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 May, 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 x Form 40-F o

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: May 5, 2026			By:			/s/ Annette van Hoorde de Solís
			Name:			Annette van Hoorde de Solís
			Title:			Chief Financial Officer

1

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Banco Latinoamericano

de Comercio Exterior, S.A.

and Subsidiaries

Unaudited condensed consolidated interim financial statements as of March 31, 2026, and for the three months ended March 31, 2026

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Banco Latinoamericano de Comercio Exterior, S.A.

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 condensed consolidated interim financial statements (Unaudited)

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

Condensed consolidated statements of financial position

March 31, 2026 and December 31, 2025

(In thousands of US dollars)

									March 31, 2026						December 31, 2025
			Notes						(Unaudited)						(Audit)
Assets
Cash and due from banks			3,4,5						2,016,428						1,923,731
Investment securities			3,4,6						1,690,352						1,428,990
Loans			3,4,7						9,683,093						9,141,668
Customers' liabilities under acceptances			3,4						230,591						161,597
Trading derivative - assets			3,4,10						2,431						1,569
Hedging derivative financial instruments - assets			3,4,10						57,644						69,837
Equipment, right-of-use assets and leasehold improvements, net									20,462						19,673
Intangibles assets									10,596						10,744
Other assets			11						27,544						28,584
Total assets									13,739,141						12,786,393
Liabilities and Equity
Liabilities:
Customer deposits			3,4,12						7,347,763						6,640,290
Securities sold under repurchase agreements			3,4,13						245,880						130,509
Borrowings and debt			3,4,14						4,090,790						4,030,389
Lease liabilities			3,15						18,068						18,429
Acceptances outstanding			3,4						230,591						161,597
Trading derivative - liabilities			3,4,10						1,033						433
Hedging derivative financial instruments - liabilities			3,4,10						48,015						62,506
Provision for losses on loan commitments and financial guarantee contracts			3,4						12,836						12,130
Other liabilities			16						36,150						51,363
Total liabilities									12,031,126						11,107,646
Equity:
Common stock									279,980						279,980
Treasury stock									(92,016)						(97,597)
Other equity instruments									197,976						197,976
Additional paid-in capital in excess of value assigned to common stock									121,995						125,151
Capital reserves			23						95,210						95,210
Regulatory reserves			23						163,946						159,093
Retained earnings									934,624						916,429
Other comprehensive income									6,300						2,505
Total equity									1,708,015						1,678,747
Total liabilities and equity									13,739,141						12,786,393

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

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

Condensed consolidated statement of profit or loss

For the three months ended March 31, 2026 and 2025

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

																					(Unaudited)
			Notes																		2026						2025
Interest income:
Deposits																					13,192						16,848
Investment securities																					18,396						14,310
Loans																					154,360						158,262
Total interest income			20																		185,948						189,420
Interest expense:
Deposits																					(68,639)						(67,878)
Securities sold under repurchase agreements			13																		(1,640)						(2,401)
Borrowings and debt			14																		(45,291)						(53,703)
Lease liabilities			15																		(172)						(182)
Total interest expense			20																		(115,742)						(124,164)
Net interest income																					70,206						65,256
Other income (expense):
Fees and commissions, net			19																		13,130						10,583
(Loss) gain on financial instruments, net			9																		(330)						1,984
Other income, net																					94						126
Total other income, net			20																		12,894						12,693
Total revenues																					83,100						77,949
Impairment losses on financial instruments			3,20																		(4,734)						(5,216)
Operating expenses:
Salaries and other employee expenses																					(13,349)						(13,938)
Depreciation and amortization of equipment, right-of-use and leasehold improvements																					(900)						(693)
Amortization of intangible assets																					(701)						(326)
Other expenses																					(7,061)						(6,044)
Total operating expenses			20																		(22,011)						(21,001)
Profit for the period																					56,355						51,732
Per share data:
Basic earnings per share (in US dollars)			18																		1.31						1.40
Weighted average basic shares (in thousands of shares)			18																		37,387						36,941

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

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

Condensed consolidated statement of comprehensive income

For the three months ended March 31, 2026 and 2025

(In thousands of US dollars)

																					(Unaudited)
																					2026						2025
Profit for the period																					56,355						51,732
Other comprehensive income:
Items that are or may be reclassified subsequently to the condensed consolidated statement of profit or loss:
Change in fair value on financial instruments, net of hedging																					3,684						3,132
Reclassification of gains (losses) on financial instruments to the condensed consolidated statement of profit or loss																					111						(46)
Other comprehensive income																					3,795						3,086
Total comprehensive income for the period																					60,150						54,818

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

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

Condensed consolidated statement of changes in equity

For the three months ended March 31, 2026 and 2025

(In thousands of US dollars)

						(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, 2025						279,980						(105,601)												124,970						95,210						149,666						792,005						979						1,337,209
Profit for the period						—						—						—						—						—						—						51,732						—						51,732
Other comprehensive income						—						—						—						—						—						—						—						3,086						3,086
Issuance of restricted stock (RSA)						—						3,392						—						(3,392)						—						—						—						—						—
Compensation cost - stock units plans						—						—						—						1,866						—						—						—						—						1,866
Stock units vested (RSU)						—						3,231						—						(3,231)						—						—						—						—						—
Regulatory credit reserve						—						—						—						—						—						(27)						27						—						—
Dividends declared						—						—						—						—						—						—						(23,222)						—						(23,222)
Balances at March 31, 2025						279,980						(98,978)						—						120,213						95,210						149,639						820,542						4,065						1,370,671
Balances at January 1, 2026						279,980						(97,597)						197,976						125,151						95,210						159,093						916,429						2,505						1,678,747
Profit for the period						—						—						—						—						—						—						56,355						—						56,355
Other comprehensive income						—						—						—						—						—						—						—						3,795						3,795
Issuance of restricted stock (RSA)						—						2,774						—						(2,774)						—						—						—						—						—
Compensation cost - stock units plans						—						—						—						2,425						—						—						—						—						2,425
Stock units vested (RSU)						—						2,807						—						(2,807)						—						—						—						—						—
Regulatory credit reserve						—						—						—						—						—						(80)						80						—						—
Dynamic provision						—						—						—						—						—						4,933						(4,933)						—						—
Dividends and coupons declared			17			—						—						—						—						—						—						(33,307)						—						(33,307)
Balances at March 31, 2026						279,980						(92,016)						197,976						121,995						95,210						163,946						934,624						6,300						1,708,015

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

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

Condensed consolidated statement of cash flows

For the three months ended March 31, 2026 and 2025

(In thousands of US dollars)

						(Unaudited)
			Notes			2026						2025
Cash flows from operating activities
Profit for the period						56,355						51,732
Adjustments to reconcile profit for the period to net cash provided by operating activities:
Depreciation and amortization of equipment, right-of-use and leasehold improvements						900						693
Amortization of intangible assets						701						326
Impairment losses on financial instruments			3			4,734						5,216
Realized loss on financial instruments			9			—						365
Compensation cost - share-based payment						2,425						1,866
Net changes in hedging position and foreign currency						11,166						6,090
Loss on disposal of fixed assets and intangible assets						1						—
Interest income			20			(185,948)						(189,420)
Interest expense			20			115,742						124,164
Changes in operating assets and liabilities:
Restricted and pledged deposits						4,447						20,960
Loans						(524,218)						(319,050)
Other assets						(1,148)						(663)
Due to depositors						702,588						446,588
Other liabilities						(15,539)						(4,678)
Cash flows provided by operating activities						172,206						144,189
Interest received						159,669						180,596
Interest paid						(117,627)						(128,217)
Net cash provided by operating activities						214,248						196,568
Cash flows from investing activities:
Acquisition of fixed assets and intangible assets						(50)						(223)
Acquisition of intangible assets						—						(88)
Proceeds from the sale of securities						9,911						40,773
Proceeds from the redemption of securities						110,702						114,797
Purchases of securities						(378,355)						(226,696)
Net cash used in investing activities						(257,792)						(71,437)
Cash flows from financing activities:
Increase in securities sold under repurchase agreements						114,373						245,373
Net increase (decrease) in short-term borrowings and debt			14			132,499						(423,544)
Proceeds from long-term borrowings and debt			14			71,686						64,394
Payments of long-term borrowings and debt			14			(144,871)						(34,076)
Payments of lease liabilities			15			(357)						(244)
Dividends paid						(32,980)						(22,885)
Net cash provided by (used in) financing activities						140,350						(170,982)
Net increase (decrease) in cash and cash equivalents						96,806						(45,851)
Cash and cash equivalents at beginning of the period						1,842,209						1,819,931
Cash and cash equivalents at end of the period			5			1,939,015						1,774,080

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

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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:

-    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.

-    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.

-    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

2.1 Basis of preparation

These interim condensed consolidated financial statements for the nine-month period ended March 31, 2026 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 April 21, 2026.

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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)

2.2. Accounting Standards Issued but Not Yet in Effect

IFRS 18 – Presentation and Disclosure in Financial Statements will replace IAS 1: Presentation of Financial Statements and will be applicable for annual periods beginning on or after January 1, 2027. The Bank has not adopted this standard early in the preparation of these interim financial statements.

IFRS 18 introduces changes to the structure of the income statement, greater disaggregation of financial information, and new disclosures related to performance measures defined by management. The Bank is in the process of evaluating the impact of its adoption, which may vary as the implementation of changes to accounting processes, controls, and policies is finalized.

In general terms, the following impacts are expected:

•Structure of the income statement: Income and expenses will be classified into categories such as operating, investing, and financing activities, among others. Since the Bank qualifies as an entity whose primary activity is providing financing, interest income and expenses will be presented within the operating category, eliminating their current presentation as a separate subtotal. New defined subtotals will also be introduced, such as operating profit and profit before financing and taxes.

•Classification of income and expenses: Certain items, including exchange differences, hedging instruments, and other income, will be reclassified according to the nature of the items that generate them. Additionally, the share of the results of investments accounted for using the equity method will be presented within the investment category.

•Performance measures defined by management: The Bank is in the process of developing the framework for identifying and disclosing these measures, which will be based on public communications and aligned with the financial statement reporting period.

•Aggregation and disaggregation: Greater disaggregation of items in the financial statements and notes is expected, including a review of items currently presented as “other.”

•Cash flows: Operating profit will be used as the starting point for presenting operating cash flows under the indirect method. The classification of cash flows related to interest and dividends will also be adjusted in accordance with IFRS 18 requirements.

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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:

A.Credit risk

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.

