Banco Latinoamericano de Comercio Exterior, S. A. (BLX) 20-F 25 Apr 24 2023 FY Annual report (foreign) Financial data

Cover

Cover	12 Months Ended
	Dec. 31, 2023 shares
Document Information [Line Items]
Document Type	20-F
Document Registration Statement	false
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Document Shell Company Report	false
Entity File Number	1-11414
Entity Registrant Name	FOREIGN TRADE BANK OF LATIN AMERICA, INC.
Entity Address, Address Line Three	Torre V, Business Park
Entity Address, Address Line One	Avenida La Rotonda
Entity Address, Address Line Two	Urb. Costa del Este
Entity Address, Postal Zip Code	08730
Entity Address, City or Town	Panama City
Entity Address, Country	PA
Title of 12(b) Security	Class E Common Stock
Trading Symbol	BLX
Security Exchange Name	NYSE
Entity Common Stock, Shares Outstanding	36,539,861
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Document Accounting Standard	International Financial Reporting Standards
Entity Shell Company	false
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Entity Central Index Key	0000890541
Entity Incorporation, State or Country Code	PA
Business Contact
Document Information [Line Items]
Entity Address, Address Line Three	Torre V, Business Park
Entity Address, Address Line One	Avenida La Rotonda
Entity Address, Address Line Two	Urb. Costa del Este
Entity Address, Postal Zip Code	08730
Entity Address, City or Town	Panama City
Entity Address, Country	PA
Contact Personnel Name	Ana Graciela de Méndez
Contact Personnel Email Address	amendez@bladex.com
Shares of Class A Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding	6,342,189
Shares of Class B Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding	2,089,075
Shares of Class E Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding	28,108,597
Shares of Class F Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding	0

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2023
Auditor [Line Items]
Auditor Name	KPMG
Auditor Location	Panama City, Republic of Panama
Auditor Firm ID	1216

Consolidated statement of finan

Consolidated statement of financial position - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Assets
Cash and due from banks	$ 2,047,452	$ 1,241,586
Securities, net	1,022,131	1,023,632
Loans, net	7,220,520	6,760,434
Customers' liabilities under acceptances	261,428	163,345
Derivative financial instruments - assets	157,267	68,159
Equipment and leasehold improvements, net	16,794	17,282
Intangibles, net	2,605	2,104
Other assets	15,595	7,368
Total assets	10,743,792	9,283,910
Liabilities:
Demand deposits	510,195	233,757
Time deposits	3,897,954	2,956,959
Demand and time deposits excluding interest payable	4,408,149	3,190,716
Interest payable	42,876	14,670
Total deposits	4,451,025	3,205,386
Securities sold under repurchase agreements	310,197	300,498
Borrowings and debt, net	4,351,988	4,416,511
Interest payable	49,217	47,878
Lease liabilities	16,707	16,745
Acceptances outstanding	261,428	163,345
Derivative financial instruments - liabilities	40,613	33,761
Allowance for losses on loan commitments and financial guarantee contract	5,059	3,628
Other liabilities	53,734	26,811
Total liabilities	9,539,968	8,214,563
Equity:
Common stock	279,980	279,980
Treasury stock	(110,174)	(114,097)
Additional paid-in capital in excess of value assigned to common stock	122,046	120,498
Capital reserves	95,210	95,210
Regulatory reserves	136,019	136,019
Retained earnings	673,281	543,612
Other comprehensive income (loss)	7,462	8,125
Total equity	1,203,824	1,069,347
Total liabilities and equity	$ 10,743,792	$ 9,283,910

Consolidated statement of profi

Consolidated statement of profit or loss - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Interest income:
Deposits	$ 80,622	$ 18,836	$ 1,186
Securities	32,426	24,000	9,939
Loans	566,212	289,785	129,758
Total interest income	679,260	332,621	140,883
Interest expense:
Deposits	(217,042)	(66,044)	(12,846)
Securities sold under repurchase agreements	(9,232)	(7,340)	(956)
Borrowings and debt	(219,219)	(110,647)	(39,489)
Lease liabilities	(584)	(579)	(810)
Total interest expense	(446,077)	(184,610)	(54,101)
Net interest income	233,183	148,011	86,782
Other income (expense):
Fees and commissions, net	32,519	19,791	18,298
Loss on financial instruments, net	(45)	(1,410)	(1,296)
Other income, net	462	280	422
Total other income, net	32,936	18,661	17,424
Total revenues	266,119	166,672	104,206
Provision for credit losses	(27,463)	(19,521)	(2,328)
Gain on non-financial assets, net	0	0	742
Operating expenses:
Salaries and other employee expenses	(47,232)	(34,219)	(21,652)
Depreciation of equipment, improvements to leased property and investment property	(2,280)	(2,154)	(2,749)
Amortization of intangible assets	(814)	(561)	(742)
Other expenses	(22,172)	(18,177)	(14,780)
Total operating expenses	(72,498)	(55,111)	(39,923)
Segment profit (loss)	$ 166,158	$ 92,040	$ 62,697
Per share data:
Basic earnings per share (in dollars per share)	$ 4.55	$ 2.54	$ 1.62
Diluted earnings per share (in dollars per share)	$ 4.55	$ 2.54	$ 1.62
Weighted average basic shares (in shares)	36,481	36,304	38,796
Weighted average diluted shares (in shares)	36,481	36,304	38,796

Consolidated statement of compr

Consolidated statement of comprehensive income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of comprehensive income [abstract]
Profit for the year	$ 166,158	$ 92,040	$ 62,697
Items that are or may be reclassified subsequently to profit or loss:
Change in fair value on financial instruments, net of hedging	286	19,613	(12,252)
Reclassification of gains (losses) on financial instruments to profit or loss	(949)	60	48
Exchange difference in conversion of foreign currency operation	0	0	448
Other comprehensive income (loss)	(663)	19,673	(11,756)
Total comprehensive income for the year	$ 165,495	$ 111,713	$ 50,941

Consolidated statement of chang

Consolidated statement of changes in equity - USD ($) $ in Thousands	Total	Common stock	Treasury stock	Additional paid-in capital in excess of value assigned to common stock	Capital reserves	Regulatory reserves	Retained earnings	Other comprehensive income
Beginning balance at Dec. 31, 2020	$ 1,037,920	$ 279,980	$ (57,999)	$ 120,414	$ 95,210	$ 136,019	$ 464,088	$ 208
Profit for the year	62,697						62,697
Other comprehensive income	(11,756)							(11,756)
Issuance of restricted stock	0		1,391	(1,391)
Compensation cost - stock options and stock units plans	1,908			1,908
Exercised options and stock units vested	0		888	(888)
Repurchase of "Class E" common stock	(60,079)		(60,079)
Dividends declared	(38,900)						(38,900)
Ending balance at Dec. 31, 2021	991,790	279,980	(115,799)	120,043	95,210	136,019	487,885	(11,548)
Profit for the year	92,040						92,040
Other comprehensive income	19,673							19,673
Issuance of restricted stock	0		1,039	(1,039)
Compensation cost - stock options and stock units plans	2,157			2,157
Exercised options and stock units vested	0		663	(663)
Dividends declared	(36,313)						(36,313)
Ending balance at Dec. 31, 2022	1,069,347	279,980	(114,097)	120,498	95,210	136,019	543,612	8,125
Profit for the year	166,158						166,158
Other comprehensive income	(663)							(663)
Issuance of restricted stock	0		1,148	(1,148)
Compensation cost - stock options and stock units plans	5,471			5,471
Exercised options and stock units vested	0		2,775	(2,775)
Dividends declared	(36,489)						(36,489)
Ending balance at Dec. 31, 2023	$ 1,203,824	$ 279,980	$ (110,174)	$ 122,046	$ 95,210	$ 136,019	$ 673,281	$ 7,462

Consolidated statement of cash

Consolidated statement of cash flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities
Profit for the year	$ 166,158	$ 92,040	$ 62,697
Adjustments to reconcile profit for the year to net cash provided by (used in) operating activities:
Depreciation of equipment, improvements to leased property and investment property	2,280	2,154	2,749
Amortization of intangible assets	814	561	742
Gain on investment property - Right-of-use	0	0	(742)
Gain on remeasurement - Lease liability	(36)	0	0
Provision for credit losses	27,463	19,521	2,328
Unrealized gain on financial instruments at FVTPL	0	0	(227)
Realized gain on financial instruments at FVTPL	0	(510)	0
Net gain on financial instruments at FVOCI	0	0	(14)
Loss (gain) on sale of financial instruments at amortized cost	3,858	0	(333)
Compensation cost - share-based payment	5,471	2,157	1,908
Net changes in hedging position and foreign currency	37,894	719	(428)
Disposal of equipment and leasehold improvements	3	6	255
Derecognition of intangible assets	20	0	0
Interest income	(679,260)	(332,621)	(140,883)
Interest expense	446,077	184,610	54,101
Changes in operating assets and liabilities:
Pledged deposits	(9,734)	(8,599)	(24,248)
Loans	(406,064)	(1,053,888)	(821,531)
Other assets	(7,376)	1,709	(1,705)
Due to depositors	1,217,433	154,488	(102,672)
Other liabilities	26,691	12,284	(4,677)
Cash flows provided by (used in) operating activities	831,692	(925,369)	(972,680)
Interest received	642,862	296,131	154,293
Interest paid	(412,440)	(140,415)	(53,327)
Net cash provided by (used in) operating activities	1,062,114	(769,653)	(871,714)
Cash flows from investing activities:
Acquisition of equipment and leasehold improvements	(761)	(1,651)	(453)
Acquisition of intangible assets	(1,335)	(1,070)	(353)
Proceeds from the sale of securities at amortized cost	59,432	0	16,369
Proceeds from the sale of securities at FVOCI	0	0	33,492
Proceeds from the sale of loans to FVTPL	0	49,681	0
Proceeds from the redemption of securities at amortized cost	298,429	132,524	123,302
Proceeds from the redemption of securities at FVOCI	78,600	112,840	10,000
Purchase of securities at amortized cost	(435,321)	(458,983)	(618,440)
Purchase of securities at FVOCI	(11,811)	0	(9,999)
Net cash used in investing activities	(12,767)	(166,659)	(446,082)
Cash flows from financing activities:
Increase (decrease) in securities sold under repurchase agreements	9,699	(127,000)	416,835
Net (decrease) increase in short-term borrowings and debt	(500,650)	579,065	1,196,710
Proceeds from long-term borrowings and debt	496,342	1,038,110	266,640
Payments of long-term borrowings and debt	(221,306)	(536,792)	(97,520)
Payments of lease liabilities	(1,032)	(995)	(1,227)
Dividends paid	(36,268)	(36,141)	(38,570)
Repurchase of common stock	0	0	(60,079)
Net cash (used in) provided by financing activities	(253,215)	916,247	1,682,789
Increase (decrease) net in cash and cash equivalents	796,132	(20,065)	364,993
Cash and cash equivalents at beginning of the year	1,190,936	1,211,001	846,008
Cash and cash equivalents at end of the year	$ 1,987,068	$ 1,190,936	$ 1,211,001

Corporate information

Corporate information	12 Months Ended
	Dec. 31, 2023
Corporate information
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 established pursuant to a May 1975 proposal presented to the Assembly of Governors of Central Banks in the Region, 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% owned by Bladex Head Office. - BLX Soluciones, S.A. de C.V., SOFOM, E.N.R. (“BLX Soluciones”) was incorporated under the laws of Mexico on June 13, 2014 and suspended its operations on July 28, 2021. The company specializes in offering financial leasing and other financial products such as loans and factoring. BLX Soluciones is 99.9% owned by Bladex Head Office, and Bladex Development Corp. owns the remaining 0.1%. 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. These consolidated financial statements were authorized for issue by the Board of Directors on February 20 2024.

Basis of preparation of the con

Basis of preparation of the consolidated financial statements	12 Months Ended
	Dec. 31, 2023
Basis of preparation of the consolidated financial statements
Basis of preparation of the consolidated financial statements	2.1 Statement of compliance The consolidated financial statements of Banco Latinoamericano de Comercio Exterior, S. A. and its subsidiaries have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”). 2.2 Functional and presentation currency 2.3 Basis of measurement The consolidated financial statements have been prepared on the historical cost basis, except for the following items: Items Basis of measurement Securities and other financial instruments at FVOCI and FVTPL Fair value Financial assets and financial liabilities designated as hedged items in qualifying fair value hedging relationships At amortized cost adjusted for the risk components associated to the hedging relationship Investment property Fair value Share-based payments Fair value 2.4 Basis of consolidation The consolidated financial statements comprise the financial statements of Bladex and its subsidiaries. Bladex consolidates its subsidiaries from the date on which control is transferred to the Bank until the date on which control ceases. All intercompany balances and transactions have been eliminated on consolidation and, when necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies in line with the Bank’s accounting policies. A change in the ownership interest of a subsidiary, without a loss of control, is accounted for as an equity transaction. If the Bank loses control over a subsidiary, it derecognizes the related assets, liabilities and other components of equity, while any resulting gain or loss is recognized in profit or loss. Any investment retained in the former subsidiary is recognized at fair value. The Bank controls an investee if, and only if, the Bank has the following elements: - Power over the investee. Existing rights that give it the current ability to direct the relevant activities of the investee. - Exposure or rights to variable returns from its involvement with the investee. - The ability to use its power over the investee to affect its returns. Generally, there is a presumption that a majority of voting rights results in control. To support this presumption and when the Bank has less than the majority of the voting or similar rights of an investee, the Bank considers all relevant facts and circumstances in assessing whether it has power over an investee, including: - The contractual arrangement(s) with the other vote holders of the investee. - Rights arising from other contractual arrangements. - The Bank’s voting rights and potential voting rights. 2.4 Basis of consolidation (continued)

Material accounting policies

Material accounting policies	12 Months Ended
	Dec. 31, 2023
Significant accounting policies
Material accounting policies	Material accounting policies applied consistently by the Bank to all years presented in these consolidated financial statements, are presented as follows. 3.1 Foreign currency Foreign currency transactions The Bank determines the functional currency. For each subsidiary, the items included in the consolidated financial statements are measured using the functional currency of the Bank. Transactions and balances Assets and liabilities of foreign subsidiaries, whose local currency is considered their functional currency, are translated into the reporting currency, US dollars, using month-end spot foreign exchange rates. The Bank uses monthly-average exchange rates to translate revenues and expenses from local functional currency into presentation currency. The effects of those translation adjustments are reported as a component of other comprehensive income (loss) in the consolidated statement of changes in equity. Non-monetary assets and liabilities that are measured at fair value in a foreign currency are translated into the functional currency at the exchange rate effective at the date on which fair value is determined. Non-monetary items that are measured based on historical cost in a foreign currency are translated using the exchange rate effective at the date of the transaction. Transactions whose terms are denominated in a currency other than the functional currency, including transactions denominated in local currency of foreign subsidiaries whose functional currency is the US dollar, are recorded at the exchange rate prevailing at the date of the transaction. Assets and liabilities in foreign currency are translated into US dollars using month-end spot foreign exchange rates. The effects of translation of monetary assets and liabilities into US d ollar are included in current year’s earnings in the line item "gain (loss) on financial instruments, net" in the consolidated statement of profit or loss, except for those correspondin g to m onetary items that are designated as hedge items in qualifying cash flow or net investment hedges recognized in other comprehensive income until maturity or sale, at which time the carrying amount is reclassified to profit or loss, except for the carrying amount of equity instruments designated to be measured at fair value through other comprehensive income. Tax charges and credits attributable to exchange differences on those monetary items are also recorded in accumulated other comprehensive income, if applicable. When a foreign operation is disposed of in its entirety or partially such that control is lost, the cumulative amount in the translation reserve related to that foreign operation is reclassified to profit or loss as part of the gain or loss on disposal. 3.2 Interest Effective interest rate Interest income and expense are recognized in profit or loss using the effective interest method. The ‘effective interest rate’ is the rate that exactly discounts estimated future cash payments or receipts through the expected life of the financial instrument measured at amortized cost. 3.2 Interest (continued) When calculating the effective interest rate for financial instruments other than purchased or originated credit-impaired assets, the Bank estimates future cash flows considering all contractual terms of the financial instrument, but not the expected credit loss (ECL). For purchased or originated credit-impaired financial assets, a credit-adjusted effective interest rate is calculated using estimated future cash flows including ECL. The calculation of the effective interest rate includes any amount directly attributable to the transaction such as origination fees (paid or received), premiums, discounts, and transaction costs. Amortized cost and gross carrying amount The ‘amortized cost’ of a financial asset or financial liability is the amount at which the financial asset or financial liability is measured on initial recognition minus the principal repayments, plus or minus the cumulative amortization using the effective interest method of any difference between that initial amount and the maturity amount and, for financial assets, adjusted for any expected credit loss allowance. The gross carrying amount of a financial asset is the amortized cost of a financial asset before adjusting for any expected credit loss allowance. Methodology for calculation of interest income and expense The effective interest rate is calculated on initial recognition for financial instruments measured at either amortized cost or fair value through other comprehensive income. In calculating interest income and expense, the effective interest rate is applied to the gross book balance of the financial instrument, when the asset is not credit-impaired, or to the amortized cost of the liability. The effective interest rate is revised as a result of periodic re-estimation of cash flows of floating-rate instruments to reflect movements in market interest rates. For financial assets that have become credit-impaired subsequent to initial recognition, interest income is calculated by applying the effective interest rate to the amortized cost of the financial asset. If the asset is no longer credit-impaired, the interest income calculation returns to the gross basis. For financial assets that were credit-impaired on initial recognition, interest income is calculated by applying the credit-adjusted effective interest rate to the amortized cost of the asset. The calculation of interest income does not return to the gross basis, even when it shows an improvement in the credit risk of the financial asset. Presentation Interest income and expense calculated using the effective interest rate presented in the consolidated statement of profit or loss include: - Interest on financial assets and financial liabilities measured at amortized cost. - Interest on securities measured at FVOCI. - Interest expense on lease liabilities. - The effective portion of the variability in interest flows from the hedge instruments, in the same period as the cash flows from the hedged item affect interest income or expense. 3.3 Fees and commissions Fees that are integral to the effective interest rate on a financial asset or financial liability are described in Note 3.2. Fees and commissions are determined based on considerations specified in a contract with the client. The Bank recognizes such income when control over the service is transferred to a customer. 3.3 Fees and commissions (continued) The following table describes the services, other than financial intermediation, from which the B ank generates its income: Type of services Nature of performance obligations Letters of credit Issuance Guarantee to honor the stipulated amount agreed to in the terms and conditions entered with the customer, upon presentation of required documentation. Negotiation Review of the shipping documents, by the beneficiary, upon presentation and acceptance of payment on demand or on the day the reimbursement is made by the designated bank. Acceptance Commitment issued to the beneficiary to pay to a supplier in a future date, once all the shipping documents have been reviewed as to compliance with the terms and conditions of the letter of credit. Confirmation Commitment issued to the issuer bank and the beneficiary to honor or negotiate shipping documents. Amendment A request to amend the original letter of credit on behalf of the beneficiary modifying the original terms and conditions. Syndications Structuring Advise to the borrower by structuring the terms and conditions of a credit facility and coordinating among the lenders’ and the borrowers’ legal counsel all legal aspects relating to the credit facility, among others. Other services Other Assignment of rights, transferability, reimbursements, payments, discrepancies, courier charges and transfers. Commitments Firm commitments to provide future credits operations which may be subject to compliance and acceptance of certain previously agreed terms and conditions and the signing of the contract between the parties. 3.4 Financial assets and liabilities A. Date of recognition and initial measurement The Bank initially recognizes loans, deposits, securities and financial liabilities on settlement date. Other financial instruments are recognized on trade date, date on which the Bank becomes a party to the contractual provisions of the instrument. Recognized financial assets and financial liabilities are initially measured at fair value. Transaction costs that are directly attributable to the acquisition or issue of financial assets and liabilities, not measured at fair value through profit or loss (FVTPL), are added to or deducted from the fair value of the financial assets or liabilities, as appropriate, on initial recognition. Transaction costs directly attributable to the acquisition of financial assets or financial liabilities at FVTPL are recognized immediately in profit or loss. Financial assets and liabilities designated as hedged items in qualifying fair value hedging relationships are measured at amortized cost adjusted for the hedge risk components associated to the hedging relationship. 3.4 Financial assets and liabilities (continued) B. Classification of financial assets The Bank classifies its financial assets as subsequently measured at amortized cost, fair value through other comprehensive income or fair value through profit or loss based on the Ban k’s business model for managing the financial assets and the contractual cash flow characteristics of these financial assets. A financial asset is measured at amortized cost if it meets both of the following conditions and is not designated as at FVTPL: - The asset is held within a business model whose objective is to hold assets to collect contractual cash flows; and - The contractual terms of the financial asset give rise on specified dates to cash flows that are solely payment of principal and interest (SPPI). A financial asset is measured at fair value through other comprehensive income (FVOCI) only if it meets both of the following conditions and is not designated as at FVTPL: - The asset is held within a business model whose objective is achieved by both collecting contractual cash flows and selling financial assets; and - The contractual terms of the financial asset give rise on specified dates to cash flows that are SPPI. Unrealized gains or losses for financial assets at FVOCI are reported as net increases or decreases in other comprehensive income until realized. Gains or losses realized on sale of financial asset are included in the line item gain (loss) on financial instruments, net. A financial instrument will be classified at FVTPL as long as, the characteristics of its contractual cash flows or according to its business model, will result on classification it at amortized cost or at FVOCI. The rest of financial assets are classified at FVTPL, when the assessment of the financial instrument’s contractual terms and the cash flows derived from it determine that the SPPI criteria is not met for its classification at amortized cost or at FVOCI. At initial recognition, the following irrevocable election / designation for measurement of a financial asset on an asset-by-asset basis may be made: - It may irrevocably e lect to present subsequent changes in fair value of an equity instrument that is neither held for trading nor contingent consideration recognized by an acquirer in a business combination, and - It may irrevocably designate a debt instrument that meets the amortized cost or at FVOCI criteria as measured at FVTPL if doing so eliminates or significantly reduces an accounting mismatch. For an equity instrument designated as measured at FVOCI, the cumulative gain or loss previously recognized in other comprehensive income is not subsequently reclassified to profit or loss, but is transferred within equity to retained earnings. C. Classification of financial liabilities The Bank classifies all financial liabilities as subsequently measured at amortized cost, except for those liabilities designated as hedged items in qualifying fair value hedging relationships, which are measured a t amortized cost adjusted for the hedge risk components associated to the hedging relationship. 3.4 Financial assets and liabilities (continued) D. Business model assessment The Bank assesses the objective of the business model at a level that reflects how the financial asset groups are managed to obtain a particular business objective and how information on those assets is provided to Management. The assessment considers the following: - The Bank’s policies and objectives for the portfolio and the operation of those policies in practice. In particular, if management’s strategy focuses on earning contractual interest revenue, maintaining a particular interest rate profile, matching the duration of the financial assets to the duration of the liabilities that are funding those assets or realizing cash flows through the sale of the assets; - How the performance of the portfolio is evaluated and reported to Bank’s management; - The risks that affect the performance of the business model and how those risks are managed; - The frequency, volume and timing of sales in prior periods, the reason for such sales and its expectations about future sales activity. However, information about sales activity is not considered in isolation, but as part of an overall assessment of how the Bank’s stated objective for managing the financial assets is achieved and how cash flows are realized. An assessment of the business model for managing financial assets is fundamental to the classification of a financial asset. The business model does not depend on management’s intentions for an individual instrument; therefore, assessment of the business model is done at a higher level of aggregation rather than instrument by instrument. At the initial recognition of a financial asset, it is determined whether the newly recognized financial asset is part of an existing business model or whether it reflects the start of a new business model. As of December 31, 2023, the Bank has adopted two new business models for the loan classification, which consist on the origination and acquisition of loans for trading and loans at fair value with changes in other comprehensive income. - Loans for trading: Loans that are originated or purchased with the objective of generating cash flows through their sale in the short term. - Loans at fair value through other comprehensive income: Loans whose objective is to generate cash flows through the collection of principal and interest and the sale of such assets, with fair value being a key element in the management of these assets. Additionally, the characteristics of its contractual flows substantially represent a 'basic financing agreement'. E. Assessment whether contractual cash flows are solely payments of principal and interest (SPPI) For the purposes of this assessment, ‘principal’ is defined as the fair value of the financial asset on initial recognition. ‘Interest’ is defined as consideration for the time value of money and for the credit risk associated with the principal amount outstanding at a point in time and for other basic lending risks and costs as well as profit margin. Contractual cash flows that are SPPI are consistent with a basic credit agreement. Contractual terms that originate risk exposure or volatility in the contractual cash flows that are not related to a basic credit agreement, such as exposure to changes in equity prices or commodity prices, do not give rise to contractual cash flows that are SPPI. An originated or an acquired financial asset can be a basic credit arrangement irrespective of whether it is a credit in its legal form. In assessing whether the contractual cash flows are SPPI, the Bank considers the contractual terms of the instrument. This includes assessing whether the financial asset contains a contractual term that could change the timing or amount of contractual cash flows, so that it would not meet this condition. In making the assessment, the Bank considers the following: 3.4 Financial assets and liabilities (continued) - Contingent events that would change the amount and timing of cash flows; - Leverage features; - Prepayment and extension terms; - Terms that limit the Bank´s claim to cash flows from specified assets (e.g. non-recourse asset arrangements); and features that modify consideration of the time value of money (e.g. periodical reset of interest rates). The Bank measures its financial assets and liabilities at FVTPL, when the assessment of the financial instrument’s contractual terms and the cash flows derived from it determines that the SPPI criteria is not met for its classification at amortized cost or at FVOCI. F. Reclassification If the business model under which the Bank holds financial assets changes, the financial assets affected are reclassified. The classification and measurement requirements related to the new category apply prospectively from the first day of the first reporting period following the change in business model that results in reclassifying the Bank’s financial assets. During 2023 the Bank adopted two new business models for the loan portfolio, which did not lead to reclassifications. For 2022, no new business models were identified. Changes in contractual cash flows are considered under the accounting policies on derecognition and modification of financial assets and liabilities. G. Derecognition of financial assets and liabilities Financial assets A financial asset (or, where applicable, a part of a financial asset or part of a group of similar financial assets) is derecognized when: - The rights to receive cash flows from the asset have expired. - The Bank has transferred its rights to receive cash flows from the asset and either has transferred substantially all risks and rewards of the asset or has neither transferred nor retained substantially all the risks and rewards of the asset but has transferred control of the asset. - The Bank retains the right to receive cash flows from the asset but has assumed an obligation to pay the received cash flows in full without significant delay to a third party under a ‘pass–through’ arrangement. - When the Bank has transferred its rights to receive cash flows from an asset or has entered into a pass–through arrangement and has neither transferred nor retained substantially all the risks and rewards of the asset nor transferred control of the asset, the asset is recognized to the extent of the Bank’s continuing involvement in the asset. In that case, the Bank also recognizes an associated liability. The transferred asset and the associated liability are measured on a basis that reflects the rights and obligations that the Bank has retained. The Bank assesses the transfer of risks and benefits by comparing the entity’s exposure, before and after the transfer, with the variation in the amounts and timing of the net cash flows of the transferred asset; additionally, the continued participation in a transferred financial asset is measured by the lowest value between the original carrying amount of the asset and the maximum amount of the consideration that the Bank could be required to pay. In derecognizing the financial asset, the allowance for losses is deducted from the gross carrying amount of the financial asset; any accumulated gain or loss that has been recognized in other comprehensive income is recognized in profit or loss. 3.4 Financial assets and liabilities (continued) Any accumulated gain or loss recognized in other comprehensive income regarding equity instruments designated at fair value through other comprehensive income is not recognized in the consolidated statement of profit or loss. Any interest in the transfer of a financial assets that qualifies for derecognition, booked or held by the Bank is recognized as a separate asset or liability. The Bank enters into transactions whereby it transfers assets recognized on its consolidated statement of financial position but retains either all or substantially all the risks and rewards of the transferred assets or a portion of them. In such cases, the transferred assets are not derecognized. Examples of such transactions are securities and transactions under repurchase agreements. Financial liabilities A financial liability is derecognized when the obligation under the liability is extinguished, when the obligation specified in the contract is discharged or cancelled or expires. Where an existing financial liability is replaced by another from the same counterparty on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as an extinguishment of the original liability and the recognition of a new liability. The difference between the carrying value of the original financial liability and the consideration paid, including any non-cash assets transferred or liabilities assumed, is recognized in profit or loss. H. Modified financial asset or liability Financial assets A modified financial asset is an instrument whose borrower is experiencing financial difficulties and the renegotiation constitutes a concession to the borrower. A concession may include modification of terms such as an extension of maturity date, reduction in the stated interest rate, rescheduling of future cash flows, and reduction in the face amount of the financial asset or accrued interest, among others. When a financial asset is modified, the Bank assesses whether this modification results in derecognition. In accordance with the Bank’s policies a modification results in derecognition when it gives rise to substantially different terms. To determine if the modified terms are substantially different from the original contractual terms the Bank considers the following: - Qualitative factors, such as contractual cash flows after modification that are no longer SPPI, change in currency or change of counterparty, the extent of change in interest rates, maturity or covenants. If these do not clearly indicate a substantial modification, then; - A quantitative assessment is performed to compare the present value of the remaining contractual cash flows according to the original terms with the contractual cash flows of the revised terms; both amounts discounted at the original effective interest rate. When the contractual terms of a financial asset are modified, and the modification does not result in derecognition, the Bank determines if the financial asset’s credit risk has increased significantly since initial recognition by comparing: - The remaining lifetime probability of default estimated based on data at initial recognition and the original contractual terms; with - The remaining lifetime probability of default at the reporting date based on the modified terms. 3.4 Financial assets and liabilities (continued) In the renegotiation or modification of the contractual cash flows of the financial asset, the Bank shall: - Continue with its current accounting treatment for the existing financial asset that has been modified. - Record a modification gain or loss by recalculating the gross carrying amount of the financial asset as the present value of the renegotiated or modified contractual cash flows, discounted at the financial asset’s original effective interest rate. - Assess whether there has been a significant increase in the credit risk of the financial instrument, by comparing the risk of a default occurring at the reporting date (based on the modified contractual terms) and the risk of a default occurring at initial recognition (based on the original, unmodified contractual terms). The financial asset that is modified is not automatically considered to have a lower credit risk. The assessment should consider credit risk over the expected life of the asset based on historical and forward-looking information, including information about the circumstances that led to the modification. Evidence that the criteria for the recognition of lifetime expected credit losses are subsequently no longer met may include a history of up-to-date and timely payment in subsequent periods. If the credit quality of the financial asset no longer exhibits a credit impairment, it will return to a 12-month expected credit loss measurement. - Make the appropriate quantitative and qualitative disclosures required for renegotiated or modified assets to reflect the nature and the effect of such modifications (including the effect on the measurement of expected credit losses) and how the Bank monitors these financial assets that have been modified. When the modification of a financial asset results in the derecognition of an existing financial asset and the subsequent recognition of a modified financial asset, the modified asset is considered a new financial asset, at the time of derecognition, the reserve for expected credit losses (ECL) is recalculated to determine the net carrying value of the asset at that date. The new financial asset will have an allowance for losses measured based on 12-month for expected credit losses except for rare cases where the new financial asset is considered to be impaired, because a high risk of default remains, which has not been reduced in the modification. The Bank monitors the credit risk of the modified or renegotiated financial assets by assessing qualitative and quantitative information, considering them in the same way as customers with expired status under new terms. Financial Liabilities The Bank derecognizes a financial liability when its terms are modified, and the cash flows of the modified liability are substantially different. The Bank considers that the terms of a modified financial liability are substantially different if the present value of the cash flows under the new terms, including any fees paid net of any fees received, discounted at the original effective interest rate presents a difference greater than 10% of the discounted present value of the cash flows still remaining from the original financial liability. In this case, a new financial liability based on the modified terms is recognized at fair value. The difference between the carrying amount of the financial liability derecognized, and the consideration paid, is recognized in profit or loss. Consideration paid includes non-financial assets transferred, if any, and the assumption of liabilities, including the new modified financial liability. If the modification of a financial liability is not accounted for as derecognition, then the amortized cost of the liability is recalculated by discounting the modified cash flows at the original effective interest rate and the resulting gain or loss is recognized in profit or loss. For floating-rate financial liabilities, the original effective interest rate used to calculate the modification gain or loss is adjusted to reflect current market terms at the time of the modification. Any costs and fees incurred are recognized as an adjustment to the carrying amount of the liability and amortized over the remaining term of the modified financial liability by re-computing the effective interest rate on the instrument. 3.4 Financial assets and liabilities (continued) I. Offsetting Financial assets and financial liabilities are offset and the net amount presented in the consolidated statement of financial position when, and only when, the Bank currently has a legally enforceable right to set off the amounts and it intends either to settle them on a net basis or to realize the asset and settle the liability simultaneously. Generally, this is not the case with a contractual compensation agreement; therefore, related assets and liabilities are presented with their gross amounts in the consolidated statement of financial position. Income and expenses are presented on a net basis only when permitted under IFRS Standards, or for gains and losses arising from a group of similar transactions. J. Fair value measurement Fair value of an instrument is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction, between market participants at the measurement date or, in its absence, the most advantageous market to which the Bank has access at that date. The fair value of a liability reflects its non-performance risk. When one is available, the Bank measures the fair value of an instrument using the quoted price in an active market for that instrument. A market is regarded as “active” if transactions for the asset or liability take place with sufficient frequency and volume to provide pricing information on an ongoing basis. If there is no quoted price in an active market, then the Bank uses valuation techniques that maximize the use of relevant observable inputs and minimize the use of unobservable inputs. The chosen valuation technique incorporates all of the factors that market participants would take into account in pricing a transaction. The best evidence of the fair value of a financial instrument on initial recognition is normally the transaction price – i.e. the fair value of the consideration given or received. The Bank recognizes transfers between levels of the fair value hierarchy as of the end of the reporting period during which the change has occurred. K. Allowances for losses on financial instruments The allowances for losses on financial instruments are provided for losses derived from the expected credit losses (“ECL”), inherent in the loan portfolio, investment securities and loan commitments and financial guarantee contracts, using the reserve methodology to determine expected credit losses. Additions to the allowance for expected credit losses for financial instruments are recognized in profit or loss or in other comprehensive income (loss) depending on classification of the instrument. Incurred credit losses are deducted from the allowance, and subsequent recoveries are added. The allowance is also decreased by reversals of the allowance back to profit or loss. The allowance for expected credit losses for financial instruments at amortized cost is reported as a deduction of financial assets and, the allowance for expected credit losses on loan commitments and financial guarantee contracts, such as letters of credit and guarantees, is presented as a liability. The Bank assigns to each exposure a risk rating which is defined using quantitative and qualitative factors that are indicative of the risk of loss. This rating is considered for purposes of identifying significant increases in credit risk. These factors may vary depending on the nature of the exposure and the type of borrower. Each exposure will be assigned to a risk rating at the time of initial recognition based on the information available about the customer and the country. Exposures will be subject to continuous monitoring, which may result in the change of an exposure to a different risk rating. The analysis of customer risk considers financial and operational factors, sector / industry, market and managerial, as well as the ratings of international rating agencies, quality of information and other elements of an objective nature, including projections on indicators. 3.4 Financial assets and liabilities (continued) For the assignment of customer credit ratings, quantitative and qualitative criteria are applied, depending on whether the counterpart corresponds to a financial entity or a corporation, and broken down into several factors, which receive a weighting within the customer's rating. In the analysis of the country risk, for the establishment of the rating, the assessment of quantitative and qualitative factors specific to the country under analysis is considered, as well as the regional and global macroeconomic environment, considering projections about the future performance of the country´s environment. In general, there are three groups of quantitative factors that determine the analysis and that give rise to a quantitative rating of the country (changes in main economic indicators; external payment capacity and access to capital; performance of domestic credit and the financial system), which is later analyzed within the social-political framework of the country (qualitative factors) and may consider added deterioration for the determination of the final country rating. i) Measurement of expected credit losses Calculation of the allowance for expected credit losses for financial instruments is made based on the risk rating resulting from the Bank's internal model and considers, generally (certa

Accounting policies not yet eff

Accounting policies not yet effective at the reporting date	12 Months Ended
	Dec. 31, 2023
Disclosure of initial application of standards or interpretations [abstract]
Accounting policies not yet effective at the reporting date	The following amendments and modifications have not been applied early by the Bank and its' adoption will not have a significant effect on the reporting entity's financial position, results of operations or on their disclosures: – Classification of Liabilities as Current or Non-current (Amendments to IAS 1): The amendments clarify that the classification of liabilities as current and non-current interacts with an unconditional right to defer settlement relative to having the discretion to refinance or extend an obligation. A clarification of liquidation is included. The amendments are effective for annual periods beginning on or after January 1, 2024. – Lease Liability in a Sale and Leaseback (Amendments to IFRS 16): The amendments clarify how a seller-lessee accounts for variable lease payments arising in a sale and leaseback transaction. The amendments introduce a new accounting model for variable payments and will require seller-lessees to reassess and potentially restate sale-leaseback transactions. The amendments are effective for annual periods beginning on or after January 1, 2024. – Supplier financing arrangements - IFRS 7 : The amendments introduce two new disclosure objectives, one in IAS 7 and another in IFRS 7, for a company to provide information about its financing arrangements with suppliers that allows users (investors ) evaluate the effects of these agreements on the company's liabilities and cash flows, as well as the company's exposure to liquidity risk. The amendments are effective for annual periods beginning on or after January 1, 2024. – Lack of Exchangeability - Amendments to IAS 21 : The amendments require entities to apply a consistent approach to determining whether one currency is exchangeable for another and the spot exchange rate to use when it is not. When an entity cannot obtain the exchange rate from one currency to another from its official or market data sources, it shall estimate the spot exchange rate on that date. The amendments are effective for annual periods beginning on or after January 1, 2025.

Financial risk review

Financial risk review	12 Months Ended
	Dec. 31, 2023
Disclosure of credit risk exposure [abstract]
Financial risk review	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. Unless specifically indicated, for financial assets the amounts in the table represent the outstanding gross balances. For loan commitments and financial guarantee contracts, the amounts in the table represent the amounts committed or guaranteed, respectively. Explanation of the terms ‘Stage 1’, ‘Stage 2’ and ‘Stage 3’ is included in Note 3.4 (K). Loans at amortized cost, outstanding balance December 31, 2023 PD Ranges Stage 1 Stage 2 Stage 3 Total Grades 1 - 4 0.03 - 0.74 2,893,562 — — 2,893,562 Grades 5 - 6 0.75 - 3.80 3,680,969 237,878 — 3,918,847 Grades 7 - 8 3.81 - 34.51 303,445 69,606 — 373,051 Grades 9 - 10 34.52 - 100 — — 10,107 10,107 6,877,976 307,484 10,107 7,195,567 Loss allowance (34,778) (17,734) (6,898) (59,410) Total 6,843,198 289,750 3,209 7,136,157 December 31, 2022 PD Ranges Stage 1 Stage 2 Stage 3 Total Grades 1 - 4 0.03 - 0.74 2,864,686 — — 2,864,686 Grades 5 - 6 0.75 - 3.80 3,645,901 50,625 — 3,696,526 Grades 7 - 8 3.81 - 34.51 123,603 48,098 20,000 191,701 Grades 9 - 10 34.52 - 100 — — 10,107 10,107 6,634,190 98,723 30,107 6,763,020 Loss allowance (28,589) (5,050) (21,561) (55,200) Total 6,605,601 93,673 8,546 6,707,820 A. Credit risk (continued) Loan commitments, financial guarantees issued and customers’ liabilities under acceptances December 31, 2023 12-month PD Stage 1 Stage 2 Stage 3 Total Commitments and financial guarantees issued Grades 1 - 4 0.03 - 0.74 457,901 — — 457,901 Grades 5 - 6 0.75 - 3.80 416,786 24,996 — 441,782 Grades 7 - 8 3.81 - 34.51 160,473 3,550 — 164,023 1,035,160 28,546 — 1,063,706 Customers' liabilities under acceptances Grades 1 - 4 0.03 - 0.74 163,438 — — 163,438 Grades 5 - 6 0.75 - 3.80 2,009 — — 2,009 Grades 7 - 8 3.81 - 34.51 95,981 — — 95,981 261,428 — — 261,428 1,296,588 28,546 — 1,325,134 Loss allowance (3,905) (1,154) — (5,059) Total 1,292,683 27,392 — 1,320,075 December 31, 2022 12-month PD Stage 1 Stage 2 Stage 3 Total Commitments and financial guarantees issued Grades 1 - 4 0.03 - 0.74 302,260 — — 302,260 Grades 5 - 6 0.75 - 3.80 279,550 1,700 — 281,250 Grades 7 - 8 3.81 - 34.51 195,864 — — 195,864 777,674 1,700 — 779,374 Customers' liabilities under acceptances Grades 1 - 4 0.03 - 0.74 34,258 — — 34,258 Grades 5 - 6 0.75 - 3.80 19,782 — — 19,782 Grades 7 - 8 3.81 - 34.51 109,305 — — 109,305 163,345 — — 163,345 941,019 1,700 — 942,719 Loss allowance (3,605) (23) — (3,628) Total 937,414 1,677 — 939,091 A. Credit risk (continued) Securities at amortized cost December 31, 2023 12-month DP Stage 1 Stage 2 Stage 3 Total Grades 1 - 4 0.03 - 0.74 913,524 — — 913,524 Grades 5 - 6 0.75 - 3.80 57,674 28,346 — 86,020 971,198 28,346 — 999,544 Loss allowance (1,230) (402) — (1,632) Total 969,968 27,944 — 997,912 December 31, 2022 12-month PD Stage 1 Stage 2 Stage 3 Total Grades 1 - 4 0.03 - 0.74 736,139 — — 736,139 Grades 5 - 6 0.75 - 3.80 154,248 46,589 — 200,837 Grades 7 - 8 3.81 - 34.51 — — 4,995 4,995 890,387 46,589 4,995 941,971 Loss allowance (2,170) (1,779) (4,002) (7,951) Total 888,217 44,810 993 934,020 Securities at FVOCI December 31, 2023 12-month PD Stage 1 Stage 2 Stage 3 Total Grades 1 - 4 0.03 - 0.74 11,824 — — 11,824 11,824 — — 11,824 Loss allowance (1) — — (1) Total 11,823 — — 11,823 December 31, 2022 12-month PD Stage 1 Stage 2 Stage 3 Total Grades 1 - 4 0.03 - 0.74 77,972 — — 77,972 77,972 — — 77,972 Loss allowance (10) — — (10) Total 77,962 — — 77,962 A. Credit risk (continued) The following table presents information of the current and past due balances of loans at amortized cost in stages 1, 2 and 3: December 31, 2023 Stage 1 Stage 2 Stage 3 Total Current 6,873,737 311,723 — 7,185,460 Past due — — 10,107 10,107 Total 6,873,737 311,723 10,107 7,195,567 December 31, 2022 Stage 1 Stage 2 Stage 3 Total Current 6,634,190 98,723 — 6,732,913 Defaulters — — 20,000 20,000 Past due — — 10,107 10,107 Total 6,634,190 98,723 30,107 6,763,020 The following table presents an analysis of counterparty credit exposures arising from derivative transactions. The Bank's derivative fair values are generally secured by cash. December 31, 2023 Notional value Derivative Derivative Interest rate swaps 987,394 11,358 (790) Cross-currency swaps 1,678,042 145,909 (39,823) Total 2,665,436 157,267 (40,613) December 31, 2022 Notional value Derivative Derivative Interest rate swaps 368,711 483 (544) Cross-currency swaps 1,175,570 45,806 (33,217) Foreign exchange forwards 189,173 21,870 — Total 1,733,454 68,159 (33,761) A. Credit risk (continued) ii. Collateral and other credit enhancements The amount and type of collateral required depends on an assessment of the credit risk of the counterparty. Guidelines are in place covering the acceptability and valuation of each type of collateral. Derivatives and repurchase agreements In the ordinary course of business, the Bank enters into derivative financial instrument transactions and securities sold under repurchase agreements under industry standard agreements. Depending on the collateral requirements stated in the contracts, the Bank and counterparties can receive or deliver collateral based on the fair value of the financial instruments transacted between parties. Collateral typically consists of pledged cash deposits and securities. The master netting agreements include clauses that, in the event of default, provide for close-out netting, which allows all positions with the defaulting counterparty to be terminated and net settled with a single payment amount. The International Swaps and Derivatives Association master agreement (“ISDA”) and similar master netting arrangements do not meet the criteria for offsetting in the consolidated statement of financial position. This is because they create for the parties to the agreement a right of set-off of recognized amounts that is enforceable only following an event of default, insolvency or bankruptcy of the Bank or the counterparties or following other predetermined events. Such arrangements provide for single net settlement of all financial instruments covered only by the agreements in the event of default on any one contract. Master netting arrangements do not normally result in an offset of balance–sheet assets and liabilities unless certain conditions for offsetting are met. Although master netting arrangements may significantly reduce credit risk, it should be noted that: - Credit risk is eliminated only to the extent that amounts due to the same counterparty will be settled after the assets are realized. - The extent to which overall credit risk is reduced may change substantially within a short period because the exposure is affected by each transaction subject to the arrangement. Loans The main types of collateral obtained for commercial lending are as follows: - Liens on real estate property, inventory and trade receivables. The Bank also obtains guarantees from parent companies for loans to their subsidiaries. Management monitors the market value of collateral and will request additional collateral in accordance with the underlying agreement. It is the Bank’s policy to dispose of repossessed property in an orderly fashion. The proceeds are used to reduce or repay the outstanding claim. In general, the Bank does not occupy repossessed property or received in lieu of payment, for business use. The Bank holds guarantees and other financial credit enhancements against certain exposures in the loan portfolio. As of December 31, 2023, and 2022, the coverage ratio to the carrying amount of the loan portfolio was 16% and 12%. iii. Incorporation of forward-looking information The Bank incorporates information about forward-looking economic environment, when assessing whether the credit risk of a financial instrument has significantly increased since initial recognition applying customer and country risk rating models which include projections of the inputs under analysis. A. Credit risk (continued) Supplementary, for the expected credit loss measurement, the results of the “alert model” can be considered, through the assessment of a severity indicator to total risk resulting from the estimates and assumptions of several macroeconomic factors. These estimates and assumptions are supported by a base scenario. Other scenarios represent upside and downside results. The implementation and interpretation of the outcomes of the alert model are based on Management´s expert judgment, pondering on suggestions of areas such as Credit Risk, Economic Studies and Loan Recovery of the Bank. The external information could include economic data and projections published by governmental committees, monetary agencies (for example, the U.S. Federal Reserve and banking authorities from countries where the Bank operates), supranational organizations (International Monetary Fund, The World Bank, World Trade Organization), private sector, academic projections, credit rating agencies, among other. Main macroeconomic variables of the alert model with forward-looking scenarios are: Variables Description GDP Growth (Var. %) % Variation in the growth of the Gross Domestic Product (GDP) ComEx Growth Index (Var. %) % Variation in foreign trade growth (Export + Import) The model uses, as main inputs, the percentage variation of the gross domestic product and the percentage of the foreign trade growth index. The main movements and changes in the variables are analyzed, in general and in particular for each country in the region. The historical and projected information over a period of five years allows Management to estimate the macroeconomic effects in the Bank's portfolio. A. Credit risk (continued) The table below lists the alert model's macroeconomic assumptions for countries representing the higher exposures, for the base, upside and downside scenarios over the five-year forecasted average available for each reporting period. Variable GDP Growth ComEx Growth Index Scenario December 31, December 31, December 31, December 31, Base 2.1 % 1.9 % 2.5 % 7.1 % Brazil Upside 3.1 % 2.9 % 6.0 % 10.6 % Downside 0.7 % 0.5 % -1.5 % 3.1 % Base 1.8 % 1.7 % 1.4 % 3.1 % Chile Upside 2.9 % 2.8 % 4.9 % 6.6 % Downside 0.6 % 0.5 % -2.6 % -0.9 % Base 2.4 % 3.6 % 0.2 % 8.4 % Colombia Upside 3.5 % 4.7 % 3.2 % 11.4 % Downside 1.1 % 2.3 % -3.3 % 4.9 % Base 4.2 % 4.8 % 3.6 % 5.8 % Dominican Republic Upside 5.4 % 6.0 % 7.1 % 9.3 % Downside 2.9 % 3.5 % -0.4 % 1.8 % Base 1.8 % 2.6 % 0.2 % 5.7 % Ecuador Upside 2.8 % 3.6 % 3.2 % 8.7 % Downside 0.3 % 1.1 % -3.3 % 2.2 % Base 3.4 % 3.5 % 4.7 % 5.8 % Guatemala Upside 4.4 % 4.5 % 7.7 % 8.8 % Downside 2.2 % 2.3 % 1.2 % 2.3 % Base 2.4 % 1.9 % 4.9 % 6.4 % Mexico Upside 3.4 % 2.9 % 8.9 % 10.4 % Downside 1.2 % 0.7 % 0.4 % 1.9 % Base 2.3 % 2.9 % 2.7 % 4.9 % Peru Upside 3.3 % 3.9 % 6.2 % 8.4 % Downside 1.1 % 1.7 % -1.3 % 0.9 % iv. Loss allowances The following tables show reconciliations from the opening to the closing balances of the loss allowance by class of financial instrument. The basis for determining transfers due to changes in credit risk is set out in our accounting policy in Note 3.4 (K). A. Credit risk (continued) Loans at amortized cost Stage 1 Stage 2 Stage 3 Total Allowance for expected credit losses as of December 31, 2022 28,589 5,050 21,561 55,200 Transfer to lifetime expected credit losses (752) 752 — — Net effect of changes in allowance for expected credit losses (2,363) 11,195 6,481 15,313 Financial instruments that have been derecognized during the year (17,950) (879) — (18,829) New instruments originated or purchased 27,254 1,616 — 28,870 Write-offs — — (21,144) (21,144) Allowance for expected credit losses as of December 31, 2023 34,778 17,734 6,898 59,410 Stage 1 Stage 2 Stage 3 Total Allowance for expected credit losses as of December 31, 2021 20,115 16,175 5,186 41,476 Transfer to lifetime expected credit losses (29) 29 — — Transfer to 12-month expected credit losses 176 (176) — — Transfer to credit-impaired financial instruments (130) — 130 — Net effect of changes in allowance for expected credit losses (1,718) (10,146) 16,072 4,208 Financial instruments that have been derecognized during the year (12,385) (832) — (13,217) New instruments originated or purchased 22,560 — — 22,560 Write-offs — — (893) (893) Recoveries — — 1,066 1,066 Allowance for expected credit losses as of December 31, 2022 28,589 5,050 21,561 55,200 A. Credit risk (continued) 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 is 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, 2022 3,605 23 — 3,628 Transfer to lifetime expected credit losses (24) 24 — — Transfer to 12-month expected credit losses 22 (22) — — Net effect of changes in reserve for expected credit losses (58) 21 — (37) Financial instruments that have been derecognized during the year (2,824) — — (2,824) New instruments originated or purchased 3,184 1,108 — 4,292 Allowance for expected credit losses as of December 31, 2023 3,905 1,154 — 5,059 Stage 1 Stage 2 Stage 3 Total Allowance for expected credit losses as of December 31, 2021 3,472 331 — 3,803 Transfer to 12-month expected credit losses 133 (133) — — Net effect of changes in reserve for expected credit losses (160) (39) — (199) Financial instruments that have been derecognized during the year (2,981) (136) — (3,117) New instruments originated or purchased 3,141 — — 3,141 Allowance for expected credit losses as of December 31, 2022 3,605 23 — 3,628 Securities at amortized cost Stage 1 Stage 2 Stage 3 Total Allowance for expected credit losses as of December 31, 2022 2,170 1,779 4,002 7,951 Transfer to lifetime expected credit losses (46) 46 — — Net effect of changes in allowance for expected credit losses (58) 547 1,252 1,741 Financial instruments that have been derecognized during the year (1,074) (218) — (1,292) New financial assets originated or purchased 238 — — 238 Writte-offs — (1,752) (5,254) (7,006) Allowance for expected credit losses as of December 31, 2023 1,230 402 — 1,632 A. Credit risk (continued) Stage 1 Stage 2 Stage 3 Total Allowance for expected credit losses as of December 31, 2021 1,790 — — 1,790 Transfer to lifetime expected credit losses (46) 46 — — Transfer to credit-impaired financial instruments (33) — 33 — Net effect of changes in allowance for expected credit losses (13) 941 3,969 4,897 Financial instruments that have been derecognized during the year (420) — — (420) New financial assets originated or purchased 892 792 — 1,684 Allowance for expected credit losses as of December 31, 2022 2,170 1,779 4,002 7,951 Securities at FVOCI Stage 1 Stage 2 Stage 3 Total Allowance for expected credit losses as of December 31, 2022 10 — — 10 Financial instruments that have been derecognized during the year (11) — — (11) New financial assets originated or purchased 2 — — 2 Allowance for expected credit losses as of December 31, 2023 1 — — 1 Stage 1 Stage 2 Stage 3 Total Allowance for expected credit losses as of December 31, 2021 26 — — 26 Financial instruments that have been derecognized during the year (16) — — (16) Allowance for expected credit losses as of December 31, 2022 10 — — 10 The following table provides a reconciliation between: - Amounts shown in the previous tables reconciling opening and closing balances of loss allowance per class of financial instrument; and - The (reversal) provision for credit losses’ line item in the consolidated statement of profit or loss. A. Credit risk (continued) Loans at amortized Loan commitments Securities December 31, 2023 At amortized cost FVOCI Total Net effect of changes in allowance for expected credit losses 15,313 (37) 1,741 — 17,017 Financial instruments that have been derecognized during the year (18,829) (2,824) (1,292) (11) (22,956) New financial assets originated or purchased 28,870 4,292 238 2 33,402 Total 25,354 1,431 687 (9) 27,463 Loans at amortized Loan commitments Securities December 31, 2022 At amortized cost FVOCI Total Net effect of changes in allowance for expected credit losses 4,208 (199) 4,897 — 8,906 Financial instruments that have been derecognized during the year (13,217) (3,117) (420) (16) (16,770) New financial assets originated or purchased 22,560 3,141 1,684 — 27,385 Total 13,551 (175) 6,161 (16) 19,521 Loans at amortized Loan commitments Securities December 31, 2021 At amortized cost FVOCI Total Net effect of changes in allowance for expected credit losses (2,477) (54) (20) — (2,551) Financial instruments that have been derecognized during the year (14,715) (1,948) (193) (17) (16,873) New financial assets originated or purchased 17,343 2,901 1,508 — 21,752 Total 151 899 1,295 (17) 2,328 A. Credit risk (continued) v. Credit-impaired financial assets Financial instruments with credit-impaired 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: December 31, 2023 2022 Credit-impaired loans at beginning of year 21,561 5,186 Classified as credit-impaired during the year — 130 Change in allowance for expected credit losses 6,181 14,606 Write-offs (21,144) (893) Recoveries of amounts previously written off — 1,066 Interest income 300 1,466 Credit-impaired loans at end of year 6,898 21,561 December 31, 2023 2022 Investments at amortized cost with credit impairment at beginning of year 4,002 — Classified as credit-impaired during the year — 33 Change in allowance for expected credit losses 1,249 3,717 Interest income 3 252 Write-offs (5,254) — Investments at amortized cost with credit impairment at end of year — 4,002 A. Credit risk (continued) vi. 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, loan commitments, financial guarantees and securities is as follows. Concentration by sector and industry Loans at Loan commitments Securities At amortized cost FVOCI December 31, December 31, December 31, December 31, December 31, December 31, December 31, December 31, Carrying amount - principal 7,195,567 6,763,020 261,428 163,345 999,544 941,971 11,824 77,972 Amount committed/guaranteed — — 1,063,706 779,374 — — — — Concentration by sector Corporations: Private 3,192,357 2,553,193 727,379 409,139 582,877 543,381 — 24,773 State-owned 1,204,471 1,115,932 115,542 110,468 20,619 51,388 — — Financial institutions: Private 2,248,150 2,245,385 97,381 120,614 311,870 250,975 — — State-owned 464,917 719,882 384,832 302,498 35,149 31,902 11,824 53,199 Sovereign 85,672 128,628 — — 49,029 64,325 — — Total 7,195,567 6,763,020 1,325,134 942,719 999,544 941,971 11,824 77,972 Concentration by industry Financial institutions 2,713,067 2,965,266 482,213 423,112 351,463 282,878 11,824 53,199 Manufacturing 1,702,514 1,341,453 464,433 293,659 346,140 339,914 — 14,898 Oil and petroleum derived products 1,330,526 1,244,491 106,518 104,426 95,144 77,553 — 9,875 Agricultural 239,498 317,037 22,546 3,854 — — — — Services 465,113 267,868 108,632 55,430 84,840 64,412 — — Mining 328,415 150,707 26,329 — 9,690 24,381 — — Sovereign 85,672 128,628 — — 49,029 64,325 — — Other 330,762 347,570 114,463 62,238 63,238 88,508 — — Total 7,195,567 6,763,020 1,325,134 942,719 999,544 941,971 11,824 77,972 A. Credit risk (continued) Risk rating and concentration by country Loans at Loan commitments Securities At amortized cost FVOCI December 31, December 31, December 31, December 31, December 31, December 31, December 31, December 31, Carrying amount - principal 7,195,567 6,763,020 261,428 163,345 999,544 941,971 11,824 77,972 Amount committed/guaranteed — — 1,063,706 779,374 — — — — Rating 1-4 2,893,562 2,864,685 621,339 336,519 913,524 736,139 11,824 77,972 5-6 3,918,848 3,696,527 443,791 301,031 86,020 200,837 — — 7-8 373,050 191,701 260,004 305,169 — 4,995 — — 10 10,107 10,107 — — — — — — Total 7,195,567 6,763,020 1,325,134 942,719 999,544 941,971 11,824 77,972 Concentration by country Argentina 52,264 55,598 — — — — — — Australia — — — — 4,803 9,628 — — Belgium 14,223 25,362 — — — — — — Bolivia — — 4,270 3,759 — — — — Brazil 1,008,633 980,205 83,932 54,907 31,009 69,501 — — Canada 22,599 — 24,996 — 38,508 13,503 — — Chile 454,885 416,714 16,423 44,846 79,495 112,586 — — Colombia 938,897 702,409 67,545 54,333 23,837 54,484 — — Korea — — — — 1,839 — — — Costa Rica 284,709 260,625 51,895 56,718 7,988 9,926 — — Denmark — — — 11,880 — — — — Dominican Republic 637,199 579,918 157,986 27,534 4,705 4,828 — — Ecuador 190,628 110,466 259,597 305,168 — — — — El Salvador 82,500 30,032 — — — — — — France 27,454 126,929 96,249 66,906 — — — — Germany — — 15,000 10,000 14,750 — — — Guatemala 704,012 745,837 100,227 67,456 — — — — Honduras 221,672 176,270 975 3,615 — — — — Hong Kong 15,000 2,800 — — — — — — Ireland — — — — 14,976 9,579 — — Israel — — — — 4,788 4,880 — — Italy — — — — 14,660 — — — Jamaica 101,858 14,083 — — — — — — Japan 12,037 14,712 — — 38,548 4,353 — — Luxembourg 89,833 114,557 — — — — — — Mexico 838,495 823,028 83,561 69,080 62,229 100,870 — — Netherlands — — 800 — — — — — Norway — — — — 9,838 — — — Panama 374,364 533,452 29,301 19,240 33,977 29,065 — — Paraguay 186,426 151,287 230 3,430 — — — — Peru 536,236 478,998 223,460 114,941 30,635 60,575 — — Singapore 145,807 152,208 7,057 24,333 — — — — Trinidad and Tobago 132,783 128,846 — — — — — — United States of America 74,139 53,463 — 3,349 539,727 458,193 — 43,464 United Kingdom 37,314 51,221 — — 43,232 — — — Uruguay 11,600 34,000 101,630 1,224 — — — — Multilateral — — — — — — 11,824 34,508 Total 7,195,567 6,763,020 1,325,134 942,719 999,544 941,971 11,824 77,972 A. Credit risk (continued) vii. Offsetting financial assets and liabilities The following tables include financial assets and liabilities that are offset in the consolidated financial statement or subject to an enforceable master netting arrangement: a) Derivative financial instruments – assets December 31, 2023 Gross Gross amounts Net amount of Gross amounts not offset in Net Financial Cash collateral Derivative financial instruments used for hedging 157,267 — 157,267 — (152,111) 5,156 Total 157,267 — 157,267 — (152,111) 5,156 December 31, 2022 Gross Gross amounts Net amount of Gross amounts not offset in Net Financial Cash collateral Derivative financial instruments used for hedging 68,159 — 68,159 — (50,615) 17,544 Total 68,159 — 68,159 — (50,615) 17,544 A. Credit risk (continued) b) Securities sold under repurchase agreements and derivative financial instruments – liabilities December 31, 2023 Gross Gross amounts Net amount of Gross amounts not offset in the Net Financial Cash collateral Securities sold under repurchase agreements at amortized cost (310,197) — (310,197) 342,271 8,087 40,161 Derivative financial instruments used for hedging at FVTPL (40,613) — (40,613) — 34,297 (6,316) Total (350,810) — (350,810) 342,271 42,384 33,845 December 31, 2022 Gross Gross amounts Net amount of Gross amounts not offset in Net Financial Cash collateral Securities sold under repurchase agreements at amortized cost (300,498) — (300,498) 791,956 22,947 514,405 Derivative financial instruments used for hedging at FVTPL (33,761) — (33,761) — 17,702 (16,059) Total (334,259) — (334,259) 791,956 40,649 498,346 Liquidity risk (continued) The following table details the Bank’s liquidity ratios: December 31, 2023 2022 At the end of the year 205.8 % 167.5 % Year average 177.2 % 132.6 % Maximum of the year 357.0 % 276.9 % Minimun of the year 111.5 % 81.2 % The following table includes the Bank’s liquid assets by country risk: December 31, 2023 December 31, 2022 (in millions of USD dollars) Cash and due from Securities FVOCI Total Cash and due from Securities FVOCI Total United States of America 1,904 — 1,904 1,151 43 1,194 Latin America 7 — 7 15 — 15 Other countries 1 — 1 — — — Multilateral 75 12 87 25 35 60 Total 1,987 12 1,999 1,191 78 1,269 The following table includes the Bank’s demand deposits from customers and its ratio to total deposits from customers: December 31, 2023 2022 (in millions of USD dollars) Demand and "overnight" deposits 748 583 Demand and "overnight" deposits to total deposits 17.0 % 18.3 % The liquidity requirements resulting from the Bank’s demand deposits from customers is satisfied by the Bank’s liquid assets as follows: December 31, (in millions of USD dollars) 2023 2022 Total liquid assets 1,999 1,269 Total assets to total liabilities 45.4 % 39.8 % Total liquid assets in the Federal 94.3 % 90.2 % 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 material 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: December 31, (in millions of USD dollars) 2023 2022 Loan portfolio at amortized cost and investment portfolio less than/equal to 1 year according to its original terms 4,087 4,008 Average term (days) 197 200 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: December 31, (in millions of USD dollars) 2023 2022 Loan portfolio at amortized cost and investment portfolio greater than/equal to 1 year according to its original terms 4,119 3,775 Average term (days) 1381 1367 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: December 31, 2023 Up to 3 3 to 6 months 6 months to 1 1 to 5 years More than 5 Gross inflows Carrying Assets Cash and due from banks 2,048,021 — — — — 2,048,021 2,047,452 Securities 10,992 89,836 110,816 886,944 32,117 1,130,705 1,022,131 Loans 1,935,474 1,775,280 1,524,298 2,580,310 243,491 8,058,853 7,220,520 Derivative financial instruments - assets 2,510 5,783 54,983 90,516 3,473 157,265 157,267 Total 3,996,997 1,870,899 1,690,097 3,557,770 279,081 11,394,844 10,447,370 Liabilities Deposits (3,270,253) (536,751) (606,002) (90,194) — (4,503,200) (4,451,025) Securities sold under repurchase agreements (317,951) — — — — (317,951) (310,197) Borrowings and debt (856,466) (746,314) (989,680) (2,167,620) (59,762) (4,819,842) (4,401,205) Lease liabilities (284) (286) (572) (4,728) (10,837) (16,707) (16,707) Derivative financial instruments - liabilities (17,188) (1,994) (7,849) (11,661) (2,034) (40,726) (40,613) Total (4,462,142) (1,285,345) (1,604,103) (2,274,203) (72,633) (9,698,426) (9,219,747) Subtotal net position (465,145) 585,554 85,994 1,283,567 206,448 1,696,418 1,227,623 Off-balance sheet contingencies Confirmed letters of credit 264,603 64,100 345 16,560 — 345,608 Stand-by letters of credit and guarantees 196,775 79,659 199,192 15,000 — 490,626 Credit commitments 20,000 39,497 37,545 130,430 — 227,472 Total 481,378 183,256 237,082 161,990 — 1,063,706 Total net position (946,523) 402,298 (151,088) 1,121,577 206,448 632,712 B. Liquidity risk (continued) December 31, 2022 Up to 3 3 to 6 6 months to 1 1 to 5 years More than 5 Gross inflows Carrying Assets Cash and due from banks 1,241,779 — — — — 1,241,779 1,241,586 Securities 129,983 105,789 98,345 744,996 10,293 1,089,406 1,023,632 Loans 2,294,259 1,478,494 1,223,661 2,244,454 158,967 7,399,835 6,760,434 Derivative financial instruments - assets 4,216 10,831 14,015 39,097 — 68,159 68,159 Total 3,670,237 1,595,114 1,336,021 3,028,547 169,260 9,799,179 9,093,811 Liabilities Deposits (2,770,754) (256,989) (161,889) (39,805) — (3,229,437) (3,205,386) Securities sold under repurchase agreements (53,418) (64,513) (55,144) (138,286) — (311,361) (300,498) Borrowings and debt (776,584) (895,531) (934,288) (2,212,704) (41,523) (4,860,630) (4,464,389) Lease liabilities (384) (384) (738) (5,769) (13,771) (21,046) (16,745) Derivative financial instruments - liabilities (3,702) (764) (63) (26,882) (2,350) (33,761) (33,761) Total (3,604,842) (1,218,181) (1,152,122) (2,423,446) (57,644) (8,456,235) (8,020,779) Subtotal net position 65,395 376,933 183,899 605,101 111,616 1,342,944 1,073,032 Off-balance sheet contingencies Confirmed letters of credit 166,367 117,398 21,024 — — 304,789 Stand-by letters of credit and guarantees 132,353 117,750 92,750 8,772 — 351,625 Credit commitments — 13,102 32,906 76,952 — 122,960 Total 298,720 248,250 146,680 85,724 — 779,374 Total net position (233,325) 128,683 37,219 519,377 111,616 563,570 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 notional inflows and outflows for derivatives that simultaneously settle gross or net amounts. 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. iii. Liquidity reserves As part of the management of liquidity risk arising from financial liabi lities, the Bank holds liquid assets comprising cash and cash equivalents. The following table sets out the components of the Banks’s liquidity reserves: December 31, 2023 December 31, 2022 Amount Fair value Amount Fair value Balances with Federal Reserve of the United 1,884,204 1,884,204 1,144,896 1,144,896 Cash and due from banks (1) 102,864 102,864 46,040 46,040 Total 1,987,068 1,987,068 1,190,936 1,190,936 (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: December 31, 2023 December 31, 2022 Pledged as collateral Available as collateral Pledged as collateral Available as collateral Cash and due from banks 60,384 1,987,066 50,650 1,190,936 Notional of investment securities 400,825 619,533 331,571 672,042 Loans at amortized cost — 7,195,567 — 6,763,020 Total 461,209 9,802,166 382,221 8,625,998 The total financial assets recognized in the statement of financial position that had been pledged as collateral for liabilities as of December 31, 2023, and 2022, are shown in the table above. The nature of those financial assets is included in Note 5.A.ii C. Market risk The Bank manages market risk by considering the consolidated financial situation of the Bank. For the definition of market risk and information on how the Bank manages the market risks of non-trading portfolios, see Note 6. 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 liabili ties: December 31, 2023 Up to 3 3 to 6 6 months to 1 to 5 years More than 5 Without interest Total Assets Cash and due from banks 2,044,103 — — — — 3,349 2,047,452 Securities 14,169 60,256 82,951 824,836 29,156 — 1,011,368 Loans 4,292,324 1,699,301 915,143 280,005 8,794 — 7,195,567 Total 6,350,596 1,759,557 998,094 1,104,841 37,950 3,349 10,254,387 Liabilities Demand deposits and time deposits (3,553,774) (442,338) (342,686) (59,029) — (10,322) (4,408,149) Securities sold under repurchase agreements (310,197) — — — — — (310,197) Borrowings and debt (2,653,3

