拉丁美洲外商银行 INC. | ||||||||
(注册者) | ||||||||
日期:2024年8月7日 | 作者: | /s/ 安娜·格拉西拉·德·门德斯 | ||||||
名字: | 安娜·格拉西拉·德·门德斯 | |||||||
职称: | 财务长 |
未经审核的简明综合中期资产负债表 | ||||||||||||||||||||
未经审核的简明综合中期损益表 | ||||||||||||||||||||
未经稽核的综合收益缩表中期财务报表 | ||||||||||||||||||||
未经审核的总体简明中期权益变动报告 | ||||||||||||||||||||
未经审核的简明综合中期现金流量表 | ||||||||||||||||||||
未经核数的简明合并财务报表注记 |
6月30日, | 12月31日, | ||||||||||||||||
2024 | 2023 | ||||||||||||||||
注释 | (未经查核) | (审计) | |||||||||||||||
资产 | |||||||||||||||||
现金及来自银行的存款 | 3,4,5 | 1,903,541 | 2,047,452 | ||||||||||||||
投资证券净额 | 3,4,6 | 1,146,484 | 1,022,131 | ||||||||||||||
贷款净额 | 3,4,7 | 7,443,597 | 7,220,520 | ||||||||||||||
接受客户承担债务 | 3,4 | 284,997 | 261,428 | ||||||||||||||
金融衍生工具-资产 | 3,4,10 | 92,652 | 157,267 | ||||||||||||||
设备及租赁改善、净值 | 15,821 | 16,794 | |||||||||||||||
无形资产,扣除累计摊销 | 2,605 | 2,605 | |||||||||||||||
其他资产 | 11 | 16,917 | 15,595 | ||||||||||||||
资产总额 | 10,906,614 | 10,743,792 | |||||||||||||||
负债及股东权益 | |||||||||||||||||
负债: | |||||||||||||||||
活期存款 | 644,179 | 510,195 | |||||||||||||||
定期存款 | 4,615,046 | 3,897,954 | |||||||||||||||
3,4,12 | 5,259,225 | 4,408,149 | |||||||||||||||
应付利息 | 61,917 | 42,876 | |||||||||||||||
总存款 | 5,321,142 | 4,451,025 | |||||||||||||||
在回购协议下出售的证券 | 3,4,13 | 302,765 | 310,197 | ||||||||||||||
借款及负债净额 | 3,4,14 | 3,540,487 | 4,351,988 | ||||||||||||||
应付利息 | 37,310 | 49,217 | |||||||||||||||
租赁负债 | 3,15 | 16,148 | 16,707 | ||||||||||||||
未到期承兑 | 3,4 | 284,997 | 261,428 | ||||||||||||||
衍生金融工具 - 负债 | 3,4,10 | 94,578 | 40,613 | ||||||||||||||
贷款承诺及金融担保损失提列 合约 | 3,4 | 11,488 | 5,059 | ||||||||||||||
其他负债 | 16 | 34,104 | 53,734 | ||||||||||||||
总负债 | 9,643,019 | 9,539,968 | |||||||||||||||
股权: | |||||||||||||||||
普通股票 | 279,980 | 279,980 | |||||||||||||||
库藏股 | (105,672) | (110,174) | |||||||||||||||
超过普通股指定价值的额外实收资本 | 120,735 | 122,046 | |||||||||||||||
资本储备 | 22 | 95,210 | 95,210 | ||||||||||||||
监管准备金 | 22 | 136,019 | 136,019 | ||||||||||||||
保留收益 | 737,958 | 673,281 | |||||||||||||||
其他综合收益 | (635) | 7,462 | |||||||||||||||
总股本 | 1,263,595 | 1,203,824 | |||||||||||||||
负债加股东权益总额 | 10,906,614 | 10,743,792 |
截至六月三十日止三个月 | 截至六月三十日止六个月 | ||||||||||||||||||||||||||||
注释 | 2024 | 2023 | 2024 | 2023 | |||||||||||||||||||||||||
利息收入: | |||||||||||||||||||||||||||||
存款 | 25,642 | 19,002 | 50,668 | 33,401 | |||||||||||||||||||||||||
投资证券 | 12,630 | 6,577 | 23,258 | 12,962 | |||||||||||||||||||||||||
贷款 | 157,101 | 133,923 | 315,019 | 256,518 | |||||||||||||||||||||||||
利息收入总额 | 19 | 195,373 | 159,502 | 388,945 | 302,881 | ||||||||||||||||||||||||
利息支出: | |||||||||||||||||||||||||||||
存款 | (76,808) | (50,542) | (146,542) | (90,600) | |||||||||||||||||||||||||
在回购协议下出售的证券 | 13 | (3,592) | (2,698) | (6,156) | (4,565) | ||||||||||||||||||||||||
借款和债务 | 14 | (52,069) | (51,660) | (110,309) | (100,350) | ||||||||||||||||||||||||
租赁负债 | 15 | (145) | (144) | (294) | (288) | ||||||||||||||||||||||||
总利息费用 | 19 | (132,614) | (105,044) | (263,301) | (195,803) | ||||||||||||||||||||||||
净利息收益 | 62,759 | 54,458 | 125,644 | 107,078 | |||||||||||||||||||||||||
其他收入(费用): | |||||||||||||||||||||||||||||
Fees and commissions, net | 18 | 12,533 | 6,507 | 22,005 | 11,319 | ||||||||||||||||||||||||
Loss on financial instruments, net | 9 | (351) | (3,637) | (191) | (1,933) | ||||||||||||||||||||||||
其他收益,净额 | 99 | 52 | 170 | 91 | |||||||||||||||||||||||||
其他综合收益净额 | 19 | 12,281 | 2,922 | 21,984 | 9,477 | ||||||||||||||||||||||||
总收益 | 75,040 | 57,380 | 147,628 | 116,555 | |||||||||||||||||||||||||
信用损失准备 | 3,19 | (6,684) | (4,691) | (9,713) | (11,022) | ||||||||||||||||||||||||
营业费用: | |||||||||||||||||||||||||||||
薪金及其他员工费用 | (11,761) | (9,862) | (23,431) | (19,598) | |||||||||||||||||||||||||
设备及租赁改善折旧 设备及租赁改善折旧 | (591) | (552) | (1,185) | (1,099) | |||||||||||||||||||||||||
营业无形资产摊销 | (250) | (190) | (474) | (377) | |||||||||||||||||||||||||
其他费用 | (5,632) | (5,019) | (11,435) | (10,439) | |||||||||||||||||||||||||
营业费用总计 | 19 | (18,234) | (15,623) | (36,525) | (31,513) | ||||||||||||||||||||||||
本期净利 | 50,122 | 37,066 | 101,390 | 74,020 | |||||||||||||||||||||||||
每股数据: | |||||||||||||||||||||||||||||
每股基本盈利(以美元计) | 17 | 1.36 | 1.02 | 2.76 | 2.03 | ||||||||||||||||||||||||
基本加权平均股份(以千股计) | 17 | 36,775 | 36,492 | 36,692 | 36,426 | ||||||||||||||||||||||||
截至六月三十日止的三个月 | 截至六月三十日止六个月 | ||||||||||||||||||||||
2024 | 2023 | 2024 | 2023 | ||||||||||||||||||||
期间的利润 | 50,122 | 37,066 | 101,390 | 74,020 | |||||||||||||||||||
其他综合收益: | |||||||||||||||||||||||
之后被重新分类至合并损益表的项目: | |||||||||||||||||||||||
金融工具公平价值变动,净值 围住 | (7,918) | 3,498 | (8,446) | 108 | |||||||||||||||||||
财务收益(亏损)重新分类 亏损的工具 | 114 | (773) | 349 | (577) | |||||||||||||||||||
其他综合收益(亏损) | (7,804) | 2,725 | (8,097) | (469) | |||||||||||||||||||
期内的综合收益总额 | 42,318 | 39,791 | 93,293 | 73,551 |
普通股票 | 库藏股 | 资本公积额额外增资 超过指定值 普通股份 | 资本储备 | 监管 储备 | 保留收益 | 其他综合 所认列的增益金额(损失),其从其他综合收益重分类到收益中 | 总股本 | ||||||||||||||||||||||||||||||||||||||||
2023年1月1日的余额 | 279,980 | (114,097) | 120,498 | 95,210 | 136,019 | 543,612 | 8,125 | 1,069,347 | |||||||||||||||||||||||||||||||||||||||
本期净利 | — | — | — | — | — | 74,020 | — | 74,020 | |||||||||||||||||||||||||||||||||||||||
其他综合收益 | — | — | — | — | — | — | (469) | (469) | |||||||||||||||||||||||||||||||||||||||
限制股票发行 | — | 1,148 | (1,148) | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||
薪酬成本 - 期权和股票单位计划 | — | — | 2,844 | — | — | — | — | 2,844 | |||||||||||||||||||||||||||||||||||||||
执行期权和股票单位已授予 | — | 2,234 | (2,234) | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||
监管信用准备金 | — | — | — | — | 343 | (343) | — | — | |||||||||||||||||||||||||||||||||||||||
宣布的分红派息 | — | — | — | — | — | (18,220) | — | (18,220) | |||||||||||||||||||||||||||||||||||||||
2023年6月30日的余额 | 279,980 | (110,715) | 119,960 | 95,210 | 136,362 | 599,069 | 7,656 | 1,127,522 | |||||||||||||||||||||||||||||||||||||||
2024年1月1日的余额 | 279,980 | (110,174) | 122,046 | 95,210 | 136,019 | 673,281 | 7,462 | — | 1,203,824 | ||||||||||||||||||||||||||||||||||||||
本期净利 | — | — | — | — | — | 101,390 | — | 101,390 | |||||||||||||||||||||||||||||||||||||||
其他综合收益 | — | — | — | — | — | — | (8,097) | (8,097) | |||||||||||||||||||||||||||||||||||||||
限制股票发行 | — | 1,038 | (1,038) | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||
薪酬成本 - 期权和股票单位计划 | — | — | 3,191 | — | — | — | — | 3,191 | |||||||||||||||||||||||||||||||||||||||
行使期权和股票单位已发放 | — | 3,464 | (3,464) | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||
宣布的分红派息 | — | — | — | — | — | (36,713) | — | (36,713) | |||||||||||||||||||||||||||||||||||||||
2024年6月30日的结余 | 279,980 | (105,672) | 120,735 | 95,210 | 136,019 | 737,958 | (635) | 1,263,595 |
Notes | 2024 | 2023 | ||||||||||||
Cash flows from operating activities | ||||||||||||||
Profit for the period | 101,390 | 74,020 | ||||||||||||
Adjustments to reconcile profit for the period to net cash provided by operating activities: | ||||||||||||||
Depreciation of equipment and leasehold improvements | 1,185 | 1,099 | ||||||||||||
Amortization of intangible assets | 474 | 377 | ||||||||||||
Provision for credit losses | 3 | 9,712 | 11,022 | |||||||||||
Loss on sale of financial instruments at amortized cost | — | 3,167 | ||||||||||||
Compensation cost - share-based payment | 3,191 | 2,844 | ||||||||||||
Net changes in hedging position and foreign currency | (5,266) | 27,428 | ||||||||||||
Interest income | 19 | (388,945) | (302,881) | |||||||||||
Interest expense | 19 | 263,301 | 195,803 | |||||||||||
Changes in operating assets and liabilities: | ||||||||||||||
Pledged deposits | (42,022) | (11,882) | ||||||||||||
Loans | (251,216) | (14,674) | ||||||||||||
Other assets | (1,044) | (6,679) | ||||||||||||
Due to depositors | 851,075 | 883,739 | ||||||||||||
Other liabilities | (19,646) | 2,829 | ||||||||||||
Cash flows provided by operating activities | 522,189 | 866,212 | ||||||||||||
Interest received | 385,042 | 298,213 | ||||||||||||
Interest paid | (255,367) | (178,184) | ||||||||||||
Net cash provided by operating activities | 651,864 | 986,241 | ||||||||||||
Cash flows from investing activities: | ||||||||||||||
Acquisition of equipment and leasehold improvements | (207) | (427) | ||||||||||||
Acquisition of intangible assets | (475) | (528) | ||||||||||||
Proceeds from the sale of securities at amortized cost | — | 45,988 | ||||||||||||
Proceeds from the redemption of securities at amortized cost | 136,713 | 204,218 | ||||||||||||
Proceeds from the redemption of securities at FVOCI | — | 78,600 | ||||||||||||
Purchases of securities at FVOCI | (86,449) | — | ||||||||||||
Purchases of securities at amortized cost | (174,194) | (324,838) | ||||||||||||
Net cash (used in) provided by investing activities | (124,612) | 3,013 | ||||||||||||
Cash flows from financing activities: | ||||||||||||||
(Decrease) increase in securities sold under repurchase agreements | (7,432) | 107,074 | ||||||||||||
Net decrease in short-term borrowings and debt | 14 | (871,960) | (424,273) | |||||||||||
Proceeds from long-term borrowings and debt | 14 | 209,189 | 71,645 | |||||||||||
Payments of long-term borrowings and debt | 14 | (6,061) | (158,416) | |||||||||||
Payments of lease liabilities | 15 | (569) | (518) | |||||||||||
Dividends paid | (36,353) | (18,210) | ||||||||||||
Net cash used in financing activities | (713,186) | (422,698) | ||||||||||||
(Decrease) increase net in cash and cash equivalents | (185,934) | 566,556 | ||||||||||||
Cash and cash equivalents at beginning of the period | 1,987,068 | 1,190,936 | ||||||||||||
Cash and cash equivalents at end of the period | 5 | 1,801,134 | 1,757,492 |
(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated) |
(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated) |
June 30, 2024 | |||||||||||||||||||||||||||||
PD Ranges | Stage 1 | Stage 2 | Stage 3 | Total | |||||||||||||||||||||||||
Grades 1 - 4 | 0.05-0.41 | 2,722,024 | — | — | 2,722,024 | ||||||||||||||||||||||||
