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3Q25EarningsResultsOCTOBER2025
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Q3 Highlights: Balance Sheet Strengthening and Solid Profitability 2 Steady Earnings and RoE Record Commercial Portfolio and Record Total Deposits Robust Margins and Asset Quality Strong Non-Interest Income and Efficiency Commercial Book$10.9 Bn0% QoQ | ↑ 12% YoY Deposits$6.8 Bn↑ 6% QoQ | ↑ 21% YoY NIM2.32%↓ 4 Bps QoQ | ↓ 23 Bps YoYNPLs0.15%0 Bps QoQ | ↓ 1 Bps YoY Non-Interest Income$15.4 M↓ 31% QoQ | ↑ 40% YoYEfficiency Ratio25.8%↑ 262 Bps QoQ | ↓ 136 Bps YoY Net Income$55.0 M↓ 14% QoQ | ↑ 4% YoY Adjusted ROE15.1%↓ 339 Bps QoQ | ↓ 129 Bps YoY Additional Capital to support Future Growth Capital Adequacy Ratio15.8%↑ 185 Bps QoQ | ↑ 208 Bps YoY Tier 1 Basel III Capital Ratio18.1%↑ 311 Bps QoQ | ↑ 214 Bps YoY
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Robust Capitaliza>on Supports Business & Balance Sheet Expansion 31 As defined by the SBP, in which risk-weighted assets are calculated under the Basel Standardized Approach for Credit Risk. The required minimum for the regulatory Capital Adequacy Ratio plus conservation buffer is 9.25% of total risk-weighted assets. 2 Tier 1 Capital ratio is calculated according to Basel III capital adequacy guidelines, and as a percentage of risk-weighted assets. Risk-weighted assets are estimated based on Basel III capital adequacy guidelines, utilizing internal-ratings based approach or “IRB” for credit risk and standardized approach for operational risk.USD millions, except for % Capital 1.5% 12.2% 3Q24 1.4% 12.5% 2Q25 1.3%2.0% 12.5% 3Q25 13.7%13.9%15.8% Other regulatory adjustmentsAdditional Tier I CapitalOrdinary Common Tier 1 Capital Ratio 9.25% Regulatory Minimum plus conservation buffer 16.0%15.0% 15.9% 2.2% 3Q242Q253Q25 18.1% Aditional Tier I Basel IIITier 1 Capital Raio Basel III Capital adequacy ratio1 (Panama regulatory)Tier I ratio2 (Basel III) 8.50% AT1 Per petualNon-Call 7Subordinated Notes Issue RatingsBa2 / BB / BB US$200mm7. 500% 3.3x Oversubscription Tier I Capital ratio (Basel III)
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Con>nued profitability expansion 4 Net Income & ROE 11.137.051.351.723.0 37.150.164.2 26.9 45.8 53.055.0 9M 20229M 20239M 20249M 2025 61.0 119.8 154.4170.9ROE 3Q2514.9%Adj. ROE*3Q2515.1% USD millions, except for % 3Q2Q1Q 9M 2025 ROA 9M0.9%1.7%1.9%1.9%ROE 9M8.0%14.4%16.4%16.2%Adj. ROE 9M8.0%14.4%16.4%16.3% (*) net profit - AT1 distribution / average stockholders' equity excluding other equity instruments
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Well diversified Commercial PorEolio 51 Other NIG Costa Rica, Argentina, Honduras, Paraguay, Suriname, El Salvador and other Latam 1%. 8,07074% 1,60315% 1,20211% 3Q24 2,124(17%) 1,41412% 3Q25 8,748(71%) 2Q25 1,36311% 2,22218% 8,59771% 10,87512,18212,28613% Credit Portfolio(Commercial Por-olio + Investments)Commercial Portfolio By Country USD millions, except for % 12% 9% 8% 7%5%5%5%4%2%2% 15% 3Q25 Guatemala 5% Mexico Dominican RepublicNon LatamColombiaEcuadorChilePanamaPeruUruguay 12% T. & Tobago 14% Other NIG1 11% 9% 7% 9%5% 5%7%1% Brazil 2% 13% 2Q25 13% 10,81910,872 13% 27% 15% 11% 10% 9% 8% 8% 8%4%3Q25 32% Oil&Gas Other Commodities Other Industries Electric Power Manufacturing Industries Food and beverageWholesalers & RetailersOther Services & Sovereign 14% 10% 8% 9% 9% 8% 7%3%2Q25 10,81910,872 Financial Institutions LoansContingenciesInvestment Portfolio By Industry(Loans + Con6ngencies)
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Diversified Investment Portfolio mainly in Ex-Latam countries and strong liquidity buffers 61 Others Non-Latam: Japan, UK, Saudi Arabia, Canada, Germany and others. 2 1 Liquid assets refer to total cash and cash equivalents, consisting of cash and due from banks and interest-bearing deposits in banks, excluding pledged deposits and margin calls; as well as corporate debt securities rated ‘A‘ or above. PanamaColombiaChilePeruBrazilCosta Rica 5%4%2%1%1%1% United StatesOther Non-Latam1Multilaterals53%28%5% Ex-Latam CountriesLatam Countries 86%$1,226MM USD 14%$188MM USD Investment PortfolioEOP Balances (in USD millions)1,414Avg. Term to Maturity2.0 y 1,4143Q25 USD millions, except for % Total LiquidAssets2 1,7081,9181,8521,9591,93415.0% 3Q24 16.2% 4Q24 14.9% 1Q25 15.5% 2Q25 15.5% 3Q25 Liquid AssetsLiquid Assets / Total Assets FRBNYMultilateralsUSA excluding FRBNY95%3%2% Liquid Assets Placements by Credit Risk 1,934 Investment Grade88%