Deposits

			March 31, 2026
			PD Ranges						Stage 1						Stage 2						Stage 3						Total
Grades 1 - 4			0.05-0.28						2,015,979						—						—						2,015,979
Grades 5 - 6			0.29-3.60						530						—						—						530
Grades 7 - 8			3.61-36.40						44						—						—						44
									2,016,553						—						—						2,016,553
Allowance for credit losses									(125)						—						—						(125)
Total									2,016,428						—						—						2,016,428

			December 31, 2025
			PD Ranges						Stage 1						Stage 2						Stage 3						Total
Grades 1 - 4			0.05 -0.38						1,923,151						—						—						1,923,151
Grades 5 - 6			0.39 - 3.81						660						—						—						660
Grades 7 - 8			3.82 - 34.52						75						—						—						75
									1,923,886						—						—						1,923,886
Allowance for credit losses									(155)						—						—						(155)
Total									1,923,731						—						—						1,923,731

Loans, at amortized cost (1)

			March 31, 2026
			PD Ranges						Stage 1						Stage 2						Stage 3						Total
Grades 1 - 4			0.05-0.28						5,561,291						—						—						5,561,291
Grades 5 - 6			0.29-3.60						3,649,887						121,303						—						3,771,190
Grades 7 - 8			3.61-36.40						32,664						142,131						—						174,795
Grades 9 - 10			36.41-100						—						—						40,186						40,186
									9,243,842						263,434						40,186						9,547,462
Allowance for credit losses									(24,544)						(43,405)						(29,175)						(97,124)
Total									9,219,298						220,029						11,011						9,450,338

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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)

A.Credit risk (continued)

			December 31, 2025
			PD Ranges						Stage 1						Stage 2						Stage 3						Total
Grades 1 - 4			0.05 - 0.38						5,399,585						—						—						5,399,585
Grades 5 - 6			0.39 - 3.81						3,412,140						78,892						—						3,491,032
Grades 7 - 8			3.82-34.52						125,507						102,127						—						227,634
Grades 9 - 10			34.53-100						—						—						39,985						39,985
									8,937,232						181,019						39,985						9,158,236
Allowance for credit losses									(31,660)						(33,169)						(28,979)						(93,808)
Total									8,905,572						147,850						11,006						9,064,428

Loans at FVOCI (1)

			March 31, 2026
			PD Ranges						Stage 1						Stage 2						Stage 3						Total
Grades 1 - 4			0.05-0.28						152,578						—						—						152,578
Grades 5 - 6			0.29-3.60						80,177						—						—						80,177
									232,755						—						—						232,755
Allowance for credit losses									(909)						—						—						(909)

			December 31, 2025
			PD Ranges						Stage 1						Stage 2						Stage 3						Total
Grades 1 - 4			0.05-0.38						15,627						—						—						15,627
Grades 5 - 6			0.39-3.81						61,613						—						—						61,613
									77,240						—						—						77,240
Allowance for credit losses									(468)						—						—						(468)

(1) Loans at amortized cost and FVOCI includes interest and commission receivable.

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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)

A.Credit risk (continued)

Loan commitments, financial guarantees issued and customers’ liabilities under acceptances

			March 31, 2026
			PD Ranges						Stage 1						Stage 2												Total
Commitments and contingencies
Grades 1 - 4			0.05-0.28						825,366						—												825,366
Grades 5 - 6			0.29-3.60						899,259						35												899,294
Grades 7 - 8			3.61-36.40						143,823						17,692												161,515
									1,868,448						17,727												1,886,175
Customers' liabilities under acceptances
Grades 1 - 4			0.05-028						61,555						—												61,555
Grades 5 - 6			0.29-3.60						168,965						—												168,965
Grades 7 - 8			3.61-36.40						71						—												71
									230,591						—												230,591
									2,099,039						17,727												2,116,766
Provision									(11,221)						(1,615)												(12,836)
Total									2,087,818						16,112												2,103,930

			December 31, 2025
			PD Ranges						Stage 1						Stage 2												Total
Commitments and contingencies
Grades 1 - 4			0.05-0.38						876,482						—												876,482
Grades 5 - 6			0.39-3.81						676,044						365												676,409
Grades 7 - 8			3.82-34.52						287,766						—												287,766
									1,840,292						365												1,840,657
Customers' liabilities under acceptances
Grades 1 - 4			0.05-0.38						64,761						—												64,761
Grades 5 - 6			0.39-3.81						31,284						—												31,284
Grades 7 - 8			3.82-34.52						65,552						—												65,552
									161,597						—												161,597
									2,001,889						365												2,002,254
Provision									(12,128)						(2)												(12,130)
Total									1,989,761						363												1,990,124

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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)

A.Credit risk (continued)

Securities at amortized cost(1)

			March 31, 2026
			PD Ranges						Stage 1						Stage 2												Total
Grades 1 - 4			0.05-0.28						1,393,633						—												1,393,633
Grades 5 - 6			0.29-3.60						—						10,781												10,781
									1,393,633						10,781												1,404,414
Allowance for credit losses									(460)						(52)												(512)
Total									1,393,173						10,729												1,403,902

			December 31, 2025
			PD Ranges						Stage 1						Stage 2												Total
Grades 1 - 4			0.05-0.38						1,294,293						—												1,294,293
Grades 5 - 6			0.39-3.81						55,550						10,654												66,204
									1,349,843						10,654												1,360,497
Allowance for credit losses									(918)						(65)												(983)
Total									1,348,925						10,589												1,359,514

Securities at FVOCI(1)

			March 31, 2026
			PD Ranges						Stage 1						Stage 2												Total
Grades 1 - 4			0.05-0.28						166,203						—												166,203
Grades 5 - 6			0.29-3.60						120,247						—												120,247
									286,450						—												286,450
Allowance for credit losses - FVOCI									(788)						—												(788)

			December 31, 2025
			PD Ranges						Stage 1						Stage 2												Total
Grades 1 - 4			0.05-0.38						69,476						—												69,476
Allowance for credit losses - FVOCI									(16)						—												(16)

(1) Securities at amortized cost includes interest receivable.

The allowance for credit losses 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 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:

						March 31, 2026						December 31, 2025
Current						9,740,031						9,195,491
Past due (1)						40,186						39,985
Total						9,780,217						9,235,476

(1) Past due loans are classified in Stage 3.

13

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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)

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.

			March 31, 2026
			Notional value USD						Derivative financial instruments - fair value asset						Derivative financial instruments - fair value liabilities
Interest rate swaps			4,236,342						16,864						(4,590)
Cross-currency swaps			1,384,991						43,160						(44,458)
Foreign exchange forwards			36,779						51						—
Total			5,658,112						60,075						(49,048)

			December 31, 2025
			Notional value USD						Derivative financial instruments - fair value asset						Derivative financial instruments - fair value liabilities
Interest rate swaps			1,754,481						27,644						(5,868)
Cross-currency swaps			1,317,295						43,762						(57,027)
Foreign exchange forwards			7,039						—						(44)
Total			3,078,815						71,406						(62,939)

ii.Allowance for credit losses

The following tables show reconciliations from the opening to the closing balance of the Allowance for credit losses by class of financial instrument.

Bank deposits

			Stage 1						Stage 2						Stage 3						Total
Allowance for expected credit losses as of December 31, 2025			155						—						—						155
Net effect of changes in allowance for expected credit losses			45						—						—						45
Financial instruments that have been derecognized during the period			(113)						—						—						(113)
New financial assets originated or purchased			38						—						—						38
Impairment losses on financial instruments			(30)						—						—						(30)
Allowance for expected credit losses as of March 31, 2026			125						—						—						125

14

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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)

A. Credit risk (continued)

			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

Loans at amortized cost

			Stage 1						Stage 2						Stage 3						Total
Allowance for expected credit losses as of December 31, 2025			31,660						33,169						28,979						93,808
Transfer to lifetime expected credit losses			(348)						348						—						—
Net effect of changes in allowance for expected credit losses			(7,161)						9,455						196						2,490
Financial instruments that have been derecognized during the period			(6,984)						(129)						—						(7,113)
New financial assets originated or purchased			7,377						562						—						7,939
Impairment losses on financial instruments			(7,116)						10,236						196						3,316
Allowance for expected credit losses as of March 31, 2026			24,544						43,405						29,175						97,124

			Stage 1						Stage 2						Stage 3						Total
Allowance for expected credit losses as of December 31, 2024			45,635						20,040						12,483						78,158
Transfer to lifetime expected credit losses			(176)						(10,151)						10,327						—
Net effect of changes in allowance for expected credit losses			(2,762)						14,536						5,548						17,322
Financial instruments that have been derecognized during the year			(35,330)						(6,640)						—						(41,970)
New financial assets originated or purchased			24,293						15,384						—						39,677
Impairment losses on financial instruments			(13,975)						13,129						15,875						15,029
Recoveries			—						—						621						621
Allowance for expected credit losses as of December 31, 2025			31,660						33,169						28,979						93,808

15

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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)

A. Credit risk (continued)

Loans at FVOCI

			Stage 1						Stage 2						Stage 3						Total
Allowance for expected credit losses as of December 31, 2025			468						—						—						468
Net effect of changes in allowance for expected credit losses			(80)						—						—						(80)
New financial assets originated or purchased			521						—						—						521
Impairment losses on financial instruments			441						—						—						441
Allowance for expected credit losses as of March 31, 2026			909						—						—						909

			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

Loan commitments, financial guarantee contracts and customers’ liabilities under acceptances

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, 2025			12,128						2						—						12,130
Transfer to lifetime expected credit losses			(16)						16						—						—
Net effect of changes in reserve for expected credit losses			(1,707)						521						—						(1,186)
Financial instruments that have been derecognized during the period			(1,486)						—						—						(1,486)
New instruments originated or purchased			2,302						1,076						—						3,378
Impairment losses on financial instruments			(907)						1,613						—						706
Allowance for expected credit losses as of March 31, 2026			11,221						1,615						—						12,836

16

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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)

A. Credit risk (continued)

			Stage 1						Stage 2						Stage 3						Total
Allowance for expected credit losses as of December 31, 2024			4,815						560						—						5,375
Net effect of changes in reserve for expected credit losses			(284)						(5)						—						(289)
Financial instruments that have been derecognized during the year			(3,369)						(553)						—						(3,922)
New instruments originated or purchased			10,966						—						—						10,966
Impairment losses on financial instruments			7,313						(558)						—						6,755
Allowance for expected credit losses as of December 31, 2025			12,128						2						—						12,130