Grades 5 - 6 | 0.42-3.81 | 3,798,600 | 453,721 | — | 4,252,321 | ||||||||||||||||||||||||
Grades 7 - 8 | 3.82-34.52 | 329,648 | 85,851 | — | 415,499 | ||||||||||||||||||||||||
Grades 9 - 10 | 34.53-100.0 | — | — | 10,107 | 10,107 | ||||||||||||||||||||||||
6,850,272 | 539,572 | 10,107 | 7,399,951 | ||||||||||||||||||||||||||
Loss allowance | (37,450) | (18,750) | (6,969) | (63,169) | |||||||||||||||||||||||||
Total | 6,812,822 | 520,822 | 3,138 | 7,336,782 |
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 |
June 30, 2024 | |||||||||||||||||||||||||||||
PD Ranges | Stage 1 | Stage 2 | Stage 3 | Total | |||||||||||||||||||||||||
Grades 5 - 6 | 0.42-3.81 | 19,789 | — | — | 19,789 | ||||||||||||||||||||||||
19,789 | — | — | 19,789 | ||||||||||||||||||||||||||
Loss allowance | (126) | — | — | (126) | |||||||||||||||||||||||||
Total | 19,663 | — | — | 19,663 |
(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated) |
June 30, 2024 | |||||||||||||||||||||||||||||
12-month PD Ranges | Stage 1 | Stage 2 | Stage 3 | Total | |||||||||||||||||||||||||
Commitments and contingencies | |||||||||||||||||||||||||||||
Grades 1 - 4 | 0.05-0.41 | 474,612 | — | — | 474,612 | ||||||||||||||||||||||||
Grades 5 - 6 | 0.42-3.81 | 647,307 | 1,674 | — | 648,981 | ||||||||||||||||||||||||
Grades 7 - 8 | 3.82-34.52 | 369,581 | 3,550 | — | 373,131 | ||||||||||||||||||||||||
1,491,500 | 5,224 | — | 1,496,724 | ||||||||||||||||||||||||||
Customers' liabilities under acceptances | |||||||||||||||||||||||||||||
Grades 1 - 4 | 0.05-0.41 | 162,471 | — | — | 162,471 | ||||||||||||||||||||||||
Grades 5 - 6 | 0.42-3.81 | 150 | — | — | 150 | ||||||||||||||||||||||||
Grades 7 - 8 | 3.82-34.52 | 122,376 | — | — | 122,376 | ||||||||||||||||||||||||
284,997 | — | — | 284,997 | ||||||||||||||||||||||||||
1,776,497 | 5,224 | — | 1,781,721 | ||||||||||||||||||||||||||
Loss allowance | (11,397) | (91) | — | (11,488) | |||||||||||||||||||||||||
Total | 1,765,100 | 5,133 | — | 1,770,233 |
December 31, 2023 | |||||||||||||||||||||||||||||
12-month PD Ranges | Stage 1 | Stage 2 | Stage 3 | Total | |||||||||||||||||||||||||
Commitments and contingencies | |||||||||||||||||||||||||||||
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 |
(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated) |
June 30, 2024 | |||||||||||||||||||||||||||||
12-month DP Ranges | Stage 1 | Stage 2 | Stage 3 | Total | |||||||||||||||||||||||||
Grades 1 - 4 | 0.05-0.41 | 939,773 | — | — | 939,773 | ||||||||||||||||||||||||
Grades 5 - 6 | 0.42-3.81 | 78,545 | 18,319 | — | 96,864 | ||||||||||||||||||||||||
1,018,318 | 18,319 | — | 1,036,637 | ||||||||||||||||||||||||||
Loss allowance | (1,224) | (116) | — | (1,340) | |||||||||||||||||||||||||
Total | 1,017,094 | 18,203 | — | 1,035,297 |
December 31, 2023 | |||||||||||||||||||||||||||||
12-month PD Ranges | 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 |
June 30, 2024 | |||||||||||||||||||||||||||||
12-month PD Ranges | Stage 1 | Stage 2 | Stage 3 | Total | |||||||||||||||||||||||||
Grades 1 - 4 | 0.05-0.41 | 97,722 | — | — | 97,722 | ||||||||||||||||||||||||
97,722 | — | — | 97,722 | ||||||||||||||||||||||||||
Loss allowance | (23) | — | — | (23) | |||||||||||||||||||||||||
Total | 97,699 | — | — | 97,699 |
December 31, 2023 | |||||||||||||||||||||||||||||
12-month PD Ranges | 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 |
(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated) |
June 30, 2024 | December 31, 2023 | |||||||||||||
Current | 7,409,633 | 7,185,460 | ||||||||||||
Overdue (1) | 10,107 | 10,107 | ||||||||||||
Total | 7,419,740 | 7,195,567 |
June 30, 2024 | |||||||||||||||||
Notional value USD | Derivative financial instruments - fair value asset | Derivative financial instruments - fair value liabilities | |||||||||||||||
Interest rate swaps | 1,070,283 | 15,422 | (4,323) | ||||||||||||||
Cross-currency swaps | 1,510,887 | 77,230 | (90,255) | ||||||||||||||
Total | 2,581,170 | 92,652 | (94,578) |
December 31, 2023 | |||||||||||||||||
Notional value USD | Derivative financial instruments - fair value asset | Derivative financial instruments - fair value liabilities | |||||||||||||||
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) |
(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated) |
Stage 1 | Stage 2 | Stage 3 | Total | ||||||||||||||||||||
Allowance for expected credit losses as of December 31, 2023 | 34,778 | 17,734 | 6,898 | 59,410 | |||||||||||||||||||
Transfer to lifetime expected credit losses | (248) | 248 | — | — | |||||||||||||||||||
Net effect of changes in allowance for expected credit losses | (455) | 1,321 | 71 | 937 | |||||||||||||||||||
Financial instruments that have been derecognized during the period | (16,745) | (767) | — | (17,512) | |||||||||||||||||||
New financial assets originated or purchased | 20,120 | 214 | — | 20,334 | |||||||||||||||||||
Allowance for expected credit losses as of June 30, 2024 | 37,450 | 18,750 | 6,969 | 63,169 |
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 financial assets 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 |
(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated) |
Stage 1 | Stage 2 | Stage 3 | Total | ||||||||||||||||||||
Allowance for expected credit losses as of December 31, 2023 | — | — | — | — | |||||||||||||||||||
New financial assets originated or purchased | 126 | — | — | 126 | |||||||||||||||||||
Allowance for expected credit losses as of June 30, 2024 | 126 | — | — | 126 |
Stage 1 | Stage 2 | Stage 3 | Total | ||||||||||||||||||||
Allowance for expected credit losses as of December 31, 2023 | 3,905 | 1,154 | — | 5,059 | |||||||||||||||||||
Transfer to lifetime expected credit losses | (4) | 4 | — | — | |||||||||||||||||||
Net effect of changes in reserve for expected credit losses | (29) | (516) | — | (545) | |||||||||||||||||||
Financial instruments that have been derecognized during the period | (2,333) | (551) | — | (2,884) | |||||||||||||||||||
New instruments originated or purchased | 9,858 | — | — | 9,858 | |||||||||||||||||||
Allowance for expected credit losses as of June 30, 2024 | 11,397 | 91 | — | 11,488 |
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 |
(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated) |
Stage 1 | Stage 2 | Stage 3 | Total | ||||||||||||||||||||
Allowance for expected credit losses as of December 31, 2023 | 1,230 | 402 | — | 1,632 | |||||||||||||||||||
Net effect of changes in allowance for expected credit losses | (81) | (111) | (331) | (523) | |||||||||||||||||||
Financial instruments that have been derecognized during the year | (200) | (175) | — | (375) | |||||||||||||||||||
New financial assets originated or purchased | 275 | — | — | 275 | |||||||||||||||||||
Recoveries | — | — | 331 | — | |||||||||||||||||||
Allowance for expected credit losses as of June 30, 2024 | 1,224 | 116 | — | 1,340 |
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 | |||||||||||||||||||
Write-offs | — | (1,752) | (5,254) | (7,006) | |||||||||||||||||||
Allowance for expected credit losses as of December 31, 2023 | 1,230 | 402 | — | 1,632 |
Stage 1 | Stage 2 | Stage 3 | Total | ||||||||||||||||||||
Allowance for expected credit losses as of December 31, 2023 | 1 | — | — | 1 | |||||||||||||||||||
Net effect of changes in allowance for expected credit losses | 1 | 1 | |||||||||||||||||||||
New financial assets originated or purchased | 21 | — | — | 21 | |||||||||||||||||||
Allowance for expected credit losses as of June 30, 2024 | 23 | — | — | 23 |
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 |
(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated) |
June 30, 2024 | Loans | Loan commitments and financial guarantee contracts | Securities | Total | |||||||||||||||||||||||||||||||
At amortized cost | FVOCI | At amortized cost | FVOCI | ||||||||||||||||||||||||||||||||
Net effect of changes in allowance for expected credit losses | 937 | — | (545) | 1 | (523) | (130) | |||||||||||||||||||||||||||||
Financial instruments that have been derecognized during the period | (17,512) | — | (2,884) | — | (375) | (20,771) | |||||||||||||||||||||||||||||
New financial assets originated or purchased | 20,334 | 126 | 9,858 | 21 | 275 | 30,614 | |||||||||||||||||||||||||||||
Total | 3,759 | 126 | 6,429 | 22 | (623) | 9,713 |
June 30, 2023 | Loans | Loan commitments and financial guarantee contracts | Securities | Total | |||||||||||||||||||||||||||||||
At amortized cost | FVOCI | At amortized cost | FVOCI | ||||||||||||||||||||||||||||||||
Net effect of changes in allowance for expected credit losses | 4,359 | — | 14 | 3,273 | — | 7,646 | |||||||||||||||||||||||||||||
Financial instruments that have been derecognized during the period | (12,865) | — | (2,639) | (2,653) | (10) | (18,167) | |||||||||||||||||||||||||||||
New financial assets originated or purchased | 17,118 | — | 4,266 | 159 | — | 21,543 | |||||||||||||||||||||||||||||
Total | 8,612 | — | 1,641 | 779 | (10) | 11,022 |
(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated) |
Loans at amortized cost | June 30, 2024 | December 31, 2023 | |||||||||
Credit-impaired loans at beginning of period | 6,898 | 21,561 | |||||||||
Change in allowance for expected credit losses | 71 | 6,181 | |||||||||
Write-offs | — | (21,144) | |||||||||
Interest income | — | 300 | |||||||||
Credit-impaired loans at end of period | 6,969 | 6,898 |
Securities at amortized cost | June 30, 2024 | December 31, 2023 | |||||||||
Investments at amortized cost with credit impairment at beginning of period | — | 4,002 | |||||||||
Change in allowance for expected credit losses | (331) | 1,249 | |||||||||
Recoveries of amounts previously written off | 331 | — | |||||||||
Interest income | — | 3 | |||||||||
Write-offs | — | (5,254) | |||||||||
Credit-impaired loans and advances at end of period | — | — | |||||||||
(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated) |
