A Summary Presentation & Update

1. A Summary Presentation & Update September, 2005

2. Index • The Company ......................... 3 • Business Strategy ................. 12 • Financial Results ................... 23 • Capital Management ............... 32 • Investment Considerations .... 38 Page I II III IV V

3. This presentation contains forward-looking statements of expected future developments. The Bank wishes to ensure that such statements are accompanied by meaningful cautionary statements pursuant to the safe harbor established by the Private Securities Litigation Reform Act of 1995. The forward-looking statements in this presentation refer to the growth of the trade portfolio, the increase in the number of the Bank’s clients, the increase in activities engaged in by the Bank that are derived from the Bank’s trade finance client base, anticipated operating income in future periods, the improvement in the financial strength of the Bank and the progress the Bank is making. These forward-looking statements reflect the expectations of the Bank’s management and are based on currently available data; however, actual experience with respect to these factors is subject to future events and uncertainties, which could materially impact the Bank’s expectations. Among the factors that can cause actual performance and results to differ materially are as follows: the possibility that the Bank will need to renegotiate, restructure or write-off certain of its Argentine loans; the possibility of pre-payments; the anticipated growth of the Bank’s trade finance portfolio; the continuation of the Bank’s preferred creditor status; the effects of increased interest rates on the Bank’s financial condition; the implementation of the Bank’s strategies and initiatives, including its revenue diversification strategy; the pending applications in the United States to open a representative office in Miami, Florida; the adequacy of the Bank’s allowance for credit losses to address the likely impact of the Argentine crisis and other credit risks on the Bank’s loan portfolio; the necessity of making additional provisions for credit losses; the Bank’s ability to achieve future growth, to reduce its liquidity levels and increase its leverage; the Bank’s ability to maintain its investment-grade credit ratings; the availability and mix of future sources of funding for the Bank’s lending operations; and the adequacy of the Bank’s sources of liquidity to cover large deposit withdrawals.

4. Index • The Company • Business Strategy • Financial Results • Capital Management • Investment Considerations I II III IV V

5. The CompanyBackground • Bladex is a supranational bank established in 1975 by Central Banks in Latin America and the Caribbean, to finance and promote trade in the Region • Incorporated and headquartered in Panama, it started operations in 1979 • Shareholders include Central Banks and state entities in 23 countries in the Region, as well as local, regional, and international banks, along with private investors

6. The CompanyCompany Highlights • First Latin American bank listed in NYSE (1992) • First Latin American bank rated “Investment Grade” • Current credit ratings:

7. The CompanyOwnership and Board Composition Board of Directors Composition: Class “A” – Central Banks or designees (16.4%) Class “B” – Commercial Banks (8.5%) Class “E” – Investors “NYSE” (75.1%) Eight Directors are independent; one is part of Management

8. The CompanyBladex: A Unique Company By definition and vocation Focus on, and commitment to, Latin America Knowledge of the Region More than 25 years of operation in 23 countries Client franchise Strong customer loyalty, sterling client list State and private interests combined in a seamless fashion Shareholder mix A small team (159 people), with a wide reach and influence Efficient operations

9. The CompanyBladex: A Unique Company Recognized as key institution by the international financial community World Bank, IDB, FMO, DEG, etc. have supported the company Preferred creditor status Among the very few Latin American brands recognized internationally An investment-gate into the Region Among the most international of Latin American companies World class Corporate Governance standards

10. Joined BLX The CompanyManagement Team Title Experience Name Jaime Rivera CEO 24 years in Bank of America in various capacities throughout the Region and in the U.S. Mar’02: COO Jan’04: CEO Rubens Amaral CCO General Manager of Banco do Brasil, New York Branch and Managing Director for North America since 2000 Mar’04 Ernesto Bruggia COO General Manager of Banco de la Provincia de Buenos Aires since 1999 General Manager of Grupo BAPRO (holding company of BPBA), since November 1998 Jul’04 Gregory Testerman SVP Treasury 17 years in Banco Santander Central Hispano in various capacities. Worked in Europe, Japan and U.S. Jan’05 Miguel A. Kerbes SVP Risk Mgmt. Assistant Credit Director for the Southern Cone Area of Banco Santander-Chile (1995-2000) Head of Credit Division at Banco Boston-Chile (1992-1995) 2000: VP Jul’02: SVP