Financial risk management

Financial risk management	12 Months Ended
	Dec. 31, 2023
Financial risk management
Financial risk management	The risk is inherent to the Bank’s activities. Risks are classified into two categories: financial and non-financial risks. Financial risks are those associated within the Bank’s business model, with impact in the Bank’s consolidated statements of financial position and profit or loss, as follows: country risk, credit risk, market risk and liquidity risk. Non-financial risks are those related to the Bank’s operating model and the regulatory environment that may affect the integrity of the information, the Bank’s reputation and also its profit or loss accounts, as follows: operational, technological, cybersecurity, compliance (know your customer, money laundering, terrorism financing), environmental, fraud, among others. Lead by the Head of Integrated Risk Management, an ongoing process of identification, measurement, monitoring, control, mitigation and reporting to all operating areas within the Bank is carried out continuously, considering the different types of risks to which the Bank is exposed to, according to the size and complexity of its operations, products and services. The Bank has in place policies, standards and procedures, structures, and manuals relating to integrated risk management, designed to identify potential events that may affect it, all of which are consistent with the risk profile of the business, considering the complexity and the volume of its operations. The Board of Directors is responsible for establishing the Bank’s acceptable risk profile, for which it has the knowledge and understanding of the risks to which the Bank is exposed to. The Board of Directors designate the members of the Risk Policy and Assessment Committee (CPER, for its acronym in Spanish), which is responsible for overseeing the overall risk process within the Bank. CPER oversees the assessment and recommendation for approval of the Board of Directors of all the policies relating to a prudent Integrated Risk Management. Furthermore, the Committee also reviews and assesses the exposure, within the risk levels stated in its policies, by which the Bank is willing to assume the various risks it faces through business management. The Head of Integrated Risk Management directly reports to the CEO and the CPER, and has as a main duty to ensure the integrated risk management of the Bank’s operating model and IT platform, as well as the financial and credit related risks, being responsible for implementing and maintaining risk-related procedures in place to ensure that an independent control process is kept, monitoring compliance of the risk principles, policies and limits at all levels throughout the Bank. The Head of Integrated Risk Management works closely with CPER to ensure that procedures are consistent with the integr ated risk management governance framework. Risk Management Committees: - Operational Risk Committee. - Country Risk Committee. - Credit Committee (Managemen t Credit Committee / Board of Director´s Delegated Credit Committee / CPER). - Management and Monitoring Committee. - Asset and Liability Committee (ALCO). - Technological Risk and Information Security Committee The Bank emphasizes the awareness of its employees, promoting a Risk M anagement culture that has continuity over time and that allows them to understand and assimilate the importance of this concept from each of the processes that are executed within their areas. This is done throughout the training of all employees on an annual basis to raise their awareness in general terms of operational risks, which includes updates on applicable laws and regulations as required. A. Credit risk As part of the embedded risk, the Bank will incur in losses and/or its assets will be impaired as a result of the failure of its borrowers to comply in a timely manner or to meet the terms of credit agreements. The Bank’s customer base consists primarily of corporations, large companies, local and regional financial institutions, as well as state-owned enterprises. The Bank focuses its risk assessment on an in-depth analysis of the entity or economic group that involves: the nature of the business, the countries where it operates, types of products offered, duration of the relationship, track record and reputation, among others. Credit risk management comprises two main stages: origination and monitoring. The credit origination process involves the activities of identifying and analyzing the customer's creditworthiness and approving the terms and conditions for credit extensions. The monitoring process consists of annual credit reviews of existing exposures, "ad hoc" reviews on a case-by-case basis when conditions so require, and portfolio reviews by the Bank's credit committees. The objective is to maximize the risk-adjusted rate of return by keeping credit risk exposures within acceptable parameters. This process involves the Risk and Business Units, as well as the Risk Policy and Assessment Committee (CPER). The Bank determines the appropriate level of allowances for expected credit losses based on a forward-looking process that estimates the probable loss inherent in its credit portfolio and is the result of a statistical analysis supported by the Bank’s historical portfolio performance, external sources, and the judgment of the Bank’s Management. This level of allowance reflects assumptions and estimations made in the context of changing political and economic conditions in the region, in which the Bank operates. The Bank periodically assesses the adequacy and the validity of the allowance for expected credit losses calculation model. When assessing if the calculation model remains valid, characteristics and behavior of the loan portfolio are considered as a fundamental factor, as well as periodic economic analysis that contribute to the active management of the portfolio. A. Credit risk (continued) The Bank's business model holds a low-risk portfolio, which focuses on financial institutions and large leading corporations in the region, including "quasi-sovereign" entities in strategic sectors, with whom it mainly conducts foreign trade operations. Climate risk, like any other risk in general, implies the presence of an extreme natural event, but unpredictable, resulting in a human activity that may be damaged by such event. Consequently, the Bank incorporates into its risk assessment the possible impacts of climate risk that may affect its credit portfolio. Individually assessed reserves The Bank individually assesses the appropriate reserves for certain material financial assets, by considering interest payment delays, credit rating downgrading or any breach of the original contractual terms. Factors considered when determining a reserve include the sustainability of the counterparty’s business plan, its ability to improve performance when facing a difficult financial situation, projected payments and expected results in the event of bankruptcy, the availability of other financial support, the realizable value of collateral, and the timing of expected cash flows. Impairment loss is assessed at each reporting date, unless unforeseen circumstances require special attention on other dates. Collectively assessed reserves Reserves are separately assessed at each reporting date for each portfolio. The collective assessment is made for groups of assets with similar risk characteristics, to determine whether it is appropriate to provide for, due to incurred loss events for which there is objective evidence, but the effects of which are not yet evident in individual loan assessments. The collective assessment considers either portfolio information (e.g. historical losses in the portfolio, delinquency levels, credit utilization, loan-to-collateral ratios and expected collections and recoveries after impairment) and economic data (such as current economic conditions, unemployment, local or industry-specific situations). The Bank generally supports its assessment on historical experience and forward-looking information. However, when significant market, regional and/or global events occur, the Bank includes these macroeconomic factors in its assessments. Depending on the characteristics of the individual or collective assessment, these factors include: unemployment rates, current levels of impaired debt, changes in law, changes in regulation, bankruptcy trends and other consumer data. The Bank may use the above factors, as appropriate, to adjust for impairment. The time elapsed since a loss is incurred and a specific individual reserve requirement is identified should be taken into consideration for the assessment. The impairment reserve is reviewed by credit risk management to ensure alignment with the Bank’s general policy. Financial guarantees and letters of credit are assessed in a similar manner to loans at amortized cost. A supplemental qualitative review may result in adjustments to the level of provisions, based on prospective reviews of potential risk scenarios for businesses or loans not yet captured in the Bank’s historical information. The Bank has developed internal customer, counterparty and country rating models, which allow for proactive risk management in terms of exposure limits, transaction typology and time limits, among others. Derivative financial instruments Credit risk arising from derivative financial instruments is, at any time, limited to those with positive fair values, as recognized in the consolidated statement of financial position at fair value. With derivatives that are settled gross, the Bank is also exposed to settlement risk, which is the risk that the Bank will honor its obligation, but the counterparty will be unable to deliver the value of the consideration. A. Credit risk (continued) Credit Commitments The Bank makes available to its customers guarantees that may require the Bank to make payments on behalf of these customers and to take on commitments to issue lines of credit to ensure their liquidity needs. Letters of credit and guarantees (including standby letters of credit) commit the Bank to make payments on behalf of customers for a specific event, usually related to the import or export of goods. Such commitments expose the Bank to risks similar to those for loans which are mitigated by the same controls established in processes and policies. B. Liquidity risk Liquidity risk is the possibility of an economic loss to the Bank due to the difficulty in liquidating assets or obtaining financial resources on normal terms. The Bank conducts daily reviews of the Liquidity Coverage Ratio (LCR). The LCR methodology follows local standards and guidelines recommended by the Basel Committee. The Bank also monitors the Net Stable Funding Ratio (NSFR), to maintain an adequate funding structure over the long term. Liquidity is controlled through the periodic review of: - The maturity schedule to identify maturity “gaps” in the various timeframes. - Deposit concentration report to identify possible increases in amounts and maturities that may affect the Bank’s liquidity. The Bank has a Liquidity Contingency Plan in place, which was designed to monitor a series of indicators that could trigger a liquidity event, with potential impact on the Bank’s operations and establishes an action plan so that the Bank’s liquidity is always assured. C. Market risk Market risk is the risk that the value of the Bank’s assets and liabilities will decline due to changes in market conditions that may adversely affect its income. The risk is inherent in the financial instruments associated with the Bank’s operations and activities, including: loans, securities, borrowings and debt, derivatives, among others. The main risks include: interest rate risk and foreign exchange risk, which can affect asset prices and result in losses for the Bank. With respect to interest rate risk management, the Bank’s policy requires Management to assess the asset and liability positions in order to reduce potential adverse impacts on net interest income due to market interest rate fluctuations. The Bank manages interest rate risk by closely monitoring the appreciation and decline in value of the assets and liabilities through hedging to reduce potential negative impacts on profit or loss for the period and equity. Management conducts periodic sensitivity analyses simulating market changes in interest rates to determine potential impacts on net interest income (both upward and downward). In addition, the Bank monitors the DV01 limit, for which a parallel 1-base point shock is applied to the interest rate curve and assesses if there is any impact on equity. At the same time, the Bank's Management measures equity sensitivity following the methodology described by the Basel Banking Supervision Committee (Basel III) to measure the interest rate risk implicit in the notional value. Foreign exchange risk is the risk of change in the market value of a financial instrument due to fluctuatio ns in the exchange rate of a given currency. Th e Bank operates primarily in U.S. dollars, so exposure to this type of risk is minimized. For transactions in currencies other than the US dollar, the Bank manages the exchange rate risk by arranging derivative instruments for hedging purposes, or by establishing natural hedges matching assets and liabilities expressed in the same currency. For liquidity positions, the Bank has established thresholds in order to limit the maximum level of exposure. D. Operational risk Operational risk is the possibility of incurring losses due to deficiencies, failures or inadequacies in human resources, processes, technology, infrastructure, management information, models used, or the occurrenc e of external events. If this occurs, it can damage the Bank’s reputation and result in regulatory sanctions, which can lead to financial losses. The Bank , like any other financial institution, is exposed to operational risks. The main objective with Operational Risk Management is to reduce losses generated from operational risk and maintain an adequate administration thereof through the use of established management tools such as: risk profile, risk mapping, global and specific limits, operational risk indicators, as well as the analysis of events and incidents recorded in a database in order to monitor action plans on actual or potential risks. As part of an adequate operational risk management, the Bank maintains a Business Continuity Plan to provide effective responses that guarantee the continuity of services and the banking business activities upon the occurrence of events that may create an interruption or instability in its operations. E. Fraud risk Fraud is any intentional act or omission designed to deceive others, resulting in a loss for the victim and/or a gain for the perpetrator. Identification of fraud risk considers both internal and external factors, and their impact on the achievement of the Bank’s objectives. Internal fraud is related to losses arising from any type of action, involving Bank employees, aimed at defrauding, misappropriating property or violating regulations, laws or internal policies. External fraud is related to losses arising from any type of action by a third party aimed at defrauding, misappropriating property or infringing the law. To manage this risk, the Bank has a general fraud risk management program in place, which includes: establishing fraud risk governance policies, evaluating fraud risk, designing and developing control activities to prevent and detect fraud, and investigating fraud, including monitoring and evaluating the fraud risk management program. F. Cyber security risk Cybersecurity or information technology security refers to the procedures designed, and measures implemented to protect technological appliances, networks, programs and data against cyber-attacks, in other words, unauthorized access or attacks aimed at operating, or misusing, the Bank’s technology platform to access the financial system. The Bank has approved policies and implemented procedures defining roles and responsibilities for managing information security as part of the IT security and technology risk management framework. These policies and procedures apply throughout the Bank and cover all relationships between the workforce, customers and suppliers, as well as any other individual who, on a permanent or temporary basis with the Bank, has some form of access to data, resource management and IT systems. To counter the risk arising from cyber attacks, the Bank maintains a comprehensive monitoring program of the main attack vectors: emails and end-user devices, as well as the continuous frequency of scans and vulnerability management. To address the risks arising under the hybrid model, the Bank maintains security platforms that provide an adequate level of protection, in order to keep the same security posture, regardless of the physical location of the employees. Additionally, for the risk related to cyber-resilience, the Bank continuously executes internal and external penetration tests in order to have the ability to respond, resist and/or recover from cyber attacks or incidents. The Bank's Information Security Officer is responsible for ensuring compliance with policies and procedures by anyone with access to the Bank’s systems. The Bank also commits to independent third-party reviews of its cybersecurity program. The Bank's cybersecurity program has been developed with a holistic approach, allowing the Bank to encompass both technical and strategic measures in a single framework. This program is based on five fundamental pillars: Perimeter Security, Services and Infrastructure Security, User Security, Data Security, and Security in service providers.

Fair value of financial instrum

Fair value of financial instruments	12 Months Ended
	Dec. 31, 2023
Fair value of financial instruments
Fair value of financial instruments	The Bank determines the fair value of its financial instruments using the fair value hierarchy, which requires the Bank to maximize the use of observable inputs (those that reflect the assumptions that market participants would use in pricing the asset or liability developed based on market information obtained from sources independent of the reporting entity) and to minimize the use of unobservable inputs (those that reflect the reporting entity’s own assumptions about the inputs that market participants would use in pricing the asset or liability developed based on the best information available in the circumstances) when measuring fair value. Fair value is used on a recurring basis to measure assets and liabilities in which fair value is the primary basis of accounting. Additionally, fair value is used on a non-recurring basis to assess assets and liabilities for impairment or for disclosure purposes. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Depending on the nature of the asset or liability, the Bank uses some valuation techniques and assumptions when estimating fair value. The Bank applied the following fair value hierarchy: Level 1 – Assets or liabilities for which an identical instrument is traded in an active market, such as publicly-traded instruments or futures contracts. Level 2 – Assets or liabilities valued based on observable market data for similar instruments, quoted prices in markets that are not active; or other observable inputs that can be corroborated by observable market data for substantially the full term of the asset or liability. Level 3 – Assets or liabilities for which significant valuation inputs are not readily observable in the market; instruments measured based on the best available information, which might include some internally-developed data, and considers risk premiums that a market participant would require. When determining the fair value measurements for assets and liabilities that are required or permitted to be recorded at fair value, the Bank considers the principal or most advantageous market in which it would transact and considers the inputs that market participants would use when pricing the asset or liability. A. Measured at fair value When identical assets and liabilities are not traded in active markets, the Bank uses observable market information for similar assets and liabilities. However, certain assets and liabilities are not actively traded in observable markets and the Bank must use alternative valuation techniques to determine the fair value measurement. The frequency of transactions, the size of the bid-ask spread, and the size of the investment are factors considered in determining the liquidity of markets and the relevance of observed prices in those markets. When there has been a significant decrease in the valuation of the financial asset or liability, or in the level of activity for a financial asset or liability (provided it is not due to impairment), the Bank uses the present value technique which considers market information to determine a representative fair value under usual market conditions. A description of the valuation methodologies used for assets and liabilities measured at fair value on a recurring basis, including the general classification of such assets and liabilities under the fair value hierarchy is presented below: Financial instruments at FVTPL or FVOCI For financial instruments at FVTPL or FVOCI, fair value is based upon quoted market prices, when available, or if quoted market prices are not available on discounted expected cash flows including interest rate yield curves and other market rates. When quoted prices are available in an active market, financial instruments at FVTPL and financial instruments at FVOCI are classified in level 1 of the fair value hierarchy. If quoted market prices are not available or they are available in markets that are not active, then fair values are estimated based upon quoted prices for similar instruments, or where these are not available, by using internal valuation techniques, principally discounted cash flows models. Such securities are classified within levels 2 and 3 of th e fair value hierarchy. A. Measured at fair value (continued) Derivative financial instruments and hedged items that qualify as a fair value hedging relationship The valuation techniques and inputs depend on the type of derivative and the nature of the underlying instrument. Exchange-traded derivatives that are valued using quoted prices are classified within level 1 of the fair value hierarchy. For those derivative contracts without quoted market prices, fair value is based on internal valuation techniques using inputs that are readily observable and that can be validated by information available in the market. The principal technique used to value these instruments is the discounted cash flow model and the key inputs considered in this technique include interest rate yield curves and foreign exchange rates. These derivatives are classified within level 2 of the fair value hierarchy. The fair value adjustments applied by the Bank to its derivative carrying amounts include credit valuation adjustments ("Credit and Debit Value Adjustment" CVA / DVA), which are applied to OTC derivative instruments, in which the base valuation generally discounts expected cash flows using the Overnight Index Swap interest rate curves. Because not all counterparties have the same credit rating, valuation adjustments are necessary to incorporate the market view of both the counterparty's credit risk and the Bank's own credit risk. Own-credit and counterparty (DVA and CVA) is determined using a fair value curve consistent with the Bank’s or counterparty credit rating. These adjustments are designed to incorporate a market view of the credit risk inherent in the derivative portfolio. However, most of the Bank’s derivative instruments are negotiated bilateral contracts and are not commonly transferred to third parties. Derivative instruments are normally settled contractually, or if terminated early, are terminated at a value negotiated bilaterally between the counterparties. Therefore, the CVA or DVA (both counterparty and own-credit) may not be realized upon a settlement or termination in the normal course of business. In addition, all or a portion of these adjustments may be reversed or otherwise adjusted in future periods in the event of changes in the credit risk of the Bank or its counterparties or due to the anticipated termination of the transactions. Financial instruments assets and liabilities recognized and designated as hedged items that qualify as a fair value hedging relationship are measured at amortized cost and adjusted for the effect of the risks covered in the hedging relationship. Financial instruments measured at fair value by caption on the consolidated statement of financial position using the fair value hierarchy are described below: December 31, 2023 Level 1 Level 2 Level 3 Total Assets Securities at FVOCI - Corporate debt — 11,865 — 11,865 Derivative financial instruments - assets: Interest rate swaps — 11,358 — 11,358 Cross-currency swaps — 145,909 — 145,909 Total derivative financial instrument assets — 157,267 — 157,267 Total assets at fair value — 169,132 — 169,132 Liabilities Derivative financial instruments - liabilities: Interest rate swaps — 790 — 790 Cross-currency swaps — 39,823 — 39,823 Total derivative financial instruments - liabilities — 40,613 — 40,613 Total liabilities at fair value — 40,613 — 40,613 A. Measured at fair value (continued) December 31, 2022 Level 1 Level 2 Level 3 Total Assets Securities at FVOCI - Corporate debt — 78,372 — 78,372 Derivative financial instruments - assets: Interest rate swaps — 483 — 483 Cross-currency swaps — 45,806 — 45,806 Foreign exchange forwards — 21,870 — 21,870 Total derivative financial instrument assets — 68,159 — 68,159 Total assets at fair value — 146,531 — 146,531 Liabilities Derivative financial instruments - liabilities: Interest rate swaps — 544 — 544 Cross-currency swaps — 33,217 — 33,217 Total derivative financial instruments - liabilities — 33,761 — 33,761 Total liabilities at fair value — 33,761 — 33,761 Fair value calculations are provided only for a limited portion of assets and liabilities. Due to the wide range of valuation techniques and the degree of subjectivity used for estimates, comparisons of fair value information disclosed by the Bank with those of other companies may not be meaningful for comparative analysis. B. Not measured at fair value The following methods and inputs were used by the Bank’s management in estimating the fair values of financial instruments not measured at fair value: Financial instruments with carrying value that approximates fair value The carrying value of certain financial assets, including cash and due from banks, interest-bearing deposits in banks, customers’ l iabilities under acceptances and certain financial liabilities including customer’s demand and time deposits, securities sold under repurchase agreements and acceptances outstanding, due to their short-term nature, is considered to approximate their fair value. These instruments are classified in level 2. Financial instruments measured at amortized cost The fair value of financial instruments measured at amortized cost is valued using quoted market prices. If quoted market prices are not available, then fair values are estimated based upon quoted prices for similar instruments. When prices for similar instruments are not available, then fair values are estimated by using discounted cash flow models using interest rate yields curves and other market rates. Such instruments are classified in levels 2 and 3. B. Not measured at fair value (continued) 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: December 31, 2023 Carrying Fair Level 1 Level 2 Level 3 Assets Cash and deposits in banks 2,047,452 2,047,452 — 2,047,452 — Securities at amortized cost (1) 1,010,266 997,341 — 997,341 — Loans at amortized cost (2) 7,220,520 7,267,429 — 7,267,429 — Customers' liabilities under acceptances 261,428 261,428 — 261,428 — Liabilities Deposits 4,451,025 4,451,025 — 4,451,025 — Securities sold under repurchase agreements 310,197 310,197 — 310,197 — Borrowings and debt, net 4,351,988 4,357,271 — 4,357,271 — Acceptances outstanding 261,428 261,428 — 261,428 — December 31, 2022 Carrying Fair Level 1 Level 2 Level 3 Assets Cash and deposits in banks 1,241,586 1,241,586 — 1,241,586 — Securities at amortized cost (1) 945,260 895,154 — 894,034 1,120 Loans at amortized cost, net (2) 6,760,434 6,785,652 — 6,785,652 — Customers' liabilities under acceptances 163,345 163,345 — 163,345 — Liabilities Deposits 3,205,386 3,205,386 — 3,205,386 — Securities sold under repurchase agreements 300,498 300,498 — 300,498 — Borrowings and debt, net 4,416,511 4,389,902 — 4,389,902 — Acceptances outstanding 163,345 163,345 — 163,345 — (1) The carrying value of securities at amortized cost is net of accrued interest receivable of $12.4 million and the allowance for expected credit losses of $1.6 million as of December 31, 2023 (accrued interest receivable of $11.2 million and the allowance for expected credit losses of $8.0 million as of December 31, 2022). (2) The carrying value of loans at amortized cost is net of accrued interest receivable of $109.1 million, the allowance for expected credit losses of $59.4 million and unearned interest and deferred fees of $24.7 million as of December 31, 2023 (accrued interest receivable of $70.0 million, the allowance for expected credit losses of $55.2 million and unearned interest and deferred fees of $17.3 million as of December 31, 2022).

Cash and due from banks

Cash and due from banks	12 Months Ended
	Dec. 31, 2023
Cash and due from banks
Cash and due from banks	The following table presents the details of interest-bearing deposits in banks and restricted deposits: December 31, 2023 2022 Unrestricted deposits with the Federal Reserve of the United States of America 1,884,204 1,144,896 Cash and non-interest-bearing deposits in other banks 3,349 7,886 Cash and interest-bearing deposits in other banks (1) 159,899 88,804 Total cash and due from banks 2,047,452 1,241,586 Less: Time deposits with original maturity over 90 days and other restricted deposits (1) 60,384 50,650 Total cash and due from banks in the consolidated statement of cash flows 1,987,068 1,190,936 The following table presents the restricted deposits classified by country risk: December 31, 2023 2022 United States of America (1) 20,700 11,387 Japan 14,820 — Switzerland 13,747 16,797 Germany 5,775 5,380 Canada 5,342 — Spain — 12,814 United Kingdom — 4,272 Total 60,384 50,650 (1) As of December 31, 2023 includes restricted deposit of $18.0 million (December 31, 2022: $10.0 million) with the New York State Department of Financial Services under March 1994 legislation and margin call deposits collateralizing derivative financial instrument transactions.

Securities

Securities	12 Months Ended
	Dec. 31, 2023
Securities and other financial assets, net
Securities	Securities are presented as follows: December 31, 2023 Amortized cost FVOCI Total Principal 999,544 11,824 1,011,368 Interest receivable 12,354 41 12,395 Allowance (1) (1,632) — (1,632) 1,010,266 11,865 1,022,131 December 31, 2022 Amortized cost FVOCI Total Principal 941,971 77,972 1,019,943 Interest receivable 11,240 400 11,640 Allowance (1) (7,951) — (7,951) 945,260 78,372 1,023,632 (1) As of December 31, 2023 and 2022, the loss allowance for losses for securities at FVOCI for $1 thousand and $10 thousand, respectively are included in equity in the consolidated statement of financial position in the line Other comprehensive income. Securities by contractual maturity are shown in the following table: December 31, 2023 Amortized cost FVOCI Total Due within 1 year 157,376 — 157,376 After 1 year but within 5 years 813,012 11,824 824,836 After 5 years but within 10 years 29,156 — 29,156 Balance - principal 999,544 11,824 1,011,368 December 31, 2022 Amortized cost FVOCI Total Due within 1 year 222,666 77,972 300,638 After 1 year but within 5 years 711,328 — 711,328 After 5 years but within 10 years 7,977 — 7,977 Balance - principal 941,971 77,972 1,019,943 The following table includes the securities pledged to secure repurchase transactions (see note 19): December 31, 2023 2022 Securities pledged to secure repurchase transactions 342,271 345,187 Securities sold under repurchase agreements (310,197) (300,498) As of December 31, 2023, sales were made for $63.5 million of investments at amortized cost classified as Stage 2 with a significant increase in their credit risk. These sales resulted in write-off against reserves of $7.0 million and losses on sale of $3.9 million attributable to market risk. These sales were made based on compliance with the Bank's strategy to manage the credit risk of its investment portfolio.

Loans

Loans	12 Months Ended
	Dec. 31, 2023
Borrowings [abstract]
Loans	The following table presents the loan portfolio according to its classification and subsequent measurement: December 31, 2023 2022 Loans, outstanding balance 7,195,567 6,763,020 Interest receivable 109,082 69,965 Loss allowance (59,410) (55,200) Unearned interest and deferred fees (24,719) (17,351) Loans, net 7,220,520 6,760,434 The fixed and floating interest rate distribution of the loan portfolio is as follows: December 31, 2023 2022 Fixed interest rate 3,828,485 3,827,083 Floating interest rates 3,367,082 2,935,937 Total 7,195,567 6,763,020 As of December 31, 2023, and 2022, 71% and 79% of the loan portfolio at fixed interest rates has remaining maturities of less than 180 days. Interest rates on loans ranges from 1.95% to 16.01% (December 31, 2022: 1.27% to 15.32%). The following table details information relating to loans granted to class A and B shareholders: December 31, 2023 2022 Loans to class A and B shareholders 397,300 834,768 % Loans to class A and B shareholders over total loan portfolio 6 % 12 % % Class A and B stockholders with loans over number of class A and B stockholders 10 % 11 %

Loan commitments and financial

Loan commitments and financial guarantee contracts	12 Months Ended
	Dec. 31, 2023
Loan commitments and financial guarantee contracts
Loan commitments and financial guarantee contracts	In the normal course of business, to meet the financing needs of its customers, the Bank is party to loan commitments and financial guarantee contracts. These instruments involve, to varying degrees, elements of credit and market risk in excess of the amount recognized in the consolidated statement of financial position. Credit risk represents the possibility of loss resulting from the failure of a customer to perform in accordance with the terms of a contract. The Bank’s outstanding loan commitments and financial guarantee contracts are as follows: December 31, 2023 2022 Documentary letters of credit 345,608 304,789 Stand-by letters of credit and guarantees - commercial risk 490,626 351,625 Credit commitments 227,472 122,960 Total 1,063,706 779,374 The remaining maturity profile of the Bank’s outstanding loan commitments and financial guarantee contracts is as follows: December 31, 2023 2022 Up to 1 year 901,716 693,650 From 1 to 2 years 84,581 15,956 Over 2 to 5 years 77,409 69,768 Total 1,063,706 779,374

Gain (loss) on financial instru

Gain (loss) on financial instruments, net	12 Months Ended
	Dec. 31, 2023
Disclosure of detailed information about financial instruments [abstract]
Gain (loss) on financial instruments, net	12. Gain (loss) on financial instruments, net The amounts that were recognized in profit or loss related to the results of financial instruments are detailed below: December 31, 2023 2022 2021 Gain (loss) on derivative financial instruments and foreign currency exchange, net 3,813 (1,920) (1,870) Unrealized gain on financial instruments at FVTPL — — 227 Realized gain on financial instruments at FVTPL — 510 — (Loss) gain on sale of financial instruments at amortized cost (3,858) — 333 Realized gain on financial instruments at FVOCI — — 14 (45) (1,410) (1,296)

Derivative financial instrument

Derivative financial instruments	12 Months Ended
	Dec. 31, 2023
Derivative financial instruments
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: December 31, 2023 Notional amount Carrying amount of hedging Asset (1) Liability (1) Interest rate risk Fair value hedges 987,394 11,358 (790) Interest rate and foreign exchange risk Fair value hedges 374,654 38,088 (14,290) Cash flow hedges 1,303,388 107,821 (25,533) 2,665,436 157,267 (40,613) December 31, 2022 Notional amount Carrying amount of hedging Asset (1) Liability (1) Interest rate risk Fair value hedges 293,711 340 (543) Cash flow hedges 75,000 143 (1) Interest rate and foreign exchange risk Fair value hedges 252,793 4,129 (16,237) Cash flow hedges 922,777 41,677 (16,980) Foreign exchange risk Cash flow hedges 189,173 21,870 — 1,733,454 68,159 (33,761) (1) Included in the consolidated statement of financial position under the line Derivative financial instruments - assets or liabilities. As part of financial risk management, the Bank has used the following hedging relationships: - Fair value hedges. - Cash flow hedges. - Net investment hedges. For control purposes, derivative instruments are recorded at their notional amount in control accounts. Interest rate swaps are made either in a single currency or cross currency for a prescribed period to exchange a series of interest rate flows, which involve fixed for floating interest payments, and vice versa. The Bank also engages in certain foreign exchange forward contracts to serve customers’ transaction needs and to manage foreign currency risk. All such positions are hedged with an offsetting contract for the same currency. The Bank manages and controls the risks on these foreign exchange hedges by establishing counterparty credit limits by customer and by adopting policies that do not allow maintaining open positions in excess of the limits established by Management. The Bank also has used foreign exchange forward contracts to hedge the foreign exchange risk associated with the Bank’s equity investment in a non-U.S. dollar functional currency foreign entity. Derivative and foreign exchange forward instruments negotiated by the Bank are executed mainly over-the-counter (OTC). These contracts are executed between two counterparties that negotiate specific agreement terms, including notional amount, exercise price and maturity. A. Fair value hedges This type of hedge is used to mitigate the risk of changes in foreign exchange currency rates, as well as changes in interest rate risk. Within the derivative financial instruments used by the Bank for fair value hedging are interest rate swap contracts whereby a series of interest rate flows in a single currency are exchanged over a prescribed period and cross currency swaps contracts that generally involve the exchange of both interest and principal amounts in two different currencies. The Bank’s exposure to interest rate risk is disclosed in Note 5(C)(i). Interest rate risk to which the Bank applies hedge accounting arises from fixed and floating open positions, whose fair value fluctuates when benchmark interest rates change. The Bank hedges interest rate risk only to the extent of benchmark interest rates because the changes in fair value of a fixed-rate note or loan are significantly influenced by changes in the benchmark interest rate (USD Libor or SOFR). Hedge accounting is applied where economic hedging relationships meet the hedge accounting criteria. Before fair value hedge accounting is applied by the Bank, the Bank determines whether an economic relationship between t he hedged item and the hedging instrument exists based on an assessment of the qualitative characteristics of these items and the hedged risk that is supported by quantitative analysis. The Bank considers whether the critical terms of the hedged item and hedging instrument closely align when assessing the presence of an economic relationship. The Bank assesses whether the fair value of the hedged item and the hedging instrument respond similarly to similar risks. The Bank further supports this qualitative assessment by using sensitivity analysis applying a dollar-offset methodology to assess whether the hedging instrument is expected to be and has been highly effective in offsetting changes in the fair value of the hedged item. The sources of ineffectiveness mainly come from forward rates, discount rates and cross currency basis (cost of the operation). The Bank maintains as part of its risk management, second level fair value hedges composed of combined derivative and non-derivative exposures (aggregate exposures). The components comprising such aggregate exposures are previously designated under cash flow hedging relationships. A. Fair value hedges (continued) 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: December 31, 2023 Notional amount Carrying amount of 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 10,000 — (519) (113) 7 Securities at amortized cost 10,000 101 — (109) 144 Deposits 307,000 3,564 — 600 12 Borrowings and debt 660,394 7,693 (271) 5,152 176 Interest rate and foreign exchange risk Borrowings and debt 374,654 38,088 (14,290) 36,710 2,908 Total 1,362,048 49,446 (15,080) 42,240 3,247 December 31, 2022 Notional amount Carrying amount of 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 155,511 134 (543) 1,607 (18) Securities at amortized cost 10,000 178 — 167 (62) Borrowings and debt 128,200 28 — (3,457) (111) Interest rate and foreign exchange risk Loans 1,938 108 — (227) (129) Borrowings and debt 250,855 4,021 (16,237) 8,072 (1,548) Total 546,504 4,469 (16,780) 6,162 (1,868) (1) Included in the consolidated statement of financial position under the line Derivative financial instruments - assets or liabilities. (2) Included in the consolidated statement of profit or loss under the line Loss on financial instruments, net. A. Fair value hedges (continued) The following table details the 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: December 31, 2023 Carrying amount of Line in the consolidated Accumulated amount of Changes in fair value of the hedged items used to calculate hedge ineffectiveness (1) Asset Liability Interest rate risk Loans 10,664 — Loans, net (136) 120 Securities at amortized cost 10,055 — Securities, net 26 253 Deposits — (236,942) Deposits (588) (588) Borrowings and debt — (344,605) Borrowings and debt, net (1,626) (4,976) Interest rate and foreign exchange risk Borrowings and debt — (402,377) Borrowings and debt, net (21,737) (33,802) Total 20,719 (983,924) (24,061) (38,993) December 31, 2022 Carrying amount of Line in the consolidated Accumulated amount of Changes in fair value of the hedged items used to calculate hedge ineffectiveness (1) Asset Liability Interest rate risk Loans 157,136 — Loans, net (1,625) (1,625) Securities at amortized cost 9,654 — Securities, net (229) (229) Borrowings and debt — (129,306) Borrowings and debt, net 3,350 3,346 Interest rate and foreign exchange risk Loans 1,839 — Loans, net (580) 98 Borrowings and debt — (243,851) Borrowings and debt, net 11,612 (9,620) Total 168,629 (373,157) 12,528 (8,030) (1) Included in the consolidated statement of profit or loss under the line Loss on financial instruments, net. A. Fair value hedges (continued) The following table details the maturity of the notional amount for the derivative instruments used in fair value hedges: December 31, 2023 Interest rate Cross currency swaps Total Less than 1 year 434,420 235,973 670,393 Over 1 to 2 years 50,263 — 50,263 Over 2 to 5 years 476,311 128,556 604,867 More than 5 years 26,400 10,125 36,525 Total 987,394 374,654 1,362,048 December 31, 2022 Interest rate Cross currency swaps Total Less than 1 year 145,511 1,937 147,448 Over 1 to 2 years 20,000 153,415 173,415 Over 2 to 5 years 128,200 87,316 215,516 More than 5 years — 10,125 10,125 Total 293,711 252,793 546,504 The following table details the ineffectiveness recognized in profit or loss for the derivative instruments used in fair value hedges: December 31, 2023 Current Overdue Total Ineffectiveness recognized in profit or loss Interest rate risk Loans 7 7 14 Securities at amortized cost 144 — 144 Deposits 12 — 12 Borrowings and debt 176 — 176 Interest rate and foreign exchange risk Loans — (26) (26) Borrowings and debt 2,908 — 2,908 Total 3,247 (19) 3,228 A. Fair value hedges (continued) December 31, 2022 Current Overdue Total Ineffectiveness recognized in profit or loss Interest rate risk Loans (18) — (18) Securities at amortized cost (62) — (62) Borrowings and debt (117) 6 (111) Interest rate and foreign exchange risk Loans (129) — (129) Borrowings and debt (2,775) 1,227 (1,548) Total (3,101) 1,233 (1,868) B. Cash flow hedges This type of hedge is used to mitigate the risk of changes in foreign exchange currency rates, as well as changes in interest rate risk, that could include variability in the future cash flows. Within the derivative financial instruments used by the Bank for cash flow hedging are interest rate swaps contracts whereby a series of interest rate flows in a single currency are exchanged over a prescribed period, cross currency swaps contracts that generally involve the exchange of both interest and principal amounts in two different currencies, and foreign exchange forward contracts, an agreement to purchase or sell foreign currency at a future date at agreed-upon terms. The Bank’s exposure to market risk is disclosed in Note 5 (C) (i) and (ii). The Bank determines the amount of the exposure to which it applies hedge accounting by assessing the potential impact of changes in interest rates and foreign currency exchange rates on the future cash flows. This assessment is performed using analytical techniques, such as cash flow sensitivity analysis. As noted above for fair value hedges, by using derivative financial instruments to hedge exposures to changes in interest rates and foreign currency exchange rates, the Bank exposes itself to credit risk of the counterparties to the derivatives, which is not offset by the hedged items. This exposure is managed similarly to that of fair value hedges. The Bank determines whether an economic relationship exists between the cash flows of the hedged item and the hedging instrument based on an assessment of the qualitative characteristics of these items and the hedged risk that is supported by quantitative analysis. The Bank considers whether the critical terms of the hedged item and the hedging instrument clo sely align when assessing the presence of an economic relationship. The Bank assesses whether the cash flows of the hedged item and the hedging instrument respond similarly to the hedged risk, such as the benchmark interest rate or foreign currency. The Bank further supports this qualitative assessment by using sensitivity analysis applying a dollar-offset methodology to assess whether the hedging instrument is expected to be and has been highly effective in offsetting changes in the present value of the hedged item. The Bank assesses hedge effectiveness using the hypothetical derivative method, which creates a derivative instrument to serve as a proxy for the hedged transaction. The terms of the hypothetical derivative match the critical terms of the hedged item and it has a fair value of zero at inception. The sources of ineffectiveness arise mainly from CVA/DVA counterparty risk made in the hedging instrument, which are not contemplated in the methodology of hypothetical derivative used to measure the ineffectiveness of the hedge. B. Cash flow hedges (continued) The maximum length of time over which the Bank has hedged its exposure to the variability in future cash flows on forecasted transactions is 6 years. 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: December 31, 2023 Carrying amount of Change in fair Changes in the OCI (2) Ineffectiveness (3) Amount or loss (4) Notional amount Asset (1) Liability (1) Interest rate and foreign exchange risk Borrowings and debt 1,303,388 107,821 (25,533) 65,005 65,286 281 (682) Foreign exchange risk Deposits — — — — — — 57 Borrowings and debt — — — — — — 142 Total 1,303,388 107,821 (25,533) 65,005 65,286 281 (483) December 31, 2022 Carrying amount of Change in fair Changes in the OCI (2) Ineffectiveness (3) Amount or loss (4) Notional amount Asset (1) Liability (1) Interest rate risk Borrowings and debt 75,000 143 (1) 550 551 1 — Interest rate and foreign exchange risk Borrowings and debt 922,777 41,677 (16,980) 28,211 27,061 (1,150) 4,914 Foreign exchange risk Deposits 8,534 37 — 37 37 — — Borrowing and Debt 180,639 21,833 — 21,833 21,833 — — Total 1,186,950 63,690 (16,981) 50,631 49,482 (1,149) 4,914 (1) Included in the consolidated statement of financial position under the line Derivative financial instruments - assets or liabilities. (2) Included in equity in the consolidated statement of financial position under the line Other comprehensive income (loss). (3) Hedge ineffectiveness attributable to matured hedges included in the consolidated statement of profit or loss in the line Loss on financial instruments, net. (4) Hedging reserve attributable to expired hedges reclassified to the consolidated statement of profit or loss in the line Loss on financial instruments, net. B. Cash flow hedges (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: December 31, 2023 Carrying amount of Line in the Changes in the fair value ineffectiveness Cash flow Asset Liability Interest rate and foreign exchange risk Borrowings and debt — (1,398,323) Borrowings and debt, net (65,005) (7,458) Total — (1,398,323) (65,005) (7,458) December 31, 2022 Carrying amount of Line in the Changes in the fair value ineffectiveness Cash flow Asset Liability Interest rate risk Borrowings and debt — (75,695) Borrowings and debt, net (551) (97) Interest rate and foreign exchange risk Borrowings and debt — (943,942) Borrowings and debt, net (27,061) (8,836) Foreign exchange risk Deposits — (8,566) Demand deposits (37) (44) Borrowings and debt — (196,646) Borrowings and debt, net (21,833) 1,836 Total — (1,224,849) (49,482) (7,141) B. Cash flow hedges (continued) The following table details the maturity of the derivative instruments used in cash flow hedges: December 31, 2023 Foreign Interest Cross currency swaps Total Less than 1 year — — 643,464 643,464 Over 1 to 2 years — — 206,496 206,496 Over 2 to 5 years — — 409,742 409,742 More than 5 years — — 43,686 43,686 Total — — 1,303,388 1,303,388 December 31, 2022 Foreign Interest Cross currency swaps Total Less than 1 year 189,173 75,000 388,035 652,208 Over 1 to 2 years — — 194,639 194,639 Over 2 to 5 years — — 322,817 322,817 More than 5 years — — 17,286 17,286 Total 189,173 75,000 922,777 1,186,950 B. Cash flow hedges (continued) The following table details the ineffectiveness recognized in profit or loss for the derivative instruments used in cash flow hedges: December 31, 2023 Current Overdue Total Ineffectiveness recognized in profit or loss Interest rate and foreign exchange risk Borrowings and debt 281 (682) (401) Foreign exchange risk Deposits — 57 57 Borrowings and debt — 142 142 Total 281 (483) (202) December 31, 2022 Current Overdue Total Ineffectiveness recognized in profit or loss Interest rate risk Borrowings and debt 1 — 1 Interest rate hedges Borrowings and debt (473) (677) (1,150) Total (472) (677) (1,149)

Gain (loss) on non - financial

Gain (loss) on non - financial assets, net	12 Months Ended
	Dec. 31, 2023
Gain (loss) on non - financial assets, net
Gain (loss) on non - financial assets, net	The gain or loss on non-financial assets is presented as follows: December 31, 2023 2022 2021 Gain on investment property - Right-of-use — — 742 At the end of 2021, the Bank's Management renegotiated the terms and conditions of the lease agreement relating to the Head Office. Such negotiation included the assignment to the lessor of the sublease agreement that was maintained as operating lease and classified as Investment Properties - Right-of-use. As the result of the assignment of the sublease agreement, the Bank derecognized the entire investment property arising from right-of-use assets, as well as its associated lease liability, originating a gain of $742 thousand.

Equipment and leasehold improve

Equipment and leasehold improvements	12 Months Ended
	Dec. 31, 2023
Disclosure of detailed information about property, plant and equipment [abstract]
Equipment and leasehold improvements	The following table provides a summary of the items included in equipment and leasehold improvements: December 31, 2023 2022 Equipment and leasehold improvements, net 4,041 4,441 Right-of-use assets 12,753 12,841 16,794 17,282 Equipment and leasehold improvements are detailed as follows: IT equipment Furniture and Leasehold Other Total Cost: Balance as of January 1, 2021 4,136 1,677 7,428 2,572 15,813 Additions 402 4 26 21 453 Disposals (58) (3) — (1,906) (1,967) Effect of changes in exchange rates (5) (1) (4) — (10) Reclassifications 1 — — — 1 Balance as of December 31, 2021 4,476 1,677 7,450 687 14,290 Additions 599 165 852 35 1,651 Disposals (1,136) (36) (4) (6) (1,182) Effect of changes in exchange rates 2 2 3 1 8 Balance as of December 31, 2022 3,941 1,808 8,301 717 14,767 Additions 369 92 124 176 761 Disposals (28) (83) (117) (49) (277) Effect of changes in exchange rates 5 3 5 — 13 Balance as of December 31, 2023 4,287 1,820 8,313 844 15,264 Accumulated depreciation: Balance as of January 1, 2021 3,340 1,601 3,830 2,052 10,823 Amortization 566 41 549 190 1,346 Disposals (57) (3) — (1,652) (1,712) Effect of changes in exchange rates (3) (2) (4) — (9) Reclassifications — 1 — — 1 Balance as of December 31, 2021 3,846 1,638 4,375 590 10,449 Amortization 430 32 531 57 1,050 Disposals (1,133) (35) (4) (4) (1,176) Effect of changes in exchange rates (1) 1 4 (1) 3 Balance as of December 31, 2022 3,142 1,636 4,906 642 10,326 Amortization 449 54 589 69 1,161 Disposals (25) (83) (117) (49) (274) Effect of changes in exchange rates 4 1 5 — 10 Balance as of December 31, 2023 3,570 1,608 5,383 662 11,223 Carrying amounts as of: December 31, 2023 717 212 2,930 182 4,041 December 31, 2022 799 172 3,395 75 4,441 December 31, 2021 630 39 3,075 97 3,841 15. Equipment and leasehold improvements (continued) Leases The following is the detail of the movement of right-of-use assets on the leases for which the Bank is a lessee: December 31, 2023 2022 Initial balance 12,841 13,938 Additions 1,388 7 Depreciation of right-of-use assets (1,119) (1,104) Decrease (357) — Ending balance 12,753 12,841 The Bank leases office spaces in buildings. The lease of head office space typically runs for a period of 15 years, and for the representative offices from 3 to 5 years. Some leases include an option to renew the lease for a similar additional period after the end of the contract term.

Intangible assets

Intangible assets	12 Months Ended
	Dec. 31, 2023
Disclosure of detailed information about intangible assets [abstract]
Intangible assets	A breakdown of software cost, accumulated amortization, additions, sales and disposals of intangible assets is as follows: Costs: Balance as of January 1, 2021 15,711 Additions 353 Disposals (6,278) Balance as of December 31, 2021 9,786 Additions 1,070 Balance as of December 31, 2022 10,856 Additions 1,335 Disposals (150) Balance as of December 31, 2023 12,041 Accumulated amortization: Balance as of January 1, 2021 13,727 Amortization 742 Disposals (6,278) Balance as of December 31, 2021 8,191 Amortization 561 Balance as of December 31, 2022 8,752 Amortization 814 Disposals (130) Balance as of December 31, 2023 9,436 Carrying amounts as of: December 31, 2023 2,605 December 31, 2022 2,104 December 31, 2021 1,595

Other assets

Other assets	12 Months Ended
	Dec. 31, 2023
Other Assets1 [Abstract]
Other assets	Following is a summary of other assets: December 31, 2023 2022 Accounts receivable financial instruments 4,844 961 Prepaid expenses 2,174 1,120 Prepaid fees and commissions 451 325 Interest receivable - deposits 1,603 751 IT projects under development 1,802 425 Improvement project under development 396 — Severance fund 2,169 2,026 Other 2,156 1,760 Total 15,595 7,368

Deposits

Deposits	12 Months Ended
	Dec. 31, 2023
Deposits
Deposits	The maturity profile of the Bank’s deposits, excluding interest payable, is as follows: Remaining Term Original Term December 31, December 31, 2023 2022 2023 2022 Demand 510,195 233,756 510,195 233,757 Up to 1 month 2,026,454 1,630,484 1,336,379 999,043 From 1 month to 3 months 704,765 887,232 758,728 969,960 From 3 month to 6 months 517,359 250,300 675,106 385,972 From 6 month to 1 year 570,033 153,862 892,221 554,402 From 1 year to 2 years 77,843 18,787 216,430 31,287 From 2 years to 5 years 1,500 16,295 19,090 16,295 Total 4,408,149 3,190,716 4,408,149 3,190,716 The following table presents additional information regarding the Bank’s deposits: December 31, 2023 2022 Aggregate amount of $100,000 or more 4,407,608 3,190,376 Aggregate amount of deposits in the New York Agency 1,250,524 526,474 December 31, 2023 2022 2021 Interest expense on deposits made in the New York Agency 53,885 12,334 3,852

Securities sold under repurchas

Securities sold under repurchase agreements	12 Months Ended
	Dec. 31, 2023
Securities sold under repurchase agreements
Securities sold under repurchase agreements	The following table details the financing transactions under repurchase agreements and the associated interest expense: December 31, 2023 2022 2021 Financing transactions under repurchase agreements 310,197 300,498 427,498 Interest expense related to financing transactions 9,232 7,340 956

Borrowings and debt

Borrowings and debt	12 Months Ended
	Dec. 31, 2023
Borrowings and debt
Borrowings and debt	Borrowings consist of bilateral funding and syndicated loans obtained from international banks. Debt instruments consist of public and private issuances under the Bank's Euro Medium-Term Notes (“EMTN”) Program as well as the Short-a nd Long-Term Notes (“Certificados Bursatiles”) Program (the “Mexican Program”) in the Mexican local market as well as a Revolving Corporate Bond Program in Panama with a maximum amount of $300 million for the issuance of short and long term notes. The Bank’s funding activities include: (i) EMTN, which may be used to issue notes for up to $2.250 million, with maturities from 7 days up to a maximum of 30 years, at fixed or floating interest rates, or at discount, and in various currencies. The notes are generally issued in bearer or registered form through one or more authorized financial institutions; (ii) Short-and Long-Term Notes (“Certificados Bursatiles”) Program (the “Mexican Program”) in the Mexican local market, registered with the Mexican National Registry of Securities administered by the National Banking and Securities Commission of Mexico (“CNBV”, for its acronym in Spanish), for an authorized aggregate principal amount of 25 billion Mexican pesos with maturities from 1 day to 30 years (iii) a short and long term Revolving Corporate Bond Program in the Panamanian local market with a maximum amount of $300 million. Some borrowing agreements include various events of default and covenants relating to minimum capital adeq uacy ratios, incurrence of additional liens, and asset sales, as well as other customary covenants, representations and warranties. As of December 31, 2023, the Bank was in compliance with all those covenants. Carrying amount of borrowings and debt is detailed as follows: December 31, 2023 Short-Term Long-term Borrowings Debt Borrowings Debt Total Principal 1,638,306 86,601 537,775 2,097,820 4,360,502 Transaction costs (262) (40) (1,904) (6,308) (8,514) 1,638,044 86,561 535,871 2,091,512 4,351,988 December 31, 2022 Short-Term Long-term Borrowings Debt Borrowings Debt Total Principal 2,153,351 42,255 650,275 1,580,727 4,426,608 Transaction costs (1,376) (5) (2,952) (5,764) (10,097) 2,151,975 42,250 647,323 1,574,963 4,416,511 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, plus prepaid commissions, is as follows: December 31, 2023 2022 Short-term borrowings: At fixed interest rates 732,336 1,584,776 At floating interest rates 905,970 568,575 Principal 1,638,306 2,153,351 Less: Transaction costs (262) (1,376) Total short-term borrowings, net 1,638,044 2,151,975 Short-term debt: At fixed interest rates 1,536 — At floating interest rates 85,065 42,255 Principal 86,601 42,255 Less: Transaction costs (40) (5) Total short-term debt, net 86,561 42,250 Total short-term borrowings and debt 1,724,605 2,194,225 Range of fixed interest rates on borrowings and debt in U.S. dollars 5.44% to 6.50% 1.53% to 6.52% Range of floating interest rates on borrowings in U.S. dollars 6.08% to 6.33% 4.90% to 5.72% Range of floating interest rates on borrowings and debt in Mexican pesos 11.77% to 12.65% 10.97% to 12.00% Range of floating interest rates on borrowings and debt in Euros 4.51% to 4.69% — % Range of fixed interest rates on borrowings and debt in Japanese yen — % 0.84% to 1.23% The outstanding balances of short-term borrowings and debt by currency, excluding prepaid commissions, are as follows: December 31, 2023 2022 US dollar 1,084,872 1,593,531 Mexican peso 576,527 405,830 Euro 63,508 — Japanese yen — 196,245 Carrying amount - principal 1,724,907 2,195,606 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: December 31, 2023 2022 Long-term borrowings: At fixed interest rates — 75,000 At floating interest rates with due dates from May 2024 to May 2026 537,775 575,275 Principal 537,775 650,275 Less: Transaction costs (1,904) (2,952) Total long-term borrowings, net 535,871 647,323 Long-term debt: At fixed interest rates with due dates from March 2024 to November 2034 1,456,290 1,136,743 At floating interest rates with due dates from November 2024 to August 2028 641,530 443,984 Principal 2,097,820 1,580,727 Less: Transaction costs (6,308) (5,764) Total long-term debt, net 2,091,512 1,574,963 Total long-term borrowings and debt, net 2,627,383 2,222,286 Range of fixed interest rates on borrowings and debt in U.S. dollars 1.35% to 6.15% 0.80% to 5.81% Range of floating interest rates on borrowings and debt in U.S. dollars 6.32% to 7.31% 4.96% to 6.04% Range of fixed interest rates on borrowings and debt in Mexican pesos 6.50% to 10.78% 6.50% to 9.20% Range of floating interest rates on borrowings and debt in Mexican pesos 11.70% to 11.95% 10.55% to 10.93% Range of fixed interest rates on debt in Japanese yens 0.40% to 1.35% 0.40% to 1.27% Range of fixed interest rates on debt in Euros 0.90% to 3.75% 0.23% to 3.75% Range of fixed interest rates on debt in Australian dollars 1.41% to 6.81% 1.41% to 6.81% Range of fixed interest rates on debt in Sterling pounds 1.50 % 1.50 % Range of fixed interest rates on debt in Swiss francs 0.35 % 0.35 % Long-term borrowings and debt (continued) The outstanding balances of long-term borrowings and debt by currency, excluding prepaid commissions, are as follows: December 31, 2023 2022 US dollar 1,149,021 1,155,275 Mexican peso 1,241,023 845,867 Euro 88,018 111,095 Japanese yen 113,642 76,513 Australian dollar 27,286 26,968 Swiss franc 11,889 10,820 Sterling pound 4,716 4,464 Carrying amount - principal 2,635,595 2,231,002 Future payments of long-term borrowings and debt outstanding as of December 31, 2023, are as follows: Year Outstanding 2024 637,998 2025 1,005,496 2026 516,223 2027 311,123 2028 112,345 2029 42,162 2034 10,248 Carrying amount - principal 2,635,595 The following table presents the reconciliation of movements of borrowings and debt arising from financing activities, as presented in the consolidated statement of cash flows : 2023 2022 2021 Balance as of January 1, 4,416,511 3,304,178 1,966,271 Net (decrease) increase in short-term borrowings and debt (500,650) 579,065 1,196,710 Proceeds from long-term borrowings and debt 496,342 1,038,110 266,640 Payments of long-term borrowings and debt (221,306) (536,792) (97,520) Change in foreign currency rates 157,440 45,460 (27,528) Fair value adjustment due to hedge accounting relationship 2,126 (9,334) (2,034) Other adjustments 1,525 (4,176) 1,639 Balance as of December 31, 4,351,988 4,416,511 3,304,178 The reconciliation of the movements of the equity accounts that are part of the financing activities are presented in the consolidated statement of changes in equity.