Securities at amortized cost

			Stage 1						Stage 2						Stage 3						Total
Allowance for expected credit losses as of December 31, 2025			918						65						—						983
Net effect of changes in allowance for expected credit losses			(113)						(13)						—						(126)
Financial instruments that have been derecognized during the period			(405)						—						—						(405)
New financial assets originated or purchased			60						—						—						60
Impairment losses on financial instruments			(458)						(13)						—						(471)
Allowance for expected credit losses as of March 31, 2026			460						52						—						512

			Stage 1						Stage 2						Stage 3						Total
Allowance for expected credit losses as of December 31, 2024			1,133						178						—						1,311
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

17

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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)

A. Credit risk (continued)

Securities at FVOCI

			Stage 1						Stage 2						Stage 3						Total
Allowance for expected credit losses as of December 31, 2025			16						—						—						16
Financial instruments that have been derecognized during the year			(5)						—						—						(5)
New financial assets originated or purchased			777						—						—						777
Impairment losses on financial instruments			772						—						—						772
Allowance for expected credit losses as of March 31, 2026			788						—						—						788

			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

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

			March 31,
			2026						2025
Cash and due from banks			(30)						215
Loans at amortized cost			3,316						(884)
Loans at FVOCI			441						—
Loan commitments, financial guarantee contracts and    customers’ liabilities under acceptances			706						5,959
Securities at amortized cost			(471)						(160)
Securities at FVOCI			772						86
Total			4,734						5,216

18

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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)

A. Credit risk (continued)

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:

Loans at amortized cost:			March 31, 2026						December 31, 2025
Credit-impaired loans at beginning of period			28,979						12,483
Classified as credit-impaired during the period			—						10,327
Change in allowance for expected credit losses			—						4,720
Interest income			196						828
Recoveries			—						621
Credit-impaired loans at end of period			29,175						28,979

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.

Concentration by sector and industry

			Loans  at amortized cost												Loan commitments, financial guarantee contracts and acceptances outstanding												Securities  at amortized
			March 31, 2026						December 31, 2025						March 31, 2026						December 31, 2025						March 31, 2026						December 31, 2025
Gross amount			9,547,462						9,158,236						230,591						161,597						1,404,414						1,360,497
Amount committed/guaranteed			—						—						1,886,175						1,840,657						—						—
Concentration by sector
Corporations:
Private			5,664,075						5,158,895						1,342,705						1,357,884						806,119						723,976
State-owned			1,273,388						1,194,949						272,138						254,122						43,684						45,516
Financial institutions:
Private			2,333,289						2,427,179						127,560						126,824						342,833						335,039
State-owned			157,898						257,479						374,363						263,424						76,692						65,038
Sovereign			118,812						119,734						—						—						135,086						190,928
Total			9,547,462						9,158,236						2,116,766						2,002,254						1,404,414						1,360,497
Concentration by industry
Financial institutions			2,491,187						2,684,658						501,923						390,248						419,525						400,077
Manufacturing			3,080,117						2,864,918						412,111						418,860						453,432						403,603
Oil and petroleum derived products			1,349,829						1,264,187						755,567						737,990						103,395						98,876
Agricultural			469,590						330,621						27,868						28,950						—						—
Services			712,720						686,726						248,323						251,670						151,555						152,037
Mining			406,687						387,599						78,317						60,914						32,349						20,014
Sovereign			118,812						119,734						—						—						135,086						190,928
Other			918,520						819,793						92,657						113,622						109,072						94,962
Total			9,547,462						9,158,236						2,116,766						2,002,254						1,404,414						1,360,497

19

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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)

A. Credit risk (continued)

Concentration by sector and industry at FVOCI

			Loans at FVOCI															Securities FVOCI
			March 31, 2026						December 31, 2025									March 31, 2026						December 31, 2025
Gross amount			232,755						77,240									286,450						69,476
Concentration by sector
Corporations:
Private			70,937						52,691			33,339						33,339						—
State-owned			127,449						—									8,670						—
Financial institutions:
Private			29,150						19,424									2,048						—
State-owned			5,219						5,125									57,027						69,476
Sovereign			—						—									185,366						—
Total			232,755						77,240									286,450						69,476
Concentration by industry
Financial institutions			34,369						24,549									59,075						69,476
Manufacturing			102,602						—									42,009						—
Oil and petroleum derived products			44,776						—									—						—
Agricultural			15,283						15,627									—						—
Services			—						—									—						—
Mining			35,725						37,064									—						—
Sovereign			—						—									185,366						—
Total			232,755						77,240									286,450						69,476

20

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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)

A. Credit risk (continued)

Concentration by country risk financial instruments at amortized cost

			Loans  at amortized cost												Commitments, financial guarantee contracts and acceptances outstanding												Securities at amortized cost
			March 31, 2026						December 31, 2025						March 31, 2026						December 31, 2025						March 31, 2026						December 31, 2025
Gross amount			9,547,462						9,158,236						230,591						161,597						1,404,414						1,360,497
Amount committed/guaranteed			—						—						1,886,175						1,840,657						—						—
Concentration by country
Argentina			213,479						198,905						203,691						169,695						—						—
Australia			—						—						—						—						22,379						9,936
Belgium			—						—						—						—						15,408						15,696
Brazil			1,288,726						1,130,060						135,559						135,428						—						7,009
Canada			—						—						41,387						26,591						55,068						47,743
Chile			512,536						501,107						77,817						67,887						29,951						29,986
China			14,933						14,917						—						—						—						—
Colombia			1,152,622						1,080,071						84,837						84,837						—						14,898
Costa Rica			415,963						461,965						54,804						61,212						—						8,141
Dominican Republic			843,702						919,673						110,289						135,214						—						—
Ecuador			207,177						183,502						367,613						206,845						—						—
El Salvador			141,852						100,756						6,342						29,084						—						—
Finland			—						—						—						—						19,842						13,365
France			66,680						68,555						27,110						72,443						15,070						15,011
Germany			—						—						15,000						15,000						30,229						29,998
Guatemala			1,602,841						1,537,176						118,763						117,786						—						—
Honduras			126,490						108,137						22,855						22,862						—						—
Ireland			—						—						—						—						14,601						14,408
Italy			22,092						23,375						4,074						1,442						—						—
Jamaica			100,767						57,969						433						—						—						—
Japan			—						—						—						—						60,331						60,402
Korea			—						—						—						—						34,996						34,704
Kuwait			—						—						—						—						20,360						20,159
Mexico			1,115,711						1,116,825						233,278						205,726						—						1,269
Netherlands			—						—						3,100						4,500						10,030						9,933
Norway			—						—						—						—						24,045						24,577
Panama			586,910						571,207						36,653						35,989						35,312						75,494
Paraguay			168,667						210,047						250						250						—						—
Peru			220,373						173,441						191,407						212,219						2,229						9,971
Puerto Rico			4,089						6,632						15,000						15,000						—						—
Qatar			—						—						—						—						30,002						30,103
Arabia Saudi			—						—						—						—						49,080						49,919
Singapore			159,184						131,154						6,723						5,507						—						—
Trinidad and Tobago			154,174						171,001						40,500						43,000						—						—
Sweden			—						—						—						—						15,123						14,932
Suriname			6,265						3,627						143,823						146,401						—						—
United States of America			197,933						219,563						35,232						39,198						805,880						740,864
United Kingdom			89,931						103,665						135,746						141,696						50,085						50,315
United Arab Emirates			—						—						—						—						10,061						3,521
Uruguay			134,365						64,906						4,480						6,442						—						—
Multilateral			—						—						—						—						54,332						28,143
Total			9,547,462						9,158,236						2,116,766						2,002,254						1,404,414						1,360,497

21

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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)

A. Credit risk (continued)

Risk rating and concentration by country financial instruments at FVOCI

			Loans at FVOCI												Securities at FVOCI
			March 31, 2026						December 31, 2025						March 31, 2026						December 31, 2025
Gross amount			232,755						77,240						286,450						69,476
Concentration by country
Argentina			19,929						—						—						—
Brazil			—						—						6,941						—
Colombia			127,448						—						62,874						—
Costa Rica			—						—						8,670						—
El Salvador			24,522						24,549						—						—
Guatemala			25,131						15,627						2,048						—
Panama			—						—						45,625						—
Dominican Republic			35,725						37,064						59,011						—
Trinidad and Tobago			—						—						51,195						—
Multilateral			—						—						50,086						69,476
Total			232,755						77,240						286,450						69,476

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:

Derivative financial instruments – assets

			March 31, 2026
			Gross amounts of assets						Gross amounts offset in the consolidated statement of financial position						Net amount of assets presented in the consolidated statement of financial position						Gross amounts not offset in the consolidated statement of financial position												Net amount
																					Financial instruments						Cash collateral received
Derivative financial instruments used for hedging			57,644						—						57,644						—						(38,870)						18,774
Total			57,644						—						57,644						—						(38,870)						18,774

			December 31, 2025
			Gross amounts of assets						Gross amounts offset in the consolidated statement of financial position						Net amount of assets presented in the consolidated statement of financial position						Gross amounts not offset in the consolidated statement of financial position												Net amount
																					Financial instruments						Cash collateral received
Derivative financial instruments used for hedging			69,837						—						69,837						—						(49,266)						20,571
Total			69,837						—						69,837						—						(49,266)						20,571

22

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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)

A. Credit risk (continued)

Securities sold under repurchase agreements and derivative financial instruments – liabilities

						March 31, 2026
						Gross amounts of liabilities						Gross amounts offset in the consolidated statement of financial position						Net amount of liabilities presented in the consolidated statement of financial position						Gross amounts not offset in the consolidated statement of financial position												Net amount
																								Financial instruments						Cash collateral received
Securities sold under repurchase agreements at amortized cost						(245,880)						—						(245,880)						271,002						1,434						26,556
Derivative financial instruments used for hedging at FVTPL						(48,015)						—						(48,015)						—						46,907						(1,108)
Total						(293,895)						—						(293,895)						271,002						48,341						25,448

						December 31, 2025
						Gross amounts of liabilities						Gross amounts offset in the consolidated statement of financial position						Net amount of liabilities presented in the consolidated statement of financial position						Gross amounts not offset in the consolidated statement of financial position												Net amount
																								Financial instruments						Cash collateral received
Securities sold under repurchase agreements at amortized cost						(130,509)						—						(130,509)						147,480						—						16,971
Derivative financial instruments used for hedging at FVTPL						(62,506)						—						(62,506)						—						51,353						(11,153)
Total						(193,015)						—						(193,015)						147,480						51,353						5,818

