br>financial position** | **Gross amounts <br>not offset in the consolidated <br>statement of<br>financial position** | **Net <br>amount** |
| | **Gross <br>amounts of <br>liabilities** | **Gross amounts <br>offset in the <br>consolidated<br>statement of <br>financial <br>position** | **Net amount of<br>liabilities presented <br>in the<br>consolidated<br>statement of <br>financial <br>position** | **Financial <br>instruments** | **Cash collateral <br>received** | **Net <br>amount** |
| Securities sold under repurchase agreements at amortized cost | (214035) |  | (214035) | 239046 | 564 | 25575 |
| Derivative financial instruments used for hedging at FVTPL | (141705) |  | (141705) |  | 116743 | (24962) |
| **Total** | **(355740)** | **—** | **(355740)** | **239046** | **117307** | **613** |

---

------

**Banco Latinoamericano de Comercio Exterior, S. A. and Subsidiaries**

Notes to the unaudited interim condensed consolidated financial statements

*(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated)*

**3. Financial risk review (continued)**

 **&nbsp;&nbsp;&nbsp;&nbsp;**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**B.Liquidity risk**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*i.Exposure to liquidity risk*

The key measure used by the Bank for managing liquidity risk is the ratio of net liquid assets to deposits from customers and funding with a a remaining tenor of 30 days. For this purpose, 'net liquid assets' include cash and cash equivalents which consist of deposits from banks and customers, as well as corporate debt securities with investment grade.

The following table details the Bank's liquidity ratios:

---

| | | |
|:---|:---|:---|
| | **December 31,** | **December 31,** |
| | **2025** | **2024** |
| At the end of the period | 159.26% | 264.58% |
| Period/year average | 129.49% | 181.75% |
| Maximum of the period | 212.53% | 335.28% |
| Minimun of the period | 103.63% | 107.20% |

---

The following table includes the Bank's liquid assets by country risk:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| *(in millions of USD dollars)* | **Cash and due from<br>banks** | **Securities FVOCI** | **Total** | **Cash and due from<br>banks** | **Securities FVOCI** | **Total** |
| United State of America | 1784 |  | 1784 | 1650 |  | 1650 |
| Other O.E.C.D countries | 3 |  | 3 | 41 |  | 41 |
| Latin America | 5 |  | 5 | 3 |  | 3 |
| Multilateral | 50 | 69 | 119 | 125 | 99 | 224 |
| **Total** | **1842** | **69** | **1911** | **1819** | **99** | **1918** |

---

The following table includes the Bank's demand deposits from customers and its ratio to total deposits from customers:

---

| | | |
|:---|:---|:---|
| | **December 31,** | **December 31,** |
| | **2025** | **2024** |
| *(in millions of USD dollars)* | | |
| Demand and "overnight" deposits | 879 | 694 |
| Demand and "overnight" deposits to total deposits | 13.31% | 12.82% |

---

The liquidity requirements resulting from the Bank's demand deposits from customers is satisfied by the Bank's liquid assets as follows:

---

| | | |
|:---|:---|:---|
| | **December 31,** | **December 31,** |
| | **2025** | **2024** |
| *(in millions of USD dollars)* | | |
| Total liquid assets | 1911 | 1918 |
| Total assets to total liabilities | 28.94% | 35.45% |
| Total liquid assets in the <br> Federal Reserve of the United States of America | 90.74% | 53.51% |

---

------

**Banco Latinoamericano de Comercio Exterior, S. A. and Subsidiaries**

Notes to the unaudited interim condensed consolidated financial statements

*(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated)*

**3. Financial risk review (continued)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**B.Liquidity risk (continued)**

Even though the average term of the Bank's assets exceeds the average term of its liabilities, the associated liquidity risk is diminished by the short-term nature of a significant portion of the loan portfolio, since the Bank is primarily engaged in financing foreign trade.

The following table includes the carrying amount for the Bank's loans and securities short-term portfolio with maturity within one year based on their original contractual term along with its average remaining term:

---

| | | |
|:---|:---|:---|
| | **December 31,** | **December 31,** |
| *(in millions of USD dollars)* | **2025** | **2024** |
| Loan portfolio at amortized cost and investment portfolio less than/equal to 1 year according to its original terms | 5247 | 5127 |
| Average term (days) | 180 | 187 |

---

The following table includes the carrying amount for the Bank's loans and securities medium term portfolio with maturity over one year based on their original contractual terms along with their average remaining term:

---

| | | |
|:---|:---|:---|
| | **December 31,** | **December 31,** |
| *(in millions of USD dollars)* | **2025** | **2024** |
| Loan portfolio at amortized cost and investment portfolio greater than/equal to 1 year according to its original terms | 5349 | 4438 |
| Average term (days) | 1409 | 1388 |

---

------

**Banco Latinoamericano de Comercio Exterior, S. A. and Subsidiaries**

Notes to the unaudited interim condensed consolidated financial statements

*(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated)*

**3. Financial risk review (continued)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**B.Liquidity risk (continued)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*ii.Maturity analysis for financial liabilities and financial assets*

The following table details the future undiscounted cash flows of financial assets and liabilities grouped by their remaining maturity with respect to the contractual maturity:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| | **Up to 3<br>months** | **3 to 6 months** | **6 months to 1<br>year** | **1 to 5 <br>years** | **More than 5<br>years** | **Gross inflows<br>(outflows)** | **Carrying<br>amount** |
| **Assets** | | | | | | | |
| Cash and due from banks | 1906085 | 18379 |  |  |  | 1924464 | 1923731 |
| Securities | 103225 | 134775 | 203340 | 1079046 | 31792 | 1552178 | 1428990 |
| Loans | 2711751 | 1651349 | 2003457 | 3417682 | 331015 | 10115254 | 9141668 |
| Customers' liabilities under acceptances | 102576 | 36206 | 22815 |  |  | 161597 | 161597 |
| Trading derivative financial instruments - assets |  |  |  |  | 1569 | 1569 | 1569 |
| Hedging derivative financial instruments - assets | 7989 | 189 | 3685 | 54654 | 3320 | 69837 | 69837 |
| **Total** | **4831626** | **1840898** | **2233297** | **4551382** | **367696** | **13824899** | **12727392** |
| **Liabilities** |  |  |  |  |  |  |  |
| Customer deposits | (5153930) | (745511) | (503687) | (263845) |  | (6666973) | (6640290) |
| Securities sold under repurchase agreements | (7800) | (68015) | (58631) |  |  | (134446) | (130509) |
| Borrowings and debt | (1093223) | (550119) | (447676) | (2246182) | (49796) | (4386996) | (4030389) |
| Lease liabilities | (361) | (363) | (737) | (6096) | (10872) | (18429) | (18429) |
| Acceptances outstanding | (102576) | (36206) | (22815) |  |  | (161597) | (161597) |
| Trading derivative financial instruments - liabilities |  |  |  |  | (433) | (433) | (433) |
| Hedging derivative financial instruments - liabilities | (7888) |  | (16755) | (37459) | (404) | (62506) | (62506) |
| **Total** | **(6365778)** | **(1400214)** | **(1050301)** | **(2553582)** | **(61505)** | **(11431380)** | **(11044153)** |
| **Subtotal net position** | **(1534152)** | **440684** | **1182996** | **1997800** | **306191** | **2393519** | **1683239** |
| **Off-balance sheet contingencies** |  |  |  |  |  |  |  |
| Confirmed letters of credit | 141926 | 74009 | 24185 |  |  | 240120 |  |
| Stand-by letters of credit and guarantees | 301972 | 169182 | 255763 | 109517 |  | 836434 |  |
| Loans and letter of credit commitments | 59206 | 139204 | 134631 | 397491 | 33571 | 764103 |  |
| **Total** | **503104** | **382395** | **414579** | **507008** | **33571** | **1840657** |  |
| **Total net position** | **(2037256)** | **58289** | **768417** | **1490792** | **272620** | **552862** |  |

---

------

**Banco Latinoamericano de Comercio Exterior, S. A. and Subsidiaries**

Notes to the unaudited interim condensed consolidated financial statements

*(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated)*

**3. Financial risk review (continued)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**B.Liquidity risk (continued)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| | **Up to 3<br>months** | **3 to 6<br>months** | **6 months to 1<br>year** | **1 to 5 <br>years** | **More than 5<br>years** | **Gross inflows<br>(outflows)** | **Carrying<br>amount** |
| **Assets** | | | | | | | |
| Cash and due from banks | 1944338 | 5286 | 15710 |  |  | 1965334 | 1965145 |
| Securities | 84980 | 66341 | 109616 | 1036660 | 44522 | 1342119 | 1201930 |
| Loans | 2759031 | 2018051 | 1557065 | 2583263 | 247238 | 9164648 | 8383829 |
| Customers' liabilities under acceptances | 153091 | 53466 | 38508 |  |  | 245065 | 245065 |
| Hedging derivative financial instruments - assets | 1218 | 9484 | 951 | 10592 | 70 | 22315 | 22315 |
| **Total** | **4942658** | **2152628** | **1721850** | **3630515** | **291830** | **12739481** | **11818284** |
| **Liabilities** |  |  |  |  |  |  |  |
| Customer deposits | (4413516) | (597055) | (354883) | (93369) |  | (5458823) | (5461901) |
| Securities sold under repurchase agreements | (101528) |  | (23268) | (89355) |  | (214151) | (214035) |
| Borrowings and debt | (1138907) | (688359) | (675517) | (2274040) | (47425) | (4824248) | (4388720) |
| Lease liabilities | (244) | (276) | (684) | (5592) | (12437) | (19233) | (19232) |
| Acceptances outstanding | (153091) | (53466) | (38508) |  |  | (245065) | (245065) |
| Hedging derivative financial instruments - liabilities | (9379) | (70) | (1192) | (129609) | (1455) | (141705) | (141705) |
| **Total** | **(5816665)** | **(1339226)** | **(1094052)** | **(2591965)** | **(61317)** | **(10903225)** | **(10470658)** |
| **Subtotal net position** | **(874007)** | **813402** | **627798** | **1038550** | **230513** | **1836256** | **1347626** |
| **Off-balance sheet contingencies** |  |  |  |  |  |  |  |
| Confirmed letters of credit | 358624 | 141422 | 36304 |  |  | 536350 |  |
| Stand-by letters of credit and guarantees | 141843 | 133149 | 178798 | 66495 |  | 520285 |  |
| Loans and letter of credit commitments | 60341 | 39900 | 40350 | 208868 | 8286 | 357745 |  |
| **Total** | **560808** | **314471** | **255452** | **275363** | **8286** | **1414380** |  |
| **Total net position** | **(1434815)** | **498931** | **372346** | **763187** | **222227** | **421876** |  |

---

------

**Banco Latinoamericano de Comercio Exterior, S. A. and Subsidiaries**

Notes to the unaudited interim condensed consolidated financial statements

*(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated)*

**3. Financial risk review (continued)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**B.Liquidity risk (continued)**

The amounts in the tables above have been compiled as follows:

---

| | |
|:---|:---|
| **Type of financial instrument** | **Basis on which amounts are compiled** |
| Financial assets and liabilities | Undiscounted cash flows, which include estimated interest payments. |
| Issued financial guarantee contracts, and loan commitments | Earliest possible contractual maturity. For issued financial guarantee contracts, the maximum amount of the guarantee is allocated to the earliest period in which the guarantee could be called. |
| Derivative financial assets and financial liabilities | Contractual undiscounted cash flows. The amounts shown are the gross nominal inflows and outflows for derivatives that simultaneously settle gross or net amounts. |

---

Future undiscounted cash flow presented in the table above on some financial assets and financial liabilities vary materially from contractual cash flows. The principal difference is that the undiscounted future cash flows of floating rate assets and liabilities are calculated using projected market rates.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*iii.Liquidity reserves*

As part of the management of liquidity risk arising from financial liabilities, the Bank holds liquid assets comprising cash and cash equivalents.

The following table sets out the components of the Banks's liquidity reserves:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **December 31, 2025** | **December 31, 2025** | **December 31, 2024** | **December 31, 2024** |
| | **Amount** | **Fair value** | **Amount** | **Fair value** |
| Balances with Federal Reserve of the United <br>States of America | 1734178 | 1734178 | 1020858 | 1020858 |
| Cash and balances with other bank <sup>(1)</sup> | 108031 | 108031 | 799073 | 799073 |
| **Total Liquidity reserves** | **1842209** | **1842209** | **1819931** | **1819931** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<sup>(1)</sup>Excludes pledged deposits.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*iv.Financial assets available to support future funding*

The following table sets out the Bank's financial assets available to support future funding:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **December 31, 2025** | **December 31, 2025** | **December 31, 2024** | **December 31, 2024** |
| | **Guaranteed** | **Available as collateral** | **Guaranteed** | **Available as collateral** |
| Cash and due from banks | 80953 | 1842209 | 143907 | 1819931 |
| Notional of investment securities | 510029 | 929898 | 558981 | 665715 |
| Loans at amortized cost - outstanding principal balance |  | 9104725 |  | 8375172 |
| **Total** | **590982** | **11876832** | **702888** | **10860818** |

---

The total financial assets recognized in the consolidated statement of financial position that had been pledged as collateral for liabilities as of December 31, 2025 and 2024 are show in the table above.