Lease liabilities

Lease liabilities	12 Months Ended
	Dec. 31, 2023
Subclassifications of assets, liabilities and equities [abstract]
Lease liabilities	Maturity analysis of contractual undiscounted cash flows of the lease liabilities is detailed below: December 31, 2023 2022 Due within 1 year 1,717 1,506 After 1 year but within 5 years 6,540 7,210 After 5 years but within 10 years 12,368 12,330 Total undiscounted lease liabilities 20,625 21,046 Short-term 1,143 965 Long-term 15,564 15,780 Lease liabilities included in the consolidated statement of financial position 16,707 16,745 Amounts recognized in the consolidated statement of cash flows: December 31, 2023 2022 Payments of lease liabilities 1,032 995

Other liabilities

Other liabilities	12 Months Ended
	Dec. 31, 2023
Other Liabilities1 [Abstract]
Other liabilities	22. Other liabilities Following is a summary of other liabilities: December 31, 2023 2022 Accruals and other accumulated expenses 24,120 16,812 Funds received for debt repayment 14,735 — Accounts payable 5,143 7,269 Unearned commissions 9,652 2,646 Other 84 84 Total 53,734 26,811

Earnings per share

Earnings per share	12 Months Ended
	Dec. 31, 2023
Earnings per share
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: December 31, 2023 2022 2021 (Thousands of US$ dollars) Profit for the year 166,158 92,040 62,697 (U.S. dollars) Basic earnings per share 4.55 2.54 1.62 (Thousands of shares) Weighted average of common shares outstanding applicable to basic EPS 36,481 36,304 38,796

Capital and Reserves

Capital and Reserves	12 Months Ended
	Dec. 31, 2023
Capital and Reserves
Capital and Reserves	A. Common stock and additional paid-in capital Common stock The Bank’s common stock is divided into four categories: 1) “Class A”; shares may only be issued to Latin American Central Banks or banks in which the state or other government agency is the majority shareholder. 2) “Class B”; shares may only be issued to banks or financial institutions. 3) “Class E”; shares may be issued to any person whether a natural person or a legal entity. 4) “Class F”; may only be issued to state entities and agencies of non-Latin American countries, including, among others, central banks and majority state-owned banks in those countries, and multilateral financial institutions either international or regional institutions. The holders of “Class B” shares have the right to convert or exchange their “Class B” shares, at any time, and without restriction, for “Class E” shares, exchanging one share for another share. The following table provides detailed information on the movement of the shares by class for each of the years ended December 31, 2023, 2022 and 2021: (Share units) “Class A” “Class B” “Class E” “Class F” Total Authorized 40,000,000 40,000,000 100,000,000 100,000,000 280,000,000 Outstanding at January 1, 2021 6,342,189 2,178,365 31,157,386 — 39,677,940 Conversions — (89,290) 89,290 — — Repurchased common stock — — (3,558,093) — (3,558,093) Restricted stock issued – directors — — 63,000 — 63,000 Restricted stock units – vested — — 48,299 — 48,299 Outstanding at December 31, 2021 6,342,189 2,089,075 27,799,882 — 36,231,146 Restricted stock issued – directors — — 57,000 — 57,000 Restricted stock units – vested — — 36,410 — 36,410 Outstanding at December 31, 2022 6,342,189 2,089,075 27,893,292 — 36,324,556 Restricted stock issued – directors — — 63,000 — 63,000 Restricted stock units – vested — — 152,305 — 152,305 Outstanding at December 31, 2023 6,342,189 2,089,075 28,108,597 — 36,539,861 Additional paid-in capital As of December 31, 2023, 2022 and 2021, additional paid-in capital consists of additional cash contributions to the common capital paid by shareholders. B. Treasury stock The following table presents information regarding shares repurchased but not retired by the Bank and accordingly classified as treasury stock: “Class A” “Class B” “Class E” Total Shares Amount Shares Amount Shares Amount Shares Amount Outstanding at January 1, 2021 318,140 10,708 689,367 18,711 1,294,390 28,580 2,301,897 57,999 Repurchase of common stock — — — — 3,558,093 60,079 3,558,093 60,079 Restricted stock issued - directors — — — — (63,000) (1,391) (63,000) (1,391) Restricted stock units - vested — — — — (48,299) (888) (48,299) (888) Outstanding at December 31, 2021 318,140 10,708 689,367 18,711 4,741,184 86,380 5,748,691 115,799 Restricted stock issued - directors — — — — (57,000) (1,039) (57,000) (1,039) Restricted stock units - vested — — — — (36,410) (663) (36,410) (663) Outstanding at December 31, 2022 318,140 10,708 689,367 18,711 4,647,774 84,678 5,655,281 114,097 Restricted stock issued - directors — — — — (63,000) (1,148) (63,000) (1,148) Restricted stock units - vested — — — — (152,305) (2,775) (152,305) (2,775) Outstanding at December 31, 2023 318,140 10,708 689,367 18,711 4,432,469 80,755 5,439,976 110,174 In May 2021, the Bank announced a $60 million common stock repurchase program which ended in December 2021. Through the program, the Bank repurchased a total of 3,558,093 Class E shares, representing approximately 10% of the total outstanding shares at a volume-weighted average price per share of $16.86.

Other comprehensive income

Other comprehensive income	12 Months Ended
	Dec. 31, 2023
Other comprehensive income [abstract]
Other comprehensive income	The breakdown of other comprehensive income (loss) relating to financial instruments at FVOCI, derivative financial instruments, and foreign currency translation is as follows: Financial instruments FVOCI Financial Foreign Total Balance as of January 1, 2021 141 515 (448) 208 Change in fair value on financial instruments, net of hedging (560) (11,692) — (12,252) Reclassification of gains (losses) on financial instruments to profit or loss (1) 24 24 — 48 Exchange difference in conversion of foreign currency operation — — 448 448 Other comprehensive income (loss) for the year (536) (11,668) 448 (11,756) Balance as of December 31, 2021 (395) (11,153) — (11,548) Change in fair value on financial instruments, net of hedging (467) 20,080 — 19,613 Reclassification of gains (losses) on financial instruments to profit or loss (1) — 60 — 60 Other comprehensive income (loss) for the year (467) 20,140 — 19,673 Balance as of December 31, 2022 (862) 8,987 — 8,125 Change in fair value on financial instruments, net of hedging 876 (590) — 286 Reclassification of gains (losses) on financial instruments to profit or loss (1) (11) (938) — (949) Other comprehensive income (loss) for the year 865 (1,528) — (663) Balance as of December 31, 2023 3 7,459 — 7,462 (1) Reclassification adjustments include amounts recognized in profit or loss of the year that had been part of other comprehensive income in this and prior years. The following table presents amounts reclassified from other comprehensive income to profit or loss: Details about other comprehensive income components Amounts reclassified from other Line item affected in the December 31, 2023 2022 2021 Securities at FVOCI: — — 41 Net gain (loss) on financial instruments (11) — (17) Provision for credit losses (11) — 24 Derivative financial instruments: Foreign exchange forwards — (433) (2,167) Interest income – loans 4,877 1,851 — Interest expense – borrowings and deposits (1,793) — 24 Gain (loss) on financial instruments, net Interest rate and cross-currency swaps 855 60 — Gain (loss) on financial instruments, net 3,939 1,478 (2,143)

Fee and commission income

Fee and commission income	12 Months Ended
	Dec. 31, 2023
Fee and commission income [abstract]
Fee and commission income	Fee and commission income Fee and commission income from contracts with customers broken down by main types of services, are detailed as follows: December 31, 2023 2022 2021 Structured loans 7,427 4,926 4,269 Documentary and stand-by letters of credit 20,844 14,033 12,119 Other commissions, net 4,248 832 1,910 Total 32,519 19,791 18,298 The following table provides information on the ordinary income that is expected to be recognized on the existing contracts: December 31, Up to 1 year 4,553 From 1 to 2 years 1,370 More than 2 years 2,361 Total 8,284

Business segment information

Business segment information	12 Months Ended
	Dec. 31, 2023
Business segment information
Business segment information	Business segment information The following table provides certain information regarding the Bank’s operations by segment: December 31, 2023 Commercial Treasury Total Interest income 566,212 113,048 679,260 Interest expense (467) (445,610) (446,077) Inter-segment net interest income (361,997) 361,997 — Net interest income 203,748 29,435 233,183 Other income (expense), net 33,792 (856) 32,936 Total income 237,540 28,579 266,119 Provision for credit losses (26,785) (678) (27,463) Operating expenses (57,324) (15,174) (72,498) Segment profit (loss) 153,431 12,727 166,158 Segment assets 7,498,230 3,231,534 10,729,764 Segment liabilities 279,853 9,206,381 9,486,234 December 31, 2022 Commercial Treasury Total Interest income 289,785 42,836 332,621 Interest expense (463) (184,147) (184,610) Inter-segment net interest income (155,968) 155,968 — Net interest income 133,354 14,657 148,011 Other income (expense), net 20,809 (2,148) 18,661 Total income 154,163 12,509 166,672 Provision for credit losses (13,376) (6,145) (19,521) Operating expenses (43,156) (11,955) (55,111) Segment profit (loss) 97,631 (5,591) 92,040 Segment assets 6,940,335 2,336,958 9,277,293 Segment liabilities 180,369 8,007,383 8,187,752 December 31, 2021 Commercial Treasury Total Interest income 129,758 11,125 140,883 Interest expense (648) (53,453) (54,101) Inter-segment net interest income (45,318) 45,318 — Net interest income 83,792 2,990 86,782 Other income (expense), net 19,188 (1,764) 17,424 Total income 102,980 1,226 104,206 (Provision for) reversal of credit losses (1,050) (1,278) (2,328) Gain on non-financial assets, net 742 — 742 Operating expenses (30,751) (9,172) (39,923) Segment profit (loss) 71,921 (9,224) 62,697 Segment assets 5,931,201 2,098,492 8,029,693 Segment liabilities 219,505 6,812,455 7,031,960 The following table shows the reconciliation of information by business segment: December 31, 2023 2022 2021 Profit for the year 166,158 92,040 62,697 Assets: Assets from reportable segments 10,729,764 9,277,293 8,029,693 Other assets - unallocated 14,028 6,617 8,418 Total 10,743,792 9,283,910 8,038,111 Liabilities: Liabilities from reportable segments 9,486,234 8,187,752 7,031,960 Other liabilities - unallocated 53,734 26,811 14,361 Total 9,539,968 8,214,563 7,046,321 Geographic information The geographic information analyzes the Bank’s income and non-current assets by the Bank’s. In presenting the geographic information below, segment revenue is based on customer’s country risk and segment non-current assets are based on the geographic location of the assets. December 31, 2023 2022 2021 Total revenues Non-current assets (*) Total revenues Non-current assets (*) Total revenues Non-current assets (*) Argentina 4,748 80 4,721 117 5,454 157 Brazil 25,630 292 15,100 125 9,802 138 Chile 11,273 — 8,072 — 3,180 — Colombia 32,584 181 16,192 35 12,116 51 Costa Rica 10,358 — 9,161 — 7,674 — Dominican Republic 20,164 — 9,325 — 3,424 — Ecuador 15,107 — 12,576 — 8,990 — El Salvador 2,209 — 2,297 — 1,207 — Guatemala 24,061 — 16,961 — 10,862 — Honduras 6,312 — 6,081 — 841 — Jamaica 3,337 — 2,525 — 1,646 — Mexico 35,442 400 24,767 14 17,318 75 Panama 6,753 18,119 6,015 18,994 5,872 18,795 Paraguay 2,734 — 2,488 — 1,529 — Peru 20,501 — 8,733 — 3,299 — Trinidad and Tobago 6,832 — 6,330 — 7,215 — Uruguay 1,208 — 1,533 — 540 — Other countries (1) 36,866 327 13,795 101 3,237 158 Total revenues 266,119 19,399 166,672 19,386 104,206 $ 19,374 (1) Other countries consists of total income per country in the Region in which total income did not exceed $1 million for any of the periods indicated above and top-rated countries outside of Latin America. (*) Includes equipment and leasehold improvements,net, intangible assets and investment properties. Information about the main clients As of December 31, 2023, 2022, and 2021, the Bank has no customer, either individually or as group of companies, that represents more than 10% of total revenues.

Related party transactions

Related party transactions	12 Months Ended
	Dec. 31, 2023
Related party transactions
Related party transactions	Related party transactions The detail of the assets and liabilities with related private corporations and financial institutions is as follows: December 31, 2023 2022 Assets: Demand deposits 2,263 5,986 Loans, net 61,440 242,024 Securities at amortized cost, net 14,373 19,593 Total 78,076 267,603 Liabilities: Time deposits 319,344 567,451 Total 319,344 567,451 Contingencies: Stand-by letters of credit 150 3,350 Loss allowance — (16) The detail of income and expenses with related parties is as follows: December 31, 2023 2022 2021 Interest income: Loans 3,104 4,719 211 Securities at amortized cost 331 685 — Total 3,435 5,404 211 Interest expense: Deposits (14,477) (10,943) (1,866) Net interest income (expenses) (11,042) (5,539) (1,655) Other income (expense): Fees and commissions, net 427 116 216 Loss on financial instruments, net — 74 — Total 427 190 216 Net income (loss) from related parties (10,615) (5,349) (1,439) The total compensation paid to directors and the executives as representatives of the Bank amounted to: December 31, 2023 2022 2021 Expenses: Compensation costs to directors 1,910 1,853 1,877 Compensation costs to executives 8,067 4,302 4,083 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, see Note 29.

Salaries and other employee exp

Salaries and other employee expenses	12 Months Ended
	Dec. 31, 2023
Salaries and other employee expenses
Salaries and other employee expenses	Salaries and other employee expenses The following table details salaries and other employee expenses: December 31, 2023 2022 2021 Wages and salaries 20,837 18,135 13,803 Payroll taxes 2,809 2,196 1,731 Personnel benefits 19,047 12,344 5,134 Share-based payments 4,539 1,544 984 Total 47,232 34,219 21,652 A. 2015 Stock Incentive Plan – Directors and Executives In February 2008, the Board of Directors of the Bank approved an incentive plan for directors and executives allowing the Bank to grant restricted stock, restricted stock units, stock purchase options, and/or other similar compensation instruments and established service requirements as the sole condition of vesting. The maximum aggregate number of shares which may be granted under this plan is three million “Class E” common shares. The Stock Incentive Plan is administered by the Board of Directors who has the authority at its discretion to select the directors and executives to whom the awards may be granted to attract, retain, motivate, and compensate them for their contribution to the growth and profitability of the Bank; to determine whether and to what extent awards are granted, and to amend the terms of any outstanding award under this plan. Restricted stocks are issued at the grant date but are withheld by the Bank until the vesting date. Restricted stock is entitled to receive dividends. A restricted stock unit is a grant valued in terms of the Bank’s stock, but no stock is issued at the grant date. Restricted stock units are not entitled to dividends. The Bank issues or disposes of treasury stock and delivers common stock on the date on which the restricted stock units become unrestricted. During 2023, 2022 and 2021, the Board of Directors approved the grant of restricted stock to directors and stock options and restricted stock units to certain executives of the Bank, as follows: Restricted stock – Directors The Board of Directors granted the directors “Class E” common shares for 63 thousand, 57 thousand and 63 thousand during the years 2023, 2022 and 2021, respectively. The fair value of restricted stock granted was based on the stock closing price in the New York Stock Exchange of the “Class E” shares on April 26, 2023, April 27, 2022 and April 21, 2021, respectively. The fair value of restricted stock granted totaled $1.1 million in 2023, $835 thousand in 2022, and $923 thousand in 2021, of which $474 thousand, $354 thousand and $401 thousand were recognized in profit or loss during 2023, 2022 and 2021, respectively. Total expense recognized in profit or loss during 2023, 2022 and 2021 of restricted stock granted to directors amounted to $931 thousand, $895 thousand and $924 thousand, respectively. The remaining cost pending amortization of $821 thousand at December 31, 2023 will be amortized over 2.33 years. Restricted stock loses their restriction from the year following the anniversary date, as follows: 35% in the first and second years, and 30% in the third year. A. 2015 Stock Incentive Plan – Directors and Executives (continued) A summary of restricted stock granted to directors is presented below: Shares Weighted average Outstanding at January 1, 2021 132,150 18.56 Granted 63,000 14.65 Vested (49,350) 19.24 Outstanding at December 31, 2021 145,800 16.64 Granted 57,000 14.65 Vested (97,350) 18.71 Outstanding at December 31, 2022 105,450 14.15 Granted 63,000 17.69 Vested (53,100) 13.75 Outstanding at December 31, 2023 115,350 16.31 Expected to vest 115,350 The fair value of vested stock during the years 2023, 2022 and 2021 was $730 thousand, $1.8 million and $949 thousand, respectively. Restricted stock units to certain executives Restricted stock units The Board of Directors approved the grant of restricted stock units to certain executives of the Bank with a grant date fair value of $4.6 million in 2023, $822 thousand in 2022 and $1 million in 2021. The distribution of the fair value was in restricted stock units. The fair value of th e restricted stock units was based on the “Class E” stock closing price in the New York Stock Exchange on the grant date. The restricted stock units are exchanged at a ratio of 1: 1 for common shares “Class E”. Beginning with the grant awarded in 2023, the restriction period for the issuance of the restricted stock units was modified as follows: 25% vested in the month following the date of the grant, and 25% each year on the grant date's anniversary for the following three years. Previously, the restriction period for the issuance of the restricted stock units was: 25% vested each year on the grant date’s anniversary for the following four years. Compensation costs of the restricted stock units are amortized during the period of restriction by the accelerated method. During 2023, 2022 and 2021, the cost recognized in profit or loss as a result of the amortization of these grants totaled $2.4 million, $749 thousand and $984 thousand, resp ectively. Fair value of vested stock during the years 2023, 2022 and 2021 is $2.4 million, $581 thousand, and $838 thousand, respectively. A. 2015 Stock Incentive Plan – Directors and Executives (continued) A summary of the restricted stock units granted through December 31, 2023, to certain executives is presented below: Shares Weighted Weighted Aggregate Outstanding at January 1, 2021 81,343 17.94 Granted 75,796 13.33 Forfeited (1,311) 14.51 Vested (48,299) 17.35 Outstanding at December 31, 2021 107,529 14.99 Granted 63,056 13.03 Vested (36,410) 15.97 Outstanding at December 31, 2022 134,175 13.80 Granted 298,951 15.36 Forfeited (346) 14.95 Vested (152,305) 15.57 Outstanding at December 31, 2023 280,475 14.50 1.99 years $2,769 Expected to vest 280,475 14.50 1.99 years $2,769 For the restricted share units that are expected to be released, the compensation cost pending amortization is $1.6 million in 2023 and will be amortized over 2.17 years. Provision of restricted stock units As of December 31, 2023, the Bank's management established a provision of $1.7 million, recognized in the consolidated statement of profit or loss, related to the restricted stock units that will be granted in the first quarter of 2024. B. Other plans - Expatriate Top Executives Plan The Bank sponsors a defined contribution plan for its expatriate top executives based in Panama, which are not eligible to participate in the Panamanian social security system. The Bank’s contributions are determined as a percentage of the annual salaries of top executives eligible for the plan, each contributing an additional amount withheld from their salary. Contributions to this plan are managed by a fund manager through a trust. The executives are entitled to the Bank’s contributions after completing at least three years of service in the Bank. During 2023, 2022 and 2021, the Bank charged to salaries expense $58 thousand, $62 thousand and $67 thousand, respectively, that correspond to the Bank’s contributions to this plan.

Other expenses

Other expenses	12 Months Ended
	Dec. 31, 2023
Other expenses
Other expenses	Other expenses The following table details other expenses: December 31, 2023 2022 2021 Administrative 6,165 5,587 4,484 Professional services 5,522 5,603 4,074 Maintenance and repairs 4,731 3,449 2,388 Share-based payments to directors 931 895 924 Regulatory fees 1,321 1,015 978 Operating lease of spaces and equipment 691 717 562 Advertising and marketing 1,012 557 179 Other 1,799 354 1,191 Total 22,172 18,177 14,780

Litigation

Litigation	12 Months Ended
	Dec. 31, 2023
Litigation
Litigation	Litigation Bladex is not engaged in any litigation that is significant to the Bank’s business or, to the best of the knowledge of Bank’s management, that is likely to have an adverse effect on its business, consolidated financial position or consolidated financial performance.

Applicable laws and regulations

Applicable laws and regulations	12 Months Ended
	Dec. 31, 2023
Applicable laws and regulations
Applicable laws and regulations	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 December 31, 2023, and 2022, the minimum LCR to be reported to the SBP is 100% for both years. The Bank´s LCR as of December 31, 2023 and 2022 was 205.8% and 167.5%, respectively. 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 December 31, 2023, and 2022, was 93.4% and 100.49%, respectively. Capital adequacy The Banking Law in the Republic of Panama and Rules No. 01-2015 and 03-2016 require that the general license banks maintain a total capital adequacy index that shall not be lower, at any time, than 8% of total assets and off-balance sheet irrevocable contingency transactions, weighted according to their risks; and ordinary primary capital that shall not be less than 4.5% of its assets and off-balance sheet transactions that represent an irrevocable contingency, weighted based on their risks; and a primary capital that shall not be less than 6% of its assets and off-balance sheet transactions that represent an irrevocable contingency, weighted based on their risks. The primary objectives of the Bank’s capital management policy are to ensure that the Bank complies with capital requirements imposed by local regulator and maintains strong credit ratings and healthy capital ratios to support its business and to maximize shareholder value. 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 the previous periods. However, they are under constant review by the Board. The information corresponding to the total capital adequacy index is as follows: December 31, 2023 2022 Capital funds 1,206,753 1,072,110 Risk-weighted assets 8,898,408 8,117,913 Capital adequacy index 13.6 % 13.2 % 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 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: December 31, 2023 2022 Ordinary capital 1,070,734 936,092 Non-risk-weighted assets 10,994,085 9,606,970 Leverage ratio 9.7 % 9.7 % 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: December 31, 2023 Normal Special Mention Substandard Doubtful Unrecoverable Total Loans at amortized cost Corporations 4,354,378 32,342 — — 10,107 4,396,827 Financial institutions: Private 2,248,150 — — — — 2,248,150 State-owned 464,918 — — — — 464,918 2,713,068 — — — — 2,713,068 Sovereign 85,672 — — — — 85,672 Total 7,153,118 32,342 — — 10,107 7,195,567 Specific provision — 6,470 — — 5,652 12,122 Allowance for loan losses under IFRS (1) : 45,958 6,554 — — 6,898 59,410 December 31, 2022 Normal Special Mention Substandard Doubtful Unrecoverable Total Loans at amortized cost Corporations 3,659,018 — — — 10,107 3,669,125 Financial institutions: Private 2,225,385 — 20,000 — — 2,245,385 State-owned 719,882 — — — — 719,882 2,945,267 — 20,000 — — 2,965,267 Sovereign 128,628 — — — — 128,628 Total 6,732,913 — 20,000 — 10,107 6,763,020 Specific provision — — 10,000 — 5,870 15,870 Allowance for loan losses IFRS (1) : 33,639 — 16,141 — 5,420 55,200 (1) As of December 31, 2023, and 2022, there is no excess in the specific provision calculated in accordance with Rule No. 8-2014 of the SBP, over the provision calculated in accordance with IFRS. As of December 31, 2023, and 2022, there are no new restructured loans. 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. Below is the classification of the loan portfolio by maturity profile based on Rule No. 4-2013 and modified by Rule No. 8-2014: December 31, 2023 Current Past due Delinquent Total Loans at amortized cost Corporations 4,386,720 — 10,107 4,396,827 Financial institutions: Private 2,248,150 — — 2,248,150 State-owned 464,918 — — 464,918 2,713,068 — — 2,713,068 Sovereign 85,672 — — 85,672 Total 7,185,460 — 10,107 7,195,567 December 31, 2022 Current Past due Delinquent Total Loans at amortized cost Corporations 3,659,018 — 10,107 3,669,125 Financial institutions: Private 2,225,385 20,000 — 2,245,385 State-owned 719,882 — — 719,882 2,945,267 20,000 — 2,965,267 Sovereign 128,628 — — 128,628 Total 6,732,913 20,000 10,107 6,763,020 In accordance with Rule No. 4-2013, as amended by Rule No. 8-2014, non-accruing loans are presented by category as follows: December 31, 2023 Normal Special Mention Substandard Doubtful Unrecoverable Total Loans at amortized cost Impaired loans — — — — 10,107 10,107 Total — — — — 10,107 10,107 December 31, 2022 Normal Special Mention Substandard Doubtful Unrecoverable Total Loans at amortized cost Impaired loans — — 20,000 — 10,107 30,107 Total — — 20,000 — 10,107 30,107 December 31, 2023 2022 Non-accruing loans: Private corporations 10,107 30,107 Interest that would be reversed if the loans had been classified as non-accruing loans 328 1,173 As of December 31, 2023, and 2022, there was no interest income collected on loans in non-accrual status. 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 tota l provisions for the credit risk coverage. 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. 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 rese rves 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. As of December 31, 2023, and 2022, the total amount of the dynamic provision calculated according to the guidelines of Rule No. 4-2013 of the SBP is $136 million for both years, appropriated from retained earnings for purposes of compliance with local regulatory requirements. This allocation is restricted for dividend distribution purposes. 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.

Subsequent events

Subsequent events	12 Months Ended
	Dec. 31, 2023
Subsequent events
Subsequent events	Subsequent events The Bank announced a quarterly cash dividend of $0.50 US dollar cents per share corresponding to the fourth quarter of 2023. The cash dividend was approved by the Board of Directors o n February 20, 2024 and was paid on March 19, 2024 to the Bank’s stockholders as of March 04, 2024 record date. In February 2024, the Board of Directors approved a grant of restricted stock units to certain executives of the Bank with a grant date fair value of $6.8 million or 317,783 shares, out of which 79,455 shares were vested in March 2024. The Board also authorized a repurchase program of up to $50 million of the Bank's common stock over time. The repurchase plan is intended to comply with Rule 10b-18 promulgated under the Securities Exchange Act of 1934, as amended. The Bank announced a quarterly cash dividend of $0.50 US dollar cents per share corresponding to the first quarter of 2024. The cash dividend was approved by the Board of Directors o n April 16, 2024 and it was payable on May 15, 2024 to the Bank’s stockholders as of April 29, 2024 record date.

Material accounting policies (P

Material accounting policies (Policies)	12 Months Ended
	Dec. 31, 2023
Significant accounting policies
Foreign currency	3.1 Foreign currency Foreign currency transactions The Bank determines the functional currency. For each subsidiary, the items included in the consolidated financial statements are measured using the functional currency of the Bank. Transactions and balances Assets and liabilities of foreign subsidiaries, whose local currency is considered their functional currency, are translated into the reporting currency, US dollars, using month-end spot foreign exchange rates. The Bank uses monthly-average exchange rates to translate revenues and expenses from local functional currency into presentation currency. The effects of those translation adjustments are reported as a component of other comprehensive income (loss) in the consolidated statement of changes in equity. Non-monetary assets and liabilities that are measured at fair value in a foreign currency are translated into the functional currency at the exchange rate effective at the date on which fair value is determined. Non-monetary items that are measured based on historical cost in a foreign currency are translated using the exchange rate effective at the date of the transaction. Transactions whose terms are denominated in a currency other than the functional currency, including transactions denominated in local currency of foreign subsidiaries whose functional currency is the US dollar, are recorded at the exchange rate prevailing at the date of the transaction. Assets and liabilities in foreign currency are translated into US dollars using month-end spot foreign exchange rates. The effects of translation of monetary assets and liabilities into US d ollar are included in current year’s earnings in the line item "gain (loss) on financial instruments, net" in the consolidated statement of profit or loss, except for those correspondin g to m onetary items that are designated as hedge items in qualifying cash flow or net investment hedges recognized in other comprehensive income until maturity or sale, at which time the carrying amount is reclassified to profit or loss, except for the carrying amount of equity instruments designated to be measured at fair value through other comprehensive income. Tax charges and credits attributable to exchange differences on those monetary items are also recorded in accumulated other comprehensive income, if applicable.
Interest	3.2 Interest Effective interest rate Interest income and expense are recognized in profit or loss using the effective interest method. The ‘effective interest rate’ is the rate that exactly discounts estimated future cash payments or receipts through the expected life of the financial instrument measured at amortized cost. 3.2 Interest (continued) When calculating the effective interest rate for financial instruments other than purchased or originated credit-impaired assets, the Bank estimates future cash flows considering all contractual terms of the financial instrument, but not the expected credit loss (ECL). For purchased or originated credit-impaired financial assets, a credit-adjusted effective interest rate is calculated using estimated future cash flows including ECL. The calculation of the effective interest rate includes any amount directly attributable to the transaction such as origination fees (paid or received), premiums, discounts, and transaction costs. Amortized cost and gross carrying amount The ‘amortized cost’ of a financial asset or financial liability is the amount at which the financial asset or financial liability is measured on initial recognition minus the principal repayments, plus or minus the cumulative amortization using the effective interest method of any difference between that initial amount and the maturity amount and, for financial assets, adjusted for any expected credit loss allowance. The gross carrying amount of a financial asset is the amortized cost of a financial asset before adjusting for any expected credit loss allowance. Methodology for calculation of interest income and expense The effective interest rate is calculated on initial recognition for financial instruments measured at either amortized cost or fair value through other comprehensive income. In calculating interest income and expense, the effective interest rate is applied to the gross book balance of the financial instrument, when the asset is not credit-impaired, or to the amortized cost of the liability. The effective interest rate is revised as a result of periodic re-estimation of cash flows of floating-rate instruments to reflect movements in market interest rates. For financial assets that have become credit-impaired subsequent to initial recognition, interest income is calculated by applying the effective interest rate to the amortized cost of the financial asset. If the asset is no longer credit-impaired, the interest income calculation returns to the gross basis. For financial assets that were credit-impaired on initial recognition, interest income is calculated by applying the credit-adjusted effective interest rate to the amortized cost of the asset. The calculation of interest income does not return to the gross basis, even when it shows an improvement in the credit risk of the financial asset. Presentation Interest income and expense calculated using the effective interest rate presented in the consolidated statement of profit or loss include: - Interest on financial assets and financial liabilities measured at amortized cost. - Interest on securities measured at FVOCI. - Interest expense on lease liabilities. - The effective portion of the variability in interest flows from the hedge instruments, in the same period as the cash flows from the hedged item affect interest income or expense.
Fees and commissions	3.3 Fees and commissions Fees that are integral to the effective interest rate on a financial asset or financial liability are described in Note 3.2. Fees and commissions are determined based on considerations specified in a contract with the client. The Bank recognizes such income when control over the service is transferred to a customer. 3.3 Fees and commissions (continued) The following table describes the services, other than financial intermediation, from which the B ank generates its income: Type of services Nature of performance obligations Letters of credit Issuance Guarantee to honor the stipulated amount agreed to in the terms and conditions entered with the customer, upon presentation of required documentation. Negotiation Review of the shipping documents, by the beneficiary, upon presentation and acceptance of payment on demand or on the day the reimbursement is made by the designated bank. Acceptance Commitment issued to the beneficiary to pay to a supplier in a future date, once all the shipping documents have been reviewed as to compliance with the terms and conditions of the letter of credit. Confirmation Commitment issued to the issuer bank and the beneficiary to honor or negotiate shipping documents. Amendment A request to amend the original letter of credit on behalf of the beneficiary modifying the original terms and conditions. Syndications Structuring Advise to the borrower by structuring the terms and conditions of a credit facility and coordinating among the lenders’ and the borrowers’ legal counsel all legal aspects relating to the credit facility, among others. Other services Other Assignment of rights, transferability, reimbursements, payments, discrepancies, courier charges and transfers. Commitments Firm commitments to provide future credits operations which may be subject to compliance and acceptance of certain previously agreed terms and conditions and the signing of the contract between the parties.
Financial assets and liabilities	3.4 Financial assets and liabilities A. Date of recognition and initial measurement The Bank initially recognizes loans, deposits, securities and financial liabilities on settlement date. Other financial instruments are recognized on trade date, date on which the Bank becomes a party to the contractual provisions of the instrument. Recognized financial assets and financial liabilities are initially measured at fair value. Transaction costs that are directly attributable to the acquisition or issue of financial assets and liabilities, not measured at fair value through profit or loss (FVTPL), are added to or deducted from the fair value of the financial assets or liabilities, as appropriate, on initial recognition. Transaction costs directly attributable to the acquisition of financial assets or financial liabilities at FVTPL are recognized immediately in profit or loss. Financial assets and liabilities designated as hedged items in qualifying fair value hedging relationships are measured at amortized cost adjusted for the hedge risk components associated to the hedging relationship. 3.4 Financial assets and liabilities (continued) B. Classification of financial assets The Bank classifies its financial assets as subsequently measured at amortized cost, fair value through other comprehensive income or fair value through profit or loss based on the Ban k’s business model for managing the financial assets and the contractual cash flow characteristics of these financial assets. A financial asset is measured at amortized cost if it meets both of the following conditions and is not designated as at FVTPL: - The asset is held within a business model whose objective is to hold assets to collect contractual cash flows; and - The contractual terms of the financial asset give rise on specified dates to cash flows that are solely payment of principal and interest (SPPI). A financial asset is measured at fair value through other comprehensive income (FVOCI) only if it meets both of the following conditions and is not designated as at FVTPL: - The asset is held within a business model whose objective is achieved by both collecting contractual cash flows and selling financial assets; and - The contractual terms of the financial asset give rise on specified dates to cash flows that are SPPI. Unrealized gains or losses for financial assets at FVOCI are reported as net increases or decreases in other comprehensive income until realized. Gains or losses realized on sale of financial asset are included in the line item gain (loss) on financial instruments, net. A financial instrument will be classified at FVTPL as long as, the characteristics of its contractual cash flows or according to its business model, will result on classification it at amortized cost or at FVOCI. The rest of financial assets are classified at FVTPL, when the assessment of the financial instrument’s contractual terms and the cash flows derived from it determine that the SPPI criteria is not met for its classification at amortized cost or at FVOCI. At initial recognition, the following irrevocable election / designation for measurement of a financial asset on an asset-by-asset basis may be made: - It may irrevocably e lect to present subsequent changes in fair value of an equity instrument that is neither held for trading nor contingent consideration recognized by an acquirer in a business combination, and - It may irrevocably designate a debt instrument that meets the amortized cost or at FVOCI criteria as measured at FVTPL if doing so eliminates or significantly reduces an accounting mismatch. For an equity instrument designated as measured at FVOCI, the cumulative gain or loss previously recognized in other comprehensive income is not subsequently reclassified to profit or loss, but is transferred within equity to retained earnings. C. Classification of financial liabilities The Bank classifies all financial liabilities as subsequently measured at amortized cost, except for those liabilities designated as hedged items in qualifying fair value hedging relationships, which are measured a t amortized cost adjusted for the hedge risk components associated to the hedging relationship. 3.4 Financial assets and liabilities (continued) D. Business model assessment The Bank assesses the objective of the business model at a level that reflects how the financial asset groups are managed to obtain a particular business objective and how information on those assets is provided to Management. The assessment considers the following: - The Bank’s policies and objectives for the portfolio and the operation of those policies in practice. In particular, if management’s strategy focuses on earning contractual interest revenue, maintaining a particular interest rate profile, matching the duration of the financial assets to the duration of the liabilities that are funding those assets or realizing cash flows through the sale of the assets; - How the performance of the portfolio is evaluated and reported to Bank’s management; - The risks that affect the performance of the business model and how those risks are managed; - The frequency, volume and timing of sales in prior periods, the reason for such sales and its expectations about future sales activity. However, information about sales activity is not considered in isolation, but as part of an overall assessment of how the Bank’s stated objective for managing the financial assets is achieved and how cash flows are realized. An assessment of the business model for managing financial assets is fundamental to the classification of a financial asset. The business model does not depend on management’s intentions for an individual instrument; therefore, assessment of the business model is done at a higher level of aggregation rather than instrument by instrument. At the initial recognition of a financial asset, it is determined whether the newly recognized financial asset is part of an existing business model or whether it reflects the start of a new business model. As of December 31, 2023, the Bank has adopted two new business models for the loan classification, which consist on the origination and acquisition of loans for trading and loans at fair value with changes in other comprehensive income. - Loans for trading: Loans that are originated or purchased with the objective of generating cash flows through their sale in the short term. - Loans at fair value through other comprehensive income: Loans whose objective is to generate cash flows through the collection of principal and interest and the sale of such assets, with fair value being a key element in the management of these assets. Additionally, the characteristics of its contractual flows substantially represent a 'basic financing agreement'. E. Assessment whether contractual cash flows are solely payments of principal and interest (SPPI) For the purposes of this assessment, ‘principal’ is defined as the fair value of the financial asset on initial recognition. ‘Interest’ is defined as consideration for the time value of money and for the credit risk associated with the principal amount outstanding at a point in time and for other basic lending risks and costs as well as profit margin. Contractual cash flows that are SPPI are consistent with a basic credit agreement. Contractual terms that originate risk exposure or volatility in the contractual cash flows that are not related to a basic credit agreement, such as exposure to changes in equity prices or commodity prices, do not give rise to contractual cash flows that are SPPI. An originated or an acquired financial asset can be a basic credit arrangement irrespective of whether it is a credit in its legal form. In assessing whether the contractual cash flows are SPPI, the Bank considers the contractual terms of the instrument. This includes assessing whether the financial asset contains a contractual term that could change the timing or amount of contractual cash flows, so that it would not meet this condition. In making the assessment, the Bank considers the following: 3.4 Financial assets and liabilities (continued) - Contingent events that would change the amount and timing of cash flows; - Leverage features; - Prepayment and extension terms; - Terms that limit the Bank´s claim to cash flows from specified assets (e.g. non-recourse asset arrangements); and features that modify consideration of the time value of money (e.g. periodical reset of interest rates). The Bank measures its financial assets and liabilities at FVTPL, when the assessment of the financial instrument’s contractual terms and the cash flows derived from it determines that the SPPI criteria is not met for its classification at amortized cost or at FVOCI. F. Reclassification If the business model under which the Bank holds financial assets changes, the financial assets affected are reclassified. The classification and measurement requirements related to the new category apply prospectively from the first day of the first reporting period following the change in business model that results in reclassifying the Bank’s financial assets. During 2023 the Bank adopted two new business models for the loan portfolio, which did not lead to reclassifications. For 2022, no new business models were identified. Changes in contractual cash flows are considered under the accounting policies on derecognition and modification of financial assets and liabilities. G. Derecognition of financial assets and liabilities Financial assets A financial asset (or, where applicable, a part of a financial asset or part of a group of similar financial assets) is derecognized when: - The rights to receive cash flows from the asset have expired. - The Bank has transferred its rights to receive cash flows from the asset and either has transferred substantially all risks and rewards of the asset or has neither transferred nor retained substantially all the risks and rewards of the asset but has transferred control of the asset. - The Bank retains the right to receive cash flows from the asset but has assumed an obligation to pay the received cash flows in full without significant delay to a third party under a ‘pass–through’ arrangement. - When the Bank has transferred its rights to receive cash flows from an asset or has entered into a pass–through arrangement and has neither transferred nor retained substantially all the risks and rewards of the asset nor transferred control of the asset, the asset is recognized to the extent of the Bank’s continuing involvement in the asset. In that case, the Bank also recognizes an associated liability. The transferred asset and the associated liability are measured on a basis that reflects the rights and obligations that the Bank has retained. The Bank assesses the transfer of risks and benefits by comparing the entity’s exposure, before and after the transfer, with the variation in the amounts and timing of the net cash flows of the transferred asset; additionally, the continued participation in a transferred financial asset is measured by the lowest value between the original carrying amount of the asset and the maximum amount of the consideration that the Bank could be required to pay. In derecognizing the financial asset, the allowance for losses is deducted from the gross carrying amount of the financial asset; any accumulated gain or loss that has been recognized in other comprehensive income is recognized in profit or loss. 3.4 Financial assets and liabilities (continued) Any accumulated gain or loss recognized in other comprehensive income regarding equity instruments designated at fair value through other comprehensive income is not recognized in the consolidated statement of profit or loss. Any interest in the transfer of a financial assets that qualifies for derecognition, booked or held by the Bank is recognized as a separate asset or liability. The Bank enters into transactions whereby it transfers assets recognized on its consolidated statement of financial position but retains either all or substantially all the risks and rewards of the transferred assets or a portion of them. In such cases, the transferred assets are not derecognized. Examples of such transactions are securities and transactions under repurchase agreements. Financial liabilities A financial liability is derecognized when the obligation under the liability is extinguished, when the obligation specified in the contract is discharged or cancelled or expires. Where an existing financial liability is replaced by another from the same counterparty on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as an extinguishment of the original liability and the recognition of a new liability. The difference between the carrying value of the original financial liability and the consideration paid, including any non-cash assets transferred or liabilities assumed, is recognized in profit or loss. H. Modified financial asset or liability Financial assets A modified financial asset is an instrument whose borrower is experiencing financial difficulties and the renegotiation constitutes a concession to the borrower. A concession may include modification of terms such as an extension of maturity date, reduction in the stated interest rate, rescheduling of future cash flows, and reduction in the face amount of the financial asset or accrued interest, among others. When a financial asset is modified, the Bank assesses whether this modification results in derecognition. In accordance with the Bank’s policies a modification results in derecognition when it gives rise to substantially different terms. To determine if the modified terms are substantially different from the original contractual terms the Bank considers the following: - Qualitative factors, such as contractual cash flows after modification that are no longer SPPI, change in currency or change of counterparty, the extent of change in interest rates, maturity or covenants. If these do not clearly indicate a substantial modification, then; - A quantitative assessment is performed to compare the present value of the remaining contractual cash flows according to the original terms with the contractual cash flows of the revised terms; both amounts discounted at the original effective interest rate. When the contractual terms of a financial asset are modified, and the modification does not result in derecognition, the Bank determines if the financial asset’s credit risk has increased significantly since initial recognition by comparing: - The remaining lifetime probability of default estimated based on data at initial recognition and the original contractual terms; with - The remaining lifetime probability of default at the reporting date based on the modified terms. 3.4 Financial assets and liabilities (continued) In the renegotiation or modification of the contractual cash flows of the financial asset, the Bank shall: - Continue with its current accounting treatment for the existing financial asset that has been modified. - Record a modification gain or loss by recalculating the gross carrying amount of the financial asset as the present value of the renegotiated or modified contractual cash flows, discounted at the financial asset’s original effective interest rate. - Assess whether there has been a significant increase in the credit risk of the financial instrument, by comparing the risk of a default occurring at the reporting date (based on the modified contractual terms) and the risk of a default occurring at initial recognition (based on the original, unmodified contractual terms). The financial asset that is modified is not automatically considered to have a lower credit risk. The assessment should consider credit risk over the expected life of the asset based on historical and forward-looking information, including information about the circumstances that led to the modification. Evidence that the criteria for the recognition of lifetime expected credit losses are subsequently no longer met may include a history of up-to-date and timely payment in subsequent periods. If the credit quality of the financial asset no longer exhibits a credit impairment, it will return to a 12-month expected credit loss measurement. - Make the appropriate quantitative and qualitative disclosures required for renegotiated or modified assets to reflect the nature and the effect of such modifications (including the effect on the measurement of expected credit losses) and how the Bank monitors these financial assets that have been modified. When the modification of a financial asset results in the derecognition of an existing financial asset and the subsequent recognition of a modified financial asset, the modified asset is considered a new financial asset, at the time of derecognition, the reserve for expected credit losses (ECL) is recalculated to determine the net carrying value of the asset at that date. The new financial asset will have an allowance for losses measured based on 12-month for expected credit losses except for rare cases where the new financial asset is considered to be impaired, because a high risk of default remains, which has not been reduced in the modification. The Bank monitors the credit risk of the modified or renegotiated financial assets by assessing qualitative and quantitative information, considering them in the same way as customers with expired status under new terms. Financial Liabilities The Bank derecognizes a financial liability when its terms are modified, and the cash flows of the modified liability are substantially different. The Bank considers that the terms of a modified financial liability are substantially different if the present value of the cash flows under the new terms, including any fees paid net of any fees received, discounted at the original effective interest rate presents a difference greater than 10% of the discounted present value of the cash flows still remaining from the original financial liability. In this case, a new financial liability based on the modified terms is recognized at fair value. The difference between the carrying amount of the financial liability derecognized, and the consideration paid, is recognized in profit or loss. Consideration paid includes non-financial assets transferred, if any, and the assumption of liabilities, including the new modified financial liability. If the modification of a financial liability is not accounted for as derecognition, then the amortized cost of the liability is recalculated by discounting the modified cash flows at the original effective interest rate and the resulting gain or loss is recognized in profit or loss. For floating-rate financial liabilities, the original effective interest rate used to calculate the modification gain or loss is adjusted to reflect current market terms at the time of the modification. Any costs and fees incurred are recognized as an adjustment to the carrying amount of the liability and amortized over the remaining term of the modified financial liability by re-computing the effective interest rate on the instrument. 3.4 Financial assets and liabilities (continued) I. Offsetting Financial assets and financial liabilities are offset and the net amount presented in the consolidated statement of financial position when, and only when, the Bank currently has a legally enforceable right to set off the amounts and it intends either to settle them on a net basis or to realize the asset and settle the liability simultaneously. Generally, this is not the case with a contractual compensation agreement; therefore, related assets and liabilities are presented with their gross amounts in the consolidated statement of financial position. Income and expenses are presented on a net basis only when permitted under IFRS Standards, or for gains and losses arising from a group of similar transactions. J. Fair value measurement Fair value of an instrument is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction, between market participants at the measurement date or, in its absence, the most advantageous market to which the Bank has access at that date. The fair value of a liability reflects its non-performance risk. When one is available, the Bank measures the fair value of an instrument using the quoted price in an active market for that instrument. A market is regarded as “active” if transactions for the asset or liability take place with sufficient frequency and volume to provide pricing information on an ongoing basis. If there is no quoted price in an active market, then the Bank uses valuation techniques that maximize the use of relevant observable inputs and minimize the use of unobservable inputs. The chosen valuation technique incorporates all of the factors that market participants would take into account in pricing a transaction. The best evidence of the fair value of a financial instrument on initial recognition is normally the transaction price – i.e. the fair value of the consideration given or received. The Bank recognizes transfers between levels of the fair value hierarchy as of the end of the reporting period during which the change has occurred. K. Allowances for losses on financial instruments The allowances for losses on financial instruments are provided for losses derived from the expected credit losses (“ECL”), inherent in the loan portfolio, investment securities and loan commitments and financial guarantee contracts, using the reserve methodology to determine expected credit losses. Additions to the allowance for expected credit losses for financial instruments are recognized in profit or loss or in other comprehensive income (loss) depending on classification of the instrument. Incurred credit losses are deducted from the allowance, and subsequent recoveries are added. The allowance is also decreased by reversals of the allowance back to profit or loss. The allowance for expected credit losses for financial instruments at amortized cost is reported as a deduction of financial assets and, the allowance for expected credit losses on loan commitments and financial guarantee contracts, such as letters of credit and guarantees, is presented as a liability. The Bank assigns to each exposure a risk rating which is defined using quantitative and qualitative factors that are indicative of the risk of loss. This rating is considered for purposes of identifying significant increases in credit risk. These factors may vary depending on the nature of the exposure and the type of borrower. Each exposure will be assigned to a risk rating at the time of initial recognition based on the information available about the customer and the country. Exposures will be subject to continuous monitoring, which may result in the change of an exposure to a different risk rating. The analysis of customer risk considers financial and operational factors, sector / industry, market and managerial, as well as the ratings of international rating agencies, quality of information and other elements of an objective nature, including projections on indicators. 3.4 Financial assets and liabilities (continued) For the assignment of customer credit ratings, quantitative and qualitative criteria are applied, depending on whether the counterpart corresponds to a financial entity or a corporation, and broken down into several factors, which receive a weighting within the customer's rating. In the analysis of the country risk, for the establishment of the rating, the assessment of quantitative and qualitative factors specific to the country under analysis is considered, as well as the regional and global macroeconomic environment, considering projections about the future performance of the country´s environment. In general, there are three groups of quantitative factors that determine the analysis and that give rise to a quantitative rating of the country (changes in main economic indicators; external payment capacity and access to capital; performance of domestic credit and the financial system), which is later analyzed within the social-political framework of the country (qualitative factors) and may consider added deterioration for the determination of the final country rating. i) Measurement of expected credit losses Calculation of the allowance for expected credit losses for financial instruments is made based on the risk rating resulting from the Bank's internal model and considers, generally (certain exceptions apply), the worst among the country risk rating of the transaction and the customer risk rating. The table below provides a mapping of the Bank’s internal credit risk grades to external ratings. Internal 12 - month average PD (1) % External rating (2) Description 1 - 4 0.09 Aaa – Ba1 Exposure in customers or countries with payment ability to satisfy their financial commitments. 5 - 6 2.28 Ba2 – B3 Exposure in customers or countries with payment ability to satisfy their financial commitments, but with more frequent reviews. 7 7.81 Caa1 - Caa3 Exposure in customers whose primary source of payment (operating cash flows) is inadequate, and who show evidence of deterioration in their working capital that does not allow them to satisfy payments on the agreed terms, or in countries where the operation carries certain risks. 8 - 9 34.52 Ca Exposure in customers whose operating cash flows continuously show insufficiency to service the debt on the originally agreed terms, or in countries where the operation is limited or restricted to certain terms, structure and types of credits. 10 100 C Exposure to customers with operating cash flows that do not cover their costs, are in suspension of payments, presumably will also have difficulties fulfilling possible restructuring agreements, are in a state of insolvency, or have filed for bankruptcy, among others. (1) Probability of default (2) Credit rating by Moody’s Investors Service. In order to maintain periodical monitoring of the quality of the portfolio, customers and countries are reviewed within a time frequency ranging from 3 to 12 months, depending on the risk rating. The Bank measures expected credit losses in a way that reflects: a) an unbiased and probability-weighted amount that is determined by evaluating a range of possible outcomes; b) time value of money; and c) reasonable and supportable information that is available without undue cost or effort at the reporting date about past events, current conditions and forecast of future economic conditions. 3.4 Financial assets and liabilities (continued) The expected credit loss model reflects the general pattern of deterioration or improvement in the credit quality of the financial instrument. The amount of ECL recognized as a loss allowance or provision depends on the extent of credit deterioration since initial recognition. There are two measurement bases: - Stage 1: 12-month ECL, which applies to all financial instruments (from initial recognition) as long as there is no significant increase in credit risk, and - Stage 2 and 3: Lifetime ECL, which applies when a significant increase in credit risk has occurred on an individual or collective basis. In Stages 2 and 3 interest income is recognized. Under Stage 2 (as under Stage 1), there is a full decoupling between interest recognition and impairment and interest income is calculated on the gross carrying amount. Under Stage 3, when a financial asset subsequently becomes credit impaired (when a credit event has occurred) interest income is calculated by applying the effective interest rate adjusted to the amortized cost of the impaired asset. In subsequent reporting years, if the credit quality of the financial asset improves so that the financial asset is no longer credit-impaired, and the improvement can be related objectively to the occurrence of an event (such as an improvement in the borrower’s credit rating), then the Bank will once again calculate interest income on a gross basis. The allowance for expected credit losses includes an asset-specific component and a formula-based component. The asset-specific component, or specific allowance, relates to the provision for losses on credits considered impaired and measured individually case-by-case. A specific allowance is established when the value of the discounted cash flows (or observable fair value of collateral) of the credit is lower than the carrying value of that credit. The formula-based component (collective assessment basis), covers the Bank’s performing credit portfolio and it is established based on a process that estimates the probable loss inherent in the portfolio, based on statistical analysis and management’s qualitative judgment. This assessment considers comprehensive information that incorporates not only past-due data, but other relevant credit information, such as forward looking macro-economic information. ECL are a probability-weighted estimate of the present value of credit losses. These are measured as the difference in the present value of the cash flows due to the Bank under the contract and the cash flows that the Bank expects to receive arising from weighing of multiple future economic scenarios, discounted at the asset’s effective interest rate (EIR). For undrawn loan commitments, the ECL is the difference between the present value of the contractual cash flows that are due to the Bank if the holder of the commitment draws down the loan and the cash flows that the Bank expects to receive if the loan is drawn down; and for financial guarantee contracts, the ECL is the difference between the expected payments to reimburse the holder of the guaranteed debt instrument less any amounts that the Bank expects to receive from the holder, the debtor or any other party. The Bank determines ECL using two methodologies to determine if there is objective evidence of impairment for financial instruments: - Individually assessed The expected credit losses on individually assessed financial instruments are determined by an evaluation of the exposures on a case-by-case basis. This procedure is applied to all credit transactions that are individually significant or not. If it is determined that there is no objective evidence of impairment for an individual credit transaction, it is included in a group of credit transactions with similar credit risk characteristics and is collectively assessed to determine whether there is impairment. The impairment loss is calculated by comparing the present value of the future expected cash flows, discounted at the original effective rate of the credit transaction, with its current carrying amount and the amount of any loss is recognized as a provision for losses in the consolidated statement of profit or loss for those measured at amortized cost, and in equity for those operations measured at FVOCI. 3.4 Financial assets and liabilities (continued) - Collectively assessed For a collective assessment of impairment, financial instruments are grouped according to similar credit risk characteristics. These characteristics are relevant to estimate cash flows for the groups of such assets, being indicative of the debtors' ability to pay the amounts owed according to the contractual terms of the assets being assessed. Future cash flows in a group of credit transactions that are collectively assessed to determine whether there is impairment are estimated according to the contractual cash flows of the assets in the group, the historical loss experience for assets with similar credit risk characteristics, within each group, and the experienced management views on whether the current economy and credit conditions can change the real level of historical inherent losses suggested. ii) Definition of default The Bank consi ders a financial asset to be in default when it presents any of the following characteristics: – The borrower is past due for more than 90 days in any of its financial obligations, either in the principal payment or interest; – Impairment in the financial condition of the customer, or the existence of other factors allowing to estimate the possibility that the balance of principal and interest on customers’ loans will not be fully recovered. The above presumptions regarding past due loans may be rebuttable if the Bank has reasonable and supportable information that is available without undue cost or effort, that demonstrate that the credit risk has not increased significantly since initial recognition even though the contractual payments are more than 30 or 90 days past d
Derivative financial instruments for risk management purposes and hedge accounting	3.5 Derivative financial instruments for risk management purposes and hedge accounting Derivatives held for risk management purposes include all derivative assets and liabilities that are not classified as trading assets or liabilities. Derivatives held for risk management purposes are measured at fair value in the consolidated statement of financial position. Derivatives are initially recognized at fair value at the date a derivative contract is entered into and are subsequently remeasured to their fair value at each reporting date. The resulting gain/loss is immediately recognized in the consolidated statements of profit or loss unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in profit or loss depends on the nature of the hedging relationship. Applicable standards for all hedging relationships On initial designation of the hedge, the Bank formally documents the relationship between the hedging instrument(s) and hedged item(s), including the risk management objective and strategy in undertaking the hedge, together with the method that will be used to assess the effectiveness of the hedging relationship. The Bank makes an assessment, both at inception of the hedging relationship and on an ongoing basis, of whether the hedging instrument(s) is(are) expected to be highly effective in offsetting the changes in the fair value or cash flows of the respective hedged item(s) during the period for which the hedge is designated. The Bank uses derivative financial instruments for its management of interest rate and foreign currency risks. Interest rate swap contracts, cross-currency swap contracts and foreign exchange forward contracts have been used to manage interest rate and foreign exchange risks. These derivatives contracts can be classified as fair value or cash flow hedges. In addition, foreign exchange forward contracts are used to hedge exposures to changes in foreign currency in subsidiary companies with functional currencies other than the US dollar. These derivatives contracts are classified as net investment hedges. 3.5 Derivative financial instruments for risk management purposes and hedge accounting (continued) The accounting for changes in value of a derivative depends on whether the contract is for trading purposes or has been designated and qualifies for hedge accounting. Derivatives held for trading purposes include interest rate swaps, cross-cu rrency swaps and foreign exchange forward contracts used for risk management purposes that do not qualify for hedge accounting. These derivatives are reported as asset or liabilities, as applicable in the consolidated statement of financial position. Changes in realized and unrealized gains and losses from these financial instruments are recognized as gain (loss) on financial instruments, net in the consolidated statements of profit or loss. Derivatives for hedging purposes primarily include US dollar interest rate swaps, cross currency swaps and foreign exchange forward contracts. Derivative contracts designated and qualifying for hedge accounting are reported in the consolidated statement of financial position as derivative financial instruments used for hedging - assets and liabilities, as applicable; and hedge accounting is applied. In order to qualify for hedge accounting, a derivative must be considered highly effective at reducing the risk associated with the exposure being hedged. Each derivative must be designated as a hedge, with documentation of the risk management objective and strategy, including identification of the hedging instrument, the hedged item and the risk exposure, as well as how effectiveness will be assessed prospectively. Hedging instruments should be assessed qualitatively and quantitatively, assessed on a quarterly basis in order to determine their effectiveness at achieving offsetting changes in fair value or cash flows. Any ineffectiveness must be reported in current-year profit or loss. i) Hedge accounting relationship As the Bank enters into a hedge accounting relationship, the first requirement is that the hedging instrument and the hedged item must be expected to move in the opposite direction as a result of the change in the hedged risk. This should be based on an economic rationale, as could be the case if the relationship is based only on a statistical correlation. This requirement is fulfilled for many of the hedging relationships carried out by the Bank as the underlying of the hedging instrument matches or is closely aligned with the hedged risk. Even when there are differences between the hedged item and the hedging instrument, the economic relationship will often be capable of being demonstrated using a qualitative assessment. The assessment, whether qualitative or quantitative, considers the following: a) maturity; b) notional amount; c) cash flow dates; d) currency; and e) interest rate basis. ii) Hedge ratio The hedge ratio is the ratio between the amount of the hedged item and the amount of the hedging instrument. For most of the hedging relationships, the hedge ratio is 1:1 as the underlying of the hedging instrument perfectly matches the designated hedged risk. For a hedging relationship with a correlation between the hedged item and the hedging instrument that is not a 1:1 relationship, the hedge ratio is generally set so as to adjust for the type of relationship in order to improve effectiveness. iii) Discontinuation of hedge accounting The Bank discontinues hedge accounting prospectively in the following situations: 1. It is determined that the derivative is no longer effective in offsetting changes in the fair value or cash flows of a hedged item. 2. The derivative expires or is sold, terminated or exercised. 3. It is determined that designation of the derivative as a hedging instrument is no longer appropriate. 3.5 Derivative financial instruments for risk management purposes and hedge accounting (continued) Fair value hedges When a derivative is designated as the hedging instrument in a hedge of the change in fair value of a recognized asset or liability or a firm commitment that could affect profit or loss, changes in the fair value of the derivative are recognized in profit or loss together with changes in the fair value of the hedged item that are attributable to the hedged risk, except when the hedging instrument hedges an equity instrument designated at FVOCI in which case it is recognized in OCI. The carrying amount of a hedged item not already measured at fair value is adjusted in profit or loss for the fair value change attributable to the hedged risk. For financial instruments measured at FVOCI, the carrying amount is not adjusted as it is already at fair value, but the portion of the fair value on the hedged item associated with the hedged risk is recognized in profit or loss instead of OCI. When the hedged item is an equity instrument designated at FVOCI, the hedging gain/loss remains in OCI to match that of the hedging instrument. If the hedge relationship is terminated or exercised, or the hedge no longer meets the criteria for fair value hedge accounting, or the hedge designation is revoked, then hedge accounting is discontinued prospectively and the fair value adjustment to the hedged item continues to be reported as part of the basis of the item and is amortized to earnings as an adjustment to the yield in profit or loss. Cash flow hedges When a derivative is designated as a hedging instrument for variability in cash flows attributable to a particular risk associated with a recognized asset or liability that could affect profit or loss, the effective portion of the change in fair value of the derivative is recognized in OCI and it is recognized in profit or loss when the hedged cash flows affect income. The ineffective portion is recognized in profit or loss in the line item gain (loss) on financial instruments, net. If the cash flow hedge relationship is terminated or exercised, or the hedge no longer meets the criteria for fair value hedge accounting, or the hedge designation is revoked, then hedge accounting is discontinued prospectively and the related amounts recognized in OCI are reclassified to profit or loss when hedged cash flows occur. The Bank recognizes the costs associated with foreign exchange forward contracts when the hedged item is an asset or liability, as interest income or expense, adjusting the yield of the underlying transaction in profit or loss, and accumulates a reserve in OCI in the consolidated statement of financial position, which is reclassified to profit or loss upon maturity. Net investment hedges When a derivative instrument or a non-derivative financial item is designated as the hedging instrument in a hedge of a net investment in a foreign operation, the effective portion of changes in the fair value of the hedging instrument is recognized in OCI and presented in the foreign currency translation reserve within equity. Any ineffective portion of the changes in the fair value of the derivative is recognized in profit or loss. The amount recognized in OCI is reclassified to profit or loss as a reclassification adjustment when disposal of the investment in the foreign operation occurs.
Cash and due from banks	3.6 Cash and due from banks
Loans	3.7 Loans Loans reported in the consolidated statement of financial position include loans at amortized cost. 3.7 Loans (continued) Loans at amortized cost consider the principal outstanding amounts and interest receivable net of unearned interest, deferred fees and allowance for expected credit losses. Loans recognized and designated as hedged items in qualifying fair value hedging relationships, are measured at amortized cost adjusted for the hedge risk components associated to the hedging relationship. Purchased loans are recognized at the acquisition cost. The difference between the outstanding amount and the acquisition cost of loans, premiums and discounts, is amortized over the life of the loan as an adjustment to the yield. All other costs related to acquisition of loans are also reflected as an adjustment to the yield.
Securities	3.8 Securities Securities presented in the consolidated statement of financial position include: - Debt investment securities measured at amortized cost; these are initially measured at fair value plus incremental direct transaction costs, and subsequently at their amortized cost using the effective interest method, except for those designated as hedged items in qualifying fair value hedging relationships which are measured at amortized cost adjusted for the hedged risk component associated with the hedging relationship. - Debt instruments measured at FVOCI; these are initially measured at fair value plus incremental transaction costs, and subsequently their fair value is remeasured on a recurring basis, with such adjustment recognized in other comprehensive income, except for those designated as hedged items in relationships that qualify as fair value hedges where the portion attributable to the hedged risk is recognized in profit or loss.
Deposits, borrowings and repurchase agreements	3.9 Deposits, borrowings and repurchase agreements Liability deposits, borrowings and debt are accounted for at amortized cost, except for those designated as hedged items in qualifying fair value hedging relationships, which are measured at amortized cost adjusted for the hedge risk components associated to the hedging relationship. Repurchase agreements are transactions in which the Bank sells a security and simultaneously agrees to repurchase that security (or an asset that is substantially identical) at a fixed price on a future date. The Bank continues to recognize the securities in their entirety in the consolidated statement of financial position because it retains substantially all the risks and rewards of ownership. The cash consideration received is recognized as a financial asset and a financial liability is recognized for the obligation to pay the repurchase price.
Loan commitments and financial guarantee contracts	3.10 Loan commitments and financial guarantee contracts Letters of credit, stand-by letters of credit and guarantees The Bank, on behalf of its client’s base, issues, confirms and advises letters of credit to facilitate foreign trade transactions. When issuing, confirming and advising letters of credit, the Bank adds its own unqualified assurance that the Bank will pay upon presentation of complying documents as per the terms and conditions established in the letter of credit. The Bank also issues, confirms and advises stand-by letters of credit and guarantees, which are issued on behalf of institutional clients in connection with financing between its customers and third parties. The Bank applies the same credit policies used in its lending process, and once the commitment is issued, it becomes irrevocable and remains valid until its expiration upon the presentation of complying documents on or before the expiry date. Credit commitments Commitments to extend credit are binding legal agreements to lend to customers as long as the preceding conditions stipulated by the Bank are fulfilled. Commitments generally have fixed expiration dates or other termination clauses and require payment of a fee to the Bank. As some commitments expire without being drawn down, the total commitment amounts do not necessarily represent future cash requirements.
Leases	3.11 Leases At inception of a contract, the Bank assesses whether a contract is, or contains, a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. To assess whether a contract conveys the right to control the use of an identified asset, the Bank assesses whether: - The contract involves the use of an identified asset –this may be specified explicitly or implicitly; and should be physically distinct or represent substantially all of the capacity of a physically distinct asset. - The Bank has the right to obtain substantially all of the economic benefits from use of the asset throughout the period of use. - The Bank has the right to direct the use of the asset. The Bank has decision-making rights that are most relevant to changing how and for what purpose the asset is used. In rare cases where the decision about how and for what purpose the asset is used is predetermined, the Bank has the right to direct the use of the asset if either: - The Bank has the right to operate the asset; or - The Bank designed the asset in a way that predetermines how and for what purpose it will be used. At inception or on reassessment of a contract that contains a lease component, the Bank allocates the consideration in the contract to each lease component on the basis of their relative stand-alone prices. However, for lease agreements of office spaces in buildings in which the Bank is a lessee, it chose not to separate the components of the contract that do not correspond to the lease and to account for all of them under a single lease component. The details of the lease policy are described as follows: A. Definition of a lease The Bank determines at the beginning of the contract if an agreement is or contains a lease. The Bank assesses if a contract is or contains a lease based on the definition of a lease. B. As a lessee The Bank recognizes right-of-use assets and lease liabilities for most leases. These leases are presented in the consolidated statement of financial position. Lease liabilities are measured at the present value of the lease payments, discounted at the Bank's internal funding cost rate, for the weighted average term of the contract. The right-of-use asset is recognized at cost from the initial measurement of lease liabilities, adjusted for any prepayment, incremental cost, dismantling cost and accumulated depreciation. Subsequently, it is depreciated using the straight-line method from the inception date until the end of the lease term. In addition, the right-of-use asset is reduced by impairment losses, if applicable, and is adjusted for certain new measurements of the lease liability. The Bank presents its right of use assets in the line item of equipment and leasehold improvements, net and the liability as lease liabilities, both in the consolidated statement of financial position. C. As a sublessor Sub-leases of assets for rights of use are classified as operating leases. The subleased portion is classified as investment property, which is subsequently measured by applying the cost model. Lease income is recognized in profit or loss in the period in which it is earned. The Bank applies the service fulfillment to revenue from contracts with customers to assign the consideration in the contract to each lease component and that is not a lease. 3.11 Leases (continued) D. Investment property - Right of use Rights-of-use assets that the Bank holds under sublease agreements for the purpose of obtaining lease income are classified as investment property in the consolidated statement of financial position. These assets are measured at initial recognition using the same criteria used to recognize other rights-of-use assets. After initial recognition, the carrying amount of these assets is amortized on a straight-line basis over their life. The estimated useful life of these investment property is closely related to the principal lease agreement. When the Bank disposes of an investment property – right of use, it writes off its original cost and its accumulated depreciation. Any resulting difference between the net asset and the associated lease liability is recognized in profit or loss.
Equipment and leasehold improvements	3.12 Equipment and leasehold improvements Equipment and leasehold improvements are stated at cost excluding the costs of day–to–day maintenance, less accumulated depreciation and impairment losses, if applicable. Changes in the expected useful lives are accounted for by changing the amortization period or method, as appropriate, and treated as changes in accounting estimates. Depreciation is calculated using the straight–line method over their estimated useful life, to write down the cost of assets and equipment to their residual values. The estimated useful lives are as follows: Useful life in years Furniture and equipment 3 to 5 years Hardware 3 years Other equipment 2 to 4 years Leasehold improvements 3 to 15 years or up to the lease term Equipment and le asehold improvements include right of use assets arising from leases. Recognition and subsequent measurement for lease contracts are set out in Note 3.11. Leasehold improvements are amortized on a straight-line basis calculated without exceeding the length of the respective lease contracts. Equipment and leasehold improvements are derecognized on disposal or when no future economic benefits are expected from their use. Any gain or loss arising on derecognition of the asset (calculated as the difference between the net disposal proceeds and the carrying amount of the asset) is recognized in other income or other expenses in profit or loss.
Investment property	3.13 Investment property Property that is held with the intention of generating a return from rental, capital appreciation or both, as well as right-of-use assets that the Bank holds under sublease agreements and that are not occupied by the Bank, are classified as investment property in the consolidated statement of financial position and are initially measured at cost, including all transaction-related costs and, where applicable, costs associated with financing. After initial recognition, investment property is measured at fair value, except for that recognized investment property – right of use that the Bank holds under sublease agreements which are subsequently measured at cost. Fair value is based on market prices, adjusted, if necessary, for differences in the nature, location or condition of the specific asset. If this information is not available, the Bank uses alternative valuation methods, such as recent prices on less active markets or discounted cash flow projections. Valuations are performed as of the reporting date by professional appraisers who hold recognized and relevant professional qualifications and have recent experience in the location and category of the investment property being valued. These valuations form the basis for the carrying amounts in the consolidated financial statements. 3.13 Investment property (continued) The fair value of investment property reflects, among other things, rental income from current leases and other assumptions market participants would make when pricing the property under current market conditions. Subsequent expenditure is capitalized to the asset’s carrying amount only when it is probable that future economic benefits associated with the expenditure will flow to the Bank and the cost of the item can be measured reliably. All other repairs and maintenance costs are expensed when incurred. When part of an investment property is replaced, the carrying amount of the replaced part is derecognized. Changes in fair value are recognized in profit or loss. Investment property is derecognized when disposed of. When the Bank disposes of an investment property at fair value in an arm’s length transaction, the carrying value immediately prior to the sale is adjusted to the transaction price, and the adjustment is recorded in the consolidated statement of profit or loss as gain (loss) on non-financial assets, net.
Intangible assets	3.14 Intangible assets An intangible asset is recognized only when its cost can be measured reliably, and it is probable that the expected future economic benefits that are attributable to it will flow to the Bank. The useful lives of intangible assets are assess ed to be either finite or indefinite. Intangible assets with finite useful lives are amortized using the straight-line method reducing the cost of the intangible asset to their residual value over the estimated useful lives of the assets. Changes in the expected useful life or the expected pattern of consumption of future economic benefits embodied in the asset are accounted for by changing the amortization period or method, as appropriate, and they are treated as changes in accounting estimates. The amortization expense on intangible assets with finite lives is presented as a separate line item in profit or loss. Bank’s intangible assets include the cost of computer software, licenses, model design, among others. Gains or losses arising from the derecognition of an intangible asset are determined by the Bank as the difference betwe en proceeds from the sale or disposal and the net carrying amount of the intangible asset and recognized in profit or loss for the year in which the transaction occurs.
Impairment of non-financial assets	3.15 Impairment of non-financial assets A non-financial asset is impaired when an entity will not be able to recover that asset’s carrying value, either through its use or sale. If circumstances arise which indicate that a non-financial asset might be impaired, a review should be undertaken of its cash generating abilities through use or sale. This review will produce an amount which should be compared with the asset’s carrying value, and if the carrying value is higher, the difference must be written off as impairment in profit or loss. On the other hand, if there is any indication that previously recognized impairment losses may no longer exist or may have decreased, the Bank makes an estimate of the recoverable amount. In that case, the carrying amount of the asset is increased to its recoverable amount. This increase cannot exceed the carrying amount that would have been determined, net of depreciation or amortization, had no impairment loss been recognized for the asset in prior years. Such reversal is recognized in profit or loss.
Provisions	3.16 Provisions Provisions are recognized when the Bank has a present obligation (legal or constructive) as a result of a past event, and it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. The expense relating to any provision is presented in profit or loss, net of any reimbursement.
Share-based payments	3.17 Share-based payments Compensation cost is based on the grant date fair value of both stock and options and is recognized over the requisite service period of the employee. The fair value of each option is estimated at the grant date using a binomial option-pricing model. When stock options and restricted stock units vested are exercised, the Bank’s policy is to sell treasury stock, if available.
Equity	3.18 Equity Reserves Regulatory and capital reserves are established as appropriations from retained earnings and, as such, form part of retained earnings. Additions and reductions of regulatory and capital reserves require the approval of the Bank’s Board of Directors and the SBP, as applicable. Other capital reserves, presented as other comprehensive income include: - Translation reserve : The translation reserve comprises all foreign currency differences arising from the translation of the financial statements of foreign operations when the functional currency of the foreign operation is other than the US dollar, as well as the effective portion of any foreign currency differences ari sing from hedges of a net investment in a foreign operation. - Hedging reserve : The hedging reserve comprises the effective part of the cumulative net change in the fair value of the hedging instruments designated in a cash flow hedging relationship, as well as the offsetting effect of currency translation of the hedging items. - Fair value reserve : The fair value reserve comprises the cumulative net change in the fair value of investment securities measured at FVOCI, less the ECL allowance recognized in profit or loss less the risk hedged when an underlying was designated in a fair value hedging relationship. Treasury stock The own equity instruments of the Bank which are acquired by it or by any of its subsidiaries (treasury stock) are deducted from equity and accounted for at weighted average cost. Consideration paid or received on the purchase, sale, issue or cancellation of the Bank’s own equity instruments is recognized directly in equity. No gain or loss is recognized in profit or loss on the purchase, sale, issue or cancellation of own equity instruments, but is recognized directly in equity.
Earnings per share	3.19 Earnings per share Basic earnings per share is computed by dividing the profit for the year (the numerator) by the weighted average number of common shares outstanding (the denominator) during the year. Diluted earnings per share measure performance incorporating the effect that potential common shares, such as stock options and restricted stock units outstanding during the same period, would have on earnings per share. The computation of diluted earnings per share is similar to the computation of basic earnings per share, except for the denominator, which is increased to include the number of additional common shares that would have been issued if the beneficiaries of stock purchase options and restricted stock units plans could exercise their options.
Taxes	3.20 Taxes Income taxes Current tax assets and liabilities for the current and prior years are measured at the amount expected to be recovered from or paid to tax authorities. Tax laws and regulations used to compute those amounts are those enacted or substantively enacted by the reporting date: 3.20 Taxes (continued) - Bladex Head Office is exempted from payment of income taxes in Panama in accordance with the contract law signed between the Republic of Panama and Bladex. - Bladex Representacao Ltda. is subject to income taxes in Brazil. - Bladex Development Corp. is subject to income taxes in Panama. - BLX Soluciones, S.A. de C.V., SOFOM, is subject to income taxes in Mexico. - The New York Agency and Bladex Holdings, Inc., incorporated in USA are subject to federal and local taxation in USA based on the portion of income that is effectively connected with its operations in that country. Current and deferred tax The current tax at the reporting date as well as for the deferred tax, result in a minimal amount, whereby the changes are presented in the consolidated statement of profit or loss as other expenses. The Bank performs an annual assessment of laws and regulations in its different jurisdictions together with its tax experts to determine uncertainty regarding income tax treatments, concluding that there is no uncertainty about tax treatments applied in each tax legislation.
Segment reporting	3.21 Segment reporting The Bank’s activities are managed and executed in two business segments: Commercial and Treasury. Information related to each reportable segment is set out below. Business segment results are based on the Bank’s managerial accounting process, which assigns assets, liabilities, revenue and expense items to each business segment on a systematic basis. The maximum decision-making operating authority of the Bank is represented by the Chief Executive Officer and the Executive Committee, who periodically review the internal management reports for each division. Segment profit, as included in the internal management reports is used to measure performance as management believes that this information is the most relevant in evaluating the results of the respective segments relative to other entities that operate within the same industry. The Bank’s net interest income represents t he main driver of profits; therefore, the Bank presents its interest-earning assets by business segment, to give an indication of the size of business generating net interest income. Interest-earning assets also generate gains and losses on sales, mainly from financial instruments at FVOCI and financial instruments at FVTPL, which are included in other income, net. The Bank also discloses its other assets and contingencies by business segment, to give an indication of the size of business that generates net fees and commissions, also included in other income, net. The Commercial Business Segment encompasses the Bank’s core business of financial intermediation and fee generating activities developed to cater to corporations, financial institutions and investors in Latin America. These activities include the origination of bilateral short-term and medium-term loans, structured and syndicated credits, loan commitments, and financial guarantee contracts such as issued and confirmed letters of credit, stand-by letters of credit, guarantees covering commercial risk, and customers’ liabilities under acceptances. Profits from the Commercial Business Segment include (i) net interest income from loans; (ii) fees and commissions from the issuance, negotiation, acceptance, confirmation and amendment of letters of credit, guarantees and loan commitments, and through loan structuring and syndication activities; ( iii) gain on sale of loans generated through loan intermediation activities, such as infrequent sales in the secondary market; (iv) gain (loss) on sale on financial instruments measured at FVTPL; (v) reversal of (provision) for credit losses, (vi) gain (loss) on other non-financial assets, net; and (vii) direct and allocated operating expenses. 3.21 Segment reporting (continued) The Treasury Business Segment focuses on managing the Bank’s investment portfolio, and the overall structure of its assets and liabilities to achieve more efficient funding and liquidity positions for the Bank, mitigating the traditional financial risks associated with the consolidated statements of financial position, such as liquidity, interest rate and currency rate. Interest-earning assets managed by the Treasury Business Segment include liquidity positions in cash and cash equivalents, as well as highly liquid corporate debt securities rated above ‘A-’, and financial instruments related to the investment management activities, consisting of securities at FVOCI and securities at amortized cost (the “Credit Investment Portfolio”). The Treasury Business Segment also manages the Bank’s interest-bearing liabilities, which constitute its funding sources, mainly deposits, securities sold under repurchase agreements and borrowings and debt, net. Profits from the Treasury Business Segment include (i) net interest income derived from the above mentioned treasury assets and liabilities, (ii) gain (loss) on derivative financial instruments and foreign currency exchange, (iii) gain (loss) on financial instruments at FVOCI, (iv) reversal of (provision) for credit losses on such instruments and (v) direct and allocated operating expenses.
Judgments, estimates and significant accounting assumptions	3.22 Judgments, estimates and significant accounting assumptions The preparation of the consolidated financial statements requires management to make estimates and use assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the reporting date and the reported amounts of revenues and expenses during the year. Significant estimates that are particularly susceptible to significant changes relate to the determination of the allowances for expected credit losses, impairment of securities, and the fair value of financial instruments. Actual results could differ from those estimates. Management believes these estimates are adequate. A. Judgments In the process of applying the Bank’s accounting policies, Management has made the following judgments, which have the most significant effect on the amounts recognized in the consolidated financial statements: Determining the allowance for expected credit losses The Bank individually assesses all credit impaired loans at amortized cost at each reporting date to assess whether an impairment loss is required to be recognized. Management’s judgment is required in the estimation of the amount and timing of future cash flows when determining the impairment loss. These estimates are based on assumptions about several factors and actual results that may vary, resulting in future changes to the allowance. Loans at amortized cost that do not give rise to credit impairment individually are assessed in groups of assets with similar credit risk characteristics. This is to determine whether a provision should be made due to expected loss events for which there is objective evidence, but which effects are not yet evident. The collective assessment takes into account data from the loan portfolio (such as levels of arrears, credit utilization, loan-to-collateral ratios, among others), and judgments on the effect of concentrations of risks and economic data (including levels of unemployment, real estate price indices, country risk and the performance of various individual groups). When establishing ECL, judgment is applied by Management in order to assess the amount and opportunity of the future cash flows with the purpose of evaluating whether credit risk has significantly increased since initial recognition, taking into account the characteristics of the financial asset and the former patterns pre-established for similar financial assets. The changes in risk of default occurring within the next 12 months can be a reasonable approach of the changes in the risk measure according to the lifetime of the instrument. The Bank uses the changes in risk of default occurring within the next 12 months to determine if the credit risk has significantly increased since initial recognition, unless the circumstances indicate an assessment during the lifetime of the instrument is necessary. 3.22 Judgments, estimates and significant accounting assumptions (continued) i. Significant increase in credit risk For the financial assets in stage 1, ECL are measured as an allowance equal to 12-month ECL and lifetime ECL on stage 2 or stage 3 assets. An asset moves to stage 2 or stage 3 when its credit risk has increased significantly since initial recognition. In assessing whether the credit risk of an asset has significantly increased, the Bank takes into account reasonable and supportable forward-looking qualitative and quantitative information. ii. Establishing groups of assets with similar credit risk characteristics When ECL are measured on a collective basis, the financial instruments are grouped on the basis of shared risk characteristics. The Bank monitors the appropriateness of the credit risk characteristics on an ongoing basis to assess whether they continue to be similar. This is required in order to ensure that when credit risk characteristics change there is appropriate re-segmentation of the assets. This may result in new portfolios being created or assets moving to an existing portfolio that reflects the similar credit risk characteristics of that group of assets. Re-segmentation of portfolios and movement between portfolios is more common when there is a significant increase in credit risk (or when that significant increase reverses) and so assets move from 12-month ECL to lifetime ECL, or vice versa, but it can also occur within portfolios that continue to be measured on the same basis of 12-month ECL or lifetime ECL but the amount of ECL changes because the credit risk of the portfolios differs. Determining the fair value on financial instruments i. Models and assumptions used The Bank uses various models and assumptions in measuring fair value of financial assets as well as in estimating ECL. Judgment is applied in identifying the most appropriate model for each type of asset, as well as for determining the assumptions used in these models, including assumptions that relate to key drivers of credit risk. ii. Fair value measurement When the fair values of financial assets and financial liabilities recorded in the consolidated statement of financial position cannot be derived from active markets, they are determined using a variety of valuation techniques that include the use of mathematical models. The inputs to these models are derived from observable market data where possible, but if this is not available, judgment is required to establish fair values. The judgments include considerations of liquidity and model inputs such as volatility for longer–dated derivatives and discount rates, prepayment rates and default rate assumptions for asset-backed securities. The valuation of financial instruments is described in more detail in Note 7. Business model assessment Classification and measurement of financial assets depends on the results of the SPPI and the business model test. The Bank determines the business model at a level that reflects how groups of financial assets are managed together to achieve a particular business objective. This assessment includes judgment reflecting all relevant evidence including how the performance of the assets is evaluated and their performance is measured, and the risks that affect the performance of the assets and how they are managed. The Bank monitors financial assets measured at amortized cost or fair value through other comprehensive income that are derecognized prior to their maturity to understand the reason for their disposal and whether the reasons are consistent with the objective of the business for which the asset was held. 3.22 Judgments, estimates and significant accounting assumptions (continued) B. Estimates and assumptions The key assumptions concerning the future and other key sources of estimating uncertainty at the reporting date, that have a significant risk of causing a significant adjustment to the carrying amounts of assets and liabilities within the next financial year, are described below. The Bank based its assumptions and estimates on parameters available when the consolidated financial statements were prepared. Existing circumstances and assumptions about future developments, however, may change due to market changes or circumstances beyond the control of the Bank. Such changes are reflected in the assumptions when they occur. Going concern The Bank’s management has made an assessment of its ability to continue as a going concern and is satisfied that it has the resources to continue in business for the foreseeable future. Therefore, the consolidated financial statements continue to be prepared on a going concern basis.
Material accounting policy information	3.23 Material accounting policy information The Bank has adopted the Amendments to IAS 1 Presentation of Financial Statements — Disclosure of Accounting Policies from January 1st, 2023 and change the requirements in IAS 1 with regard to disclosure of accounting policies. The amendments replace all instances of the term ‘significant accounting policies’ with ‘significant accounting policy information’. Accounting policy information is significant if, when considered together with other information included in an entity’s financial statements, it can reasonably be expected to influence decisions that the primary users of general purpose financial statements make on the basis of those financial statements. This amendment did not have an impact on the Bank’s consolidated financial statements.