11. Joined BLX The CompanyManagement Team (cont.) Title Experience Name Carlos Yap SVP Finance 1980 1993: VP Jul’02: SVP 25 years working at Bladex in various capacities Miguel Moreno Partner and IT Consulting Manager for PwC, Bogotá, Colombia (1988-2001) VP of IT & Operations for Banco de Credito, Bogotá, Colombia (1987-1988) Sep’01 SVP Controller (Reports to the Audit Committee of the Board) Ana María de Arias VP of HHRR of Banco General, one of the most important banks in Panama (2000-2004) and as VPA (1999-2000) Panama Canal Commission in various capacities (1990-1999) SVP - HHRR & Corp. Oper. Jun’04 Joaquín Uribe SVP Processes Eng. & IT Citibank Colombia in various capacities (1997- 2001) Information Services Manager for System Integration and Project Quality Office at UNISYS Corporation, Colombia(1987- 1997) Sep’01: VP Jul’02: SVP

12. The CompanyCorporate Governance Highlights • Internal controls designed and tested to be SOX 404 compliant • In March 2005, the SEC extended for one year the deadline for foreign private issuers • Directors’ independence definition, as well as Board Committee structure and composition, meet NYSE standards • Disclosure Committee operating at Bank level • Ethics Committee and Code of Ethics in place • “Whistleblower” program in place • No AML or other regulatory issues outstanding • Transparency: Regulatory reporting Conference calls Prompt news releases Analyst reports Road shows Rating agencies reports Website

13. Index • The Company • Business Strategy • Financial Results • Capital Management • Investment Considerations I II III IV V

14. Business Strategy Business Focus: Trade Finance Services • Trade is the engine of economic growth in the Region – 20% plus p.a. • Historically attractive risk/reward relationship for Bladex • Four key success factors: Low financial & operting cost High Volume Pristine credit quality Right capital structure

15. Business StrategyA Growing Market Trade Flows - Latin America Source: '1990 to 2003 data: CEPAL (Comisión Económica para América Latina y el Caribe) '2004 to 2005 trade growth projections: based on data from UBS Publication (Latin American Economic Perspectives, 20-August-2004).

16. Business StrategyA Growing Market Bladex’s Special Competitive Advantage Source: '1990 to 2002 data: CEPAL (Comisión Económica para América Latina y el Caribe) ‘2003 data: World Trade Organization

17. Business Strategy Strategic Approach • Client Focus • Bladex is the Bank of banks in the Region • In addition, Bladex provides trade services to corporations through co-financing, syndicated transactions, and bilateral relationships

18. Business Strategy Earnings Model – Strategic View Related Services Other P/B Core Business Financial Intermediation Relatively low Relatively high

19. Digital Identity Investment Portfolio LAECA E-learning Others Payments New Products and Initiatives Client Franchise Brand Knowledge of the Region Govt. Shareholders C L I E N T S Trade Finance - Corporate Trade Finance - Banks U.S. Origination Working Capital Distribution Others Core- Financial Intermediation Human Resources Processes & Technology Capital Business Strategy Earnings Model – Strategic View

20. Business Strategy Earnings Model – Capital View 15% - 20% p.a. growth Core Financial Intermediation Margins stable at relatively thin levels Capital Intensive 10% ROE Eximbank structures Other Country Risk Guarantees Revenue L/C’s 15% ROE Guarantees U.S. Origination / Distribution Non Capital Intensive Payments Digital Identity E-learning

21. Business Strategy Financial Intermediation • Our intermediation business has strengthened: • The trade portfolio grew 58% in the last two years (as of June 30, 2005). Growth with banks in the trade portfolio alone in last year was 20% • 19 new clients during the first six months of 2005 (out of a base of 161). • Our liability borrowings margin decreased by 4b.p.(18%) in the last year, allowing us to be more competitive in more markets

22. Business Strategy New Initiatives • Digital Identity / Certification: • Digital certification that will guarantee the security and trust in the electronic transactions performed between clients and their trading partners, assuring the identity of the transaction originator. • Payments: • Bladex entered into a strategic alliance with Bank of America, to provide our regional customers with world class electronic payments processing. • Focus is primarily on the processing of commercial and treasury payments in US dollars. • U.S. Origination / Vendor Financing: • Strategic product for high volume exporters that mitigates foreign exposure and increase trade flows with buyers overseas. • Investment Portfolio /Trading Desk: • Investment, distribution and trading. • E-learning: • Educational on-line products with topics oriented to the banking industry.

