FOREIGN TRADE BANK OF LATIN AMERICA, INC.

Foreign Filer Report • Aug 21, 2008

6-K 1 v124511_6k.htm

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 August, 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.

August 20, 2008

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

BANCO LATINOAMERICANO DE EXPORTACIONES BALANCE DE SITUACIÓN DE DICIEMBRE 2007 Y ENERO - JUNIO 2008 (En Balboas) 11 de Agosto de 2008

Descripción	Absoluta %	Diciembre	Enero	Febrero	Marzo	Abril
ACTIVOS
LIQUIDOS	-52,439,247.44	-13.07	401,327,785.63	294,054,753.39	403,828,804.69	487,583,782.85	337,155,177.39
Depositos
Locales en Bancos	-119,834.51	-41.94	285,754.54	233,625.57	225,027.61	257,527.62	256,156.02
A
la
Vista	-119,834.51	-41.94	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	-52,318,998.40	-13.05	401,036,339.06	293,816,988.13	403,599,292.09	487,320,706.18	336,892,774.62
A
la
Vista	13,381,001.60	931.60	1,436,339.06	6,216,988.13	5,099,292.09	3,720,706.18	5,592,774.62
A
Plazo	-65,700,000.00	-16.44	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	-414.53	-7.28	5,692.03	4,139.69	4,484.99	5,549.05	6,246.75
CARTERA
CREDITICIA	372,650,985.09	10.18	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	121,920,371.08	48.29	252,482,566.49	259,592,677.23	259,887,677.23	398,281,443.48	394,568,729.90
Extranjero	250,848,175.13	7.21	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	117,561.12	0.17	69,643,190.96	69,881,479.11	69,881,479.11	69,872,105.49	69,872,453.64
Locales	-94,460.71	-6.13	1,540,276.12	1,540,276.12	1,540,276.12	1,540,276.12	1,540,276.12
Extranjero	212,021.83	0.31	68,102,914.84	68,341,202.99	68,341,202.99	68,331,829.37	68,332,177.52
INVERSIONES
EN VALORES	297,233,758.08	51.67	575,308,868.73	720,927,339.13	752,313,401.97	802,295,101.08	879,029,360.69
Locales	4,497,917.46	6.23	72,196,000.00	72,611,200.00	78,024,276.58	78,098,235.64	78,001,617.06
Extranjero	292,735,840.62	58.18	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	28,863,353.81	31.72	90,992,888.72	107,647,561.41	108,664,901.06	109,454,265.51	79,599,768.90
Locales	2,017,511.80	47.20	4,274,653.41	3,776,255.93	4,822,408.82	4,493,961.80	6,599,230.09
Extranjero	26,845,842.01	30.96	86,718,235.31	103,871,305.48	103,842,492.24	104,960,303.71	73,000,538.81
TOTAL
DE ACTIVOS	646,308,849.54	13.66	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	223,982,886.32	14.80	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	-71,232,889.11	-31.56	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	-71,232,889.11	-31.56	225,714,906.79	218,952,787.47	245,513,803.60	184,800,521.54	250,159,467.73
A
la
Vista	-19,984,659.73	-85.25	23,441,831.87	22,583,638.33	17,629,784.93	13,046,533.96	11,162,032.63
A
Plazo	-51,248,229.38	-25.34	202,273,074.92	196,369,149.14	227,884,018.67	171,753,987.58	238,997,435.10
Extranjero	295,215,775.43	22.93	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	15,587,313.01	37.43	41,644,075.95	51,474,906.67	46,727,501.29	12,455,066.51	65,565,271.04
A
la
Vista	740,086.66	50.55	1,464,075.95	1,474,906.67	2,727,501.29	3,441,152.62	6,535,806.67
A
Plazo	14,847,226.35	36.95	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	279,628,462.42	22.45	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	11,569,729.83	13.30	86,983,250.05	94,067,907.24	104,019,526.16	78,317,765.09	37,444,518.18
A
Plazo	268,058,732.59	23.13	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	375,292,725.64	14.92	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	0.00	0.00	40,000,000.00	40,000,000.00	50,000,000.00	50,000,126.79	50,000,000.00
Extranjero	375,292,725.64	15.16	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	29,252,051.35	26.23	111,537,872.66	132,364,806.35	134,356,889.45	147,344,908.68	98,317,207.28
Locales	8,038,102.47	148.00	5,431,130.73	4,769,284.35	3,269,484.25	2,468,745.74	11,591,562.43
Extranjero	21,213,948.88	19.99	106,106,741.93	127,595,522.00	131,087,405.20	144,876,162.94	86,725,644.85
PATRIMONIO	17,781,186.20	3.01	590,211,182.74	581,838,924.86	589,100,280.61	581,354,398.29	602,316,720.95
Capital	644,275.32	0.23	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	-1,221,588.00	60.79	-2,009,630.66	-3,992,368.66	-2,735,809.66	-3,981,842.66	-3,232,388.66
Utilidad
de Periodos Anteriores	31,318,452.62	17.91	174,894,542.39	223,306,964.95	223,306,964.95	215,305,532.21	215,305,532.21
Utilidad
de Periodo	-18,065,086.21	-37.31	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	5,105,132.47	-66.90	-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	646,308,849.51	13.66	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