23

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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)

    

B.Liquidity risk

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:

			March 31, 2026						December 31, 2025
At the end of the period			143.78		%				159.26		%
Period/year average			115.48		%				129.49		%
Maximum of the period			143.78		%				212.53		%
Minimun of the period			103.73		%				103.63		%

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

			March 31, 2026																		December 31, 2025
(in millions of USD dollars)			Cash and due from banks						Securities FVOCI						Total						Cash and due from banks						Securities FVOCI						Total
United State of America			1,654						—						1,654			—			1,784						—						1,784
Other O.E.C.D countries			228						—						228						3						—						3
Latin America			7						—						7						5						—						5
Multilateral			50						49						99						50						69						119
Total			1,939						49						1,988						1,842						69						1,911

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

			March 31, 2026						December 31, 2025
(in millions of USD dollars)
Demand and "overnight" deposits			1,691						879
Demand and "overnight" deposits to total deposits			23.14		%				13.31		%

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

			March 31, 2026						December 31, 2025
(in millions of USD dollars)
Total liquid assets			1,988						1,911
Total assets to total liabilities			27.21		%				28.94		%
Total liquid assets in the   Federal Reserve of the United States of America			80.35		%				90.74		%

24

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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)

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:

(in millions of USD dollars)			March 31, 2026						December 31, 2025
Loan portfolio at amortized cost and investment portfolio less than/equal to 1 year according to its original terms			5,464						5,247
Average term (days)			183						180

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:

(in millions of USD dollars)			March 31, 2026						December 31, 2025
Loan portfolio at amortized cost and investment portfolio greater than/equal to 1 year according to its original terms			5,906						5,349
Average term (days)			1,428						1,409

25

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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)

B.Liquidity risk (continued)

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:

						March 31, 2026
						Up to 3 months						3 to 6 months						6 months to 1 year						1 to 5 years						More than 5 years						Gross inflows (outflows)						Carrying amount
Assets
Cash and due from banks						2,011,917						5,104						—						—						—						2,017,021						2,016,428
Securities						166,575						69,070						317,373						1,262,088						34,738						1,849,844						1,690,352
Loans						3,143,045						1,784,973						1,557,077						3,810,532						408,037						10,703,664						9,683,093
Customers' liabilities under acceptances						193,023						35,911						1,657						—						—						230,591						230,591
Trading derivative financial instruments - assets						—						—						—						—						2,431						2,431						2,431
Hedging derivative financial instruments - assets						549						2,755						1,059						49,450						3,831						57,644						57,644
Total						5,515,109						1,897,813						1,877,166						5,122,070						449,037						14,861,195						13,680,539
Liabilities
Customer deposits						(5,905,682)						(621,884)						(770,688)						(66,523)						—						(7,364,777)						(7,347,763)
Securities sold under repurchase agreements						(195,484)						(35,932)						(17,061)						—						—						(248,477)						(245,880)
Borrowings and debt						(1,145,491)						(754,856)						(304,779)						(2,166,104)						(49,621)						(4,420,851)						(4,090,790)
Lease liabilities						(360)						(367)						(747)						(6,102)						(10,492)						(18,068)						(18,068)
Acceptances outstanding						(193,023)						(35,911)						(1,657)						—						—						(230,591)						(230,591)
Trading derivative financial instruments - liabilities						—						—						—						—						(1,033)						(1,033)						(1,033)
Hedging derivative financial instruments - liabilities						(2,508)						(12,955)						(8,676)						(23,834)						(42)						(48,015)						(48,015)
Total						(7,442,548)						(1,461,905)						(1,103,608)						(2,262,563)						(61,188)						(12,331,812)						(11,982,140)
Subtotal net position						(1,927,439)						435,908						773,558						2,859,507						387,849						2,529,383						1,698,399
Off-balance sheet contingencies
Confirmed letters of credit						96,421						161,095						20,896						—						—						278,412
Stand-by letters of credit and guarantees						215,543						213,837						276,340						111,735						—						817,455
Loans and letter of credit commitments						150,984						68,444						165,486						371,823						33,571						790,308
Total						462,948						443,376						462,722						483,558						33,571						1,886,175
Total net position						(2,390,387)						(7,468)						310,836						2,375,949						354,278						643,208

26

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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)

B.Liquidity risk (continued)            

						December 31, 2025
						Up to 3 months						3 to 6 months						6 months to 1 year						1 to 5 years						More than 5 years						Gross inflows (outflows)						Carrying amount
Assets
Cash and due from banks						1,906,085						18,379						—						—						—						1,924,464						1,923,731
Securities						103,225						134,775						203,340						1,079,046						31,792						1,552,178						1,428,990
Loans						2,711,751						1,651,349						2,003,457						3,417,682						331,015						10,115,254						9,141,668
Customers' liabilities under acceptances						102,576						36,206						22,815						—						—						161,597						161,597
Trading derivative financial instruments - assets						—						—						—						—						1,569						1,569						1,569
Hedging derivative financial instruments - assets						7,989						189						3,685						54,654						3,320						69,837						69,837
Total						4,831,626						1,840,898						2,233,297						4,551,382						367,696						13,824,899						12,727,392
Liabilities
Customer deposits						(5,153,930)						(745,511)						(503,687)						(263,845)						—						(6,666,973)						(6,640,290)
Securities sold under repurchase agreements						(7,800)						(68,015)						(58,631)						—						—						(134,446)						(130,509)
Borrowings and debt						(1,093,223)						(550,119)						(447,676)						(2,246,182)						(49,796)						(4,386,996)						(4,030,389)
Lease liabilities						(361)						(363)						(737)						(6,096)						(10,872)						(18,429)						(18,429)
Acceptances outstanding						(102,576)						(36,206)						(22,815)						—						—						(161,597)						(161,597)
Trading derivative financial instruments - liabilities						—						—						—						—						(433)						(433)						(433)
Hedging derivative financial instruments - liabilities						(7,888)						—						(16,755)						(37,459)						(404)						(62,506)						(62,506)
Total						(6,365,778)						(1,400,214)						(1,050,301)						(2,553,582)						(61,505)						(11,431,380)						(11,044,153)
Subtotal net position						(1,534,152)						440,684						1,182,996						1,997,800						306,191						2,393,519						1,683,239
Off-balance sheet contingencies
Confirmed letters of credit						141,926						74,009						24,185						—						—						240,120
Stand-by letters of credit and guarantees						301,972						169,182						255,763						109,517						—						836,434
Loans and letter of credit commitments						59,206						139,204						134,631						397,491						33,571						764,103
Total						503,104						382,395						414,579						507,008						33,571						1,840,657
Total net position						(2,037,256)						58,289						768,417						1,490,792						272,620						552,862

27

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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)

B.Liquidity risk (continued)

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.

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.

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:

			March 31, 2026												December 31, 2025
			Amount						Fair value						Amount						Fair value
Balances with Federal Reserve of the United States of America			1,597,260						1,597,260						1,734,177						1,734,177
Cash and balances with other bank (1)			341,755						341,755						108,031						108,031
Total Liquidity reserves			1,939,015						1,939,015						1,842,208						1,842,208

(1)Excludes pledged deposits.

iv.Financial assets available to support future funding

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

			March 31, 2026												December 31, 2025
			Guaranteed						Available as collateral						Guaranteed						Available as collateral
Cash and due from banks			76,507						1,939,015						80,954						1,842,208
Notional of investment securities			596,636						1,096,930						510,029						929,898
Loans at amortized cost - outstanding principal balance			—						9,465,094						—						9,104,725
Total			673,143						12,501,039						590,983						11,876,831

The total financial assets recognized in the condensed consolidated statement of financial position that had been pledged as collateral for liabilities as of March 31, 2026 and December 31, 2025 are show in the table above.

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

28

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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)

C.Market risk

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:

			March 31, 2026
			Up to 3 months						3 to 6 months						6 months to 1 year						1 to 5 years						More than 5 years						Non interest rate risk						Total
Assets
Cash and due from banks			2,004,373						5,000						—						—						—						6,148						2,015,521
Securities - principal			459,628						67,719						304,234						817,283						24,705						—						1,673,569
Loans - principal balance			6,550,908						2,024,147						794,303						321,850						5,058						—						9,696,266
Total			9,014,909						2,096,866						1,098,537						1,139,133						29,763						6,148						13,385,356
Liabilities
Customer deposits			(5,950,367)						(611,979)						(685,276)						(58,447)						—						(564)						(7,306,633)
Securities sold under repurchase agreements			(191,938)						(35,375)						(16,650)						—						—						—						(243,963)
Borrowings and debt			(2,670,038)						(885,665)						(69,196)						(431,414)						—						—						(4,056,313)
Total			(8,812,343)						(1,533,019)						(771,122)						(489,861)						—						(564)						(11,606,909)
Net effect of derivative financial instruments held
for interest risk management			1,604						(62)						(557)						10,042						—						—						11,027
Total interest rate sensitivity			204,170						563,785						326,858						659,314						29,763						5,584						1,789,474

			December 31, 2025
			Up to 3 months						3 to 6 months						6 months to 1 year						1 to 5 years						More than 5 years						Non interest rate risk						Total
Assets
Cash and due from banks			1,890,450						18,000						—						—						—						14,712						1,923,162
Securities - principal			268,495						132,025						195,048						797,495						21,571						—						1,414,634
Loans - principal balance			5,441,055						2,170,978						1,263,048						301,109						5,111						—						9,181,301
Total			7,600,000						2,321,003						1,458,096						1,098,604						26,682						14,712						12,519,097
Liabilities
Customer deposits			(5,136,030)						(792,898)						(426,691)						(244,735)						—						(3,862)						(6,604,216)
Securities sold under repurchase agreements			(129,698)						—						—						—						—						—						(129,698)
Borrowings and debt			(2,794,546)						(674,844)						(106,834)						(416,874)						—						—						(3,993,098)
Total			(8,060,274)						(1,467,742)						(533,525)						(661,609)						—						(3,862)						(10,727,012)
Net effect of derivative financial instruments held
for interest risk management			5,138						371						(1,041)						4,043						—						—						8,511
Total interest rate sensitivity			(455,136)						853,632						923,530						441,038						26,682						10,850						1,800,596

29

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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)

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:

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

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

-    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:

    

			Change in interest rate						Effect on profit or loss						Effect on equity						Effect on equity value (EVE)
March 31, 2026			+50 bps						2,658						5,673						(10,303)
			-50 bps						(3,590)						(5,783)						10,434
December 31, 2025			+50 bps						1,592						5,215						(9,823)
			-50 bps						(1,773)						(5,320)						9,911

30

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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)

C.Market risk (continued)

ii.     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.