Material accounting policies (T

Material accounting policies (Tables)	12 Months Ended
	Dec. 31, 2023
Significant accounting policies
Schedule of bank's internal credit risk grades to external ratings	The table below provides a mapping of the Bank’s internal credit risk grades to external ratings. Internal 12 - month average PD (1) % External rating (2) Description 1 - 4 0.09 Aaa – Ba1 Exposure in customers or countries with payment ability to satisfy their financial commitments. 5 - 6 2.28 Ba2 – B3 Exposure in customers or countries with payment ability to satisfy their financial commitments, but with more frequent reviews. 7 7.81 Caa1 - Caa3 Exposure in customers whose primary source of payment (operating cash flows) is inadequate, and who show evidence of deterioration in their working capital that does not allow them to satisfy payments on the agreed terms, or in countries where the operation carries certain risks. 8 - 9 34.52 Ca Exposure in customers whose operating cash flows continuously show insufficiency to service the debt on the originally agreed terms, or in countries where the operation is limited or restricted to certain terms, structure and types of credits. 10 100 C Exposure to customers with operating cash flows that do not cover their costs, are in suspension of payments, presumably will also have difficulties fulfilling possible restructuring agreements, are in a state of insolvency, or have filed for bankruptcy, among others. (1) Probability of default (2) Credit rating by Moody’s Investors Service.
Schedule of assets and equipment to their residual values over their estimated useful lives	The estimated useful lives are as follows: Useful life in years Furniture and equipment 3 to 5 years Hardware 3 years Other equipment 2 to 4 years Leasehold improvements 3 to 15 years or up to the lease term

Financial risk review (Tables)

Financial risk review (Tables)	12 Months Ended
	Dec. 31, 2023
Disclosure of credit risk exposure [abstract]
Schedule of Credit Risk Exposure	Loans at amortized cost, outstanding balance December 31, 2023 PD Ranges Stage 1 Stage 2 Stage 3 Total Grades 1 - 4 0.03 - 0.74 2,893,562 — — 2,893,562 Grades 5 - 6 0.75 - 3.80 3,680,969 237,878 — 3,918,847 Grades 7 - 8 3.81 - 34.51 303,445 69,606 — 373,051 Grades 9 - 10 34.52 - 100 — — 10,107 10,107 6,877,976 307,484 10,107 7,195,567 Loss allowance (34,778) (17,734) (6,898) (59,410) Total 6,843,198 289,750 3,209 7,136,157 December 31, 2022 PD Ranges Stage 1 Stage 2 Stage 3 Total Grades 1 - 4 0.03 - 0.74 2,864,686 — — 2,864,686 Grades 5 - 6 0.75 - 3.80 3,645,901 50,625 — 3,696,526 Grades 7 - 8 3.81 - 34.51 123,603 48,098 20,000 191,701 Grades 9 - 10 34.52 - 100 — — 10,107 10,107 6,634,190 98,723 30,107 6,763,020 Loss allowance (28,589) (5,050) (21,561) (55,200) Total 6,605,601 93,673 8,546 6,707,820 Loan commitments, financial guarantees issued and customers’ liabilities under acceptances December 31, 2023 12-month PD Stage 1 Stage 2 Stage 3 Total Commitments and financial guarantees issued Grades 1 - 4 0.03 - 0.74 457,901 — — 457,901 Grades 5 - 6 0.75 - 3.80 416,786 24,996 — 441,782 Grades 7 - 8 3.81 - 34.51 160,473 3,550 — 164,023 1,035,160 28,546 — 1,063,706 Customers' liabilities under acceptances Grades 1 - 4 0.03 - 0.74 163,438 — — 163,438 Grades 5 - 6 0.75 - 3.80 2,009 — — 2,009 Grades 7 - 8 3.81 - 34.51 95,981 — — 95,981 261,428 — — 261,428 1,296,588 28,546 — 1,325,134 Loss allowance (3,905) (1,154) — (5,059) Total 1,292,683 27,392 — 1,320,075 December 31, 2022 12-month PD Stage 1 Stage 2 Stage 3 Total Commitments and financial guarantees issued Grades 1 - 4 0.03 - 0.74 302,260 — — 302,260 Grades 5 - 6 0.75 - 3.80 279,550 1,700 — 281,250 Grades 7 - 8 3.81 - 34.51 195,864 — — 195,864 777,674 1,700 — 779,374 Customers' liabilities under acceptances Grades 1 - 4 0.03 - 0.74 34,258 — — 34,258 Grades 5 - 6 0.75 - 3.80 19,782 — — 19,782 Grades 7 - 8 3.81 - 34.51 109,305 — — 109,305 163,345 — — 163,345 941,019 1,700 — 942,719 Loss allowance (3,605) (23) — (3,628) Total 937,414 1,677 — 939,091 Securities at amortized cost December 31, 2023 12-month DP Stage 1 Stage 2 Stage 3 Total Grades 1 - 4 0.03 - 0.74 913,524 — — 913,524 Grades 5 - 6 0.75 - 3.80 57,674 28,346 — 86,020 971,198 28,346 — 999,544 Loss allowance (1,230) (402) — (1,632) Total 969,968 27,944 — 997,912 December 31, 2022 12-month PD Stage 1 Stage 2 Stage 3 Total Grades 1 - 4 0.03 - 0.74 736,139 — — 736,139 Grades 5 - 6 0.75 - 3.80 154,248 46,589 — 200,837 Grades 7 - 8 3.81 - 34.51 — — 4,995 4,995 890,387 46,589 4,995 941,971 Loss allowance (2,170) (1,779) (4,002) (7,951) Total 888,217 44,810 993 934,020 Securities at FVOCI December 31, 2023 12-month PD Stage 1 Stage 2 Stage 3 Total Grades 1 - 4 0.03 - 0.74 11,824 — — 11,824 11,824 — — 11,824 Loss allowance (1) — — (1) Total 11,823 — — 11,823 December 31, 2022 12-month PD Stage 1 Stage 2 Stage 3 Total Grades 1 - 4 0.03 - 0.74 77,972 — — 77,972 77,972 — — 77,972 Loss allowance (10) — — (10) Total 77,962 — — 77,962
Schedule of Financial Assets that are Either Past Due or Impaired	The following table presents information of the current and past due balances of loans at amortized cost in stages 1, 2 and 3: December 31, 2023 Stage 1 Stage 2 Stage 3 Total Current 6,873,737 311,723 — 7,185,460 Past due — — 10,107 10,107 Total 6,873,737 311,723 10,107 7,195,567 December 31, 2022 Stage 1 Stage 2 Stage 3 Total Current 6,634,190 98,723 — 6,732,913 Defaulters — — 20,000 20,000 Past due — — 10,107 10,107 Total 6,634,190 98,723 30,107 6,763,020
Schedule of Credit Exposure of Derivative Transactions	The following table presents an analysis of counterparty credit exposures arising from derivative transactions. The Bank's derivative fair values are generally secured by cash. December 31, 2023 Notional value Derivative Derivative Interest rate swaps 987,394 11,358 (790) Cross-currency swaps 1,678,042 145,909 (39,823) Total 2,665,436 157,267 (40,613) December 31, 2022 Notional value Derivative Derivative Interest rate swaps 368,711 483 (544) Cross-currency swaps 1,175,570 45,806 (33,217) Foreign exchange forwards 189,173 21,870 — Total 1,733,454 68,159 (33,761)
Schedule of Macroeconomic Assumptions Used in the Base, Optimistic and Pessimistic Scenarios	The table below lists the alert model's macroeconomic assumptions for countries representing the higher exposures, for the base, upside and downside scenarios over the five-year forecasted average available for each reporting period. Variable GDP Growth ComEx Growth Index Scenario December 31, December 31, December 31, December 31, Base 2.1 % 1.9 % 2.5 % 7.1 % Brazil Upside 3.1 % 2.9 % 6.0 % 10.6 % Downside 0.7 % 0.5 % -1.5 % 3.1 % Base 1.8 % 1.7 % 1.4 % 3.1 % Chile Upside 2.9 % 2.8 % 4.9 % 6.6 % Downside 0.6 % 0.5 % -2.6 % -0.9 % Base 2.4 % 3.6 % 0.2 % 8.4 % Colombia Upside 3.5 % 4.7 % 3.2 % 11.4 % Downside 1.1 % 2.3 % -3.3 % 4.9 % Base 4.2 % 4.8 % 3.6 % 5.8 % Dominican Republic Upside 5.4 % 6.0 % 7.1 % 9.3 % Downside 2.9 % 3.5 % -0.4 % 1.8 % Base 1.8 % 2.6 % 0.2 % 5.7 % Ecuador Upside 2.8 % 3.6 % 3.2 % 8.7 % Downside 0.3 % 1.1 % -3.3 % 2.2 % Base 3.4 % 3.5 % 4.7 % 5.8 % Guatemala Upside 4.4 % 4.5 % 7.7 % 8.8 % Downside 2.2 % 2.3 % 1.2 % 2.3 % Base 2.4 % 1.9 % 4.9 % 6.4 % Mexico Upside 3.4 % 2.9 % 8.9 % 10.4 % Downside 1.2 % 0.7 % 0.4 % 1.9 % Base 2.3 % 2.9 % 2.7 % 4.9 % Peru Upside 3.3 % 3.9 % 6.2 % 8.4 % Downside 1.1 % 1.7 % -1.3 % 0.9 %
Schedule of Reconciliation of Changes in Loss Allowance and Explanation of Changes in Gross Carrying Amount for Financial Instruments	The following tables show reconciliations from the opening to the closing balances of the loss allowance by class of financial instrument. The basis for determining transfers due to changes in credit risk is set out in our accounting policy in Note 3.4 (K). A. Credit risk (continued) Loans at amortized cost Stage 1 Stage 2 Stage 3 Total Allowance for expected credit losses as of December 31, 2022 28,589 5,050 21,561 55,200 Transfer to lifetime expected credit losses (752) 752 — — Net effect of changes in allowance for expected credit losses (2,363) 11,195 6,481 15,313 Financial instruments that have been derecognized during the year (17,950) (879) — (18,829) New instruments originated or purchased 27,254 1,616 — 28,870 Write-offs — — (21,144) (21,144) Allowance for expected credit losses as of December 31, 2023 34,778 17,734 6,898 59,410 Stage 1 Stage 2 Stage 3 Total Allowance for expected credit losses as of December 31, 2021 20,115 16,175 5,186 41,476 Transfer to lifetime expected credit losses (29) 29 — — Transfer to 12-month expected credit losses 176 (176) — — Transfer to credit-impaired financial instruments (130) — 130 — Net effect of changes in allowance for expected credit losses (1,718) (10,146) 16,072 4,208 Financial instruments that have been derecognized during the year (12,385) (832) — (13,217) New instruments originated or purchased 22,560 — — 22,560 Write-offs — — (893) (893) Recoveries — — 1,066 1,066 Allowance for expected credit losses as of December 31, 2022 28,589 5,050 21,561 55,200 The allowance for expected credit losses on loan commitments and financial guarantee contracts reflects the Bank’s Management is 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, 2022 3,605 23 — 3,628 Transfer to lifetime expected credit losses (24) 24 — — Transfer to 12-month expected credit losses 22 (22) — — Net effect of changes in reserve for expected credit losses (58) 21 — (37) Financial instruments that have been derecognized during the year (2,824) — — (2,824) New instruments originated or purchased 3,184 1,108 — 4,292 Allowance for expected credit losses as of December 31, 2023 3,905 1,154 — 5,059 Stage 1 Stage 2 Stage 3 Total Allowance for expected credit losses as of December 31, 2021 3,472 331 — 3,803 Transfer to 12-month expected credit losses 133 (133) — — Net effect of changes in reserve for expected credit losses (160) (39) — (199) Financial instruments that have been derecognized during the year (2,981) (136) — (3,117) New instruments originated or purchased 3,141 — — 3,141 Allowance for expected credit losses as of December 31, 2022 3,605 23 — 3,628 Securities at amortized cost Stage 1 Stage 2 Stage 3 Total Allowance for expected credit losses as of December 31, 2022 2,170 1,779 4,002 7,951 Transfer to lifetime expected credit losses (46) 46 — — Net effect of changes in allowance for expected credit losses (58) 547 1,252 1,741 Financial instruments that have been derecognized during the year (1,074) (218) — (1,292) New financial assets originated or purchased 238 — — 238 Writte-offs — (1,752) (5,254) (7,006) Allowance for expected credit losses as of December 31, 2023 1,230 402 — 1,632 A. Credit risk (continued) Stage 1 Stage 2 Stage 3 Total Allowance for expected credit losses as of December 31, 2021 1,790 — — 1,790 Transfer to lifetime expected credit losses (46) 46 — — Transfer to credit-impaired financial instruments (33) — 33 — Net effect of changes in allowance for expected credit losses (13) 941 3,969 4,897 Financial instruments that have been derecognized during the year (420) — — (420) New financial assets originated or purchased 892 792 — 1,684 Allowance for expected credit losses as of December 31, 2022 2,170 1,779 4,002 7,951 Securities at FVOCI Stage 1 Stage 2 Stage 3 Total Allowance for expected credit losses as of December 31, 2022 10 — — 10 Financial instruments that have been derecognized during the year (11) — — (11) New financial assets originated or purchased 2 — — 2 Allowance for expected credit losses as of December 31, 2023 1 — — 1 Stage 1 Stage 2 Stage 3 Total Allowance for expected credit losses as of December 31, 2021 26 — — 26 Financial instruments that have been derecognized during the year (16) — — (16) Allowance for expected credit losses as of December 31, 2022 10 — — 10 The following table provides a reconciliation between: - Amounts shown in the previous tables reconciling opening and closing balances of loss allowance per class of financial instrument; and - The (reversal) provision for credit losses’ line item in the consolidated statement of profit or loss. A. Credit risk (continued) Loans at amortized Loan commitments Securities December 31, 2023 At amortized cost FVOCI Total Net effect of changes in allowance for expected credit losses 15,313 (37) 1,741 — 17,017 Financial instruments that have been derecognized during the year (18,829) (2,824) (1,292) (11) (22,956) New financial assets originated or purchased 28,870 4,292 238 2 33,402 Total 25,354 1,431 687 (9) 27,463 Loans at amortized Loan commitments Securities December 31, 2022 At amortized cost FVOCI Total Net effect of changes in allowance for expected credit losses 4,208 (199) 4,897 — 8,906 Financial instruments that have been derecognized during the year (13,217) (3,117) (420) (16) (16,770) New financial assets originated or purchased 22,560 3,141 1,684 — 27,385 Total 13,551 (175) 6,161 (16) 19,521 Loans at amortized Loan commitments Securities December 31, 2021 At amortized cost FVOCI Total Net effect of changes in allowance for expected credit losses (2,477) (54) (20) — (2,551) Financial instruments that have been derecognized during the year (14,715) (1,948) (193) (17) (16,873) New financial assets originated or purchased 17,343 2,901 1,508 — 21,752 Total 151 899 1,295 (17) 2,328
Schedule of Reconciliation of Changes in the Net Carrying Amount of Credit-Impaired Loans	The following table sets out a reconciliation of changes in the carrying amount of the allowance for credit losses for credit-impaired financial assets: December 31, 2023 2022 Credit-impaired loans at beginning of year 21,561 5,186 Classified as credit-impaired during the year — 130 Change in allowance for expected credit losses 6,181 14,606 Write-offs (21,144) (893) Recoveries of amounts previously written off — 1,066 Interest income 300 1,466 Credit-impaired loans at end of year 6,898 21,561 December 31, 2023 2022 Investments at amortized cost with credit impairment at beginning of year 4,002 — Classified as credit-impaired during the year — 33 Change in allowance for expected credit losses 1,249 3,717 Interest income 3 252 Write-offs (5,254) — Investments at amortized cost with credit impairment at end of year — 4,002
Schedule of Concentrations of Credit Risk by Sector and Industry	Concentration by sector and industry Loans at Loan commitments Securities At amortized cost FVOCI December 31, December 31, December 31, December 31, December 31, December 31, December 31, December 31, Carrying amount - principal 7,195,567 6,763,020 261,428 163,345 999,544 941,971 11,824 77,972 Amount committed/guaranteed — — 1,063,706 779,374 — — — — Concentration by sector Corporations: Private 3,192,357 2,553,193 727,379 409,139 582,877 543,381 — 24,773 State-owned 1,204,471 1,115,932 115,542 110,468 20,619 51,388 — — Financial institutions: Private 2,248,150 2,245,385 97,381 120,614 311,870 250,975 — — State-owned 464,917 719,882 384,832 302,498 35,149 31,902 11,824 53,199 Sovereign 85,672 128,628 — — 49,029 64,325 — — Total 7,195,567 6,763,020 1,325,134 942,719 999,544 941,971 11,824 77,972 Concentration by industry Financial institutions 2,713,067 2,965,266 482,213 423,112 351,463 282,878 11,824 53,199 Manufacturing 1,702,514 1,341,453 464,433 293,659 346,140 339,914 — 14,898 Oil and petroleum derived products 1,330,526 1,244,491 106,518 104,426 95,144 77,553 — 9,875 Agricultural 239,498 317,037 22,546 3,854 — — — — Services 465,113 267,868 108,632 55,430 84,840 64,412 — — Mining 328,415 150,707 26,329 — 9,690 24,381 — — Sovereign 85,672 128,628 — — 49,029 64,325 — — Other 330,762 347,570 114,463 62,238 63,238 88,508 — — Total 7,195,567 6,763,020 1,325,134 942,719 999,544 941,971 11,824 77,972
Schedule of Concentrations of Credit Risk by Rating and Country	Risk rating and concentration by country Loans at Loan commitments Securities At amortized cost FVOCI December 31, December 31, December 31, December 31, December 31, December 31, December 31, December 31, Carrying amount - principal 7,195,567 6,763,020 261,428 163,345 999,544 941,971 11,824 77,972 Amount committed/guaranteed — — 1,063,706 779,374 — — — — Rating 1-4 2,893,562 2,864,685 621,339 336,519 913,524 736,139 11,824 77,972 5-6 3,918,848 3,696,527 443,791 301,031 86,020 200,837 — — 7-8 373,050 191,701 260,004 305,169 — 4,995 — — 10 10,107 10,107 — — — — — — Total 7,195,567 6,763,020 1,325,134 942,719 999,544 941,971 11,824 77,972 Concentration by country Argentina 52,264 55,598 — — — — — — Australia — — — — 4,803 9,628 — — Belgium 14,223 25,362 — — — — — — Bolivia — — 4,270 3,759 — — — — Brazil 1,008,633 980,205 83,932 54,907 31,009 69,501 — — Canada 22,599 — 24,996 — 38,508 13,503 — — Chile 454,885 416,714 16,423 44,846 79,495 112,586 — — Colombia 938,897 702,409 67,545 54,333 23,837 54,484 — — Korea — — — — 1,839 — — — Costa Rica 284,709 260,625 51,895 56,718 7,988 9,926 — — Denmark — — — 11,880 — — — — Dominican Republic 637,199 579,918 157,986 27,534 4,705 4,828 — — Ecuador 190,628 110,466 259,597 305,168 — — — — El Salvador 82,500 30,032 — — — — — — France 27,454 126,929 96,249 66,906 — — — — Germany — — 15,000 10,000 14,750 — — — Guatemala 704,012 745,837 100,227 67,456 — — — — Honduras 221,672 176,270 975 3,615 — — — — Hong Kong 15,000 2,800 — — — — — — Ireland — — — — 14,976 9,579 — — Israel — — — — 4,788 4,880 — — Italy — — — — 14,660 — — — Jamaica 101,858 14,083 — — — — — — Japan 12,037 14,712 — — 38,548 4,353 — — Luxembourg 89,833 114,557 — — — — — — Mexico 838,495 823,028 83,561 69,080 62,229 100,870 — — Netherlands — — 800 — — — — — Norway — — — — 9,838 — — — Panama 374,364 533,452 29,301 19,240 33,977 29,065 — — Paraguay 186,426 151,287 230 3,430 — — — — Peru 536,236 478,998 223,460 114,941 30,635 60,575 — — Singapore 145,807 152,208 7,057 24,333 — — — — Trinidad and Tobago 132,783 128,846 — — — — — — United States of America 74,139 53,463 — 3,349 539,727 458,193 — 43,464 United Kingdom 37,314 51,221 — — 43,232 — — — Uruguay 11,600 34,000 101,630 1,224 — — — — Multilateral — — — — — — 11,824 34,508 Total 7,195,567 6,763,020 1,325,134 942,719 999,544 941,971 11,824 77,972
Schedule of Offsetting Financial Assets and Liabilities	The following tables include financial assets and liabilities that are offset in the consolidated financial statement or subject to an enforceable master netting arrangement: a) Derivative financial instruments – assets December 31, 2023 Gross Gross amounts Net amount of Gross amounts not offset in Net Financial Cash collateral Derivative financial instruments used for hedging 157,267 — 157,267 — (152,111) 5,156 Total 157,267 — 157,267 — (152,111) 5,156 December 31, 2022 Gross Gross amounts Net amount of Gross amounts not offset in Net Financial Cash collateral Derivative financial instruments used for hedging 68,159 — 68,159 — (50,615) 17,544 Total 68,159 — 68,159 — (50,615) 17,544 Securities sold under repurchase agreements and derivative financial instruments – liabilities December 31, 2023 Gross Gross amounts Net amount of Gross amounts not offset in the Net Financial Cash collateral Securities sold under repurchase agreements at amortized cost (310,197) — (310,197) 342,271 8,087 40,161 Derivative financial instruments used for hedging at FVTPL (40,613) — (40,613) — 34,297 (6,316) Total (350,810) — (350,810) 342,271 42,384 33,845 December 31, 2022 Gross Gross amounts Net amount of Gross amounts not offset in Net Financial Cash collateral Securities sold under repurchase agreements at amortized cost (300,498) — (300,498) 791,956 22,947 514,405 Derivative financial instruments used for hedging at FVTPL (33,761) — (33,761) — 17,702 (16,059) Total (334,259) — (334,259) 791,956 40,649 498,346
Schedule of Bank's Liquid Assets Along with Average Information	The following table details the Bank’s liquidity ratios: December 31, 2023 2022 At the end of the year 205.8 % 167.5 % Year average 177.2 % 132.6 % Maximum of the year 357.0 % 276.9 % Minimun of the year 111.5 % 81.2 %
Schedule of Bank's Liquid Assets by Geographical Location	The following table includes the Bank’s liquid assets by country risk: December 31, 2023 December 31, 2022 (in millions of USD dollars) Cash and due from Securities FVOCI Total Cash and due from Securities FVOCI Total United States of America 1,904 — 1,904 1,151 43 1,194 Latin America 7 — 7 15 — 15 Other countries 1 — 1 — — — Multilateral 75 12 87 25 35 60 Total 1,987 12 1,999 1,191 78 1,269
Schedule of Bank's Demand Deposits Ratio on Total Deposits	The following table includes the Bank’s demand deposits from customers and its ratio to total deposits from customers: December 31, 2023 2022 (in millions of USD dollars) Demand and "overnight" deposits 748 583 Demand and "overnight" deposits to total deposits 17.0 % 18.3 %
Schedule of Bank's Demand Deposits from Customers is Satisfied by the Bank's Liquid Assets	The liquidity requirements resulting from the Bank’s demand deposits from customers is satisfied by the Bank’s liquid assets as follows: December 31, (in millions of USD dollars) 2023 2022 Total liquid assets 1,999 1,269 Total assets to total liabilities 45.4 % 39.8 % Total liquid assets in the Federal 94.3 % 90.2 %
Schedule of Bank's Loans and Securities Short-Term Portfolio with Maturity Within One Year	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: December 31, (in millions of USD dollars) 2023 2022 Loan portfolio at amortized cost and investment portfolio less than/equal to 1 year according to its original terms 4,087 4,008 Average term (days) 197 200
Schedule of Bank's Loans and Securities Short-Term Portfolio with Medium Term Maturity	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: December 31, (in millions of USD dollars) 2023 2022 Loan portfolio at amortized cost and investment portfolio greater than/equal to 1 year according to its original terms 4,119 3,775 Average term (days) 1381 1367
Schedule of Future Cash Flows Between Assets and Liabilities Grouped by its Remaining Maturity with Respect to the Contractual Maturity	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: December 31, 2023 Up to 3 3 to 6 months 6 months to 1 1 to 5 years More than 5 Gross inflows Carrying Assets Cash and due from banks 2,048,021 — — — — 2,048,021 2,047,452 Securities 10,992 89,836 110,816 886,944 32,117 1,130,705 1,022,131 Loans 1,935,474 1,775,280 1,524,298 2,580,310 243,491 8,058,853 7,220,520 Derivative financial instruments - assets 2,510 5,783 54,983 90,516 3,473 157,265 157,267 Total 3,996,997 1,870,899 1,690,097 3,557,770 279,081 11,394,844 10,447,370 Liabilities Deposits (3,270,253) (536,751) (606,002) (90,194) — (4,503,200) (4,451,025) Securities sold under repurchase agreements (317,951) — — — — (317,951) (310,197) Borrowings and debt (856,466) (746,314) (989,680) (2,167,620) (59,762) (4,819,842) (4,401,205) Lease liabilities (284) (286) (572) (4,728) (10,837) (16,707) (16,707) Derivative financial instruments - liabilities (17,188) (1,994) (7,849) (11,661) (2,034) (40,726) (40,613) Total (4,462,142) (1,285,345) (1,604,103) (2,274,203) (72,633) (9,698,426) (9,219,747) Subtotal net position (465,145) 585,554 85,994 1,283,567 206,448 1,696,418 1,227,623 Off-balance sheet contingencies Confirmed letters of credit 264,603 64,100 345 16,560 — 345,608 Stand-by letters of credit and guarantees 196,775 79,659 199,192 15,000 — 490,626 Credit commitments 20,000 39,497 37,545 130,430 — 227,472 Total 481,378 183,256 237,082 161,990 — 1,063,706 Total net position (946,523) 402,298 (151,088) 1,121,577 206,448 632,712 B. Liquidity risk (continued) December 31, 2022 Up to 3 3 to 6 6 months to 1 1 to 5 years More than 5 Gross inflows Carrying Assets Cash and due from banks 1,241,779 — — — — 1,241,779 1,241,586 Securities 129,983 105,789 98,345 744,996 10,293 1,089,406 1,023,632 Loans 2,294,259 1,478,494 1,223,661 2,244,454 158,967 7,399,835 6,760,434 Derivative financial instruments - assets 4,216 10,831 14,015 39,097 — 68,159 68,159 Total 3,670,237 1,595,114 1,336,021 3,028,547 169,260 9,799,179 9,093,811 Liabilities Deposits (2,770,754) (256,989) (161,889) (39,805) — (3,229,437) (3,205,386) Securities sold under repurchase agreements (53,418) (64,513) (55,144) (138,286) — (311,361) (300,498) Borrowings and debt (776,584) (895,531) (934,288) (2,212,704) (41,523) (4,860,630) (4,464,389) Lease liabilities (384) (384) (738) (5,769) (13,771) (21,046) (16,745) Derivative financial instruments - liabilities (3,702) (764) (63) (26,882) (2,350) (33,761) (33,761) Total (3,604,842) (1,218,181) (1,152,122) (2,423,446) (57,644) (8,456,235) (8,020,779) Subtotal net position 65,395 376,933 183,899 605,101 111,616 1,342,944 1,073,032 Off-balance sheet contingencies Confirmed letters of credit 166,367 117,398 21,024 — — 304,789 Stand-by letters of credit and guarantees 132,353 117,750 92,750 8,772 — 351,625 Credit commitments — 13,102 32,906 76,952 — 122,960 Total 298,720 248,250 146,680 85,724 — 779,374 Total net position (233,325) 128,683 37,219 519,377 111,616 563,570
Schedule of Liquidity Reserves	The following table sets out the components of the Banks’s liquidity reserves: December 31, 2023 December 31, 2022 Amount Fair value Amount Fair value Balances with Federal Reserve of the United 1,884,204 1,884,204 1,144,896 1,144,896 Cash and due from banks (1) 102,864 102,864 46,040 46,040 Total 1,987,068 1,987,068 1,190,936 1,190,936 (1) Excludes pledged deposits.
Schedule of Financial Assets Available to Support Future Funding	The following table sets out the Bank’s financial assets available to support future funding: December 31, 2023 December 31, 2022 Pledged as collateral Available as collateral Pledged as collateral Available as collateral Cash and due from banks 60,384 1,987,066 50,650 1,190,936 Notional of investment securities 400,825 619,533 331,571 672,042 Loans at amortized cost — 7,195,567 — 6,763,020 Total 461,209 9,802,166 382,221 8,625,998
Schedule of Bank's Interest Rate Gap Position	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 liabili ties: December 31, 2023 Up to 3 3 to 6 6 months to 1 to 5 years More than 5 Without interest Total Assets Cash and due from banks 2,044,103 — — — — 3,349 2,047,452 Securities 14,169 60,256 82,951 824,836 29,156 — 1,011,368 Loans 4,292,324 1,699,301 915,143 280,005 8,794 — 7,195,567 Total 6,350,596 1,759,557 998,094 1,104,841 37,950 3,349 10,254,387 Liabilities Demand deposits and time deposits (3,553,774) (442,338) (342,686) (59,029) — (10,322) (4,408,149) Securities sold under repurchase agreements (310,197) — — — — — (310,197) Borrowings and debt (2,653,379) (381,795) (483,731) (818,947) (14,136) — (4,351,988) Total (6,517,350) (824,133) (826,417) (877,976) (14,136) (10,322) (9,070,334) Net effect of derivative financial instruments held for interest risk management (3,485) 3,790 47,134 78,855 1,439 — 127,733 Total interest rate sensitivity (170,239) 939,214 218,811 305,720 25,253 (6,973) 1,311,786 C. Market risk (continued) December 31, 2022 Up to 3 3 to 6 6 months to 1 to 5 years More than 5 Without interest Total Assets Cash and due from banks 1,233,700 — — — — 7,886 1,241,586 Securities 112,736 114,815 82,666 701,749 7,977 — 1,019,943 Loans 2,956,268 2,531,067 1,007,343 240,949 27,393 — 6,763,020 Total 4,302,704 2,645,882 1,090,009 942,698 35,370 7,886 9,024,549 Liabilities Demand deposits and time deposits (2,746,776) (250,299) (153,862) (35,082) — (4,697) (3,190,716) Securities sold under repurchase agreements (52,164) (62,968) (53,740) (131,626) — — (300,498) Borrowings and debt (1,354,457) (953,503) (1,083,543) (999,151) (25,857) — (4,416,511) Total (4,153,397) (1,266,770) (1,291,145) (1,165,859) (25,857) (4,697) (7,907,725) Net effect of derivative financial instruments held for interest risk management 476 41 2,145 12,215 (2,350) — 12,527 Total interest rate sensitivity 149,783 1,379,153 (198,991) (210,946) 7,163 3,189 1,129,351
Schedule of Sensitivity Analysis of Fair Value Due to Change in Interest Rate.	The following table presents the sensitivity analysis performed for the Bank: Change in Effect on Effect on equity Effect on equity value (EVE) December 31, 2023 +50 bps 1,669 3,881 (9,047) -50 bps (1,786) (2,861) 9,199 December 31, 2022 +50 bps 4,559 2,904 676 -50 bps (4,629) (1,808) (206)
Schedule of Risk Arising from Financial Instruments	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. December 31, 2023 Brazilian European Japanese Colombian Mexican Other currencies (1) Total Exchange rate 4.85 1.10 141.00 3,875.97 16.98 Assets Cash and due from banks 10 387 45 35 1,314 14 1,805 Loans — 30,360 — — 304,529 — 334,889 Total 10 30,747 45 35 305,843 14 336,694 Liabilities Borrowings and debt — (30,360) — — (305,631) — (335,991) Total — (30,360) — — (305,631) — (335,991) Net currency position 10 387 45 35 212 14 703 C. Market risk (continued) December 31, 2022 Brazilian European euro Japanese Colombian Mexican Other currencies (1) Total Exchange rate 5.29 1.07 130.96 4,854.37 19.50 Assets Cash and due from banks 26 53 4 9 5,439 38 5,569 Loans — — — — 301,765 — 301,765 Total 26 53 4 9 307,204 38 307,334 Liabilities Borrowings and debt — — — — (306,603) — (306,603) Total — — — — (306,603) — (306,603) Net currency position 26 53 4 9 601 38 731 (1) It includes other currencies such as: Argentine pesos, Australian dollar, Swiss franc, Sterling pound and Peruvian soles.

