FOREIGN TRADE BANK OF LATIN AMERICA, INC.

Foreign Filer Report • Oct 31, 2008

6-K 1 v130355_6k.htm Licensed to: taurusquest Document Created using EDGARizer HTML 3.0.4.0 Copyright 2006 EDGARfilings, Ltd., an IEC company. All rights reserved EDGARfilings.com

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 Or 15d-16 Of The

Securities Exchange Act of 1934

For the month of October, 2008

BANCO LATINOAMERICANO DE EXPORTACIONES, S.A.

(Exact name of Registrant as specified in its Charter)

LATIN AMERICAN EXPORT BANK

(Translation of Registrant’s name into English)

Calle 50 y Aquilino de la Guardia

Apartado 0819-08730

El Dorado, Panama City

Republic of Panama

(Address of Registrant’s Principal Executive Offices)

(Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.)

Form 20-F x Form 40-F ¨

(Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing information to the Commission pursuant to Rule 12g-3-2(b) under the Securities Exchange Act of 1934.)

Yes ¨ No x

(If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b). 82__.)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereto duly authorized.

October 31, 2008

| Banco
Latinoamericano de Exportaciones, S.A. |
| --- |
| By:
/s/ Pedro Toll |
| Name:
Pedro Toll |
| Title:
Deputy Manager |

22 de Octubre de 2008

BANCO LATINOAMERICANO DE EXPORTACIONES BALANCE DE SITUACIÓN DE DICIEMBRE 2007 Y ENERO - SEPTIEMBRE 2008 (En Balboas)

Descripción	Absoluta %	Diciembre	Enero	Febrero	Marzo	Abril
ACTIVOS
LIQUIDOS	43,892,165.41	10.94	401,327,785.63	294,054,753.39	403,828,804.69	487,583,782.85	337,155,177.39
Depositos
Locales en Bancos	-128,078.79	-44.82	285,754.54	233,625.57	225,027.61	257,527.62	256,156.02
A
la
Vista	-128,078.79	-44.82	285,754.54	233,625.57	225,027.61	257,527.62	256,156.02
A
Plazo	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Depositos
Extranjeros en Bancos	44,022,535.51	10.98	401,036,339.06	293,816,988.13	403,599,292.09	487,320,706.18	336,892,774.62
A
la
Vista	203,122,535.51	14,141.68	1,436,339.06	6,216,988.13	5,099,292.09	3,720,706.18	5,592,774.62
A
Plazo	-159,100,000.00	-39.81	399,600,000.00	287,600,000.00	398,500,000.00	483,600,000.00	331,300,000.00
Menos
Provisiones	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Locales	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Extranjero	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Otros	-2,291.31	-40.25	5,692.03	4,139.69	4,484.99	5,549.05	6,246.75
CARTERA
CREDITICIA	136,867,520.42	3.74	3,662,194,693.87	3,548,971,499.30	3,683,948,745.67	3,704,904,162.38	3,866,918,998.90
Locales	-28,730,105.20	-11.38	252,482,566.49	259,592,677.23	259,887,677.23	398,281,443.48	394,568,729.90
Extranjero	165,040,423.58	4.74	3,479,355,318.34	3,359,260,301.18	3,493,942,547.55	3,376,494,824.39	3,542,222,722.64
Menos
Provisiones	-557,202.04	-0.80	69,643,190.96	69,881,479.11	69,881,479.11	69,872,105.49	69,872,453.64
Locales	409,420.74	26.58	1,540,276.12	1,540,276.12	1,540,276.12	1,540,276.12	1,540,276.12
Extranjero	-966,622.78	-1.42	68,102,914.84	68,341,202.99	68,341,202.99	68,331,829.37	68,332,177.52
INVERSIONES
EN VALORES	333,851,227.07	58.03	575,308,868.73	720,927,339.13	752,313,401.97	802,295,101.08	879,029,360.69
Locales	19,120,750.00	26.48	72,196,000.00	72,611,200.00	78,024,276.58	78,098,235.64	78,001,617.06
Extranjero	314,730,477.07	62.56	503,112,868.73	648,316,139.13	674,289,125.39	724,196,865.44	801,027,743.63
Menos
Provisiones	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Locales	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Extranjero	0.00	0.00	0.00	0.00	0.00	0.00	0.00
OTROS