			March 31, 2026
			Brazilian Real						European Euro						Japanese Yen						Colombian Peso						Mexican Peso						Other Currencies(1)						Total
Exchange rate			5.19						1.15						158.86						3,676.47						17.95
Assets
Cash and due from banks			67						13,619						8						62						3,988						64						17,808
Loans			—						26,554						—						—						452,294						26,929						505,777
Total			67						40,173						8						62						456,282						26,993						523,585
Liabilities
Customer deposits			—						(13,854)						—						—						—						—						(13,854)
Borrowings and debt			—						(26,074)						—						—						(455,878)						(26,929)						(508,881)
Total			—						(39,928)						—						—						(455,878)						(26,929)						(522,735)
Net currency position			67						245						8						62						404						64						850

    

			December 31, 2025
			Brazilian Real						European Euro						Japanese Yen						Colombian Peso						Mexican Peso						Other Currencies(1)						Total
Exchange rate			5.49						1.17						156.74						3,773.58						18.01
Assets
Cash and due from banks			60						1,847						8						50						2,309						80						4,354
Loans			—						27,472						—						—						415,704						25,175						468,351
Total			60						29,319						8						50						418,013						25,255						472,705
Liabilities
Borrowings and debt			—						(28,910)						—						—						(417,953)						(25,175)						(472,038)
Total			—						(28,910)						—						—						(417,953)						(25,175)						(472,038)
Net currency position			60						409						8						50						60						80						667

(1)It includes other currencies such as: Argentine pesos, Australian dollar, Swiss franc, Sterling pound, Costa Rican colones and Peruvian soles.

.

31

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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

A.Recurring fair value measurements

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

			March 31, 2026
			Level 1						Level 2						Level 3						Total
Assets
Loans at FVOCI			—						232,755						—						232,755
Securities and other financial assets:
Securities at FVOCI - Corporate debt			—						148,026						—						148,026
Securities at FVOCI - Sovereign debt			—						138,424						—						138,424
Total securities and other financial assets			—						519,205						—						519,205
Derivative financial instruments - assets:
For trading:
Interest rate swaps			—						2,427						—						2,427
Foreign exchange forwards			—						4						—						4
For hedging:
Interest rate swaps			—						14,437						—						14,437
Cross-currency swaps			—						43,160						—						43,160
Foreign exchange forwards			—						47						—						47
Total derivative financial instrument assets			—						60,075						—						60,075
Total assets at fair value			—						579,280						—						579,280
Liabilities
Derivative financial instruments - liabilities:
For trading:
Interest rate swaps			—						(1,033)						—						(1,033)
For hedging:
Interest rate swaps			—						(3,557)						—						(3,557)
Cross-currency swaps			—						(44,458)						—						(44,458)
Total derivative financial instruments - liabilities			—						(49,048)						—						(49,048)
Total liabilities at fair value			—						(49,048)						—						(49,048)

32

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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)

A.Recurring fair value measurements (continued)

			December 31, 2025
			Level 1						Level 2						Level 3						Total
Assets
Loans at FVOCI			—						77,240						—						77,240
Securities at FVOCI - Corporate debt			—						69,476						—						69,476
Total securities and other financial assets			—						146,716						—						146,716
Derivative financial instruments - assets:
For trading:
Interest rate swaps			—						1,569						—						1,569
For hedging:
Interest rate swaps			—						26,075						—						26,075
Cross-currency swaps			—						43,762						—						43,762
Total derivative financial instrument assets			—						71,406						—						71,406
Total assets at fair value			—						218,122						—						218,122
Liabilities
Derivative financial instruments - liabilities:
For trading:
Interest rate swaps			—						(433)						—						(433)
For hedging:
Interest rate swaps			—						(5,435)						—						(5,435)
Cross-currency swaps			—						(57,027)						—						(57,027)
Foreign exchange forwards			—						(44)						—						(44)
Total derivative financial instruments - liabilities			—						(62,939)						—						(62,939)
Total liabilities at fair value			—						(62,939)						—						(62,939)

33

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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)

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:

			March 31, 2026
			Carrying value						Fair value						Level 1						Level 2						Level 3
Assets
Cash and deposits in banks			2,016,428						2,016,428						—						2,016,428						—
Securities at amortized cost (1)			1,403,902						1,408,581						—						1,408,581						—
Loans at amortized cost (2)			9,450,338						9,718,515						—						9,718,515						—
Customers' liabilities under acceptances			230,591						230,591						—						230,591						—
Liabilities
Customer deposits			7,347,763						7,347,763						—						7,347,763						—
Securities sold under repurchase agreements			245,880						245,880						—						245,880						—
Borrowings and debt, net			4,090,790						4,121,901						—						4,121,901						—
Acceptances outstanding			230,591						230,591						—						230,591						—

			December 31, 2025
			Carrying value						Fair value						Level 1						Level 2						Level 3
Assets
Cash and deposits in banks			1,923,731						1,923,731						—						1,923,731						—
Securities at amortized cost (1)			1,359,514						1,375,788						—						1,375,788						—
Loans at amortized cost (2)			9,064,428						9,319,038						—						9,319,038						—
Customers' liabilities under acceptances			161,597						161,597						—						161,597						—
Liabilities
Customer deposits			6,640,290						6,640,290						—						6,640,290						—
Securities sold under repurchase agreements			130,509						130,509						—						130,509						—
Borrowings and debt, net			4,030,389						4,071,789						—						4,071,789						—
Acceptances outstanding			161,597						161,597						—						161,597						—

(1)The carrying value of securities at amortized cost is net of accrued interest receivable of $13.5 million and the allowance for expected credit losses of $0.5 millions as of March 31, 2026 (accrued interest receivable of $14.8 millions and the allowance for expected credit losses of $1.0 millions as of December 31, 2025).

(2)The carrying value of loans at amortized cost is net of accrued interest receivable of $115.2 million , the allowance for expected credit losses of $97.1 millions and unearned interest and deferred fees of $32.9 millions as of March 31, 2026 (accrued interest receivable of $87.8 millions, the allowance for expected credit losses of $93.8 millions and unearned interest and deferred fees of $34.3 millions as of December 31, 2025).

34

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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:

			March 31, 2026						December 31, 2025
Demand deposits (1)			1,850,161						1,767,208
Time deposits			88,854						75,000
Total cash and cash equivalent			1,939,015						1,842,208
Time deposits with original maturity over 90 days and other restricted and pledged deposits (2)			76,506						80,954
Total cash and due from bank			2,015,521						1,923,162
Interest receivable deposits			1,032						724
Total cash and due from banks and interest			2,016,553						1,923,886
Less: Allowance for credit losses			(125)						(155)
Total cash and due from banks, net			2,016,428						1,923,731

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

			March 31,
			March 31, 2026						December 31, 2025
Country:
Chile(2)			28,000						28,000
Germany			11,513						12,114
Japan			9,000						15,860
Netherlands			3,540						—
Panama			1,600						1,600
Spain			476						—
United Kingdom			957						—
United States of America(2)			21,420						23,380
Total			76,506						80,954

(1) Demand deposits includes $1,597 million (December 31, 2025: $1,734 million) at Federal Reserve of United States of America.

(2) As a March 31, 2026 restricted deposit of $28 million are included (2025: $28 million), with the New York State Department of Financial Services under March 1994 legislation.

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

						March 31, 2026												December 31, 2025
Credit rating:
Aaa-Aa3						1,837,889												1,739,387
A1-A3						97,335												94,735
Baa1-Baa3						79,164												77,952
Ba1-Ba3						164												200
Caa1-Caa3						44												75
No rating						925												10,813
						2,015,521												1,923,162

35

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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:

March 31, 2026						Amortized cost						FVOCI (1)																		Total
Principal						1,390,885						282,684																		1,673,569
Interest receivable						13,529						3,766																		17,295
Gross amount						1,404,414						286,450																		1,690,864
Allowance (1)						(512)						—																		(512)
Total						1,403,902						286,450																		1,690,352

December 31, 2025						Amortized cost						FVOCI (1)																		Total
Principal						1,345,742						68,892																		1,414,634
Interest receivable						14,755						584																		15,339
Gross amount						1,360,497						69,476																		1,429,973
Allowance (1)						(983)						—																		(983)
Total						1,359,514						69,476																		1,428,990

(1)As of March 31, 2026 and December 31, 2025, the allowance for credit losses on securities at FVOCI for $788 thousand and $16 thousand, respectively, is included in equity within Other comprehensive income in the condensed consolidated statement of financial position.

Securities by contractual maturity are shown in the following table:

March 31, 2026						Amortized cost						FVOCI																		Total
Due within 1 year						497,524						42,579																		540,103
After 1 to 5 years						893,361						215,400																		1,108,761
After 5 to 10 years						—						24,705																		24,705
Balance - principal						1,390,885						282,684																		1,673,569

December 31, 2025						Amortized cost						FVOCI																		Total
Due within 1 year						372,910						55,540																		428,450
After 1 to 5 years						951,261						13,352																		964,613
After 5 to 10 years						21,571						—																		21,571
Balance - principal						1,345,742						68,892																		1,414,634

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

			March 31, 2026																		December 31, 2025
Securities pledged to secure repurchase transactions			271,002																		147,480
Securities sold under repurchase agreements			(245,880)																		(130,509)

As of March 31, 2026, sales of $10 millions were executed for investments that have experienced a significant increase in credit risk.

36

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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:

March 31, 2026			Amortized cost						FVOCI (1)												Total
Loans - principal balance			9,465,094						231,172												9,696,266
Interest receivable			115,230						2,334												117,564
Unearned interest and deferred fees			(32,862)						(751)												(33,613)
Gross balance			9,547,462						232,755												9,780,217
Allowance for credit losses			(97,124)						—												(97,124)
Loans, net			9,450,338						232,755												9,683,093

December 31, 2025			Amortized cost						FVOCI (1)												Total
Loans - principal balance			9,104,725						76,576												9,181,301
Interest receivable			87,837						982												88,819
Unearned interest and deferred fees			(34,326)						(318)												(34,644)
Gross balance			9,158,236						77,240												9,235,476
Allowance for credit losses			(93,808)						—												(93,808)
Loans, net			9,064,428						77,240												9,141,668

(1)As of March 31, 2026, the allowance for credit losses of loans at FVOCI for $909 thousand are included in equity in the condensed consolidated statement of financial position in the line Other comprehensive income.