Loans at amortized cost | Loan commitments and financial guarantee contracts | Securities at amortized cost | |||||||||||||||||||||||||||||||||
June 30, 2024 | December 31, 2023 | June 30, 2024 | December 31, 2023 | June 30, 2024 | December 31, 2023 | ||||||||||||||||||||||||||||||
Carrying amount - principal | 7,399,951 | 7,195,567 | 284,997 | 261,428 | 1,036,637 | 999,544 | |||||||||||||||||||||||||||||
Amount committed/guaranteed | — | — | 1,496,724 | 1,063,706 | — | — | |||||||||||||||||||||||||||||
Concentration by sector | |||||||||||||||||||||||||||||||||||
Corporations: | |||||||||||||||||||||||||||||||||||
Private | 3,341,961 | 3,192,357 | 799,445 | 727,379 | 603,459 | 582,877 | |||||||||||||||||||||||||||||
State-owned | 1,343,940 | 1,204,471 | 125,672 | 115,542 | 11,867 | 20,619 | |||||||||||||||||||||||||||||
Financial institutions: | |||||||||||||||||||||||||||||||||||
Private | 2,205,356 | 2,248,150 | 184,749 | 97,381 | 304,769 | 311,870 | |||||||||||||||||||||||||||||
State-owned | 438,598 | 464,917 | 671,855 | 384,832 | 28,267 | 35,149 | |||||||||||||||||||||||||||||
Sovereign | 70,096 | 85,672 | — | — | 88,275 | 49,029 | |||||||||||||||||||||||||||||
Total | 7,399,951 | 7,195,567 | 1,781,721 | 1,325,134 | 1,036,637 | 999,544 | |||||||||||||||||||||||||||||
Concentration by industry | |||||||||||||||||||||||||||||||||||
Financial institutions | 2,643,954 | 2,713,067 | 856,603 | 482,213 | 348,512 | 351,463 | |||||||||||||||||||||||||||||
Manufacturing | 1,848,072 | 1,702,514 | 422,640 | 464,433 | 370,765 | 346,140 | |||||||||||||||||||||||||||||
Oil and petroleum derived products | 1,401,449 | 1,330,526 | 126,389 | 106,518 | 82,824 | 95,144 | |||||||||||||||||||||||||||||
Agricultural | 371,022 | 239,498 | 31,943 | 22,546 | — | — | |||||||||||||||||||||||||||||
Services | 473,549 | 465,113 | 131,446 | 108,632 | 104,796 | 84,840 | |||||||||||||||||||||||||||||
Mining | 284,803 | 328,415 | 21,000 | 26,329 | 14,622 | 9,690 | |||||||||||||||||||||||||||||
Sovereign | 70,096 | 85,672 | — | — | 52,714 | 49,029 | |||||||||||||||||||||||||||||
Other | 307,006 | 330,762 | 191,700 | 114,463 | 62,404 | 63,238 | |||||||||||||||||||||||||||||
Total | 7,399,951 | 7,195,567 | 1,781,721 | 1,325,134 | 1,036,637 | 999,544 |
(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated) |
Loans at FVOCI | Securities FVOCI | |||||||||||||||||||||||||
June 30, 2024 | December 31, 2023 | June 30, 2024 | December 31, 2023 | |||||||||||||||||||||||
Carrying amount - principal | 19,789 | — | 97,722 | 11,824 | ||||||||||||||||||||||
Concentration by sector | ||||||||||||||||||||||||||
Corporations: | ||||||||||||||||||||||||||
Private | 9,930 | — | — | — | ||||||||||||||||||||||
Financial institutions: | ||||||||||||||||||||||||||
Private | 9,859 | — | — | — | ||||||||||||||||||||||
State-owned | — | — | 97,722 | 11,824 | ||||||||||||||||||||||
Total | 19,789 | — | 97,722 | 11,824 | ||||||||||||||||||||||
Concentration by industry | ||||||||||||||||||||||||||
Financial institutions | 9,859 | — | 97,722 | 11,824 | ||||||||||||||||||||||
Manufacturing | 9,930 | — | — | — | ||||||||||||||||||||||
Total | 19,789 | — | 97,722 | 11,824 |
(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated) |
Loans at amortized cost | Loan commitments and financial guarantee contracts | Securities at amortized cost | |||||||||||||||||||||||||||||||||
June 30, 2024 | December 31, 2023 | June 30, 2024 | December 31, 2023 | June 30, 2024 | December 31, 2023 | ||||||||||||||||||||||||||||||
Carrying amount - principal | 7,399,951 | 7,195,567 | 284,997 | 261,428 | — | 999,544 | |||||||||||||||||||||||||||||
Amount committed/guaranteed | — | — | 1,496,724 | 1,063,706 | — | — | |||||||||||||||||||||||||||||
Rating | |||||||||||||||||||||||||||||||||||
1-4 | 2,722,024 | 2,893,562 | 637,083 | 621,339 | 939,773 | 913,524 | |||||||||||||||||||||||||||||
5-6 | 4,252,321 | 3,918,847 | 649,131 | 443,791 | 96,864 | 86,020 | |||||||||||||||||||||||||||||
7-8 | 415,499 | 373,051 | 495,508 | 260,004 | — | — | |||||||||||||||||||||||||||||
9-10 | 10,107 | 10,107 | — | — | — | — | |||||||||||||||||||||||||||||
Total | 7,399,951 | 7,195,567 | 1,781,722 | 1,325,134 | 1,036,637 | 999,544 | |||||||||||||||||||||||||||||
Concentration by country | |||||||||||||||||||||||||||||||||||
Argentina | 86,720 | 52,264 | 205,663 | — | — | — | |||||||||||||||||||||||||||||
Australia | — | — | — | — | 9,768 | 4,803 | |||||||||||||||||||||||||||||
Belgium | 17,631 | 14,223 | — | — | 14,851 | — | |||||||||||||||||||||||||||||
Bolivia | — | — | 3,550 | 4,270 | — | — | |||||||||||||||||||||||||||||
Brazil | 989,299 | 1,008,633 | 139,784 | 83,932 | 23,999 | 31,009 | |||||||||||||||||||||||||||||
Canada | 17,170 | 22,599 | 10,000 | 24,996 | 15,298 | 38,508 | |||||||||||||||||||||||||||||
Chile | 463,905 | 454,885 | 44,294 | 16,423 | 55,790 | 79,495 | |||||||||||||||||||||||||||||
China | 15,000 | — | — | — | — | — | |||||||||||||||||||||||||||||
Colombia | 978,821 | 938,897 | 72,661 | 67,545 | 14,982 | 23,837 | |||||||||||||||||||||||||||||
Costa Rica | 306,537 | 284,709 | 54,642 | 51,895 | 7,993 | 7,988 | |||||||||||||||||||||||||||||
Denmark | — | — | — | — | — | — | |||||||||||||||||||||||||||||
Dominican Republic | 651,000 | 637,199 | 236,973 | 157,986 | 4,642 | 4,705 | |||||||||||||||||||||||||||||
Ecuador | 189,254 | 190,628 | 285,844 | 259,597 | — | — | |||||||||||||||||||||||||||||
El Salvador | 55,163 | 82,500 | — | — | — | — | |||||||||||||||||||||||||||||
France | 77,021 | 27,454 | 111,250 | 96,249 | 9,942 | — | |||||||||||||||||||||||||||||
Germany | — | — | 15,000 | 15,000 | 20,121 | 14,750 | |||||||||||||||||||||||||||||
Guatemala | 761,588 | 704,012 | 93,068 | 100,227 | — | — | |||||||||||||||||||||||||||||
Honduras | 202,621 | 221,672 | 1,425 | 975 | — | — | |||||||||||||||||||||||||||||
Hong Kong | — | 15,000 | — | — | — | — | |||||||||||||||||||||||||||||
Ireland | — | — | — | — | 11,792 | 14,976 | |||||||||||||||||||||||||||||
Israel | — | — | — | — | — | 4,788 | |||||||||||||||||||||||||||||
Italy | — | — | — | — | 14,580 | 14,660 | |||||||||||||||||||||||||||||
Jamaica | 63,793 | 101,858 | — | — | — | — | |||||||||||||||||||||||||||||
Japan | 10,699 | 12,037 | — | — | 48,800 | 38,548 | |||||||||||||||||||||||||||||
Korea | — | — | — | — | 1,866 | 1,839 | |||||||||||||||||||||||||||||
Luxembourg | 29,971 | 89,833 | — | — | — | — | |||||||||||||||||||||||||||||
Mexico | 917,182 | 838,495 | 110,224 | 83,561 | 45,777 | 62,229 | |||||||||||||||||||||||||||||
Netherlands | — | — | 11,565 | 800 | — | — | |||||||||||||||||||||||||||||
Norway | — | — | — | — | 9,800 | 9,838 | |||||||||||||||||||||||||||||
Panama | 346,473 | 374,364 | 33,716 | 29,301 | 66,458 | 33,977 | |||||||||||||||||||||||||||||
Paraguay | 226,379 | 186,426 | 250 | 230 | — | — | |||||||||||||||||||||||||||||
Peru | 487,359 | 536,236 | 227,198 | 223,460 | 30,544 | 30,635 | |||||||||||||||||||||||||||||
Singapore | 228,170 | 145,807 | 34,019 | 7,057 | — | — | |||||||||||||||||||||||||||||
Trinidad and Tobago | 131,779 | 132,783 | 30,000 | — | — | — | |||||||||||||||||||||||||||||
Sweden | — | — | — | — | 12,321 | — | |||||||||||||||||||||||||||||
United States of America | 70,911 | 74,139 | 1,620 | — | 583,573 | 539,727 | |||||||||||||||||||||||||||||
United Kingdom | 65,104 | 37,314 | 8,192 | — | 33,741 | 43,232 | |||||||||||||||||||||||||||||
Uruguay | 10,401 | 11,600 | 50,785 | 101,630 | — | — | |||||||||||||||||||||||||||||
Multilateral | — | — | — | — | — | — | |||||||||||||||||||||||||||||
Total | 7,399,951 | 7,195,567 | 1,781,721 | 1,325,134 | 1,036,637 | 999,544 |
(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated) |
Loans at FVOCI | Securities at FVOCI | ||||||||||||||||||||||
June 30, 2024 | December 31, 2023 | June 30, 2024 | December 31, 2023 | ||||||||||||||||||||
Carrying amount - principal | 19,789 | — | 97,722 | 11,824 | |||||||||||||||||||
Rating | |||||||||||||||||||||||
1-4 | 19,789 | — | 97,722 | — | |||||||||||||||||||
Total | 19,789 | — | 97,722 | — | |||||||||||||||||||
Concentration by country | |||||||||||||||||||||||
Guatemala | 19,789 | — | — | — | |||||||||||||||||||
Multilateral | — | — | 97,722 | 11,824 | |||||||||||||||||||
Total | 19,789 | — | 97,722 | 11,824 | |||||||||||||||||||
June 30, 2024 | |||||||||||||||||||||||||||||||||||
Gross amounts of assets | Gross amounts offset in the consolidated statement of financial position | Net amount of assets presented in the consolidated statement of financial position | Gross amounts not offset in the consolidated statement of financial position | Net amount | |||||||||||||||||||||||||||||||
Financial instruments | Cash collateral received | ||||||||||||||||||||||||||||||||||
Derivative financial instruments used for hedging | 92,652 | — | 92,652 | — | (48,011) | 44,641 | |||||||||||||||||||||||||||||
Total | 92,652 | — | 92,652 | — | (48,011) | 44,641 |
December 31, 2023 | |||||||||||||||||||||||||||||||||||
Gross amounts of assets | Gross amounts offset in the consolidated statement of financial position | Net amount of assets presented in the consolidated statement of financial position | Gross amounts not offset in the consolidated statement of financial position | Net amount | |||||||||||||||||||||||||||||||
Financial instruments | Cash collateral received | ||||||||||||||||||||||||||||||||||
Derivative financial instruments used for hedging | 157,267 | — | 157,267 | — | (152,111) | 5,156 | |||||||||||||||||||||||||||||
Total | 157,267 | — | 157,267 | — | (152,111) | 5,156 |
(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated) |
June 30, 2024 | ||||||||||||||||||||||||||||||||||||||
Gross amounts of liabilities | Gross amounts offset in the consolidated statement of financial position | Net amount of assets presented in the consolidated statement of financial position | Gross amounts not offset in the consolidated statement of financial position | Net amount | ||||||||||||||||||||||||||||||||||
