Banco Latinoamericano de Exportaciones, S. A. (the Bank), also known as Latin American Export Bank, is a specialized multi-national bank established to finance trade in the Latin America and the Caribbean (the Region). The Bank has three primary subsidiaries: Banco Latinoamericano de Exportaciones, Limited (BLADEX Cayman), BLADEX Representacao Ltda. and BLADEX Holdings Inc. (BLADEX Holdings). BLADEX Cayman, which is a wholly owned subsidiary, was incorporated in 1987. BLADEX Representacao Ltda., incorporated in January 2000, operates the Bank's representative office in Brazil. BLADEX Representacao Ltda. is 99.999% owned by BLADEX Panama and 0.001% owned by BLADEX Cayman. BLADEX Holdings, incorporated in May 2000, is a wholly owned subsidiary. BLADEX Holdings has a wholly owned subsidiary, BLADEX Financial Services, LLC, incorporated in October 2000. BLADEX Financial Services, LLC has a wholly owned subsidiary, BLADEX Securities, LLC, established in October 2000.