As of March 31, 2026, the Bank does not maintain loan sales.

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

			March 31, 2026						December 31, 2025
Fixed interest rate			5,297,959						5,065,160
Floating interest rates			4,482,258						4,170,316
Total			9,780,217						9,235,476

As of March 31, 2026, 78% (December 31, 2025: 70%) of the loan portfolio at fixed interest rates has remaining maturities of less than 180 days. Interest rates on loans ranges from 4.22% to 16.28% (December 31, 2025: 3.70% to16.28%).

37

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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:

			March 31, 2026						December 31, 2025
Documentary letters of credit			278,412						240,120
Stand-by letters of credit and guarantees - commercial risk			817,455						836,434
Loans Commitments			752,860						720,435
Letters of credit Commitments			37,448						43,668
Total			1,886,175						1,840,657

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

			March 31, 2026						December 31, 2025
Up to 1 year			1,425,623						1,331,002
From 1 to 2 years			180,765						213,223
Over 2 to 5 years			246,216						262,861
More than 5 years			33,571						33,571
Total			1,886,175						1,840,657

9.(Loss) gain on financial instruments, net

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

									March 31,
															2026						2025
Realized (loss) gain on sale of financial instruments
Investment Securities
At amortized cost															—						(452)
At fair value through other comprehensive income															—						87
Customer derivatives
Realized gain on intermediary derivatives															21						—
Other financial instruments
(Loss) gain on derivative financial instruments and foreign currency exchange, net															(612)						1,902
Total realized (loss) gain on financial instruments															(591)						1,537
Unrealized gain on financial instruments
Intermediary derivatives															257						23
Other trading financial instruments															4						424
Total unrealized gain on financial instruments															261						447
Total (loss) gain on financial instruments, net															(330)						1,984

38

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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

A.Trading derivative financial instruments

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

			March 31, 2026
			Notional amount						Carrying amount of trading derivative
									Asset						Liability
Interest Rate Swap			531,716						2,427						(1,033)
Forward contract			484						4						—
			532,200						2,431						(1,033)

			December 31, 2025
			Notional amount						Carrying amount of trading derivative
									Asset						Liability
Interest Rate Swap			536,716						1,569						(433)
			536,716						1,569						(433)

			March 31, 2026
			Forward contract						Interest rate swap												Total
Up to 1 year			484						—												484
Over 2 to 5 years			—						281,716												281,716
More than 5 years			—						250,000												250,000
Total			484						531,716												532,200

									December 31, 2025
									Interest rate swap						Total
Over 2 to 5 years									286,716						286,716
More than 5 years									250,000						250,000
Total									536,716						536,716

39

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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)

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:

			March 31, 2026
			Notional amount (2)						Carrying amount of hedging instruments
									Asset (1)						Liability (1)
Interest rate risk
Fair value hedges			3,704,626						14,436						(3,557)
Interest rate and foreign exchange risk
Fair value hedges			203,221						11,199						(10,440)
Cash flow hedges			1,181,770						31,962						(34,018)
Foreign exchange risk
Cash flow hedges			36,295						47						—
			5,125,912						57,644						(48,015)

			December 31, 2025
			Notional amount (2)						Carrying amount of hedging instruments
									Asset (1)						Liability (1)
Interest rate risk
Fair value hedges			1,217,765						26,075						(5,435)
Interest rate and foreign exchange risk
Fair value hedges			204,032						13,012						(9,730)
Cash flow hedges			1,113,263						30,750						(47,297)
Foreign exchange risk
Cash flow hedges			7,039						—						(44)
			2,542,099						69,837						(62,506)

(1)Included in the condensed consolidated statement of financial position under the line Hedging derivative financial instruments - assets or liabilities.

(2)At March 31, 2026 the notional amounts of derivative financial instruments include $1,234.5 million (December 31, 2025: $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 (December 31, 2025: $307.8 million at).

40

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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)

B. Hedging derivative financial instruments (continued)

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:

			March 31, 2026
			Notional amount						Carrying amount of hedging instruments												Changes in fair value used to calculate hedge ineffectiveness (2)						Ineffectiveness recognized in profit or loss (2)
									Asset (1)						Liability (1)
Interest rate risk
Loans			25,000						—						(456)						195						28
Securities at amortized cost			295,261						509						(2,353)						2,096						(883)
Customer deposits			60,000						153						—						(158)						12
Repurchase agreements			60,485						521						(747)						(67)						41
Borrowings and debt			3,263,881						13,253						(2)						(4,458)						(322)
Interest rate and foreign exchange risk
Loans			11,126						—						(741)						(67)						(43)
Borrowings and debt			192,094						11,199						(9,698)						(702)						441
Total			3,907,847						25,635						(13,997)						(3,161)						(726)

			December 31, 2025
			Notional amount						Carrying amount of hedging instruments												Changes in fair value used to calculate hedge ineffectiveness (2)						Ineffectiveness recognized in profit or loss (2)
									Asset (1)						Liability (1)
Interest rate risk
Loans			25,000						—						(644)						(636)						(29)
Securities at amortized cost			164,600						—						(4,383)						(2,932)						655
Customer deposits			60,000						270						—						384						(7)
Repurchase agreements			60,485						147						(395)						9						(65)
Borrowings and debt			907,680						25,658						(13)						14,279						263
Interest rate and foreign exchange risk
Loans			11,938						—						(742)						(648)						74
Borrowings and debt			192,094						13,012						(8,988)						16,553						(431)
Total			1,421,797						39,087						(15,165)						27,009						460

(1)Included in the condensed consolidated statement of financial position under the line Hedging derivative financial instruments - assets or liabilities.

(2)Included in the condensed consolidated statement of profit or loss under the line Gain (loss) on financial instruments, net.

41

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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)

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:

			March 31, 2026
			Carrying amount of hedged items												Line in the consolidated statement of financial position that includes the carrying amount of the hedged items						Accumulated amount of fair value hedge adjustments included in the carrying amount of the hedged items						Change in fair value of the hedged items used to calculate hedge ineffectiveness (1)
			Asset						Liability
Interest rate risk
Loans			25,761						—						Loans, net						440						(167)
Securities at amortized cost			299,897						—						Securities, net						608						(2,979)
Customer deposits			—						(61,071)						Demand deposits						(102)						170
Repurchase agreements			—						(61,362)						Securities sold under repurchase agreements						(61)						108
Borrowings and debt			—						(292,132)						Borrowings and debt, net						(6,027)						4,136
Interest rate and foreign exchange risk
Loans			11,253						—						Loans, net						746						24
Borrowings and debt			—						(193,809)						Borrowings and debt, net						(1,526)						1,143
Total			336,911						(608,374)												(5,922)						2,435

			December 31, 2025
			Carrying amount of hedged items												Line in the consolidated statement of financial position that includes the carrying amount of the hedged items						Accumulated amount of fair value hedge adjustments included in the carrying amount of the hedged items						Change in fair value of the hedged items used to calculate hedge ineffectiveness (1)
			Asset						Liability
Interest rate risk
Loans			25,938						—						Loans, net						607						607
Securities at amortized cost			169,643						—						Securities, net						3,587						3,587
Customer deposits			—						(60,477)						Demand deposits						(273)						(391)
Repurchase agreements			—						(61,027)						Securities sold under repurchase agreements						(168)						(74)
Borrowings and debt			—						(301,065)						Borrowings and debt, net						(10,171)						(14,016)
Interest rate and foreign exchange risk
Loans			12,117						—						Loans, net						722						722
Borrowings and debt			—						(196,801)						Borrowings and debt, net						(2,669)						(16,984)
Total			207,698						(619,370)												(8,365)						(26,549)

(1)Included in the condensed consolidated statement of profit or loss under the line Gain (loss) on financial instruments, net.

42

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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)

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:

			March 31, 2026
			Interest rate swaps						Cross currency swaps						Total
Up to 1 year			469,462						33,385						502,847
From 1 to 2 years			2,758,764						108,674						2,867,438
Over 2 to 5 years			447,132						51,037						498,169
More than 5 years			29,268						10,125						39,393
Total			3,704,626						203,221						3,907,847

			December 31, 2025
			Interest rate swaps						Cross currency swaps						Total
Up to 1 year			374,769						19,882						394,651
From 1 to 2 years			298,293						122,176						420,469
Over 2 to 5 years			515,435						51,849						567,284
More than 5 years			29,268						10,125						39,393
Total			1,217,765						204,032						1,421,797

43

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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)

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:

									March 31, 2026
																					Current						Overdue						Total
Ineffectiveness recognized in profit or loss
Interest rate risk
Loans																					28						—						28
Securities at amortized cost																					(883)						—						(883)
Customer deposits																					11						—						11
Repurchase agreements																					41						—						41
Borrowings and debt																					(324)						2						(322)
Interest rate and foreign exchange risk
Loans																					(43)						—						(43)
Borrowings and debt																					442						—						442
Total																					(728)						2						(726)

									March 31, 2025
																					Current						Overdue						Total
Ineffectiveness recognized in profit or loss
Interest rate risk
Loans																					(31)						—						(31)
Securities at amortized cost																					493						—						493
Customer deposits																					2						134						136
Repurchase agreements																					(6)						(28)						(34)
Borrowings and debt																					(174)						—						(174)
Interest rate and foreign exchange risk
Borrowings and debt																					(193)						—						(193)
Total																					91						106						197

44

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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)

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:

			March 31, 2026
									Carrying amount of hedging instruments												Change in fair value used for calculating hedge ineffectiveness						Changes in the fair value of the hedging instruments recognized in OCI (2)						Ineffectiveness recognized in profit or loss (3)						Amount reclassified from the hedge reserve to profit or loss (4)
			Nominal amount						Asset (1)						Liability (1)
Interest rate and foreign exchange risk
Loans			9,828						—						(361)						(328)						(328)						—						—
Borrowings and debt			1,171,942						31,962						(33,657)						7,315						7,478						163						2
Foreign exchange risk
Loans			1,313						27						—						27						27						—						—
Borrowings and debt			34,982						20						—						—						—						—						—
Total			1,218,065						32,009						(34,018)						7,014						7,177						163						2

			December 31, 2025
									Carrying amount of hedging instruments												Change in fair value used for calculating hedge ineffectiveness						Changes in the fair value of the hedging instruments recognized in OCI (2)						Ineffectiveness recognized in profit or loss (3)						Amount reclassified from the hedge reserve to profit or loss (4)
			Nominal amount						Asset (1)						Liability (1)
Interest rate and foreign exchange risk
Loans			20,658						—						(1,697)						(1,810)						(1,810)						—						(44)
Borrowings and debt			1,092,605						30,750						(45,600)						100,248						100,802						554						(466)
Foreign exchange risk
Loans			7,039						—						(44)						(44)						(44)						—						(278)
Total			1,120,302						30,750						(47,341)						98,394						98,948						554						(763)

(1) Included in the condensed consolidated statement of financial position under the line Hedging derivative financial instruments - assets or liabilities.