The Bank manages market risk by considering the consolidated financial situation of the Bank.

------

**Banco Latinoamericano de Comercio Exterior, S. A. and Subsidiaries**

Notes to the unaudited interim condensed consolidated financial statements

*(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated)*

**3. Financial risk review (continued)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**C.Market risk** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*i.Interest rate risk*

The table below details the Bank's exposure based on interest rate repricing/maturity date for the notional amount of the interest bearing financial assets and liabilities on interest-bearing financial assets and liabilities:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| | **Up to 3 <br>months** | **3 to 6 <br>months** | **6 months to <br>1 year** | **1 to 5 years** | **More than 5 <br>years** | **Non interest <br>rate risk** | **Total** |
| **Assets** | | | | | | | |
| Cash and due from banks | 1890450 | 18000 |  |  |  | 14712 | 1923162 |
| Securities - principal | 268495 | 132025 | 195048 | 797495 | 21571 |  | 1414634 |
| Loans - principal balance | 5441055 | 2170978 | 1263048 | 301109 | 5111 |  | 9181301 |
| **Total** | **7600000** | **2321003** | **1458096** | **1098604** | **26682** | **14712** | **12519097** |
| **Liabilities** |  |  |  |  |  |  |  |
| Demand deposits and time deposits | (5136030) | (792898) | (426691) | (244735) |  | (3862) | (6604216) |
| Securities sold under repurchase agreements | (129698) |  |  |  |  |  | (129698) |
| Borrowings and debt | (2794546) | (674844) | (106834) | (416874) |  |  | (3993098) |
| **Total** | **(8060274)** | **(1467742)** | **(533525)** | **(661609)** | **—** | **(3862)** | **(10727012)** |
| Net effect of derivative financial instruments held |  |  |  |  |  |  |  |
| for interest risk management | 5138 | 371 | (1041) | 4043 |  |  | 8511 |
| **Total interest rate sensitivity** | **(455136)** | **853632** | **923530** | **441038** | **26682** | **10850** | **1800596** |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| | **Up to 3 <br>months** | **3 to 6 <br>months** | **6 months to <br>1 year** | **1 to 5 years** | **More than 5 <br>years** | **Non interest <br>rate risk** | **Total** |
| **Assets** | | | | | | | |
| Cash and due from banks | 1940840 | 5000 | 15000 |  |  | 2998 | 1963838 |
| Securities - principal | 83294 | 64955 | 104954 | 907612 | 28510 |  | 1189325 |
| Loans - principal balance | 5053040 | 2025688 | 1039106 | 248045 | 9293 |  | 8375172 |
| **Total** | **7077174** | **2095643** | **1159060** | **1155657** | **37803** | **2998** | **11528335** |
| **Liabilities** |  |  |  |  |  |  |  |
| Demand deposits and time deposits | (4404015) | (645546) | (336377) | (24130) |  | (2656) | (5412724) |
| Securities sold under repurchase agreements | (133898) |  | (58636) | (20397) |  |  | (212931) |
| Borrowings and debt | (2932280) | (801575) | (460355) | (158106) |  |  | (4352316) |
| **Total** | **(7470193)** | **(1447121)** | **(855368)** | **(202633)** | **—** | **(2656)** | **(9977971)** |
| Net effect of derivative financial instruments held |  |  |  |  |  |  |  |
| for interest risk management | (8159) | 9414 | (242) | (119018) | (1385) |  | (119390) |
| **Total interest rate sensitivity** | **(401178)** | **657936** | **303450** | **834006** | **36418** | **342** | **1430974** |

---

------

**Banco Latinoamericano de Comercio Exterior, S. A. and Subsidiaries**

Notes to the unaudited interim condensed consolidated financial statements

*(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated)*

**3. Financial risk review (continued)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**C.Market risk (continued)**

Interest rate risk management is complemented by monitoring the sensitivity of the Bank´s financial assets and liabilities, considering several standard interest rate scenarios. The standard scenarios considered monthly include a parallel decline or increase of 50bps, 100bps, and 200 bps across all yield curves, which are evaluated based on market behavior.

The Bank performs a sensitivity analysis of the most likely increase or decrease in market interest rates at the reporting date, assuming non-asymmetric movements in the yield curves and a constant financial situation to assess the effect on profit or loss.

Interest rate sensitivity analysis affect reported equity in the following ways:

-&nbsp;&nbsp;&nbsp;&nbsp;Retained earnings: increases or decreases in net interest income and in fair values of derivatives reported in profit or loss;

-&nbsp;&nbsp;&nbsp;&nbsp;Fair value reserve: increases or decreases in fair values of financial assets at FVOCI reported directly in equity; and

-&nbsp;&nbsp;&nbsp;&nbsp;Hedging reserve: increases or decreases in fair values of hedging instruments designated in qualifying cash flow hedge relationships.

This sensitivity provides an analysis of changes in interest rates, considering the previous year´s interest rate volatility.

Additionally, the Bank measures the sensitivity of the equity value (EVE) following the methodology described by the Basel Committee on Banking Supervision, which measures the interest rate risk embedded in the equity value, which for interest rate risk purposes is defined as the difference between the net present value of assets less the net present value of liabilities due, based on the impact of a change in interest rates on such present values.

The following table presents the sensitivity analysis performed for the Bank:

&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Change in<br>interest rate** | **Effect on<br>profit or loss** | **Effect on<br>equity** | **Effect on equity value (EVE)** |
| **December 31, 2025** | +50 bps | 1592 | 5215 | (9823) |
|  | -50 bps | (1773) | (5320) | 9911 |
| **December 31, 2024** | +50 bps | 343 | 9586 | (14709) |
|  | -50 bps | (668) | (9770) | 14714 |

---

------

**Banco Latinoamericano de Comercio Exterior, S. A. and Subsidiaries**

Notes to the unaudited interim condensed consolidated financial statements

*(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated)*

**3. Financial risk review (continued)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**C.Market risk (continued)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*ii. &nbsp;&nbsp;&nbsp;&nbsp;Foreign exchange risk*

The following table presents the maximum exposure amount in foreign currency of the Bank's carrying amount of total assets and liabilities, except for hedging relationships.

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| | **Brazilian <br>Real** | **European <br>Euro** | **Japanese <br>Yen** | **Colombian <br>Peso** | **Mexican <br>Peso** | **Other**<br>**Currencies**<sup>(1)</sup> | **Total** |
| **Exchange rate** | 5.49 | 1.17 | 156.74 | 3773.58 | 18.01 |  |  |
| **Assets** |  |  |  |  |  |  |  |
| Cash and due from banks | 60 | 1847 | 8 | 50 | 2309 | 80 | 4354 |
| Loans |  | 27472 |  |  | 415704 | 25175 | 468351 |
| **Total** | **60** | **29319** | **8** | **50** | **418013** | **25255** | **472705** |
| **Liabilities** |  |  |  |  |  |  |  |
| Borrowings and debt |  | (28910) |  |  | (417953) | (25175) | (472038) |
| **Total** | **—** | **(28910)** | **—** | **—** | **(417953)** | **(25175)** | **(472038)** |
| **Net currency position** | **60** | **409** | **8** | **50** | **60** | **80** | **667** |

---

&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| | **Brazilian <br>Real** | **European Euro** | **Japanese <br>Yen** | **Colombian <br>Peso** | **Mexican <br>Peso** | **Other**<br>**Currencies**<sup>(1)</sup> | **Total** |
| **Exchange rate** | 6.17 | 1.04 | 157.00 | 4405.29 | 20.89 |  |  |
| **Assets** |  |  |  |  |  |  |  |
| Cash and due from banks | 110 | 242 | 1 | 34 | 1210 | 19 | 1616 |
| Loans |  | 25886 |  |  | 310630 |  | 336516 |
| **Total** | **110** | **26128** | **1** | **34** | **311840** | **19** | **338132** |
| **Liabilities** |  |  |  |  |  |  |  |
| Borrowings and debt |  | (25748) |  |  | (311562) |  | (337310) |
| **Total** | **—** | **(25748)** | **—** | **—** | **(311562)** | **—** | **(337310)** |
| **Net currency position** | **110** | **380** | **1** | **34** | **278** | **19** | **822** |

---

&nbsp;&nbsp;&nbsp;&nbsp;<sup>(1)</sup>It includes other currencies such as: Argentine pesos, Australian dollar, Swiss franc, Sterling pound, Costa Rican colones and Peruvian soles.

.

------

**Banco Latinoamericano de Comercio Exterior, S. A. and Subsidiaries**

Notes to the unaudited interim condensed consolidated financial statements

*(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated)*

**4. Fair value of financial instruments**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**A.Recurring fair value measurements**

Financial instruments measured at fair value on a recurring basis by caption on the consolidated statement of financial position using the fair value hierarchy are described below:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Assets** | | | | |
| Loans at FVOCI |  | 77240 |  | 77240 |
| Securities and other financial assets: |  |  |  |  |
| Securities at FVOCI - Corporate debt |  | 69476 |  | 69476 |
| Total securities and other financial assets |  | 146716 |  | 146716 |
| Derivative financial instruments - assets: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;For trading |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest rate swaps |  | 1569 |  | 1569 |
| &nbsp;&nbsp;&nbsp;&nbsp;For hedging |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest rate swaps |  | 26075 |  | 26075 |
| &nbsp;&nbsp;&nbsp;&nbsp;Cross-currency swaps |  | 43762 |  | 43762 |
| Total derivative financial instrument assets |  | 71406 |  | 71406 |
| **Total assets at fair value** | **—** | **218122** | **—** | **218122** |
| **Liabilities** |  |  |  |  |
| Derivative financial instruments - liabilities: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;For trading |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest rate swaps |  | (433) |  | (433) |
| &nbsp;&nbsp;&nbsp;&nbsp;For hedging |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest rate swaps |  | (5435) |  | (5435) |
| &nbsp;&nbsp;&nbsp;&nbsp;Cross-currency swaps |  | (57027) |  | (57027) |
| &nbsp;&nbsp;&nbsp;&nbsp;Foreign exchange forwards |  | (44) |  | (44) |
| Total derivative financial instruments - liabilities |  | (62939) |  | (62939) |
| **Total liabilities at fair value** | **—** | **(62939)** | **—** | **(62939)** |

---

------

**Banco Latinoamericano de Comercio Exterior, S. A. and Subsidiaries**

Notes to the unaudited interim condensed consolidated financial statements

*(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated)*

**4. Fair value of financial instruments (continued)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**A.Recurring fair value measurements (continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Assets** | | | | |
| Securities and other financial assets: |  |  |  |  |
| Securities at FVOCI - Corporate debt |  | 99486 |  | 99486 |
| Total securities and other financial assets |  | 99486 |  | 99486 |
| Derivative financial instruments - assets: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;For hedging |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest rate swaps |  | 10805 |  | 10805 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cross-currency swaps |  | 11510 |  | 11510 |
| Total derivative financial instrument assets |  | 22315 |  | 22315 |
| **Total assets at fair value** | **—** | **121801** | **—** | **121801** |
| **Liabilities** |  |  |  |  |
| Derivative financial instruments - liabilities: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;For hedging |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest rate swaps |  | 2667 |  | 2667 |
| &nbsp;&nbsp;&nbsp;&nbsp;Cross-currency swaps |  | 139038 |  | 139038 |
| Total derivative financial instruments - liabilities |  | 141705 |  | 141705 |
| **Total liabilities at fair value** | **—** | **141705** | **—** | **141705** |

---

------

**Banco Latinoamericano de Comercio Exterior, S. A. and Subsidiaries**

Notes to the unaudited interim condensed consolidated financial statements

*(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated)*

**4. Fair value of financial instruments (continued)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**B.Non-recurring fair value measurements**

The following table provides information on the carrying value and the estimated fair value of the Bank's financial instruments that are not measured at fair value:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| | **Carrying<br>value** | **Fair <br>value** | **Level 1** | **Level 2** | **Level 3** |
| **Assets** | | | | | |
| Cash and deposits in banks | 1923731 | 1923731 |  | 1923731 |  |
| Securities at amortized cost <sup>(1)</sup> | 1359514 | 1375788 |  | 1375788 |  |
| Loans at amortized cost <sup>(2)</sup> | 9064428 | 9319038 |  | 9319038 |  |
| Customers' liabilities under acceptances | 161597 | 161597 |  | 161597 |  |
| **Liabilities** |  |  |  |  |  |
| Deposits | 6640290 | 6640290 |  | 6640290 |  |
| Securities sold under repurchase agreements | 130509 | 130509 |  | 130509 |  |
| Borrowings and debt, net | 4030389 | 4071789 |  | 4071789 |  |
| Acceptances outstanding | 161597 | 161597 |  | 161597 |  |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| | **Carrying<br>value** | **Fair <br>value** | **Level 1** | **Level 2** | **Level 3** |
| **Assets** | | | | | |
| Cash and deposits in banks | 1965145 | 1965145 |  | 1965145 |  |
| Securities at amortized cost <sup>(1)</sup> | 1102444 | 1102386 |  | 1102386 |  |
| Loans at amortized cost <sup>(2)</sup> | 8383829 | 8573655 |  | 8573655 |  |
| Customers' liabilities under acceptances | 245065 | 245065 |  | 245065 |  |
| **Liabilities** |  |  |  |  |  |
| Deposits | 5461901 | 5461901 |  | 5461901 |  |
| Securities sold under repurchase agreements | 214035 | 214035 |  | 214035 |  |
| Borrowings and debt, net | 4388720 | 4421770 |  | 4421770 |  |
| Acceptances outstanding | 245065 | 245065 |  | 245065 |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<sup>(1)</sup>The carrying value of securities at amortized cost is net of accrued interest receivable of $14.8 million and the allowance for expected credit losses of $1.0 millions as of December 31, 2025 (accrued interest receivable of $13.2 millions and the allowance for expected credit losses of $1.3 millions as of December 31, 2024).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<sup>(2)</sup>The carrying value of loans at amortized cost is net of accrued interest receivable of $87.8 million , the allowance for expected credit losses of $93.8 millions and unearned interest and deferred fees of $34 millions as of December 31, 2025 (accrued interest receivable of $117.9 millions, the allowance for expected credit losses of $78.2 millions and unearned interest and deferred fees of $31.1 millions as of December 31, 2024).

