FOREIGN TRADE BANK OF LATIN AMERICA Business Summary

Foreign Trade Bank of Latin America, Inc. (Bladex) operates as a specialized multinational bank dedicated to promoting foreign trade and economic integration across Latin America and the Caribbean. The company generates revenue through two primary segments: Commercial and Treasury. The Commercial segment drives the majority of income via net interest from short- and medium-term bilateral loans, structured and syndicated credits, and fee-based services such as letters of credit and financial guarantees. As of 2026, Bladex is aggressively scaling its technology-enabled transactional trade platform to capture a larger share of the region's $3 trillion trade flow through digital fee-based products. In the competitive landscape, Bladex occupies a specialized niche as a regional bridge, competing directly with major financial institutions like Itaú Unibanco, Banco do Brasil, and global trade finance leaders such as HSBC and Citigroup, while maintaining a unique status due to its institutional ties to regional central banks. Bladex was established in 1979 by the central banks of 23 Latin American and Caribbean countries, a founding structure that remains central to its governance and capital base today. The current leadership team is headed by CEO Jorge L. Salas Taurel, who joined in 2020 after serving as CEO of Banesco USA and holding senior roles at Corpbanca. In April 2025, Annette van Hoorde de Solís, a 19-year veteran of the bank, was promoted to Executive Vice President and CFO, succeeding Ana Graciela de Méndez. Other key executives include Samuel Canineu, EVP of Commercial Banking, who brings extensive pedigree from ING Group and Greensill. The Board of Directors is chaired by Miguel Heras, Managing Partner at MKH Capital Partners, and includes representatives from regional state-owned entities, reflecting a shareholder base that uniquely blends public-sector central banks with private institutional investors.