Financial instruments | Cash collateral received | |||||||||||||||||||||||||||||||||||||
Securities sold under repurchase agreements at amortized cost | (302,765) | — | (302,765) | 326,580 | 634 | 24,448 | ||||||||||||||||||||||||||||||||
Derivative financial instruments used for hedging at FVTPL | (94,578) | — | (94,578) | 73,423 | — | (21,155) | ||||||||||||||||||||||||||||||||
Total | (397,343) | — | (397,343) | 400,003 | 634 | 3,293 |
December 31, 2023 | ||||||||||||||||||||||||||||||||||||||
Gross amounts of liabilities | Gross amounts offset in the consolidated statement of financial position | Net amount of assets presented in the consolidated statement of financial position | Gross amounts not offset in the consolidated statement of financial position | Net amount | ||||||||||||||||||||||||||||||||||
Financial instruments | Cash collateral received | |||||||||||||||||||||||||||||||||||||
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 |
(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated) |
June 30, 2024 | December 31, 2023 | ||||||||||
At the end of the period | 152.77 | % | 205.80 | % | |||||||
Period average | 214.91 | % | 177.20 | % | |||||||
Maximum of the period | 335.28 | % | 357.00 | % | |||||||
Minimun of the period | 107.20 | % | 111.50 | % |
June 30, 2024 | December 31, 2023 | ||||||||||||||||||||||||||||||||||
(in millions of USD dollars) | Cash and due from banks | Securities FVOCI | Total | Cash and due from banks | Securities FVOCI | Total | |||||||||||||||||||||||||||||
United State of America | 1,597 | — | 1,597 | 1,597 | 1,904 | — | 1,904 | ||||||||||||||||||||||||||||
Other O.E.C.D countries | 100 | — | 100 | — | — | — | |||||||||||||||||||||||||||||
Latin America | 4 | — | 4 | 7 | — | 7 | |||||||||||||||||||||||||||||
Other countries | — | — | — | 1 | — | 1 | |||||||||||||||||||||||||||||
Multilateral | 100 | 98 | 198 | 75 | 12 | 87 | |||||||||||||||||||||||||||||
Total | 1,801 | 98 | 1,899 | 1,987 | 12 | 1,999 |
June 30, 2024 | December 31, 2023 | ||||||||||
(in millions of USD dollars) | |||||||||||
Demand and "overnight" deposits | 1,239 | 748 | |||||||||
Demand and "overnight" deposits to total deposits | 23.56 | % | 17.00 | % |
June 30, 2024 | December 31, 2023 | ||||||||||
(in millions of USD dollars) | |||||||||||
Total liquid assets | 1,899 | 1,999 | |||||||||
Total assets to total liabilities | 36.10 | % | 45.40 | % | |||||||
Total liquid assets in the Federal Reserve of the United States of America | 79.47 | % | 94.30 | % |
(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated) |
June 30, 2024 | December 31, 2023 | ||||||||||
(in millions of USD dollars) | |||||||||||
Loan portfolio at amortized cost and investment portfolio less than/equal to 1 year according to its original terms | 4,499 | 4,087 | |||||||||
Average term (days) | 198 | 197 |
June 30, 2024 | December 31, 2023 | ||||||||||
(in millions of USD dollars) | |||||||||||
Loan portfolio at amortized cost and investment portfolio greater than/equal to 1 year according to its original terms | 4,055 | 4,119 | |||||||||
Average term (days) | 1426 | 1381 |
(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated) |
June 30, 2024 | ||||||||||||||||||||||||||||||||||||||||||||
Up to 3 months | 3 to 6 months | 6 months to 1 year | 1 to 5 years | More than 5 years | Gross inflows (outflows) | Carrying amount | ||||||||||||||||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||||||||||||||||||
Cash and due from banks | 1,884,818 | 15,641 | 5,286 | — | — | 1,905,745 | 1,903,541 | |||||||||||||||||||||||||||||||||||||
Securities | 50,603 | 39,322 | 175,767 | 964,672 | 50,757 | 1,281,121 | 1,146,446 | |||||||||||||||||||||||||||||||||||||
Loans | 2,462,760 | 1,498,667 | 1,675,700 | 2,339,025 | 202,246 | 8,178,398 | 7,443,597 | |||||||||||||||||||||||||||||||||||||
Derivative financial instruments - assets | 3,572 | 34,820 | 35,329 | 17,913 | 1,018 | 92,652 | 92,652 | |||||||||||||||||||||||||||||||||||||
Total | 4,401,753 | 1,588,450 | 1,892,082 | 3,321,610 | 254,021 | 11,457,916 | 10,586,236 | |||||||||||||||||||||||||||||||||||||
Liabilities | ||||||||||||||||||||||||||||||||||||||||||||
Deposits | (4,286,894) | (550,487) | (466,984) | (66,669) | — | (5,371,034) | (5,321,142) | |||||||||||||||||||||||||||||||||||||
Securities sold under repurchase agreements | (269,175) | — | — | (33,590) | — | (302,765) | (302,765) | |||||||||||||||||||||||||||||||||||||
Borrowings and debt | (660,232) | (513,236) | (340,514) | (1,939,051) | (106,974) | (3,560,007) | (3,540,487) | |||||||||||||||||||||||||||||||||||||
Interest payable - Borrowings and debt | (29,641) | (37,397) | (49,306) | (220,381) | (9,089) | (345,814) | (37,310) | |||||||||||||||||||||||||||||||||||||
Lease liabilities | (300) | (284) | (587) | (4,738) | (10,239) | (16,148) | (16,148) | |||||||||||||||||||||||||||||||||||||
Derivative financial instruments - liabilities | (27,806) | (2,884) | (2,734) | (51,853) | (9,301) | (94,578) | (94,578) | |||||||||||||||||||||||||||||||||||||
Total | (5,274,048) | (1,104,288) | (860,125) | (2,316,282) | (135,603) | (9,690,346) | (9,312,430) | |||||||||||||||||||||||||||||||||||||
Subtotal net position | (872,295) | 484,162 | 1,031,957 | 1,005,328 | 118,418 | 1,767,570 | 1,273,806 | |||||||||||||||||||||||||||||||||||||
Off-balance sheet contingencies | ||||||||||||||||||||||||||||||||||||||||||||
Confirmed letters of credit | 359,099 | 68,820 | 23,116 | — | — | 451,035 | ||||||||||||||||||||||||||||||||||||||
Stand-by letters of credit and guarantees | 87,223 | 110,839 | 241,924 | 24,170 | — | 464,156 | ||||||||||||||||||||||||||||||||||||||
Credit commitments | 295,980 | 49,045 | 339 | 211,347 | 24,822 | 581,533 | ||||||||||||||||||||||||||||||||||||||
Total | 742,302 | 228,704 | 265,379 | 235,517 | 24,822 | 1,496,724 | ||||||||||||||||||||||||||||||||||||||
Total net position | (1,614,597) | 255,458 | 766,578 | 769,811 | 93,596 | 270,846 |
(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated) |
December 31, 2023 | ||||||||||||||||||||||||||||||||||||||||||||
Up to 3 months | 3 to 6 months | 6 months to 1 year | 1 to 5 years | More than 5 years | Gross inflows (outflows) | Carrying amount | ||||||||||||||||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||||||||||||||||||
Cash and due from banks | 2,048,021 | — | — | — | — | 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 | (775,691) | (675,928) | (896,342) | (1,963,189) | (54,126) | (4,365,276) | (4,351,988) | |||||||||||||||||||||||||||||||||||||
Interest payable - Borrowings and debt | (80,775) | (70,386) | (93,338) | (204,431) | (5,636) | (454,566) | (49,217) | |||||||||||||||||||||||||||||||||||||
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 | 37,546 | 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 |
(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated) |
Type of financial instrument | Basis on which amounts are compiled | |||||||
Financial assets and liabilities | Undiscounted cash flows, which include estimated interest payments. | |||||||
Issued financial guarantee contracts, and loan commitments | Earliest possible contractual maturity. For issued financial guarantee contracts, the maximum amount of the guarantee is allocated to the earliest period in which the guarantee could be called. | |||||||
Derivative financial assets and financial liabilities | Contractual undiscounted cash flows. The amounts shown are the gross nominal inflows and outflows for derivatives that simultaneously settle gross or net amounts. |
June 30, 2024 | December 31, 2023 | ||||||||||||||||||||||
Amount | Fair value | Amount | Fair value | ||||||||||||||||||||
Balances with Federal Reserve of the United States of America | 1,509,001 | 1,509,001 | 1,884,204 | 1,884,204 | |||||||||||||||||||
Cash and balances with other bank (1) | 292,134 | 292,134 | 102,864 | 102,864 | |||||||||||||||||||
Total Liquidity reserves | 1,801,135 | 1,801,135 | 1,987,068 | 1,987,068 |
June 30, 2024 | December 31, 2023 | ||||||||||||||||||||||
Guaranteed | Available as collateral | Guaranteed | Available as collateral | ||||||||||||||||||||
Cash and due from banks | 102,406 | 1,801,135 | 60,384 | 1,987,068 | |||||||||||||||||||
Notional of investment securities | 353,245 | 815,325 | 400,825 | 619,533 | |||||||||||||||||||
Loans at amortized cost | — | 7,399,951 | — | 7,195,567 | |||||||||||||||||||
Total assets | 455,651 | 10,016,411 | 461,209 | 9,802,168 |
(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated) |
June 30, 2024 | |||||||||||||||||||||||||||||||||||||||||
Up to 3 months | 3 to 6 months | 6 months to 1 year | 1 to 5 years | More than 5 years | Without interest rate risk | Total | |||||||||||||||||||||||||||||||||||
Assets | |||||||||||||||||||||||||||||||||||||||||
Cash and due from banks | 1,864,029 | 15,000 | 5,000 | — | — | 19,512 | 1,903,541 | ||||||||||||||||||||||||||||||||||
Securities | 50,387 | 38,881 | 171,238 | 841,175 | 32,678 | — | 1,134,359 | ||||||||||||||||||||||||||||||||||
Loans | 4,302,062 | 1,835,009 | 1,012,879 | 254,885 | 14,905 | — | 7,419,740 | ||||||||||||||||||||||||||||||||||
Total | 6,216,478 | — | 1,888,890 | — | 1,189,117 | — | 1,096,060 | — | 47,583 | — | 19,512 | 10,457,640 | |||||||||||||||||||||||||||||
Liabilities | |||||||||||||||||||||||||||||||||||||||||
Demand deposits and time deposits | (4,419,433) | (368,695) | (417,373) | (53,725) | — | (61,916) | (5,321,142) | ||||||||||||||||||||||||||||||||||
Securities sold under repurchase agreements | (302,765) | — | — | — | — | — | (302,765) | ||||||||||||||||||||||||||||||||||
Borrowings and debt | (1,929,691) | (738,081) | (298,545) | (574,170) | — | — | (3,540,487) | ||||||||||||||||||||||||||||||||||
Total | (6,651,889) | — | (1,106,776) | — | (715,918) | — | (627,895) | — | — | — | (61,916) | (9,164,394) | |||||||||||||||||||||||||||||