ACTIVOS	69,352,817.54	76.22	90,992,888.72	107,647,561.41	108,664,901.06	109,454,265.51	79,599,768.90
Locales	-707,097.72	-16.54	4,274,653.41	3,776,255.93	4,822,408.82	4,493,961.80	6,599,230.09
Extranjero	70,059,915.26	80.79	86,718,235.31	103,871,305.48	103,842,492.24	104,960,303.71	73,000,538.81
TOTAL
DE ACTIVOS	583,963,730.44	12.35	4,729,824,236.95	4,671,601,153.23	4,948,755,853.39	5,104,237,311.82	5,162,703,305.88
DEPOSITOS	38,903,180.89	2.57	1,513,036,584.54	1,311,034,546.15	1,437,684,538.56	1,423,205,733.93	1,559,535,216.31
Locales	-122,156,195.58	-54.12	225,714,906.79	218,952,787.47	246,914,642.04	184,800,521.54	250,159,467.73
Oficiales	0.00	0.00	0.00	0.00	0.00	0.00	0.00
De
Particulares	0.00	0.00	0.00	0.00	1,400,838.44	0.00	0.00
A
la
Vista	0.00	0.00	0.00	0.00	0.00	0.00	0.00
A
Plazo	0.00	0.00	0.00	0.00	1,400,838.44	0.00	0.00
De
Ahorros	0.00	0.00	0.00	0.00	0.00	0.00	0.00
De
Bancos	-122,156,195.58	-54.12	225,714,906.79	218,952,787.47	245,513,803.60	184,800,521.54	250,159,467.73
A
la
Vista	-21,094,896.17	-89.99	23,441,831.87	22,583,638.33	17,629,784.93	13,046,533.96	11,162,032.63
A
Plazo	-101,061,299.41	-49.96	202,273,074.92	196,369,149.14	227,884,018.67	171,753,987.58	238,997,435.10
Extranjero	161,059,376.47	12.51	1,287,321,677.75	1,092,081,758.68	1,190,769,896.52	1,238,405,212.39	1,309,375,748.58
Oficiales	0.00	0.00	0.00	0.00	0.00	0.00	0.00
De
Particulares	-9,857,103.27	-23.67	41,644,075.95	51,474,906.67	46,727,501.29	12,455,066.51	65,565,271.04
A
la
Vista	322,896.73	22.05	1,464,075.95	1,474,906.67	2,727,501.29	3,441,152.62	6,535,806.67
A
Plazo	-10,180,000.00	-25.34	40,180,000.00	50,000,000.00	44,000,000.00	9,013,913.89	59,029,464.37
De
Ahorros	0.00	0.00	0.00	0.00	0.00	0.00	0.00
De
Bancos	170,916,479.74	13.72	1,245,677,601.80	1,040,606,852.01	1,144,042,395.23	1,225,950,145.88	1,243,810,477.54
A
la
Vista	5,325,871.24	6.12	86,983,250.05	94,067,907.24	104,019,526.16	78,317,765.09	37,444,518.18
A
Plazo	165,590,608.50	14.29	1,158,694,351.75	946,538,944.77	1,040,022,869.07	1,147,632,380.79	1,206,365,959.36
OBLIGACIONES	454,313,869.40	18.06	2,515,038,597.04	2,646,362,875.95	2,787,614,144.91	2,952,332,271.03	2,902,534,161.46
Locales	-10,000,000.00	-25.00	40,000,000.00	40,000,000.00	50,000,000.00	50,000,126.79	50,000,000.00
Extranjero	464,313,869.40	18.76	2,475,038,597.04	2,606,362,875.95	2,737,614,144.91	2,902,332,144.24	2,852,534,161.46
OTROS
PASIVOS	103,578,015.59	92.86	111,537,872.66	132,364,806.35	134,356,889.45	147,344,908.68	98,317,207.28
Locales	9,248,704.87	170.29	5,431,130.73	4,769,284.35	3,269,484.25	2,468,745.74	11,591,562.43
Extranjero	94,329,310.72	88.90	106,106,741.93	127,595,522.00	131,087,405.20	144,876,162.94	86,725,644.85
PATRIMONIO	-12,831,335.46	-2.17	590,211,182.74	581,838,924.86	589,100,280.61	581,354,398.29	602,316,720.95
Capital	1,095,348.64	0.39	281,334,661.62	281,418,007.88	281,495,976.96	281,612,180.17	281,778,127.62
Reservas
de Capital	0.00	0.00	95,210,153.67	95,210,153.67	95,210,153.67	95,210,153.67	95,210,153.67
Otras
Reservas	-2,540,099.00	126.40	-2,009,630.66	-3,992,368.66	-2,735,809.66	-3,981,842.66	-3,232,388.66
Utilidad
de Periodos Anteriores	24,394,066.78	13.95	174,894,542.39	223,306,964.95	223,306,964.95	215,305,532.21	215,305,532.21
Utilidad
de Periodo	-3,813,232.80	-7.88	48,412,430.48	4,793,662.04	8,998,568.04	14,168,698.56	18,196,171.43
Ganancia
o Perdida en Valores Disponible para la venta	-31,967,419.08	418.92	-7,630,974.76	-18,897,495.02	-17,175,573.35	-20,960,323.66	-4,940,875.32
Deuda
Subordinada	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PASIVO
Y PATRIMONIO	583,963,730.42	12.35	4,729,824,236.98	4,671,601,153.31	4,948,755,853.53	5,104,237,311.93	5,162,703,306.00

