The Board of Directors has set up Committees in which the Board has delegated powers and duties, subject to the provisions of the Articles of Incorporation and the By-Laws.

Audit Committee
Herminio A. Blanco - Chairman
Gonzalo Menéndez Duque
José Alberto Garzón
Javier González Fraga
Risk Policy and Assessment Committee
Miguel Heras - Chairman
Gonzalo Menéndez Duque
Ricardo Manuel Arango
Herminio A. Blanco
Mario Covo
Roland Holst 
Compensation Committee
João Carlos de Nóbrega Pecego - Chairman
José Alberto Garzón
Javier González Fraga
Finance and Business Committee
Mario Covo - Chairman
Ricardo Manuel Arango
Miguel Heras
Roland Holst 
João Carlos de Nóbrega Pecego
Prevention and Compliance Committee
Ricardo Manuel Arango - Chairman
Miguel Heras
Executive Committee

Audit Committee

The Audit Committee (the "Committee") of Banco Latinoamericano de Comercio Exterior, S.A. (the "Bank") is a standing committee of the Board of Directors. The purpose of the Committee is to discharge certain duties established by applicable regulations and to assist the Board of Directors in fulfilling its oversight responsibilities for the financial reporting process, the integrity of the Bank’s financial statements, the system of internal control over financial reporting, the audit process and the process for monitoring compliance with legal and regulatory requirements, and with the Code of Ethics.

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Compensation Committee

The Compensation Committee (the "Committee") of Banco Latinoamericano of Comercio Exterior, S.A. (the "Bank") is a standing committee of the Board of Directors. The Committee is responsible for submitting recommendations to the Board of Directors ("The Board") on the nomination of Directors, benefits and compensation policies for Directors, Officers, Executives, and Employees, hiring and performance evaluation of the Chief Executive Officer ("CEO"), as well as the Bank’s human resources policies, corporate governance and Code of Ethics. The Committee is also responsible for proposing recommendations to the Board on matters related to the Bank’s operating model, processes, technology, and communications.

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Prevention and Compliance Committee

The Prevention and Compliance Committee became a standing committee of the Board.

The fundamental role of the Prevention and Compliance Committee is to provide support to the Board of Directors in complying with the laws and regulations related to the prevention of money laundering, financing of terrorism and the proliferation of weapons of mass destruction, the OFAC, the FATCA and the Common Reporting Standards ("CRS") of the Organization for Economic Co-Operation and Development ("OECD").

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Risk Policy and Assessment Committee

The Risk Policy and Assessment Committee (the "Committee") of Banco Latinoamericano de Comercio Exterior, S.A. (the "Bank") is a standing committee of the Board of Directors. The Committee is responsible for reviewing and recommending to the Board, for its approval, all policies related to prudent enterprise risk management. The Committee also reviews and assesses exposures to the risks facing the business, within the risk levels the Bank is willing to take according to the related policies, including the review and assessment of the quality and profile of the Bank's credit facilities, the exposure to market risks and the analysis of operational risks, which take into account the legal risks associated with the Bank's products.

The Committee performs its duties based on reports received regularly from Senior Management and through its interactions with the Enterprise Risk Management area and other members of the Bank's management. In performing its functions, the Committee shall apply criteria of reasonableness and materiality in the scope of its duties.

The Committee is not responsible for enforcing policies or compliance with legal limits or other restrictions that may apply. Such responsibilities fall to the Enterprise Risk Management function and Management of the Bank as a whole.

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Finance and Business Committee

The Finance and Business Committee (the "Committee") of the Foreign Trade Bank of Latin America, Inc. ("Bladex" or the "Bank") is a standing committee of the Board of Directors (the "Board"). The fundamental role of the Committee is to review and analyze all issues related to the development and execution of the Bank’s business and its financial management, including, among others, capital management, portfolio management (assets and liabilities), liquidity management, gap and funding management, tax related matters and, the financial performance of the Bank in general.

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