(2) Included in equity in the condensed consolidated statement of financial position under the line Other comprehensive income (loss).

(3) Hedge ineffectiveness attributable to matured hedges included in the condensed consolidated statement of profit or loss in the line Gain (loss) on financial instruments, net.

(4) Hedging reserve attributable to expired hedges reclassified to the condensed consolidated statement of profit or loss in the line Gain (loss) on financial instruments, net.

45

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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)

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:

			March 31, 2026
			Carrying amount of hedged items												Line in the consolidated statement of financial position that includes the carrying amount of the hedged items						Change in the fair value of the hedged items used to calculate the hedge ineffectiveness (1)						Cash flow hedge reserve
			Asset						Liability
Interest rate risk
Borrowings and debt			—						—						Borrowings and debt, net						—						(3,705)
Interest rate and foreign exchange risk
Loans			10,164						—						Loans, net						328						31
Borrowings and debt			—						(1,180,042)						Borrowings and debt, net						(7,315)						(2,654)
Foreign exchange risk
Loans			1,277						—						Loans, net						(27)						—
Borrowings and debt			—						(34,640)						Borrowings and debt, net						—						73
Total			11,441						(1,214,682)												(7,014)						(6,255)

			December 31, 2025
			Carrying amount of hedged items												Line in the consolidated statement of financial position that includes the carrying amount of the hedged items						Change in the fair value of the hedged items used to calculate the hedge ineffectiveness (1)						Cash flow hedge reserve
			Asset						Liability
Interest rate and foreign exchange risk
Loans			21,191						—						Loans, net						1,810						61
Borrowings and debt			—						(1,101,787)						Borrowings and debt, net						(100,248)						(1,332)
Foreign exchange risk
Loans			7,077						—						Loans, net						44						(29)
Total			28,268						(1,101,787)												(98,394)						(1,300)

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

						March 31, 2026
						Foreign exchange forward contract												Cross currency swaps						Total
Up to 1 year						36,295												477,858						514,153
From 1 to 2 years						—												79,382						79,382
Over 2 to 5 years						—												595,262						595,262
More than 5 years						—												29,268						29,268
Total						36,295												1,181,770						1,218,065

46

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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)

B. Hedging derivative financial instruments (continued)

												December 31, 2025
												Foreign exchange forward contract						Cross currency swaps						Total
Up to 1 year												7,039						324,098						338,176
From 1 to 2 years												—						116,762						116,762
Over 2 to 5 years												—						643,135						643,135
More than 5 years												—						29,268						29,268
Total												7,039						1,113,263						1,127,341

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

									March 31, 2026
																					Current						Overdue						Total
Ineffectiveness recognized in profit or loss
Interest rate and foreign exchange risk
Borrowings and debt																					163						2						165
Total																					163						2						165

									March 31, 2025
																					Current						Overdue						Total
Ineffectiveness recognized in profit or loss
Interest rate and foreign exchange risk
Loans																					(2)						—						(2)
Borrowings and debt																					537						162						699
Total																					535						162						697

11.Other assets

Following is a summary of other assets:

			March 31, 2026						December 31, 2025
Accounts receivable			3,957						5,480
Prepaid expenses			4,761						1,173
Prepaid fees and commissions			271						567
IT projects under development			10,292						9,755
Improvement project under development			440						1,710
Severance fund			3,085						2,934
Other			4,738						6,965
Total			27,544						28,584

47

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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

Following is a summary of customer deposits:

			March 31, 2026						December 31, 2025
Demand deposits			849,400						698,570
Time deposits			6,457,233						5,905,646
			7,306,633						6,604,216
Interest payable			41,130						36,074
Total			7,347,763						6,640,290

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

			Remaining term												Original contractual
			March 31, 2026						December 31, 2025						March 31, 2026						December 31, 2025
Demand			849,400						698,570						849,400						698,570
Up to 1 month			3,272,327						3,110,156						2,435,967						2,033,327
From 1 to 3 months			1,769,109						1,331,165						1,356,333						1,291,076
From 3 to 6 months			611,979						732,639						1,411,574						1,420,130
From 6 month to 1 year			748,502						487,901						899,346						824,770
From 1 to 2 years			22,217						217,045						314,125						303,104
From 2 to 5 years			33,099						26,740						39,888						33,239
Total			7,306,633						6,604,216						7,306,633						6,604,216

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

			March 31, 2026						December 31, 2025
Aggregate amount of $100,000 or more			7,305,877						6,603,585
Aggregate amount of deposits in the New York Agency			2,080,096						1,891,001

									March 31,
															2026						2025
Interest expense on deposits made in the New York Agency															19,919						17,649

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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)

13.Securities sold under repurchase agreements

The following table details the financing under repurchase agreement:

						March 31, 2026						December 31, 2025
Financing transactions under repurchase agreements						243,963						129,698
Interest payable						1,917						811
Total financing under repurchase agreement						245,880						130,509

									March 31,
															2026						2025
Interest expense on financing contracts under repurchase agreement															1,640						2,401

Financing contracts under repurchase agreements generate interest range from 4.02% to 5.36% (December 31, 2025: 4.49% to 5.36% ) with several maturities up to October 16, 2026.

As indicated in Note 6, as of March 31, 2026, the repurchase agreements were secured by investments classified as amortized cost by the amount of $271 millions (December 31, 2025: $147 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 March 31, 2026, the Bank was in compliance with all those covenants.

Carrying amount of borrowings and debt is detailed as follows:

			March 31, 2026
			Short-Term												Long-term
			Borrowings						Debt						Borrowings						Debt						Total
Principal			1,639,200						1,750						762,440						1,659,839						4,063,229
Transaction costs			—						(1)						(2,949)						(3,966)						(6,916)
Interest payable			12,635						17						4,359						17,466						34,477
			1,651,835						1,766						763,850						1,673,339						4,090,790

			December 31, 2025
			Short-Term												Long-term
			Borrowings						Debt						Borrowings						Debt						Total
Principal			1,508,959						1,750						757,775						1,732,286						4,000,770
Transaction costs			(48)						(2)						(2,952)						(4,670)						(7,672)
Interest payable			9,095						5						7,787						20,404						37,291
			1,518,006						1,753						762,610						1,748,020						4,030,389

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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:

			March 31, 2026						December 31, 2025
Short-term borrowings:
At fixed interest rates			1,564,688						1,508,959
At floating interest rates			74,512						—
Principal			1,639,200						1,508,959
Less: Transaction costs			—						(48)
Interest payable			12,635						9,095
Total short-term borrowings, net			1,651,835						1,518,006
Short-term debt:
At fixed interest rates			1,750						1,750
Principal			1,750						1,750
Less: Transaction costs			(1)						(2)
Interest payable			17						5
Total short-term debt, net			1,766						1,753
Total short-term borrowings and debt			1,653,601						1,519,759
Range of fixed interest rates on borrowings and debt in U.S. dollars			3.75% to 4.65%						3.75% to 4.77%
Range of fixed interest rates on borrowings in Mexican pesos			7.30% to 7.65%						7.68% to 7.72%
Range of floating interest rates on borrowings and debt in Mexican pesos			7.59% to 7.72%						—
Range of fixed interest rates on borrowings and debt in Euros			2.60% to 3.40%						2.52% to 2.63%

    

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

			March 31, 2026						December 31, 2025
US dollar			1,336,786						1,455,149
Mexican peso			243,455						26,650
Euros			60,709						28,910
Total			1,640,950						1,510,709

    

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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:

			March 31, 2026						December 31, 2025
Long-term borrowings:
At fixed interest rates			59,907						64,244
At floating interest rates			702,533						693,531
Principal			762,440						757,775
Less: Transaction costs			(2,949)						(2,952)
Interest payable			4,359						7,787
Total long-term borrowings, net			763,850						762,610
Long-term debt:
At fixed interest rates			729,535						737,148
At floating interest rates			930,304						995,138
Principal			1,659,839						1,732,286
Less: Prepaid commissions			(3,966)						(4,670)
			17,466						20,404
Total long-term debt, net			1,673,339						1,748,020
Total long-term borrowings and debt, net			2,437,189						2,510,630
Range of fixed interest rates on borrowings and debt in U.S. dollars			4.75% to 6.15%						4.75% to 6.15%
Range of floating interest rates on borrowings and debt in U.S. dollars			4.77% to 5.63%						4.80% to 5.66%
Range of fixed interest rates on borrowings and debt in Mexican pesos			9.20% to 10.78%						6.50% to 10.78%
Range of floating interest rates on borrowings and debt in Mexican pesos			7.36% to 8.33%						7.66% to 8.61%
Range of floating interest rates on borrowings and debt in Costa Rican colones			6.27		%				6.28		%
Range of fixed interest rates on debt in Japanese yens			1.10% to 2.28%						0.95% to 1.90%
Range of fixed interest rates on debt in Euros			0.90% to 3.16%						0.90% to 3.16%
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		%

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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:

			March 31, 2026						December 31, 2025
US dollar			821,210						786,949
Mexican peso			1,374,127						1,480,905
Japanese yen			129,547						125,167
Euro			28,780						29,326
Peruvian soles			27,025						27,961
Australian dollar			9,766						9,599
Sterling pound			4,895						4,979
Costa Rican colones			26,929						25,175
Carrying amount - principal			2,422,279						2,490,061

Future payments of long-term borrowings and debt outstanding as of March 31, 2026, are as follows:

Year			Outstanding
2026			278,694
2027			892,401
2028			879,148
2029			309,838
2030			19,000
2031			33,432
2034			9,766
Carrying amount - principal			2,422,279