------

**Banco Latinoamericano de Comercio Exterior, S. A. and Subsidiaries**

Notes to the unaudited interim condensed consolidated financial statements

*(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated)*

**5. Cash and due from banks**

The following table presents the details of interest-bearing deposits in banks and restricted deposits:

---

| | | |
|:---|:---|:---|
| | **December 31,** | **December 31,** |
| | **2025** | **2024** |
| Demand deposits <sup>(1)</sup> | 1767208 | 1694931 |
| Time deposits under three months | 75000 | 125000 |
| **Total cash and cash equivalent** | **1842208** | **1819931** |
| &nbsp;&nbsp;Time deposits with original maturity over 90 days and other restricted deposits <sup>(2)</sup> | 80954 | 143907 |
| &nbsp;&nbsp;**Total cash and due from bank** | 1923162 | **1963838** |
| Interest receivable deposits | 724 | 1307 |
| Total cash and due from banks and interest | 1923886 | 1965145 |
| Less: Allowance for credit losses | (155) |  |
| **Total cash and due from banks, net** | **1923731** | **1965145** |

---

The following table presents the pledged and restricted deposits classified by country risk:

---

| | | |
|:---|:---|:---|
| | **December 31,** | **December 31,** |
| | **2025** | **2024** |
| **Country:** |  |  |
| Chile<sup>(2)</sup> | 28000 | 20000 |
| Germany | 12114 | 29263 |
| Japan | 15860 | 18120 |
| Panama | 1600 | 1600 |
| Spain |  | 10300 |
| United Kingdom |  | 254 |
| United States of America<sup>(2)</sup> | 23380 | 64370 |
| **Total** | **80954** | **143907** |

---

&nbsp;&nbsp;&nbsp;&nbsp;<sup>(1)</sup> Demand deposits includes $1,734 million (December 31, 2024: $1,021 million) at Federal Reserve of United States of America.

&nbsp;&nbsp;&nbsp;&nbsp;<sup>(2)</sup> As a December 31, 2025 restricted deposit of $28 million are included (2024: $25 million), with the New York State Department of Financial Services under March 1994 legislation and margin call deposits collateralizing derivative financial instrument transactions.

The following table shows cash and deposits in local and foreign banks, based on the ratings assigned by the rating agencies:

---

| | | |
|:---|:---|:---|
| | **December 31,** | **December 31,** |
| | **2025** | **2024** |
| **Credit rating:** |  |  |
| Aaa-Aa3 | 1739387 | 1418861 |
| A1-A3 | 94735 | 414903 |
| Baa1-Baa3 | 77952 | 129362 |
| Ba1-Ba3 | 200 | 110 |
| B1-B3 |  | 5 |
| Caa1-Caa3 | 75 |  |
| No rating | 10813 | 597 |
|  | **1923162** | **1963838** |

---

------

**Banco Latinoamericano de Comercio Exterior, S. A. and Subsidiaries**

Notes to the unaudited interim condensed consolidated financial statements

*(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated)*

**6. Investment securities**

Securities are presented as follows:

---

| | | | |
|:---|:---|:---|:---|
| **December 31, 2025** | **Amortized cost** | **FVOCI** <sup>(1)</sup>  | **Total** |
| Principal | 1345742 | 68892 | 1414634 |
| Interest receivable | 14755 | 584 | 15339 |
| **Gross amount** | **1360497** | **69476** | **1429973** |
| Allowance <sup>(1)</sup> | (983) |  | (983) |
| **Total** | **1359514** | **69476** | **1428990** |

---

---

| | | | |
|:---|:---|:---|:---|
| **December 31, 2024** | **Amortized cost** | **FVOCI** <sup>(1)</sup>  | **Total** |
| Principal | 1090577 | 98748 | 1189325 |
| Interest receivable | 13178 | 738 | 13916 |
| **Gross amount** | **1103755** | **99486** | **1203241** |
| Allowance <sup>(1)</sup> | (1311) |  | (1311) |
| **Total** | **1102444** | **99486** | **1201930** |

---

&nbsp;&nbsp;&nbsp;&nbsp;<sup>(1)</sup>As of December 31, 2025 and 2024, the loss allowance for losses for securities at FVOCI for $16 thousand and $23 thousand, respectively are included in equity in the consolidated statement of financial position in the line Other comprehensive income.

Securities by contractual maturity are shown in the following table:

---

| | | | |
|:---|:---|:---|:---|
| **December 31, 2025** | **Amortized cost** | **FVOCI** | **Total** |
| Due within 1 year | 372910 | 55540 | 428450 |
| After 1 to 5 years | 951261 | 13352 | 964613 |
| After 5 to 10 years | 21571 |  | 21571 |
| **Balance - principal** | **1345742** | **68892** | **1414634** |

---

---

| | | | |
|:---|:---|:---|:---|
| **December 31, 2024** | **Amortized cost** | **FVOCI** | **Total** |
| Due within 1 year | 223174 | 30029 | 253203 |
| After 1 to 5 years | 838893 | 68719 | 907612 |
| After 5 to 10 years | 28510 | **—** | 28510 |
| **Balance - principal** | **1090577** | **98748** | **1189325** |

---

The following table includes the securities pledged to secure repurchase transactions (see note 13):

---

| | | |
|:---|:---|:---|
| | **December 31,** | **December 31,** |
| | **2025** | **2024** |
| Securities pledged to secure repurchase transactions | 147480 | 239046 |
| Securities sold under repurchase agreements | (130509) | (212931) |

---

As of December 31, 2025, sales were made for $19.9 millions of investments with a significant increase in their credit risk. These sales resulted in write-off against reserves of $47 thousands and losses on sale of $541 thousands attributable to market risk. During the period 2024, no sales of instrument classified at amortized cost were made.

------

**Banco Latinoamericano de Comercio Exterior, S. A. and Subsidiaries**

Notes to the unaudited interim condensed consolidated financial statements

*(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated)*

**7. Loans** 

The following table presents the loan portfolio according to its classification and subsequent measurement:

---

| | | | |
|:---|:---|:---|:---|
| **December 31, 2025** | **Amortized cost** | **FVOCI** <sup>(1)</sup>  | **Total** |
| Loans - principal balance | 9104725 | 76576 | 9181301 |
| Interest receivable | 87837 | 982 | 88819 |
| Unearned interest and deferred fees | (34326) | (318) | (34644) |
| **Gross balance** | **9158236** | **77240** | **9235476** |
| Loss allowances | (93808) | **—** | (93808) |
| **Loans, net** | **9064428** | **77240** | **9141668** |

---

---

| | | | |
|:---|:---|:---|:---|
| **December 31, 2024** | **Amortized cost** | **FVOCI** <sup>(1)</sup>  | **Total** |
| Loans - principal balance | 8375172 |  | 8375172 |
| Interest receivable | 117931 |  | 117931 |
| Unearned interest and deferred fees | (31116) |  | (31116) |
| **Gross balance** | **8461987** | **—** | **8461987** |
| Loss allowances | (78158) |  | (78158) |
| **Loans, net** | **8383829** | **—** | **8383829** |

---

&nbsp;&nbsp;&nbsp;&nbsp;<sup>(1)</sup>As of December 31, 2025, the loss allowance for losses for loans at FVOCI for $468 thousand are included in equity in the consolidated statement of financial position in the line Other comprehensive income.

As of December 31, 2025, the Bank sold loans measured at FVTPL for $142 million, realizing a gain of $1.8 million; $50 million measured at FVOCI, realizing a gain of $765 thousand; and $15 million measured at amortized cost with a gain of $105 thousand, all recognized under the line item Gain (loss) on financial instruments, net.

The fixed and floating interest rate distribution of the loan portfolio is as follows:

---

| | | |
|:---|:---|:---|
| | **December 31,** | **December 31,** |
| | **2025** | **2024** |
| Fixed interest rate | 5065160 | 4932569 |
| Floating interest rates | 4170316 | 3529418 |
| **Total** | **9235476** | **8461987** |

---

As of December 31, 2025, 70% (2024:75%) of the loan portfolio at fixed interest rates has remaining maturities of less than 180 days. Interest rates on loans ranges from 3.70% to 16.28% (2024: 4.63% to16.28%).

------

**Banco Latinoamericano de Comercio Exterior, S. A. and Subsidiaries**

Notes to the unaudited interim condensed consolidated financial statements

*(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated)*

**8. Loan commitments and financial guarantee contracts** 

The Bank's outstanding loan commitments and financial guarantee contracts are as follows:

---

| | | |
|:---|:---|:---|
| | **December 31,** | **December 31,** |
| | **2025** | **2024** |
| Documentary letters of credit | 240120 | 536350 |
| Stand-by letters of credit and guarantees - commercial risk | 836434 | 520285 |
| Commitments loans | 720435 | 348223 |
| Commitments letter of credit | 43668 | 9522 |
| **Total** | **1840657** | **1414380** |

---

The remaining maturity profile of the Bank's outstanding loan commitments and financial guarantee contracts is as follows:

---

| | | |
|:---|:---|:---|
| | **December 31,** | **December 31,** |
| | **2025** | **2024** |
| Up to 1 year | 1331002 | 1160323 |
| From 1 to 2 years | 213223 | 145127 |
| Over 2 to 5 years | 262861 | 100643 |
| More than 5 years | 33571 | 8287 |
| **Total** | **1840657** | **1414380** |

---

------

**Banco Latinoamericano de Comercio Exterior, S. A. and Subsidiaries**

Notes to the unaudited interim condensed consolidated financial statements

*(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated)*

**9. Gain on financial instruments, net**

The amounts that were recognized in the consolidated statement of profit or loss related to the results of financial instruments are detailed below:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three months ended December 31,** | **Three months ended December 31,** | **Twelve months ended December 31,** | **Twelve months ended December 31,** |
| | **2025** | **2024** | **2025** | **2024** |
| **Realized gain (loss) on sale of financial instruments** |  |  |  |  |
| **Loans** |  |  |  |  |
| &nbsp;&nbsp;At amortized cost |  |  | 105 |  |
| &nbsp;&nbsp;At fair value through profit and loss | 277 | 189 | 1777 | 251 |
| &nbsp;&nbsp;At fair value through other comprehensive income | 127 |  | 765 | 69 |
| **Investment Securities** |  |  |  |  |
| &nbsp;&nbsp;At amortized cost |  |  | (541) |  |
| &nbsp;&nbsp;At fair value through profit and loss | 383 | 310 | (220) | 63 |
| &nbsp;&nbsp;At fair value through other comprehensive income | 1828 |  | 2392 |  |
| **Customer derivatives** |  |  |  |  |
| &nbsp;&nbsp;Realized gain on intermediary derivatives | 3 |  | 3 |  |
| **Other financial instruments** |  |  |  |  |
| &nbsp;&nbsp;(Loss) gain on derivative financial instruments and foreign currency exchange, net | 126 | (696) | 2393 | (454) |
| **Total realized gain (loss) on financial instruments** | **2744** | **(197)** | **6674** | **(71)** |
| **Unrealized gain (loss) on financial instruments** |  |  |  |  |
| &nbsp;&nbsp;Intermediary derivatives | 462 |  | 1134 |  |
| &nbsp;&nbsp;Other trading financial instruments | (2) | (423) | 423 | (411) |
| **Total unrealized gain (loss) on financial instruments** | **460** | **(423)** | **1557** | **(411)** |
| **Total gain (loss) on financial instruments, net** | **3204** | **(620)** | **8231** | **(482)** |

---

During the year ended December 31, 2025, the Bank executed specific sales of investments and loans classified at amortized cost as a result of a significant deterioration in the credit risk profile of such instruments, which no longer met the eligibility criteria established in the Bank's investment and risk management policies.

