Brandes discloses 6.9% stake in Foreign Trade Bank (NYSE: BLX)

Rhea-AI Filing Summary

Brandes Investment Partners, L.P., a Delaware investment adviser, reports beneficial ownership of 1,983,761 E Shares of Foreign Trade Bank of Latin America, Inc., representing 6.9% of the class. Brandes has no sole voting or dispositive power, but shares voting power over 1,983,547 shares and shared dispositive power over 1,983,761 shares.

The position is stated to be held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer, nor in connection with any transaction intended to have that effect.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 27)

FOREIGN TRADE BANK OF LATIN AMERICA, INC.

(Name of Issuer)

E Shares

(Title of Class of Securities)

P16994132

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. P16994132

1

Names of Reporting Persons

BRANDES INVESTMENT PARTNERS, LP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,983,547.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,983,761.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,983,761.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

6.9 %

12

Type of Reporting Person (See Instructions)

IA, PN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: FOREIGN TRADE BANK OF LATIN AMERICA, INC.
(b)	Address of issuer's principal executive offices: Calle 50 y Aquilino de la Guar, Apartado 6-1497 El Dorado, PANAMA CITY, PANAMA, 0819-08730.
Item 2.
(a)	Name of person filing: Brandes Investment Partners, L.P.
(b)	Address or principal business office or, if none, residence: 4275 Executive Square, 5th Floor, La Jolla, CA 92037
(c)	Citizenship: Delaware
(d)	Title of class of securities: E Shares
(e)	CUSIP No.: P16994132
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 1,983,761
(b)	Percent of class: 6.90%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 1,983,547
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 1,983,761
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

BRANDES INVESTMENT PARTNERS, LP

Signature:	/s/ Glenn Carlson
Name/Title:	Executive Director
Date:	02/09/2026

FAQ

What ownership stake does Brandes hold in FOREIGN TRADE BANK OF LATIN AMERICA, INC. (BLX)?

Brandes Investment Partners, L.P. reports beneficial ownership of 1,983,761 E Shares, representing 6.9% of the company’s outstanding class. This level of ownership makes Brandes a significant institutional holder, triggering the requirement to disclose its position and voting and dispositive powers.

Does Brandes have voting power over its BLX E Shares position?

Brandes reports no sole voting power, but shared voting power over 1,983,547 E Shares of BLX. This means voting decisions on these shares are made jointly with others, reflecting Brandes’ role as an investment adviser acting for client accounts rather than as a controlling shareholder.

What dispositive power does Brandes report over BLX E Shares?

Brandes reports no sole dispositive power, but shared dispositive power over 1,983,761 E Shares. Shared dispositive power indicates Brandes participates in decisions to sell or otherwise dispose of these shares, typically in its capacity managing assets on behalf of clients or funds.

Is Brandes seeking to influence control of FOREIGN TRADE BANK OF LATIN AMERICA, INC.?

Brandes states the BLX securities were acquired and are held in the ordinary course of business, not to change or influence control. It also notes the holding is not in connection with any transaction intended to affect control, other than activities tied to specific proxy nomination provisions.

What type of entity is Brandes in relation to its BLX holding?

Brandes Investment Partners, L.P. identifies itself as an investment adviser organized in Delaware. Its 6.9% beneficial stake in BLX E Shares is reported under the investment adviser category, reflecting that the shares are typically managed for client accounts rather than owned outright for proprietary purposes.