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Asset Quality, Credit Risk and Reserve Coverage 7 USD millions, except for % 97.2% Stage 1$11,948M 2.6%Stage 2$320M0.2%Stage 3$19M $12.3B Exposure by Stages 17.018.718.7 0.16% 3Q24 0.15% 2Q25 0.15% 3Q25 Impaired CreditsImpaired Credits to Total Credit Portfolio 80.895.1101.5474% 3Q24 506% 2Q25 540% 3Q25 Total Allowances for Credit Losses% of impaired credit Coverage RatioImpaired credits
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Consistent Deposit Growth and Diversified Deposit Base 8 5,639(59%) 3464%776(8%) 2,795(29%) 3Q24 6,44662% 1972%1,240(12%) 2,540(24%) 2Q25 6,836(66%) 1391%1,060(10%) 2,337(23%) 3Q25 9,55610,42310,372 DepositsSecurities sold under repurchase agreementShort-term Borrowings and Debt, netLong-term Borrowings and Debt, net FundingSources DepositsComposition USD millions, except for % 2,36037% 1,62425% 1,36921% 77912%3145%2Q25 2,18232% 2,04830% 1,65225% 6499%3054%3Q25 Central Banks or designeesClass A shareholders Corporations Financial Institutions BrokersMultilateral 6,4466,8366%
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MarginsStabilizeat Target Levels 9 66.667 .767 .4 2.55% 3Q24 2.36% 2Q25 2.32% 3Q25 7. 4 9 % 5.71% 3Q24 6.69% 4.99% 2Q25 6.57% 4.94% 3Q25 Rate of Interest Earning AssetsRate of Interest Bearing Liabilities Net InterestSpread NIS NIS1.64% Net InterestMarginNIMNet Interest Margin ("NIM")Net Interest Income USD millions, except for % NIS1.70%NIS1.78% 10,37911,50511,531Average Interest-Earning Assets
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Non-Interest Income 10 USD millions, except for %1 Credit Commitments and Other Commissions, net include fees from credit commitments, other fees and commissions income and fees and commission expense 1.9 2.1 3.31.5 10.0 1.9 7.1 7.8 8.9 3Q242Q253Q25 10.5 19.9 14.1 34% Total Fees Letters of credit and guaranteesStructuring ServicesCredit Commitments and Other commissions, net1 2.2 0.90.10.33Q240.22Q250.43Q25 11.0 22.3 15.4 10.595.8% 19.989.3% 14.191.5% 40% Other income, netGain on financial instrumentsFees and commission1 Non InterestIncome
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Opera>onal Efficiency Aligned with Annual Guidance 11 Opex& EfficiencyRatio 21.020.821.3 27 .1% 3Q24 23.1% 2Q25 25.8% 3Q25 Efficiency RatioTotal Operating Expenses USD millions, except for %
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ClosingRemarksOCTOBER2025 12
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Progress towards scalability and Non-Interest Income genera>on 13 •First phase completed on time. Stabilization period to finalize by 4Q 2025•Higher transaction volumes and faster cycle times, including shorter processing times for letters of credit•Enhance client experience and improve our operating leverage Trade PlatformTreasury & Capital Markets platform•State-of-the-art platform that supports client hedging in FX and rates, broadens local-currency and structured funding•The platform automates core workflows, enhancing speed, controls, and risk management•The implementation will be undertaken progressively, through successive stages, with the first phase to be completed during the second half of 2026.
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Full YearGuidance 14 CET1 Commercial Portfolio GrowthAverage Deposit GrowthNIMEfficiency RatioROE 10% 12%Guidance 2025 15% 17%2.30%27%15% 16%15% 16%
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3Q25EarningsResultsOCTOBER2025
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16 ContactIR@bladex.comwww.bladex.com/en/investors Carlos RaadChief Investor Relations Officercraad@bladex.com Panama Diego CanoVP Investor Relationsdcano@bladex.comPanama