------

**Banco Latinoamericano de Comercio Exterior, S. A. and Subsidiaries**

Notes to the unaudited interim condensed consolidated financial statements

*(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated)*

**10. Derivative financial instruments**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**A.Trading derivative financial instruments**

The following table details quantitative information on the notional amount and carrying amount of trading derivative instruments:

---

| | | | |
|:---|:---|:---|:---|
| | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| | **Notional**<br>**amount**  | **Carrying amount of trading derivative** | **Carrying amount of trading derivative** |
| | **Notional**<br>**amount**  | **Asset** | **Liability** |
| Interest Rate Swap | 536716 | 1569 | (433) |
|  | **536716** | **1569** | **(433)** |

---

---

| | | |
|:---|:---|:---|
| | **December 31, 2025** | **December 31, 2025** |
| | **Interest rate swap** | **Total** |
| Over 2 to 5 years | 286716 | 286716 |
| More than 5 years | 250000 | 250000 |
| **Total** | **536716** | **536716** |

---

As of December 31, 2024, the entity did not hold any trading derivative instruments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**B.Hedging derivative financial instruments**

The following table details quantitative information on the notional amounts and carrying amounts of the derivative instruments used for hedging by type of risk hedged and type of hedge:

---

| | | | |
|:---|:---|:---|:---|
| | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| | **Notional**<br>**amount** <sup>(2)</sup> | **Carrying amount of hedging <br>instruments** | **Carrying amount of hedging <br>instruments** |
| | **Notional**<br>**amount** <sup>(2)</sup> | **Asset** <sup>(1)</sup> | **Liability** <sup>(1)</sup> |
| **Interest rate risk** | | | |
| Fair value hedges | 1217765 | 26075 | (5435) |
| **Interest rate and foreign exchange risk** |  |  |  |
| Fair value hedges | 204032 | 13012 | (9730) |
| Cash flow hedges | 1113263 | 30750 | (47297) |
| **Foreign exchange risk** |  |  |  |
| Cash flow hedges | 7039 |  | (44) |
|  | **2542099** | **69837** | **(62506)** |

---

------

**Banco Latinoamericano de Comercio Exterior, S. A. and Subsidiaries**

Notes to the unaudited interim condensed consolidated financial statements

*(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated)*

**10. Derivative financial instruments**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**B. Hedging derivative financial instruments (continued)**

---

| | | | |
|:---|:---|:---|:---|
| | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| | **Notional**<br>**amount** <sup>(2)</sup> | **Carrying amount of hedging <br>instruments** | **Carrying amount of hedging <br>instruments** |
| | **Notional**<br>**amount** <sup>(2)</sup> | **Asset** <sup>(1)</sup> | **Liability** <sup>(1)</sup> |
| **Interest rate risk** | | | |
| Fair value hedges | 1132827 | 10805 | (2667) |
| **Interest rate and foreign exchange risk** |  |  |  |
| Fair value hedges | 186288 |  | (13196) |
| Cash flow hedges | 1205427 | 11510 | (125842) |
|  | **2524542** | **22315** | **(141705)** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<sup>(1)</sup>Included in the consolidated statement of financial position under the line Hedging derivative financial instruments - assets or liabilities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<sup>(2)</sup>At December 31, 2025 the notional amounts of derivative financial instruments include $1,234.5 million (2024: $639.6 million) of interest rate swaps and cross currency interest rate swaps, which were designated in aggregate exposure hedges hedging underlying assets totaling $1,217.4 million (2024: $307.8 million at).

**Fair value hedges**

The following table details the notional amounts and carrying amounts of derivative instruments used in fair value hedges by type of risk and hedged item, along with the changes during the years used to determine and recognize the ineffectiveness of the hedge:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| | **Notional amount** | **Carrying amount of<br>hedging instruments** | **Carrying amount of<br>hedging instruments** | **Changes in fair**<br>**value used to**<br>**calculate hedge**<br>**ineffectiveness** <sup>(2)</sup> | **Ineffectiveness**<br>**recognized in**<br>**profit or loss** <sup>(2)</sup> |
| | **Notional amount** | **Asset** <sup>(1)</sup> | **Liability** <sup>(1)</sup> | **Changes in fair**<br>**value used to**<br>**calculate hedge**<br>**ineffectiveness** <sup>(2)</sup> | **Ineffectiveness**<br>**recognized in**<br>**profit or loss** <sup>(2)</sup> |
| **Interest rate risk** | | | | | |
| Loans | 25000 |  | (644) | (636) | (29) |
| Securities at amortized cost | 164600 |  | (4383) | (2932) | 655 |
| Customer deposits | 60000 | 270 |  | 384 | (7) |
| Repurchase agreements | 60485 | 147 | (395) | 9 | (65) |
| Borrowings and debt | 907680 | 25658 | (13) | 14279 | 263 |
| **Interest rate and foreign exchange risk** |  |  |  |  |  |
| Loans | 11938 |  | (742) | (648) | 74 |
| Borrowings and debt | 192094 | 13012 | (8988) | 16553 | (431) |
| **Total** | **1421797** | **39087** | **(15165)** | **27009** | **460** |

---

------

**Banco Latinoamericano de Comercio Exterior, S. A. and Subsidiaries**

Notes to the unaudited interim condensed consolidated financial statements

*(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated)*

**10. Derivative financial instruments (continued)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**B. Hedging derivative financial instruments (continued)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| | **Notional amount** | **Carrying amount of<br>hedging instruments** | **Carrying amount of<br>hedging instruments** | **Changes in fair**<br>**value used to**<br>**calculate hedge**<br>**ineffectiveness** <sup>(2)</sup> | **Ineffectiveness**<br>**recognized in**<br>**profit or loss** <sup>(2)</sup> |
| | **Notional amount** | **Asset** <sup>(1)</sup> | **Liability** <sup>(1)</sup> | **Changes in fair**<br>**value used to**<br>**calculate hedge**<br>**ineffectiveness** <sup>(2)</sup> | **Ineffectiveness**<br>**recognized in**<br>**profit or loss** <sup>(2)</sup> |
| **Interest rate risk** | | | | | |
| Customer deposits | 131000 | 1235 | (164) | (127) | (142) |
| Repurchase agreements | 68985 | 210 | (592) | 71 | 14 |
| Borrowings and debt | 932842 | 9360 | (1911) | (5911) | (516) |
| **Interest rate and foreign exchange risk** |  |  |  |  |  |
| Borrowings and debt | 186288 |  | (13196) | (28571) | 1074 |
| **Total** | **1319115** | **10805** | **(15863)** | **(34538)** | **430** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<sup>(1)</sup>Included in the consolidated statement of financial position under the line Hedging derivative financial instruments - assets or liabilities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<sup>(2)</sup>Included in the consolidated statement of profit or loss under the line Gain (loss) on financial instruments, net.

------

**Banco Latinoamericano de Comercio Exterior, S. A. and Subsidiaries**

Notes to the unaudited interim condensed consolidated financial statements

*(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated)*

**10. Derivative financial instruments (continued)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**B. Hedging derivative financial instruments (continued)**

The following table details the notional amounts and carrying amounts of the fair value hedged items by type of risk and hedged item, along with the changes during the period used to determine and recognize the ineffectiveness of the hedge:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| | **Carrying amount of<br>hedged items** | **Carrying amount of<br>hedged items** | **Line in the consolidated<br>statement of financial<br>position that includes the<br>carrying amount of the<br>hedged items** | **Accumulated amount of<br>fair value hedge<br>adjustments included in<br>the carrying amount of the<br>hedged items** | **Change in fair value of**<br>**the hedged items used**<br>**to calculate hedge**<br>**ineffectiveness** <sup>(1)</sup> |
| | **Asset** | **Liability** | **Line in the consolidated<br>statement of financial<br>position that includes the<br>carrying amount of the<br>hedged items** | **Accumulated amount of<br>fair value hedge<br>adjustments included in<br>the carrying amount of the<br>hedged items** | **Change in fair value of**<br>**the hedged items used**<br>**to calculate hedge**<br>**ineffectiveness** <sup>(1)</sup> |
| **Interest rate risk** | | | | | |
| Loans | 25938 |  | Loans, net | 607 | 607 |
| Securities at amortized cost | 169643 |  | Securities, net | 3587 | 3587 |
| Customer deposits |  | (60477) | Demand deposits | (273) | (391) |
| Repurchase agreements |  | (61027) | Securities sold under repurchase agreements | (168) | (74) |
| Borrowings and debt |  | (301065) | Borrowings and debt, net | (10171) | (14016) |
| **Interest rate and foreign exchange risk** |  |  |  |  |  |
| Loans | 12117 |  | Loans, net | 722 | 722 |
| Borrowings and debt |  | (196801) | Borrowings and debt, net | (2669) | (16984) |
| **Total** | **207698** | **(619370)** |  | **(8365)** | **(26549)** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| | **Carrying amount of<br>hedged items** | **Carrying amount of<br>hedged items** | **Line in the consolidated<br>statement of financial<br>position that includes the<br>carrying amount of the<br>hedged items** | **Accumulated amount of<br>fair value hedge<br>adjustments included in<br>the carrying amount of the<br>hedged items** | **Change in fair value of**<br>**the hedged items used**<br>**to calculate hedge**<br>**ineffectiveness** <sup>(1)</sup> |
| | **Asset** | **Liability** | **Line in the consolidated<br>statement of financial<br>position that includes the<br>carrying amount of the<br>hedged items** | **Accumulated amount of<br>fair value hedge<br>adjustments included in<br>the carrying amount of the<br>hedged items** | **Change in fair value of**<br>**the hedged items used**<br>**to calculate hedge**<br>**ineffectiveness** <sup>(1)</sup> |
| **Interest rate risk** | | | | | |
| Customer deposits |  | (132667) | Demand deposits | (26) | (15) |
| Repurchase agreements |  | (69443) | Securities sold under repurchase agreements | (57) | (57) |
| Borrowings and debt |  | (319174) | Borrowings and debt, net | 3860 | 5395 |
| **Interest rate and foreign exchange risk** |  |  |  |  |  |
| Borrowings and debt |  | (173469) | Borrowings and debt, net | 14316 | 29645 |
| **Total** |  | **(694753)** |  | **18093** | **34968** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<sup>(1)</sup>Included in the consolidated statement of profit or loss under the line Gain (loss) on financial instruments, net.

------

**Banco Latinoamericano de Comercio Exterior, S. A. and Subsidiaries**

Notes to the unaudited interim condensed consolidated financial statements

*(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated)*

**10. Derivative financial instruments (continued)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**B. Hedging derivative financial instruments (continued)**

The following table details the maturity of the notional amount for the derivative instruments used in fair value hedges:

---

| | | | |
|:---|:---|:---|:---|
| | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| | **Interest <br>rate <br>swaps** | **Cross currency swaps** | **Total** |
| Up to 1 year | 374769 | 19882 | 394651 |
| From 1 to 2 years | 298293 | 122176 | 420469 |
| Over 2 to 5 years | 515435 | 51849 | 567284 |
| More than 5 years | 29268 | 10125 | 39393 |
| **Total** | **1217765** | **204032** | **1421797** |

---

---

| | | | |
|:---|:---|:---|:---|
| | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| | **Interest <br>rate <br>swaps** | **Cross currency swaps** | **Total** |
| Up to 1 year | 115263 |  | 115263 |
| From 1 to 2 years | 383268 | 19882 | 403150 |
| Over 2 to 5 years | 605028 | 156281 | 761309 |
| More than 5 years | 29268 | 10125 | 39393 |
| **Total** | **1132827** | **186288** | **1319115** |

---

------

**Banco Latinoamericano de Comercio Exterior, S. A. and Subsidiaries**

Notes to the unaudited interim condensed consolidated financial statements

*(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated)*

**10. Derivative financial instruments (continued)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**B. Hedging derivative financial instruments (continued)**

The following table details the ineffectiveness recognized in profit or loss for the derivative instruments used in fair value hedges:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Three months ended December 31, 2025** | **Three months ended December 31, 2025** | **Three months ended December 31, 2025** | **Twelve months ended December 31, 2025** | **Twelve months ended December 31, 2025** | **Twelve months ended December 31, 2025** |
| | **Current** | **Overdue** | **Total** | **Current** | **Overdue** | **Total** |
| **Ineffectiveness recognized in profit or loss** | | | | | | |
| **Interest rate risk** | | | | | | |
| Loans | 17 |  | 17 | (29) |  | (29) |
| Securities at amortized cost | 153 |  | 153 | 655 |  | 655 |
| Customer deposits | (3) |  | (3) | (7) |  | (7) |
| Repurchase agreements | (3) |  | (3) | (65) | (28) | (93) |
| Borrowings and debt | (138) |  | (138) | 263 | 144 | 407 |
| **Interest rate and foreign exchange risk** |  |  |  |  |  |  |
| Loans | (18) |  | (18) | 74 |  | 74 |
| Borrowings and debt | (1) |  | (1) | (431) |  | (431) |
| **Total** | **7** | **—** | **7** | **460** | **116** | **576** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Three months ended December 31, 2024** | **Three months ended December 31, 2024** | **Three months ended December 31, 2024** | **Twelve months ended December 31, 2024** | **Twelve months ended December 31, 2024** | **Twelve months ended December 31, 2024** |
| | **Current** | **Overdue** | **Total** | **Current** | **Overdue** | **Total** |
| **Ineffectiveness recognized in profit or loss** | | | | | | |
| **Interest rate risk** | | | | | | |
| Loans |  | (4) | (4) |  | 4 | 4 |
| Securities at amortized cost |  | 58 | 58 |  | (58) | (58) |
| Customer deposits | 16 | 25 | 41 | (142) | (10) | (152) |
| Repurchase agreements | 91 |  | 91 | 14 |  | 14 |
| Borrowings and debt | 346 | (8) | 338 | (516) | 6 | (510) |
| **Interest rate and foreign exchange risk** |  |  |  |  |  |  |
| Loans |  | 1 | 1 |  | (1) | (1) |
| Borrowings and debt | (555) | (148) | (703) | 1074 | 127 | 1201 |
| **Total** | **(102)** | **(76)** | **(178)** | **430** | **68** | **498** |