Fair value of financial instr_2

Fair value of financial instruments (Tables)	12 Months Ended
	Dec. 31, 2023
Fair value of financial instruments
Schedule of Financial Instruments Measured at Fair Value on a Recurring Basis by Caption on the Consolidated Statement of Financial Position Using the Fair Value Hierarchy	Financial instruments measured at fair value by caption on the consolidated statement of financial position using the fair value hierarchy are described below: December 31, 2023 Level 1 Level 2 Level 3 Total Assets Securities at FVOCI - Corporate debt — 11,865 — 11,865 Derivative financial instruments - assets: Interest rate swaps — 11,358 — 11,358 Cross-currency swaps — 145,909 — 145,909 Total derivative financial instrument assets — 157,267 — 157,267 Total assets at fair value — 169,132 — 169,132 Liabilities Derivative financial instruments - liabilities: Interest rate swaps — 790 — 790 Cross-currency swaps — 39,823 — 39,823 Total derivative financial instruments - liabilities — 40,613 — 40,613 Total liabilities at fair value — 40,613 — 40,613 A. Measured at fair value (continued) December 31, 2022 Level 1 Level 2 Level 3 Total Assets Securities at FVOCI - Corporate debt — 78,372 — 78,372 Derivative financial instruments - assets: Interest rate swaps — 483 — 483 Cross-currency swaps — 45,806 — 45,806 Foreign exchange forwards — 21,870 — 21,870 Total derivative financial instrument assets — 68,159 — 68,159 Total assets at fair value — 146,531 — 146,531 Liabilities Derivative financial instruments - liabilities: Interest rate swaps — 544 — 544 Cross-currency swaps — 33,217 — 33,217 Total derivative financial instruments - liabilities — 33,761 — 33,761 Total liabilities at fair value — 33,761 — 33,761
Schedule of Carrying Value and an Estimated Fair Value of the Bank's Financial Instruments that are not Measured on a Recurring Basis	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: December 31, 2023 Carrying Fair Level 1 Level 2 Level 3 Assets Cash and deposits in banks 2,047,452 2,047,452 — 2,047,452 — Securities at amortized cost (1) 1,010,266 997,341 — 997,341 — Loans at amortized cost (2) 7,220,520 7,267,429 — 7,267,429 — Customers' liabilities under acceptances 261,428 261,428 — 261,428 — Liabilities Deposits 4,451,025 4,451,025 — 4,451,025 — Securities sold under repurchase agreements 310,197 310,197 — 310,197 — Borrowings and debt, net 4,351,988 4,357,271 — 4,357,271 — Acceptances outstanding 261,428 261,428 — 261,428 — December 31, 2022 Carrying Fair Level 1 Level 2 Level 3 Assets Cash and deposits in banks 1,241,586 1,241,586 — 1,241,586 — Securities at amortized cost (1) 945,260 895,154 — 894,034 1,120 Loans at amortized cost, net (2) 6,760,434 6,785,652 — 6,785,652 — Customers' liabilities under acceptances 163,345 163,345 — 163,345 — Liabilities Deposits 3,205,386 3,205,386 — 3,205,386 — Securities sold under repurchase agreements 300,498 300,498 — 300,498 — Borrowings and debt, net 4,416,511 4,389,902 — 4,389,902 — Acceptances outstanding 163,345 163,345 — 163,345 — (1) The carrying value of securities at amortized cost is net of accrued interest receivable of $12.4 million and the allowance for expected credit losses of $1.6 million as of December 31, 2023 (accrued interest receivable of $11.2 million and the allowance for expected credit losses of $8.0 million as of December 31, 2022). (2) The carrying value of loans at amortized cost is net of accrued interest receivable of $109.1 million, the allowance for expected credit losses of $59.4 million and unearned interest and deferred fees of $24.7 million as of December 31, 2023 (accrued interest receivable of $70.0 million, the allowance for expected credit losses of $55.2 million and unearned interest and deferred fees of $17.3 million as of December 31, 2022).

Cash and due from banks (Tables

Cash and due from banks (Tables)	12 Months Ended
	Dec. 31, 2023
Cash and due from banks
Schedule of Interest-Bearing Deposits in Banks and Pledged Deposits and Breakdown in Banks and Pledged Deposits by Country Risk	The following table presents the details of interest-bearing deposits in banks and restricted deposits: December 31, 2023 2022 Unrestricted deposits with the Federal Reserve of the United States of America 1,884,204 1,144,896 Cash and non-interest-bearing deposits in other banks 3,349 7,886 Cash and interest-bearing deposits in other banks (1) 159,899 88,804 Total cash and due from banks 2,047,452 1,241,586 Less: Time deposits with original maturity over 90 days and other restricted deposits (1) 60,384 50,650 Total cash and due from banks in the consolidated statement of cash flows 1,987,068 1,190,936 The following table presents the restricted deposits classified by country risk: December 31, 2023 2022 United States of America (1) 20,700 11,387 Japan 14,820 — Switzerland 13,747 16,797 Germany 5,775 5,380 Canada 5,342 — Spain — 12,814 United Kingdom — 4,272 Total 60,384 50,650 (1) As of December 31, 2023 includes restricted deposit of $18.0 million (December 31, 2022: $10.0 million) with the New York State Department of Financial Services under March 1994 legislation and margin call deposits collateralizing derivative financial instrument transactions.

Securities (Tables)

Securities (Tables)	12 Months Ended
	Dec. 31, 2023
Securities and other financial assets, net
Schedule of All Securities and Other Financial Assets	Securities are presented as follows: December 31, 2023 Amortized cost FVOCI Total Principal 999,544 11,824 1,011,368 Interest receivable 12,354 41 12,395 Allowance (1) (1,632) — (1,632) 1,010,266 11,865 1,022,131 December 31, 2022 Amortized cost FVOCI Total Principal 941,971 77,972 1,019,943 Interest receivable 11,240 400 11,640 Allowance (1) (7,951) — (7,951) 945,260 78,372 1,023,632 (1)
Schedule of All Securities and Other Financial Assets by Contractual Maturity	Securities by contractual maturity are shown in the following table: December 31, 2023 Amortized cost FVOCI Total Due within 1 year 157,376 — 157,376 After 1 year but within 5 years 813,012 11,824 824,836 After 5 years but within 10 years 29,156 — 29,156 Balance - principal 999,544 11,824 1,011,368 December 31, 2022 Amortized cost FVOCI Total Due within 1 year 222,666 77,972 300,638 After 1 year but within 5 years 711,328 — 711,328 After 5 years but within 10 years 7,977 — 7,977 Balance - principal 941,971 77,972 1,019,943
Schedule of Securities Pledge to Secure Repurchase Transactions	The following table includes the securities pledged to secure repurchase transactions (see note 19): December 31, 2023 2022 Securities pledged to secure repurchase transactions 342,271 345,187 Securities sold under repurchase agreements (310,197) (300,498)

Loans (Tables)

Loans (Tables)	12 Months Ended
	Dec. 31, 2023
Borrowings [abstract]
Summary of Loan Portfolio According to Classification and Subsequent Measurement	The following table presents the loan portfolio according to its classification and subsequent measurement: December 31, 2023 2022 Loans, outstanding balance 7,195,567 6,763,020 Interest receivable 109,082 69,965 Loss allowance (59,410) (55,200) Unearned interest and deferred fees (24,719) (17,351) Loans, net 7,220,520 6,760,434
Schedule of Fixed and Floating Interest Rate Distribution of the Loan Portfolio	The fixed and floating interest rate distribution of the loan portfolio is as follows: December 31, 2023 2022 Fixed interest rate 3,828,485 3,827,083 Floating interest rates 3,367,082 2,935,937 Total 7,195,567 6,763,020
Summary of Information Related to Loans Granted to Shareholders	The following table details information relating to loans granted to class A and B shareholders: December 31, 2023 2022 Loans to class A and B shareholders 397,300 834,768 % Loans to class A and B shareholders over total loan portfolio 6 % 12 % % Class A and B stockholders with loans over number of class A and B stockholders 10 % 11 %

Loan commitments and financia_2

Loan commitments and financial guarantee contracts (Tables)	12 Months Ended
	Dec. 31, 2023
Loan commitments and financial guarantee contracts
Schedule of Bank's Outstanding Loan Commitments and Financial Guarantee Contracts	The Bank’s outstanding loan commitments and financial guarantee contracts are as follows: December 31, 2023 2022 Documentary letters of credit 345,608 304,789 Stand-by letters of credit and guarantees - commercial risk 490,626 351,625 Credit commitments 227,472 122,960 Total 1,063,706 779,374
Schedule of Remaining Maturity Profile of the Bank's Outstanding Loan Commitments and Financial Guarantee Contracts	The remaining maturity profile of the Bank’s outstanding loan commitments and financial guarantee contracts is as follows: December 31, 2023 2022 Up to 1 year 901,716 693,650 From 1 to 2 years 84,581 15,956 Over 2 to 5 years 77,409 69,768 Total 1,063,706 779,374

Gain (loss) on financial inst_2

Gain (loss) on financial instruments, net (Tables)	12 Months Ended
	Dec. 31, 2023
Disclosure of detailed information about financial instruments [abstract]
Schedule of Gain or Loss on Financial Instrument Recognized in the Consolidated Statements of Profit or Loss	The amounts that were recognized in profit or loss related to the results of financial instruments are detailed below: December 31, 2023 2022 2021 Gain (loss) on derivative financial instruments and foreign currency exchange, net 3,813 (1,920) (1,870) Unrealized gain on financial instruments at FVTPL — — 227 Realized gain on financial instruments at FVTPL — 510 — (Loss) gain on sale of financial instruments at amortized cost (3,858) — 333 Realized gain on financial instruments at FVOCI — — 14 (45) (1,410) (1,296)

Derivative financial instrume_2

Derivative financial instruments (Tables)	12 Months Ended
	Dec. 31, 2023
Derivative financial instruments
Notional Amounts and Carrying Amounts of Derivatives	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: December 31, 2023 Notional amount Carrying amount of hedging Asset (1) Liability (1) Interest rate risk Fair value hedges 987,394 11,358 (790) Interest rate and foreign exchange risk Fair value hedges 374,654 38,088 (14,290) Cash flow hedges 1,303,388 107,821 (25,533) 2,665,436 157,267 (40,613) December 31, 2022 Notional amount Carrying amount of hedging Asset (1) Liability (1) Interest rate risk Fair value hedges 293,711 340 (543) Cash flow hedges 75,000 143 (1) Interest rate and foreign exchange risk Fair value hedges 252,793 4,129 (16,237) Cash flow hedges 922,777 41,677 (16,980) Foreign exchange risk Cash flow hedges 189,173 21,870 — 1,733,454 68,159 (33,761) (1) Included in the consolidated statement of financial position under the line Derivative financial instruments - assets or liabilities.
Schedule of Notional Amounts and Carrying Amounts of Derivative Instruments	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: December 31, 2023 Notional amount Carrying amount of 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 10,000 — (519) (113) 7 Securities at amortized cost 10,000 101 — (109) 144 Deposits 307,000 3,564 — 600 12 Borrowings and debt 660,394 7,693 (271) 5,152 176 Interest rate and foreign exchange risk Borrowings and debt 374,654 38,088 (14,290) 36,710 2,908 Total 1,362,048 49,446 (15,080) 42,240 3,247 December 31, 2022 Notional amount Carrying amount of 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 155,511 134 (543) 1,607 (18) Securities at amortized cost 10,000 178 — 167 (62) Borrowings and debt 128,200 28 — (3,457) (111) Interest rate and foreign exchange risk Loans 1,938 108 — (227) (129) Borrowings and debt 250,855 4,021 (16,237) 8,072 (1,548) Total 546,504 4,469 (16,780) 6,162 (1,868) (1) Included in the consolidated statement of financial position under the line Derivative financial instruments - assets or liabilities. (2) Included in the consolidated statement of profit or loss under the line Loss on financial instruments, net. 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: December 31, 2023 Carrying amount of Change in fair Changes in the OCI (2) Ineffectiveness (3) Amount or loss (4) Notional amount Asset (1) Liability (1) Interest rate and foreign exchange risk Borrowings and debt 1,303,388 107,821 (25,533) 65,005 65,286 281 (682) Foreign exchange risk Deposits — — — — — — 57 Borrowings and debt — — — — — — 142 Total 1,303,388 107,821 (25,533) 65,005 65,286 281 (483) December 31, 2022 Carrying amount of Change in fair Changes in the OCI (2) Ineffectiveness (3) Amount or loss (4) Notional amount Asset (1) Liability (1) Interest rate risk Borrowings and debt 75,000 143 (1) 550 551 1 — Interest rate and foreign exchange risk Borrowings and debt 922,777 41,677 (16,980) 28,211 27,061 (1,150) 4,914 Foreign exchange risk Deposits 8,534 37 — 37 37 — — Borrowing and Debt 180,639 21,833 — 21,833 21,833 — — Total 1,186,950 63,690 (16,981) 50,631 49,482 (1,149) 4,914 (1) Included in the consolidated statement of financial position under the line Derivative financial instruments - assets or liabilities. (2) Included in equity in the consolidated statement of financial position under the line Other comprehensive income (loss). (3) Hedge ineffectiveness attributable to matured hedges included in the consolidated statement of profit or loss in the line Loss on financial instruments, net. (4) Hedging reserve attributable to expired hedges reclassified to the consolidated statement of profit or loss in the line Loss on financial instruments, net.
Schedule of Gains and Losses Resulting from Activities of Hedging Derivative Financial Instruments	The following table details the 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: December 31, 2023 Carrying amount of Line in the consolidated Accumulated amount of Changes in fair value of the hedged items used to calculate hedge ineffectiveness (1) Asset Liability Interest rate risk Loans 10,664 — Loans, net (136) 120 Securities at amortized cost 10,055 — Securities, net 26 253 Deposits — (236,942) Deposits (588) (588) Borrowings and debt — (344,605) Borrowings and debt, net (1,626) (4,976) Interest rate and foreign exchange risk Borrowings and debt — (402,377) Borrowings and debt, net (21,737) (33,802) Total 20,719 (983,924) (24,061) (38,993) December 31, 2022 Carrying amount of Line in the consolidated Accumulated amount of Changes in fair value of the hedged items used to calculate hedge ineffectiveness (1) Asset Liability Interest rate risk Loans 157,136 — Loans, net (1,625) (1,625) Securities at amortized cost 9,654 — Securities, net (229) (229) Borrowings and debt — (129,306) Borrowings and debt, net 3,350 3,346 Interest rate and foreign exchange risk Loans 1,839 — Loans, net (580) 98 Borrowings and debt — (243,851) Borrowings and debt, net 11,612 (9,620) Total 168,629 (373,157) 12,528 (8,030) (1) Included in the consolidated statement of profit or loss under the line Loss on financial instruments, net.
Schedule of Maturity of Financial Instruments	The following table details the maturity of the notional amount for the derivative instruments used in fair value hedges: December 31, 2023 Interest rate Cross currency swaps Total Less than 1 year 434,420 235,973 670,393 Over 1 to 2 years 50,263 — 50,263 Over 2 to 5 years 476,311 128,556 604,867 More than 5 years 26,400 10,125 36,525 Total 987,394 374,654 1,362,048 December 31, 2022 Interest rate Cross currency swaps Total Less than 1 year 145,511 1,937 147,448 Over 1 to 2 years 20,000 153,415 173,415 Over 2 to 5 years 128,200 87,316 215,516 More than 5 years — 10,125 10,125 Total 293,711 252,793 546,504 The following table details the maturity of the derivative instruments used in cash flow hedges: December 31, 2023 Foreign Interest Cross currency swaps Total Less than 1 year — — 643,464 643,464 Over 1 to 2 years — — 206,496 206,496 Over 2 to 5 years — — 409,742 409,742 More than 5 years — — 43,686 43,686 Total — — 1,303,388 1,303,388 December 31, 2022 Foreign Interest Cross currency swaps Total Less than 1 year 189,173 75,000 388,035 652,208 Over 1 to 2 years — — 194,639 194,639 Over 2 to 5 years — — 322,817 322,817 More than 5 years — — 17,286 17,286 Total 189,173 75,000 922,777 1,186,950
Schedule of Ineffectiveness Recognized in Profit (Loss)	The following table details the ineffectiveness recognized in profit or loss for the derivative instruments used in fair value hedges: December 31, 2023 Current Overdue Total Ineffectiveness recognized in profit or loss Interest rate risk Loans 7 7 14 Securities at amortized cost 144 — 144 Deposits 12 — 12 Borrowings and debt 176 — 176 Interest rate and foreign exchange risk Loans — (26) (26) Borrowings and debt 2,908 — 2,908 Total 3,247 (19) 3,228 A. Fair value hedges (continued) December 31, 2022 Current Overdue Total Ineffectiveness recognized in profit or loss Interest rate risk Loans (18) — (18) Securities at amortized cost (62) — (62) Borrowings and debt (117) 6 (111) Interest rate and foreign exchange risk Loans (129) — (129) Borrowings and debt (2,775) 1,227 (1,548) Total (3,101) 1,233 (1,868) The following table details the ineffectiveness recognized in profit or loss for the derivative instruments used in cash flow hedges: December 31, 2023 Current Overdue Total Ineffectiveness recognized in profit or loss Interest rate and foreign exchange risk Borrowings and debt 281 (682) (401) Foreign exchange risk Deposits — 57 57 Borrowings and debt — 142 142 Total 281 (483) (202) December 31, 2022 Current Overdue Total Ineffectiveness recognized in profit or loss Interest rate risk Borrowings and debt 1 — 1 Interest rate hedges Borrowings and debt (473) (677) (1,150) Total (472) (677) (1,149)
Schedule of Nominal Amounts and Carrying Amounts of the Cash Flow Hedge	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: December 31, 2023 Carrying amount of Line in the Changes in the fair value ineffectiveness Cash flow Asset Liability Interest rate and foreign exchange risk Borrowings and debt — (1,398,323) Borrowings and debt, net (65,005) (7,458) Total — (1,398,323) (65,005) (7,458) December 31, 2022 Carrying amount of Line in the Changes in the fair value ineffectiveness Cash flow Asset Liability Interest rate risk Borrowings and debt — (75,695) Borrowings and debt, net (551) (97) Interest rate and foreign exchange risk Borrowings and debt — (943,942) Borrowings and debt, net (27,061) (8,836) Foreign exchange risk Deposits — (8,566) Demand deposits (37) (44) Borrowings and debt — (196,646) Borrowings and debt, net (21,833) 1,836 Total — (1,224,849) (49,482) (7,141)

Gain (loss) on non - financia_2

Gain (loss) on non - financial assets, net (Tables)	12 Months Ended
	Dec. 31, 2023
Gain (loss) on non - financial assets, net
Schedule of Impairment Losses on Non-Financial Assets	The gain or loss on non-financial assets is presented as follows: December 31, 2023 2022 2021 Gain on investment property - Right-of-use — — 742

Equipment and leasehold impro_2

Equipment and leasehold improvements (Tables)	12 Months Ended
	Dec. 31, 2023
Disclosure of detailed information about property, plant and equipment [abstract]
Summary of Items Include in Equipment and Leasehold Improvement	The following table provides a summary of the items included in equipment and leasehold improvements: December 31, 2023 2022 Equipment and leasehold improvements, net 4,041 4,441 Right-of-use assets 12,753 12,841 16,794 17,282
Schedule of Breakdown of Cost, Accumulated Depreciation, Additions and Disposals of Equipment and Leasehold Improvements	Equipment and leasehold improvements are detailed as follows: IT equipment Furniture and Leasehold Other Total Cost: Balance as of January 1, 2021 4,136 1,677 7,428 2,572 15,813 Additions 402 4 26 21 453 Disposals (58) (3) — (1,906) (1,967) Effect of changes in exchange rates (5) (1) (4) — (10) Reclassifications 1 — — — 1 Balance as of December 31, 2021 4,476 1,677 7,450 687 14,290 Additions 599 165 852 35 1,651 Disposals (1,136) (36) (4) (6) (1,182) Effect of changes in exchange rates 2 2 3 1 8 Balance as of December 31, 2022 3,941 1,808 8,301 717 14,767 Additions 369 92 124 176 761 Disposals (28) (83) (117) (49) (277) Effect of changes in exchange rates 5 3 5 — 13 Balance as of December 31, 2023 4,287 1,820 8,313 844 15,264 Accumulated depreciation: Balance as of January 1, 2021 3,340 1,601 3,830 2,052 10,823 Amortization 566 41 549 190 1,346 Disposals (57) (3) — (1,652) (1,712) Effect of changes in exchange rates (3) (2) (4) — (9) Reclassifications — 1 — — 1 Balance as of December 31, 2021 3,846 1,638 4,375 590 10,449 Amortization 430 32 531 57 1,050 Disposals (1,133) (35) (4) (4) (1,176) Effect of changes in exchange rates (1) 1 4 (1) 3 Balance as of December 31, 2022 3,142 1,636 4,906 642 10,326 Amortization 449 54 589 69 1,161 Disposals (25) (83) (117) (49) (274) Effect of changes in exchange rates 4 1 5 — 10 Balance as of December 31, 2023 3,570 1,608 5,383 662 11,223 Carrying amounts as of: December 31, 2023 717 212 2,930 182 4,041 December 31, 2022 799 172 3,395 75 4,441 December 31, 2021 630 39 3,075 97 3,841
Schedule of Movement of Right-of-Use Assets on the Leases	The following is the detail of the movement of right-of-use assets on the leases for which the Bank is a lessee: December 31, 2023 2022 Initial balance 12,841 13,938 Additions 1,388 7 Depreciation of right-of-use assets (1,119) (1,104) Decrease (357) — Ending balance 12,753 12,841

Intangible assets (Tables)

Intangible assets (Tables)	12 Months Ended
	Dec. 31, 2023
Disclosure of detailed information about intangible assets [abstract]
Schedule of Breakdown of Software Cost, Accumulated Amortization, Additions, Sales and Disposals for Intangible Assets	A breakdown of software cost, accumulated amortization, additions, sales and disposals of intangible assets is as follows: Costs: Balance as of January 1, 2021 15,711 Additions 353 Disposals (6,278) Balance as of December 31, 2021 9,786 Additions 1,070 Balance as of December 31, 2022 10,856 Additions 1,335 Disposals (150) Balance as of December 31, 2023 12,041 Accumulated amortization: Balance as of January 1, 2021 13,727 Amortization 742 Disposals (6,278) Balance as of December 31, 2021 8,191 Amortization 561 Balance as of December 31, 2022 8,752 Amortization 814 Disposals (130) Balance as of December 31, 2023 9,436 Carrying amounts as of: December 31, 2023 2,605 December 31, 2022 2,104 December 31, 2021 1,595

Other assets (Tables)

Other assets (Tables)	12 Months Ended
	Dec. 31, 2023
Other Assets1 [Abstract]
Schedule of Other Assets	Following is a summary of other assets: December 31, 2023 2022 Accounts receivable financial instruments 4,844 961 Prepaid expenses 2,174 1,120 Prepaid fees and commissions 451 325 Interest receivable - deposits 1,603 751 IT projects under development 1,802 425 Improvement project under development 396 — Severance fund 2,169 2,026 Other 2,156 1,760 Total 15,595 7,368

Deposits (Tables)

Deposits (Tables)	12 Months Ended
	Dec. 31, 2023
Deposits
Schedule of Maturity Profile of the Bank's Deposits, Excluding Interest Payable	The maturity profile of the Bank’s deposits, excluding interest payable, is as follows: Remaining Term Original Term December 31, December 31, 2023 2022 2023 2022 Demand 510,195 233,756 510,195 233,757 Up to 1 month 2,026,454 1,630,484 1,336,379 999,043 From 1 month to 3 months 704,765 887,232 758,728 969,960 From 3 month to 6 months 517,359 250,300 675,106 385,972 From 6 month to 1 year 570,033 153,862 892,221 554,402 From 1 year to 2 years 77,843 18,787 216,430 31,287 From 2 years to 5 years 1,500 16,295 19,090 16,295 Total 4,408,149 3,190,716 4,408,149 3,190,716
Schedule of Additional Information Regarding the Bank's Deposits	The following table presents additional information regarding the Bank’s deposits: December 31, 2023 2022 Aggregate amount of $100,000 or more 4,407,608 3,190,376 Aggregate amount of deposits in the New York Agency 1,250,524 526,474 December 31, 2023 2022 2021 Interest expense on deposits made in the New York Agency 53,885 12,334 3,852

Securities sold under repurch_2

Securities sold under repurchase agreements (Tables)	12 Months Ended
	Dec. 31, 2023
Securities sold under repurchase agreements
Summary of Financing Transactions	The following table details the financing transactions under repurchase agreements and the associated interest expense: December 31, 2023 2022 2021 Financing transactions under repurchase agreements 310,197 300,498 427,498 Interest expense related to financing transactions 9,232 7,340 956

Borrowings and debt (Tables)

Borrowings and debt (Tables)	12 Months Ended
	Dec. 31, 2023
Borrowings and debt
Schedule of Borrowings and Debt	Carrying amount of borrowings and debt is detailed as follows: December 31, 2023 Short-Term Long-term Borrowings Debt Borrowings Debt Total Principal 1,638,306 86,601 537,775 2,097,820 4,360,502 Transaction costs (262) (40) (1,904) (6,308) (8,514) 1,638,044 86,561 535,871 2,091,512 4,351,988 December 31, 2022 Short-Term Long-term Borrowings Debt Borrowings Debt Total Principal 2,153,351 42,255 650,275 1,580,727 4,426,608 Transaction costs (1,376) (5) (2,952) (5,764) (10,097) 2,151,975 42,250 647,323 1,574,963 4,416,511
Schedule of Breakdown of Short-Term (Original Maturity of Less than One Year) Borrowings and Debt, Along with Contractual Interest Rates	The breakdown of short-term (original maturity of less than one year) borrowings and debt, along with contractual interest rates, plus prepaid commissions, is as follows: December 31, 2023 2022 Short-term borrowings: At fixed interest rates 732,336 1,584,776 At floating interest rates 905,970 568,575 Principal 1,638,306 2,153,351 Less: Transaction costs (262) (1,376) Total short-term borrowings, net 1,638,044 2,151,975 Short-term debt: At fixed interest rates 1,536 — At floating interest rates 85,065 42,255 Principal 86,601 42,255 Less: Transaction costs (40) (5) Total short-term debt, net 86,561 42,250 Total short-term borrowings and debt 1,724,605 2,194,225 Range of fixed interest rates on borrowings and debt in U.S. dollars 5.44% to 6.50% 1.53% to 6.52% Range of floating interest rates on borrowings in U.S. dollars 6.08% to 6.33% 4.90% to 5.72% Range of floating interest rates on borrowings and debt in Mexican pesos 11.77% to 12.65% 10.97% to 12.00% Range of floating interest rates on borrowings and debt in Euros 4.51% to 4.69% — % Range of fixed interest rates on borrowings and debt in Japanese yen — % 0.84% to 1.23% The outstanding balances of short-term borrowings and debt by currency, excluding prepaid commissions, are as follows: December 31, 2023 2022 US dollar 1,084,872 1,593,531 Mexican peso 576,527 405,830 Euro 63,508 — Japanese yen — 196,245 Carrying amount - principal 1,724,907 2,195,606
Schedule of Breakdown of Borrowings and Long-Term Debt (Original Maturity of More than One Year), Along with Contractual Interest Rates, plus Prepaid Commissions	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: December 31, 2023 2022 Long-term borrowings: At fixed interest rates — 75,000 At floating interest rates with due dates from May 2024 to May 2026 537,775 575,275 Principal 537,775 650,275 Less: Transaction costs (1,904) (2,952) Total long-term borrowings, net 535,871 647,323 Long-term debt: At fixed interest rates with due dates from March 2024 to November 2034 1,456,290 1,136,743 At floating interest rates with due dates from November 2024 to August 2028 641,530 443,984 Principal 2,097,820 1,580,727 Less: Transaction costs (6,308) (5,764) Total long-term debt, net 2,091,512 1,574,963 Total long-term borrowings and debt, net 2,627,383 2,222,286 Range of fixed interest rates on borrowings and debt in U.S. dollars 1.35% to 6.15% 0.80% to 5.81% Range of floating interest rates on borrowings and debt in U.S. dollars 6.32% to 7.31% 4.96% to 6.04% Range of fixed interest rates on borrowings and debt in Mexican pesos 6.50% to 10.78% 6.50% to 9.20% Range of floating interest rates on borrowings and debt in Mexican pesos 11.70% to 11.95% 10.55% to 10.93% Range of fixed interest rates on debt in Japanese yens 0.40% to 1.35% 0.40% to 1.27% Range of fixed interest rates on debt in Euros 0.90% to 3.75% 0.23% to 3.75% Range of fixed interest rates on debt in Australian dollars 1.41% to 6.81% 1.41% to 6.81% Range of fixed interest rates on debt in Sterling pounds 1.50 % 1.50 % Range of fixed interest rates on debt in Swiss francs 0.35 % 0.35 % Long-term borrowings and debt (continued) The outstanding balances of long-term borrowings and debt by currency, excluding prepaid commissions, are as follows: December 31, 2023 2022 US dollar 1,149,021 1,155,275 Mexican peso 1,241,023 845,867 Euro 88,018 111,095 Japanese yen 113,642 76,513 Australian dollar 27,286 26,968 Swiss franc 11,889 10,820 Sterling pound 4,716 4,464 Carrying amount - principal 2,635,595 2,231,002
Schedule of Future Payments of Long-Term Borrowings and Debt Outstanding	Future payments of long-term borrowings and debt outstanding as of December 31, 2023, are as follows: Year Outstanding 2024 637,998 2025 1,005,496 2026 516,223 2027 311,123 2028 112,345 2029 42,162 2034 10,248 Carrying amount - principal 2,635,595
Schedule of Reconciliation of Movements of Borrowings and Debt Arising Financing Activities Explanatory	The following table presents the reconciliation of movements of borrowings and debt arising from financing activities, as presented in the consolidated statement of cash flows : 2023 2022 2021 Balance as of January 1, 4,416,511 3,304,178 1,966,271 Net (decrease) increase in short-term borrowings and debt (500,650) 579,065 1,196,710 Proceeds from long-term borrowings and debt 496,342 1,038,110 266,640 Payments of long-term borrowings and debt (221,306) (536,792) (97,520) Change in foreign currency rates 157,440 45,460 (27,528) Fair value adjustment due to hedge accounting relationship 2,126 (9,334) (2,034) Other adjustments 1,525 (4,176) 1,639 Balance as of December 31, 4,351,988 4,416,511 3,304,178

Lease liabilities (Tables)

Lease liabilities (Tables)	12 Months Ended
	Dec. 31, 2023
Subclassifications of assets, liabilities and equities [abstract]
Maturity of Lease Liabilities	Maturity analysis of contractual undiscounted cash flows of the lease liabilities is detailed below: December 31, 2023 2022 Due within 1 year 1,717 1,506 After 1 year but within 5 years 6,540 7,210 After 5 years but within 10 years 12,368 12,330 Total undiscounted lease liabilities 20,625 21,046 Short-term 1,143 965 Long-term 15,564 15,780 Lease liabilities included in the consolidated statement of financial position 16,707 16,745 Amounts recognized in the consolidated statement of cash flows: December 31, 2023 2022 Payments of lease liabilities 1,032 995

Other liabilities (Tables)

Other liabilities (Tables)	12 Months Ended
	Dec. 31, 2023
Other Liabilities1 [Abstract]
Schedule of Other Liabilities	Following is a summary of other liabilities: December 31, 2023 2022 Accruals and other accumulated expenses 24,120 16,812 Funds received for debt repayment 14,735 — Accounts payable 5,143 7,269 Unearned commissions 9,652 2,646 Other 84 84 Total 53,734 26,811

Earnings per share (Tables)

Earnings per share (Tables)	12 Months Ended
	Dec. 31, 2023
Earnings per share
Schedule of Reconciliation Profit and Share Data Used in the Basic and Diluted Earnings per Share ("EPS") Computations	The following table presents a reconciliation of profit and share data used in the basic earnings per share (“EPS”) computations for the dates indicated: December 31, 2023 2022 2021 (Thousands of US$ dollars) Profit for the year 166,158 92,040 62,697 (U.S. dollars) Basic earnings per share 4.55 2.54 1.62 (Thousands of shares) Weighted average of common shares outstanding applicable to basic EPS 36,481 36,304 38,796

Capital and Reserves (Tables)

Capital and Reserves (Tables)	12 Months Ended
	Dec. 31, 2023
Capital and Reserves
Schedule of Movement of the Shares by Class for Each of the Years Ended	The following table provides detailed information on the movement of the shares by class for each of the years ended December 31, 2023, 2022 and 2021: (Share units) “Class A” “Class B” “Class E” “Class F” Total Authorized 40,000,000 40,000,000 100,000,000 100,000,000 280,000,000 Outstanding at January 1, 2021 6,342,189 2,178,365 31,157,386 — 39,677,940 Conversions — (89,290) 89,290 — — Repurchased common stock — — (3,558,093) — (3,558,093) Restricted stock issued – directors — — 63,000 — 63,000 Restricted stock units – vested — — 48,299 — 48,299 Outstanding at December 31, 2021 6,342,189 2,089,075 27,799,882 — 36,231,146 Restricted stock issued – directors — — 57,000 — 57,000 Restricted stock units – vested — — 36,410 — 36,410 Outstanding at December 31, 2022 6,342,189 2,089,075 27,893,292 — 36,324,556 Restricted stock issued – directors — — 63,000 — 63,000 Restricted stock units – vested — — 152,305 — 152,305 Outstanding at December 31, 2023 6,342,189 2,089,075 28,108,597 — 36,539,861
Schedule of Information Regarding Shares Repurchased but not Retired by the Bank and Accordingly Classified as Treasury Stock	The following table presents information regarding shares repurchased but not retired by the Bank and accordingly classified as treasury stock: “Class A” “Class B” “Class E” Total Shares Amount Shares Amount Shares Amount Shares Amount Outstanding at January 1, 2021 318,140 10,708 689,367 18,711 1,294,390 28,580 2,301,897 57,999 Repurchase of common stock — — — — 3,558,093 60,079 3,558,093 60,079 Restricted stock issued - directors — — — — (63,000) (1,391) (63,000) (1,391) Restricted stock units - vested — — — — (48,299) (888) (48,299) (888) Outstanding at December 31, 2021 318,140 10,708 689,367 18,711 4,741,184 86,380 5,748,691 115,799 Restricted stock issued - directors — — — — (57,000) (1,039) (57,000) (1,039) Restricted stock units - vested — — — — (36,410) (663) (36,410) (663) Outstanding at December 31, 2022 318,140 10,708 689,367 18,711 4,647,774 84,678 5,655,281 114,097 Restricted stock issued - directors — — — — (63,000) (1,148) (63,000) (1,148) Restricted stock units - vested — — — — (152,305) (2,775) (152,305) (2,775) Outstanding at December 31, 2023 318,140 10,708 689,367 18,711 4,432,469 80,755 5,439,976 110,174

Other comprehensive income (Tab

Other comprehensive income (Tables)	12 Months Ended
	Dec. 31, 2023
Other comprehensive income [abstract]
Schedule of Breakdown of Other Comprehensive Income (Loss) Relating to Financial Instruments at FVOCI, Derivative Financial Instruments, and Foreign Currency Translation	The breakdown of other comprehensive income (loss) relating to financial instruments at FVOCI, derivative financial instruments, and foreign currency translation is as follows: Financial instruments FVOCI Financial Foreign Total Balance as of January 1, 2021 141 515 (448) 208 Change in fair value on financial instruments, net of hedging (560) (11,692) — (12,252) Reclassification of gains (losses) on financial instruments to profit or loss (1) 24 24 — 48 Exchange difference in conversion of foreign currency operation — — 448 448 Other comprehensive income (loss) for the year (536) (11,668) 448 (11,756) Balance as of December 31, 2021 (395) (11,153) — (11,548) Change in fair value on financial instruments, net of hedging (467) 20,080 — 19,613 Reclassification of gains (losses) on financial instruments to profit or loss (1) — 60 — 60 Other comprehensive income (loss) for the year (467) 20,140 — 19,673 Balance as of December 31, 2022 (862) 8,987 — 8,125 Change in fair value on financial instruments, net of hedging 876 (590) — 286 Reclassification of gains (losses) on financial instruments to profit or loss (1) (11) (938) — (949) Other comprehensive income (loss) for the year 865 (1,528) — (663) Balance as of December 31, 2023 3 7,459 — 7,462 (1) Reclassification adjustments include amounts recognized in profit or loss of the year that had been part of other comprehensive income in this and prior years.
Schedule of Amounts Reclassified from Other Comprehensive Income to Profit or Loss	The following table presents amounts reclassified from other comprehensive income to profit or loss: Details about other comprehensive income components Amounts reclassified from other Line item affected in the December 31, 2023 2022 2021 Securities at FVOCI: — — 41 Net gain (loss) on financial instruments (11) — (17) Provision for credit losses (11) — 24 Derivative financial instruments: Foreign exchange forwards — (433) (2,167) Interest income – loans 4,877 1,851 — Interest expense – borrowings and deposits (1,793) — 24 Gain (loss) on financial instruments, net Interest rate and cross-currency swaps 855 60 — Gain (loss) on financial instruments, net 3,939 1,478 (2,143)

Fee and commission income (Tabl

Fee and commission income (Tables)	12 Months Ended
	Dec. 31, 2023
Fee and commission income [abstract]
Schedule of fees and commission income from contracts with customers broken down by main types of services according to the scope of IFRS 15	Fee and commission income from contracts with customers broken down by main types of services, are detailed as follows: December 31, 2023 2022 2021 Structured loans 7,427 4,926 4,269 Documentary and stand-by letters of credit 20,844 14,033 12,119 Other commissions, net 4,248 832 1,910 Total 32,519 19,791 18,298
Schedule of ordinary income that is expected to be recognized on the contracts in force	The following table provides information on the ordinary income that is expected to be recognized on the existing contracts: December 31, Up to 1 year 4,553 From 1 to 2 years 1,370 More than 2 years 2,361 Total 8,284

Business segment information (T

Business segment information (Tables)	12 Months Ended
	Dec. 31, 2023
Business segment information
Schedule of certain information regarding the bank's operations by segment	The following table provides certain information regarding the Bank’s operations by segment: December 31, 2023 Commercial Treasury Total Interest income 566,212 113,048 679,260 Interest expense (467) (445,610) (446,077) Inter-segment net interest income (361,997) 361,997 — Net interest income 203,748 29,435 233,183 Other income (expense), net 33,792 (856) 32,936 Total income 237,540 28,579 266,119 Provision for credit losses (26,785) (678) (27,463) Operating expenses (57,324) (15,174) (72,498) Segment profit (loss) 153,431 12,727 166,158 Segment assets 7,498,230 3,231,534 10,729,764 Segment liabilities 279,853 9,206,381 9,486,234 December 31, 2022 Commercial Treasury Total Interest income 289,785 42,836 332,621 Interest expense (463) (184,147) (184,610) Inter-segment net interest income (155,968) 155,968 — Net interest income 133,354 14,657 148,011 Other income (expense), net 20,809 (2,148) 18,661 Total income 154,163 12,509 166,672 Provision for credit losses (13,376) (6,145) (19,521) Operating expenses (43,156) (11,955) (55,111) Segment profit (loss) 97,631 (5,591) 92,040 Segment assets 6,940,335 2,336,958 9,277,293 Segment liabilities 180,369 8,007,383 8,187,752 December 31, 2021 Commercial Treasury Total Interest income 129,758 11,125 140,883 Interest expense (648) (53,453) (54,101) Inter-segment net interest income (45,318) 45,318 — Net interest income 83,792 2,990 86,782 Other income (expense), net 19,188 (1,764) 17,424 Total income 102,980 1,226 104,206 (Provision for) reversal of credit losses (1,050) (1,278) (2,328) Gain on non-financial assets, net 742 — 742 Operating expenses (30,751) (9,172) (39,923) Segment profit (loss) 71,921 (9,224) 62,697 Segment assets 5,931,201 2,098,492 8,029,693 Segment liabilities 219,505 6,812,455 7,031,960
Schedule of reconciliation of information on reportable segments	The following table shows the reconciliation of information by business segment: December 31, 2023 2022 2021 Profit for the year 166,158 92,040 62,697 Assets: Assets from reportable segments 10,729,764 9,277,293 8,029,693 Other assets - unallocated 14,028 6,617 8,418 Total 10,743,792 9,283,910 8,038,111 Liabilities: Liabilities from reportable segments 9,486,234 8,187,752 7,031,960 Other liabilities - unallocated 53,734 26,811 14,361 Total 9,539,968 8,214,563 7,046,321
Schedule of geographic information analyses the bank's revenue and non-current assets by the bank's country	The geographic information analyzes the Bank’s income and non-current assets by the Bank’s. In presenting the geographic information below, segment revenue is based on customer’s country risk and segment non-current assets are based on the geographic location of the assets. December 31, 2023 2022 2021 Total revenues Non-current assets (*) Total revenues Non-current assets (*) Total revenues Non-current assets (*) Argentina 4,748 80 4,721 117 5,454 157 Brazil 25,630 292 15,100 125 9,802 138 Chile 11,273 — 8,072 — 3,180 — Colombia 32,584 181 16,192 35 12,116 51 Costa Rica 10,358 — 9,161 — 7,674 — Dominican Republic 20,164 — 9,325 — 3,424 — Ecuador 15,107 — 12,576 — 8,990 — El Salvador 2,209 — 2,297 — 1,207 — Guatemala 24,061 — 16,961 — 10,862 — Honduras 6,312 — 6,081 — 841 — Jamaica 3,337 — 2,525 — 1,646 — Mexico 35,442 400 24,767 14 17,318 75 Panama 6,753 18,119 6,015 18,994 5,872 18,795 Paraguay 2,734 — 2,488 — 1,529 — Peru 20,501 — 8,733 — 3,299 — Trinidad and Tobago 6,832 — 6,330 — 7,215 — Uruguay 1,208 — 1,533 — 540 — Other countries (1) 36,866 327 13,795 101 3,237 158 Total revenues 266,119 19,399 166,672 19,386 104,206 $ 19,374 (1) Other countries consists of total income per country in the Region in which total income did not exceed $1 million for any of the periods indicated above and top-rated countries outside of Latin America. (*) Includes equipment and leasehold improvements,net, intangible assets and investment properties.

Related party transactions (Tab

Related party transactions (Tables)	12 Months Ended
	Dec. 31, 2023
Related party transactions
Schedule of assets and liabilities with related private corporations and financial institutions	The detail of the assets and liabilities with related private corporations and financial institutions is as follows: December 31, 2023 2022 Assets: Demand deposits 2,263 5,986 Loans, net 61,440 242,024 Securities at amortized cost, net 14,373 19,593 Total 78,076 267,603 Liabilities: Time deposits 319,344 567,451 Total 319,344 567,451 Contingencies: Stand-by letters of credit 150 3,350 Loss allowance — (16)
Schedule of income and expenses with related parties	The detail of income and expenses with related parties is as follows: December 31, 2023 2022 2021 Interest income: Loans 3,104 4,719 211 Securities at amortized cost 331 685 — Total 3,435 5,404 211 Interest expense: Deposits (14,477) (10,943) (1,866) Net interest income (expenses) (11,042) (5,539) (1,655) Other income (expense): Fees and commissions, net 427 116 216 Loss on financial instruments, net — 74 — Total 427 190 216 Net income (loss) from related parties (10,615) (5,349) (1,439)
Schedule of reporting periods, total compensation paid to directors and the executives of bladex	The total compensation paid to directors and the executives as representatives of the Bank amounted to: December 31, 2023 2022 2021 Expenses: Compensation costs to directors 1,910 1,853 1,877 Compensation costs to executives 8,067 4,302 4,083

Salaries and other employee e_2

Salaries and other employee expenses (Tables)	12 Months Ended
	Dec. 31, 2023
Salaries and other employee expenses
Schedule of salaries and other employee expenses	The following table details salaries and other employee expenses: December 31, 2023 2022 2021 Wages and salaries 20,837 18,135 13,803 Payroll taxes 2,809 2,196 1,731 Personnel benefits 19,047 12,344 5,134 Share-based payments 4,539 1,544 984 Total 47,232 34,219 21,652
Schedule of restricted stock granted to directors	A summary of restricted stock granted to directors is presented below: Shares Weighted average Outstanding at January 1, 2021 132,150 18.56 Granted 63,000 14.65 Vested (49,350) 19.24 Outstanding at December 31, 2021 145,800 16.64 Granted 57,000 14.65 Vested (97,350) 18.71 Outstanding at December 31, 2022 105,450 14.15 Granted 63,000 17.69 Vested (53,100) 13.75 Outstanding at December 31, 2023 115,350 16.31 Expected to vest 115,350
Schedule of restricted stock units granted to certain executives	A summary of the restricted stock units granted through December 31, 2023, to certain executives is presented below: Shares Weighted Weighted Aggregate Outstanding at January 1, 2021 81,343 17.94 Granted 75,796 13.33 Forfeited (1,311) 14.51 Vested (48,299) 17.35 Outstanding at December 31, 2021 107,529 14.99 Granted 63,056 13.03 Vested (36,410) 15.97 Outstanding at December 31, 2022 134,175 13.80 Granted 298,951 15.36 Forfeited (346) 14.95 Vested (152,305) 15.57 Outstanding at December 31, 2023 280,475 14.50 1.99 years $2,769 Expected to vest 280,475 14.50 1.99 years $2,769

Other expenses (Tables)

Other expenses (Tables)	12 Months Ended
	Dec. 31, 2023
Other expenses
Schedule Of Expenses	The following table details other expenses: December 31, 2023 2022 2021 Administrative 6,165 5,587 4,484 Professional services 5,522 5,603 4,074 Maintenance and repairs 4,731 3,449 2,388 Share-based payments to directors 931 895 924 Regulatory fees 1,321 1,015 978 Operating lease of spaces and equipment 691 717 562 Advertising and marketing 1,012 557 179 Other 1,799 354 1,191 Total 22,172 18,177 14,780

Applicable laws and regulatio_2

Applicable laws and regulations (Tables)	12 Months Ended
	Dec. 31, 2023
Applicable laws and regulations
Schedule of applicable laws and regulations	The information corresponding to the total capital adequacy index is as follows: December 31, 2023 2022 Capital funds 1,206,753 1,072,110 Risk-weighted assets 8,898,408 8,117,913 Capital adequacy index 13.6 % 13.2 %
Schedule of 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: December 31, 2023 2022 Ordinary capital 1,070,734 936,092 Non-risk-weighted assets 10,994,085 9,606,970 Leverage ratio 9.7 % 9.7 %
Schedule of based on the classification of risks, collateral and in compliance with SBP Rule No. 4 2013	Based on the classification of risks, collateral and in compliance with SBP Rule No. 4-2013, the Bank classified the loan portfolio as follows: December 31, 2023 Normal Special Mention Substandard Doubtful Unrecoverable Total Loans at amortized cost Corporations 4,354,378 32,342 — — 10,107 4,396,827 Financial institutions: Private 2,248,150 — — — — 2,248,150 State-owned 464,918 — — — — 464,918 2,713,068 — — — — 2,713,068 Sovereign 85,672 — — — — 85,672 Total 7,153,118 32,342 — — 10,107 7,195,567 Specific provision — 6,470 — — 5,652 12,122 Allowance for loan losses under IFRS (1) : 45,958 6,554 — — 6,898 59,410 December 31, 2022 Normal Special Mention Substandard Doubtful Unrecoverable Total Loans at amortized cost Corporations 3,659,018 — — — 10,107 3,669,125 Financial institutions: Private 2,225,385 — 20,000 — — 2,245,385 State-owned 719,882 — — — — 719,882 2,945,267 — 20,000 — — 2,965,267 Sovereign 128,628 — — — — 128,628 Total 6,732,913 — 20,000 — 10,107 6,763,020 Specific provision — — 10,000 — 5,870 15,870 Allowance for loan losses IFRS (1) : 33,639 — 16,141 — 5,420 55,200 (1) As of December 31, 2023, and 2022, there is no excess in the specific provision calculated in accordance with Rule No. 8-2014 of the SBP, over the provision calculated in accordance with IFRS. Below is the classification of the loan portfolio by maturity profile based on Rule No. 4-2013 and modified by Rule No. 8-2014: December 31, 2023 Current Past due Delinquent Total Loans at amortized cost Corporations 4,386,720 — 10,107 4,396,827 Financial institutions: Private 2,248,150 — — 2,248,150 State-owned 464,918 — — 464,918 2,713,068 — — 2,713,068 Sovereign 85,672 — — 85,672 Total 7,185,460 — 10,107 7,195,567 December 31, 2022 Current Past due Delinquent Total Loans at amortized cost Corporations 3,659,018 — 10,107 3,669,125 Financial institutions: Private 2,225,385 20,000 — 2,245,385 State-owned 719,882 — — 719,882 2,945,267 20,000 — 2,965,267 Sovereign 128,628 — — 128,628 Total 6,732,913 20,000 10,107 6,763,020
Schedule of statutory purposes only, non-accruing loans	In accordance with Rule No. 4-2013, as amended by Rule No. 8-2014, non-accruing loans are presented by category as follows: December 31, 2023 Normal Special Mention Substandard Doubtful Unrecoverable Total Loans at amortized cost Impaired loans — — — — 10,107 10,107 Total — — — — 10,107 10,107 December 31, 2022 Normal Special Mention Substandard Doubtful Unrecoverable Total Loans at amortized cost Impaired loans — — 20,000 — 10,107 30,107 Total — — 20,000 — 10,107 30,107 December 31, 2023 2022 Non-accruing loans: Private corporations 10,107 30,107 Interest that would be reversed if the loans had been classified as non-accruing loans 328 1,173

Corporate information (Details)

Corporate information (Details)	12 Months Ended
	Dec. 31, 2023
Bladex Representacao Ltda. | Bladex Head Office
Disclosure of notes and other explanatory information [Line Items]
Proportion of ownership interest in subsidiary	99.999%
Bladex Representacao Ltda. | Bladex Holdings Inc.
Disclosure of notes and other explanatory information [Line Items]
Proportion of ownership interest in subsidiary	0.001%
Bladex Development Corp. | Bladex Head Office
Disclosure of notes and other explanatory information [Line Items]
Proportion of ownership interest in subsidiary	100%
BLX Soluciones | Bladex Head Office
Disclosure of notes and other explanatory information [Line Items]
Proportion of ownership interest in subsidiary	99.90%
BLX Soluciones | Bladex Development Corp.
Disclosure of notes and other explanatory information [Line Items]
Proportion of ownership interest in subsidiary	0.10%

Material accounting policies -

Material accounting policies - Narrative (Details)	Dec. 31, 2023 segment
Significant accounting policies
Discount rate for present value of the cash flows	10%
Number of business segments (in segments)	2

Material accounting policies _2

Material accounting policies - Internal credit risk grades (Details) - Current	Dec. 31, 2023
Aaa – Ba1 | 1 - 4
Disclosure Of Significant Accounting Policies [Line Items]
Percentage of credit loss rate	0.09%
Ba2 – B3 | 5 - 6
Disclosure Of Significant Accounting Policies [Line Items]
Percentage of credit loss rate	2.28%
Caa1 - Caa3 | 7
Disclosure Of Significant Accounting Policies [Line Items]
Percentage of credit loss rate	7.81%
Ca | 8 - 9
Disclosure Of Significant Accounting Policies [Line Items]
Percentage of credit loss rate	34.52%
C | 10
Disclosure Of Significant Accounting Policies [Line Items]
Percentage of credit loss rate	100%

Material accounting policies _3

Material accounting policies - Estimated useful lives (Details)	12 Months Ended
	Dec. 31, 2023
Furniture and equipment | Minimun of the year
Disclosure Of Significant Accounting Policies [Line Items]
Useful lives or depreciation rates, property, plant and equipment	3 years
Furniture and equipment | Maximum of the year
Disclosure Of Significant Accounting Policies [Line Items]
Useful lives or depreciation rates, property, plant and equipment	5 years
Hardware
Disclosure Of Significant Accounting Policies [Line Items]
Useful lives or depreciation rates, property, plant and equipment	3 years
Other equipment | Minimun of the year
Disclosure Of Significant Accounting Policies [Line Items]
Useful lives or depreciation rates, property, plant and equipment	2 years
Other equipment | Maximum of the year
Disclosure Of Significant Accounting Policies [Line Items]
Useful lives or depreciation rates, property, plant and equipment	4 years
Leasehold improvements | Minimun of the year
Disclosure Of Significant Accounting Policies [Line Items]
Useful lives or depreciation rates, property, plant and equipment	3 years
Leasehold improvements | Maximum of the year
Disclosure Of Significant Accounting Policies [Line Items]
Useful lives or depreciation rates, property, plant and equipment	15 years