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

			2026						2025
Balance as of January 1,			4,030,389						4,352,316
Monetary transactions:
Net decrease in short-term borrowings and debt			132,499						(423,544)
Proceeds from long-term borrowings and debt			71,686						64,394
Payments of long-term borrowings and debt			(144,871)						(34,076)
Non-monetary transactions:
Change in foreign currency rates			5,345						37,508
Fair value adjustment due to hedge accounting relationship			(1,800)						6,892
Other adjustments			711						1,052
Liability-related
Interest expense			54,961						73,625
Interest payable			(58,130)						(68,020)
Balance as of March 31,			4,090,790						4,010,147

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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:

			March 31, 2026						December 31, 2025
Up to 1 year			2,125						2,126
From 1 to 5 years			8,083						8,134
After 5 to 10 years			11,699						12,179
Total undiscounted lease liabilities			21,907						22,439
Short-term			1,475						1,461
Long-term			16,593						16,968
Total lease liabilities included in the condensed condensed consolidated statement of financial position			18,068						18,429

Amounts recognized in the condensed condensed consolidated statement of cash flows:

			March 31,
			2026						2025
Payments of lease liabilities			357						244

Amounts recognized in condensed condensed consolidated statement of profit or loss:

									March 31,
															2026						2025
Interest on lease liabilities															(172)						(182)

16. Other liabilities

Following is a summary of other liabilities:

			March 31, 2026						December 31, 2025
Accruals and other accumulated expenses			18,895						26,901
Accounts payable			7,514						8,751
Unearned commissions			9,658						15,628
Others			83						83
Total			36,150						51,363

17. Dividends and coupon

The following imports were recognized as dividends to equity holders:

			March 31,
			2026						2025
Dividends per ordinary share			25,807						23,222
Coupons payable on other equity instruments			7,500						—
Total			33,307						23,222

At the Board of Directors’ meeting held on February 10, 2026, the payment of the first coupon on the Bank’s Additional Tier 1 (AT1) capital instruments was approved, which was paid on March 18, 2026.

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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:

									March 31,
															2026						2025
(Thousands of U.S. dollars)
Profit for the period															56,355						51,732
Coupons payable on other equity instruments															(7,500)						—
Profit for the period attributable to holders oof ordinary shares															48,855						51,732
(U.S. dollars)
Basic earnings per share															1.31						1.40
(Thousands of shares)
Weighted average of common shares outstanding applicable to basic EPS															37,387						36,941

19.Fee and commission income

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

									March 31,
															2026						2025
Structured services															3,123						2,389
Letters of credit and guarantees															7,295						6,710
Credit commitments															3,595						1,397
Other commissions															405						434
Total fee and commission income															14,418						10,930
Fees and commission expense															(1,288)						(347)
Total															13,130						10,583

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

			March 31, 2026
Up to 1 year			11,090
From 1 to 2 years			1,017
More than 2 years			1,484
Total			13,591

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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

        The following table provides certain information regarding the Bank’s operations by segment:

									March 31, 2026
																					Commercial						Treasury						Total
Interest income																					155,781						30,167						185,948
Interest expense																					(138)						(115,604)						(115,742)
Inter-segment net interest income																					(93,367)						93,367						—
Net interest income																					62,276						7,930						70,206
Other income (expense), net																					13,407						(513)						12,894
Total income																					75,683						7,417						83,100
Provision for credit losses																					(5,239)						505						(4,734)
Operating expenses																					(17,380)						(4,631)						(22,011)
Segment profit																					53,064						3,291						56,355
Segment assets																					10,172,721						3,538,876						13,711,597
Segment liabilities																					257,881						11,737,095						11,994,976

									March 31, 2025
																					Commercial						Treasury						Total
Interest income																					158,262						31,158						189,420
Interest expense																					(146)						(124,018)						(124,164)
Inter-segment net interest income																					(99,087)						99,087						—
Net interest income																					59,029						6,227						65,256
Other income (expense), net																					10,881						1,812						12,693
Total income																					69,910						8,039						77,949
Provision for credit losses																					(5,075)						(141)						(5,216)
Operating expenses																					(16,921)						(4,080)						(21,001)
Segment profit																					47,914						3,818						51,732
Segment assets																					9,166,885						3,210,260						12,377,145
Segment liabilities																					463,622						10,519,897						10,983,519

55

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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:

									March 31,
															2026						2025
Profit for the period															56,355						51,732
Assets:
Assets from reportable segments															13,711,597						12,377,145
Other assets - unallocated															27,544						17,713
Total															13,739,141						12,394,858
Liabilities:
Liabilities from reportable segments															11,994,976						10,983,519
Other liabilities - unallocated															36,150						40,667
Total															12,031,126						11,024,186

21.Related party transactions

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

									March 31,
															2026						2025
Expenses:
Compensation costs to directors															780						598
Compensation costs to executives															5,855						3,560

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 March 31, 2026, 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.

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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

Liquidity index

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 March 31, 2026, and December 31, 2025, the minimum LCR to be reported to the SBP was 100%. The Bank´s LCR as of March 31, 2026 was 143.8% (December 31, 2025: 159.3%).

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			x 100 = X% (Liquidity index)
Liabilities (Deposits received)

The liquidity index reported by the Bank to the regulator as of March 31, 2026 was 46.5% (December 31, 2025: 60.7%).

Capital adequacy

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 March 31, 2026, 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:

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

(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.

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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:

			March 31, 2026						December 31, 2025
Ordinary primary capital, net of adjustments			1,342,549						1,322,970
Capital funds			1,699,996						1,675,484
Risk-weighted assets			11,592,040						10,822,730
Ordinary capital index			11.6%						12.2%
Ordinary capital total			13.4%						14.1%
Capital adequacy index			14.7%						15.5%

Leverage ratio

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 condensed 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:

			March 31, 2026						December 31, 2025
Ordinary capital			1,342,549						1,322,970
Non-risk-weighted assets			14,272,650						13,402,426
Leverage ratio			9.4%						9.9%

Regulatory reserves

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

			March 31, 2026						December 31, 2025
Dynamic asset reserve			159,471						154,538
Regulatory reserve for individual credits			4,475						4,555
Total regulatory reserves			163,946						159,093

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.

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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 $4,475 million as of March 31, 2026 (December 31, 2025: $4,555 million).

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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:

			March 31, 2026
			Normal						Special mention						Substandard						Doubtful						Unrecoverable						Total
Loans at amortized cost
Corporations			6,725,225						136,785						—						26,933						11,775						6,900,718
Financial institutions:
Private			2,296,171						—						—						—						—						2,296,171
State-owned			152,917						—						—						—						—						152,917
			2,449,088						—						—						—						—						2,449,088
Sovereign			115,288						—						—						—						—						115,288
Total			9,289,601						136,785						—						26,933						11,775						9,465,094
Loans at FVOCI
Corporations			197,135						—						—						—						—						197,135
Financial institutions:
Private			29,086						—						—						—						—						29,086
State-owned			4,951						—						—						—						—						4,951
Total			34,037						—						—						—						—						34,037
Sovereign			—						—						—						—						—						—
Total			231,172						—						—						—						—						231,172
Total loans			9,520,773						136,785						—						26,933						11,775						9,696,266
Specific Provision			—						27,357						—						21,546						7,300						56,203
Allowance for loan
losses under IFRS (*):			30,602						38,256						—						20,286						8,889						98,033

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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, 2025
			Normal						Special mention						Substandard						Doubtful						Unrecoverable						Total
Loans at amortized cost
Corporations			6,195,013						101,333						—						26,933						11,775						6,335,054
Financial institutions:
Private			2,401,466						—						—						—						—						2,401,466
State-owned			250,036						—						—						—						—						250,036
			2,651,502						—						—						—						—						2,651,502
Sovereign			118,169						—						—						—						—						118,169
Total			8,964,684						101,333						—						26,933						11,775						9,104,725
Loans at FVOCI
Corporations			52,261						—						—						—						—						52,261
Financial institutions:
Private			19,363						—						—						—						—						19,363
State-owned			4,952						—						—						—						—						4,952
			24,315						—						—						—						—						24,315
Total			76,576						—						—						—						—						76,576
Total loans			9,041,260						101,333						—						26,933						11,775						9,181,301
Specific Provision			—						20,267						—						21,546						7,220						49,033
Allowance for loan
losses under IFRS (*):			34,406						30,891						—						20,126						8,853						94,276

As of March 31, 2026 the restructured loans are $49.7 millions, (December 31, 2025: the restructured loans are for $51.2 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.

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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)

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

						March 31, 2026
						Current						Past due						Delinquent						Total
Loans at amortized cost
Corporations						6,863,678						—						37,040						6,900,718
Financial institutions:
Private						2,296,171						—						—						2,296,171
State-owned						152,917						—						—						152,917
						2,449,088						—						—						2,449,088
Sovereign						115,288						—						—						115,288
Total						9,428,054						—						37,040						9,465,094
Loans at FVOCI
Corporations						197,135						—						—						197,135
Financial institutions:
Private						29,086						—						—						29,086
State-owned						4,951						—						—						4,951
Total						231,172						—						—						231,172
Total loans						9,659,226						—						37,040						9,696,266

						December 31, 2025
						Current						Past due						Delinquent						Total
Loans at amortized cost
Corporations						6,298,014						20,000						17,040						6,335,054
Financial institutions:
Private						2,401,466						—						—						2,401,466
State-owned						250,036						—						—						250,036
						2,651,502						—						—						2,651,502
Sovereign						118,169						—						—						118,169
Total						9,067,685						20,000						17,040						9,104,725
Loans at FVOCI
Corporations						52,261						—						—						52,261
Financial institutions:
Private						19,363						—						—						19,363
State-owned						4,952						—						—						4,952
Total						76,576						—						—						76,576
Total loans						9,144,261						20,000						17,040						9,181,301

62

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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)

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

			March 31, 2026
			Normal						Special mention						Substandard						Doubtful						Unrecoverable						Total
Loans at amortized cost
Impaired loans			—						—						—						26,933						11,775						38,708
Total			—						—						—						26,933						11,775						38,708

			December 31, 2025
			Normal						Special mention						Substandard						Doubtful						Unrecoverable						Total
Loans at amortized cost
Impaired loans			—						—						—						26,933						11,775						38,708
Total			—						—						—						26,933						11,775						38,708

			March 31, 2026						December 31, 2025
Non-accruing loans:
Private corporations			38,708						38,708
Unrecognized interest on non-accrual loans			1,498						1,302

As of March 31, 2026, and December 31, 2025, 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 April 21, 2026, the Board approved the declaration of a quarterly cash dividend of US$0.6875 per common share, relating to the first quarter of 2026. The dividend will be paid on May 27, 2026 to holders of the Bank’s common shares of record as of May 8, 2026.

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