FOREIGN TRADE BANK OF LATIN AMERICA, INC. (ifrs-full:DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory)

25.

Commitments and contingencies

Leasing arrangements

Operating lease commitments – Bank as lessee

Future minimum lease payments under cancellable operating leases as follows:

	December 31, 2017		December 31, 2016		December 31, 2015
Within 1 year		2,006		1,984		2,055
After 1 year but not more than 5 years		7,335		7,362		6,731
More than 5 years		8,814		10,638		14,128
Total		18,155		19,984		22,914

The total amount of expenses recognized in connection with such leases in 2017, 2016 and 2015 are $2,332, $2,605 and $2,930, respectively.

Operating leases – Bank as sub-lessor

Future minimum lease payments under cancellable operating leases as follows:

	December 31, 2017		December 31, 2016		December 31, 2015
Within 1 year		300		289		455
After 1 year but not more than 5 years		243		646		822
Total		543		935		1,277

The total amount of income recognized in connection with such leases in 2017, 2016 and 2015 are $275, $436 y $661, respectively.

FOREIGN TRADE BANK OF LATIN AMERICA, INC. | CIK:0000890541 |