22 de Octubre de 2008

BANCO LATINOAMERICANO DE EXPORTACIONES BALANCE DE SITUACIÓN DE DICIEMBRE 2007 Y ENERO - SEPTIEMBRE 2008 (En Balboas)

Descripción	2008 — Mayo	Junio	Julio	Agosto	Septiembre	Octubre	Noviembre	Diciembre
ACTIVOS
LIQUIDOS	336,767,457.10	348,888,538.19	336,729,056.48	473,204,059.94	445,219,951.04	0.00	0.00	0.00
Depositos
Locales en Bancos	206,238.55	165,920.03	540,189.06	579,066.57	157,675.75	0.00	0.00	0.00
A
la
Vista	206,238.55	165,920.03	540,189.06	579,066.57	157,675.75	0.00	0.00	0.00
A
Plazo	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Depositos
Extranjeros en Bancos	336,554,858.90	348,717,340.66	336,183,524.53	472,620,428.43	445,058,874.57	0.00	0.00	0.00
A
la
Vista	18,354,858.90	14,817,340.66	19,283,524.53	19,120,428.43	204,558,874.57	0.00	0.00	0.00
A
Plazo	318,200,000.00	333,900,000.00	316,900,000.00	453,500,000.00	240,500,000.00	0.00	0.00	0.00
Menos
Provisiones	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Locales	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Extranjero	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Otros	6,359.65	5,277.50	5,342.89	4,564.94	3,400.72	0.00	0.00	0.00
CARTERA
CREDITICIA	4,027,295,445.25	4,034,845,678.96	4,030,880,094.26	3,883,016,311.03	3,799,062,214.29	0.00	0.00	0.00
Locales	377,524,734.90	374,402,937.57	333,249,279.25	345,509,524.58	223,752,461.29	0.00	0.00	0.00
Extranjero	3,720,115,663.99	3,730,203,493.47	3,767,410,459.07	3,607,419,585.84	3,644,395,741.92	0.00	0.00	0.00
Menos
Provisiones	70,344,953.64	69,760,752.08	69,779,644.06	69,912,799.39	69,085,988.92	0.00	0.00	0.00
Locales	1,540,276.12	1,445,815.41	1,445,815.41	1,445,815.41	1,949,696.86	0.00	0.00	0.00
Extranjero	68,804,677.52	68,314,936.67	68,333,828.65	68,466,983.98	67,136,292.06	0.00	0.00	0.00
INVERSIONES
EN VALORES	919,509,561.07	872,542,626.81	933,310,470.20	944,886,873.58	909,160,095.80	0.00	0.00	0.00
Locales	77,805,900.00	76,693,917.46	93,139,600.00	93,634,400.00	91,316,750.00	0.00	0.00	0.00
Extranjero	841,703,661.07	795,848,709.35	840,170,870.20	851,252,473.58	817,843,345.80	0.00	0.00	0.00
Menos
Provisiones	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Locales	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Extranjero	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
OTROS
ACTIVOS	122,065,321.83	119,856,242.53	79,637,068.31	78,010,455.22	160,345,706.26	0.00	0.00	0.00
Locales	6,329,473.83	6,292,165.21	6,742,934.69	8,037,614.17	3,567,555.69	0.00	0.00	0.00
Extranjero	115,735,848.00	113,564,077.32	72,894,133.62	69,972,841.05	156,778,150.57	0.00	0.00	0.00
TOTAL
DE ACTIVOS	5,405,637,785.25	5,376,133,086.49	5,380,556,689.25	5,379,117,699.77	5,313,787,967.39	0.00	0.00	0.00
DEPOSITOS	1,696,862,977.95	1,737,019,470.86	1,702,694,840.47	1,676,054,486.53	1,551,939,765.43	0.00	0.00	0.00
Locales	198,473,054.30	154,482,017.68	154,502,943.68	151,925,869.57	103,558,711.21	0.00	0.00	0.00
Oficiales	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
De
Particulares	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
A
la
Vista	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
A
Plazo	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
De
Ahorros	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
De
Bancos	198,473,054.30	154,482,017.68	154,502,943.68	151,925,869.57	103,558,711.21	0.00	0.00	0.00
A
la
Vista	3,465,682.55	3,457,172.14	2,209,452.24	2,443,821.28	2,346,935.70	0.00	0.00	0.00
A
Plazo	195,007,371.75	151,024,845.54	152,293,491.44	149,482,048.29	101,211,775.51	0.00	0.00	0.00
Extranjero	1,498,389,923.65	1,582,537,453.18	1,548,191,896.79	1,524,128,616.96	1,448,381,054.22	0.00	0.00	0.00
Oficiales	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
De
Particulares	56,743,505.02	57,231,388.96	32,261,643.77	35,886,258.47	31,786,972.68	0.00	0.00	0.00
A
la
Vista	1,716,278.67	2,204,162.61	2,261,643.77	1,886,258.47	1,786,972.68	0.00	0.00	0.00
A
Plazo	55,027,226.35	55,027,226.35	30,000,000.00	34,000,000.00	30,000,000.00	0.00	0.00	0.00
De
Ahorros	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
De
Bancos	1,441,646,418.63	1,525,306,064.22	1,515,930,253.02	1,488,242,358.49	1,416,594,081.54	0.00	0.00	0.00
A
la
Vista	48,574,467.01	98,552,979.88	74,617,789.92	64,833,685.46	92,309,121.29	0.00	0.00	0.00
A
Plazo	1,393,071,951.62	1,426,753,084.34	1,441,312,463.10	1,423,408,673.03	1,324,284,960.25	0.00	0.00	0.00
OBLIGACIONES	2,957,623,261.78	2,890,331,322.68	2,970,814,739.59	2,982,894,717.09	2,969,352,466.44	0.00	0.00	0.00
Locales	50,000,000.00	40,000,000.00	40,000,000.00	30,000,000.00	30,000,000.00	0.00	0.00	0.00
Extranjero	2,907,623,261.78	2,850,331,322.68	2,930,814,739.59	2,952,894,717.09	2,939,352,466.44	0.00	0.00	0.00
OTROS
PASIVOS	131,949,109.68	140,789,924.01	100,150,278.79	107,921,733.96	215,115,888.25	0.00	0.00	0.00
Locales	15,822,145.54	13,469,233.20	13,558,890.22	13,703,018.47	14,679,835.60	0.00	0.00	0.00
Extranjero	116,126,964.14	127,320,690.81	86,591,388.57	94,218,715.49	200,436,052.65	0.00	0.00	0.00
PATRIMONIO	619,202,435.86	607,992,368.94	606,896,830.42	612,246,762.17	577,379,847.28	0.00	0.00	0.00
Capital	281,874,453.37	281,978,936.94	282,074,942.15	282,179,267.52	282,430,010.26	0.00	0.00	0.00
Reservas
de Capital	95,210,153.67	95,210,153.67	95,210,153.67	95,210,153.67	95,210,153.67	0.00	0.00	0.00
Otras
Reservas	-1,697,897.66	-3,231,218.66	-5,087,832.66	-4,805,686.66	-4,549,729.66	0.00	0.00	0.00
Utilidad
de Periodos Anteriores	215,305,532.21	206,212,995.01	207,297,070.69	207,297,070.69	199,288,609.17	0.00	0.00	0.00
Utilidad
de Periodo	22,898,759.63	30,347,344.27	34,538,167.77	39,193,777.89	44,599,197.68	0.00	0.00	0.00
Ganancia
o Perdida en Valores Disponible para la venta	5,611,434.64	-2,525,842.29	-7,135,671.20	-6,827,820.94	-39,598,393.84	0.00	0.00	0.00
Deuda
Subordinada	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PASIVO
Y PATRIMONIO	5,405,637,785.27	5,376,133,086.49	5,380,556,689.27	5,379,117,699.75	5,313,787,967.40	0.00	0.00	0.00

22 de Octubre de 2008

ESTADO DE RESULTADO BANCO LATINOAMERICANO DE EXPORTACIONES, S.A. ENERO - SEPTIEMBRE 2008 (En Balboas)