23. Business Strategy Competition • Competition – Financial Intermediation • New entrants are a reality. Impact primarily on pricing, not volume yet • Major competitors in traditional trade finance: • Wachovia, Bank of New York, American Express, Bank of America (partner) • HSBC, RBS, Standard Chartered, a few German banks • Major competitors in structured trade finance: • Hypo V., Calyon,Standard Bank, Santander (partner) • Bladex competes successfully based on its unique features: client loyalty, commitment to the Region, preferred creditor status, market knowledge, and privileged access • Competition – New Initiatives • In areas where it exists (payments), we work with very strong partners (i.e. Bank of America) • In other areas: no significant competition (by design)

24. Index • The Company • Business Strategy • Financial Results • Capital Management • Investment Considerations I II III IV V

25. Financial ResultsTrack Record

26. Financial ResultsBalance Sheet

27. Financial ResultsProfit & Loss Statement

28. Financial ResultsStrong Trade Portfolio Growth Strong trade portfolio growth In our opinion, faster growth rates would not be prudent under current risk environment

29. Financial ResultsLoan Growth Perspectives • Loan growth focused on: • Country exposure allocation criteria: GDP Business opportunities Risk Levels Economic and political analysis Portfolio management approach Brazil Peru Panama Costa Rica Mexico Colombia Chile El Salvador Growth Segment 1 Growth Segment 2

30. Financial ResultsPortfolio Concentration

31. Financial ResultsExposure in Brazil • Our largest exposure activity reflects the relative size of th economy, growth and client franchise • Target exposure is 40% - 50% of total portfolio. • Accruing Brazilian credit portfolio: • Average tenor of the loan portfolio: 413days as of June 30, 2005 • Two non-accrual loans, one of which is current. Total $36 million

32. Financial ResultsArgentine Credit Portfolio

33. Index • The Company • Business Strategy • Financial Results • Capital Management • Investment Considerations I II III IV V

34. Capital ManagementEquity Levels Drivers Basel II Rating agencies & creditors perception Economic capital (internal model) Capital Future growth requirements Regulatory Capital Requirements

35. Capital ManagementCapital Management Guidelines • Bladex seeks to balance risk and return considerations in order to: • Withstand market volatility • Maintain stable access to funding sources • Provide a solid base to finance growth • Promote share ownership by long-term investors • Generate competitive returns on Shareholders’ Equity • Capital management decisions follow from continued appraisal of above considerations • October 7, 2004 and April 11, 2005 payments of extraordinary dividends of US$1.00 per common share and US$2.00 per common share, respectively, and a US$50 million stock repurchase program, reflect above approach. Since January 2004, have returned capital for a total of US$163 million

36. Weaker balance sheet Higher cost of funds Smaller growth ……. Smaller profit Even higher cost of funds Capital ManagementApril through December, 2005 • Much of the Argentine recoveries originally scheduled for 2005 and 2006 have been realized in advance • With the collection of the high-margin loans involved, core profitability will come under pressure while the new portfolio and fee income initiatives are built • Critical success factor: inexpensive funding – for which a very strong balance sheet will be required until profit & loss strengthens • Number one priority: growth and improved profitability. Capital Management actions will follow • Doing the reverse could put the company in a difficult cycle

37. Capital ManagementHistorical Tier 1 – Basel I & II

38. Capital ManagementHistorical ROE Our business model has historically yielded ROE between 12% to 17%, even in times of high competition.

39. Index • The Company • Business Strategy • Financial Results • Capital Management • Investment Considerations I II III IV V

40. Investment ConsiderationsWhy Bladex? • Trade is the primary engine of growth in Latin America • Preferred creditor status • Transparency, world-class Corporate Governance standards • Explicit support from multilateral agencies and shareholder governments • Solid financials, investment grade • US GAAP reporting • Multiple regulators: SEC, Fed, NYSBC, Panamanian banking authorities • Expanded research coverage • Increasing market liquidity (47% increase in average daily volume in last year to 156 thousand shares/day) • Regional play • Defensive play

41. Thank you!!