Financial risk review - Schedul

Financial risk review - Schedule of Credit Risk Exposure (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
At amortized cost
Credit risk
Financial assets	$ 999,544	$ 941,971
Securities at amortized cost
Credit risk
Financial assets	11,824	77,972
Carrying amount - principal | At amortized cost
Credit risk
Financial assets	999,544	941,971
Carrying amount - principal | Securities at amortized cost
Credit risk
Financial assets	11,824	77,972
Loss allowance | At amortized cost
Credit risk
Financial assets	1,632	7,951	$ 1,790
Loss allowance | Securities at amortized cost
Credit risk
Financial assets	1	10	26
Current | Loss allowance | At amortized cost
Credit risk
Financial assets	1,230	2,170	1,790
Current | Loss allowance | Securities at amortized cost
Credit risk
Financial assets	1	10	26
Total | Expected credit losses individually assessed | Loss allowance | At amortized cost
Credit risk
Financial assets	402	1,779	0
Total | Expected credit losses individually assessed | Loss allowance | Securities at amortized cost
Credit risk
Financial assets	0	0	0
Loans at amortized cost
Credit risk
Financial assets	7,195,567	6,763,020
Loans at amortized cost | Carrying amount - principal
Credit risk
Financial assets	7,195,567	6,763,020
Loans at amortized cost | Loss allowance
Credit risk
Financial assets	59,410	55,200	41,476
Loans at amortized cost | Current | Loss allowance
Credit risk
Financial assets	34,778	28,589	20,115
Loans at amortized cost | Total | Expected credit losses individually assessed | Loss allowance
Credit risk
Financial assets	17,734	5,050	16,175
Loan commitments and financial guarantee contracts
Credit risk
Financial assets	1,325,134	942,719
Loan commitments and financial guarantee contracts | Carrying amount - principal
Credit risk
Financial assets	261,428	163,345
Loan commitments and financial guarantee contracts | Loss allowance
Credit risk
Financial assets	5,059	3,628	3,803
Loan commitments and financial guarantee contracts | Current | Loss allowance
Credit risk
Financial assets	3,905	3,605	3,472
Loan commitments and financial guarantee contracts | Total | Expected credit losses individually assessed | Loss allowance
Credit risk
Financial assets	1,154	23	$ 331
Credit risk | At amortized cost
Credit risk
Financial assets	997,912	934,020
Credit risk | Securities at amortized cost
Credit risk
Financial assets	11,823	77,962
Credit risk | Carrying amount - principal | At amortized cost
Credit risk
Financial assets	999,544	941,971
Credit risk | Carrying amount - principal | Securities at amortized cost
Credit risk
Financial assets	11,824	77,972
Credit risk | Loss allowance | At amortized cost
Credit risk
Financial assets	(1,632)	(7,951)
Credit risk | Loss allowance | Securities at amortized cost
Credit risk
Financial assets	(1)	(10)
Credit risk | Grades 1 - 4 | 0.03 - 0.74 | At amortized cost
Credit risk
Financial assets	$ 913,524	$ 736,139
Credit risk | Grades 1 - 4 | 0.03 - 0.74 | Minimun of the year | At amortized cost
Credit risk
Probability of Default	0.03%	0.03%
Credit risk | Grades 1 - 4 | 0.03 - 0.74 | Maximum of the year | At amortized cost
Credit risk
Probability of Default	0.74%	0.74%
Credit risk | Grades 1 - 4 | 0.03 - 0.74 | Carrying amount - principal | Securities at amortized cost
Credit risk
Financial assets	$ 11,824	$ 77,972
Credit risk | Grades 1 - 4 | 0.03 - 0.74 | Carrying amount - principal | Minimun of the year | Securities at amortized cost
Credit risk
Probability of Default	0.03%	0.03%
Credit risk | Grades 1 - 4 | 0.03 - 0.74 | Carrying amount - principal | Maximum of the year | Securities at amortized cost
Credit risk
Probability of Default	0.74%	0.74%
Credit risk | Grades 5 - 6 | 0.75 - 3.80 | At amortized cost
Credit risk
Financial assets	$ 86,020	$ 200,837
Credit risk | Grades 5 - 6 | 0.75 - 3.80 | Minimun of the year | At amortized cost
Credit risk
Probability of Default	0.75%	0.75%
Credit risk | Grades 5 - 6 | 0.75 - 3.80 | Maximum of the year | At amortized cost
Credit risk
Probability of Default	3.80%	3.80%
Credit risk | Grades 7 - 8 | 3.81 - 34.51 | At amortized cost
Credit risk
Financial assets		$ 4,995
Credit risk | Grades 7 - 8 | 3.81 - 34.51 | Minimun of the year | At amortized cost
Credit risk
Probability of Default		3.81%
Credit risk | Grades 7 - 8 | 3.81 - 34.51 | Maximum of the year | At amortized cost
Credit risk
Probability of Default		34.51%
Credit risk | Expected credit losses individually assessed | At amortized cost
Credit risk
Financial assets	$ 0	$ 993
Credit risk | Expected credit losses individually assessed | Securities at amortized cost
Credit risk
Financial assets	0	0
Credit risk | Expected credit losses individually assessed | Carrying amount - principal | At amortized cost
Credit risk
Financial assets	0	4,995
Credit risk | Expected credit losses individually assessed | Carrying amount - principal | Securities at amortized cost
Credit risk
Financial assets	0	0
Credit risk | Expected credit losses individually assessed | Loss allowance | At amortized cost
Credit risk
Financial assets	0	(4,002)
Credit risk | Expected credit losses individually assessed | Loss allowance | Securities at amortized cost
Credit risk
Financial assets	0	0
Credit risk | Expected credit losses individually assessed | Grades 1 - 4 | 0.03 - 0.74 | At amortized cost
Credit risk
Financial assets	0	0
Credit risk | Expected credit losses individually assessed | Grades 1 - 4 | 0.03 - 0.74 | Carrying amount - principal | Securities at amortized cost
Credit risk
Financial assets	0	0
Credit risk | Expected credit losses individually assessed | Grades 5 - 6 | 0.75 - 3.80 | At amortized cost
Credit risk
Financial assets	0	0
Credit risk | Expected credit losses individually assessed | Grades 7 - 8 | 3.81 - 34.51 | At amortized cost
Credit risk
Financial assets		4,995
Credit risk | Current | At amortized cost
Credit risk
Financial assets	969,968	888,217
Credit risk | Current | Securities at amortized cost
Credit risk
Financial assets	11,823	77,962
Credit risk | Current | Carrying amount - principal | At amortized cost
Credit risk
Financial assets	971,198	890,387
Credit risk | Current | Carrying amount - principal | Securities at amortized cost
Credit risk
Financial assets	11,824	77,972
Credit risk | Current | Loss allowance | At amortized cost
Credit risk
Financial assets	(1,230)	(2,170)
Credit risk | Current | Loss allowance | Securities at amortized cost
Credit risk
Financial assets	(1)	(10)
Credit risk | Current | Grades 1 - 4 | 0.03 - 0.74 | At amortized cost
Credit risk
Financial assets	913,524	736,139
Credit risk | Current | Grades 1 - 4 | 0.03 - 0.74 | Carrying amount - principal | Securities at amortized cost
Credit risk
Financial assets	11,824	77,972
Credit risk | Current | Grades 5 - 6 | 0.75 - 3.80 | At amortized cost
Credit risk
Financial assets	57,674	154,248
Credit risk | Current | Grades 7 - 8 | 3.81 - 34.51 | At amortized cost
Credit risk
Financial assets		0
Credit risk | Total | Expected credit losses individually assessed | At amortized cost
Credit risk
Financial assets	27,944	44,810
Credit risk | Total | Expected credit losses individually assessed | Securities at amortized cost
Credit risk
Financial assets	0	0
Credit risk | Total | Expected credit losses individually assessed | Carrying amount - principal | At amortized cost
Credit risk
Financial assets	28,346	46,589
Credit risk | Total | Expected credit losses individually assessed | Carrying amount - principal | Securities at amortized cost
Credit risk
Financial assets	0	0
Credit risk | Total | Expected credit losses individually assessed | Loss allowance | At amortized cost
Credit risk
Financial assets	(402)	(1,779)
Credit risk | Total | Expected credit losses individually assessed | Loss allowance | Securities at amortized cost
Credit risk
Financial assets	0	0
Credit risk | Total | Expected credit losses individually assessed | Grades 1 - 4 | 0.03 - 0.74 | At amortized cost
Credit risk
Financial assets	0	0
Credit risk | Total | Expected credit losses individually assessed | Grades 1 - 4 | 0.03 - 0.74 | Carrying amount - principal | Securities at amortized cost
Credit risk
Financial assets	0	0
Credit risk | Total | Expected credit losses individually assessed | Grades 5 - 6 | 0.75 - 3.80 | At amortized cost
Credit risk
Financial assets	28,346	46,589
Credit risk | Total | Expected credit losses individually assessed | Grades 7 - 8 | 3.81 - 34.51 | At amortized cost
Credit risk
Financial assets		0
Credit risk | Loans at amortized cost
Credit risk
Financial assets	7,136,157	6,707,820
Credit risk | Loans at amortized cost | Carrying amount - principal
Credit risk
Financial assets	7,195,567	6,763,020
Credit risk | Loans at amortized cost | Loss allowance
Credit risk
Financial assets	(59,410)	(55,200)
Credit risk | Loans at amortized cost | Grades 1 - 4 | 0.03 - 0.74 | Carrying amount - principal
Credit risk
Financial assets	$ 2,893,562	$ 2,864,686
Credit risk | Loans at amortized cost | Grades 1 - 4 | 0.03 - 0.74 | Carrying amount - principal | Minimun of the year
Credit risk
Probability of Default	0.03%	0.03%
Credit risk | Loans at amortized cost | Grades 1 - 4 | 0.03 - 0.74 | Carrying amount - principal | Maximum of the year
Credit risk
Probability of Default	0.74%	0.74%
Credit risk | Loans at amortized cost | Grades 5 - 6 | 0.75 - 3.80 | Carrying amount - principal
Credit risk
Financial assets	$ 3,918,847	$ 3,696,526
Credit risk | Loans at amortized cost | Grades 5 - 6 | 0.75 - 3.80 | Carrying amount - principal | Minimun of the year
Credit risk
Probability of Default	0.75%	0.75%
Credit risk | Loans at amortized cost | Grades 5 - 6 | 0.75 - 3.80 | Carrying amount - principal | Maximum of the year
Credit risk
Probability of Default	3.80%	3.80%
Credit risk | Loans at amortized cost | Grades 7 - 8 | 3.81 - 34.51 | Carrying amount - principal
Credit risk
Financial assets	$ 373,051	$ 191,701
Credit risk | Loans at amortized cost | Grades 7 - 8 | 3.81 - 34.51 | Carrying amount - principal | Minimun of the year
Credit risk
Probability of Default	3.81%	3.81%
Credit risk | Loans at amortized cost | Grades 7 - 8 | 3.81 - 34.51 | Carrying amount - principal | Maximum of the year
Credit risk
Probability of Default	34.51%	34.51%
Credit risk | Loans at amortized cost | Grades 9 - 10 | 34.52 - 100 | Carrying amount - principal
Credit risk
Financial assets	$ 10,107	$ 10,107
Credit risk | Loans at amortized cost | Grades 9 - 10 | 34.52 - 100 | Carrying amount - principal | Minimun of the year
Credit risk
Probability of Default	34.52%	34.52%
Credit risk | Loans at amortized cost | Grades 9 - 10 | 34.52 - 100 | Carrying amount - principal | Maximum of the year
Credit risk
Probability of Default	100%	100%
Credit risk | Loans at amortized cost | Expected credit losses individually assessed
Credit risk
Financial assets	$ 3,209	$ 8,546
Credit risk | Loans at amortized cost | Expected credit losses individually assessed | Carrying amount - principal
Credit risk
Financial assets	10,107	30,107
Credit risk | Loans at amortized cost | Expected credit losses individually assessed | Loss allowance
Credit risk
Financial assets	(6,898)	(21,561)
Credit risk | Loans at amortized cost | Expected credit losses individually assessed | Grades 1 - 4 | 0.03 - 0.74 | Carrying amount - principal
Credit risk
Financial assets	0	0
Credit risk | Loans at amortized cost | Expected credit losses individually assessed | Grades 5 - 6 | 0.75 - 3.80 | Carrying amount - principal
Credit risk
Financial assets	0	0
Credit risk | Loans at amortized cost | Expected credit losses individually assessed | Grades 7 - 8 | 3.81 - 34.51 | Carrying amount - principal
Credit risk
Financial assets	0	20,000
Credit risk | Loans at amortized cost | Expected credit losses individually assessed | Grades 9 - 10 | 34.52 - 100 | Carrying amount - principal
Credit risk
Financial assets	10,107
Credit risk | Loans at amortized cost | Current
Credit risk
Financial assets	6,843,198	6,605,601
Credit risk | Loans at amortized cost | Current | Carrying amount - principal
Credit risk
Financial assets	6,877,976	6,634,190
Credit risk | Loans at amortized cost | Current | Loss allowance
Credit risk
Financial assets	(34,778)	(28,589)
Credit risk | Loans at amortized cost | Current | Grades 1 - 4 | 0.03 - 0.74 | Carrying amount - principal
Credit risk
Financial assets	2,893,562	2,864,686
Credit risk | Loans at amortized cost | Current | Grades 5 - 6 | 0.75 - 3.80 | Carrying amount - principal
Credit risk
Financial assets	3,680,969	3,645,901
Credit risk | Loans at amortized cost | Current | Grades 7 - 8 | 3.81 - 34.51 | Carrying amount - principal
Credit risk
Financial assets	303,445	123,603
Credit risk | Loans at amortized cost | Current | Grades 9 - 10 | 34.52 - 100 | Carrying amount - principal
Credit risk
Financial assets	0	0
Credit risk | Loans at amortized cost | Total | Expected credit losses individually assessed
Credit risk
Financial assets	289,750	93,673
Credit risk | Loans at amortized cost | Total | Expected credit losses individually assessed | Carrying amount - principal
Credit risk
Financial assets	307,484	98,723
Credit risk | Loans at amortized cost | Total | Expected credit losses individually assessed | Loss allowance
Credit risk
Financial assets	(17,734)	(5,050)
Credit risk | Loans at amortized cost | Total | Expected credit losses individually assessed | Grades 1 - 4 | 0.03 - 0.74 | Carrying amount - principal
Credit risk
Financial assets	0	0
Credit risk | Loans at amortized cost | Total | Expected credit losses individually assessed | Grades 5 - 6 | 0.75 - 3.80 | Carrying amount - principal
Credit risk
Financial assets	237,878	50,625
Credit risk | Loans at amortized cost | Total | Expected credit losses individually assessed | Grades 7 - 8 | 3.81 - 34.51 | Carrying amount - principal
Credit risk
Financial assets	69,606	48,098
Credit risk | Loans at amortized cost | Total | Expected credit losses individually assessed | Grades 9 - 10 | 34.52 - 100 | Carrying amount - principal
Credit risk
Financial assets	0	0
Credit risk | Commitments and financial guarantees issued | Carrying amount - principal
Credit risk
Financial assets	1,063,706	779,374
Credit risk | Commitments and financial guarantees issued | Grades 1 - 4 | 0.03 - 0.74 | Carrying amount - principal
Credit risk
Financial assets	$ 457,901	$ 302,260
Credit risk | Commitments and financial guarantees issued | Grades 1 - 4 | 0.03 - 0.74 | Carrying amount - principal | Minimun of the year
Credit risk
Probability of Default	0.03%	0.03%
Credit risk | Commitments and financial guarantees issued | Grades 1 - 4 | 0.03 - 0.74 | Carrying amount - principal | Maximum of the year
Credit risk
Probability of Default	0.74%	0.74%
Credit risk | Commitments and financial guarantees issued | Grades 5 - 6 | 0.75 - 3.80 | Carrying amount - principal
Credit risk
Financial assets	$ 441,782	$ 281,250
Credit risk | Commitments and financial guarantees issued | Grades 5 - 6 | 0.75 - 3.80 | Carrying amount - principal | Minimun of the year
Credit risk
Probability of Default	0.75%	0.75%
Credit risk | Commitments and financial guarantees issued | Grades 5 - 6 | 0.75 - 3.80 | Carrying amount - principal | Maximum of the year
Credit risk
Probability of Default	3.80%	3.80%
Credit risk | Commitments and financial guarantees issued | Grades 7 - 8 | 3.81 - 34.51 | Carrying amount - principal
Credit risk
Financial assets	$ 164,023	$ 195,864
Credit risk | Commitments and financial guarantees issued | Grades 7 - 8 | 3.81 - 34.51 | Carrying amount - principal | Minimun of the year
Credit risk
Probability of Default	3.81%	3.81%
Credit risk | Commitments and financial guarantees issued | Grades 7 - 8 | 3.81 - 34.51 | Carrying amount - principal | Maximum of the year
Credit risk
Probability of Default	34.51%	34.51%
Credit risk | Commitments and financial guarantees issued | Expected credit losses individually assessed | Carrying amount - principal
Credit risk
Financial assets	$ 0	$ 0
Credit risk | Commitments and financial guarantees issued | Expected credit losses individually assessed | Grades 1 - 4 | 0.03 - 0.74 | Carrying amount - principal
Credit risk
Financial assets	0	0
Credit risk | Commitments and financial guarantees issued | Expected credit losses individually assessed | Grades 5 - 6 | 0.75 - 3.80 | Carrying amount - principal
Credit risk
Financial assets	0	0
Credit risk | Commitments and financial guarantees issued | Expected credit losses individually assessed | Grades 7 - 8 | 3.81 - 34.51 | Carrying amount - principal
Credit risk
Financial assets	0	0
Credit risk | Commitments and financial guarantees issued | Current | Carrying amount - principal
Credit risk
Financial assets	1,035,160	777,674
Credit risk | Commitments and financial guarantees issued | Current | Grades 1 - 4 | 0.03 - 0.74 | Carrying amount - principal
Credit risk
Financial assets	457,901	302,260
Credit risk | Commitments and financial guarantees issued | Current | Grades 5 - 6 | 0.75 - 3.80 | Carrying amount - principal
Credit risk
Financial assets	416,786	279,550
Credit risk | Commitments and financial guarantees issued | Current | Grades 7 - 8 | 3.81 - 34.51 | Carrying amount - principal
Credit risk
Financial assets	160,473	195,864
Credit risk | Commitments and financial guarantees issued | Total | Expected credit losses individually assessed | Carrying amount - principal
Credit risk
Financial assets	28,546	1,700
Credit risk | Commitments and financial guarantees issued | Total | Expected credit losses individually assessed | Grades 1 - 4 | 0.03 - 0.74 | Carrying amount - principal
Credit risk
Financial assets	0	0
Credit risk | Commitments and financial guarantees issued | Total | Expected credit losses individually assessed | Grades 5 - 6 | 0.75 - 3.80 | Carrying amount - principal
Credit risk
Financial assets	24,996	1,700
Credit risk | Commitments and financial guarantees issued | Total | Expected credit losses individually assessed | Grades 7 - 8 | 3.81 - 34.51 | Carrying amount - principal
Credit risk
Financial assets	3,550	0
Credit risk | Customers' liabilities under acceptances | Carrying amount - principal
Credit risk
Financial assets	261,428	163,345
Credit risk | Customers' liabilities under acceptances | Grades 1 - 4 | 0.03 - 0.74 | Carrying amount - principal
Credit risk
Financial assets	$ 163,438	$ 34,258
Credit risk | Customers' liabilities under acceptances | Grades 1 - 4 | 0.03 - 0.74 | Carrying amount - principal | Minimun of the year
Credit risk
Probability of Default	0.03%	0.03%
Credit risk | Customers' liabilities under acceptances | Grades 1 - 4 | 0.03 - 0.74 | Carrying amount - principal | Maximum of the year
Credit risk
Probability of Default	0.74%	0.74%
Credit risk | Customers' liabilities under acceptances | Grades 5 - 6 | 0.75 - 3.80 | Carrying amount - principal
Credit risk
Financial assets	$ 2,009	$ 19,782
Credit risk | Customers' liabilities under acceptances | Grades 5 - 6 | 0.75 - 3.80 | Carrying amount - principal | Minimun of the year
Credit risk
Probability of Default	0.75%	0.75%
Credit risk | Customers' liabilities under acceptances | Grades 5 - 6 | 0.75 - 3.80 | Carrying amount - principal | Maximum of the year
Credit risk
Probability of Default	3.80%	3.80%
Credit risk | Customers' liabilities under acceptances | Grades 7 - 8 | 3.81 - 34.51 | Carrying amount - principal
Credit risk
Financial assets	$ 95,981	$ 109,305
Credit risk | Customers' liabilities under acceptances | Grades 7 - 8 | 3.81 - 34.51 | Carrying amount - principal | Minimun of the year
Credit risk
Probability of Default	3.81%	3.81%
Credit risk | Customers' liabilities under acceptances | Grades 7 - 8 | 3.81 - 34.51 | Carrying amount - principal | Maximum of the year
Credit risk
Probability of Default	34.51%	34.51%
Credit risk | Customers' liabilities under acceptances | Expected credit losses individually assessed | Carrying amount - principal
Credit risk
Financial assets	$ 0	$ 0
Credit risk | Customers' liabilities under acceptances | Expected credit losses individually assessed | Grades 1 - 4 | 0.03 - 0.74 | Carrying amount - principal
Credit risk
Financial assets	0	0
Credit risk | Customers' liabilities under acceptances | Expected credit losses individually assessed | Grades 5 - 6 | 0.75 - 3.80 | Carrying amount - principal
Credit risk
Financial assets	0	0
Credit risk | Customers' liabilities under acceptances | Expected credit losses individually assessed | Grades 7 - 8 | 3.81 - 34.51 | Carrying amount - principal
Credit risk
Financial assets	0	0
Credit risk | Customers' liabilities under acceptances | Current | Carrying amount - principal
Credit risk
Financial assets	261,428	163,345
Credit risk | Customers' liabilities under acceptances | Current | Grades 1 - 4 | 0.03 - 0.74 | Carrying amount - principal
Credit risk
Financial assets	163,438	34,258
Credit risk | Customers' liabilities under acceptances | Current | Grades 5 - 6 | 0.75 - 3.80 | Carrying amount - principal
Credit risk
Financial assets	2,009	19,782
Credit risk | Customers' liabilities under acceptances | Current | Grades 7 - 8 | 3.81 - 34.51 | Carrying amount - principal
Credit risk
Financial assets	95,981	109,305
Credit risk | Customers' liabilities under acceptances | Total | Expected credit losses individually assessed | Carrying amount - principal
Credit risk
Financial assets	0	0
Credit risk | Customers' liabilities under acceptances | Total | Expected credit losses individually assessed | Grades 1 - 4 | 0.03 - 0.74 | Carrying amount - principal
Credit risk
Financial assets	0	0
Credit risk | Customers' liabilities under acceptances | Total | Expected credit losses individually assessed | Grades 5 - 6 | 0.75 - 3.80 | Carrying amount - principal
Credit risk
Financial assets	0	0
Credit risk | Customers' liabilities under acceptances | Total | Expected credit losses individually assessed | Grades 7 - 8 | 3.81 - 34.51 | Carrying amount - principal
Credit risk
Financial assets	0	0
Credit risk | Loan commitments and financial guarantee contracts
Credit risk
Financial assets	1,320,075	939,091
Credit risk | Loan commitments and financial guarantee contracts | Carrying amount - principal
Credit risk
Financial assets	1,325,134	942,719
Credit risk | Loan commitments and financial guarantee contracts | Loss allowance
Credit risk
Financial assets	(5,059)	(3,628)
Credit risk | Loan commitments and financial guarantee contracts | Expected credit losses individually assessed
Credit risk
Financial assets	0	0
Credit risk | Loan commitments and financial guarantee contracts | Expected credit losses individually assessed | Carrying amount - principal
Credit risk
Financial assets	0	0
Credit risk | Loan commitments and financial guarantee contracts | Expected credit losses individually assessed | Loss allowance
Credit risk
Financial assets	0	0
Credit risk | Loan commitments and financial guarantee contracts | Current
Credit risk
Financial assets	1,292,683	937,414
Credit risk | Loan commitments and financial guarantee contracts | Current | Carrying amount - principal
Credit risk
Financial assets	1,296,588	941,019
Credit risk | Loan commitments and financial guarantee contracts | Current | Loss allowance
Credit risk
Financial assets	(3,905)	(3,605)
Credit risk | Loan commitments and financial guarantee contracts | Total | Expected credit losses individually assessed
Credit risk
Financial assets	27,392	1,677
Credit risk | Loan commitments and financial guarantee contracts | Total | Expected credit losses individually assessed | Carrying amount - principal
Credit risk
Financial assets	28,546	1,700
Credit risk | Loan commitments and financial guarantee contracts | Total | Expected credit losses individually assessed | Loss allowance
Credit risk
Financial assets	$ (1,154)	$ (23)

Financial risk review - Sched_2

Financial risk review - Schedule of Financial Assets that are Either Past Due or Impaired (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Credit risk
Loans	$ 7,195,567	$ 6,763,020
Stage 1
Credit risk
Loans	6,873,737	6,634,190
Stage 2
Credit risk
Loans	311,723	98,723
Stage 3
Credit risk
Loans	10,107	30,107
Current
Credit risk
Loans	7,185,460	6,732,913
Current | Stage 1
Credit risk
Loans	6,873,737	6,634,190
Current | Stage 2
Credit risk
Loans	311,723	98,723
Current | Stage 3
Credit risk
Loans	0	0
Defaulters
Credit risk
Loans		20,000
Defaulters | Stage 1
Credit risk
Loans		0
Defaulters | Stage 2
Credit risk
Loans		0
Defaulters | Stage 3
Credit risk
Loans		20,000
Past due
Credit risk
Loans	10,107	10,107
Past due | Stage 1
Credit risk
Loans	0	0
Past due | Stage 2
Credit risk
Loans	0	0
Past due | Stage 3
Credit risk
Loans	$ 10,107	$ 10,107

Financial risk review - Sched_3

Financial risk review - Schedule of Credit Exposure of Derivative Transactions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disclosure of financial assets [line items]
Derivative financial instruments - assets	$ 157,267	$ 68,159
Derivative financial instruments - liabilities	(40,613)	(33,761)
Derivatives
Disclosure of financial assets [line items]
Notional value USD	2,665,436	1,733,454
Derivative financial instruments - assets	157,267	68,159
Derivative financial instruments - liabilities	(40,613)	(33,761)
Interest rate swaps
Disclosure of financial assets [line items]
Notional value USD	987,394	368,711
Derivative financial instruments - assets	11,358	483
Derivative financial instruments - liabilities	(790)	(544)
Cross-currency swaps
Disclosure of financial assets [line items]
Notional value USD	1,678,042	1,175,570
Derivative financial instruments - assets	145,909	45,806
Derivative financial instruments - liabilities	$ (39,823)	(33,217)
Foreign exchange forwards
Disclosure of financial assets [line items]
Notional value USD		189,173
Derivative financial instruments - assets		21,870
Derivative financial instruments - liabilities		$ 0
Guarantees and other financial credit enhancements
Disclosure of financial assets [line items]
Coverage ratio on loan portfolio	16%	12%

Financial risk review - Sched_4

Financial risk review - Schedule of Macroeconomic Assumptions Used in the Base, Optimistic and Pessimistic Scenarios (Details)	Dec. 31, 2023	Dec. 31, 2022
Base | Brazil
Disclosure of financial assets [line items]
GDP Growth (Var.% )	2.10%	1.90%
ComEx Growth Index (Var.% )	2.50%	7.10%
Base | Chile
Disclosure of financial assets [line items]
GDP Growth (Var.% )	1.80%	1.70%
ComEx Growth Index (Var.% )	1.40%	3.10%
Base | Colombia
Disclosure of financial assets [line items]
GDP Growth (Var.% )	2.40%	3.60%
ComEx Growth Index (Var.% )	0.20%	8.40%
Base | Dominican Republic
Disclosure of financial assets [line items]
GDP Growth (Var.% )	4.20%	4.80%
ComEx Growth Index (Var.% )	3.60%	5.80%
Base | Ecuador
Disclosure of financial assets [line items]
GDP Growth (Var.% )	1.80%	2.60%
ComEx Growth Index (Var.% )	0.20%	5.70%
Base | Guatemala
Disclosure of financial assets [line items]
GDP Growth (Var.% )	3.40%	3.50%
ComEx Growth Index (Var.% )	4.70%	5.80%
Base | Mexico
Disclosure of financial assets [line items]
GDP Growth (Var.% )	2.40%	1.90%
ComEx Growth Index (Var.% )	4.90%	6.40%
Base | Peru
Disclosure of financial assets [line items]
GDP Growth (Var.% )	2.30%	2.90%
ComEx Growth Index (Var.% )	2.70%	4.90%
Upside | Brazil
Disclosure of financial assets [line items]
GDP Growth (Var.% )	3.10%	2.90%
ComEx Growth Index (Var.% )	6%	10.60%
Upside | Chile
Disclosure of financial assets [line items]
GDP Growth (Var.% )	2.90%	2.80%
ComEx Growth Index (Var.% )	4.90%	6.60%
Upside | Colombia
Disclosure of financial assets [line items]
GDP Growth (Var.% )	3.50%	4.70%
ComEx Growth Index (Var.% )	3.20%	11.40%
Upside | Dominican Republic
Disclosure of financial assets [line items]
GDP Growth (Var.% )	5.40%	6%
ComEx Growth Index (Var.% )	7.10%	9.30%
Upside | Ecuador
Disclosure of financial assets [line items]
GDP Growth (Var.% )	2.80%	3.60%
ComEx Growth Index (Var.% )	3.20%	8.70%
Upside | Guatemala
Disclosure of financial assets [line items]
GDP Growth (Var.% )	4.40%	4.50%
ComEx Growth Index (Var.% )	7.70%	8.80%
Upside | Mexico
Disclosure of financial assets [line items]
GDP Growth (Var.% )	3.40%	2.90%
ComEx Growth Index (Var.% )	8.90%	10.40%
Upside | Peru
Disclosure of financial assets [line items]
GDP Growth (Var.% )	3.30%	3.90%
ComEx Growth Index (Var.% )	6.20%	8.40%
Downside | Brazil
Disclosure of financial assets [line items]
GDP Growth (Var.% )	0.70%	0.50%
ComEx Growth Index (Var.% )	(1.50%)	3.10%
Downside | Chile
Disclosure of financial assets [line items]
GDP Growth (Var.% )	0.60%	0.50%
ComEx Growth Index (Var.% )	(2.60%)	(0.90%)
Downside | Colombia
Disclosure of financial assets [line items]
GDP Growth (Var.% )	1.10%	2.30%
ComEx Growth Index (Var.% )	(3.30%)	4.90%
Downside | Dominican Republic
Disclosure of financial assets [line items]
GDP Growth (Var.% )	2.90%	3.50%
ComEx Growth Index (Var.% )	(0.40%)	1.80%
Downside | Ecuador
Disclosure of financial assets [line items]
GDP Growth (Var.% )	0.30%	1.10%
ComEx Growth Index (Var.% )	(3.30%)	2.20%
Downside | Guatemala
Disclosure of financial assets [line items]
GDP Growth (Var.% )	2.20%	2.30%
ComEx Growth Index (Var.% )	1.20%	2.30%
Downside | Mexico
Disclosure of financial assets [line items]
GDP Growth (Var.% )	1.20%	0.70%
ComEx Growth Index (Var.% )	0.40%	1.90%
Downside | Peru
Disclosure of financial assets [line items]
GDP Growth (Var.% )	1.10%	1.70%
ComEx Growth Index (Var.% )	(1.30%)	0.90%

Financial risk review - Sched_5

Financial risk review - Schedule of Reconciliation of Changes in Loss Allowance and Explanation of Changes in Gross Carrying Amount for Financial Instruments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Credit risk
Net effect of changes in allowance for expected credit losses	$ 17,017	$ 8,906	$ (2,551)
Financial instruments that have been derecognized during the year	(22,956)	(16,770)	(16,873)
New instruments originated or purchased	33,402	27,385	21,752
Write-offs	(7,000)
At amortized cost
Credit risk
Credit-impaired loans at beginning of year	941,971
Net effect of changes in allowance for expected credit losses	1,741	4,897	(20)
Financial instruments that have been derecognized during the year	(1,292)	(420)	(193)
New instruments originated or purchased	238	1,684	1,508
Credit-impaired loans at end of year	999,544	941,971
Securities at amortized cost
Credit risk
Credit-impaired loans at beginning of year	77,972
Net effect of changes in allowance for expected credit losses	0	0	0
Financial instruments that have been derecognized during the year	(11)	(16)	(17)
New instruments originated or purchased	2	0	0
Credit-impaired loans at end of year	11,824	77,972
Loans at amortized cost
Credit risk
Credit-impaired loans at beginning of year	6,763,020
Net effect of changes in allowance for expected credit losses	15,313	4,208	(2,477)
Financial instruments that have been derecognized during the year	(18,829)	(13,217)	(14,715)
New instruments originated or purchased	28,870	22,560	17,343
Credit-impaired loans at end of year	7,195,567	6,763,020
Loan commitments and financial guarantee contracts
Credit risk
Credit-impaired loans at beginning of year	942,719
Net effect of changes in allowance for expected credit losses	(37)	(199)	(54)
Financial instruments that have been derecognized during the year	(2,824)	(3,117)	(1,948)
New instruments originated or purchased	4,292	3,141	2,901
Credit-impaired loans at end of year	1,325,134	942,719
Loss allowance | At amortized cost
Credit risk
Credit-impaired loans at beginning of year	7,951	1,790
Transfer to lifetime expected credit losses	0	0
Transfer to credit-impaired financial instruments		0
Net effect of changes in allowance for expected credit losses	1,741	4,897
Financial instruments that have been derecognized during the year	(1,292)	(420)
New instruments originated or purchased	238	1,684
Write-offs	(7,006)
Credit-impaired loans at end of year	1,632	7,951	1,790
Loss allowance | Securities at amortized cost
Credit risk
Credit-impaired loans at beginning of year	10	26
Financial instruments that have been derecognized during the year	(11)
New instruments originated or purchased	2	16
Credit-impaired loans at end of year	1	10	26
Loss allowance | Loans at amortized cost
Credit risk
Credit-impaired loans at beginning of year	55,200	41,476
Transfer to lifetime expected credit losses	0	0
Transfer to 12-month expected credit losses		0
Transfer to credit-impaired financial instruments		0
Net effect of changes in allowance for expected credit losses	15,313	4,208
Financial instruments that have been derecognized during the year	(18,829)	(13,217)
New instruments originated or purchased	28,870	22,560
Write-offs	(21,144)	(893)
Recoveries		1,066
Credit-impaired loans at end of year	59,410	55,200	41,476
Loss allowance | Loan commitments and financial guarantee contracts
Credit risk
Credit-impaired loans at beginning of year	3,628	3,803
Transfer to lifetime expected credit losses	0
Transfer to 12-month expected credit losses	0	0
Net effect of changes in allowance for expected credit losses	(37)	(199)
Financial instruments that have been derecognized during the year	(2,824)	(3,117)
New instruments originated or purchased	4,292	3,141
Credit-impaired loans at end of year	5,059	3,628	3,803
Expected credit losses collectively assessed | Loss allowance | At amortized cost
Credit risk
Credit-impaired loans at beginning of year	4,002	0
Transfer to lifetime expected credit losses	0	0
Transfer to credit-impaired financial instruments		33
Net effect of changes in allowance for expected credit losses	1,252	3,969
Financial instruments that have been derecognized during the year	0	0
New instruments originated or purchased	0	0
Write-offs	(5,254)
Credit-impaired loans at end of year	0	4,002	0
Expected credit losses collectively assessed | Loss allowance | Securities at amortized cost
Credit risk
Credit-impaired loans at beginning of year	0	0
Financial instruments that have been derecognized during the year	0
New instruments originated or purchased	0	0
Credit-impaired loans at end of year	0	0	0
Expected credit losses collectively assessed | Loss allowance | Loans at amortized cost
Credit risk
Credit-impaired loans at beginning of year	21,561	5,186
Transfer to lifetime expected credit losses	0	0
Transfer to 12-month expected credit losses		0
Transfer to credit-impaired financial instruments		130
Net effect of changes in allowance for expected credit losses	6,481	16,072
Financial instruments that have been derecognized during the year	0	0
New instruments originated or purchased	0	0
Write-offs	(21,144)	(893)
Recoveries		1,066
Credit-impaired loans at end of year	6,898	21,561	5,186
Expected credit losses collectively assessed | Loss allowance | Loan commitments and financial guarantee contracts
Credit risk
Credit-impaired loans at beginning of year	0	0
Transfer to lifetime expected credit losses	0
Transfer to 12-month expected credit losses	0	0
Net effect of changes in allowance for expected credit losses	0	0
Financial instruments that have been derecognized during the year	0	0
New instruments originated or purchased	0	0
Credit-impaired loans at end of year	0	0	0
Current | Loss allowance | At amortized cost
Credit risk
Credit-impaired loans at beginning of year	2,170	1,790
Transfer to lifetime expected credit losses	(46)	(46)
Transfer to credit-impaired financial instruments		(33)
Net effect of changes in allowance for expected credit losses	(58)	(13)
Financial instruments that have been derecognized during the year	(1,074)	(420)
New instruments originated or purchased	238	892
Write-offs	0
Credit-impaired loans at end of year	1,230	2,170	1,790
Current | Loss allowance | Securities at amortized cost
Credit risk
Credit-impaired loans at beginning of year	10	26
Financial instruments that have been derecognized during the year	(11)
New instruments originated or purchased	2	16
Credit-impaired loans at end of year	1	10	26
Current | Loss allowance | Loans at amortized cost
Credit risk
Credit-impaired loans at beginning of year	28,589	20,115
Transfer to lifetime expected credit losses	(752)	(29)
Transfer to 12-month expected credit losses		176
Transfer to credit-impaired financial instruments		(130)
Net effect of changes in allowance for expected credit losses	(2,363)	(1,718)
Financial instruments that have been derecognized during the year	(17,950)	(12,385)
New instruments originated or purchased	27,254	22,560
Write-offs	0	0
Recoveries		0
Credit-impaired loans at end of year	34,778	28,589	20,115
Current | Loss allowance | Loan commitments and financial guarantee contracts
Credit risk
Credit-impaired loans at beginning of year	3,605	3,472
Transfer to lifetime expected credit losses	(24)
Transfer to 12-month expected credit losses	22	133
Net effect of changes in allowance for expected credit losses	(58)	(160)
Financial instruments that have been derecognized during the year	(2,824)	(2,981)
New instruments originated or purchased	3,184	3,141
Credit-impaired loans at end of year	3,905	3,605	3,472
Total | Expected credit losses individually assessed | Loss allowance | At amortized cost
Credit risk
Credit-impaired loans at beginning of year	1,779	0
Transfer to lifetime expected credit losses	46	46
Transfer to credit-impaired financial instruments		0
Net effect of changes in allowance for expected credit losses	547	941
Financial instruments that have been derecognized during the year	(218)	0
New instruments originated or purchased	0	792
Write-offs	(1,752)
Credit-impaired loans at end of year	402	1,779	0
Total | Expected credit losses individually assessed | Loss allowance | Securities at amortized cost
Credit risk
Credit-impaired loans at beginning of year	0	0
Financial instruments that have been derecognized during the year	0
New instruments originated or purchased	0	0
Credit-impaired loans at end of year	0	0	0
Total | Expected credit losses individually assessed | Loss allowance | Loans at amortized cost
Credit risk
Credit-impaired loans at beginning of year	5,050	16,175
Transfer to lifetime expected credit losses	752	29
Transfer to 12-month expected credit losses		(176)
Transfer to credit-impaired financial instruments		0
Net effect of changes in allowance for expected credit losses	11,195	(10,146)
Financial instruments that have been derecognized during the year	(879)	(832)
New instruments originated or purchased	1,616	0
Write-offs	0	0
Recoveries		0
Credit-impaired loans at end of year	17,734	5,050	16,175
Total | Expected credit losses individually assessed | Loss allowance | Loan commitments and financial guarantee contracts
Credit risk
Credit-impaired loans at beginning of year	23	331
Transfer to lifetime expected credit losses	24
Transfer to 12-month expected credit losses	(22)	(133)
Net effect of changes in allowance for expected credit losses	21	(39)
Financial instruments that have been derecognized during the year	0	(136)
New instruments originated or purchased	1,108	0
Credit-impaired loans at end of year	$ 1,154	$ 23	$ 331

Financial risk review - Change

Financial risk review - Change from Allowance for Credit Loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Credit risk
Net effect of changes in allowance for expected credit losses	$ 17,017	$ 8,906	$ (2,551)
Financial instruments that have been derecognized during the year	(22,956)	(16,770)	(16,873)
New instruments originated or purchased	33,402	27,385	21,752
Total	27,463	19,521	2,328
At amortized cost
Credit risk
Net effect of changes in allowance for expected credit losses	1,741	4,897	(20)
Financial instruments that have been derecognized during the year	(1,292)	(420)	(193)
New instruments originated or purchased	238	1,684	1,508
Total	687	6,161	1,295
Securities at amortized cost
Credit risk
Net effect of changes in allowance for expected credit losses	0	0	0
Financial instruments that have been derecognized during the year	(11)	(16)	(17)
New instruments originated or purchased	2	0	0
Total	(9)	(16)	(17)
Loans at amortized cost
Credit risk
Net effect of changes in allowance for expected credit losses	15,313	4,208	(2,477)
Financial instruments that have been derecognized during the year	(18,829)	(13,217)	(14,715)
New instruments originated or purchased	28,870	22,560	17,343
Total	25,354	13,551	151
Loan commitments and financial guarantee contracts
Credit risk
Net effect of changes in allowance for expected credit losses	(37)	(199)	(54)
Financial instruments that have been derecognized during the year	(2,824)	(3,117)	(1,948)
New instruments originated or purchased	4,292	3,141	2,901
Total	$ 1,431	$ (175)	$ 899

Financial risk review - Sched_6

Financial risk review - Schedule of Reconciliation of Changes in the Net Carrying Amount of Credit-Impaired Loans (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Credit risk
Write-offs	$ (7,000)
Write-offs	(5,254)	$ 0
Loans at amortized cost
Credit risk
Credit-impaired loans at beginning of year	6,763,020
Credit-impaired loans at end of year	7,195,567	6,763,020
Loans at amortized cost | Carrying amount - principal
Credit risk
Credit-impaired loans at beginning of year	6,763,020
Credit-impaired loans at end of year	7,195,567	6,763,020
Loans at amortized cost | Loss allowance
Credit risk
Credit-impaired loans at beginning of year	55,200	41,476
Write-offs	(21,144)	(893)
Recoveries of amounts previously written off		1,066
Credit-impaired loans at end of year	59,410	55,200
Investments at amortized cost with credit impairment at beginning of year	4,002	0
Classified as credit-impaired during the year	0	33
Change in allowance for expected credit losses	1,249	3,717
Interest income	3	252
Investments at amortized cost with credit impairment at end of year	0	4,002
Financial instruments credit-impaired | Loans at amortized cost | Carrying amount - principal
Credit risk
Credit-impaired loans at beginning of year	21,561	5,186
Classified as credit-impaired during the year	0	130
Change in allowance for expected credit losses	6,181	14,606
Write-offs	(21,144)	(893)
Recoveries of amounts previously written off	0	1,066
Interest income	300	1,466
Credit-impaired loans at end of year	$ 6,898	$ 21,561

Financial risk review - Sched_7

Financial risk review - Schedule of Concentrations of Credit Risk by Sector and Industry (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
At amortized cost
Financial Risk
Total	$ 999,544	$ 941,971
Securities at amortized cost
Financial Risk
Total	11,824	77,972
Carrying amount - principal | At amortized cost
Financial Risk
Total	999,544	941,971
Carrying amount - principal | Securities at amortized cost
Financial Risk
Total	11,824	77,972
Amount committed/guaranteed | At amortized cost
Financial Risk
Total	0	0
Amount committed/guaranteed | Securities at amortized cost
Financial Risk
Total	0	0
Loans at amortized cost
Financial Risk
Total	7,195,567	6,763,020
Loans at amortized cost | Carrying amount - principal
Financial Risk
Total	7,195,567	6,763,020
Loans at amortized cost | Amount committed/guaranteed
Financial Risk
Total	0	0
Loan commitments and financial guarantee contracts
Financial Risk
Total	1,325,134	942,719
Loan commitments and financial guarantee contracts | Carrying amount - principal
Financial Risk
Total	261,428	163,345
Loan commitments and financial guarantee contracts | Amount committed/guaranteed
Financial Risk
Total	1,063,706	779,374
Financial institutions | At amortized cost
Financial Risk
Total	351,463	282,878
Financial institutions | Securities at amortized cost
Financial Risk
Total	11,824	53,199
Financial institutions | Loans at amortized cost
Financial Risk
Total	2,713,067	2,965,266
Financial institutions | Loan commitments and financial guarantee contracts
Financial Risk
Total	482,213	423,112
Manufacturing | At amortized cost
Financial Risk
Total	346,140	339,914
Manufacturing | Securities at amortized cost
Financial Risk
Total	0	14,898
Manufacturing | Loans at amortized cost
Financial Risk
Total	1,702,514	1,341,453
Manufacturing | Loan commitments and financial guarantee contracts
Financial Risk
Total	464,433	293,659
Oil and petroleum derived products | At amortized cost
Financial Risk
Total	95,144	77,553
Oil and petroleum derived products | Securities at amortized cost
Financial Risk
Total	0	9,875
Oil and petroleum derived products | Loans at amortized cost
Financial Risk
Total	1,330,526	1,244,491
Oil and petroleum derived products | Loan commitments and financial guarantee contracts
Financial Risk
Total	106,518	104,426
Agricultural | At amortized cost
Financial Risk
Total	0	0
Agricultural | Securities at amortized cost
Financial Risk
Total	0	0
Agricultural | Loans at amortized cost
Financial Risk
Total	239,498	317,037
Agricultural | Loan commitments and financial guarantee contracts
Financial Risk
Total	22,546	3,854
Services | At amortized cost
Financial Risk
Total	84,840	64,412
Services | Securities at amortized cost
Financial Risk
Total	0	0
Services | Loans at amortized cost
Financial Risk
Total	465,113	267,868
Services | Loan commitments and financial guarantee contracts
Financial Risk
Total	108,632	55,430
Mining | At amortized cost
Financial Risk
Total	9,690	24,381
Mining | Securities at amortized cost
Financial Risk
Total	0	0
Mining | Loans at amortized cost
Financial Risk
Total	328,415	150,707
Mining | Loan commitments and financial guarantee contracts
Financial Risk
Total	26,329	0
Sovereign | At amortized cost
Financial Risk
Total	49,029	64,325
Sovereign | Securities at amortized cost
Financial Risk
Total	0	0
Sovereign | Loans at amortized cost
Financial Risk
Total	85,672	128,628
Sovereign | Loan commitments and financial guarantee contracts
Financial Risk
Total	0	0
Other | At amortized cost
Financial Risk
Total	63,238	88,508
Other | Securities at amortized cost
Financial Risk
Total	0	0
Other | Loans at amortized cost
Financial Risk
Total	330,762	347,570
Other | Loan commitments and financial guarantee contracts
Financial Risk
Total	114,463	62,238
Private | At amortized cost
Financial Risk
Total	582,877	543,381
Private | Securities at amortized cost
Financial Risk
Total	0	24,773
Private | Loans at amortized cost
Financial Risk
Total	3,192,357	2,553,193
Private | Loan commitments and financial guarantee contracts
Financial Risk
Total	727,379	409,139
State-owned | At amortized cost
Financial Risk
Total	20,619	51,388
State-owned | Securities at amortized cost
Financial Risk
Total	0	0
State-owned | Loans at amortized cost
Financial Risk
Total	1,204,471	1,115,932
State-owned | Loan commitments and financial guarantee contracts
Financial Risk
Total	115,542	110,468
Private | At amortized cost
Financial Risk
Total	311,870	250,975
Private | Securities at amortized cost
Financial Risk
Total	0	0
Private | Loans at amortized cost
Financial Risk
Total	2,248,150	2,245,385
Private | Loan commitments and financial guarantee contracts
Financial Risk
Total	97,381	120,614
State-owned | At amortized cost
Financial Risk
Total	35,149	31,902
State-owned | Securities at amortized cost
Financial Risk
Total	11,824	53,199
State-owned | Loans at amortized cost
Financial Risk
Total	464,917	719,882
State-owned | Loan commitments and financial guarantee contracts
Financial Risk
Total	384,832	302,498
Sovereign | At amortized cost
Financial Risk
Total	49,029	64,325
Sovereign | Securities at amortized cost
Financial Risk
Total	0	0
Sovereign | Loans at amortized cost
Financial Risk
Total	85,672	128,628
Sovereign | Loan commitments and financial guarantee contracts
Financial Risk
Total	$ 0	$ 0

Financial risk review - Sched_8

Financial risk review - Schedule of Concentrations of Credit Risk by Rating and Country (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Loans at amortized cost
Financial Risk
Total	$ 7,195,567	$ 6,763,020
Loan commitments and financial guarantee contracts
Financial Risk
Total	1,325,134	942,719
Argentina | Loans at amortized cost
Financial Risk
Total	52,264	55,598
Argentina | Loan commitments and financial guarantee contracts
Financial Risk
Total	0	0
Australia | Loans at amortized cost
Financial Risk
Total	0	0
Australia | Loan commitments and financial guarantee contracts
Financial Risk
Total	0	0
Belgium | Loans at amortized cost
Financial Risk
Total	14,223	25,362
Belgium | Loan commitments and financial guarantee contracts
Financial Risk
Total	0	0
Bolivia | Loans at amortized cost
Financial Risk
Total	0	0
Bolivia | Loan commitments and financial guarantee contracts
Financial Risk
Total	4,270	3,759
Brazil | Loans at amortized cost
Financial Risk
Total	1,008,633	980,205
Brazil | Loan commitments and financial guarantee contracts
Financial Risk
Total	83,932	54,907
Canada | Loans at amortized cost
Financial Risk
Total	22,599	0
Canada | Loan commitments and financial guarantee contracts
Financial Risk
Total	24,996	0
Chile | Loans at amortized cost
Financial Risk
Total	454,885	416,714
Chile | Loan commitments and financial guarantee contracts
Financial Risk
Total	16,423	44,846
Colombia | Loans at amortized cost
Financial Risk
Total	938,897	702,409
Colombia | Loan commitments and financial guarantee contracts
Financial Risk
Total	67,545	54,333
Korea | Loans at amortized cost
Financial Risk
Total	0	0
Korea | Loan commitments and financial guarantee contracts
Financial Risk
Total	0	0
Costa Rica | Loans at amortized cost
Financial Risk
Total	284,709	260,625
Costa Rica | Loan commitments and financial guarantee contracts
Financial Risk
Total	51,895	56,718
Denmark | Loans at amortized cost
Financial Risk
Total	0	0
Denmark | Loan commitments and financial guarantee contracts
Financial Risk
Total	0	11,880
Dominican Republic | Loans at amortized cost
Financial Risk
Total	637,199	579,918
Dominican Republic | Loan commitments and financial guarantee contracts
Financial Risk
Total	157,986	27,534
Ecuador | Loans at amortized cost
Financial Risk
Total	190,628	110,466
Ecuador | Loan commitments and financial guarantee contracts
Financial Risk
Total	259,597	305,168
El Salvador | Loans at amortized cost
Financial Risk
Total	82,500	30,032
El Salvador | Loan commitments and financial guarantee contracts
Financial Risk
Total	0	0
France | Loans at amortized cost
Financial Risk
Total	27,454	126,929
France | Loan commitments and financial guarantee contracts
Financial Risk
Total	96,249	66,906
Germany | Loans at amortized cost
Financial Risk
Total	0	0
Germany | Loan commitments and financial guarantee contracts
Financial Risk
Total	15,000	10,000
Guatemala | Loans at amortized cost
Financial Risk
Total	704,012	745,837
Guatemala | Loan commitments and financial guarantee contracts
Financial Risk
Total	100,227	67,456
Honduras | Loans at amortized cost
Financial Risk
Total	221,672	176,270
Honduras | Loan commitments and financial guarantee contracts
Financial Risk
Total	975	3,615
Hong Kong | Loans at amortized cost
Financial Risk
Total	15,000	2,800
Hong Kong | Loan commitments and financial guarantee contracts
Financial Risk
Total	0	0
Ireland | Loans at amortized cost
Financial Risk
Total	0	0
Ireland | Loan commitments and financial guarantee contracts
Financial Risk
Total	0	0
Israel | Loans at amortized cost
Financial Risk
Total	0	0
Israel | Loan commitments and financial guarantee contracts
Financial Risk
Total	0	0
Italy | Loans at amortized cost
Financial Risk
Total	0	0
Italy | Loan commitments and financial guarantee contracts
Financial Risk
Total	0	0
Jamaica | Loans at amortized cost
Financial Risk
Total	101,858	14,083
Jamaica | Loan commitments and financial guarantee contracts
Financial Risk
Total	0	0
Japan | Loans at amortized cost
Financial Risk
Total	12,037	14,712
Japan | Loan commitments and financial guarantee contracts
Financial Risk
Total	0	0
Luxembourg | Loans at amortized cost
Financial Risk
Total	89,833	114,557
Luxembourg | Loan commitments and financial guarantee contracts
Financial Risk
Total	0	0
Mexico | Loans at amortized cost
Financial Risk
Total	838,495	823,028
Mexico | Loan commitments and financial guarantee contracts
Financial Risk
Total	83,561	69,080
Netherlands | Loans at amortized cost
Financial Risk
Total	0	0
Netherlands | Loan commitments and financial guarantee contracts
Financial Risk
Total	800	0
Norway | Loans at amortized cost
Financial Risk
Total	0	0
Norway | Loan commitments and financial guarantee contracts
Financial Risk
Total	0	0
Panama | Loans at amortized cost
Financial Risk
Total	374,364	533,452
Panama | Loan commitments and financial guarantee contracts
Financial Risk
Total	29,301	19,240
Paraguay | Loans at amortized cost
Financial Risk
Total	186,426	151,287
Paraguay | Loan commitments and financial guarantee contracts
Financial Risk
Total	230	3,430
Peru | Loans at amortized cost
Financial Risk
Total	536,236	478,998
Peru | Loan commitments and financial guarantee contracts
Financial Risk
Total	223,460	114,941
Singapore | Loans at amortized cost
Financial Risk
Total	145,807	152,208
Singapore | Loan commitments and financial guarantee contracts
Financial Risk
Total	7,057	24,333
Trinidad and Tobago | Loans at amortized cost
Financial Risk
Total	132,783	128,846
Trinidad and Tobago | Loan commitments and financial guarantee contracts
Financial Risk
Total	0	0
United States of America | Loans at amortized cost
Financial Risk
Total	74,139	53,463
United States of America | Loan commitments and financial guarantee contracts
Financial Risk
Total	0	3,349
United Kingdom | Loans at amortized cost
Financial Risk
Total	37,314	51,221
United Kingdom | Loan commitments and financial guarantee contracts
Financial Risk
Total	0	0
Uruguay | Loans at amortized cost
Financial Risk
Total	11,600	34,000
Uruguay | Loan commitments and financial guarantee contracts
Financial Risk
Total	101,630	1,224
Multilateral | Loans at amortized cost
Financial Risk
Total	0	0
Multilateral | Loan commitments and financial guarantee contracts
Financial Risk
Total	0	0
1 - 4 | Loans at amortized cost
Financial Risk
Total	2,893,562	2,864,685
1 - 4 | Loan commitments and financial guarantee contracts
Financial Risk
Total	621,339	336,519
5 - 6 | Loans at amortized cost
Financial Risk
Total	3,918,848	3,696,527
5 - 6 | Loan commitments and financial guarantee contracts
Financial Risk
Total	443,791	301,031
7-8 | Loans at amortized cost
Financial Risk
Total	373,050	191,701
7-8 | Loan commitments and financial guarantee contracts
Financial Risk
Total	260,004	305,169
10 | Loans at amortized cost
Financial Risk
Total	10,107	10,107
10 | Loan commitments and financial guarantee contracts
Financial Risk
Total	0	0
At amortized cost
Financial Risk
Total	999,544	941,971
At amortized cost | Argentina
Financial Risk
Total	0	0
At amortized cost | Australia
Financial Risk
Total	4,803	9,628
At amortized cost | Belgium
Financial Risk
Total	0	0
At amortized cost | Bolivia
Financial Risk
Total	0	0
At amortized cost | Brazil
Financial Risk
Total	31,009	69,501
At amortized cost | Canada
Financial Risk
Total	38,508	13,503
At amortized cost | Chile
Financial Risk
Total	79,495	112,586
At amortized cost | Colombia
Financial Risk
Total	23,837	54,484
At amortized cost | Korea
Financial Risk
Total	1,839	0
At amortized cost | Costa Rica
Financial Risk
Total	7,988	9,926
At amortized cost | Denmark
Financial Risk
Total	0	0
At amortized cost | Dominican Republic
Financial Risk
Total	4,705	4,828
At amortized cost | Ecuador
Financial Risk
Total	0	0
At amortized cost | El Salvador
Financial Risk
Total	0	0
At amortized cost | France
Financial Risk
Total	0	0
At amortized cost | Germany
Financial Risk
Total	14,750	0
At amortized cost | Guatemala
Financial Risk
Total	0	0
At amortized cost | Honduras
Financial Risk
Total	0	0
At amortized cost | Hong Kong
Financial Risk
Total	0	0
At amortized cost | Ireland
Financial Risk
Total	14,976	9,579
At amortized cost | Israel
Financial Risk
Total	4,788	4,880
At amortized cost | Italy
Financial Risk
Total	14,660	0
At amortized cost | Jamaica
Financial Risk
Total	0	0
At amortized cost | Japan
Financial Risk
Total	38,548	4,353
At amortized cost | Luxembourg
Financial Risk
Total	0	0
At amortized cost | Mexico
Financial Risk
Total	62,229	100,870
At amortized cost | Netherlands
Financial Risk
Total	0	0
At amortized cost | Norway
Financial Risk
Total	9,838	0
At amortized cost | Panama
Financial Risk
Total	33,977	29,065
At amortized cost | Paraguay
Financial Risk
Total	0	0
At amortized cost | Peru
Financial Risk
Total	30,635	60,575
At amortized cost | Singapore
Financial Risk
Total	0	0
At amortized cost | Trinidad and Tobago
Financial Risk
Total	0	0
At amortized cost | United States of America
Financial Risk
Total	539,727	458,193
At amortized cost | United Kingdom
Financial Risk
Total	43,232	0
At amortized cost | Uruguay
Financial Risk
Total	0	0
At amortized cost | Multilateral
Financial Risk
Total	0	0
At amortized cost | 1 - 4
Financial Risk
Total	913,524	736,139
At amortized cost | 5 - 6
Financial Risk
Total	86,020	200,837
At amortized cost | 7-8
Financial Risk
Total	0	4,995
At amortized cost | 10
Financial Risk
Total	0	0
Securities at amortized cost
Financial Risk
Total	11,824	77,972
Securities at amortized cost | Argentina
Financial Risk
Total	0	0
Securities at amortized cost | Australia
Financial Risk
Total	0	0
Securities at amortized cost | Belgium
Financial Risk
Total	0	0
Securities at amortized cost | Bolivia
Financial Risk
Total	0	0
Securities at amortized cost | Brazil
Financial Risk
Total	0	0
Securities at amortized cost | Canada
Financial Risk
Total	0	0
Securities at amortized cost | Chile
Financial Risk
Total	0	0
Securities at amortized cost | Colombia
Financial Risk
Total	0	0
Securities at amortized cost | Korea
Financial Risk
Total	0	0
Securities at amortized cost | Costa Rica
Financial Risk
Total	0	0
Securities at amortized cost | Denmark
Financial Risk
Total	0	0
Securities at amortized cost | Dominican Republic
Financial Risk
Total	0	0
Securities at amortized cost | Ecuador
Financial Risk
Total	0	0
Securities at amortized cost | El Salvador
Financial Risk
Total	0	0
Securities at amortized cost | France
Financial Risk
Total	0	0
Securities at amortized cost | Germany
Financial Risk
Total	0	0
Securities at amortized cost | Guatemala
Financial Risk
Total	0	0
Securities at amortized cost | Honduras
Financial Risk
Total	0	0
Securities at amortized cost | Hong Kong
Financial Risk
Total	0	0
Securities at amortized cost | Ireland
Financial Risk
Total	0	0
Securities at amortized cost | Israel
Financial Risk
Total	0	0
Securities at amortized cost | Italy
Financial Risk
Total	0	0
Securities at amortized cost | Jamaica
Financial Risk
Total	0	0
Securities at amortized cost | Japan
Financial Risk
Total	0	0
Securities at amortized cost | Luxembourg
Financial Risk
Total	0	0
Securities at amortized cost | Mexico
Financial Risk
Total	0	0
Securities at amortized cost | Netherlands
Financial Risk
Total	0	0
Securities at amortized cost | Norway
Financial Risk
Total	0	0
Securities at amortized cost | Panama
Financial Risk
Total	0	0
Securities at amortized cost | Paraguay
Financial Risk
Total	0	0
Securities at amortized cost | Peru
Financial Risk
Total	0	0
Securities at amortized cost | Singapore
Financial Risk
Total	0	0
Securities at amortized cost | Trinidad and Tobago
Financial Risk
Total	0	0
Securities at amortized cost | United States of America
Financial Risk
Total	0	43,464
Securities at amortized cost | United Kingdom
Financial Risk
Total	0	0
Securities at amortized cost | Uruguay
Financial Risk
Total	0	0
Securities at amortized cost | Multilateral
Financial Risk
Total	11,824	34,508
Securities at amortized cost | 1 - 4
Financial Risk
Total	11,824	77,972
Securities at amortized cost | 5 - 6
Financial Risk
Total	0	0
Securities at amortized cost | 7-8
Financial Risk
Total	0	0
Securities at amortized cost | 10
Financial Risk
Total	0	0
Carrying amount - principal | Loans at amortized cost
Financial Risk
Total	7,195,567	6,763,020
Carrying amount - principal | Loan commitments and financial guarantee contracts
Financial Risk
Total	261,428	163,345
Carrying amount - principal | At amortized cost
Financial Risk
Total	999,544	941,971
Carrying amount - principal | Securities at amortized cost
Financial Risk
Total	11,824	77,972
Amount committed/guaranteed | Loans at amortized cost
Financial Risk
Total	0	0
Amount committed/guaranteed | Loan commitments and financial guarantee contracts
Financial Risk
Total	1,063,706	779,374
Amount committed/guaranteed | At amortized cost
Financial Risk
Total	0	0
Amount committed/guaranteed | Securities at amortized cost
Financial Risk
Total	$ 0	$ 0

Financial risk review - Sched_9

Financial risk review - Schedule of Offsetting Financial Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Disclosure of offsetting of financial assets [line items]
Gross amounts of assets	$ 157,267	$ 68,159
Net amount of assets presented in the consolidated statement of financial position	157,267	68,159
Gross amounts not offset in the consolidated statement of financial position
Cash collateral received	(152,111)	(50,615)
Net amount	5,156	17,544
Derivative financial instruments used for hedging at FVTPL
Disclosure of offsetting of financial assets [line items]
Gross amounts of assets	157,267	68,159
Net amount of assets presented in the consolidated statement of financial position	157,267	68,159
Gross amounts not offset in the consolidated statement of financial position
Cash collateral received	(152,111)	(50,615)
Net amount	$ 5,156	$ 17,544

Financial risk review - Securit

Financial risk review - Securities Sold Under Repurchase Agreements (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Disclosure of offsetting of financial liabilities [line items]
Gross amounts of liabilities	$ (350,810)	$ (334,259)
Net amount of assets presented in the consolidated statement of financial position	(350,810)	(334,259)
Gross amounts not offset in the consolidated statement of financial position
Financial instruments	342,271	791,956
Cash collateral received	42,384	40,649
Net amount	33,845	498,346
Securities sold under repurchase agreements at amortized cost
Disclosure of offsetting of financial liabilities [line items]
Gross amounts of liabilities	(310,197)	(300,498)
Net amount of assets presented in the consolidated statement of financial position	(310,197)	(300,498)
Gross amounts not offset in the consolidated statement of financial position
Financial instruments	342,271	791,956
Cash collateral received	8,087	22,947
Net amount	40,161	514,405
Derivative financial instruments used for hedging at FVTPL
Disclosure of offsetting of financial liabilities [line items]
Gross amounts of liabilities	(40,613)	(33,761)
Net amount of assets presented in the consolidated statement of financial position	(40,613)	(33,761)
Gross amounts not offset in the consolidated statement of financial position
Cash collateral received	34,297	17,702
Net amount	$ (6,316)	$ (16,059)