| Descripcion — Ingresos
Por Intereses | 23,820,708.96 | 21,140,086.39 | 21,895,027.77 | 66,855,823.12 | 20,071,956.67 | 20,586,557.84 | 19,811,416.20 | 60,469,930.71 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Préstamos | 19,873,381.83 | 17,551,077.63 | 17,945,101.32 | 55,369,560.78 | 16,406,376.06 | 16,855,184.26 | 16,428,422.51 | 49,689,982.83 |
| Depósitos | 963,411.63 | 977,905.19 | 941,932.87 | 2,883,249.69 | 837,802.82 | 546,334.03 | 588,824.44 | 1,972,961.29 |
| Inversiones | 2,983,915.50 | 2,611,103.57 | 3,007,993.58 | 8,603,012.65 | 2,827,777.79 | 3,185,039.55 | 2,794,169.25 | 8,806,986.59 |
| Egresos
de Operaciones | 17,086,045.88 | 14,888,086.90 | 14,537,221.74 | 46,511,354.52 | 13,622,203.52 | 13,641,604.47 | 13,275,828.98 | 40,539,636.97 |
| Intereses
Pagados | 17,082,770.67 | 14,884,099.03 | 14,533,425.06 | 46,500,294.76 | 13,619,325.35 | 13,640,583.03 | 13,269,954.94 | 40,529,863.32 |
| Comisiones | 3,275.21 | 3,987.87 | 3,796.68 | 11,059.76 | 2,878.17 | 1,021.44 | 5,874.04 | 9,773.65 |
| Ingreso
Neto de Intereses | 6,734,663.08 | 6,251,999.49 | 7,357,806.03 | 20,344,468.60 | 6,449,753.15 | 6,944,953.37 | 6,535,587.22 | 19,930,293.74 |
| Otros
Ingresos | 341,795.80 | 520,165.53 | 1,053,306.84 | 1,915,268.17 | 626,820.04 | 549,721.64 | 3,174,145.45 | 4,350,687.13 |
| Comisiones | 541,754.03 | 505,491.03 | 686,481.33 | 1,733,726.39 | 495,604.65 | 714,567.17 | 711,322.28 | 1,921,494.10 |
| Operaciones
con Divisas | -75.15 | 48,830.21 | 136,961.92 | 185,716.98 | 76,334.70 | 207,625.59 | 307,173.63 | 591,133.92 |
| Otros
ingresos | -199,883.08 | -34,155.71 | 229,863.59 | -4,175.20 | 54,880.69 | -372,471.12 | 2,155,649.54 | 1,838,059.11 |
| Ingresos
de Operaciones | 7,076,458.88 | 6,772,165.02 | 8,411,112.87 | 22,259,736.77 | 7,076,573.19 | 7,494,675.01 | 9,709,732.67 | 24,280,980.87 |
| Egresos
Generales | 2,282,796.84 | 2,567,259.02 | 3,240,982.36 | 8,091,038.22 | 3,049,100.32 | 2,792,086.81 | 5,464,680.21 | 11,305,867.34 |
| Gastos
Administrativos | 1,326,096.44 | 1,600,317.40 | 1,839,856.93 | 4,766,270.77 | 1,601,121.41 | 1,651,783.11 | 2,046,553.55 | 5,299,458.07 |
| Gastos
Generales | 285,612.41 | 386,276.73 | 433,369.71 | 1,105,258.85 | 833,429.96 | 424,247.42 | 203,223.21 | 1,460,900.59 |
| Gastos
de Depreciación | 217,222.95 | 215,560.48 | 219,552.46 | 652,335.89 | 218,210.99 | 216,082.99 | 215,173.57 | 649,467.55 |
| Otros
Gastos | 453,865.04 | 365,104.41 | 748,203.26 | 1,567,172.71 | 396,337.96 | 499,973.29 | 2,999,729.88 | 3,896,041.13 |
| Utilidad
antes de Provisiones | 4,793,662.04 | 4,204,906.00 | 5,170,130.51 | 14,168,698.55 | 4,027,472.87 | 4,702,588.20 | 4,245,052.46 | 12,975,113.53 |
| Provisiones
por Cuentas Malas | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -3,203,532.18 | -3,203,532.18 |
| Utilidad
del Periodo | 4,793,662.04 | 4,204,906.00 | 5,170,130.51 | 14,168,698.55 | 4,027,472.87 | 4,702,588.20 | 7,448,584.64 | 16,178,645.71 |

22 de Octubre de 2008

ESTADO DE RESULTADO BANCO LATINOAMERICANO DE EXPORTACIONES, S.A. ENERO - SEPTIEMBRE 2008 (En Balboas)

| Descripcion — Ingresos
Por Intereses | 21,130,985.34 | 21,151,257.10 | 20,473,547.60 | 62,755,790.04 | 0.00 | 0.00 | 0.00 | 0.00 | 190,081,543.87 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Préstamos | 17,476,993.31 | 17,454,381.24 | 16,774,582.97 | 51,705,957.52 | 0.00 | 0.00 | 0.00 | 0.00 | 156,765,501.13 |
| Depósitos | 625,901.60 | 630,691.09 | 835,810.05 | 2,092,402.74 | 0.00 | 0.00 | 0.00 | 0.00 | 6,948,613.72 |
| Inversiones | 3,028,090.43 | 3,066,184.77 | 2,863,154.58 | 8,957,429.78 | 0.00 | 0.00 | 0.00 | 0.00 | 26,367,429.02 |
| Egresos
de Operaciones | 13,846,560.26 | 13,849,429.24 | 13,766,096.79 | 41,462,086.29 | 0.00 | 0.00 | 0.00 | 0.00 | 128,513,077.78 |
| Intereses
Pagados | 13,840,419.39 | 13,846,169.64 | 13,765,254.37 | 41,451,843.40 | 0.00 | 0.00 | 0.00 | 0.00 | 128,482,001.48 |
| Comisiones | 6,140.87 | 3,259.60 | 842.42 | 10,242.89 | 0.00 | 0.00 | 0.00 | 0.00 | 31,076.30 |
| Ingreso
Neto de Intereses | 7,284,425.08 | 7,301,827.86 | 6,707,450.81 | 21,293,703.75 | 0.00 | 0.00 | 0.00 | 0.00 | 61,568,466.09 |
| Otros
Ingresos | 604,109.33 | 257,732.15 | 1,222,751.72 | 2,084,593.20 | 0.00 | 0.00 | 0.00 | 0.00 | 8,350,548.50 |
| Comisiones | 616,679.69 | 733,982.73 | 791,961.98 | 2,142,624.40 | 0.00 | 0.00 | 0.00 | 0.00 | 5,797,844.89 |
| Operaciones
con Divisas | -92,191.98 | -937,077.63 | 77,243.66 | -952,025.95 | 0.00 | 0.00 | 0.00 | 0.00 | -175,175.05 |
| Otros
ingresos | 79,621.62 | 460,827.05 | 353,546.08 | 893,994.75 | 0.00 | 0.00 | 0.00 | 0.00 | 2,727,878.66 |
| Ingresos
de Operaciones | 7,888,534.41 | 7,559,560.01 | 7,930,202.53 | 23,378,296.95 | 0.00 | 0.00 | 0.00 | 0.00 | 69,919,014.59 |
| Egresos
Generales | 3,697,710.91 | 2,903,949.89 | 3,366,436.50 | 9,968,097.30 | 0.00 | 0.00 | 0.00 | 0.00 | 29,365,002.86 |
| Gastos
Administrativos | 1,601,643.09 | 1,622,459.65 | 1,639,168.75 | 4,863,271.49 | 0.00 | 0.00 | 0.00 | 0.00 | 14,929,000.33 |
| Gastos
Generales | 438,014.96 | 518,195.08 | 415,716.97 | 1,371,927.01 | 0.00 | 0.00 | 0.00 | 0.00 | 3,938,086.45 |
| Gastos
de Depreciación | 1,185,152.20 | 280,025.81 | 200,351.64 | 1,665,529.65 | 0.00 | 0.00 | 0.00 | 0.00 | 2,967,333.09 |
| Otros
Gastos | 472,900.66 | 483,269.35 | 1,111,199.14 | 2,067,369.15 | 0.00 | 0.00 | 0.00 | 0.00 | 7,530,582.99 |
| Utilidad
antes de Provisiones | 4,190,823.50 | 4,655,610.12 | 4,563,766.03 | 13,410,199.65 | 0.00 | 0.00 | 0.00 | 0.00 | 40,554,011.73 |
| Provisiones
por Cuentas Malas | 0.00 | 0.00 | -841,653.76 | -841,653.76 | 0.00 | 0.00 | 0.00 | 0.00 | -4,045,185.94 |
| Utilidad
del Periodo | 4,190,823.50 | 4,655,610.12 | 5,405,419.79 | 14,251,853.41 | 0.00 | 0.00 | 0.00 | 0.00 | 44,599,197.67 |