---

------

**Banco Latinoamericano de Comercio Exterior, S. A. and Subsidiaries**

Notes to the unaudited interim condensed consolidated financial statements

*(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated)*

**10. Derivative financial instruments (continued)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**B. Hedging derivative financial instruments (continued)**

**Cash flow hedges**

The following table details the notional amounts and carrying amounts of derivative instruments used in cash flow hedges by type of risk and hedged item, along with the changes during the period used to determine and recognize the ineffectiveness of the hedge:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| | | **Carrying amount of <br>hedging instruments** | **Carrying amount of <br>hedging instruments** | **Change in fair <br>value used for <br>calculating <br>hedge<br>ineffectiveness** | **Changes in the** <br>**fair value of the** <br>**hedging** <br>**instruments** <br>**recognized in**<br>**OCI** <sup>(2)</sup> | **Ineffectiveness** <br>**recognized in** <br>**profit or loss** <sup>(3)</sup> | **Amount** <br>**reclassified** <br>**from the hedge** <br>**reserve to profit**<br>**or loss** <sup>(4)</sup> |
| |<br>**Nominal<br>amount** | **Asset** <sup>(1)</sup> | **Liability** <sup>(1)</sup> | **Change in fair <br>value used for <br>calculating <br>hedge<br>ineffectiveness** | **Changes in the** <br>**fair value of the** <br>**hedging** <br>**instruments** <br>**recognized in**<br>**OCI** <sup>(2)</sup> | **Ineffectiveness** <br>**recognized in** <br>**profit or loss** <sup>(3)</sup> | **Amount** <br>**reclassified** <br>**from the hedge** <br>**reserve to profit**<br>**or loss** <sup>(4)</sup> |
| **Interest rate and foreign exchange risk** | | | | | | | |
| Loans | 20658 |  | (1697) | (1810) | (1810) |  | (44) |
| Borrowings and debt | 1092605 | 30750 | (45600) | 100248 | 100802 | 554 | (466) |
| **Foreign exchange risk** |  |  |  |  |  |  |  |
| Loans | 7039 |  | (44) | (44) | (44) |  | (278) |
| Customer deposits |  |  |  |  |  |  | 3 |
| Borrowings and debt |  |  |  |  |  |  | 22 |
| **Total** | **1120302** | **30750** | **(47341)** | **98394** | **98948** | **554** | **(763)** |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| | | **Carrying amount of <br>hedging instruments** | **Carrying amount of <br>hedging instruments** | **Change in fair <br>value used for <br>calculating <br>hedge<br>ineffectiveness** | **Changes in the** <br>**fair value of the** <br>**hedging** <br>**instruments** <br>**recognized in**<br>**OCI** <sup>(2)</sup> | **Ineffectiveness** <br>**recognized in** <br>**profit or loss** <sup>(3)</sup> | **Amount** <br>**reclassified** <br>**from the hedge** <br>**reserve to profit**<br>**or loss** <sup>(4)</sup> |
| |<br>**Nominal<br>amount** | **Asset** <sup>(1)</sup> | **Liability** <sup>(1)</sup> | **Change in fair <br>value used for <br>calculating <br>hedge<br>ineffectiveness** | **Changes in the** <br>**fair value of the** <br>**hedging** <br>**instruments** <br>**recognized in**<br>**OCI** <sup>(2)</sup> | **Ineffectiveness** <br>**recognized in** <br>**profit or loss** <sup>(3)</sup> | **Amount** <br>**reclassified** <br>**from the hedge** <br>**reserve to profit**<br>**or loss** <sup>(4)</sup> |
| **Interest rate and foreign exchange risk** | | | | | | | |
| Loans | 19509 | 1372 |  | 1256 | 1258 | 2 | 24 |
| Borrowings and debt | 1185918 | 10138 | (125842) | (163797) | (164418) | (621) | 99 |
| **Total** | **1205427** | **11510** | **(125842)** | **(162541)** | **(163160)** | **(619)** | **123** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<sup>(1)</sup> Included in the consolidated statement of financial position under the line Hedging derivative financial instruments - assets or liabilities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<sup>(2)</sup> Included in equity in the consolidated statement of financial position under the line Other comprehensive income (loss).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<sup>(3)</sup> Hedge ineffectiveness attributable to matured hedges included in the consolidated statement of profit or loss in the line Gain (loss) on financial instruments, net.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<sup>(4)</sup> Hedging reserve attributable to expired hedges reclassified to the consolidated statement of profit or loss in the line Gain (loss) on financial instruments, net.

------

**Banco Latinoamericano de Comercio Exterior, S. A. and Subsidiaries**

Notes to the unaudited interim condensed consolidated financial statements

*(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated)*

**10. Derivative financial instruments (continued)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**B. Hedging derivative financial instruments (continued)**

The following table details the carrying amounts of the cash flow hedged items by type of risk and hedged item, along with the changes during the period used to determine and recognize the ineffectiveness of the hedge:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| | **Carrying amount of <br>hedged items** | **Carrying amount of <br>hedged items** | **Line in the consolidated <br>statement of financial <br>position that includes <br>the carrying amount of<br>the hedged items** | **Change in the fair value** <br>**of the hedged items used** <br>**to calculate the hedge**<br>**ineffectiveness** <sup>(1)</sup> | **Cash flow<br>hedge reserve** |
| | **Asset** | **Liability** | **Line in the consolidated <br>statement of financial <br>position that includes <br>the carrying amount of<br>the hedged items** | **Change in the fair value** <br>**of the hedged items used** <br>**to calculate the hedge**<br>**ineffectiveness** <sup>(1)</sup> | **Cash flow<br>hedge reserve** |
| **Interest rate and foreign exchange risk** | | | | | |
| Loans | 21191 |  | Loans, net | 1810 | 61 |
| Borrowings and debt |  | (1101787) | Borrowings and debt, net | (100248) | (1332) |
| **Foreign exchange risk** |  |  |  |  |  |
| Loans | 7077 |  | Loans, net | 44 | (29) |
| **Total** | **28268** | **(1101787)** |  | **(98394)** | **(1300)** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| | **Carrying amount of <br>hedged items** | **Carrying amount of <br>hedged items** | **Line in the consolidated <br>statement of financial <br>position that includes <br>the carrying amount of<br>the hedged items** | **Change in the fair value** <br>**of the hedged items used** <br>**to calculate the hedge**<br>**ineffectiveness** <sup>(1)</sup> | **Cash flow<br>hedge reserve** |
| | **Asset** | **Liability** | **Line in the consolidated <br>statement of financial <br>position that includes <br>the carrying amount of<br>the hedged items** | **Change in the fair value** <br>**of the hedged items used** <br>**to calculate the hedge**<br>**ineffectiveness** <sup>(1)</sup> | **Cash flow<br>hedge reserve** |
| **Interest rate and foreign exchange risk** | | | | | |
| Loans | 19964 |  | Loans, net | (1256) | 37 |
| Borrowings and debt |  | (1087247) | Borrowings and debt, net | 163797 | (895) |
| **Total** | **19964** | **(1087247)** |  | **162541** | **(858)** |

---

The following table details the maturity of the derivative instruments used in cash flow hedges:

---

| | | | |
|:---|:---|:---|:---|
| | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| | **Foreign exchange forward contract** | **Cross currency swaps** | **Total** |
| Up to 1 year | 7039 | 324098 | 331137 |
| From 1 to 2 years |  | 116762 | 116762 |
| Over 2 to 5 years |  | 643135 | 643135 |
| More than 5 years |  | 29268 | 29268 |
| **Total** | **7039** | **1113263** | **1120302** |

---

------

**Banco Latinoamericano de Comercio Exterior, S. A. and Subsidiaries**

Notes to the unaudited interim condensed consolidated financial statements

*(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated)*

**10. Derivative financial instruments (continued)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**B. Hedging derivative financial instruments (continued)**

---

| | | | |
|:---|:---|:---|:---|
| | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| | **Foreign exchange forward contract** | **Cross currency swaps** | **Total** |
| Up to 1 year |  | 454581 | 454581 |
| From 1 to 2 years |  | 303441 | 303441 |
| Over 2 to 5 years |  | 418137 | 418137 |
| More than 5 years |  | 29268 | 29268 |
| **Total** | **—** | **1205427** | **1205427** |

---

The following table details the ineffectiveness recognized in profit or loss for the derivative instruments used in cash flow hedges:&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Three months ended December 31, 2025** | **Three months ended December 31, 2025** | **Three months ended December 31, 2025** | **Twelve months ended December 31, 2025** | **Twelve months ended December 31, 2025** | **Twelve months ended December 31, 2025** |
| | **Current** | **Overdue** | **Total** | **Current** | **Overdue** | **Total** |
| **Ineffectiveness recognized in profit or loss** | | | | | | |
| **Interest rate and foreign exchange risk** | | | | | | |
| Loans |  |  |  |  | (44) | (44) |
| Borrowings and debt | (142) |  | (142) | 554 | (466) | 88 |
| **Foreign exchange risk** |  |  |  |  |  |  |
| Loans |  | 8 | 8 |  | (278) | (278) |
| Customer deposits |  |  |  |  | 3 | 3 |
| Borrowings and debt |  | 23 | 23 |  | 22 | 22 |
| **Total** | **(142)** | **31** | **(111)** | **554** | **(763)** | **(209)** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Three months ended December 31, 2024** | **Three months ended December 31, 2024** | **Three months ended December 31, 2024** | **Twelve months ended December 31, 2024** | **Twelve months ended December 31, 2024** | **Twelve months ended December 31, 2024** |
| | **Current** | **Overdue** | **Total** | **Current** | **Overdue** | **Total** |
| **Ineffectiveness recognized in profit or loss** | | | | | | |
| **Interest rate and foreign exchange risk** | | | | | | |
| Loans |  | (24) | (24) | 2 | 24 | 26 |
| Borrowings and debt | (64) | (106) | (170) | (621) | 99 | (522) |
| **Total** | **(64)** | **(130)** | **(194)** | **(619)** | **123** | **(496)** |

---

------

**Banco Latinoamericano de Comercio Exterior, S. A. and Subsidiaries**

Notes to the unaudited interim condensed consolidated financial statements

*(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated)*

**11. Other assets**

Following is a summary of other assets:

---

| | | |
|:---|:---|:---|
| | **December 31,** | **December 31,** |
| | **2025** | **2024** |
| Accounts receivable | 5480 | 2996 |
| Prepaid expenses | 1173 | 3342 |
| Prepaid fees and commissions | 567 | 468 |
| IT projects under development | 9755 | 5113 |
| Improvement project under development | 1710 | 709 |
| Severance fund | 2934 | 2508 |
| Other | 6965 | 1914 |
| **Total** | **28584** | **17050** |

---

**12. Customer deposits**

Following is a summary of customer deposits:

---

| | | |
|:---|:---|:---|
| | **December 31,** | **December 31,** |
| | **2025** | **2024** |
| Demand deposits | 698570 | 440029 |
| Time deposits | 5905646 | 4972695 |
|  | **6604216** | **5412724** |
| Interest payable | 36074 | 49177 |
| **Total** | **6640290** | **5461901** |

---

The remaining and contractual maturity profile of the Bank's deposits, excluding interest payable, is as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Remaining term** | **Remaining term** | **Original contractual** | **Original contractual** |
| | **December 31,** | **December 31,** | **December 31,** | **December 31,** |
| | **2025** | **2024** | **2025** | **2024** |
| Demand | 698570 | 440029 | 698570 | 440029 |
| Up to 1 month | 3110156 | 2797904 | 2033327 | 1793178 |
| From 1 to 3 months | 1331165 | 1162833 | 1291076 | 999506 |
| From 3 to 6 months | 732639 | 585542 | 1420130 | 1092876 |
| From 6 month to 1 year | 487901 | 342460 | 824770 | 901145 |
| From 1 to 2 years | 217045 | 73642 | 303104 | 158621 |
| From 2 to 5 years | 26740 | 10314 | 33239 | 27369 |
| **Total** | **6604216** | **5412724** | **6604216** | **5412724** |

---

The following table presents additional information regarding the Bank's deposits:

---

| | | |
|:---|:---|:---|
| | **December 31,** | **December 31,** |
| | **2025** | **2024** |
| Aggregate amount of $100,000 or more | 6603585 | 5411881 |
| Aggregate amount of deposits in the New York Agency | 1891001 | 1581865 |

---

------

**Banco Latinoamericano de Comercio Exterior, S. A. and Subsidiaries**

Notes to the unaudited interim condensed consolidated financial statements

*(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated)*

**12. Customer deposits (continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three months ended December 31,** | **Three months ended December 31,** | **Twelve months ended December 31,** | **Twelve months ended December 31,** |
| | **2025** | **2024** | **2025** | **2024** |
| Interest expense on deposits made in the New York Agency | 18899 | 22273 | 75285 | 88668 |

---

**13. Securities sold under repurchase agreements**

The following table details the financing under repurchase agreement:

---

| | | |
|:---|:---|:---|
| | **December 31,** | **December 31,** |
| | **2025** | **2024** |
| Financing transactions under repurchase agreements | 129698 | 212931 |
| Interest payable | 811 | 1104 |
| **Total financing under repurchase agreement** | **130509** | **214035** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three months ended December 31,** | **Three months ended December 31,** | **Twelve months ended December 31,** | **Twelve months ended December 31,** |
| | **2025** | **2024** | **2025** | **2024** |
| Interest expense on financing contracts under repurchase agreement | 1472 | 2332 | 8485 | 11675 |

---

Financing contracts under repurchase agreements generate interest range from 4.20% to 5.36% (December 31, 2024: 4.49% to 5.36%) with several maturities up to October 16, 2026.