Financial risk review - Sche_10

Financial risk review - Schedule of Bank's Liquid Assets Along with Average Information (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disclosure of financial assets [line items]
Net liquid assets ratio	205.80%	167.50%
Year average
Disclosure of financial assets [line items]
Net liquid assets ratio	177.20%	132.60%
Maximum of the year
Disclosure of financial assets [line items]
Net liquid assets ratio	357%	276.90%
Minimun of the year
Disclosure of financial assets [line items]
Net liquid assets ratio	111.50%	81.20%

Financial risk review - Sche_11

Financial risk review - Schedule of Bank's Liquid Assets by Geographical Location (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Disclosure of financial assets [line items]
Total	$ 1,999	$ 1,269
Cash and due from banks
Disclosure of financial assets [line items]
Total	1,987	1,191
Securities at amortized cost
Disclosure of financial assets [line items]
Total	12	78
Total
Disclosure of financial assets [line items]
Total	1,999	1,269
United States of America | Cash and due from banks
Disclosure of financial assets [line items]
Total	1,904	1,151
United States of America | Securities at amortized cost
Disclosure of financial assets [line items]
Total	0	43
United States of America | Total
Disclosure of financial assets [line items]
Total	1,904	1,194
Latin America | Cash and due from banks
Disclosure of financial assets [line items]
Total	7	15
Latin America | Securities at amortized cost
Disclosure of financial assets [line items]
Total	0	0
Latin America | Total
Disclosure of financial assets [line items]
Total	7	15
Other countries | Cash and due from banks
Disclosure of financial assets [line items]
Total	1	0
Other countries | Securities at amortized cost
Disclosure of financial assets [line items]
Total	0	0
Other countries | Total
Disclosure of financial assets [line items]
Total	1	0
Multilateral | Cash and due from banks
Disclosure of financial assets [line items]
Total	75	25
Multilateral | Securities at amortized cost
Disclosure of financial assets [line items]
Total	12	35
Multilateral | Total
Disclosure of financial assets [line items]
Total	$ 87	$ 60

Financial risk review - Sche_12

Financial risk review - Schedule of Bank's Demand Deposits Ratio on Total Deposits And Bank's Liquidity (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Disclosure of credit risk exposure [abstract]
Demand and "overnight" deposits	$ 748	$ 583
Demand and "overnight" deposits to total deposits	17%	18.30%
Total liquid assets	$ 1,999	$ 1,269
Total assets to total liabilities	45.40%	39.80%
Total liquid assets in the Federal Reserve of the United States of America	94.30%	90.20%

Financial risk review - Sche_13

Financial risk review - Schedule of Bank's Loans and Securities Short-Term Portfolio (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disclosure of credit risk exposure [abstract]
Loan portfolio at amortized cost and investment portfolio less than/equal to 1 year according to its original terms	$ 4,087	$ 4,008
Average term (days)	197 days	200 days
Loan portfolio at amortized cost and investment portfolio greater than/equal to 1 year according to its original terms	$ 4,119	$ 3,775
Average term (days)	1381 days	1367 days

Financial risk review - Sche_14

Financial risk review - Schedule of Future Cash Flows Between Assets and Liabilities Grouped by its Remaining Maturity with Respect to the Contractual Maturity (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Assets
Cash and due from banks	$ 2,047,452	$ 1,241,586
Securities, net	1,022,131	1,023,632
Loans	7,195,567	6,763,020
Derivative financial instruments - assets	157,267	68,159
Liabilities
Deposits	(4,451,025)	(3,205,386)
Securities sold under repurchase agreements	(310,197)	(300,498)	$ (427,498)
Borrowings and debt	(4,351,988)	(4,416,511)	$ (3,304,178)	$ (1,966,271)
Lease liabilities	(16,707)	(16,745)
Derivative financial instruments - liabilities	(40,613)	(33,761)
Liquidity risk
Assets
Cash and due from banks	2,047,452	1,241,586
Securities, net	1,022,131	1,023,632
Loans	7,220,520	6,760,434
Derivative financial instruments - assets	157,267	68,159
Total	10,447,370	9,093,811
Liabilities
Deposits	(4,451,025)	(3,205,386)
Securities sold under repurchase agreements	(310,197)	(300,498)
Borrowings and debt	(4,401,205)	(4,464,389)
Lease liabilities	(16,707)	(16,745)
Derivative financial instruments - liabilities	(40,613)	(33,761)
Total	(9,219,747)	(8,020,779)
Subtotal net position	1,227,623	1,073,032
Up to 3 months | Liquidity risk
Assets
Cash and due from banks	2,048,021	1,241,779
Securities, net	10,992	129,983
Loans	1,935,474	2,294,259
Derivative financial instruments - assets	2,510	4,216
Total	3,996,997	3,670,237
Liabilities
Deposits	(3,270,253)	(2,770,754)
Securities sold under repurchase agreements	(317,951)	(53,418)
Borrowings and debt	(856,466)	(776,584)
Lease liabilities	(284)	(384)
Derivative financial instruments - liabilities	(17,188)	(3,702)
Total	(4,462,142)	(3,604,842)
Subtotal net position	(465,145)	65,395
Off-balance sheet contingencies
Confirmed letters of credit	264,603	166,367
Stand-by letters of credit and guarantees	196,775	132,353
Credit commitments	20,000	0
Total	481,378	298,720
Total net position	(946,523)	(233,325)
3 to 6 months | Liquidity risk
Assets
Cash and due from banks	0	0
Securities, net	89,836	105,789
Loans	1,775,280	1,478,494
Derivative financial instruments - assets	5,783	10,831
Total	1,870,899	1,595,114
Liabilities
Deposits	(536,751)	(256,989)
Securities sold under repurchase agreements	0	(64,513)
Borrowings and debt	(746,314)	(895,531)
Lease liabilities	(286)	(384)
Derivative financial instruments - liabilities	(1,994)	(764)
Total	(1,285,345)	(1,218,181)
Subtotal net position	585,554	376,933
Off-balance sheet contingencies
Confirmed letters of credit	64,100	117,398
Stand-by letters of credit and guarantees	79,659	117,750
Credit commitments	39,497	13,102
Total	183,256	248,250
Total net position	402,298	128,683
6 months to 1 year | Liquidity risk
Assets
Cash and due from banks	0	0
Securities, net	110,816	98,345
Loans	1,524,298	1,223,661
Derivative financial instruments - assets	54,983	14,015
Total	1,690,097	1,336,021
Liabilities
Deposits	(606,002)	(161,889)
Securities sold under repurchase agreements	0	(55,144)
Borrowings and debt	(989,680)	(934,288)
Lease liabilities	(572)	(738)
Derivative financial instruments - liabilities	(7,849)	(63)
Total	(1,604,103)	(1,152,122)
Subtotal net position	85,994	183,899
Off-balance sheet contingencies
Confirmed letters of credit	345	21,024
Stand-by letters of credit and guarantees	199,192	92,750
Credit commitments	37,545	32,906
Total	237,082	146,680
Total net position	(151,088)	37,219
1 to 5 years | Liquidity risk
Assets
Cash and due from banks	0	0
Securities, net	886,944	744,996
Loans	2,580,310	2,244,454
Derivative financial instruments - assets	90,516	39,097
Total	3,557,770	3,028,547
Liabilities
Deposits	(90,194)	(39,805)
Securities sold under repurchase agreements	0	(138,286)
Borrowings and debt	(2,167,620)	(2,212,704)
Lease liabilities	(4,728)	(5,769)
Derivative financial instruments - liabilities	(11,661)	(26,882)
Total	(2,274,203)	(2,423,446)
Subtotal net position	1,283,567	605,101
Off-balance sheet contingencies
Confirmed letters of credit	16,560	0
Stand-by letters of credit and guarantees	15,000	8,772
Credit commitments	130,430	76,952
Total	161,990	85,724
Total net position	1,121,577	519,377
More than 5 years | Liquidity risk
Assets
Cash and due from banks	0	0
Securities, net	32,117	10,293
Loans	243,491	158,967
Derivative financial instruments - assets	3,473	0
Total	279,081	169,260
Liabilities
Deposits	0	0
Securities sold under repurchase agreements	0	0
Borrowings and debt	(59,762)	(41,523)
Lease liabilities	(10,837)	(13,771)
Derivative financial instruments - liabilities	(2,034)	(2,350)
Total	(72,633)	(57,644)
Subtotal net position	206,448	111,616
Off-balance sheet contingencies
Confirmed letters of credit	0	0
Stand-by letters of credit and guarantees	0	0
Credit commitments	0	0
Total	0	0
Total net position	206,448	111,616
Gross inflows (outflows) | Liquidity risk
Assets
Cash and due from banks	2,048,021	1,241,779
Securities, net	1,130,705	1,089,406
Loans	8,058,853	7,399,835
Derivative financial instruments - assets	157,265	68,159
Total	11,394,844	9,799,179
Liabilities
Deposits	(4,503,200)	(3,229,437)
Securities sold under repurchase agreements	(317,951)	(311,361)
Borrowings and debt	(4,819,842)	(4,860,630)
Lease liabilities	(16,707)	(21,046)
Derivative financial instruments - liabilities	(40,726)	(33,761)
Total	(9,698,426)	(8,456,235)
Subtotal net position	1,696,418	1,342,944
Off-balance sheet contingencies
Confirmed letters of credit	345,608	304,789
Stand-by letters of credit and guarantees	490,626	351,625
Credit commitments	227,472	122,960
Total	1,063,706	779,374
Total net position	$ 632,712	$ 563,570

Financial risk review - Sche_15

Financial risk review - Schedule of Liquidity Reserves (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Disclosure of fair value measurement of assets [line items]
Balances with Federal Reserve of the United States of America	$ 1,884,204	$ 1,144,896
Cash and due from banks	102,864	46,040
Total	1,987,068	1,190,936
Fair value
Disclosure of fair value measurement of assets [line items]
Balances with Federal Reserve of the United States of America	1,884,204	1,144,896
Cash and due from banks	102,864	46,040
Total	$ 1,987,068	$ 1,190,936

Financial risk review - Sche_16

Financial risk review - Schedule of Financial Assets Available to Support Future Funding (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Financial assets available to support future funding
Pledged as collateral	$ 461,209	$ 382,221
Available as collateral	9,802,166	8,625,998
Cash and due from banks
Financial assets available to support future funding
Pledged as collateral	60,384	50,650
Available as collateral	1,987,066	1,190,936
Notional of investment securities
Financial assets available to support future funding
Pledged as collateral	400,825	331,571
Available as collateral	619,533	672,042
Loans at amortized cost
Financial assets available to support future funding
Pledged as collateral	0	0
Available as collateral	$ 7,195,567	$ 6,763,020

Financial risk review - Sche_17

Financial risk review - Schedule of Bank's Interest Rate Gap Position (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Assets
Securities	$ 1,022,131	$ 1,023,632
Loans	7,195,567	6,763,020
Liabilities
Securities sold under repurchase agreements	(310,197)	(300,498)	$ (427,498)
Borrowings and debt	(4,351,988)	(4,416,511)	$ (3,304,178)	$ (1,966,271)
Interest rate and foreign exchange risk
Assets
Cash and due from banks	2,047,452	1,241,586
Securities	1,011,368	1,019,943
Loans	7,195,567	6,763,020
Total	10,254,387	9,024,549
Liabilities
Demand deposits and time deposits	(4,408,149)	(3,190,716)
Securities sold under repurchase agreements	(310,197)	(300,498)
Borrowings and debt	(4,351,988)	(4,416,511)
Total	(9,070,334)	(7,907,725)
Net effect of derivative financial instruments held for interest risk management	127,733	12,527
Total interest rate sensitivity	1,311,786	1,129,351
Interest rate risk | Up to 3 months
Assets
Cash and due from banks	2,044,103	1,233,700
Securities	14,169	112,736
Loans	4,292,324	2,956,268
Total	6,350,596	4,302,704
Liabilities
Demand deposits and time deposits	(3,553,774)	(2,746,776)
Securities sold under repurchase agreements	(310,197)	(52,164)
Borrowings and debt	(2,653,379)	(1,354,457)
Total	(6,517,350)	(4,153,397)
Net effect of derivative financial instruments held for interest risk management	(3,485)	476
Total interest rate sensitivity	(170,239)	149,783
Interest rate risk | 3 to 6 months
Assets
Cash and due from banks	0	0
Securities	60,256	114,815
Loans	1,699,301	2,531,067
Total	1,759,557	2,645,882
Liabilities
Demand deposits and time deposits	(442,338)	(250,299)
Securities sold under repurchase agreements	0	(62,968)
Borrowings and debt	(381,795)	(953,503)
Total	(824,133)	(1,266,770)
Net effect of derivative financial instruments held for interest risk management	3,790	41
Total interest rate sensitivity	939,214	1,379,153
Interest rate risk | 6 months to 1 year
Assets
Cash and due from banks	0	0
Securities	82,951	82,666
Loans	915,143	1,007,343
Total	998,094	1,090,009
Liabilities
Demand deposits and time deposits	(342,686)	(153,862)
Securities sold under repurchase agreements	0	(53,740)
Borrowings and debt	(483,731)	(1,083,543)
Total	(826,417)	(1,291,145)
Net effect of derivative financial instruments held for interest risk management	47,134	2,145
Total interest rate sensitivity	218,811	(198,991)
Interest rate risk | 1 to 5 years
Assets
Cash and due from banks	0	0
Securities	824,836	701,749
Loans	280,005	240,949
Total	1,104,841	942,698
Liabilities
Demand deposits and time deposits	(59,029)	(35,082)
Securities sold under repurchase agreements	0	(131,626)
Borrowings and debt	(818,947)	(999,151)
Total	(877,976)	(1,165,859)
Net effect of derivative financial instruments held for interest risk management	78,855	12,215
Total interest rate sensitivity	305,720	(210,946)
Interest rate risk | More than 5 years
Assets
Cash and due from banks	0	0
Securities	29,156	7,977
Loans	8,794	27,393
Total	37,950	35,370
Liabilities
Demand deposits and time deposits	0	0
Securities sold under repurchase agreements	0	0
Borrowings and debt	(14,136)	(25,857)
Total	(14,136)	(25,857)
Net effect of derivative financial instruments held for interest risk management	1,439	(2,350)
Total interest rate sensitivity	25,253	7,163
Without interest rate risk
Assets
Cash and due from banks	3,349	7,886
Securities	0	0
Loans	0	0
Total	3,349	7,886
Liabilities
Demand deposits and time deposits	(10,322)	(4,697)
Securities sold under repurchase agreements	0	0
Borrowings and debt	0	0
Total	(10,322)	(4,697)
Net effect of derivative financial instruments held for interest risk management	0	0
Total interest rate sensitivity	$ (6,973)	$ 3,189

Financial risk review - Sche_18

Financial risk review - Schedule of Sensitivity Analysis of Fair Value Due to Change in Interest Rate. (Details) - Interest rate, measurement input - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Sensitivity to an increase or decrease in market interest rates
Increase in interest rate	0.50%	0.50%
Decrease in interest rate	0.50%	0.50%
Increase in income	$ 1,669	$ 4,559
Decrease in income	1,786	4,629
Increase in equity	3,881	2,904
Decrease in equity	2,861	1,808
Increase (decrease) in equity value	(9,047)	676
Increase (decrease) in equity value	$ 9,199	$ (206)

Financial risk review - Sche_19

Financial risk review - Schedule of Risk Arising from Financial Instruments (Details) $ in Thousands	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Assets
Cash and due from banks	$ 2,047,452	$ 1,241,586
Loans	7,195,567	6,763,020
Total	10,743,792	9,283,910	$ 8,038,111
Liabilities
Borrowings and debt	(4,351,988)	(4,416,511)	(3,304,178)	$ (1,966,271)
Total	(9,539,968)	(8,214,563)	$ (7,046,321)
Foreign exchange risk
Assets
Cash and due from banks	1,805	5,569
Loans	334,889	301,765
Total	336,694	307,334
Liabilities
Borrowings and debt	(335,991)	(306,603)
Total	(335,991)	(306,603)
Net currency position	$ 703	$ 731
Brazilian real | Foreign exchange risk
Exposure to currency risk
Exchange rate	4.85	5.29
Assets
Cash and due from banks	$ 10	$ 26
Loans	0	0
Total	10	26
Liabilities
Borrowings and debt	0	0
Total	0	0
Net currency position	$ 10	$ 26
European euro | Foreign exchange risk
Exposure to currency risk
Exchange rate	1.10	1.07
Assets
Cash and due from banks	$ 387	$ 53
Loans	30,360	0
Total	30,747	53
Liabilities
Borrowings and debt	(30,360)	0
Total	(30,360)	0
Net currency position	$ 387	$ 53
Japanese yen | Foreign exchange risk
Exposure to currency risk
Exchange rate	141	130.96
Assets
Cash and due from banks	$ 45	$ 4
Loans	0	0
Total	45	4
Liabilities
Borrowings and debt	0	0
Total	0	0
Net currency position	$ 45	$ 4
Colombian peso | Foreign exchange risk
Exposure to currency risk
Exchange rate	3,875.97	4,854.37
Assets
Cash and due from banks	$ 35	$ 9
Loans	0	0
Total	35	9
Liabilities
Borrowings and debt	0	0
Total	0	0
Net currency position	$ 35	$ 9
Mexican peso | Foreign exchange risk
Exposure to currency risk
Exchange rate	16.98	19.50
Assets
Cash and due from banks	$ 1,314	$ 5,439
Loans	304,529	301,765
Total	305,843	307,204
Liabilities
Borrowings and debt	(305,631)	(306,603)
Total	(305,631)	(306,603)
Net currency position	212	601
Other currencies | Foreign exchange risk
Assets
Cash and due from banks	14	38
Loans	0	0
Total	14	38
Liabilities
Borrowings and debt	0	0
Total	0	0
Net currency position	$ 14	$ 38

Fair value of financial instr_3

Fair value of financial instruments - Schedule of Financial Instruments Measured at Fair Value on a Recurring Basis by Caption on the Consolidated Statement of Financial Position Using the Fair Value Hierarchy (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Disclosure of Fair value of financial instruments [Line Items]
Derivative financial instruments - assets	$ 157,267	$ 68,159
Total assets at fair value	169,132	146,531
Derivative financial instruments - liabilities	40,613	33,761
Total liabilities at fair value	40,613	33,761
Level 1
Disclosure of Fair value of financial instruments [Line Items]
Derivative financial instruments - assets	0	0
Total assets at fair value	0	0
Derivative financial instruments - liabilities	0	0
Total liabilities at fair value	0	0
Level 2
Disclosure of Fair value of financial instruments [Line Items]
Derivative financial instruments - assets	157,267	68,159
Total assets at fair value	169,132	146,531
Derivative financial instruments - liabilities	40,613	33,761
Total liabilities at fair value	40,613	33,761
Level 3
Disclosure of Fair value of financial instruments [Line Items]
Derivative financial instruments - assets	0	0
Total assets at fair value	0	0
Derivative financial instruments - liabilities	0	0
Total liabilities at fair value	0	0
Interest rate swaps
Disclosure of Fair value of financial instruments [Line Items]
Derivative financial instruments - assets	11,358	483
Derivative financial instruments - liabilities	790	544
Interest rate swaps | Level 1
Disclosure of Fair value of financial instruments [Line Items]
Derivative financial instruments - assets	0	0
Derivative financial instruments - liabilities	0	0
Interest rate swaps | Level 2
Disclosure of Fair value of financial instruments [Line Items]
Derivative financial instruments - assets	11,358	483
Derivative financial instruments - liabilities	790	544
Interest rate swaps | Level 3
Disclosure of Fair value of financial instruments [Line Items]
Derivative financial instruments - assets	0	0
Derivative financial instruments - liabilities	0	0
Cross-currency swaps
Disclosure of Fair value of financial instruments [Line Items]
Derivative financial instruments - assets	145,909	45,806
Derivative financial instruments - liabilities	39,823	33,217
Cross-currency swaps | Level 1
Disclosure of Fair value of financial instruments [Line Items]
Derivative financial instruments - assets	0	0
Derivative financial instruments - liabilities	0	0
Cross-currency swaps | Level 2
Disclosure of Fair value of financial instruments [Line Items]
Derivative financial instruments - assets	145,909	45,806
Derivative financial instruments - liabilities	39,823	33,217
Cross-currency swaps | Level 3
Disclosure of Fair value of financial instruments [Line Items]
Derivative financial instruments - assets	0	0
Derivative financial instruments - liabilities	0	0
Foreign exchange forwards
Disclosure of Fair value of financial instruments [Line Items]
Derivative financial instruments - assets		21,870
Foreign exchange forwards | Level 1
Disclosure of Fair value of financial instruments [Line Items]
Derivative financial instruments - assets		0
Foreign exchange forwards | Level 2
Disclosure of Fair value of financial instruments [Line Items]
Derivative financial instruments - assets		21,870
Foreign exchange forwards | Level 3
Disclosure of Fair value of financial instruments [Line Items]
Derivative financial instruments - assets		0
Securities at FVOCI - Corporate debt
Disclosure of Fair value of financial instruments [Line Items]
Securities at FVOCI - Corporate debt	11,865	78,372
Securities at FVOCI - Corporate debt | Level 1
Disclosure of Fair value of financial instruments [Line Items]
Securities at FVOCI - Corporate debt	0	0
Securities at FVOCI - Corporate debt | Level 2
Disclosure of Fair value of financial instruments [Line Items]
Securities at FVOCI - Corporate debt	11,865	78,372
Securities at FVOCI - Corporate debt | Level 3
Disclosure of Fair value of financial instruments [Line Items]
Securities at FVOCI - Corporate debt	$ 0	$ 0

Fair value of financial instr_4

Fair value of financial instruments - Schedule of Carrying Value and an Estimated Fair Value of the Bank's Financial Instruments that are not Measured on a Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of Fair value of financial instruments [Line Items]
Cash and deposits in banks	$ 2,047,452	$ 1,241,586
Loans at amortized cost, net	7,220,520	6,760,434
Customers' liabilities under acceptances	261,428	163,345
Deposits	4,451,025	3,205,386
Securities sold under repurchase agreements	310,197	300,498	$ 427,498
Borrowings and debt, net	4,351,988	4,416,511	$ 3,304,178	$ 1,966,271
Acceptances outstanding	261,428	163,345
Commitments and financial guarantees issued
Disclosure of Fair value of financial instruments [Line Items]
Interest receivable	109,100	70,000
Allowance account for credit losses of financial assets	59,400	55,200
Unearned interest and deferred fees	24,700	17,300
Securities at amortized cost
Disclosure of Fair value of financial instruments [Line Items]
Interest receivable	12,400	11,200
Allowance account for credit losses of financial assets	1,600	8,000
Not measured at fair value in statement of financial position but for which fair value is disclosed
Disclosure of Fair value of financial instruments [Line Items]
Cash and deposits in banks	2,047,452	1,241,586
Securities at amortized cost	1,010,266	945,260
Loans at amortized cost, net	7,220,520	6,760,434
Customers' liabilities under acceptances	261,428	163,345
Deposits	4,451,025	3,205,386
Securities sold under repurchase agreements	310,197	300,498
Borrowings and debt, net	4,351,988	4,416,511
Acceptances outstanding	261,428	163,345
Fair value
Disclosure of Fair value of financial instruments [Line Items]
Cash and deposits in banks	2,047,452	1,241,586
Securities at amortized cost	997,341	895,154
Loans at amortized cost, net	7,267,429	6,785,652
Customers' liabilities under acceptances	261,428	163,345
Deposits	4,451,025	3,205,386
Securities sold under repurchase agreements	310,197	300,498
Borrowings and debt, net	4,357,271	4,389,902
Acceptances outstanding	261,428	163,345
Level 1 | Not measured at fair value in statement of financial position but for which fair value is disclosed
Disclosure of Fair value of financial instruments [Line Items]
Cash and deposits in banks	0	0
Securities at amortized cost	0	0
Loans at amortized cost, net	0	0
Customers' liabilities under acceptances	0	0
Deposits	0	0
Securities sold under repurchase agreements	0	0
Borrowings and debt, net	0	0
Acceptances outstanding	0	0
Level 2 | Not measured at fair value in statement of financial position but for which fair value is disclosed
Disclosure of Fair value of financial instruments [Line Items]
Cash and deposits in banks	2,047,452	1,241,586
Securities at amortized cost	997,341	894,034
Loans at amortized cost, net	7,267,429	6,785,652
Customers' liabilities under acceptances	261,428	163,345
Deposits	4,451,025	3,205,386
Securities sold under repurchase agreements	310,197	300,498
Borrowings and debt, net	4,357,271	4,389,902
Acceptances outstanding	261,428	163,345
Level 3 | Not measured at fair value in statement of financial position but for which fair value is disclosed
Disclosure of Fair value of financial instruments [Line Items]
Cash and deposits in banks	0	0
Securities at amortized cost	0	1,120
Loans at amortized cost, net	0	0
Customers' liabilities under acceptances	0	0
Deposits	0	0
Securities sold under repurchase agreements	0	0
Borrowings and debt, net	0	0
Acceptances outstanding	$ 0	$ 0

Cash and due from banks - Inter

Cash and due from banks - Interest Bearing Deposits (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash and due from banks
Unrestricted deposits with the Federal Reserve of the United States of America	$ 1,884,204	$ 1,144,896
Cash and non-interest-bearing deposits in other banks	3,349	7,886
Cash and interest-bearing deposits in other banks	159,899	88,804
Cash and due from banks	2,047,452	1,241,586
Less:
Time deposits with original maturity over 90 days and other restricted deposits	60,384	50,650
Total cash and due from banks in the consolidated statement of cash flows	$ 1,987,068	$ 1,190,936	$ 1,211,001	$ 846,008

Cash and due from banks - Break

Cash and due from banks - Breakdown of Pledged Deposits by Country Risk (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Disclosure of cash and cash equivalents [Line Items]
Total	$ 60,384	$ 50,650
Restricted deposit	18,000	10,000
United States of America
Disclosure of cash and cash equivalents [Line Items]
Total	20,700	11,387
Japan
Disclosure of cash and cash equivalents [Line Items]
Total	14,820	0
Switzerland
Disclosure of cash and cash equivalents [Line Items]
Total	13,747	16,797
Germany
Disclosure of cash and cash equivalents [Line Items]
Total	5,775	5,380
Canada
Disclosure of cash and cash equivalents [Line Items]
Total	5,342	0
Spain
Disclosure of cash and cash equivalents [Line Items]
Total	0	12,814
United Kingdom
Disclosure of cash and cash equivalents [Line Items]
Total	$ 0	$ 4,272

Securities - Schedule of All Se

Securities - Schedule of All Securities and Other Financial Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
IFRS Statement [Line Items]
Amortized cost	$ 1,010,266	$ 945,260
FVOCI	11,865	78,372
Total	1,022,131	1,023,632
Principal
IFRS Statement [Line Items]
Amortized cost	999,544	941,971
FVOCI	11,824	77,972
Total	1,011,368	1,019,943
Interest receivable
IFRS Statement [Line Items]
Amortized cost	12,354	11,240
FVOCI	41	400
Total	12,395	11,640
Allowance
IFRS Statement [Line Items]
Amortized cost	1,632	7,951
FVOCI	0	0
Total	1,632	7,951
Securities at amortized cost
IFRS Statement [Line Items]
Financial assets	11,824	77,972
Securities at amortized cost | Loss allowance
IFRS Statement [Line Items]
Financial assets	$ 1	$ 10	$ 26

Securities - Schedule of All _2

Securities - Schedule of All Securities and Other Financial Assets by Contractual Maturity (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
IFRS Statement [Line Items]
FVOCI	$ 11,865	$ 78,372
Total	1,022,131	1,023,632
Due within 1 year
IFRS Statement [Line Items]
Amortized cost	157,376	222,666
FVOCI	0	77,972
Total	157,376	300,638
After 1 year but within 5 years
IFRS Statement [Line Items]
Amortized cost	813,012	711,328
FVOCI	11,824	0
Total	824,836	711,328
After 5 years but within 10 years
IFRS Statement [Line Items]
Amortized cost	29,156	7,977
FVOCI	0	0
Total	29,156	7,977
Principal
IFRS Statement [Line Items]
Amortized cost	999,544	941,971
FVOCI	11,824	77,972
Total	$ 1,011,368	$ 1,019,943

Securities - Schedule of Securi

Securities - Schedule of Securities Pledge to Secure Repurchase Transactions (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
IFRS Statement [Line Items]
Securities sold under repurchase agreements	$ (310,197)	$ (300,498)	$ (427,498)
Financial assets at amortized cost, class
IFRS Statement [Line Items]
Securities pledged to secure repurchase transactions	342,271	345,187
Securities sold under repurchase agreements	$ (310,197)	$ (300,498)

Securities - Narrative (Details

Securities - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($)
Securities and other financial assets, net
Sales of investments at amortized cost	$ 63.5
Decrease through write-off, financial assets	7
Losses on sale	$ 3.9

Loans - Summary of Loan Portfol

Loans - Summary of Loan Portfolio According to Classification and Subsequent Measurement (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Disclosure of detailed information about financial instruments [line items]
Loans	$ 7,195,567	$ 6,763,020
Loans Portfolio
Disclosure of detailed information about financial instruments [line items]
Loans	7,195,567	6,763,020
Interest receivable	109,082	69,965
Loss allowance	(59,410)	(55,200)
Unearned interest and deferred fees	(24,719)	(17,351)
Loans, net	$ 7,220,520	$ 6,760,434

Loans - Schedule of Fixed and F

Loans - Schedule of Fixed and Floating Interest Rate Distribution of the Loan Portfolio (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Disclosure of detailed information about financial instruments [line items]
Loans, net	$ 7,220,520	$ 6,760,434
Carrying amount - principal
Disclosure of detailed information about financial instruments [line items]
Loans, net	7,195,567	6,763,020
At fixed interest rates
Disclosure of detailed information about financial instruments [line items]
Loans, net	3,828,485	3,827,083
At floating interest rates
Disclosure of detailed information about financial instruments [line items]
Loans, net	$ 3,367,082	$ 2,935,937

Loans - Narrative (Details)

Loans - Narrative (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
At fixed interest rates
Disclosure of detailed information about financial instruments [line items]
Percentage of loan portfolio at fixed interest rate maturing in not more than one hundred and eight days	71%	79%
Annual interest rate | Minimun of the year
Disclosure of detailed information about financial instruments [line items]
Interest rate fluctuations of loans at amortized cost, financial assets	1.95%	1.27%
Annual interest rate | Maximum of the year
Disclosure of detailed information about financial instruments [line items]
Interest rate fluctuations of loans at amortized cost, financial assets	16.01%	15.32%

Loans - Summary of Information

Loans - Summary of Information Related to Loans Granted to Shareholders (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disclosure of detailed information about financial instruments [line items]
Loans to class A and B shareholders	$ 7,220,520	$ 6,760,434
Class A and B shareholders
Disclosure of detailed information about financial instruments [line items]
Loans to class A and B shareholders	$ 397,300	$ 834,768
% Loans to class A and B shareholders over total loan portfolio	6%	12%
% Class A and B stockholders with loans over number of class A and B stockholders	10%	11%

Loan commitments and financia_3

Loan commitments and financial guarantees contracts - Schedule of Bank's Outstanding Loan Commitments and Financial Guarantee Contracts (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Disclosure of loans commitments and financial guarantees contracts [Line Items]
Loan commitments and financial guarantee contracts	$ 1,063,706	$ 779,374
Documentary letters of credit
Disclosure of loans commitments and financial guarantees contracts [Line Items]
Loan commitments and financial guarantee contracts	345,608	304,789
Stand-by letters of credit and guarantees - commercial risk
Disclosure of loans commitments and financial guarantees contracts [Line Items]
Loan commitments and financial guarantee contracts	490,626	351,625
Credit commitments
Disclosure of loans commitments and financial guarantees contracts [Line Items]
Loan commitments and financial guarantee contracts	$ 227,472	$ 122,960

Loan commitments and financia_4

Loan commitments and financial guarantees contracts - Schedule of Remaining Maturity Profile of the Bank's Outstanding Loan Commitments and Financial Guarantee Contracts (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Disclosure of loans commitments and financial guarantees contracts [Line Items]
Loan commitments and financial guarantee contracts	$ 1,063,706	$ 779,374
Due within 1 year
Disclosure of loans commitments and financial guarantees contracts [Line Items]
Loan commitments and financial guarantee contracts	901,716	693,650
From 1 year to 2 years
Disclosure of loans commitments and financial guarantees contracts [Line Items]
Loan commitments and financial guarantee contracts	84,581	15,956
Over 2 to 5 years
Disclosure of loans commitments and financial guarantees contracts [Line Items]
Loan commitments and financial guarantee contracts	$ 77,409	$ 69,768

Gain (loss) on financial inst_3

Gain (loss) on financial instruments, net - Schedule of Gain or Loss on Financial Instrument Recognized in the Consolidated Statements of Profit or Loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of detailed information about financial instruments [abstract]
Gain (loss) on derivative financial instruments and foreign currency exchange, net	$ 3,813	$ (1,920)	$ (1,870)
Unrealized gain on financial instruments at FVTPL	0	0	227
Realized gain on financial instruments at FVTPL	0	510	0
(Loss) gain on sale of financial instruments at amortized cost	(3,858)	0	333
Realized gain on financial instruments at FVOCI	0	0	14
Totals	$ (45)	$ (1,410)	$ (1,296)

Derivative financial instrume_3

Derivative financial instruments - Notional Amounts and Carrying Amounts of Derivatives (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Disclosure of detailed information about financial instruments [line items]
Notional amount	$ 2,665,436	$ 1,733,454
Derivative financial instruments - assets	157,267	68,159
Derivative financial instruments - liabilities	(40,613)	(33,761)
Fair value hedges
Disclosure of detailed information about financial instruments [line items]
Carrying amount of the hedging instruments, Asset	49,446	4,469
Carrying amount of the hedging instruments, Liability	(15,080)	(16,780)
Fair value hedges | Interest rate risk
Disclosure of detailed information about financial instruments [line items]
Notional amount	987,394	293,711
Carrying amount of the hedging instruments, Asset	11,358	340
Carrying amount of the hedging instruments, Liability	(790)	(543)
Fair value hedges | Interest rate and foreign exchange risk
Disclosure of detailed information about financial instruments [line items]
Notional amount	374,654	252,793
Carrying amount of the hedging instruments, Asset	38,088	4,129
Carrying amount of the hedging instruments, Liability	(14,290)	(16,237)
Cash flow hedges
Disclosure of detailed information about financial instruments [line items]
Carrying amount of the hedging instruments, Asset	107,821	63,690
Carrying amount of the hedging instruments, Liability	(25,533)	(16,981)
Cash flow hedges | Interest rate risk
Disclosure of detailed information about financial instruments [line items]
Notional amount		75,000
Carrying amount of the hedging instruments, Asset		143
Carrying amount of the hedging instruments, Liability		(1)
Cash flow hedges | Interest rate and foreign exchange risk
Disclosure of detailed information about financial instruments [line items]
Notional amount	1,303,388	922,777
Carrying amount of the hedging instruments, Asset	107,821	41,677
Carrying amount of the hedging instruments, Liability	$ (25,533)	(16,980)
Cash flow hedges | Foreign exchange risk
Disclosure of detailed information about financial instruments [line items]
Notional amount		189,173
Carrying amount of the hedging instruments, Asset		21,870
Carrying amount of the hedging instruments, Liability		$ 0

Derivative financial instrume_4

Derivative financial instruments - Schedule of Notional Amounts and Carrying Amounts of Derivative Instruments (Details) - Fair value hedges number in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Disclosure of detailed information about hedging instruments [line items]
Notional amount	1,362,048	546,504
Carrying amount of the hedging instruments, Asset	$ 49,446	$ 4,469
Carrying amount of the hedging instruments, Liability	(15,080)	(16,780)
Change in fair value used for calculating hedge ineffectiveness	42,240	6,162
Ineffectiveness recognised in profit or loss	3,247	(1,868)
Carrying amount of hedged items, Asset	20,719	168,629
Carrying amount of hedged items , Liability	(983,924)	(373,157)
Accumulated amount of fair value hedge adjustments included in the carrying amount of the hedged items	(24,061)	12,528
Changes in fair value of the hedged items used to calculate hedge ineffectiveness	(38,993)	(8,030)
Interest rate risk
Disclosure of detailed information about hedging instruments [line items]
Carrying amount of the hedging instruments, Asset	11,358	340
Carrying amount of the hedging instruments, Liability	$ (790)	$ (543)
Interest rate risk | Loans
Disclosure of detailed information about hedging instruments [line items]
Notional amount	10,000	155,511
Carrying amount of the hedging instruments, Asset	$ 0	$ 134
Carrying amount of the hedging instruments, Liability	(519)	(543)
Change in fair value used for calculating hedge ineffectiveness	(113)	1,607
Ineffectiveness recognised in profit or loss	7	(18)
Carrying amount of hedged items, Asset	10,664	157,136
Carrying amount of hedged items , Liability	0	0
Accumulated amount of fair value hedge adjustments included in the carrying amount of the hedged items	(136)	(1,625)
Changes in fair value of the hedged items used to calculate hedge ineffectiveness	$ 120	$ (1,625)
Interest rate risk | Securities at amortized cost
Disclosure of detailed information about hedging instruments [line items]
Notional amount	10,000	10,000
Carrying amount of the hedging instruments, Asset	$ 101	$ 178
Carrying amount of the hedging instruments, Liability	0	0
Change in fair value used for calculating hedge ineffectiveness	(109)	167
Ineffectiveness recognised in profit or loss	144	(62)
Carrying amount of hedged items, Asset	10,055	9,654
Carrying amount of hedged items , Liability	0	0
Accumulated amount of fair value hedge adjustments included in the carrying amount of the hedged items	26	(229)
Changes in fair value of the hedged items used to calculate hedge ineffectiveness	$ 253	$ (229)
Interest rate risk | Deposits
Disclosure of detailed information about hedging instruments [line items]
Notional amount	307,000
Carrying amount of the hedging instruments, Asset	$ 3,564
Carrying amount of the hedging instruments, Liability	0
Change in fair value used for calculating hedge ineffectiveness	600
Ineffectiveness recognised in profit or loss	12
Carrying amount of hedged items, Asset	0
Carrying amount of hedged items , Liability	(236,942)
Accumulated amount of fair value hedge adjustments included in the carrying amount of the hedged items	(588)
Changes in fair value of the hedged items used to calculate hedge ineffectiveness	$ (588)
Interest rate risk | Borrowings and debt
Disclosure of detailed information about hedging instruments [line items]
Notional amount	660,394	128,200
Carrying amount of the hedging instruments, Asset	$ 7,693	$ 28
Carrying amount of the hedging instruments, Liability	(271)	0
Change in fair value used for calculating hedge ineffectiveness	5,152	(3,457)
Ineffectiveness recognised in profit or loss	176	(111)
Carrying amount of hedged items, Asset	0	0
Carrying amount of hedged items , Liability	(344,605)	(129,306)
Accumulated amount of fair value hedge adjustments included in the carrying amount of the hedged items	(1,626)	3,350
Changes in fair value of the hedged items used to calculate hedge ineffectiveness	(4,976)	3,346
Interest rate and foreign exchange risk
Disclosure of detailed information about hedging instruments [line items]
Carrying amount of the hedging instruments, Asset	38,088	4,129
Carrying amount of the hedging instruments, Liability	$ (14,290)	$ (16,237)
Interest rate and foreign exchange risk | Loans
Disclosure of detailed information about hedging instruments [line items]
Notional amount		1,938
Carrying amount of the hedging instruments, Asset		$ 108
Carrying amount of the hedging instruments, Liability		0
Change in fair value used for calculating hedge ineffectiveness		(227)
Ineffectiveness recognised in profit or loss		(129)
Carrying amount of hedged items, Asset		1,839
Carrying amount of hedged items , Liability		0
Accumulated amount of fair value hedge adjustments included in the carrying amount of the hedged items		(580)
Changes in fair value of the hedged items used to calculate hedge ineffectiveness		$ 98
Interest rate and foreign exchange risk | Borrowings and debt
Disclosure of detailed information about hedging instruments [line items]
Notional amount	374,654	250,855
Carrying amount of the hedging instruments, Asset	$ 38,088	$ 4,021
Carrying amount of the hedging instruments, Liability	(14,290)	(16,237)
Change in fair value used for calculating hedge ineffectiveness	36,710	8,072
Ineffectiveness recognised in profit or loss	2,908	(1,548)
Carrying amount of hedged items, Asset	0	0
Carrying amount of hedged items , Liability	(402,377)	(243,851)
Accumulated amount of fair value hedge adjustments included in the carrying amount of the hedged items	(21,737)	11,612
Changes in fair value of the hedged items used to calculate hedge ineffectiveness	$ (33,802)	$ (9,620)

Derivative financial instrume_5

Derivative financial instruments - Schedule of Maturity of Financial Instruments (Details) - Fair value hedges - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Disclosure of detailed information about hedging instruments [line items]
Total	$ 1,362,048	$ 546,504
Due within 1 year
Disclosure of detailed information about hedging instruments [line items]
Total	670,393	147,448
Over 1 to 2 years
Disclosure of detailed information about hedging instruments [line items]
Total	50,263	173,415
Over 2 to 5 years
Disclosure of detailed information about hedging instruments [line items]
Total	604,867	215,516
More than 5 years
Disclosure of detailed information about hedging instruments [line items]
Total	36,525	10,125
Interest rate and foreign exchange risk
Disclosure of detailed information about hedging instruments [line items]
Total	374,654	252,793
Interest rate and foreign exchange risk | Due within 1 year
Disclosure of detailed information about hedging instruments [line items]
Total	235,973	1,937
Interest rate and foreign exchange risk | Over 1 to 2 years
Disclosure of detailed information about hedging instruments [line items]
Total	0	153,415
Interest rate and foreign exchange risk | Over 2 to 5 years
Disclosure of detailed information about hedging instruments [line items]
Total	128,556	87,316
Interest rate and foreign exchange risk | More than 5 years
Disclosure of detailed information about hedging instruments [line items]
Total	10,125	10,125
Interest rate swaps
Disclosure of detailed information about hedging instruments [line items]
Total	987,394	293,711
Interest rate swaps | Due within 1 year
Disclosure of detailed information about hedging instruments [line items]
Total	434,420	145,511
Interest rate swaps | Over 1 to 2 years
Disclosure of detailed information about hedging instruments [line items]
Total	50,263	20,000
Interest rate swaps | Over 2 to 5 years
Disclosure of detailed information about hedging instruments [line items]
Total	476,311	128,200
Interest rate swaps | More than 5 years
Disclosure of detailed information about hedging instruments [line items]
Total	$ 26,400	$ 0

Derivative financial instrume_6

Derivative financial instruments - Schedule of Ineffectiveness Recognized in Profit (Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Fair value hedges
Disclosure of detailed information about financial instruments [line items]
Ineffectiveness recognised in profit or loss	$ 3,247	$ (1,868)
Fair value hedges | Current
Disclosure of detailed information about financial instruments [line items]
Ineffectiveness recognised in profit or loss	3,247	(3,101)
Fair value hedges | Overdue
Disclosure of detailed information about financial instruments [line items]
Ineffectiveness recognised in profit or loss	(19)	1,233
Fair value hedges | Total
Disclosure of detailed information about financial instruments [line items]
Ineffectiveness recognised in profit or loss	3,228	(1,868)
Cash flow hedges
Disclosure of detailed information about financial instruments [line items]
Ineffectiveness recognised in profit or loss	281	(1,149)
Cash flow hedges | Current
Disclosure of detailed information about financial instruments [line items]
Ineffectiveness recognised in profit or loss	281	(472)
Cash flow hedges | Overdue
Disclosure of detailed information about financial instruments [line items]
Ineffectiveness recognised in profit or loss	(483)	(677)
Cash flow hedges | Total
Disclosure of detailed information about financial instruments [line items]
Ineffectiveness recognised in profit or loss	(202)	(1,149)
Loans | Fair value hedges | Interest rate risk
Disclosure of detailed information about financial instruments [line items]
Ineffectiveness recognised in profit or loss	7	(18)
Loans | Fair value hedges | Interest rate risk | Current
Disclosure of detailed information about financial instruments [line items]
Ineffectiveness recognised in profit or loss	7	(18)
Loans | Fair value hedges | Interest rate risk | Overdue
Disclosure of detailed information about financial instruments [line items]
Ineffectiveness recognised in profit or loss	7	0
Loans | Fair value hedges | Interest rate risk | Total
Disclosure of detailed information about financial instruments [line items]
Ineffectiveness recognised in profit or loss	14	(18)
Loans | Fair value hedges | Interest rate and foreign exchange risk
Disclosure of detailed information about financial instruments [line items]
Ineffectiveness recognised in profit or loss		(129)
Loans | Fair value hedges | Interest rate and foreign exchange risk | Current
Disclosure of detailed information about financial instruments [line items]
Ineffectiveness recognised in profit or loss	0	(129)
Loans | Fair value hedges | Interest rate and foreign exchange risk | Overdue
Disclosure of detailed information about financial instruments [line items]
Ineffectiveness recognised in profit or loss	(26)	0
Loans | Fair value hedges | Interest rate and foreign exchange risk | Total
Disclosure of detailed information about financial instruments [line items]
Ineffectiveness recognised in profit or loss	(26)	(129)
Securities at amortized cost | Fair value hedges | Interest rate risk
Disclosure of detailed information about financial instruments [line items]
Ineffectiveness recognised in profit or loss	144	(62)
Securities at amortized cost | Fair value hedges | Interest rate risk | Current
Disclosure of detailed information about financial instruments [line items]
Ineffectiveness recognised in profit or loss	144	(62)
Securities at amortized cost | Fair value hedges | Interest rate risk | Overdue
Disclosure of detailed information about financial instruments [line items]
Ineffectiveness recognised in profit or loss	0	0
Securities at amortized cost | Fair value hedges | Interest rate risk | Total
Disclosure of detailed information about financial instruments [line items]
Ineffectiveness recognised in profit or loss	144	(62)
Deposits | Fair value hedges | Interest rate risk
Disclosure of detailed information about financial instruments [line items]
Ineffectiveness recognised in profit or loss	12
Deposits | Fair value hedges | Interest rate risk | Current
Disclosure of detailed information about financial instruments [line items]
Ineffectiveness recognised in profit or loss	12
Deposits | Fair value hedges | Interest rate risk | Overdue
Disclosure of detailed information about financial instruments [line items]
Ineffectiveness recognised in profit or loss	0
Deposits | Fair value hedges | Interest rate risk | Total
Disclosure of detailed information about financial instruments [line items]
Ineffectiveness recognised in profit or loss	12
Deposits | Cash flow hedges | Foreign exchange risk
Disclosure of detailed information about financial instruments [line items]
Ineffectiveness recognised in profit or loss	0	0
Deposits | Cash flow hedges | Foreign exchange risk | Current
Disclosure of detailed information about financial instruments [line items]
Ineffectiveness recognised in profit or loss	0
Deposits | Cash flow hedges | Foreign exchange risk | Overdue
Disclosure of detailed information about financial instruments [line items]
Ineffectiveness recognised in profit or loss	57
Deposits | Cash flow hedges | Foreign exchange risk | Total
Disclosure of detailed information about financial instruments [line items]
Ineffectiveness recognised in profit or loss	57
Borrowings and debt | Fair value hedges | Interest rate risk
Disclosure of detailed information about financial instruments [line items]
Ineffectiveness recognised in profit or loss	176	(111)
Borrowings and debt | Fair value hedges | Interest rate risk | Current
Disclosure of detailed information about financial instruments [line items]
Ineffectiveness recognised in profit or loss	176	(117)
Borrowings and debt | Fair value hedges | Interest rate risk | Overdue
Disclosure of detailed information about financial instruments [line items]
Ineffectiveness recognised in profit or loss	0	6
Borrowings and debt | Fair value hedges | Interest rate risk | Total
Disclosure of detailed information about financial instruments [line items]
Ineffectiveness recognised in profit or loss	176	(111)
Borrowings and debt | Fair value hedges | Interest rate and foreign exchange risk
Disclosure of detailed information about financial instruments [line items]
Ineffectiveness recognised in profit or loss	2,908	(1,548)
Borrowings and debt | Fair value hedges | Interest rate and foreign exchange risk | Current
Disclosure of detailed information about financial instruments [line items]
Ineffectiveness recognised in profit or loss	2,908	(2,775)
Borrowings and debt | Fair value hedges | Interest rate and foreign exchange risk | Overdue
Disclosure of detailed information about financial instruments [line items]
Ineffectiveness recognised in profit or loss	0	1,227
Borrowings and debt | Fair value hedges | Interest rate and foreign exchange risk | Total
Disclosure of detailed information about financial instruments [line items]
Ineffectiveness recognised in profit or loss	2,908	(1,548)
Borrowings and debt | Cash flow hedges | Current
Disclosure of detailed information about financial instruments [line items]
Ineffectiveness recognised in profit or loss		(473)
Borrowings and debt | Cash flow hedges | Overdue
Disclosure of detailed information about financial instruments [line items]
Ineffectiveness recognised in profit or loss		(677)
Borrowings and debt | Cash flow hedges | Total
Disclosure of detailed information about financial instruments [line items]
Ineffectiveness recognised in profit or loss		(1,150)
Borrowings and debt | Cash flow hedges | Interest rate risk
Disclosure of detailed information about financial instruments [line items]
Ineffectiveness recognised in profit or loss		1
Borrowings and debt | Cash flow hedges | Interest rate risk | Current
Disclosure of detailed information about financial instruments [line items]
Ineffectiveness recognised in profit or loss		1
Borrowings and debt | Cash flow hedges | Interest rate risk | Overdue
Disclosure of detailed information about financial instruments [line items]
Ineffectiveness recognised in profit or loss		0
Borrowings and debt | Cash flow hedges | Interest rate risk | Total
Disclosure of detailed information about financial instruments [line items]
Ineffectiveness recognised in profit or loss		1
Borrowings and debt | Cash flow hedges | Interest rate and foreign exchange risk
Disclosure of detailed information about financial instruments [line items]
Ineffectiveness recognised in profit or loss	281	(1,150)
Borrowings and debt | Cash flow hedges | Interest rate and foreign exchange risk | Current
Disclosure of detailed information about financial instruments [line items]
Ineffectiveness recognised in profit or loss	281
Borrowings and debt | Cash flow hedges | Interest rate and foreign exchange risk | Overdue
Disclosure of detailed information about financial instruments [line items]
Ineffectiveness recognised in profit or loss	(682)
Borrowings and debt | Cash flow hedges | Interest rate and foreign exchange risk | Total
Disclosure of detailed information about financial instruments [line items]
Ineffectiveness recognised in profit or loss	(401)
Borrowings and debt | Cash flow hedges | Foreign exchange risk
Disclosure of detailed information about financial instruments [line items]
Ineffectiveness recognised in profit or loss	0	$ 0
Borrowings and debt | Cash flow hedges | Foreign exchange risk | Current
Disclosure of detailed information about financial instruments [line items]
Ineffectiveness recognised in profit or loss	0
Borrowings and debt | Cash flow hedges | Foreign exchange risk | Overdue
Disclosure of detailed information about financial instruments [line items]
Ineffectiveness recognised in profit or loss	142
Borrowings and debt | Cash flow hedges | Foreign exchange risk | Total
Disclosure of detailed information about financial instruments [line items]
Ineffectiveness recognised in profit or loss	$ 142

Derivative financial instrume_7

Derivative financial instruments - Narrative (Details)	12 Months Ended
	Dec. 31, 2023
Derivative financial instruments
Description of duration of hedging, financial assets	6 years

Derivative financial Instrume_8

Derivative financial Instruments - Schedule of Carrying Amounts of Derivative Instruments (Details) - Cash flow hedges - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disclosure of detailed information about hedging instruments [line items]
Notional amount	1,303,388	1,186,950
Carrying amount of the hedging instruments, Asset	$ 107,821	$ 63,690
Carrying amount of the hedging instruments, Liability	(25,533)	(16,981)
Change in fair value used for calculating hedge ineffectiveness	65,005	50,631
Changes in the fair value of the hedging instrument recognised in OCI	65,286	49,482
Ineffectiveness recognised in profit or loss	281	(1,149)
Amount reclassified from the hedge reserve to profit or loss	(483)	(4,914)
Carrying amount of hedged items, Asset	0	0
Carrying amount of hedged items , liabilities	(1,398,323)	(1,224,849)
Changes in the fair value of the hedged items used to calculate the hedge ineffectiveness	(65,005)	(49,482)
Cash flow hedge reserve	(7,458)	(7,141)
Interest rate risk
Disclosure of detailed information about hedging instruments [line items]
Carrying amount of the hedging instruments, Asset		143
Carrying amount of the hedging instruments, Liability		$ (1)
Interest rate risk | Borrowings and debt
Disclosure of detailed information about hedging instruments [line items]
Notional amount		75,000
Carrying amount of the hedging instruments, Asset		$ 143
Carrying amount of the hedging instruments, Liability		(1)
Change in fair value used for calculating hedge ineffectiveness		550
Changes in the fair value of the hedging instrument recognised in OCI		551
Ineffectiveness recognised in profit or loss		1
Amount reclassified from the hedge reserve to profit or loss		0
Carrying amount of hedged items, Asset		0
Carrying amount of hedged items , liabilities		(75,695)
Changes in the fair value of the hedged items used to calculate the hedge ineffectiveness		(551)
Cash flow hedge reserve		(97)
Interest rate and foreign exchange risk
Disclosure of detailed information about hedging instruments [line items]
Carrying amount of the hedging instruments, Asset	107,821	41,677
Carrying amount of the hedging instruments, Liability	$ (25,533)	$ (16,980)
Interest rate and foreign exchange risk | Borrowings and debt
Disclosure of detailed information about hedging instruments [line items]
Notional amount	1,303,388	922,777
Carrying amount of the hedging instruments, Asset	$ 107,821	$ 41,677
Carrying amount of the hedging instruments, Liability	(25,533)	(16,980)
Change in fair value used for calculating hedge ineffectiveness	65,005	28,211
Changes in the fair value of the hedging instrument recognised in OCI	65,286	27,061
Ineffectiveness recognised in profit or loss	281	(1,150)
Amount reclassified from the hedge reserve to profit or loss	(682)	(4,914)
Carrying amount of hedged items, Asset	0	0
Carrying amount of hedged items , liabilities	(1,398,323)	(943,942)
Changes in the fair value of the hedged items used to calculate the hedge ineffectiveness	(65,005)	(27,061)
Cash flow hedge reserve	$ (7,458)	(8,836)
Foreign exchange risk
Disclosure of detailed information about hedging instruments [line items]
Carrying amount of the hedging instruments, Asset		21,870
Carrying amount of the hedging instruments, Liability		$ 0
Foreign exchange risk | Borrowings and debt
Disclosure of detailed information about hedging instruments [line items]
Notional amount	0	180,639
Carrying amount of the hedging instruments, Asset	$ 0	$ 21,833
Carrying amount of the hedging instruments, Liability	0	0
Change in fair value used for calculating hedge ineffectiveness	0	21,833
Changes in the fair value of the hedging instrument recognised in OCI	0	21,833
Ineffectiveness recognised in profit or loss	0	0
Amount reclassified from the hedge reserve to profit or loss	$ 142	0
Carrying amount of hedged items, Asset		0
Carrying amount of hedged items , liabilities		(196,646)
Changes in the fair value of the hedged items used to calculate the hedge ineffectiveness		(21,833)
Cash flow hedge reserve		$ 1,836
Foreign exchange risk | Deposits
Disclosure of detailed information about hedging instruments [line items]
Notional amount	0	8,534
Carrying amount of the hedging instruments, Asset	$ 0	$ 37
Carrying amount of the hedging instruments, Liability	0	0
Change in fair value used for calculating hedge ineffectiveness	0	37
Changes in the fair value of the hedging instrument recognised in OCI	0	37
Ineffectiveness recognised in profit or loss	0	0
Amount reclassified from the hedge reserve to profit or loss	$ 57	0
Carrying amount of hedged items, Asset		0
Carrying amount of hedged items , liabilities		(8,566)
Changes in the fair value of the hedged items used to calculate the hedge ineffectiveness		(37)
Cash flow hedge reserve		$ (44)

Derivative financial Instrume_9

Derivative financial Instruments - Schedule of Maturity of Financial Instruments (Details) - Cash flow hedges - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disclosure of detailed information about hedging instruments [line items]
Total	$ 1,303,388	$ 1,186,950
Due within 1 year
Disclosure of detailed information about hedging instruments [line items]
Total	643,464	652,208
Over 1 to 2 years
Disclosure of detailed information about hedging instruments [line items]
Total	206,496	194,639
Over 2 to 5 years
Disclosure of detailed information about hedging instruments [line items]
Total	409,742	322,817
More than 5 years
Disclosure of detailed information about hedging instruments [line items]
Total	43,686	17,286
Foreign exchange risk
Disclosure of detailed information about hedging instruments [line items]
Total	0	189,173
Foreign exchange risk | Due within 1 year
Disclosure of detailed information about hedging instruments [line items]
Total	0	189,173
Foreign exchange risk | Over 1 to 2 years
Disclosure of detailed information about hedging instruments [line items]
Total	0	0
Foreign exchange risk | Over 2 to 5 years
Disclosure of detailed information about hedging instruments [line items]
Total	0	0
Foreign exchange risk | More than 5 years
Disclosure of detailed information about hedging instruments [line items]
Total	0	0
Interest rate and foreign exchange risk
Disclosure of detailed information about hedging instruments [line items]
Total	1,303,388	922,777
Interest rate and foreign exchange risk | Due within 1 year
Disclosure of detailed information about hedging instruments [line items]
Total	643,464	388,035
Interest rate and foreign exchange risk | Over 1 to 2 years
Disclosure of detailed information about hedging instruments [line items]
Total	206,496	194,639
Interest rate and foreign exchange risk | Over 2 to 5 years
Disclosure of detailed information about hedging instruments [line items]
Total	409,742	322,817
Interest rate and foreign exchange risk | More than 5 years
Disclosure of detailed information about hedging instruments [line items]
Total	43,686	17,286
Interest rate swaps
Disclosure of detailed information about hedging instruments [line items]
Total	0	75,000
Interest rate swaps | Due within 1 year
Disclosure of detailed information about hedging instruments [line items]
Total	0	75,000
Interest rate swaps | Over 1 to 2 years
Disclosure of detailed information about hedging instruments [line items]
Total	0	0
Interest rate swaps | Over 2 to 5 years
Disclosure of detailed information about hedging instruments [line items]
Total	0	0
Interest rate swaps | More than 5 years
Disclosure of detailed information about hedging instruments [line items]
Total	$ 0	$ 0

Gain (loss) on non - financia_3

Gain (loss) on non - financial assets, net - Schedule of Impairment Losses on Non-Financial Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Gain (loss) on non - financial assets, net
Gain on investment property - Right-of-use	$ 0	$ 0	$ 742

Gain (loss) on non - financia_4

Gain (loss) on non - financial assets, net - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Gain (loss) on non - financial assets, net
Gains on disposals of investment properties	$ 0	$ 0	$ 742