October 22, 2008

BANCO LATINOAMERICANO DE EXPORTACIONES BALANCE SHEETS DECEMBER 2007 AND JANUARY - SEPTEMBER 2008 (In Balboas)*

Description	Absolute %	December	January	February	March	April
LIQUID
ASSETS	43,892,165.41	10.94	401,327,785.63	294,054,753.39	403,828,804.69	487,583,782.85	337,155,177.39
Local
Deposits in Banks	-128,078.79	-44.82	285,754.54	233,625.57	225,027.61	257,527.62	256,156.02
Demand	-128,078.79	-44.82	285,754.54	233,625.57	225,027.61	257,527.62	256,156.02
Time	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Foreign
Deposits in Banks	44,022,535.51	10.98	401,036,339.06	293,816,988.13	403,599,292.09	487,320,706.18	336,892,774.62
Demand	203,122,535.51	14,141.68	1,436,339.06	6,216,988.13	5,099,292.09	3,720,706.18	5,592,774.62
Time	-159,100,000.00	-39.81	399,600,000.00	287,600,000.00	398,500,000.00	483,600,000.00	331,300,000.00
Less
Allowance	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Local	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Foreign	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Others	-2,291.31	-40.25	5,692.03	4,139.69	4,484.99	5,549.05	6,246.75
CREDIT
PORTFOLIO	136,867,520.42	3.74	3,662,194,693.87	3,548,971,499.30	3,683,948,745.67	3,704,904,162.38	3,866,918,998.90
Local	-28,730,105.20	-11.38	252,482,566.49	259,592,677.23	259,887,677.23	398,281,443.48	394,568,729.90
Foreign	165,040,423.58	4.74	3,479,355,318.34	3,359,260,301.18	3,493,942,547.55	3,376,494,824.39	3,542,222,722.64
Less
Allowance	-557,202.04	-0.80	69,643,190.96	69,881,479.11	69,881,479.11	69,872,105.49	69,872,453.64
Local	409,420.74	26.58	1,540,276.12	1,540,276.12	1,540,276.12	1,540,276.12	1,540,276.12
Foreign	-966,622.78	-1.42	68,102,914.84	68,341,202.99	68,341,202.99	68,331,829.37	68,332,177.52
INVESTMENT
SECURITIES	333,851,227.07	58.03	575,308,868.73	720,927,339.13	752,313,401.97	802,295,101.08	879,029,360.69
Local	19,120,750.00	26.48	72,196,000.00	72,611,200.00	78,024,276.58	78,098,235.64	78,001,617.06
Foreign	314,730,477.07	62.56	503,112,868.73	648,316,139.13	674,289,125.39	724,196,865.44	801,027,743.63
Less
Allowance	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Local	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Foreign	0.00	0.00	0.00	0.00	0.00	0.00	0.00
OTHER
ASSETS	69,352,817.54	76.22	90,992,888.72	107,647,561.41	108,664,901.06	109,454,265.51	79,599,768.90
Local	-707,097.72	-16.54	4,274,653.41	3,776,255.93	4,822,408.82	4,493,961.80	6,599,230.09
Foreign	70,059,915.26	80.79	86,718,235.31	103,871,305.48	103,842,492.24	104,960,303.71	73,000,538.81
TOTAL
ASSETS	583,963,730.44	12.35	4,729,824,236.95	4,671,601,153.23	4,948,755,853.39	5,104,237,311.82	5,162,703,305.88
DEPOSITS	38,903,180.89	2.57	1,513,036,584.54	1,311,034,546.15	1,437,684,538.56	1,423,205,733.93	1,559,535,216.31
Local	-122,156,195.58	-54.12	225,714,906.79	218,952,787.47	246,914,642.04	184,800,521.54	250,159,467.73
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Customers	0.00	0.00	0.00	0.00	1,400,838.44	0.00	0.00
Demand	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Time	0.00	0.00	0.00	0.00	1,400,838.44	0.00	0.00
Savings	0.00	0.00	0.00	0.00	0.00	0.00	0.00
From
Banks	-122,156,195.58	-54.12	225,714,906.79	218,952,787.47	245,513,803.60	184,800,521.54	250,159,467.73
Demand	-21,094,896.17	-89.99	23,441,831.87	22,583,638.33	17,629,784.93	13,046,533.96	11,162,032.63
Time	-101,061,299.41	-49.96	202,273,074.92	196,369,149.14	227,884,018.67	171,753,987.58	238,997,435.10
Foreign	161,059,376.47	12.51	1,287,321,677.75	1,092,081,758.68	1,190,769,896.52	1,238,405,212.39	1,309,375,748.58
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Customers	-9,857,103.27	-23.67	41,644,075.95	51,474,906.67	46,727,501.29	12,455,066.51	65,565,271.04
Demand	322,896.73	22.05	1,464,075.95	1,474,906.67	2,727,501.29	3,441,152.62	6,535,806.67
Time	-10,180,000.00	-25.34	40,180,000.00	50,000,000.00	44,000,000.00	9,013,913.89	59,029,464.37
Savings	0.00	0.00	0.00	0.00	0.00	0.00	0.00
From
Banks	170,916,479.74	13.72	1,245,677,601.80	1,040,606,852.01	1,144,042,395.23	1,225,950,145.88	1,243,810,477.54
Demand	5,325,871.24	6.12	86,983,250.05	94,067,907.24	104,019,526.16	78,317,765.09	37,444,518.18
Time	165,590,608.50	14.29	1,158,694,351.75	946,538,944.77	1,040,022,869.07	1,147,632,380.79	1,206,365,959.36
BORROWINGS	454,313,869.40	18.06	2,515,038,597.04	2,646,362,875.95	2,787,614,144.91	2,952,332,271.03	2,902,534,161.46
Local	-10,000,000.00	-25.00	40,000,000.00	40,000,000.00	50,000,000.00	50,000,126.79	50,000,000.00
Foreign	464,313,869.40	18.76	2,475,038,597.04	2,606,362,875.95	2,737,614,144.91	2,902,332,144.24	2,852,534,161.46
OTHER
LIABILITIES	103,578,015.59	92.86	111,537,872.66	132,364,806.35	134,356,889.45	147,344,908.68	98,317,207.28
Local	9,248,704.87	170.29	5,431,130.73	4,769,284.35	3,269,484.25	2,468,745.74	11,591,562.43
Foreign	94,329,310.72	88.90	106,106,741.93	127,595,522.00	131,087,405.20	144,876,162.94	86,725,644.85
STOCKHOLDERS´
EQUITY	-12,831,335.46	-2.17	590,211,182.74	581,838,924.86	589,100,280.61	581,354,398.29	602,316,720.95
Capital	1,095,348.64	0.39	281,334,661.62	281,418,007.88	281,495,976.96	281,612,180.17	281,778,127.62
Capital
Reserves	0.00	0.00	95,210,153.67	95,210,153.67	95,210,153.67	95,210,153.67	95,210,153.67
Other
Reserves	-2,540,099.00	126.40	-2,009,630.66	-3,992,368.66	-2,735,809.66	-3,981,842.66	-3,232,388.66
Retained
Earnings	24,394,066.78	13.95	174,894,542.39	223,306,964.95	223,306,964.95	215,305,532.21	215,305,532.21
Net
Income	-3,813,232.80	-7.88	48,412,430.48	4,793,662.04	8,998,568.04	14,168,698.56	18,196,171.43
Gain
or Loss in Securities available for sale	-31,967,419.08	418.92	-7,630,974.76	-18,897,495.02	-17,175,573.35	-20,960,323.66	-4,940,875.32
Subordinated
Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00
LIABILITIES
AND STOCKHOLDER'S EQUITY	583,963,730.42	12.35	4,729,824,236.98	4,671,601,153.31	4,948,755,853.53	5,104,237,311.93	5,162,703,306.00