Net effect of derivative financial instruments held for interest risk management | (24,225) | 31,936 | 32,623 | (33,896) | (8,282) | — | (1,844) | ||||||||||||||||||||||||||||||||||
Total interest rate sensitivity | (459,636) | — | 814,050 | — | 505,822 | — | 434,269 | — | 39,301 | — | (42,404) | 1,291,402 |
(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated) |
December 31, 2023 | |||||||||||||||||||||||||||||||||||||||||
Up to 3 months | 3 to 6 months | 6 months to 1 year | 1 to 5 years | More than 5 years | Without interest rate risk | 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 |
Change in interest rate | Effect on profit or loss | Effect on equity | Effect on equity value (EVE) | ||||||||||||||||||||
June 30, 2024 | +50 bps | 534 | 3,210 | (13,625) | |||||||||||||||||||
-50 bps | (772) | (3,653) | 13,853 | ||||||||||||||||||||
December 31, 2023 | +50 bps | 1,669 | 3,881 | (9,047) | |||||||||||||||||||
-50 bps | (1,786) | (2,861) | 9,199 |
(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated) |
June 30, 2024 | |||||||||||||||||||||||||||||||||||||||||
Brazilian Real | European Euro | Japanese Yen | Colombian Peso | Mexican Peso | Other Currencies (1) | Total | |||||||||||||||||||||||||||||||||||
Exchance rate | 5.59 | 1.07 | 160.82 | 4,149.38 | 18.31 | ||||||||||||||||||||||||||||||||||||
Assets | |||||||||||||||||||||||||||||||||||||||||
Cash and due from banks | 71 | 301 | 2 | 41 | 719 | 16 | 1,150 | ||||||||||||||||||||||||||||||||||
Loans | — | 29,455 | — | — | 278,425 | — | 307,880 | ||||||||||||||||||||||||||||||||||
Total Assets | 71 | 29,756 | 2 | 41 | 279,144 | 16 | 309,030 | ||||||||||||||||||||||||||||||||||
Liabilities | |||||||||||||||||||||||||||||||||||||||||
Borrowings and debt | — | (29,455) | — | — | (279,377) | — | (308,832) | ||||||||||||||||||||||||||||||||||
Total liabilities | — | (29,455) | — | — | (279,377) | — | (308,832) | ||||||||||||||||||||||||||||||||||
Net currency position | 71 | 301 | 2 | 41 | (233) | 16 | 198 |
December 31, 2023 | |||||||||||||||||||||||||||||||||||||||||
Brazilian Real | European Euro | Japanese Yen | Colombian Peso | Mexican Peso | Other Currencies (1) | Total | |||||||||||||||||||||||||||||||||||
Exchance 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 Assets | 10 | 30,747 | 45 | 35 | 305,843 | 14 | 336,694 | ||||||||||||||||||||||||||||||||||
Liabilities | |||||||||||||||||||||||||||||||||||||||||
Borrowings and debt | — | (30,360) | — | — | (305,631) | — | (335,991) | ||||||||||||||||||||||||||||||||||
Total liabilities | — | (30,360) | — | — | (305,631) | — | (335,991) | ||||||||||||||||||||||||||||||||||
Net currency position | 10 | 387 | 45 | 35 | 212 | 14 | 703 |
(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated) |
June 30, 2024 | |||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||||
Assets | |||||||||||||||||||||||
Securities and other financial assets: | |||||||||||||||||||||||
Securities at FVOCI - Corporate debt | — | 98,459 | — | 98,459 | |||||||||||||||||||
Loans at FVOCI | — | 19,905 | — | 19,905 | |||||||||||||||||||
Total securities and other financial assets | — | 118,364 | — | 118,364 | |||||||||||||||||||
Derivative financial instruments - assets: | |||||||||||||||||||||||
Interest rate swaps | — | 15,422 | — | 15,422 | |||||||||||||||||||
Cross-currency swaps | — | 77,230 | — | 77,230 | |||||||||||||||||||
Total derivative financial instrument assets | — | 92,652 | — | 92,652 | |||||||||||||||||||
Total assets at fair value | — | 211,017 | — | 211,017 | |||||||||||||||||||
Liabilities | |||||||||||||||||||||||
Derivative financial instruments - liabilities: | |||||||||||||||||||||||
Interest rate swaps | — | 4,323 | — | 4,323 | |||||||||||||||||||
Cross-currency swaps | — | 90,255 | — | 90,255 | |||||||||||||||||||
Total derivative financial instruments - liabilities | — | 94,578 | — | 94,578 | |||||||||||||||||||
Total liabilities at fair value | — | 94,578 | — | 94,578 |
(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated) |
December 31, 2023 | |||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||||
Assets | |||||||||||||||||||||||
Securities and other financial assets: | |||||||||||||||||||||||
Securities at FVOCI - Corporate debt | — | 11,865 | — | 11,865 | |||||||||||||||||||
Total securities and other financial assets | — | 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 |
(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated) |
June 30, 2024 | |||||||||||||||||||||||||||||
Carrying amount | Fair value | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||||
Assets | |||||||||||||||||||||||||||||
Cash and deposits in banks | 1,903,541 | 1,903,541 | — | 1,903,541 | — | ||||||||||||||||||||||||
Securities at amortized cost (1) | 1,048,025 | 1,039,646 | — | 1,039,646 | — | ||||||||||||||||||||||||
Loans at amortized cost (2) | 7,443,597 | 7,676,321 | — | 7,676,321 | — | ||||||||||||||||||||||||
Customers' liabilities under acceptances | 284,997 | 284,997 | — | 284,997 | — | ||||||||||||||||||||||||
Liabilities | |||||||||||||||||||||||||||||
Deposits | 5,321,142 | 5,321,142 | — | 5,321,142 | — | ||||||||||||||||||||||||
Securities sold under repurchase agreements | 302,765 | 302,765 | — | 302,765 | — | ||||||||||||||||||||||||
Borrowings and debt, net | 3,540,487 | 3,725,834 | — | 3,725,834 | — | ||||||||||||||||||||||||
Acceptances outstanding | 284,997 | 284,997 | — | 284,997 | — |
December 31, 2023 | |||||||||||||||||||||||||||||
Carrying amount | Fair value | 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, net (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 | — |
(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated) |
June 30, 2024 | December 31, 2023 | ||||||||||
Unrestricted deposits with the Federal Reserve of the United States of America | 1,509,001 | 1,884,204 | |||||||||
Cash and non-interest-bearing deposits in other banks | 19,512 | 3,349 | |||||||||
Cash and interest-bearing deposits in other banks(1) | 375,028 | 159,899 | |||||||||
Total cash and due from banks | 1,903,541 | 2,047,452 | |||||||||
Less: | |||||||||||
Time deposits with original maturity over 90 days and other restricted deposits (1) | 102,406 | 60,384 | |||||||||
Total cash and due from banks in the condensed consolidated interim statement of cash flows | 1,801,135 | 1,987,068 |
June 30, 2024 | December 31, 2023 | ||||||||||
Canada | — | 5,342 | |||||||||
Chile | 20,000 | — | |||||||||
Germany | 12,863 | 5,775 | |||||||||
Japan | 28,180 | 14,820 | |||||||||
Netherlands | 2,820 | — | |||||||||
Panama | 3,350 | — | |||||||||
Spain | 234 | — | |||||||||
Switzerland | — | 13,747 | |||||||||
United Kingdom | 230 | — | |||||||||
United States of America(1) | 34,729 | 20,700 | |||||||||
Total | 102,406 | 60,384 |
(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated) |
June 30, 2024 | Amortized cost | FVOCI | Total | ||||||||||||||
Principal | 1,036,637 | 97,722 | 1,134,359 | ||||||||||||||
Interest receivable | 12,728 | 737 | 13,465 | ||||||||||||||
Allowance (1) | (1,340) | — | (1,340) | ||||||||||||||
1,048,025 | 98,459 | 1,146,484 |
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 |
June 30, 2024 | Amortized cost | FVOCI | Total | |||||||||||||||||
Due within 1 year | 230,659 | 29,848 | 260,506 | |||||||||||||||||
After 1 year but within 5 years | 773,301 | 67,874 | 841,175 | |||||||||||||||||
After 5 years but within 10 years | 32,678 | — | 32,678 | |||||||||||||||||
Balance - principal | 1,036,637 | 97,722 | 1,134,359 |
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 |
June 30, 2024 | December 31, 2023 | ||||||||||
Securities pledged to secure repurchase transactions | 326,580 | 342,271 | |||||||||
Securities sold under repurchase agreements | (302,765) | (310,197) |
(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated) |
June 30, 2024 | Amortized cost | FVOCI | Total | ||||||||||||||
Loans, outstanding balance | 7,399,951 | 19,789 | 7,419,740 | ||||||||||||||
Interest receivable | 104,885 | 116 | 105,001 | ||||||||||||||
Allowance | (63,169) | — | (63,169) | ||||||||||||||
Unearned interest and deferred fees | (17,975) | — | (17,975) | ||||||||||||||
Loans, net | 7,423,692 | 19,905 | 7,443,597 |
December 31, 2023 | Amortized cost | FVOCI | Total | ||||||||||||||
Loans, outstanding balance | 7,195,567 | — | 7,195,567 | ||||||||||||||
Interest receivable | 109,082 | — | 109,082 | ||||||||||||||
Allowance | (59,410) | — | (59,410) | ||||||||||||||
Unearned interest and deferred fees | (24,719) | — | (24,719) | ||||||||||||||
Loans, net | 7,220,520 | — | 7,220,520 | ||||||||||||||
June 30, 2024 | December 31, 2023 | ||||||||||
Fixed interest rate | 4,305,195 | 3,828,485 | |||||||||
Floating interest rates | 3,114,545 | 3,367,082 | |||||||||
Total | 7,419,740 | 7,195,567 |
June 30, 2024 | December 31, 2023 | ||||||||||
Loans to class A and B shareholders | 383,859 | 397,300 | |||||||||
% Loans to class A and B shareholders over total loan portfolio | 5 | % | 6 | % | |||||||
% Class A and B stockholders with loans over number of class A and B stockholders | 9 | % | 10 | % |
(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated) |
June 30, 2024 | December 31, 2023 | ||||||||||
Documentary letters of credit | 451,035 | 345,608 | |||||||||
Stand-by letters of credit and guarantees - commercial risk | 464,156 | 490,626 | |||||||||
Commitments loans | 439,717 | 227,472 | |||||||||
Commitments letters of credit | 141,816 | — | |||||||||
Total | 1,496,724 | 1,063,706 |
June 30, 2024 | December 31, 2023 | ||||||||||
Up to 1 year | 1,259,611 | 901,716 | |||||||||
From 1 to 2 years | 109,491 | 84,581 | |||||||||
Over 2 to 5 years | 112,800 | 77,409 | |||||||||
More than 5 years | 14,822 | — | |||||||||
Total | 1,496,724 | 1,063,706 |
Three months ended June 30, | Six months ended June 30, | ||||||||||||||||||||||
2024 | 2023 | 2024 | 2023 | ||||||||||||||||||||
(Loss) gain on derivative financial instruments and foreign currency exchange, net | (351) | (1,837) | (191) | 1,234 | |||||||||||||||||||
