Organizational Structure

Bladex Representação Ltda.

Bladex is the owner of 99.999% and Bladex Holdings Inc is the owner of 0.001% of Bladex Representação Ltda, incorporated under the laws of Brazil. It was established to act as the Bank's representative office in Brazil. There are two offices, one in Sao Paulo established in January 7, 2000 and one in Porto Alegre established in July 29, 2010.

Bladex Holdings Inc.

Bladex Holdings is a wholly owned subsidiary of Bladex, incorporated under the laws of the State of Delaware on May 30, 2000. Subsidiaries: Bladex Asset Management Inc.

Bladex Offshore Feeder Fund ( the “Fund” or “BOFF”),

A 95.84% subsidiary of the Bank, was incorporated under the laws of Cayman Islands on February 21, 2006, as an investment company, and in turn is the 98.01% owner of Bladex Capital Growth Fund, which was also incorporated under the laws of the Cayman Islands on February 21, 2006.

Bladex Capital Growth Fund

A 98.01% owned subsidiary of Bladex Offshore Feeder Fund, was incorporated under the laws of the Cayman Island on February 21, 2006. It is an investment fund established to operate a propietary fixed income desk for Bladex.

Bladex Asset Management Inc.

A wholly owned subsidiary of Bladex Holdings Inc., which in turn is a wholly owned subsidiary of the Bank, was incorporated under the laws of the State of Delaware on May 24, 2006. The company provides investment advisory services for funds or managed accounts.

BCG PA LLC

Is 50% owned by Bladex, the other 50% being owned by BCG PA Associates LLC. The Company was incorporated under the laws of the state of Delaware on April 18, 2008.

New York Agency

The Bank established an agency in the State of New York (The “New York Agency”), which started operations on November 4, 1988. The New York Agency is mainly engaged in acquiring short-term obligations and interbank deposits in order to finance its short-term investments, as well as for extending foreign trade loans.

The Bank was authorized to act with a representative in Argentina on July 15, 1986. Such representation is in charge of Argentina, Bolivia, Paraguay and Uruguay. On November 29, 2000, it was authorized to open a representative office in Mexico City, Mexico and on October 30, 2006 to transact business in Florida, United States of America as an International Administrative Office.

On September 21, 2010 the Bank was authorized to open a representative office in Monterrey, México. On November 15, 2010 the Bank was authorized to open a representative office in Lima, Perú and most recently, on April 19, 2011 it was authorized to open a representative office in Bogotá, Colombia.

The corporate objective is to promote economic development of Latin American countries mainly through the promotion of foreign trade. In order to fulfill this objective, the corporation shall:

1. Establish a Latin American export credit system for goods and services, including direct export loans, that encompass financing of the pre-export and post-export stages;
2. Promote the development of a bank acceptance market, extended as a result of operations for the export of products from Latin America;
3. Promote the establishment of a Latin American Export Credit Insurance System and mechanisms that would complement the existing national systems.
4. Collaborate with Latin American countries in order to carry out market research, leading to the promotion of their exports of goods and services; and
5. In general, carry out all kinds of banking and/or financial business to promote development in Latin American countries.

The Corporation may also engage in activities that are different from the above described object, provided that they have shareholders' approval thereto, through a resolution adopted with the favorable votes of 50% plus one of all the common shares present or represented at a Shareholders Meeting called in order to grant such an authorization, which favorable vote must necessarily include the votes of three quarters (3/4) of the common issued and outstanding Class A shares.

In the development of the above, the corporation shall have, among others, the power to:

1. Grant loans and extend credit guaranteed by commercial documents, by credit instruments or by any other form of security, relating to the export of goods and services of any kind;
2. Own, hold, purchase, sell, withdraw, make, draw, accept, endorse, discount, guarantee and carry out any operation with promissory notes, bills of exchange, option certificates for the acquisition of shares and any other securities or credit instruments in any country, as well as to carry out foreign exchange operations;
3. Borrow and accept credits from any companies or banking and credit institutions, and to issue bonds, debentures, promissory notes and any other kind of obligations or instruments;
4. Act as an international financial agent;
5. Generally, carry out any kind of banking, securities and financial operations.

The list of powers mentioned above shall not be construed as a limitation or restriction of the powers of the corporation, but on the contrary, as additional and supplementary to the general powers and authorities granted to corporations by the laws of the Republic of Panama.

In the normal course of business, the Bank is engaged in operations with a large number of Class "A", Class "B" and Class "E" shareholders. All operations are carried out under business criteria and are subject to market terms and conditions. No Class "A" or "B" shareholder has a shareholding stake exceeding 3% of the total shares.