*** Includes only Panama - New York accounts.**

**Monetary unit at par and equivalent with US$ dollars.

This is a free translation from Spanish original version, taken from the monthly publication of the Republica de Panamá

Superintendencia de Bancos (website: http://www.superbancos.gob.pa).

October 22, 2008

BANCO LATINOAMERICANO DE EXPORTACIONES BALANCE SHEETS DECEMBER 2007 AND JANUARY - SEPTEMBER 2008 (In Balboas)*

Description	2008 — May	June	July	August	September	October	November	December
LIQUID
ASSETS	336,767,457.10	348,888,538.19	336,729,056.48	473,204,059.94	445,219,951.04	0.00	0.00	0.00
Local
Deposits in Banks	206,238.55	165,920.03	540,189.06	579,066.57	157,675.75	0.00	0.00	0.00
Demand	206,238.55	165,920.03	540,189.06	579,066.57	157,675.75	0.00	0.00	0.00
Time	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Foreign
Deposits in Banks	336,554,858.90	348,717,340.66	336,183,524.53	472,620,428.43	445,058,874.57	0.00	0.00	0.00
Demand	18,354,858.90	14,817,340.66	19,283,524.53	19,120,428.43	204,558,874.57	0.00	0.00	0.00
Time	318,200,000.00	333,900,000.00	316,900,000.00	453,500,000.00	240,500,000.00	0.00	0.00	0.00
Less
Allowance	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Local	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Foreign	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Others	6,359.65	5,277.50	5,342.89	4,564.94	3,400.72	0.00	0.00	0.00
CREDIT
PORTFOLIO	4,027,295,445.25	4,034,845,678.96	4,030,880,094.26	3,883,016,311.03	3,799,062,214.29	0.00	0.00	0.00
Local	377,524,734.90	374,402,937.57	333,249,279.25	345,509,524.58	223,752,461.29	0.00	0.00	0.00
Foreign	3,720,115,663.99	3,730,203,493.47	3,767,410,459.07	3,607,419,585.84	3,644,395,741.92	0.00	0.00	0.00
Less
Allowance	70,344,953.64	69,760,752.08	69,779,644.06	69,912,799.39	69,085,988.92	0.00	0.00	0.00
Local	1,540,276.12	1,445,815.41	1,445,815.41	1,445,815.41	1,949,696.86	0.00	0.00	0.00
Foreign	68,804,677.52	68,314,936.67	68,333,828.65	68,466,983.98	67,136,292.06	0.00	0.00	0.00
INVESTMENT
SECURITIES	919,509,561.07	872,542,626.81	933,310,470.20	944,886,873.58	909,160,095.80	0.00	0.00	0.00
Local	77,805,900.00	76,693,917.46	93,139,600.00	93,634,400.00	91,316,750.00	0.00	0.00	0.00
Foreign	841,703,661.07	795,848,709.35	840,170,870.20	851,252,473.58	817,843,345.80	0.00	0.00	0.00
Less
Allowance	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Local	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Foreign	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
OTHER
ASSETS	122,065,321.83	119,856,242.53	79,637,068.31	78,010,455.22	160,345,706.26	0.00	0.00	0.00
Local	6,329,473.83	6,292,165.21	6,742,934.69	8,037,614.17	3,567,555.69	0.00	0.00	0.00
Foreign	115,735,848.00	113,564,077.32	72,894,133.62	69,972,841.05	156,778,150.57	0.00	0.00	0.00
TOTAL
ASSETS	5,405,637,785.25	5,376,133,086.49	5,380,556,689.25	5,379,117,699.77	5,313,787,967.39	0.00	0.00	0.00
DEPOSITS	1,696,862,977.95	1,737,019,470.86	1,702,694,840.47	1,676,054,486.53	1,551,939,765.43	0.00	0.00	0.00
Local	198,473,054.30	154,482,017.68	154,502,943.68	151,925,869.57	103,558,711.21	0.00	0.00	0.00
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Customers	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Demand	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Time	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Savings	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
From
Banks	198,473,054.30	154,482,017.68	154,502,943.68	151,925,869.57	103,558,711.21	0.00	0.00	0.00
Demand	3,465,682.55	3,457,172.14	2,209,452.24	2,443,821.28	2,346,935.70	0.00	0.00	0.00
Time	195,007,371.75	151,024,845.54	152,293,491.44	149,482,048.29	101,211,775.51	0.00	0.00	0.00
Foreign	1,498,389,923.65	1,582,537,453.18	1,548,191,896.79	1,524,128,616.96	1,448,381,054.22	0.00	0.00	0.00
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Customers	56,743,505.02	57,231,388.96	32,261,643.77	35,886,258.47	31,786,972.68	0.00	0.00	0.00
Demand	1,716,278.67	2,204,162.61	2,261,643.77	1,886,258.47	1,786,972.68	0.00	0.00	0.00
Time	55,027,226.35	55,027,226.35	30,000,000.00	34,000,000.00	30,000,000.00	0.00	0.00	0.00
Savings	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
From
Banks	1,441,646,418.63	1,525,306,064.22	1,515,930,253.02	1,488,242,358.49	1,416,594,081.54	0.00	0.00	0.00
Demand	48,574,467.01	98,552,979.88	74,617,789.92	64,833,685.46	92,309,121.29	0.00	0.00	0.00
Time	1,393,071,951.62	1,426,753,084.34	1,441,312,463.10	1,423,408,673.03	1,324,284,960.25	0.00	0.00	0.00