Loss on sale of financial instruments at amortized cost | — | (1,800) | — | (3,167) | |||||||||||||||||||
Total | (351) | (3,637) | (191) | (1,933) |
(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated) |
June 30, 2024 | |||||||||||||||||
Notional amount(2) | Carrying amount of hedging instruments | ||||||||||||||||
Asset (1) | Liability (1) | ||||||||||||||||
Interest rate risk | |||||||||||||||||
Fair value hedges | 1,070,283 | 15,422 | (4,323) | ||||||||||||||
Interest rate and foreign exchange risk | |||||||||||||||||
Fair value hedges | 239,797 | 16,524 | (6,332) | ||||||||||||||
Cash flow hedges | 1,271,090 | 60,706 | (83,923) | ||||||||||||||
2,581,170 | 92,652 | (94,578) |
December 31, 2023 | |||||||||||||||||
Notional amount(2) | Carrying amount of hedging instruments | ||||||||||||||||
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) |
(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated) |
June 30, 2024 | |||||||||||||||||||||||||||||
Notional amount | Carrying amount of hedging instruments | Changes in fair value used to calculate hedge ineffectiveness (2) | Ineffectiveness recognized in profit or loss (2) | ||||||||||||||||||||||||||
Asset (1) | Liability (1) | ||||||||||||||||||||||||||||
Interest rate risk | |||||||||||||||||||||||||||||
Loans | 10,000 | — | (918) | (112) | 3 | ||||||||||||||||||||||||
Deposits | 242,000 | 10,092 | (59) | (689) | — | ||||||||||||||||||||||||
Repurchase agreements | 33,617 | — | (40) | (32) | (5) | ||||||||||||||||||||||||
Borrowings and debt | 784,666 | 5,331 | (3,306) | (10,699) | 427 | ||||||||||||||||||||||||
Interest rate and foreign exchange risk | |||||||||||||||||||||||||||||
Loans | 2,966 | 30 | — | 41 | — | ||||||||||||||||||||||||
Borrowings and debt | 236,831 | 16,493 | (6,332) | (23,994) | (90) | ||||||||||||||||||||||||
Total | 1,310,080 | 31,946 | (10,655) | (35,485) | 335 |
December 31, 2023 | |||||||||||||||||||||||||||||
Notional amount | Carrying amount of hedging instruments | Changes in fair value used to calculate hedge ineffectiveness (2) | Ineffectiveness recognized in profit or loss (2) | ||||||||||||||||||||||||||
Asset (1) | Liability (1) | ||||||||||||||||||||||||||||
Interest rate risk | |||||||||||||||||||||||||||||
Loans | 10,000 | — | (519) | (113) | 7 | ||||||||||||||||||||||||
Securities at amortized cost | 10,000 | 101 | — | (109) | 144 | ||||||||||||||||||||||||
Deposits | |||||||||||||||||||||||||||||
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 |
(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated) |
June 30, 2024 | |||||||||||||||||||||||||||||
Carrying amount of hedged items | Line in the consolidated statement of financial position that includes the carrying amount of the hedged items | Accumulated amount of fair value hedge adjustments included in the carrying amount of the hedged items | Changes in fair value of the hedged items used to calculate hedge ineffectiveness(1) | ||||||||||||||||||||||||||
Asset | Liability | ||||||||||||||||||||||||||||
Interest rate risk | |||||||||||||||||||||||||||||
Loans | 11,062 | — | Loans, net | (20) | 115 | ||||||||||||||||||||||||
Deposits | — | (253,591) | Demand Deposits | 153 | 689 | ||||||||||||||||||||||||
Repurchase agreements | — | (33,640) | 27 | 27 | |||||||||||||||||||||||||
Borrowings and debt | — | (289,414) | Borrowings and debt, net | 6,556 | 11,126 | ||||||||||||||||||||||||
Interest rate and foreign exchange risk | |||||||||||||||||||||||||||||
Loans | 2,949 | — | Loans, net | (40) | (40) | ||||||||||||||||||||||||
Borrowings and debt | — | (248,973) | Borrowings and debt, net | (7,219) | 23,903 | ||||||||||||||||||||||||
Total | 14,011 | (825,618) | (543) | 35,820 |
December 31, 2023 | |||||||||||||||||||||||||||||
Carrying amount of hedged items | Line in the consolidated statement of financial position that includes the carrying amount of the hedged items | Accumulated amount of fair value hedge adjustments included in the carrying amount of the hedged items | 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 | ||||||||||||||||||||||||
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) | (33,801) | ||||||||||||||||||||||||
Total | 20,719 | (983,924) | (24,061) | (38,992) |
(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated) |
June 30, 2024 | |||||||||||||||||
Interest rate swaps | Cross currency swaps | Total | |||||||||||||||
Less than 1 year | 323,455 | 87,614 | 411,069 | ||||||||||||||
Over 1 to 2 years | 47,845 | — | 47,845 | ||||||||||||||
Over 2 to 5 years | 596,328 | 142,059 | 738,387 | ||||||||||||||
More than 5 years | 102,655 | 10,124 | 112,779 | ||||||||||||||
Total | 1,070,283 | 239,797 | 1,310,080 |
December 31, 2023 | |||||||||||||||||
Interest rate swaps | 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 |
(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated) |
Three months ended June 30, 2024 | Six months ended June 30, 2024 | ||||||||||||||||||||||||||||||||||
Current | Overdue | Total | Current | Overdue | Total | ||||||||||||||||||||||||||||||
Ineffectiveness recognized in profit or loss | |||||||||||||||||||||||||||||||||||
Interest rate risk | |||||||||||||||||||||||||||||||||||
Loans | 1 | — | 1 | 3 | — | 3 | |||||||||||||||||||||||||||||
Securities at amortized cost | 79 | (82) | (3) | — | (82) | (82) | |||||||||||||||||||||||||||||
Deposits | 1 | (1) | — | — | (1) | (1) | |||||||||||||||||||||||||||||
Repurchase agreements | 54 | — | 54 | (5) | — | (5) | |||||||||||||||||||||||||||||
Borrowings and debt | 427 | 4 | 431 | 427 | 4 | 431 | |||||||||||||||||||||||||||||
Interest rate and foreign exchange risk | |||||||||||||||||||||||||||||||||||
Loans | 1 | — | 1 | 1 | — | 1 | |||||||||||||||||||||||||||||
Borrowings and debt | (341) | (15) | (356) | (91) | 72 | (19) | |||||||||||||||||||||||||||||
Total | 222 | (94) | 128 | 335 | (7) | 328 |
Three months ended June 30, 2023 | Six months ended June 30, 2023 | ||||||||||||||||||||||||||||||||||
Current | Overdue | Total | Current | Overdue | Total | ||||||||||||||||||||||||||||||
Ineffectiveness recognized in profit or loss | |||||||||||||||||||||||||||||||||||
Interest rate risk | |||||||||||||||||||||||||||||||||||
Loans | (304) | 272 | (32) | (303) | 305 | 2 | |||||||||||||||||||||||||||||
Securities at amortized cost | (15) | 46 | 31 | (15) | 84 | 69 | |||||||||||||||||||||||||||||
Deposits | 2 | — | 2 | 2 | — | 2 | |||||||||||||||||||||||||||||
Borrowings and debt | 61 | (127) | (66) | 61 | — | 61 | |||||||||||||||||||||||||||||
Interest rate and foreign exchange risk | |||||||||||||||||||||||||||||||||||
Loans | 27 | 467 | 494 | — | 467 | 467 | |||||||||||||||||||||||||||||
Borrowings and debt | 1,544 | (3,862) | (2,318) | 1,544 | (1,252) | 292 | |||||||||||||||||||||||||||||
Total | 1,315 | (3,204) | (1,889) | 1,289 | (396) | 893 |
(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated) |
June 30, 2024 | |||||||||||||||||||||||||||||||||||||||||
Carrying amount of hedging instruments | Change in fair value used for calculating hedge ineffectiveness | Changes in the fair value of the hedging instruments recognized in OCI (2) | Ineffectiveness recognized in profit or loss (3) | Amount reclassified from the hedge reserve to profit or loss (3) | |||||||||||||||||||||||||||||||||||||
Notional amount | Asset (1) | Liability (1) | |||||||||||||||||||||||||||||||||||||||
Interest rate and foreign exchange risk | |||||||||||||||||||||||||||||||||||||||||
Loans | 11,504 | 29 | — | 23 | 9 | (13) | — | ||||||||||||||||||||||||||||||||||
Borrowings and debt | 1,259,586 | 60,677 | (83,923) | (94,471) | (94,461) | 9 | 13 | ||||||||||||||||||||||||||||||||||
Total | 1,271,090 | 60,706 | (83,923) | (94,448) | (94,452) | (4) | 13 |
December 31, 2023 | |||||||||||||||||||||||||||||||||||||||||
Carrying amount of hedging instruments | Change in fair value used for calculating hedge ineffectiveness | Changes in the fair value of the hedging instruments recognized in OCI (2) | Ineffectiveness recognized in profit or loss (3) | Amount reclassified from the hedge reserve to profit or loss (3) | |||||||||||||||||||||||||||||||||||||
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) |
(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated) |
June 30, 2024 | |||||||||||||||||||||||||||||
Carrying amount of hedged items | Line in the consolidated statement of financial position that includes the carrying amount of the hedged items | Changes in the fair value of the hedged items used to calculate the hedge ineffectiveness | Cash flow hedge reserve | ||||||||||||||||||||||||||
Asset | Liability | ||||||||||||||||||||||||||||
Interest rate and foreign exchange risk | |||||||||||||||||||||||||||||
Loans | 11,494 | — | (23) | — | |||||||||||||||||||||||||
Borrowings and debt | — | (1,254,767) | Borrowings and debt, net | 94,471 | (149) | ||||||||||||||||||||||||
Total | 11,494 | (1,254,767) | 94,448 | (149) |
December 31, 2023 | |||||||||||||||||||||||||||||
Carrying amount of hedged items | Line in the consolidated statement of financial position that includes the carrying amount of the hedged items | Changes in the fair value of the hedged items used to calculate the hedge ineffectiveness | Cash flow hedge reserve | ||||||||||||||||||||||||||
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) |
(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated) |
June 30, 2024 | ||||||||||||||||||||||||||
Foreign exchange forward contracts | Interest rate swaps | Cross currency swaps | Total | |||||||||||||||||||||||
Less than 1 year | — | — | 630,086 | 630,086 | ||||||||||||||||||||||
Over 1 to 2 years | — | — | 110,881 | 110,881 | ||||||||||||||||||||||
Over 2 to 5 years | — | — | 427,468 | 427,468 | ||||||||||||||||||||||
More than 5 years | — | — | 102,655 | 102,655 | ||||||||||||||||||||||
Total | — | — | 1,271,090 | 1,271,090 |