As indicated in Note 6, as of December 31, 2025, the repurchase agreements were secured by investments classified as amortized cost by the amount of $147 millions (2024: $239 millions).

**14. Borrowings and debt**

Some borrowing agreements include various events of default and covenants relating to minimum capital adequacy ratios, incurrence of additional liens, and asset sales, as well as other customary covenants, representations and warranties. As of December 31, 2025, the Bank was in compliance with all those covenants.

Carrying amount of borrowings and debt is detailed as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| | **Short-Term** | **Short-Term** | **Long-term** | **Long-term** | |
| | **Borrowings** | **Debt** | **Borrowings** | **Debt** |<br>**Total** |
| Principal | 1508959 | 1750 | 757775 | 1732286 | 4000770 |
| Transaction costs | (48) | (2) | (2952) | (4670) | (7672) |
| Interest payable | 9095 | 5 | 7787 | 20404 | 37291 |
|  | **1518006** | **1753** | **762610** | **1748020** | **4030389** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| | **Short-Term** | **Short-Term** | **Long-term** | **Long-term** | |
| | **Borrowings** | **Debt** | **Borrowings** | **Debt** |<br>**Total** |
| Principal | 1652536 | 835 | 877842 | 1830751 | 4361964 |
| Transaction costs |  | (1) | (3764) | (5883) | (9648) |
| Interest payable | 9677 | 7 | 5337 | 21383 | 36404 |
|  | **1662213** | **841** | **879415** | **1846251** | **4388720** |

---

------

**Banco Latinoamericano de Comercio Exterior, S. A. and Subsidiaries**

Notes to the unaudited interim condensed consolidated financial statements

*(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated)*

**14. Borrowings and debt (continued)**

**Short-term borrowings and debt**

The breakdown of short-term (original maturity of less than one year) borrowings and debt, along with contractual interest rates, is as follows:

---

| | | |
|:---|:---|:---|
| | **December 31,** | **December 31,** |
| | **2025** | **2024** |
| **Short-term borrowings:** |  |  |
| At fixed interest rates | 1508959 | 1353048 |
| At floating interest rates |  | 299488 |
| Principal | **1508959** | **1652536** |
| Less: Transaction costs | (48) |  |
| Interest payable | 9095 | 9677 |
| Total short-term borrowings, net | **1518006** | **1662213** |
| **Short-term debt:** |  |  |
| At fixed interest rates | 1750 | 835 |
| At floating interest rates |  |  |
| Principal | **1750** | **835** |
| Less: Transaction costs | (2) | (1) |
| Interest payable | 5 | 7 |
| Total short-term debt, net | **1753** | **841** |
| **Total short-term borrowings and debt** | **1519759** | **1663054** |
| Range of fixed interest rates on borrowings and debt in U.S. dollars | 3.75% to 4.77% | 4.50% to 5.87% |
| Range of floating interest rates on borrowings in U.S. dollars |  | 5.13% to 5.24% |
| Range of fixed interest rates on borrowings in Mexican pesos | 7.68% to 7.72%  | 11.15% |
| Range of floating interest rates on borrowings and debt in Mexican pesos |  | 10.69% to 10.74% |
| Range of fixed interest rates on borrowings and debt in Euros | 2.52% to 2.63% | 3.39% to 3.87% |

---

&nbsp;&nbsp;&nbsp;&nbsp;

The outstanding balances of short-term borrowings and debt by currency, excluding prepaid commissions, are as follows:

---

| | | |
|:---|:---|:---|
| | **December 31,** | **December 31,** |
| | **2025** | **2024** |
| US dollar | 1455149 | 1404690 |
| Mexican peso | 26650 | 172368 |
| Euros | 28910 | 76313 |
| **Total** | **1510709** | **1653371** |

---

**&nbsp;&nbsp;&nbsp;&nbsp;**

------

**Banco Latinoamericano de Comercio Exterior, S. A. and Subsidiaries**

Notes to the unaudited interim condensed consolidated financial statements

*(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated)*

**14. Borrowings and debt (continued)**

**Long-term borrowings and debt** 

The breakdown of long-term borrowings and debt (original maturity of more than one year), along with contractual interest rates, plus prepaid commissions are as follows:

---

| | | |
|:---|:---|:---|
| | **December 31,** | **December 31,** |
| | **2025** | **2024** |
| **Long-term borrowings:** |  |  |
| At fixed interest rates | 64244 | 60308 |
| At floating interest rates | 693531 | 817534 |
| Principal | **757775** | **877842** |
| Less: Transaction costs | (2952) | (3764) |
| Interest payable | 7787 | 5337 |
| Total long-term borrowings, net | **762610** | **879415** |
| **Long-term debt:** |  |  |
| At fixed interest rates | 737148 | 1293378 |
| At floating interest rates | 995138 | 537373 |
| Principal | **1732286** | **1830751** |
| Less: Prepaid commissions | (4670) | (5883) |
|  | 20404 | 21383 |
| Total long-term debt, net | **1748020** | **1846251** |
| **Total long-term borrowings and debt, net** | **2510630** | **2725666** |
| Range of fixed interest rates on borrowings and debt in U.S. dollars | 4.75% to 6.15% | 2.38% to 6.15% |
| Range of floating interest rates on borrowings and debt in U.S. dollars | 4.80% to 5.66% | <br>5.44% to 6.31% |
| Range of fixed interest rates on borrowings and debt in Mexican pesos | 6.50% to 10.78% | 6.50% to 10.78% |
| Range of floating interest rates on borrowings and debt in Mexican pesos | 7.66% to 8.61% | 10.62% to 11.52% |
| Range of floating interest rates on borrowings and debt in Costa Rican colones | 6.28% |  |
| Range of fixed interest rates on debt in Japanese yens | 0.95% to 1.90%  | 0.77% to 1.54% |
| Range of fixed interest rates on debt in Euros | 0.9% to 3.16% | 0.90% |
| Range of fixed interest rates on debt in Australian dollars | 6.81% | 6.81% |
| Range of fixed interest rates on debt in Sterling pounds | 1.50% | 1.50% |
| Range of fixed interest rates on debt in Peruvian sol | 7.00% | 7.00% |

---

------

**Banco Latinoamericano de Comercio Exterior, S. A. and Subsidiaries**

Notes to the unaudited interim condensed consolidated financial statements

*(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated)*

**14. Borrowings and debt (continued)**

**Long-term borrowings and debt (continued)**

The outstanding balances of long-term borrowings and debt by currency, excluding prepaid commissions, are as follows:

---

| | | |
|:---|:---|:---|
| | **December 31,** | **December 31,** |
| | **2025** | **2024** |
| US dollar | 786949 | 1355773 |
| Mexican peso | 1480905 | 1170304 |
| Japanese yen | 125167 | 112671 |
| Euro | 29326 | 31063 |
| Peruvian soles | 27961 | 25020 |
| Australian dollar | 9599 | 9133 |
| Sterling pound | 4979 | 4629 |
| Costa Rican colones | 25175 |  |
| **Carrying amount - principal** | **2490061** | **2708593** |

---

Future payments of long-term borrowings and debt outstanding as of December 31, 2025, are as follows:

---

| | |
|:---|:---|
| **Year** | **Outstanding** |
| 2026 | 414,945 |
| 2027 | 890,133 |
| 2028 | 832,376 |
| 2029 | 290,696 |
| 2030 | 19,000 |
| 2031 | 33,312 |
| 2034 | 9,599 |
| **Carrying amount - principal** | **2,490,061** |

---

The following table presents the reconciliation of movements of borrowings and debt arising from financing activities, as presented in the condensed consolidated statement of cash flows:

---

| | | | |
|:---|:---|:---|:---|
| | **2025** | **2024** | **2023** |
| **Balance as of January 1,** | **4388720** | **4396969** | **4458912** |
| **Monetary transactions:** |  |  |  |
| &nbsp;&nbsp;Net decrease in short-term borrowings and debt | (149687) | (58529) | (500650) |
| &nbsp;&nbsp;Proceeds from long-term borrowings and debt | 587857 | 1191695 | 496342 |
| &nbsp;&nbsp;Decrease of long-term borrowings and debt | (1006585) | (826432) | (221306) |
| **Non-monetary transactions:** |  |  |  |
| &nbsp;&nbsp;Change in foreign currency rates | 200808 | (307035) | 159407 |
| &nbsp;&nbsp;Fair value adjustment due to hedge accounting relationship | 9486 | (3369) | 2126 |
| &nbsp;&nbsp;Other adjustments | 1587 | 448 | 1525 |
| **Liability-related** |  |  |  |
| &nbsp;&nbsp;Interest expense | 235316 | 197831 | 152081 |
| &nbsp;&nbsp;Interest payable | (237113) | (202858) | (151468) |
| **Balance as of December 31,** | **4030389** | **4388720** | **4396969** |

---

------

**Banco Latinoamericano de Comercio Exterior, S. A. and Subsidiaries**

Notes to the unaudited interim condensed consolidated financial statements

*(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated)*

**15. Lease liabilities**

Maturity analysis of contractual undiscounted cash flows of the lease liabilities is detailed below:

---

| | | |
|:---|:---|:---|
| | **December 31,** | **December 31,** |
| | **2025** | **2024** |
| Up to 1 year | 2126 | 1931 |
| From 1 to 5 years | 8134 | 8213 |
| After 5 to 10 years | 12179 | 13827 |
| **Total undiscounted lease liabilities** | **22439** | **23971** |
| Short-term | 1461 | 1217 |
| Long-term | 16968 | 18015 |
| **Total lease liabilities included in the condensed consolidated statement of financial position** | **18429** | **19232** |

---

Amounts recognized in the condensed consolidated statement of cash flows:

---

| | | |
|:---|:---|:---|
| | **December 31,** | **December 31,** |
| | **2025** | **2024** |
| Payments of lease liabilities | 1,195 | 854 |

---

Amounts recognized in condensed consolidated statement of profit or loss:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three months ended December 31,** | **Three months ended December 31,** | **Twelve months ended December 31,** | **Twelve months ended December 31,** |
| | **2025** | **2024** | **2025** | **2024** |
| Interest on lease liabilities | (175) | (184) | (714) | (620) |

---

**16. Other liabilities**

Following is a summary of other liabilities:

---

| | | |
|:---|:---|:---|
| | **December 31,** | **December 31,** |
| | **2025** | **2024** |
| Accruals and other accumulated expenses | 26901 | 31806 |
| Accounts payable | 8751 | 6236 |
| Unearned commissions | 15628 | 7305 |
| Others | 83 | 84 |
| **Total** | **51363** | **45431** |

---

------

**Banco Latinoamericano de Comercio Exterior, S. A. and Subsidiaries**

Notes to the unaudited interim condensed consolidated financial statements

*(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated)*

**17. Other equity instruments**

During the period, the Bank issued perpetual non-cumulative subordinated instruments, which qualify as Additional Tier 1 capital instruments ("AT1"), as described below.