BORROWINGS	2,957,623,261.78	2,890,331,322.68	2,970,814,739.59	2,982,894,717.09	2,969,352,466.44	0.00	0.00	0.00
Local	50,000,000.00	40,000,000.00	40,000,000.00	30,000,000.00	30,000,000.00	0.00	0.00	0.00
Foreign	2,907,623,261.78	2,850,331,322.68	2,930,814,739.59	2,952,894,717.09	2,939,352,466.44	0.00	0.00	0.00
OTHER
LIABILITIES	131,949,109.68	140,789,924.01	100,150,278.79	107,921,733.96	215,115,888.25	0.00	0.00	0.00
Local	15,822,145.54	13,469,233.20	13,558,890.22	13,703,018.47	14,679,835.60	0.00	0.00	0.00
Foreign	116,126,964.14	127,320,690.81	86,591,388.57	94,218,715.49	200,436,052.65	0.00	0.00	0.00
STOCKHOLDERS´
EQUITY	619,202,435.86	607,992,368.94	606,896,830.42	612,246,762.17	577,379,847.28	0.00	0.00	0.00
Capital	281,874,453.37	281,978,936.94	282,074,942.15	282,179,267.52	282,430,010.26	0.00	0.00	0.00
Capital
Reserves	95,210,153.67	95,210,153.67	95,210,153.67	95,210,153.67	95,210,153.67	0.00	0.00	0.00
Other
Reserves	-1,697,897.66	-3,231,218.66	-5,087,832.66	-4,805,686.66	-4,549,729.66	0.00	0.00	0.00
Retained
Earnings	215,305,532.21	206,212,995.01	207,297,070.69	207,297,070.69	199,288,609.17	0.00	0.00	0.00
Net
Income	22,898,759.63	30,347,344.27	34,538,167.77	39,193,777.89	44,599,197.68	0.00	0.00	0.00
Gain
or Loss in Securities available for sale	5,611,434.64	-2,525,842.29	-7,135,671.20	-6,827,820.94	-39,598,393.84	0.00	0.00	0.00
Subordinated
Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
LIABILITIES
AND STOCKHOLDER'S EQUITY	5,405,637,785.27	5,376,133,086.49	5,380,556,689.27	5,379,117,699.75	5,313,787,967.40	0.00	0.00	0.00

*** Includes only Panama - New York accounts.**

**Monetary unit at par and equivalent with US$ dollars.

This is a free translation from Spanish original version, taken from the monthly publication of the Republica de Panamá

Superintendencia de Bancos (website: http://www.superbancos.gob.pa).

October 22, 2008

STATEMENTS OF INCOME * BANCO LATINOAMERICANO DE EXPORTACIONES, S.A. JANUARY -SEPTEMBER 2008 (In Balboas)**

Description	January	February	March	I — Quarter	April	May	June	II — Quarter
Interest
Income	23,820,708.96	21,140,086.39	21,895,027.77	66,855,823.12	20,071,956.67	20,586,557.84	19,811,416.20	60,469,930.71
Loans	19,873,381.83	17,551,077.63	17,945,101.32	55,369,560.78	16,406,376.06	16,855,184.26	16,428,422.51	49,689,982.83
Deposits	963,411.63	977,905.19	941,932.87	2,883,249.69	837,802.82	546,334.03	588,824.44	1,972,961.29
Investments	2,983,915.50	2,611,103.57	3,007,993.58	8,603,012.65	2,827,777.79	3,185,039.55	2,794,169.25	8,806,986.59
Interest
Expense	17,086,045.88	14,888,086.90	14,537,221.74	46,511,354.52	13,622,203.52	13,641,604.47	13,275,828.98	40,539,636.97
Interest	17,082,770.67	14,884,099.03	14,533,425.06	46,500,294.76	13,619,325.35	13,640,583.03	13,269,954.94	40,529,863.32
Commissions	3,275.21	3,987.87	3,796.68	11,059.76	2,878.17	1,021.44	5,874.04	9,773.65
Net
Interest Income	6,734,663.08	6,251,999.49	7,357,806.03	20,344,468.60	6,449,753.15	6,944,953.37	6,535,587.22	19,930,293.74
Other
Income	341,795.80	520,165.53	1,053,306.84	1,915,268.17	626,820.04	549,721.64	3,174,145.45	4,350,687.13
Commissions	541,754.03	505,491.03	686,481.33	1,733,726.39	495,604.65	714,567.17	711,322.28	1,921,494.10
Foreign
currency operations	-75.15	48,830.21	136,961.92	185,716.98	76,334.70	207,625.59	307,173.63	591,133.92
Other
Income	-199,883.08	-34,155.71	229,863.59	-4,175.20	54,880.69	-372,471.12	2,155,649.54	1,838,059.11
Operating
Income	7,076,458.88	6,772,165.02	8,411,112.87	22,259,736.77	7,076,573.19	7,494,675.01	9,709,732.67	24,280,980.87
Operating
Expenses	2,282,796.84	2,567,259.02	3,240,982.36	8,091,038.22	3,049,100.32	2,792,086.81	5,464,680.21	11,305,867.34
Administrative
expenses	1,326,096.44	1,600,317.40	1,839,856.93	4,766,270.77	1,601,121.41	1,651,783.11	2,046,553.55	5,299,458.07
General
expenses	285,612.41	386,276.73	433,369.71	1,105,258.85	833,429.96	424,247.42	203,223.21	1,460,900.59
Depreciation	217,222.95	215,560.48	219,552.46	652,335.89	218,210.99	216,082.99	215,173.57	649,467.55
Other
expenses	453,865.04	365,104.41	748,203.26	1,567,172.71	396,337.96	499,973.29	2,999,729.88	3,896,041.13
Net
Income before provision for loan losses	4,793,662.04	4,204,906.00	5,170,130.51	14,168,698.55	4,027,472.87	4,702,588.20	4,245,052.46	12,975,113.53
Provision
for loan losses	0.00	0.00	0.00	0.00	0.00	0.00	-3,203,532.18	-3,203,532.18
Net
Income	4,793,662.04	4,204,906.00	5,170,130.51	14,168,698.55	4,027,472.87	4,702,588.20	7,448,584.64	16,178,645.71