December 31, 2023 | ||||||||||||||||||||||||||
Foreign exchange forward contracts | Interest rate swaps | 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 |
Three months ended June 30, 2024 | Six months ended June 30, 2024 | ||||||||||||||||||||||||||||||||||
Current | Overdue | Total | Current | Overdue | Total | ||||||||||||||||||||||||||||||
Ineffectiveness recognized in profit or loss | |||||||||||||||||||||||||||||||||||
Interest rate and foreign exchange risk | — | ||||||||||||||||||||||||||||||||||
Loans | (13) | — | (13) | (13) | — | (13) | |||||||||||||||||||||||||||||
Borrowings and debt | (68) | 12 | (56) | 9 | 13 | 22 | |||||||||||||||||||||||||||||
Total | (81) | 12 | (69) | (4) | 13 | 9 |
Three months ended June 30, 2023 | Six months ended June 30, 2023 | ||||||||||||||||||||||||||||||||||
Current | Overdue | Total | Current | Overdue | Total | ||||||||||||||||||||||||||||||
Ineffectiveness recognized in profit or loss | |||||||||||||||||||||||||||||||||||
Interest rate and foreign exchange risk | |||||||||||||||||||||||||||||||||||
Borrowings and debt | — | — | — | 317 | — | 317 | |||||||||||||||||||||||||||||
Total | — | — | — | 317 | — | 317 |
(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated) |
June 30, 2024 | December 31, 2023 | ||||||||||
Accounts receivable financial instruments | 3,318 | 4,844 | |||||||||
Prepaid expenses | 2,587 | 2,174 | |||||||||
Prepaid fees and commissions | 627 | 451 | |||||||||
Interest receivable - deposits | 1,879 | 1,603 | |||||||||
IT projects under development | 2,947 | 1,802 | |||||||||
Improvement project under development | 1,139 | 396 | |||||||||
Severance fund | 2,360 | 2,169 | |||||||||
Other | 2,060 | 2,156 | |||||||||
Total | 16,917 | 15,595 |
Remaining Term | Original Term | ||||||||||||||||||||||
June 30, 2024 | December 31, 2023 | June 30, 2024 | December 31, 2023 | ||||||||||||||||||||
Demand | 644,179 | 510,195 | 644,179 | 510,195 | |||||||||||||||||||
Up to 1 month | 2,439,239 | 2,026,454 | 1,392,356 | 1,336,379 | |||||||||||||||||||
From 1 month to 3 months | 1,149,317 | 704,765 | 944,041 | 758,728 | |||||||||||||||||||
From 3 month to 6 months | 524,698 | 517,359 | 797,914 | 675,106 | |||||||||||||||||||
From 6 month to 1 year | 443,600 | 570,033 | 1,258,520 | 892,221 | |||||||||||||||||||
From 1 year to 2 years | 53,251 | 77,843 | 198,671 | 216,430 | |||||||||||||||||||
From 2 years to 5 years | 4,941 | 1,500 | 23,544 | 19,090 | |||||||||||||||||||
Total | 5,259,225 | 4,408,149 | 5,259,225 | 4,408,149 |
June 30, 2024 | December 31, 2023 | ||||||||||
Aggregate amount of $100,000 or more | 5,258,854 | 4,407,608 | |||||||||
Aggregate amount of deposits in the New York Agency | 1,609,820 | 1,250,524 |
Three months ended June 30, | Six months ended June 30, | ||||||||||||||||||||||
2024 | 2023 | 2024 | 2023 | ||||||||||||||||||||
Interest expense on deposits made in the New York Agency | 23,664 | 11,194 | 43,361 | 19,648 |
(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated) |
June 30, 2024 | December 31, 2023 | |||||||||||||
Financing transactions under repurchase agreements | 302,765 | 310,197 | ||||||||||||
Three months ended June 30, | Six months ended June 30, | ||||||||||||||||||||||
2024 | 2023 | 2024 | 2023 | ||||||||||||||||||||
Interest expense on financing contracts under repurchase agreement | 3,592 | 2,698 | 6,156 | 4,565 |
June 30, 2024 | |||||||||||||||||||||||||||||
Short-Term | Long-term | ||||||||||||||||||||||||||||
Borrowings | Debt | Borrowings | Debt | Total | |||||||||||||||||||||||||
Principal | 734,876 | 102,211 | 642,775 | 2,070,548 | 3,550,409 | ||||||||||||||||||||||||
Transaction costs | (108) | — | (3,717) | (6,098) | (9,923) | ||||||||||||||||||||||||
734,768 | 102,211 | 639,058 | 2,064,450 | 3,540,487 |
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 |
(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated) |
June 30, 2024 | December 31, 2023 | ||||||||||
Short-term borrowings: | |||||||||||
At fixed interest rates | 378,766 | 732,336 | |||||||||
At floating interest rates | 356,110 | 905,970 | |||||||||
Principal | 734,876 | 1,638,306 | |||||||||
Less: Transaction costs | (108) | (262) | |||||||||
Total short-term borrowings, net | 734,768 | 1,638,044 | |||||||||
Short-term debt: | |||||||||||
At fixed interest rates | 102,211 | 1,536 | |||||||||
At floating interest rates | — | 85,065 | |||||||||
Principal | 102,211 | 86,601 | |||||||||
Less: Transaction costs | — | (40) | |||||||||
Total short-term debt, net | 102,211 | 86,561 | |||||||||
Total short-term borrowings and debt | 836,979 | 1,724,605 | |||||||||
Range of fixed interest rates on borrowings and debt in U.S. dollars | 5.44% to 6.39% | 5.44% to 6.50% | |||||||||
Range of floating interest rates on borrowings in U.S. dollars | 6.05% to 6.05% | 6.08% to 6.33% | |||||||||
Range of floating interest rates on borrowings and debt in Mexican pesos | 11.54% to 12.35% | 11.77% to 12.65% | |||||||||
Range of floating interest rates on borrowings in Euro | 4.42 | % | — | % | |||||||
June 30, 2024 | December 31, 2023 | ||||||||||
US dollar | 524,977 | 1,084,872 | |||||||||
Japanese yen | — | 576,527 | |||||||||
Euros | 29,455 | — | |||||||||
Mexican peso | 282,655 | 63,508 | |||||||||
Carrying amount - principal | 837,087 | 1,724,907 |
(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated) |
June 30, 2024 | December 31, 2023 | ||||||||||
Long-term borrowings: | |||||||||||
At floating interest rates with due dates from March 2026 to June 2027 | 642,775 | 537,775 | |||||||||
Principal | 642,775 | 537,775 | |||||||||
Less: Transaction costs | (3,717) | (1,904) | |||||||||
Total long-term borrowings, net | 639,058 | 535,871 | |||||||||
Long-term debt: | |||||||||||
At fixed interest rates with due dates from July 2024 to November 2034 | 1,382,072 | 1,456,290 | |||||||||
At floating interest rates with due dates from November 2024 to August 2028 | 688,477 | 641,530 | |||||||||
Principal | 2,070,548 | 2,097,820 | |||||||||
Less: Transaction costs | (6,098) | (6,308) | |||||||||
Total long-term debt, net | 2,064,450 | 2,091,512 | |||||||||
Total long-term borrowings and debt, net | 2,703,508 | 2,627,383 | |||||||||
Range of fixed interest rates on borrowings and debt in U.S. dollars | 2.38% to 6.15% | 1.35% to 6.15% | |||||||||
Range of floating interest rates on borrowings and debt in U.S. dollars | 6.21% to 7.31% | 6.32% to 7.31% | |||||||||
Range of fixed interest rates on borrowings and debt in Mexican pesos | 6.50% to 10.78% | 6.50% to 10.78% | |||||||||
Range of floating interest rates on borrowings and debt in Mexican pesos | 11.43% to 11.70% | 10.55% to 11.95% | |||||||||
Range of fixed interest rates on debt in Japanese yens | 0.40% to 1.35% | 0.40% to 1.35% | |||||||||
Range of fixed interest rates on debt in Euros | 0.90% | 0.90% to 3.75% | |||||||||
Range of fixed interest rates on debt in Australian dollars | 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 | % |
(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated) |
June 30, 2024 | December 31, 2023 | ||||||||||
US dollar | 1,232,933 | 1,149,021 | |||||||||
Mexican peso | 1,310,825 | 1,241,023 | |||||||||
Euro | 32,133 | 88,018 | |||||||||
Japanese yen | 111,854 | 113,642 | |||||||||
Australian dollar | 9,769 | 27,286 | |||||||||
Swiss franc | 11,132 | 11,889 | |||||||||
Sterling pound | 4,677 | 4,716 | |||||||||
Carrying amount - principal | 2,713,323 | 2,635,595 |
Outstanding | |||||
2024 | 403,954 | ||||
2025 | 686,560 | ||||
2026 | 545,302 | ||||
2027 | 819,889 | ||||
2028 | 105,545 | ||||
2029 | 142,304 | ||||
2034 | 9,769 | ||||
Carrying amount - principal | 2,713,323 |
2024 | 2023 | ||||||||||
Balance as of January 1, | 4,351,988 | 4,416,511 | |||||||||
Net decrease in short-term borrowings and debt | (871,960) | (424,273) | |||||||||
Proceeds from long-term borrowings and debt | 209,189 | 71,645 | |||||||||
Payments of long-term borrowings and debt | (6,061) | (158,416) | |||||||||
Change in foreign currency rates | (136,438) | 137,914 | |||||||||
Fair value adjustment due to hedge accounting relationship | (6,581) | 2,208 | |||||||||
Other adjustments | 350 | 2,482 | |||||||||
Balance as of June 30, | 3,540,487 | 4,048,071 |
(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated) |
June 30, 2024 | December 31, 2023 | ||||||||||
Due within 1 year | 1,715 | 1,717 | |||||||||
After 1 year but within 5 years | 6,705 | 6,540 | |||||||||
After 5 years but within 10 years | 11,355 | 12,368 | |||||||||
Total undiscounted lease liabilities | 19,775 | 20,625 | |||||||||
Short-term | 1,165 | 1,143 | |||||||||
Long-term | 14,983 | 15,564 | |||||||||
Lease liabilities included in the condensed consolidated interim statement of financial position | 16,148 | 16,707 |
June 30, | |||||||||||
2024 | 2023 | ||||||||||
Payments of lease liabilities | 569 | 518 |
Three months ended June 30, | Six months ended June 30, | ||||||||||||||||||||||
2024 | 2023 | 2024 | 2023 | ||||||||||||||||||||
Interest on lease liabilities | (145) | (144) | (294) | (288) |
June 30, 2024 | December 31, 2023 | ||||||||||
Accruals and other accumulated expenses | 22,060 | 24,120 | |||||||||
Funds received for debt repayment | — | 14,735 | |||||||||
Accounts payable | 4,135 | 5,143 | |||||||||
Unearned commissions | 7,825 | 9,652 | |||||||||
Other | 84 | 84 | |||||||||
Total | 34,104 | 53,734 |
(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated) |
Three months ended June 30, | Six months ended June 30, | ||||||||||||||||||||||
2024 | 2023 | 2024 | 2023 | ||||||||||||||||||||
(Thousands of U.S. dollars) | |||||||||||||||||||||||
Profit for the period | 50,122 | 37,066 | 101,390 | 74,020 | |||||||||||||||||||
(U.S. dollars) | |||||||||||||||||||||||
Basic earnings per share | 1.36 | 1.02 | 2.76 | 2.03 | |||||||||||||||||||
(Thousands of shares) | |||||||||||||||||||||||
Weighted average of common shares outstanding applicable to basic EPS | 36,775 | 36,492 | 36,692 | 36,426 | |||||||||||||||||||