---

| | | |
|:---|:---|:---|
| | **December 31,** | **December 31,** |
| | **2025** | **2024** |
| Perpetual Non-Cumulative Fixed to Fixed Subordinates Notes to 7.5% annual, net of issuance costs of $2 million | 197976 |  |

---

The principal terms and conditions of the AT1 instruments (the "Notes") are described below:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.The Notes constitute unsecured and subordinated obligations of the Bank, ranking junior to all senior debt and other preferred liabilities of the Bank, including any other existing or future subordinated debt. In a liquidation or resolution scenario, holders of the Notes will absorb losses prior to senior creditors and depositors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.The Notes are perpetual instruments, with no contractual maturity date and no contractual obligation to repay principal, except in the regulatory circumstances expressly provided for in the issuance documentation and solely at the option of the Bank. Holders of the Notes have no automatic right to demand early repayment of principal.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c.The Bank may redeem the Notes, in whole or in part, subject to the satisfaction of the minimum contractual periods and prior regulatory approval.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d.The Notes bear a fixed interest rate until the first reset date, scheduled for September 18, 2032. Thereafter, the interest rate will be reset every five years, based on a United States Treasury reference rate plus a fixed contractual margin. Interest payments, if declared, will be made semi-annually on March 18 and September 18 of each year, at the sole discretion of the Bank.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e.Interest on the Notes is non-cumulative and may be paid, in whole or in part, at the discretion of the Bank or subject to regulatory restrictions. Any interest not paid shall not accumulate nor give rise to any future payment entitlement. The non-payment of interest does not constitute a breach or an event of default.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f.Upon the occurrence of certain regulatory or resolution events, the Notes are subject to loss-absorption mechanisms, which may result in the reduction or write-off of principal and/or interest, in accordance with the contractual terms and applicable prudential regulations.

On August 29, 2025, the Superintendence of Banks of Panama authorized the issuance of the Notes as Additional Tier 1 capital, in accordance with the provisions of Banking Rule No. 1-2015.

------

**Banco Latinoamericano de Comercio Exterior, S. A. and Subsidiaries**

Notes to the unaudited interim condensed consolidated financial statements

*(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated)*

**18. Earnings per share**

The following table presents a reconciliation of profit and share data used in the basic earnings per share ("EPS") computations for the dates indicated:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three months ended December 31,** | **Three months ended December 31,** | **Twelve months ended December 31,** | **Twelve months ended December 31,** |
| | **2025** | **2024** | **2025** | **2024** |
| *(Thousands of U.S. dollars)* |  |  |  |  |
| Profit for the period/year | 55998 | 51490 | 226882 | 205873 |
| *(U.S. dollars)* |  |  |  |  |
| Basic earnings per share | 1.50 | 1.40 | 6.11 | 5.60 |
| *(Thousands of shares)* |  |  |  |  |
| Weighted average of common shares outstanding applicable to basic EPS | **37231** | **36790** | **37152** | **36740** |

---

**19. Fee and commission income**

Fee and commission income from contracts with customers broken down by main types of services, are detailed as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three months ended December 31,** | **Three months ended December 31,** | **Twelve months ended December 31,** | **Twelve months ended December 31,** |
| | **2025** | **2024** | **2025** | **2024** |
| Structured services | 3422 | 3725 | 17706 | 10220 |
| Letters of credit and guarantees | 8447 | 6940 | 31847 | 26542 |
| Credit commitments | 3411 | 1585 | 11568 | 7710 |
| Other commissions | 47 | 55 | 812 | 1011 |
| **Total fee and commission income** | **15327** | **12305** | **61933** | **45483** |
| Fees and commission expense | (861) | (399) | (2920) | (1082) |
| **Total** | **14466** | **11906** | **59013** | **44401** |

---

The following table present information the unearned commission that is expected to be recognized on the existing contracts:

---

| | |
|:---|:---|
| | **December 31,<br>2025** |
| Up to 1 year | 9386 |
| From 1 to 2 years | 1359 |
| More than 2 years | 1691 |
| **Total** | **12436** |

---

------

**Banco Latinoamericano de Comercio Exterior, S. A. and Subsidiaries**

Notes to the unaudited interim condensed consolidated financial statements

*(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated)*

**20. Business segment information**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following table provides certain information regarding the Bank's operations by segment:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Three months ended December 31, 2025** | **Three months ended December 31, 2025** | **Three months ended December 31, 2025** | **Twelve months ended December 31, 2025** | **Twelve months ended December 31, 2025** | **Twelve months ended December 31, 2025** |
| | **Commercial** | **Treasury** | **Total** | **Commercial** | **Treasury** | **Total** |
| Interest income | 157486 | 33447 | 190933 | 632020 | 136444 | 768464 |
| Interest expense | (139) | (120034) | (120173) | (571) | (496711) | (497282) |
| Inter-segment net interest income | (93574) | 93574 |  | (388997) | 388997 |  |
| **Net interest income** | **63773** | **6987** | **70760** | **242452** | **28730** | **271182** |
| Other income (expense), net | 15093 | 2949 | 18042 | 62767 | 5621 | 68388 |
| Total income | 78866 | 9936 | 88802 | 305219 | 34351 | 339570 |
| Provision for credit losses | (5499) | 97 | (5402) | (22251) | 132 | (22119) |
| Operating expenses | (21399) | (6003) | (27402) | (71377) | (19192) | (90569) |
| **Segment profit** | **51968** | **4030** | **55998** | **211591** | **15291** | **226882** |
| **Segment assets** |  |  |  | **9327239** | **3430570** | **12757809** |
| **Segment liabilities** |  |  |  | **188470** | **10867813** | **11056283** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Three months ended December 31, 2024** | **Three months ended December 31, 2024** | **Three months ended December 31, 2024** | **Twelve months ended December 31, 2024** | **Twelve months ended December 31, 2024** | **Twelve months ended December 31, 2024** |
| | **Commercial** | **Treasury** | **Total** | **Commercial** | **Treasury** | **Total** |
| Interest income | 163329 | 34076 | 197405 | 641677 | 143355 | 785032 |
| Interest expense | (147) | (130321) | (130468) | (496) | (525325) | (525821) |
| Inter-segment net interest income | (103767) | 103767 |  | (410222) | 410222 |  |
| **Net interest income** | **59415** | **7522** | **66937** | **230959** | **28252** | **259211** |
| Other income (expense), net | 12167 | (679) | 11488 | 45436 | (1011) | 44425 |
| Total income | 71582 | 6843 | 78425 | 276395 | 27241 | 303636 |
| Provision for credit losses | (4250) | 212 | (4038) | (17930) | 631 | (17299) |
| Operating expenses | (17809) | (5088) | (22897) | (63983) | (16481) | (80464) |
| **Segment profit** | **49523** | **1967** | **51490** | **194482** | **11391** | **205873** |
| **Segment assets** |  |  |  | **8649283** | **3192339** | **11841622** |
| **Segment liabilities** |  |  |  | **265826** | **10210207** | **10476033** |

---

------

**Banco Latinoamericano de Comercio Exterior, S. A. and Subsidiaries**

Notes to the unaudited interim condensed consolidated financial statements

*(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated)*

**20. Business segment information (continued)**

The following table shows the reconciliation of information by business segments:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three months ended December 31,** | **Three months ended December 31,** | **Twelve months ended December 31,** | **Twelve months ended December 31,** |
| | **2025** | **2024** | **2025** | **2024** |
| Profit for the period | 55998 | 51490 | 226882 | 205873 |
| **Assets:** |  |  |  |  |
| Assets from reportable segments |  |  | 12757809 | 11841622 |
| Other assets - unallocated |  |  | 28584 | 17051 |
| **Total** |  |  | **12786393** | **11858673** |
| **Liabilities:** |  |  |  |  |
| Liabilities from reportable segments |  |  | 11056283 | 10476033 |
| Other liabilities - unallocated |  |  | 51363 | 45431 |
| **Total** |  |  | **11107646** | **10521464** |

---

**21. Related party transactions**

The total compensation paid to directors and the executives as representatives of the Bank amounted to:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three months ended December 31,** | **Three months ended December 31,** | **Twelve months ended December 31,** | **Twelve months ended December 31,** |
| | **2025** | **2024** | **2025** | **2024** |
| **Expenses:** |  |  |  |  |
| Compensation costs to directors | 1051 | 950 | 2854 | 2391 |
| Compensation costs to executives | 1260 | 2115 | 13801 | 11461 |

---

Compensation costs of Bank´s directors and executives include annual cash retainers and the cost of granted restricted stock and restricted stock units, as detailed in the Stock Incentive Plan.

**22. Litigation**

As of December 31, 2025, the Bank is involved in a legal proceeding in which a payment of approximately $3.5 million is being claimed. Such proceeding is ongoing and had not been resolved as of the date of these consolidated financial statements. Based on management's assessment and the opinion of external legal counsel, it is not considered probable that the resolution of this proceeding will result in an outflow of economic resources for the Bank. Accordingly, no provision has been recognized in the consolidated financial statements in respect of this matter.

------

**Banco Latinoamericano de Comercio Exterior, S. A. and Subsidiaries**

Notes to the unaudited interim condensed consolidated financial statements

*(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated)*

**23. Applicable laws and regulations**

<u>Liquidity index</u>

Rule No. 2-2018 issued by the Superintendence of Banks of Panama (SBP) establishes that every general license or international license bank must guarantee, with a higher level of confidence, that it is in the position to face its intraday liquidity obligations in a period when liquidity pressure may affect the lending market. For that purpose, the SBP has established a short-term liquidity coverage ratio known as "Liquidity Coverage Ratio or LCR". This ratio is measured through the quotient of two amounts, the first one corresponds to the high-quality liquid assets and the second one corresponds to the net cash outflows in 30 days.

As of December 31, 2025, and 2024, the minimum LCR to be reported to the SBP was 100%. The Bank´s LCR as of December 31, 2025 was 159.3% (2024: 264.6%).

Rule No. 4-2008 issued by the SBP, establishes that every general license or international license bank must always maintain, a minimum balance of liquid assets equivalent to 30% of the gross total of its deposits in the Republic of Panama or overseas up to 186 days, counted from the reporting date. The formula is based on the following parameters:

---

| | |
|:---|:---|
| Liquid assets | &nbsp;&nbsp;x 100 = X% (Liquidity index) |
| Liabilities (Deposits received) | &nbsp;&nbsp;x 100 = X% (Liquidity index) |

---

The liquidity index reported by the Bank to the regulator as of December 31, 2025 was 60.7% (2024: 47.2%).

<u>Capital adequacy</u>

The Banking Law in the Republic of Panama and Rules No. 01-2015, 03-2016 and 05-2023 require that the general license banks maintain a total capital adequacy index. The Bank's capital, in accordance with current banking regulations, is separated into Ordinary Primary Capital: which consists of paid-in capital in shares, excess paid-in capital, declared reserves, retained earnings, minority interest shares and other accumulated comprehensive income items, less regulatory adjustments; and Additional Primary Capital: which consists of instruments issued by the Bank or consolidated subsidiaries that meet the requirements for inclusion, issue premiums, less regulatory adjustments applicable to additional primary capital.

As of December 31, 2025, the capital adequacy index may not be less, at any time, than 9.25% (including the capital conservation buffer of 1.25% required for 2025, according to Agreement No. 05-2023) of total assets and off-balance sheet irrevocable contingency transactions, weighted according to their risks; and ordinary primary capital plus conservation buffer that shall not be less than 5.75% of its assets and off-balance sheet transactions that represent an irrevocable contingency, weighted based on their risks; and a total primary capital plus conservation buffer that shall not be less than 7.5% of its assets and off-balance sheet transactions that represent an irrevocable contingency, weighted based on their risks.

*Capital Conservation Calculation*

As of July 2024, Agreement No. 05-2023, issued by the Superintendency of Banks of Panama, came into force, which establishes rules on the creation of a capital conservation buffer, whose objectives are:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) ensure that banks accumulate reserves that can be used in case of incurring losses,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) that banks do not fail to comply with the established minimum requirements, without considering the conservation buffer, in episodes of deterioration in solvency.

As established in the Agreement, banking entities must establish a capital conservation buffer of 2.5%, (established in a phased manner starting with 0.50% as of July 1, 2024, 0.75% for July 1, 2025 and 1.25% for July 1, 2026) of risk-weighted assets (credit, market and operating), made up of capital ordinary primary and in addition to all the minimum regulatory capital requirements that are established, for which the total minimum regulatory capital will be 8.5% for 2024, 9.25% for 2025 and 10.5% for 2026, (before the modification of the Rule 8%).

The primary objectives of the Bank's capital management policy are to ensure that the Bank complies with capital requirements imposed by local regulators and maintains strong credit ratings and healthy capital ratios to support its business and to maximize shareholder value.

------

**Banco Latinoamericano de Comercio Exterior, S. A. and Subsidiaries**

Notes to the unaudited interim condensed consolidated financial statements

*(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated)*

**23. Applicable laws and regulations (continued)**

The Bank manages its capital structure and adjusts it according to changes in economic conditions and the risk characteristics of its activities. To maintain or adjust the capital structure, the Bank may adjust the amount of dividend payment to shareholders, return capital to shareholders or issue capital securities.

No changes have been made to the objectives, policies and processes from previous periods. However, they are under constant review by the Board.