*** Includes only Panama - New York accounts.**

** Monetary unit at par and equivalent with US$ dollars.

This is a free translation from Spanish original version, taken from the monthly publication of the Republica de Panamá

Superintendencia de Bancos (website: http://www.superbancos.gob.pa).

October 22, 2008

STATEMENTS OF INCOME * BANCO LATINOAMERICANO DE EXPORTACIONES, S.A. JANUARY -SEPTEMBER 2008 (In Balboas)**

| Description | July | August | September | III — Quarter | October | November | December | IV — Quarter | Year
to date |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Interest
Income | 21,130,985.34 | 21,151,257.10 | 20,473,547.60 | 62,755,790.04 | 0.00 | 0.00 | 0.00 | 0.00 | 190,081,543.87 |
| Loans | 17,476,993.31 | 17,454,381.24 | 16,774,582.97 | 51,705,957.52 | 0.00 | 0.00 | 0.00 | 0.00 | 156,765,501.13 |
| Deposits | 625,901.60 | 630,691.09 | 835,810.05 | 2,092,402.74 | 0.00 | 0.00 | 0.00 | 0.00 | 6,948,613.72 |
| Investments | 3,028,090.43 | 3,066,184.77 | 2,863,154.58 | 8,957,429.78 | 0.00 | 0.00 | 0.00 | 0.00 | 26,367,429.02 |
| Interest
Expense | 13,846,560.26 | 13,849,429.24 | 13,766,096.79 | 41,462,086.29 | 0.00 | 0.00 | 0.00 | 0.00 | 128,513,077.78 |
| Interest | 13,840,419.39 | 13,846,169.64 | 13,765,254.37 | 41,451,843.40 | 0.00 | 0.00 | 0.00 | 0.00 | 128,482,001.48 |
| Commissions | 6,140.87 | 3,259.60 | 842.42 | 10,242.89 | 0.00 | 0.00 | 0.00 | 0.00 | 31,076.30 |
| Net
Interest Income | 7,284,425.08 | 7,301,827.86 | 6,707,450.81 | 21,293,703.75 | 0.00 | 0.00 | 0.00 | 0.00 | 61,568,466.09 |
| Other
Income | 604,109.33 | 257,732.15 | 1,222,751.72 | 2,084,593.20 | 0.00 | 0.00 | 0.00 | 0.00 | 8,350,548.50 |
| Commissions | 616,679.69 | 733,982.73 | 791,961.98 | 2,142,624.40 | 0.00 | 0.00 | 0.00 | 0.00 | 5,797,844.89 |
| Foreign
currency operations | -92,191.98 | -937,077.63 | 77,243.66 | -952,025.95 | 0.00 | 0.00 | 0.00 | 0.00 | -175,175.05 |
| Other
Income | 79,621.62 | 460,827.05 | 353,546.08 | 893,994.75 | 0.00 | 0.00 | 0.00 | 0.00 | 2,727,878.66 |
| Operating
Income | 7,888,534.41 | 7,559,560.01 | 7,930,202.53 | 23,378,296.95 | 0.00 | 0.00 | 0.00 | 0.00 | 69,919,014.59 |
| Operating
Expenses | 3,697,710.91 | 2,903,949.89 | 3,366,436.50 | 9,968,097.30 | 0.00 | 0.00 | 0.00 | 0.00 | 29,365,002.86 |
| Administrative
expenses | 1,601,643.09 | 1,622,459.65 | 1,639,168.75 | 4,863,271.49 | 0.00 | 0.00 | 0.00 | 0.00 | 14,929,000.33 |
| General
expenses | 438,014.96 | 518,195.08 | 415,716.97 | 1,371,927.01 | 0.00 | 0.00 | 0.00 | 0.00 | 3,938,086.45 |
| Depreciation | 1,185,152.20 | 280,025.81 | 200,351.64 | 1,665,529.65 | 0.00 | 0.00 | 0.00 | 0.00 | 2,967,333.09 |
| Other
expenses | 472,900.66 | 483,269.35 | 1,111,199.14 | 2,067,369.15 | 0.00 | 0.00 | 0.00 | 0.00 | 7,530,582.99 |
| Net
Income before provision for loan losses | 4,190,823.50 | 4,655,610.12 | 4,563,766.03 | 13,410,199.65 | 0.00 | 0.00 | 0.00 | 0.00 | 40,554,011.73 |
| Provision
for loan losses | 0.00 | 0.00 | -841,653.76 | -841,653.76 | 0.00 | 0.00 | 0.00 | 0.00 | -4,045,185.94 |
| Net
Income | 4,190,823.50 | 4,655,610.12 | 5,405,419.79 | 14,251,853.41 | 0.00 | 0.00 | 0.00 | 0.00 | 44,599,197.67 |

*** Includes only Panama - New York accounts.**

** Monetary unit at par and equivalent with US$ dollars.

This is a free translation from Spanish original version, taken from the monthly publication of the Republica de Panamá

Superintendencia de Bancos (website: http://www.superbancos.gob.pa).