Three months ended June 30, | Six months ended June 30, | ||||||||||||||||||||||
2024 | 2023 | 2024 | 2023 | ||||||||||||||||||||
Structured loans | 3,687 | 788 | 5,021 | 1,184 | |||||||||||||||||||
Letters of credit "stand-by" and guarantees | 6,541 | 5,192 | 12,531 | 9,260 | |||||||||||||||||||
Commitments loans and letters of credit | 2,367 | 725 | 3,980 | 1,244 | |||||||||||||||||||
Fees and commission income | 138 | — | 870 | — | |||||||||||||||||||
Total fee and commission income | 12,733 | 6,705 | 22,402 | 11,688 | |||||||||||||||||||
Fess and commission expense | (200) | (198) | (397) | (369) | |||||||||||||||||||
Total | 12,733 | 6,705 | 22,005 | 11,319 |
June 30, 2024 | |||||
Up to 1 year | 4,015 | ||||
From 1 to 2 years | 2,141 | ||||
More than 2 years | 629 | ||||
Total | 6,785 |
(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated) |
Three months ended June 30, 2024 | Six months ended June 30, 2024 | ||||||||||||||||||||||||||||||||||
Commercial | Treasury | Total | Commercial | Treasury | Total | ||||||||||||||||||||||||||||||
Interest income | 157,101 | 38,272 | 195,373 | 315,019 | 73,926 | 388,945 | |||||||||||||||||||||||||||||
Interest expense | (116) | (132,498) | (132,614) | (235) | (263,066) | (263,301) | |||||||||||||||||||||||||||||
Inter-segment net interest income | (101,048) | 101,048 | — | (202,481) | 202,481 | — | |||||||||||||||||||||||||||||
Net interest income | 55,937 | 6,822 | 62,759 | 112,303 | 13,341 | 125,644 | |||||||||||||||||||||||||||||
Other income (expense), net | 12,742 | (461) | 12,281 | 22,452 | (468) | 21,984 | |||||||||||||||||||||||||||||
Total revenues | 68,679 | 6,361 | 75,040 | 134,755 | 12,873 | 147,628 | |||||||||||||||||||||||||||||
Provision for credit losses | (6,604) | (80) | (6,684) | (10,314) | 601 | (9,713) | |||||||||||||||||||||||||||||
Operating expenses | (14,581) | (3,653) | (18,234) | (29,240) | (7,285) | (36,525) | |||||||||||||||||||||||||||||
Segment profit | 47,494 | 2,628 | 50,122 | 95,201 | 6,189 | 101,390 | |||||||||||||||||||||||||||||
Segment assets | 7,744,509 | 3,147,067 | 10,891,576 | ||||||||||||||||||||||||||||||||
Segment liabilities | 309,403 | 9,299,512 | 9,608,915 |
Three months ended June 30, 2023 | Six months ended June 30, 2023 | ||||||||||||||||||||||||||||||||||
Commercial | Treasury | Total | Commercial | Treasury | Total | ||||||||||||||||||||||||||||||
Interest income | 133,923 | 25,579 | 159,502 | 256,518 | 46,363 | 302,881 | |||||||||||||||||||||||||||||
Interest expense | (115) | (104,929) | (105,044) | (230) | (195,573) | (195,803) | |||||||||||||||||||||||||||||
Inter-segment net interest income | (85,349) | 85,349 | — | (163,000) | 163,000 | — | |||||||||||||||||||||||||||||
Net interest income | 48,459 | 5,999 | 54,458 | 93,288 | 13,790 | 107,078 | |||||||||||||||||||||||||||||
Other income (expense), net | 6,729 | (3,807) | 2,922 | 11,721 | (2,244) | 9,477 | |||||||||||||||||||||||||||||
Total income | 55,188 | 2,192 | 57,380 | 105,009 | 11,546 | 116,555 | |||||||||||||||||||||||||||||
Provision for credit losses | (6,349) | 1,658 | (4,691) | (10,253) | (769) | (11,022) | |||||||||||||||||||||||||||||
Operating expenses | (12,289) | (3,334) | (15,623) | (24,132) | (7,381) | (31,513) | |||||||||||||||||||||||||||||
Segment profit | 36,550 | 516 | 37,066 | 70,624 | 3,396 | 74,020 | |||||||||||||||||||||||||||||
Segment assets | 7,148,031 | 2,972,345 | 10,120,376 | ||||||||||||||||||||||||||||||||
Segment liabilities | 329,360 | 8,647,162 | 8,976,522 |
(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated) |
Three months ended June 30, | Six months ended June 30, | ||||||||||||||||||||||
2024 | 2023 | 2024 | 2023 | ||||||||||||||||||||
Profit for the period | 50,122 | 37,066 | 101,390 | 74,020 | |||||||||||||||||||
Assets: | |||||||||||||||||||||||
Assets from reportable segments | 10,891,576 | 10,120,376 | |||||||||||||||||||||
Other assets - unallocated | 15,038 | 13,316 | |||||||||||||||||||||
Total | 10,906,614 | 10,133,692 | |||||||||||||||||||||
Liabilities: | |||||||||||||||||||||||
Liabilities from reportable segments | 9,608,915 | 8,976,522 | |||||||||||||||||||||
Other liabilities - unallocated | 34,104 | 29,648 | |||||||||||||||||||||
Total | 9,643,019 | 9,006,170 |
June 30, 2024 | December 31, 2023 | ||||||||||
Assets: | |||||||||||
Demand deposits | 2,660 | 2,263 | |||||||||
Loans, net | 48,420 | 61,440 | |||||||||
Securities at amortized cost | 14,283 | 14,373 | |||||||||
Total | 65,363 | 78,076 | |||||||||
Liabilities: | |||||||||||
Time deposits | 261,421 | 319,344 | |||||||||
Contingencies: | |||||||||||
Stand-by letters of credit | 150 | 150 | |||||||||
(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated) |
Three months ended June 30, | Six months ended June 30, | ||||||||||||||||||||||
2024 | 2023 | 2024 | 2023 | ||||||||||||||||||||
Interest income: | |||||||||||||||||||||||
Loans | 846 | 1,163 | 1,983 | 2,011 | |||||||||||||||||||
Securities at amortized cost | 122 | 56 | 243 | 111 | |||||||||||||||||||
Total | 968 | 1,219 | 2,226 | 2,122 | |||||||||||||||||||
Interest expense: | |||||||||||||||||||||||
Deposits | (4,104) | (2,318) | (8,405) | (4,727) | |||||||||||||||||||
Net interest income (expenses) | (3,136) | (1,099) | (6,179) | (2,605) | |||||||||||||||||||
Other income (expense): | |||||||||||||||||||||||
Fees and commissions, net | — | 250 | 1 | 257 | |||||||||||||||||||
Net income from related parties | (3,136) | (849) | (6,178) | (2,348) |
Three months ended June 30, | Six months ended June 30, | ||||||||||||||||||||||
2024 | 2023 | 2024 | 2023 | ||||||||||||||||||||
Expenses: | |||||||||||||||||||||||
Compensation costs to directors | 351 | 756 | 861 | 886 | |||||||||||||||||||
Compensation costs to executives | 1,674 | 1,179 | 7,606 | 5,325 |
(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated) |
June 30, 2024 | December 31, 2023 | ||||||||||
Capital funds | 1,273,823 | 1,206,753 | |||||||||
Risk-weighted assets | 9,100,832 | 8,898,408 | |||||||||
Capital adequacy index | 14.00% | 13.56% |
June 30, 2024 | December 31, 2023 | ||||||||||
Ordinary capital | 1,137,805 | 1,070,734 | |||||||||
Non-risk-weighted assets | 11,270,508 | 10,994,085 | |||||||||
Leverage ratio | 10.10% | 9.74% |
(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated) |
June 30, 2024 | |||||||||||||||||||||||||||||||||||
Normal | Special mention | Substandard | Doubtful | Unrecoverable | Total | ||||||||||||||||||||||||||||||
Loans at amortized cost | |||||||||||||||||||||||||||||||||||
Corporations | 4,619,690 | 56,104 | — | — | 10,107 | 4,685,901 | |||||||||||||||||||||||||||||
Financial institutions: | |||||||||||||||||||||||||||||||||||
Private | 2,205,356 | — | — | — | — | 2,205,356 | |||||||||||||||||||||||||||||
State-owned | 438,598 | — | — | — | — | 438,598 | |||||||||||||||||||||||||||||
2,643,954 | — | — | — | — | 2,643,954 | ||||||||||||||||||||||||||||||
Sovereign | 70,096 | — | — | — | — | 70,096 | |||||||||||||||||||||||||||||
Total | 7,333,740 | 56,104 | — | — | 10,107 | 7,399,951 | |||||||||||||||||||||||||||||
Loans at FVOCI | |||||||||||||||||||||||||||||||||||
Corporations | 9,930 | — | — | — | — | 9,930 | |||||||||||||||||||||||||||||
Financial institutions: | |||||||||||||||||||||||||||||||||||
Private | 9,859 | — | — | — | — | 9,859 | |||||||||||||||||||||||||||||
Total | 19,789 | — | — | — | — | 19,789 | |||||||||||||||||||||||||||||
Total loans | 7,353,529 | 56,104 | — | — | 10,107 | 7,419,740 | |||||||||||||||||||||||||||||
Specific provision | — | 11,221 | — | — | 5,578 | 16,799 | |||||||||||||||||||||||||||||
Allowance for loan | |||||||||||||||||||||||||||||||||||
losses under IFRS (1): | 45,422 | 10,903 | — | — | 6,969 | 63,294 | |||||||||||||||||||||||||||||
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 loans | 7,153,117 | 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 | |||||||||||||||||||||||||||||
(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated) |
June 30, 2024 | ||||||||||||||||||||||||||
Loans at amortized cost | Current | Past due | Delinquent | Total | ||||||||||||||||||||||
Corporations | 4,675,794 | — | 10,107 | 4,685,901 | ||||||||||||||||||||||
Financial institutions: | ||||||||||||||||||||||||||
Private | 2,205,356 | — | — | 2,205,356 | ||||||||||||||||||||||
State-owned | 438,598 | — | — | 438,598 | ||||||||||||||||||||||
2,643,954 | — | — | 2,643,954 | |||||||||||||||||||||||
Sovereign | 70,096 | — | — | 70,096 | ||||||||||||||||||||||
Total | 7,389,844 | — | 10,107 | 7,399,951 | ||||||||||||||||||||||
Loans at FVOCI | ||||||||||||||||||||||||||
Corporations | 9,930 | — | — | 9,930 | ||||||||||||||||||||||
Financial institutions: | ||||||||||||||||||||||||||
Private | 9,859 | — | — | 9,859 | ||||||||||||||||||||||
Total | 19,789 | — | — | 19,789 | ||||||||||||||||||||||
Total loans | 7,409,633 | — | 10,107 | 7,419,740 | ||||||||||||||||||||||
December 31, 2023 | ||||||||||||||||||||||||||
Loans at amortized cost | Current | Past due | Delinquent | Total | ||||||||||||||||||||||
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 loans | 7,185,460 | — | 10,107 | 7,195,567 | ||||||||||||||||||||||
(Amounts expressed in thousands of U.S. dollars, unless otherwise indicated) |
June 30, 2024 | |||||||||||||||||||||||||||||||||||
Normal | Special mention | Substandard | Doubtful | Unrecoverable | Total | ||||||||||||||||||||||||||||||
Loans at amortized cost | |||||||||||||||||||||||||||||||||||
Impaired loans | — | — | — | — | 10,107 | 10,107 | |||||||||||||||||||||||||||||
Total | — | — | — | — | 10,107 | 10,107 |
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 |
June 30, 2024 | December 31, 2023 | ||||||||||
Non-accruing loans: | |||||||||||
Private corporations | 10,107 | 10,107 | |||||||||
Interest that would be reversed if the loans had been classified as non-accruing loans | 400 | 328 | |||||||||