Equipment and leasehold impro_3

Equipment and leasehold improvements - Summary of Items Include in Equipment and Leasehold Improvement (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Disclosure of detailed information about property, plant and equipment [line items]
Equipment and leasehold improvements, net	$ 16,794	$ 17,282
Equipment and leasehold improvements, net
Disclosure of detailed information about property, plant and equipment [line items]
Equipment and leasehold improvements, net	4,041	4,441
Right-of-use assets
Disclosure of detailed information about property, plant and equipment [line items]
Equipment and leasehold improvements, net	$ 12,753	$ 12,841

Equipment and leasehold impro_4

Equipment and leasehold improvements - Schedule of Breakdown of Cost, Accumulated Depreciation, Additions and Disposals of Equipment and Leasehold Improvements (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of loans commitments and financial guarantees contracts [Line Items]
Beginning balance	$ 17,282
Ending balance	16,794	$ 17,282
Equipment and leasehold improvements, net
Disclosure of loans commitments and financial guarantees contracts [Line Items]
Beginning balance	4,441	3,841
Ending balance	4,041	4,441	$ 3,841
IT equipment
Disclosure of loans commitments and financial guarantees contracts [Line Items]
Beginning balance	799	630
Ending balance	717	799	630
Furniture and fixtures
Disclosure of loans commitments and financial guarantees contracts [Line Items]
Beginning balance	172	39
Ending balance	212	172	39
Leasehold improvements
Disclosure of loans commitments and financial guarantees contracts [Line Items]
Beginning balance	3,395	3,075
Ending balance	2,930	3,395	3,075
Other equipment
Disclosure of loans commitments and financial guarantees contracts [Line Items]
Beginning balance	75	97
Ending balance	182	75	97
Carrying amount - principal
Disclosure of loans commitments and financial guarantees contracts [Line Items]
Beginning balance	14,767	14,290	15,813
Additions	761	1,651	453
Disposals	(277)	(1,182)	(1,967)
Effect of changes in exchange rates	13	8	(10)
Reclassifications			1
Ending balance	15,264	14,767	14,290
Carrying amount - principal | IT equipment
Disclosure of loans commitments and financial guarantees contracts [Line Items]
Beginning balance	3,941	4,476	4,136
Additions	369	599	402
Disposals	(28)	(1,136)	(58)
Effect of changes in exchange rates	5	2	(5)
Reclassifications			1
Ending balance	4,287	3,941	4,476
Carrying amount - principal | Furniture and fixtures
Disclosure of loans commitments and financial guarantees contracts [Line Items]
Beginning balance	1,808	1,677	1,677
Additions	92	165	4
Disposals	(83)	(36)	(3)
Effect of changes in exchange rates	3	2	(1)
Reclassifications			0
Ending balance	1,820	1,808	1,677
Carrying amount - principal | Leasehold improvements
Disclosure of loans commitments and financial guarantees contracts [Line Items]
Beginning balance	8,301	7,450	7,428
Additions	124	852	26
Disposals	(117)	(4)	0
Effect of changes in exchange rates	5	3	(4)
Reclassifications			0
Ending balance	8,313	8,301	7,450
Carrying amount - principal | Other equipment
Disclosure of loans commitments and financial guarantees contracts [Line Items]
Beginning balance	717	687	2,572
Additions	176	35	21
Disposals	(49)	(6)	(1,906)
Effect of changes in exchange rates	0	1	0
Reclassifications			0
Ending balance	844	717	687
Accumulated amortization:
Disclosure of loans commitments and financial guarantees contracts [Line Items]
Beginning balance	10,326	10,449	10,823
Amortization	1,161	1,050	1,346
Disposals	(274)	(1,176)	(1,712)
Effect of changes in exchange rates	10	3	(9)
Reclassifications			1
Ending balance	11,223	10,326	10,449
Accumulated amortization: | IT equipment
Disclosure of loans commitments and financial guarantees contracts [Line Items]
Beginning balance	3,142	3,846	3,340
Amortization	449	430	566
Disposals	(25)	(1,133)	(57)
Effect of changes in exchange rates	4	(1)	(3)
Reclassifications			0
Ending balance	3,570	3,142	3,846
Accumulated amortization: | Furniture and fixtures
Disclosure of loans commitments and financial guarantees contracts [Line Items]
Beginning balance	1,636	1,638	1,601
Amortization	54	32	41
Disposals	(83)	(35)	(3)
Effect of changes in exchange rates	1	1	(2)
Reclassifications			1
Ending balance	1,608	1,636	1,638
Accumulated amortization: | Leasehold improvements
Disclosure of loans commitments and financial guarantees contracts [Line Items]
Beginning balance	4,906	4,375	3,830
Amortization	589	531	549
Disposals	(117)	(4)	0
Effect of changes in exchange rates	5	4	(4)
Reclassifications			0
Ending balance	5,383	4,906	4,375
Accumulated amortization: | Other equipment
Disclosure of loans commitments and financial guarantees contracts [Line Items]
Beginning balance	642	590	2,052
Amortization	69	57	190
Disposals	(49)	(4)	(1,652)
Effect of changes in exchange rates	0	(1)	0
Reclassifications			0
Ending balance	$ 662	$ 642	$ 590

Equipment and leasehold impro_5

Equipment and leasehold improvements - Schedule of Movement of Right-of-Use Assets on the Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Main office space
Disclosure of initial application of standards or interpretations [line items]
Lease term	15 years
Representative office | Minimun of the year
Disclosure of initial application of standards or interpretations [line items]
Lease term	3 years
Representative office | Maximum of the year
Disclosure of initial application of standards or interpretations [line items]
Lease term	5 years
IFRS 16 | Increase (decrease) due to changes in accounting policy required by IFRSs | Buildings
Disclosure of initial application of standards or interpretations [line items]
Initial balance	$ 12,841	$ 13,938
Additions	1,388	7
Depreciation of right-of-use assets	(1,119)	(1,104)
Decrease	(357)	0
Ending balance	$ 12,753	$ 12,841

Intangible assets - Schedule of

Intangible assets - Schedule of Breakdown of Software Cost, Accumulated Amortization, Additions, Sales and Disposals for Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Reconciliation of changes in intangible assets other than goodwill [abstract]
Beginning balance	$ 2,104	$ 1,595
Ending balance	2,605	2,104	$ 1,595
Carrying amount - principal
Reconciliation of changes in intangible assets other than goodwill [abstract]
Beginning balance	10,856	9,786	15,711
Additions	1,335	1,070	353
Disposals	(150)		(6,278)
Ending balance	12,041	10,856	9,786
Accumulated amortization:
Reconciliation of changes in intangible assets other than goodwill [abstract]
Beginning balance	8,752	8,191	13,727
Disposals	(130)		(6,278)
Amortization	814	561	742
Ending balance	$ 9,436	$ 8,752	$ 8,191

Other assets - Schedule of Othe

Other assets - Schedule of Other Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Other Assets1 [Abstract]
Accounts receivable financial instruments	$ 4,844	$ 961
Prepaid expenses	2,174	1,120
Prepaid fees and commissions	451	325
Interest receivable - deposits	1,603	751
IT projects under development	1,802	425
Improvement Project Under Development	396	0
Severance fund	2,169	2,026
Other	2,156	1,760
Other assets	$ 15,595	$ 7,368

Deposits - Schedule of Maturity

Deposits - Schedule of Maturity Profile of the Bank's Deposits, Excluding Interest Payable (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Disclosure of deposits from customers [Line Items]
Remaining Term	$ 4,408,149	$ 3,190,716
Original Term	4,408,149	3,190,716
Demand
Disclosure of deposits from customers [Line Items]
Remaining Term	510,195	233,756
Original Term	510,195	233,757
Up to 1 month
Disclosure of deposits from customers [Line Items]
Remaining Term	2,026,454	1,630,484
Original Term	1,336,379	999,043
From 1 month to 3 months
Disclosure of deposits from customers [Line Items]
Remaining Term	704,765	887,232
Original Term	758,728	969,960
From 3 month to 6 months
Disclosure of deposits from customers [Line Items]
Remaining Term	517,359	250,300
Original Term	675,106	385,972
From 6 month to 1 year
Disclosure of deposits from customers [Line Items]
Remaining Term	570,033	153,862
Original Term	892,221	554,402
From 1 year to 2 years
Disclosure of deposits from customers [Line Items]
Remaining Term	77,843	18,787
Original Term	216,430	31,287
From 2 years to 5 years
Disclosure of deposits from customers [Line Items]
Remaining Term	1,500	16,295
Original Term	$ 19,090	$ 16,295

Deposits - Schedule of Addition

Deposits - Schedule of Additional Information Regarding the Bank's Deposits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Deposits
Aggregate amount of $100,000 or more	$ 4,407,608	$ 3,190,376
Aggregate amount of deposits in the New York Agency	1,250,524	526,474
Interest expense on deposits made in the New York Agency	$ 53,885	$ 12,334	$ 3,852

Securities sold under repurch_3

Securities sold under repurchase agreements - Summary of Financing Transactions (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Securities sold under repurchase agreements
Financing transactions under repurchase agreements	$ 310,197	$ 300,498	$ 427,498
Interest expense related to financing transactions	$ 9,232	$ 7,340	$ 956

Borrowings and debt - Narrative

Borrowings and debt - Narrative (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)
Panama Revolving Corporate Bond Program
Disclosure of short term borrowings [Line Items]
Maximum borrowing capacity	$ 300,000
Euro Medium Term Note Program
Disclosure of short term borrowings [Line Items]
Maximum borrowing capacity	$ 2,250
Euro Medium Term Note Program | Minimun of the year
Disclosure of short term borrowings [Line Items]
Maturity term	7 days
Euro Medium Term Note Program | Maximum of the year
Disclosure of short term borrowings [Line Items]
Maturity term	30 years
Certificados Bursatiles Program
Disclosure of short term borrowings [Line Items]
Aggregate principal amount	$ 25,000,000
Certificados Bursatiles Program | Minimun of the year
Disclosure of short term borrowings [Line Items]
Maturity term	1 day
Certificados Bursatiles Program | Maximum of the year
Disclosure of short term borrowings [Line Items]
Maturity term	30 years

Borrowings and debt - Schedule

Borrowings and debt - Schedule of Borrowings and Debt (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Borrowings and debts
Short-term, borrowings	$ (1,638,044)	$ (2,151,975)
Short-term, debt	86,561	42,250
Long-term, borrowings	535,871	647,323
Long-term debt	2,091,512	1,574,963
Total	4,351,988	4,416,511
Principal
Borrowings and debts
Short-term, borrowings	(1,638,306)	(2,153,351)
Short-term, debt	86,601	42,255
Long-term, borrowings	537,775	650,275
Long-term debt	2,097,820	1,580,727
Total	4,360,502	4,426,608
Transaction costs
Borrowings and debts
Short-term, borrowings	(262)	(1,376)
Short-term, debt	(40)	(5)
Long-term, borrowings	(1,904)	(2,952)
Long-term debt	(6,308)	(5,764)
Total	$ (8,514)	$ (10,097)

Borrowings and debt - Schedul_2

Borrowings and debt - Schedule of Short-Term Borrowings and Debt, Along with Contractual Interest Rates (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Borrowings and debts
Principal	$ 1,638,044	$ 2,151,975
Less: Transaction costs	86,561	42,250
Total short-term borrowings and debt	1,724,907	2,195,606
US dollar
Borrowings and debts
Total short-term borrowings and debt	1,084,872	1,593,531
Mexican peso
Borrowings and debts
Total short-term borrowings and debt	576,527	405,830
Euro
Borrowings and debts
Total short-term borrowings and debt	63,508	0
Japanese yen
Borrowings and debts
Total short-term borrowings and debt	0	196,245
Short-term borrowings
Borrowings and debts
Principal	1,638,044	2,151,975
Short-term borrowings | Short-term borrowings
Borrowings and debts
Principal	1,638,306	2,153,351
Short Term Debt
Borrowings and debts
Principal	86,601	42,255
Total short-term borrowings and debt	86,561	42,250
Short Term Borrowings And Debt
Borrowings and debts
Total short-term borrowings and debt	1,724,605	2,194,225
At fixed interest rates | Short-term borrowings
Borrowings and debts
Principal	732,336	1,584,776
At fixed interest rates | Short Term Debt
Borrowings and debts
Principal	$ 1,536	0
At fixed interest rates | Short Term Borrowings And Debt | Japanese yen
Borrowings and debts
Borrowings, interest rate	0%
At floating interest rates | Short-term borrowings
Borrowings and debts
Principal	$ 905,970	568,575
Less: Transaction costs	(262)	(1,376)
At floating interest rates | Short Term Debt
Borrowings and debts
Principal	85,065	42,255
Less: Transaction costs	$ (40)	$ (5)
At floating interest rates | Short Term Borrowings And Debt | Euro
Borrowings and debts
Borrowings, interest rate		0%
Minimun of the year | At fixed interest rates | Short Term Borrowings And Debt | US dollar
Borrowings and debts
Borrowings, interest rate	5.44%	1.53%
Minimun of the year | At fixed interest rates | Short Term Borrowings And Debt | Japanese yen
Borrowings and debts
Borrowings, interest rate		0.84%
Minimun of the year | At floating interest rates | Short-term borrowings | US dollar
Borrowings and debts
Borrowings, interest rate	6.08%	4.90%
Minimun of the year | At floating interest rates | Short Term Borrowings And Debt | Mexican peso
Borrowings and debts
Borrowings, interest rate	11.77%	10.97%
Minimun of the year | At floating interest rates | Short Term Borrowings And Debt | Euro
Borrowings and debts
Borrowings, interest rate	4.51%
Maximum of the year | At fixed interest rates | Short Term Borrowings And Debt | US dollar
Borrowings and debts
Borrowings, interest rate	6.50%	6.52%
Maximum of the year | At fixed interest rates | Short Term Borrowings And Debt | Japanese yen
Borrowings and debts
Borrowings, interest rate		1.23%
Maximum of the year | At floating interest rates | Short-term borrowings | US dollar
Borrowings and debts
Borrowings, interest rate	6.33%	5.72%
Maximum of the year | At floating interest rates | Short Term Borrowings And Debt | Mexican peso
Borrowings and debts
Borrowings, interest rate	12.65%	12%
Maximum of the year | At floating interest rates | Short Term Borrowings And Debt | Euro
Borrowings and debts
Borrowings, interest rate	4.69%

Borrowings and debt - Schedul_3

Borrowings and debt - Schedule of Breakdown of Borrowings and Long-Term Debt (Original Maturity of More than One Year), Along with Contractual Interest Rates, Plus Prepaid Commissions (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Disclosure of long-term borrowings [Line Items]
Less: Transaction costs	$ 2,635,595	$ 2,231,002
US dollar
Disclosure of long-term borrowings [Line Items]
Less: Transaction costs	1,149,021	1,155,275
Mexican peso
Disclosure of long-term borrowings [Line Items]
Less: Transaction costs	1,241,023	845,867
Japanese yen
Disclosure of long-term borrowings [Line Items]
Less: Transaction costs	113,642	76,513
Euro
Disclosure of long-term borrowings [Line Items]
Less: Transaction costs	88,018	111,095
Australian dollar
Disclosure of long-term borrowings [Line Items]
Less: Transaction costs	27,286	26,968
Sterling pound
Disclosure of long-term borrowings [Line Items]
Less: Transaction costs	4,716	4,464
Swiss franc
Disclosure of long-term borrowings [Line Items]
Less: Transaction costs	11,889	10,820
Borrowings and debt
Disclosure of long-term borrowings [Line Items]
Principal	537,775	650,275
Less: Transaction costs	(1,904)	(2,952)
Total long-term debt, net	535,871	647,323
Long Term Debt
Disclosure of long-term borrowings [Line Items]
Principal	2,097,820	1,580,727
Less: Transaction costs	(6,308)	(5,764)
Total long-term debt, net	2,091,512	1,574,963
Long Term Borrowings And Debt
Disclosure of long-term borrowings [Line Items]
Total long-term borrowings and debt, net	2,627,383	2,222,286
At fixed interest rates | Borrowings and debt
Disclosure of long-term borrowings [Line Items]
Principal	0	75,000
At fixed interest rates | Long Term Debt
Disclosure of long-term borrowings [Line Items]
Principal	$ 1,456,290	$ 1,136,743
At fixed interest rates | Long Term Borrowings And Debt | Sterling pound
Disclosure of long-term borrowings [Line Items]
Debt interest rate	1.50%	1.50%
At fixed interest rates | Long Term Borrowings And Debt | Swiss franc
Disclosure of long-term borrowings [Line Items]
Debt interest rate	0.35%	0.35%
At floating interest rates | Borrowings and debt
Disclosure of long-term borrowings [Line Items]
Principal	$ 537,775	$ 575,275
At floating interest rates | Long Term Debt
Disclosure of long-term borrowings [Line Items]
Principal	$ 641,530	$ 443,984
Minimun of the year | At fixed interest rates | Long Term Borrowings And Debt | US dollar
Disclosure of long-term borrowings [Line Items]
Debt interest rate	1.35%	0.80%
Minimun of the year | At fixed interest rates | Long Term Borrowings And Debt | Mexican peso
Disclosure of long-term borrowings [Line Items]
Debt interest rate	6.50%	6.50%
Minimun of the year | At fixed interest rates | Long Term Borrowings And Debt | Japanese yen
Disclosure of long-term borrowings [Line Items]
Debt interest rate	0.40%	0.40%
Minimun of the year | At fixed interest rates | Long Term Borrowings And Debt | Euro
Disclosure of long-term borrowings [Line Items]
Debt interest rate	0.90%	0.23%
Minimun of the year | At fixed interest rates | Long Term Borrowings And Debt | Australian dollar
Disclosure of long-term borrowings [Line Items]
Debt interest rate	1.41%	1.41%
Minimun of the year | At floating interest rates | Long Term Borrowings And Debt | US dollar
Disclosure of long-term borrowings [Line Items]
Debt interest rate	6.32%	4.96%
Minimun of the year | At floating interest rates | Long Term Borrowings And Debt | Mexican peso
Disclosure of long-term borrowings [Line Items]
Debt interest rate	11.70%	10.55%
Maximum of the year | At fixed interest rates | Long Term Borrowings And Debt | US dollar
Disclosure of long-term borrowings [Line Items]
Debt interest rate	6.15%	5.81%
Maximum of the year | At fixed interest rates | Long Term Borrowings And Debt | Mexican peso
Disclosure of long-term borrowings [Line Items]
Debt interest rate	10.78%	9.20%
Maximum of the year | At fixed interest rates | Long Term Borrowings And Debt | Japanese yen
Disclosure of long-term borrowings [Line Items]
Debt interest rate	1.35%	1.27%
Maximum of the year | At fixed interest rates | Long Term Borrowings And Debt | Euro
Disclosure of long-term borrowings [Line Items]
Debt interest rate	3.75%	3.75%
Maximum of the year | At fixed interest rates | Long Term Borrowings And Debt | Australian dollar
Disclosure of long-term borrowings [Line Items]
Debt interest rate	6.81%	6.81%
Maximum of the year | At floating interest rates | Long Term Borrowings And Debt | US dollar
Disclosure of long-term borrowings [Line Items]
Debt interest rate	7.31%	6.04%
Maximum of the year | At floating interest rates | Long Term Borrowings And Debt | Mexican peso
Disclosure of long-term borrowings [Line Items]
Debt interest rate	11.95%	10.93%

Borrowings and debt - Schedul_4

Borrowings and debt - Schedule of Future Payments of Long-Term Borrowings and Debt Outstanding (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Disclosure of Long term borrowings Terms [Line Items]
Carrying amount - principal	$ 2,635,595	$ 2,231,002
2024
Disclosure of Long term borrowings Terms [Line Items]
Carrying amount - principal	637,998
2025
Disclosure of Long term borrowings Terms [Line Items]
Carrying amount - principal	1,005,496
2026
Disclosure of Long term borrowings Terms [Line Items]
Carrying amount - principal	516,223
2027
Disclosure of Long term borrowings Terms [Line Items]
Carrying amount - principal	311,123
2028
Disclosure of Long term borrowings Terms [Line Items]
Carrying amount - principal	112,345
2029
Disclosure of Long term borrowings Terms [Line Items]
Carrying amount - principal	42,162
2034
Disclosure of Long term borrowings Terms [Line Items]
Carrying amount - principal	$ 10,248

Borrowings and debt - Schedul_5

Borrowings and debt - Schedule of Reconciliation of Movements of Borrowings and Debt Arising Financing Activities Explanatory (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Reconciliation Of Movements Of Borrowings And Debt [Roll Forward]
Balance as of January 1	$ 4,416,511	$ 3,304,178	$ 1,966,271
Net (decrease) increase in short-term borrowings and debt	(500,650)	579,065	1,196,710
Proceeds from long-term borrowings and debt	496,342	1,038,110	266,640
Payments of long-term borrowings and debt	(221,306)	(536,792)	(97,520)
Change in foreign currency rates	157,440	45,460	(27,528)
Fair value adjustment due to hedge accounting relationship	2,126	(9,334)	(2,034)
Other adjustments	1,525	(4,176)	1,639
Balance as of December 31	$ 4,351,988	$ 4,416,511	$ 3,304,178

Lease liabilities - Maturity of

Lease liabilities - Maturity of Lease Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of detailed information about financial instruments [line items]
Total undiscounted lease liabilities	$ 20,625	$ 21,046
Short-term	1,143	965
Long-term	15,564	15,780
Lease liabilities	16,707	16,745
Payment of lease liabilities	1,032	995	$ 1,227
Overdue
Disclosure of detailed information about financial instruments [line items]
Total undiscounted lease liabilities	1,717	1,506
After 1 year but within 5 years
Disclosure of detailed information about financial instruments [line items]
Total undiscounted lease liabilities	6,540	7,210
After 5 years but within 10 years
Disclosure of detailed information about financial instruments [line items]
Total undiscounted lease liabilities	$ 12,368	$ 12,330

Other liabilities - Schedule of

Other liabilities - Schedule of Other Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Other Liabilities1 [Abstract]
Accruals and other accumulated expenses	$ 24,120	$ 16,812
Funds received for debt repayment	14,735	0
Accounts payable	5,143	7,269
Unearned commissions	9,652	2,646
Other	84	84
Total	$ 53,734	$ 26,811

Earnings per share - Schedule o

Earnings per share - Schedule of Reconciliation Profit and Share Data Used in the Basic and Diluted Earnings per Share ("EPS") Computations (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Earnings per share
Profit for the year	$ 166,158	$ 92,040	$ 62,697
Basic earnings per share (in dollars per share)	$ 4.55	$ 2.54	$ 1.62
Diluted earnings per share (in dollars per share)	$ 4.55	$ 2.54	$ 1.62
Weighted average of common shares outstanding applicable to basic EPS (in shares)	36,481	36,304	38,796
Weighted average of common shares outstanding applicable to diluted EPS (in shares)	36,481	36,304	38,796

Capital and Reserves - Common S

Capital and Reserves - Common Stock and Additional Paid-In Capital (Details) - shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of share capital, reserves and other equity interest [Line Items]
Number of shares authorized (in shares)	280,000,000
Beginning balance (in shares)	36,324,556	36,231,146	39,677,940
Conversion of shares (in shares)			0
Repurchased common stock (in shares)			(3,558,093)
Restricted shares issued, directors (in shares)	63,000	57,000	63,000
Restricted shares vested (in shares)	152,305	36,410	48,299
Ending balance (in shares)	36,539,861	36,324,556	36,231,146
“Class A”
Disclosure of share capital, reserves and other equity interest [Line Items]
Number of shares authorized (in shares)	40,000,000
Beginning balance (in shares)	6,342,189	6,342,189	6,342,189
Conversion of shares (in shares)			0
Repurchased common stock (in shares)			0
Restricted shares issued, directors (in shares)	0	0	0
Restricted shares vested (in shares)	0	0	0
Ending balance (in shares)	6,342,189	6,342,189	6,342,189
“Class B”
Disclosure of share capital, reserves and other equity interest [Line Items]
Number of shares authorized (in shares)	40,000,000
Beginning balance (in shares)	2,089,075	2,089,075	2,178,365
Conversion of shares (in shares)			(89,290)
Repurchased common stock (in shares)			0
Restricted shares issued, directors (in shares)	0	0	0
Restricted shares vested (in shares)	0	0	0
Ending balance (in shares)	2,089,075	2,089,075	2,089,075
“Class E”
Disclosure of share capital, reserves and other equity interest [Line Items]
Number of shares authorized (in shares)	100,000,000
Beginning balance (in shares)	27,893,292	27,799,882	31,157,386
Conversion of shares (in shares)			89,290
Repurchased common stock (in shares)			(3,558,093)
Restricted shares issued, directors (in shares)	63,000	57,000	63,000
Restricted shares vested (in shares)	152,305	36,410	48,299
Ending balance (in shares)	28,108,597	27,893,292	27,799,882
“Class F”
Disclosure of share capital, reserves and other equity interest [Line Items]
Number of shares authorized (in shares)	100,000,000
Beginning balance (in shares)	0	0	0
Conversion of shares (in shares)			0
Repurchased common stock (in shares)			0
Restricted shares issued, directors (in shares)	0	0	0
Restricted shares vested (in shares)	0	0	0
Ending balance (in shares)	0	0	0

Capital and Reserves - Treasury

Capital and Reserves - Treasury Stock (Details) - USD ($) $ in Thousands	1 Months Ended	8 Months Ended	12 Months Ended
	May 31, 2021	Dec. 31, 2021	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of share capital, reserves and other equity interest [Line Items]
Beginning balance (in shares)			36,324,556	36,231,146	39,677,940
Beginning balance			$ 114,097
Ending balance (in shares)		36,231,146	36,539,861	36,324,556	36,231,146
Ending balance			$ 110,174	$ 114,097
Treasury stock
Disclosure of share capital, reserves and other equity interest [Line Items]
Beginning balance (in shares)			5,655,281	5,748,691	2,301,897
Beginning balance			$ 114,097	$ 115,799	$ 57,999
Repurchase of common stock (in shares)					3,558,093
Repurchase of common stock					$ 60,079
Restricted stock issued - directors (in shares)			(63,000)	(57,000)	(63,000)
Restricted stock issued - directors			$ (1,148)	$ (1,039)	$ (1,391)
Restricted stock units - vested (in shares)			(152,305)	(36,410)	(48,299)
Restricted stock units - vested			$ (2,775)	$ (663)	$ (888)
Ending balance (in shares)		5,748,691	5,439,976	5,655,281	5,748,691
Ending balance		$ 115,799	$ 110,174	$ 114,097	$ 115,799
“Class A” | Treasury stock
Disclosure of share capital, reserves and other equity interest [Line Items]
Beginning balance (in shares)			318,140	318,140	318,140
Beginning balance			$ 10,708	$ 10,708	$ 10,708
Repurchase of common stock (in shares)					0
Repurchase of common stock					$ 0
Restricted stock issued - directors (in shares)			0	0	0
Restricted stock issued - directors			$ 0	$ 0	$ 0
Restricted stock units - vested (in shares)			0	0	0
Restricted stock units - vested			$ 0	$ 0	$ 0
Ending balance (in shares)		318,140	318,140	318,140	318,140
Ending balance		$ 10,708	$ 10,708	$ 10,708	$ 10,708
“Class B” | Treasury stock
Disclosure of share capital, reserves and other equity interest [Line Items]
Beginning balance (in shares)			689,367	689,367	689,367
Beginning balance			$ 18,711	$ 18,711	$ 18,711
Repurchase of common stock (in shares)					0
Repurchase of common stock					$ 0
Restricted stock issued - directors (in shares)			0	0	0
Restricted stock issued - directors			$ 0	$ 0	$ 0
Restricted stock units - vested (in shares)			0	0	0
Restricted stock units - vested			$ 0	$ 0	$ 0
Ending balance (in shares)		689,367	689,367	689,367	689,367
Ending balance		$ 18,711	$ 18,711	$ 18,711	$ 18,711
“Class E” | Treasury stock
Disclosure of share capital, reserves and other equity interest [Line Items]
Beginning balance (in shares)			4,647,774	4,741,184	1,294,390
Beginning balance			$ 84,678	$ 86,380	$ 28,580
Repurchase of common stock (in shares)		3,558,093			3,558,093
Repurchase of common stock	$ 60,000				$ 60,079
Restricted stock issued - directors (in shares)			(63,000)	(57,000)	(63,000)
Restricted stock issued - directors			$ (1,148)	$ (1,039)	$ (1,391)
Restricted stock units - vested (in shares)			(152,305)	(36,410)	(48,299)
Restricted stock units - vested			$ (2,775)	$ (663)	$ (888)
Ending balance (in shares)		4,741,184	4,432,469	4,647,774	4,741,184
Ending balance		$ 86,380	$ 80,755	$ 84,678	$ 86,380

Capital and Reserves - Narrativ

Capital and Reserves - Narrative (Details) - Treasury stock - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	8 Months Ended	12 Months Ended
	May 31, 2021	Dec. 31, 2021	Dec. 31, 2021
Disclosure of share capital, reserves and other equity interest [Line Items]
Repurchase of common stock			$ 60,079
Repurchase of common stock (in shares)			3,558,093
“Class E”
Disclosure of share capital, reserves and other equity interest [Line Items]
Repurchase of common stock	$ 60,000		$ 60,079
Repurchase of common stock (in shares)		3,558,093	3,558,093
Weighted average share price		$ 16.86

Other comprehensive income - Sc

Other comprehensive income - Schedule of Breakdown of Other Comprehensive Income (Loss) Relating to Financial Instruments at FVOCI, Derivative Financial Instruments, and Foreign Currency Translation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement [Line Items]
Beginning balance	$ 8,125	$ (11,548)	$ 208
Change in fair value on financial instruments, net of hedging	286	19,613	(12,252)
Reclassification of gains (losses) on financial instruments to profit or loss	(949)	60	48
Exchange difference in conversion of foreign currency operation			448
Other comprehensive income (loss) for the year	(663)	19,673	(11,756)
Ending balance	7,462	8,125	(11,548)
Financial instruments FVOCI
Statement [Line Items]
Beginning balance	(862)	(395)	141
Change in fair value on financial instruments, net of hedging	876	(467)	(560)
Reclassification of gains (losses) on financial instruments to profit or loss	(11)	0	24
Exchange difference in conversion of foreign currency operation			0
Other comprehensive income (loss) for the year	865	(467)	(536)
Ending balance	3	(862)	(395)
Financial Instruments CFH
Statement [Line Items]
Beginning balance	8,987	(11,153)	515
Change in fair value on financial instruments, net of hedging	(590)	20,080	(11,692)
Reclassification of gains (losses) on financial instruments to profit or loss	(938)	60	24
Exchange difference in conversion of foreign currency operation			0
Other comprehensive income (loss) for the year	(1,528)	20,140	(11,668)
Ending balance	7,459	8,987	(11,153)
Foreign currency translation adjustment
Statement [Line Items]
Beginning balance	0	0	(448)
Change in fair value on financial instruments, net of hedging	0	0	0
Reclassification of gains (losses) on financial instruments to profit or loss	0	0	0
Exchange difference in conversion of foreign currency operation			448
Other comprehensive income (loss) for the year	0	0	448
Ending balance	$ 0	$ 0	$ 0

Other comprehensive income - _2

Other comprehensive income - Schedule of Amounts Reclassified from Other Comprehensive Income to Profit or Loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of Accumulated other comprehensive income loss [Line Items]
Foreign exchange forwards, interest expense - borrowings and deposits	$ (219,219)	$ (110,647)	$ (39,489)
Derivative financial instruments, Amounts reclassified from other comprehensive income	(11,865)	(78,372)
Financial instruments FVOCI
Disclosure of Accumulated other comprehensive income loss [Line Items]
Securities at FVOCI, Net gain (loss) on financial instruments	0	0	41
Securities at FVOCI, Provision for credit losses	(11)	0	(17)
Securities at FVOCI, Amounts reclassified from other comprehensive income	(11)	0	24
Financial Instruments CFH
Disclosure of Accumulated other comprehensive income loss [Line Items]
Foreign exchange forwards, Interest income - loans	0	(433)	(2,167)
Foreign exchange forwards, interest expense - borrowings and deposits	4,877	1,851	0
Foreign exchange forwards, Gain (loss) on financial instruments, net	(1,793)	0	24
Interest rate and cross-currency swaps, Gain (loss) on financial instruments, net	855	60	0
Derivative financial instruments, Amounts reclassified from other comprehensive income	$ 3,939	$ 1,478	$ (2,143)

Fee and commission income - Sch

Fee and commission income - Schedule of fees and commission income from contracts with customers broken down by main types of services according to the scope of IFRS 15 (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement [Line Items]
Fee and commission income (expense)	$ 32,519	$ 19,791	$ 18,298
Structured loans
Statement [Line Items]
Fee and commission income (expense)	7,427	4,926	4,269
Documentary and stand-by letters of credit
Statement [Line Items]
Fee and commission income (expense)	20,844	14,033	12,119
Other
Statement [Line Items]
Fee and commission income (expense)	$ 4,248	$ 832	$ 1,910

Fee and commission income - S_2

Fee and commission income - Schedule of ordinary income that is expected to be recognized on the contracts in force (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Statement [Line Items]
Ordinary income expected to be recognized on the contracts	$ 8,284
Current
Statement [Line Items]
Ordinary income expected to be recognized on the contracts	4,553
From 1 to 2 years
Statement [Line Items]
Ordinary income expected to be recognized on the contracts	1,370
More than 2 years
Statement [Line Items]
Ordinary income expected to be recognized on the contracts	$ 2,361

Business segment information -

Business segment information - Schedule of certain information regarding the bank's operations by segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of Reporting Segment [Line Items]
Interest income	$ 679,260	$ 332,621	$ 140,883
Interest expense	(446,077)	(184,610)	(54,101)
Inter-segment net interest income	0	0	0
Net interest income	233,183	148,011	86,782
Other income (expense), net	32,936	18,661	17,424
Total revenues	266,119	166,672	104,206
Provision for credit losses	(27,463)	(19,521)	(2,328)
Gain on non-financial assets, net			742
Operating expenses	(72,498)	(55,111)	(39,923)
Segment profit (loss)	166,158	92,040	62,697
Segment assets	10,743,792	9,283,910	8,038,111
Total liabilities	9,539,968	8,214,563	7,046,321
Reportable segments
Disclosure of Reporting Segment [Line Items]
Segment profit (loss)	166,158	92,040	62,697
Segment assets	10,729,764	9,277,293	8,029,693
Total liabilities	9,486,234	8,187,752	7,031,960
Commercial
Disclosure of Reporting Segment [Line Items]
Interest income	566,212	289,785	129,758
Interest expense	(467)	(463)	(648)
Inter-segment net interest income	(361,997)	(155,968)	(45,318)
Net interest income	203,748	133,354	83,792
Other income (expense), net	33,792	20,809	19,188
Total revenues	237,540	154,163	102,980
Provision for credit losses	(26,785)	(13,376)	(1,050)
Gain on non-financial assets, net			742
Operating expenses	(57,324)	(43,156)	(30,751)
Commercial | Reportable segments
Disclosure of Reporting Segment [Line Items]
Segment profit (loss)	153,431	97,631	71,921
Segment assets	7,498,230	6,940,335	5,931,201
Total liabilities	279,853	180,369	219,505
Treasury
Disclosure of Reporting Segment [Line Items]
Interest income	113,048	42,836	11,125
Interest expense	(445,610)	(184,147)	(53,453)
Inter-segment net interest income	361,997	155,968	45,318
Net interest income	29,435	14,657	2,990
Other income (expense), net	(856)	(2,148)	(1,764)
Total revenues	28,579	12,509	1,226
Provision for credit losses	(678)	(6,145)	(1,278)
Gain on non-financial assets, net			0
Operating expenses	(15,174)	(11,955)	(9,172)
Treasury | Reportable segments
Disclosure of Reporting Segment [Line Items]
Segment profit (loss)	12,727	(5,591)	(9,224)
Segment assets	3,231,534	2,336,958	2,098,492
Total liabilities	$ 9,206,381	$ 8,007,383	$ 6,812,455

Business segment information _2

Business segment information - Schedule of reconciliation of information on reportable segments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of Reporting Segment [Line Items]
Profit for the year	$ 166,158	$ 92,040	$ 62,697
Total	10,743,792	9,283,910	8,038,111
Other assets - unallocated	15,595	7,368
Liabilities:	9,539,968	8,214,563	7,046,321
Other liabilities - unallocated	53,734	26,811
Reportable segments
Disclosure of Reporting Segment [Line Items]
Profit for the year	166,158	92,040	62,697
Total	10,729,764	9,277,293	8,029,693
Liabilities:	9,486,234	8,187,752	7,031,960
Unallocated amounts
Disclosure of Reporting Segment [Line Items]
Other assets - unallocated	14,028	6,617	8,418
Other liabilities - unallocated	$ 53,734	$ 26,811	$ 14,361

Business segment information _3

Business segment information - Schedule of geographic information analyses the bank's revenue and non-current assets by the bank's country (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of Reporting Segment [Line Items]
Revenue	$ 266,119	$ 166,672	$ 104,206
Non-current assets	19,399	19,386	19,374
Argentina
Disclosure of Reporting Segment [Line Items]
Revenue	4,748	4,721	5,454
Non-current assets	80	117	157
Brazil
Disclosure of Reporting Segment [Line Items]
Revenue	25,630	15,100	9,802
Non-current assets	292	125	138
Chile
Disclosure of Reporting Segment [Line Items]
Revenue	11,273	8,072	3,180
Non-current assets	0	0	0
Colombia
Disclosure of Reporting Segment [Line Items]
Revenue	32,584	16,192	12,116
Non-current assets	181	35	51
Costa Rica
Disclosure of Reporting Segment [Line Items]
Revenue	10,358	9,161	7,674
Non-current assets	0	0	0
Dominican Republic
Disclosure of Reporting Segment [Line Items]
Revenue	20,164	9,325	3,424
Non-current assets	0	0	0
Ecuador
Disclosure of Reporting Segment [Line Items]
Revenue	15,107	12,576	8,990
Non-current assets	0	0	0
El Salvador
Disclosure of Reporting Segment [Line Items]
Revenue	2,209	2,297	1,207
Non-current assets	0	0	0
Guatemala
Disclosure of Reporting Segment [Line Items]
Revenue	24,061	16,961	10,862
Non-current assets	0	0	0
Honduras
Disclosure of Reporting Segment [Line Items]
Revenue	6,312	6,081	841
Non-current assets	0	0	0
Jamaica
Disclosure of Reporting Segment [Line Items]
Revenue	3,337	2,525	1,646
Non-current assets	0	0	0
Mexico
Disclosure of Reporting Segment [Line Items]
Revenue	35,442	24,767	17,318
Non-current assets	400	14	75
Panama
Disclosure of Reporting Segment [Line Items]
Revenue	6,753	6,015	5,872
Non-current assets	18,119	18,994	18,795
Paraguay
Disclosure of Reporting Segment [Line Items]
Revenue	2,734	2,488	1,529
Non-current assets	0	0	0
Peru
Disclosure of Reporting Segment [Line Items]
Revenue	20,501	8,733	3,299
Non-current assets	0	0	0
Trinidad and Tobago
Disclosure of Reporting Segment [Line Items]
Revenue	6,832	6,330	7,215
Non-current assets	0	0	0
Uruguay
Disclosure of Reporting Segment [Line Items]
Revenue	1,208	1,533	540
Non-current assets	0	0	0
Other
Disclosure of Reporting Segment [Line Items]
Revenue	36,866	13,795	3,237
Non-current assets	$ 327	$ 101	$ 158

Related party transactions - Sc

Related party transactions - Schedule of assets and liabilities with related private corporations and financial institutions (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Assets
Loans, net	$ 7,220,520	$ 6,760,434
Total assets	10,743,792	9,283,910	$ 8,038,111
Liabilities
Time deposits	3,897,954	2,956,959
Total liabilities	9,539,968	8,214,563	$ 7,046,321
Related parties
Assets
Demand deposits	2,263	5,986
Loans, net	61,440	242,024
Securities at amortized cost, net	14,373	19,593
Total assets	78,076	267,603
Liabilities
Time deposits	319,344	567,451
Total liabilities	319,344	567,451
Stand-by letters of credit	150	3,350
Loss allowance	$ 0	$ (16)

Related party transactions - _2

Related party transactions - Schedule of income and expenses with related parties (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Interest income:
Loans	$ 566,212	$ 289,785	$ 129,758
Total interest income	679,260	332,621	140,883
Interest expense:
Deposits	(217,042)	(66,044)	(12,846)
Total interest expense	(446,077)	(184,610)	(54,101)
Net interest income	233,183	148,011	86,782
Other income (expense):
Fees and commissions, net	32,519	19,791	18,298
Total other income, net	32,936	18,661	17,424
Segment profit (loss)	166,158	92,040	62,697
Related parties
Interest income:
Loans	3,104	4,719	211
Securities at amortized cost, net	331	685	0
Total interest income	3,435	5,404	211
Interest expense:
Deposits	(14,477)	(10,943)	(1,866)
Net interest income	(11,042)	(5,539)	(1,655)
Other income (expense):
Fees and commissions, net	427	116	216
Loss on financial instruments, net	0	74	0
Total other income, net	427	190	216
Segment profit (loss)	$ (10,615)	$ (5,349)	$ (1,439)

Related party transactions - _3

Related party transactions - Schedule of reporting periods, total compensation paid to directors and the executives of bladex (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Related party transactions
Compensation costs to directors	$ 1,910	$ 1,853	$ 1,877
Compensation costs to executives	$ 8,067	$ 4,302	$ 4,083

Salaries and other employee e_3

Salaries and other employee expenses - Schedule of salaries and other employee expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Salaries and other employee expenses
Wages and salaries	$ 20,837	$ 18,135	$ 13,803
Payroll taxes	2,809	2,196	1,731
Personnel benefits	19,047	12,344	5,134
Share-based payments	4,539	1,544	984
Total	$ 47,232	$ 34,219	$ 21,652

Salaries and other employee e_4

Salaries and other employee expenses - Narrative (Details)	1 Months Ended	12 Months Ended
	Feb. 29, 2008 shares	Dec. 31, 2023 USD ($) shares	Dec. 31, 2022 USD ($) shares	Dec. 31, 2021 USD ($) shares
Disclosure Of Sharebased Payment Arrangements [Line Items]
Restricted shares, charged against income		$ 474,000	$ 354,000	$ 401,000
Restricted shares to directors		931,000	895,000	924,000
Cost pending amortization		$ 821,000
Duration of amortization of restricted cash		2 years 3 months 29 days
Vested shares, fair value		$ 730,000	1,800,000	949,000
Percentage of vesting of restricted share		25%
Amortization cost, restricted shares		$ 2,400,000	749,000	984,000
Weighted average fair value at measurement date, share options vested		2,400,000	581,000	838,000
Balance outstanding, restricted shares		$ 1,600,000
Duration of amortization of restricted cash		2 years 2 months 1 day
Provision of restricted stock units		$ 1,700,000
Wages and salaries		$ 20,837,000	$ 18,135,000	$ 13,803,000
“Class E”
Disclosure Of Sharebased Payment Arrangements [Line Items]
Granted (in shares)		63,000	57,000	63,000
Key management personnel of entity or parent
Disclosure Of Sharebased Payment Arrangements [Line Items]
Value of granted restricted share options		$ 4,600,000	$ 822,000	$ 1,000,000
Wages and salaries		58,000	62,000	67,000
Maximum of the year | Key management personnel of entity or parent | “Class E”
Disclosure Of Sharebased Payment Arrangements [Line Items]
Number of shares to be granted | shares	3,000,000
Restricted Stocks
Disclosure Of Sharebased Payment Arrangements [Line Items]
Fair value, restricted shares granted		$ 1,100,000	$ 835,000	$ 923,000
Restricted Stocks | Key management personnel of entity or parent
Disclosure Of Sharebased Payment Arrangements [Line Items]
Granted (in shares) | shares		298,951	63,056	75,796
share-based payment arrangements, Tranche two | Restricted Stocks
Disclosure Of Sharebased Payment Arrangements [Line Items]
Percent of award vesting rights for share-based payment arrangement		35%
share-based payment arrangements, Tranche three | Restricted Stocks
Disclosure Of Sharebased Payment Arrangements [Line Items]
Percent of award vesting rights for share-based payment arrangement		30%

Salaries and other employee e_5

Salaries and other employee expenses - Schedule of restricted stock granted to directors (Details) - Restricted Stocks - Directors	12 Months Ended
	Dec. 31, 2023 shares $ / shares	Dec. 31, 2022 shares $ / shares	Dec. 31, 2021 shares $ / shares
Disclosure Of Sharebased Payment Arrangements [Line Items]
Number of shares, outstanding at beginning (in shares)	105,450	145,800	132,150
Granted (in shares)	63,000	57,000	63,000
Vested (in shares)	(53,100)	(97,350)	(49,350)
Number of shares, outstanding at end (in shares)	115,350	105,450	145,800
Expected to vest (in shares)	115,350
Weighted average grant date fair value, expected to vest (in usd per share) | $ / shares	$ 14.15	$ 16.64	$ 18.56
Granted (in usd per share) | $ / shares	17.69	14.65	14.65
Vested (in usd per share) | $ / shares	13.75	18.71	19.24
Weighted average grant date fair value, expected to vest (in usd per share) | $ / shares	$ 16.31	$ 14.15	$ 16.64

Salaries and other employee e_6

Salaries and other employee expenses - Schedule of restricted stock units granted to certain executives (Details) - Restricted Stocks $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) shares $ / shares	Dec. 31, 2022 shares $ / shares	Dec. 31, 2021 shares $ / shares
Disclosure Of Sharebased Payment Arrangements [Line Items]
Aggregate intrinsic value, outstanding | $	$ 2,769
Aggregate intrinsic value, expected to vest | $	$ 2,769
Key management personnel of entity or parent
Disclosure Of Sharebased Payment Arrangements [Line Items]
Number of shares, outstanding at beginning (in shares) | shares	134,175	107,529	81,343
Granted (in shares) | shares	298,951	63,056	75,796
Forfeited (in usd per share) | shares	(346)		(1,311)
Vested (in shares) | shares	(152,305)	(36,410)	(48,299)
Number of shares, outstanding at end (in shares) | shares	280,475	134,175	107,529
Expected to vest (in shares) | shares	280,475
Weighted average grant date fair value, expected to vest (in usd per share) | $ / shares	$ 13.80	$ 14.99	$ 17.94
Granted (in usd per share) | $ / shares	15.36	13.03	13.33
Forfeited (in usd per share) | $ / shares	14.95		14.51
Vested (in usd per share) | $ / shares	15.57	15.97	17.35
Weighted average grant date fair value, expected to vest (in usd per share) | $ / shares	14.50	$ 13.80	$ 14.99
Weighted average grand date fair value, expected to vest | $ / shares	$ 14.50
Weighted average remaining contractual term, outstanding	1 year 11 months 26 days
Weighted average remaining contractual term, expected to vest	1 year 11 months 26 days

Other expenses (Details)

Other expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Other expenses
Administrative	$ 6,165	$ 5,587	$ 4,484
Professional services	5,522	5,603	4,074
Maintenance and repairs	4,731	3,449	2,388
Share-based payments to directors	931	895	924
Regulatory fees	1,321	1,015	978
Operating lease of spaces and equipment	691	717	562
Advertising and marketing	1,012	557	179
Other	1,799	354	1,191
Total	$ 22,172	$ 18,177	$ 14,780

Applicable laws and regulatio_3

Applicable laws and regulations - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Statement [Line Items]
Capital reserves	$ 95,210	$ 95,210
Minimun of the year
Statement [Line Items]
Percentage of liquid assets	30%
Percentage of capital adequacy index	8%
Percentage of ordinary primary capital	4.50%
Percentage of primary capital	6%
Normal
Statement [Line Items]
Percentage of reserve for credit losses	0%
Special Mention
Statement [Line Items]
Percentage of reserve for credit losses	20%
Substandard
Statement [Line Items]
Percentage of reserve for credit losses	50%
Doubtful
Statement [Line Items]
Percentage of reserve for credit losses	80%
Unrecoverable
Statement [Line Items]
Percentage of reserve for credit losses	100%
Superintendence of Banks of Panama
Statement [Line Items]
Percentage of liquidity coverage ratio	205.80%	167.50%
Maturity of deposits in overseas up	186 days
Percentage of liquidity index	93.40%	100.49%
Provisions and credit reserves	$ 136,000	$ 136,000
Superintendence of Banks of Panama | Minimun of the year
Statement [Line Items]
Percentage of liquidity coverage ratio	100%

Applicable laws and regulatio_4

Applicable laws and regulations - Schedule of applicable laws and regulations (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Applicable laws and regulations
Capital funds	$ 1,206,753	$ 1,072,110
Risk-weighted assets	$ 8,898,408	$ 8,117,913
Capital adequacy index	13.60%	13.20%

Applicable laws and regulatio_5

Applicable laws and regulations - Schedule of 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 (Details ) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Applicable laws and regulations
Ordinary capital	$ 1,070,734	$ 936,092
Non-risk-weighted assets	$ 10,994,085	$ 9,606,970
Leverage ratio	9.70%	9.70%

Applicable laws and regulatio_6

Applicable laws and regulations - Schedule of based on the classification of risks, collateral and in compliance with SBP Rule No. 4 2013 (Details ) - At amortized cost - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Statement [Line Items]
Corporation loan	$ 7,195,567	$ 6,763,020
Loans and advances to banks	2,713,068	2,965,267
Specific provision	12,122	15,870
Current
Statement [Line Items]
Corporation loan	7,185,460	6,732,913
Loans and advances to banks	2,713,068	2,945,267
Past due
Statement [Line Items]
Corporation loan	0	20,000
Loans and advances to banks	0	20,000
Delinquent
Statement [Line Items]
Corporation loan	10,107	10,107
Loans and advances to banks	0	0
Loans Portfolio
Statement [Line Items]
Corporation loan	7,195,567	6,763,020
Loans and advances to banks	2,713,068	2,965,267
Normal
Statement [Line Items]
Corporation loan	7,153,118	6,732,913
Loans and advances to banks	2,713,068	2,945,267
Specific provision	0	0
Special Mention
Statement [Line Items]
Corporation loan	32,342	0
Loans and advances to banks	0	0
Specific provision	6,470	0
Substandard
Statement [Line Items]
Corporation loan	0	20,000
Loans and advances to banks	0	20,000
Specific provision	0	10,000
Doubtful
Statement [Line Items]
Corporation loan	0	0
Loans and advances to banks	0	0
Specific provision	0	0
Unrecoverable
Statement [Line Items]
Corporation loan	10,107	10,107
Loans and advances to banks	0	0
Specific provision	5,652	5,870
Loans to corporate entities
Statement [Line Items]
Corporation loan	4,396,827	3,669,125
Loans to corporate entities | Current
Statement [Line Items]
Corporation loan	4,386,720	3,659,018
Loans to corporate entities | Past due
Statement [Line Items]
Corporation loan	0	0
Loans to corporate entities | Delinquent
Statement [Line Items]
Corporation loan	10,107	10,107
Loans to corporate entities | Loans Portfolio
Statement [Line Items]
Corporation loan	4,396,827	3,669,125
Loans to corporate entities | Normal
Statement [Line Items]
Corporation loan	4,354,378	3,659,018
Loans to corporate entities | Special Mention
Statement [Line Items]
Corporation loan	32,342	0
Loans to corporate entities | Substandard
Statement [Line Items]
Corporation loan	0	0
Loans to corporate entities | Doubtful
Statement [Line Items]
Corporation loan	0	0
Loans to corporate entities | Unrecoverable
Statement [Line Items]
Corporation loan	10,107	10,107
Private
Statement [Line Items]
Loans and advances to banks	2,248,150	2,245,385
Private | Current
Statement [Line Items]
Loans and advances to banks	2,248,150	2,225,385
Private | Past due
Statement [Line Items]
Loans and advances to banks	0	20,000
Private | Delinquent
Statement [Line Items]
Loans and advances to banks	0	0
Private | Loans Portfolio
Statement [Line Items]
Loans and advances to banks	2,248,150	2,245,385
Private | Normal
Statement [Line Items]
Loans and advances to banks	2,248,150	2,225,385
Private | Special Mention
Statement [Line Items]
Loans and advances to banks	0	0
Private | Substandard
Statement [Line Items]
Loans and advances to banks	0	20,000
Private | Doubtful
Statement [Line Items]
Loans and advances to banks	0	0
Private | Unrecoverable
Statement [Line Items]
Loans and advances to banks	0	0
State-owned
Statement [Line Items]
Loans and advances to banks	464,918	719,882
State-owned | Current
Statement [Line Items]
Loans and advances to banks	464,918	719,882
State-owned | Past due
Statement [Line Items]
Loans and advances to banks	0	0
State-owned | Delinquent
Statement [Line Items]
Loans and advances to banks	0	0
State-owned | Loans Portfolio
Statement [Line Items]
Loans and advances to banks	464,918	719,882
State-owned | Normal
Statement [Line Items]
Loans and advances to banks	464,918	719,882
State-owned | Special Mention
Statement [Line Items]
Loans and advances to banks	0	0
State-owned | Substandard
Statement [Line Items]
Loans and advances to banks	0	0
State-owned | Doubtful
Statement [Line Items]
Loans and advances to banks	0	0
State-owned | Unrecoverable
Statement [Line Items]
Loans and advances to banks	0	0
Sovereign
Statement [Line Items]
Sovereign	85,672	128,628
Sovereign | Current
Statement [Line Items]
Sovereign	85,672	128,628
Sovereign | Past due
Statement [Line Items]
Sovereign	0	0
Sovereign | Delinquent
Statement [Line Items]
Sovereign	0	0
Sovereign | Loans Portfolio
Statement [Line Items]
Sovereign	85,672	128,628
Sovereign | Normal
Statement [Line Items]
Sovereign	85,672	128,628
Sovereign | Special Mention
Statement [Line Items]
Sovereign	0	0
Sovereign | Substandard
Statement [Line Items]
Sovereign	0	0
Sovereign | Doubtful
Statement [Line Items]
Sovereign	0	0
Sovereign | Unrecoverable
Statement [Line Items]
Sovereign	0	0
Allowance For Loan Losses IFRS
Statement [Line Items]
Total Allowance for loan losses IFRS	59,410	55,200
Allowance For Loan Losses IFRS | Normal
Statement [Line Items]
Total Allowance for loan losses IFRS	45,958	33,639
Allowance For Loan Losses IFRS | Special Mention
Statement [Line Items]
Total Allowance for loan losses IFRS	6,554	0
Allowance For Loan Losses IFRS | Substandard
Statement [Line Items]
Total Allowance for loan losses IFRS	0	16,141
Allowance For Loan Losses IFRS | Doubtful
Statement [Line Items]
Total Allowance for loan losses IFRS	0	0
Allowance For Loan Losses IFRS | Unrecoverable
Statement [Line Items]
Total Allowance for loan losses IFRS	$ 6,898	$ 5,420

Applicable laws and regulatio_7

Applicable laws and regulations - Schedule of statutory purposes (Details) - Financial assets impaired - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Statement [Line Items]
Impaired loans	$ 10,107	$ 30,107
Normal
Statement [Line Items]
Impaired loans	0	0
Special Mention
Statement [Line Items]
Impaired loans	0	0
Substandard
Statement [Line Items]
Impaired loans	0	20,000
Doubtful
Statement [Line Items]
Impaired loans	0	0
Unrecoverable
Statement [Line Items]
Impaired loans	$ 10,107	$ 10,107

Applicable laws and regulatio_8

Applicable laws and regulations - Schedule of non-accruing loans (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Non-accruing loans:
Interest that would be reversed if the loans had been classified as non-accruing loans	$ 328	$ 1,173
Securities at FVOCI - Corporate debt
Non-accruing loans:
Total non-accruing loans	$ 10,107	$ 30,107

Applicable laws and regulatio_9

Applicable laws and regulations - Schedule of classification of the loan portfolio by maturity profile based on Rule No.4-2013 (Details) - Loans - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Statement [Line Items]
Corporation loan	$ 7,195,567	$ 6,763,020
Loans and advances to banks	2,713,068	2,965,267
Securities at FVOCI - Corporate debt
Statement [Line Items]
Corporation loan	4,396,827	3,669,125
Private
Statement [Line Items]
Loans and advances to banks	2,248,150	2,245,385
State-owned
Statement [Line Items]
Loans and advances to banks	464,918	719,882
Sovereign
Statement [Line Items]
Sovereign	85,672	128,628
Special Mention
Statement [Line Items]
Corporation loan	32,342	0
Loans and advances to banks	0	0
Special Mention | Securities at FVOCI - Corporate debt
Statement [Line Items]
Corporation loan	32,342	0
Special Mention | Private
Statement [Line Items]
Loans and advances to banks	0	0
Special Mention | State-owned
Statement [Line Items]
Loans and advances to banks	0	0
Special Mention | Sovereign
Statement [Line Items]
Sovereign	0	0
Current
Statement [Line Items]
Corporation loan	7,185,460	6,732,913
Loans and advances to banks	2,713,068	2,945,267
Current | Securities at FVOCI - Corporate debt
Statement [Line Items]
Corporation loan	4,386,720	3,659,018
Current | Private
Statement [Line Items]
Loans and advances to banks	2,248,150	2,225,385
Current | State-owned
Statement [Line Items]
Loans and advances to banks	464,918	719,882
Current | Sovereign
Statement [Line Items]
Sovereign	85,672	128,628
Loans Portfolio
Statement [Line Items]
Corporation loan	7,195,567	6,763,020
Loans and advances to banks	2,713,068	2,965,267
Loans Portfolio | Securities at FVOCI - Corporate debt
Statement [Line Items]
Corporation loan	4,396,827	3,669,125
Loans Portfolio | Private
Statement [Line Items]
Loans and advances to banks	2,248,150	2,245,385
Loans Portfolio | State-owned
Statement [Line Items]
Loans and advances to banks	464,918	719,882
Loans Portfolio | Sovereign
Statement [Line Items]
Sovereign	85,672	128,628
Past due
Statement [Line Items]
Corporation loan	0	20,000
Loans and advances to banks	0	20,000
Past due | Securities at FVOCI - Corporate debt
Statement [Line Items]
Corporation loan	0	0
Past due | Private
Statement [Line Items]
Loans and advances to banks	0	20,000
Past due | State-owned
Statement [Line Items]
Loans and advances to banks	0	0
Past due | Sovereign
Statement [Line Items]
Sovereign	0	0
Delinquent
Statement [Line Items]
Corporation loan	10,107	10,107
Loans and advances to banks	0	0
Delinquent | Securities at FVOCI - Corporate debt
Statement [Line Items]
Corporation loan	10,107	10,107
Delinquent | Private
Statement [Line Items]
Loans and advances to banks	0	0
Delinquent | State-owned
Statement [Line Items]
Loans and advances to banks	0	0
Delinquent | Sovereign
Statement [Line Items]
Sovereign	$ 0	$ 0

Applicable laws and regulati_10

Applicable laws and regulations - Schedule of provision and reserve (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Statement [Line Items]
Statutory reserve	$ 136,019	$ 136,019

Subsequent events (Details)

Subsequent events (Details) - Major ordinary share transactions - USD ($) $ / shares in Units, $ in Millions		1 Months Ended
	Mar. 19, 2024	Feb. 29, 2024	May 15, 2024
Disclosure of non-adjusting events after reporting period [line items]
Cash dividend (in dollars per share)	$ 0.50
Grant date fair value		$ 6.8
Grant date fair value (in shares)		317,783
Shares vested (in shares)		79,455
Authorized amount under repurchase program		$ 50
Dividend payable (in dollars per share)			$ 0.50