The information corresponding to the total capital adequacy index is as follows:

---

| | | |
|:---|:---|:---|
| | **December 31,** | **December 31,** |
| | **2025** | **2024** |
| Ordinary primary capital, net of adjustments | 1322970 | 1195914 |
| Capital funds | 1675484 | 1341031 |
| Risk-weighted assets | 10822730 | 9873772 |
| Ordinary capital index | 12.2% | 12.1% |
| Ordinary capital total | 14.1% | 12.1% |
| Capital adequacy index | 15.5% | 13.6% |

---

<u>Leverage ratio</u>

Article No. 17 of the Rule No. 1-2015 establishes the leverage ratio of a regulated entity by means of the quotient between the ordinary primary capital and the total exposure for non-risk-weighted assets inside and outside the consolidated statement of financial position as established by the SBP. For the determination of the exposure of off-balance-sheet transactions, the criteria established for credit and counterparty credit risk positions will be used. The exposure of the derivatives will be the fair value at which they are recorded in the Bank's assets.

The leverage ratio cannot be lower, at any time, than 3%. The Bank will inform to SBP as often as the compliance with the leverage ratio is determined.

The table below presents the Bank´s leverage ratio in compliance with Article No.17 of Rule No. 1-2015:

---

| | | |
|:---|:---|:---|
| | **December 31,** | **December 31,** |
| | **2025** | **2024** |
| Ordinary capital | 1322970 | 1195914 |
| Non-risk-weighted assets | 13402426 | 12220660 |
| Leverage ratio | 9.9% | 9.8% |

---

<u>Regulatory reserves</u>

Below is a list of the regulatory reserves that the Bank maintains in accordance with the prudential standards of the SBP:

---

| | | |
|:---|:---|:---|
| | **December 31,** | **December 31,** |
| | **2025** | **2024** |
| Dynamic asset reserve | 154538 | 145117 |
| Regulatory reserve for individual credits | 4555 | 4549 |
| **Total regulatory reserves** | **159093** | **149666** |

---

*Credit risk coverage - dynamic provision*

The SBP by means of Rule No. 4-2013, establishes the compulsory constitution of a dynamic provision in addition to the specific credit provision as part of the total provisions for the credit risk coverage.

------

**Banco Latinoamericano de Comercio Exterior, S. A. and Subsidiaries**

Notes to the unaudited interim condensed consolidated financial statements

*(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated)*

**23. Applicable laws and regulations (continued)**

The dynamic provision is an equity item associated to the regulatory capital but does not replace or offset the capital adequacy requirements established by the SBP. This allocation is restricted for dividend distribution purposes.

*Methodology for the constitution of the regulatory credit reserve*

The SBP by means of the General Resolution of Board of Directors SBP-GJD-0003-2013 of July 9, 2013, establishes the accounting methodology for differences that arise between the application of IFRS and the application of prudential regulations issued by the SBP; as well as the additional disclosures required to be included in the notes to the consolidated financial statements.

The parameters established in this methodology are the following:

–The calculations of accounting balances in accordance with IFRS and the prudential standards issued by the SBP will be carried out and the respective figures will be compared.

–When the calculation made in accordance with IFRS results in a higher reserve or provision for the bank compared to the one resulting from the use of the prudential standards issued by the SBP, the Bank will account the IFRS figures.

–When the impact of the use of prudential standards results in a higher reserve or provision for the Bank, the effect of the application of IFRS will be recognized in profit or loss, and the difference between IFRS calculation compared to the prudential standards calculation will be appropriated from retained earnings as a regulatory credit reserve. If the Bank does not have sufficient retained earnings, the difference will be presented as an accumulated deficit account.

–The regulatory credit reserve mentioned in paragraph 3 of this Rule may not be reversed against retained earnings as long as there are differences between IFRS and the prudential standards.

Considering that the Bank presents its consolidated financial statements under IFRS, specifically for its expected credit reserves under IFRS 9, the line "Regulatory credit reserve" established by the SBP has been used to present the difference between the application of the accounting standard used and the prudential regulations of the SBP to comply with the requirements of Rule No. 4-2013.

*Capital reserve*

In addition to capital reserves required by regulations, the Bank maintains a capital reserve of $95.2 million, which was voluntarily established. Pursuant to Article No. 69 of the Banking Law, reduction of capital reserves requires prior approval of SBP.

*Regulatory reserve for individual credits*

Rule No. 11-2019, amended by Rule No. 4-2013, indicates that all loans classified as unrecoverable must be written off within a period of no more than one year. For corporate loans with real estate collateral, the bank will write off all loans classified as unrecoverable within a period of no more than two years, from the date on which it was classified in that category. After two years, if the Bank has not made the write-off, it must create a reserve in the equity account, through the appropriation of retained earnings, which will be charged to the value of the loan net of the provisions already established, according to the percentages established in the following table:

---

| | |
|:---|:---|
| | **Percentage applicable** |
| **Period** | |
| At the beginning of the third year | 50% |
| At the beginning of the fourth year | 50% |

---

In accordance with the provisions of Rule No. 11-2019 and 4-2013, the bank recognized regulatory provisions for individual loans for $4,555 million as of December 31, 2025 (2024: $4,549 million).

------

**Banco Latinoamericano de Comercio Exterior, S. A. and Subsidiaries**

Notes to the unaudited interim condensed consolidated financial statements

*(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated)*

**23. Applicable laws and regulations (continued)**

*Specific provisions*

SBP Rule No. 4-2013, modified by Rule No. 8-2014, states that the specific credit provisions are originated from the objective and concrete evidence of impairment. These provisions must be established for credit facilities classified according to the risk categories denominated as: special mention, substandard, doubtful, or unrecoverable, both for individual credit facilities as for a group of such facilities. In the case of a group, it corresponds to circumstances that indicate the existence of deterioration in credit quality, although individual identification is still not possible.

Banks must calculate and maintain at all times the amount of the specific credit provisions determined by the methodology specified in this Rule, which takes into account the balance owed of each credit facility classified in any of the categories subject to provision, mentioned in the paragraph above; the present value of each guarantee available in order to mitigate risk, as established by type of collateral; and a weighting table that applies to the net exposure balance subject to loss of such credit facilities.

Article No. 34 of this Rule establishes that all credits must be classified in the following five (5) categories, according to their default risk and loan conditions, and establishes a minimum reserve for each classification: normal 0%, special mention 20%, substandard 50%, doubtful 80%, and unrecoverable 100%.

If there is an excess in the specific credit provision, calculated in accordance with this Rule, compared to the provision calculated in accordance with IFRS, this excess will be accounted for as a regulatory credit reserve in equity and will increase or decrease with appropriations from/to retained earnings. The balance of the regulatory credit reserve will not be considered as capital funds for calculating certain ratios or prudential indicators mentioned in the Rule.

Based on the classification of risks, collateral and in compliance with SBP Rule No. 4-2013, the Bank classified the loan portfolio as follows:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| | **Normal** | **Special mention** | **Substandard** | **Doubtful** | **Unrecoverable** | **Total** |
| **Loans at amortized cost** | | | | | | |
| Corporations | 6195013 | 101333 |  | 26933 | 11775 | 6335054 |
| Financial institutions: |  |  |  |  |  |  |
| Private | 2401466 |  |  |  |  | 2401466 |
| State-owned | 250036 |  |  |  |  | 250036 |
|  | 2651502 |  |  |  |  | 2651502 |
| Sovereign | 118169 |  |  |  |  | 118169 |
| **Total** | **8964684** | **101333** | **—** | **26933** | **11775** | **9104725** |
| **Loans at FVOCI** |  |  |  |  |  |  |
| Corporations | 52261 |  |  |  |  | 52261 |
| Financial institutions: |  |  |  |  |  |  |
| Private | 19363 |  |  |  |  | 19363 |
| State-owned | 4952 |  |  |  |  | 4952 |
| **Total** | **76576** | **—** | **—** | **—** | **—** | **76576** |
| **Total loans** | **9041260** | **101333** | **—** | **26933** | **11775** | **9181301** |
| Specific Provision | **—** | **20267** | **—** | **21546** | **7220** | **49033** |
| Allowance for loan |  |  |  |  |  |  |
| losses under IFRS (\*): | **34406** | **30891** | **—** | **20126** | **8853** | **94276** |

---

------

**Banco Latinoamericano de Comercio Exterior, S. A. and Subsidiaries**

Notes to the unaudited interim condensed consolidated financial statements

*(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated)*

**23. Applicable laws and regulations (continued)**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| | **Normal** | **Special mention** | **Substandard** | **Doubtful** | **Unrecoverable** | **Total** |
| **Loans at amortized cost** | | | | | | |
| Corporations | 5294002 | 46959 |  | 6933 | 10107 | 5358001 |
| Financial Institutions: |  |  |  |  |  |  |
| Private | 2521065 |  |  |  |  | 2521065 |
| State-owned | 413775 |  |  |  |  | 413775 |
|  | 2934840 |  |  |  |  | 2934840 |
| Sovereign | 82331 |  |  |  |  | 82331 |
| **Total loans** | **8311173** | **46959** | **—** | **6933** | **10107** | **8375172** |
| Specific Provision | **—** | **9392** | **—** | **5546** | **5558** | **20496** |
| Allowance for loan |  |  |  |  |  |  |
| losses IFRS (\*): | **51427** | **14248** | **—** | **5441** | **7042** | **78158** |

---

As of December 31, 2025 the restructured loans are $51.2 millions, (2024: the restructured loans are for $67.5 million).

Rule No.4-2013 defines as Past Due any credit facility for which payment of contractually agreed amounts present more than thirty (30) days in arrears, up to ninety (90) days; and as Delinquent, any credit facility for which payment of contractually agreed amounts present more than ninety (90) days in arrears, except for single-payment transactions and overdrafts, which will be considered Delinquent when payment exceeds thirty (30) days in arrears from the contractual payment date.

Below is the classification of the loan portfolio by maturity profile based on Rule No. 4-2013 and modified by Rule No. 8-2014:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| | **Current** | **Past due** | **Delinquent** | **Total** |
| **Loans at amortized cost** | | | | |
| Corporations | 6298014 | 20000 | 17040 | 6335054 |
| Financial institutions: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Private | 2401466 |  |  | 2401466 |
| &nbsp;&nbsp;&nbsp;State-owned | 250036 |  |  | 250036 |
|  | 2651502 |  |  | 2651502 |
| Sovereign | 118169 |  |  | 118169 |
| **Total** | **9067685** | **20000** | **17040** | **9104725** |
| **Loans at FVOCI** |  |  |  |  |
| Corporations | 52261 |  |  | 52261 |
| Financial institutions: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Private | 19363 |  |  | 19363 |
| &nbsp;&nbsp;&nbsp;State-owned | 4952 |  |  | 4952 |
| **Total** | **76576** |  |  | **76576** |
| **Total loans** | **9144261** | **—** | **17040** | **9181301** |

---

------

**Banco Latinoamericano de Comercio Exterior, S. A. and Subsidiaries**

Notes to the unaudited interim condensed consolidated financial statements

*(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated)*

**23. Applicable laws and regulations (continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| | **Current** | **Past due** | **Delinquent** | **Total** |
| **Loans at amortized cost** | | | | |
| Corporations | 5347894 |  | 10107 | 5358001 |
| Financial institutions: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Private | 2521065 |  |  | 2521065 |
| &nbsp;&nbsp;&nbsp;State-owned | 413775 |  |  | 413775 |
|  | 2934840 |  |  | 2934840 |
| Sovereign | 82331 |  |  | 82331 |
| **Total** | **8365065** | **—** | **10107** | **8375172** |

---

In accordance with Rule No. 4-2013, as amended by Rule No. 8-2014, non-accruing loans are presented by category as follows:&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| | **Normal** | **Special mention** | **Substandard** | **Doubtful** | **Unrecoverable** | **Total** |
| **Loans at amortized cost** | | | | | | |
| Impaired loans |  |  |  | 26933 | 11775 | 38708 |
| **Total** | **—** | **—** | **—** | **26933** | **11775** | **38708** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| | **Normal** | **Special mention** | **Substandard** | **Doubtful** | **Unrecoverable** | **Total** |
| **Loans at amortized cost** | | | | | | |
| Impaired loans |  |  |  | 6933 | 10107 | 17040 |
| **Total** | **—** | **—** | **—** | **6933** | **10107** | **17040** |

---

---

| | | |
|:---|:---|:---|
| | **December 31,** | **December 31,** |
| | **2025** | **2024** |
| Non-accruing loans: | | |
| Private corporations | 38,708 | 17,040 |
| Unrecognized interest on non-accrual loans | 1,302 | 474 |

---

As of December 31, 2025, and 2024, there was no interest income collected on loans in non-accrual status.

**24. Subsequent events**

*Dividends declared*

At a meeting of the Board of Directors held on February 10, 2026, the Board approved the declaration of a quarterly cash dividend of US$0.6875 per common share, relating to the fourth quarter of 2025. The dividend will be paid on March 12, 2026 to holders of the Bank's common shares of record as of February 25, 2026. At the same meeting, the Board of Directors also approved the payment of the first coupon on the Bank's Additional Tier 1 (AT1) capital instruments, which will be paid on March 18, 2026.

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