BANCO LATINOAMERICANO DE EXPORTACIONES BALANCE DE SITUACIÓN DE DICIEMBRE 2007 Y ENERO - JUNIO 2008 (En Balboas) 11 de Agosto de 2008

Descripción	2008 — Mayo	Junio	Julio	Agosto	Septiembre	Octubre	Noviembre	Diciembre
ACTIVOS
LIQUIDOS	336,767,457.10	348,888,538.19	0.00	0.00	0.00	0.00	0.00	0.00
Depositos
Locales en Bancos	206,238.55	165,920.03	0.00	0.00	0.00	0.00	0.00	0.00
A
la
Vista	206,238.55	165,920.03	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
Depositos
Extranjeros en Bancos	336,554,858.90	348,717,340.66	0.00	0.00	0.00	0.00	0.00	0.00
A
la
Vista	18,354,858.90	14,817,340.66	0.00	0.00	0.00	0.00	0.00	0.00
A
Plazo	318,200,000.00	333,900,000.00	0.00	0.00	0.00	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	0.00	0.00	0.00	0.00	0.00	0.00
CARTERA
CREDITICIA	4,027,295,445.25	4,034,845,678.96	0.00	0.00	0.00	0.00	0.00	0.00
Locales	377,524,734.90	374,402,937.57	0.00	0.00	0.00	0.00	0.00	0.00
Extranjero	3,720,115,663.99	3,730,203,493.47	0.00	0.00	0.00	0.00	0.00	0.00
Menos
Provisiones	70,344,953.64	69,760,752.08	0.00	0.00	0.00	0.00	0.00	0.00
Locales	1,540,276.12	1,445,815.41	0.00	0.00	0.00	0.00	0.00	0.00
Extranjero	68,804,677.52	68,314,936.67	0.00	0.00	0.00	0.00	0.00	0.00
INVERSIONES
EN VALORES	919,509,561.07	872,542,626.81	0.00	0.00	0.00	0.00	0.00	0.00
Locales	77,805,900.00	76,693,917.46	0.00	0.00	0.00	0.00	0.00	0.00
Extranjero	841,703,661.07	795,848,709.35	0.00	0.00	0.00	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
ACTIVOS	122,065,321.83	119,856,242.53	0.00	0.00	0.00	0.00	0.00	0.00
Locales	6,329,473.83	6,292,165.21	0.00	0.00	0.00	0.00	0.00	0.00
Extranjero	115,735,848.00	113,564,077.32	0.00	0.00	0.00	0.00	0.00	0.00
TOTAL
DE ACTIVOS	5,405,637,785.25	5,376,133,086.49	0.00	0.00	0.00	0.00	0.00	0.00
DEPOSITOS	1,696,862,977.95	1,737,019,470.86	0.00	0.00	0.00	0.00	0.00	0.00
Locales	198,473,054.30	154,482,017.68	0.00	0.00	0.00	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	0.00	0.00	0.00	0.00	0.00	0.00
A
la
Vista	3,465,682.55	3,457,172.14	0.00	0.00	0.00	0.00	0.00	0.00
A
Plazo	195,007,371.75	151,024,845.54	0.00	0.00	0.00	0.00	0.00	0.00
Extranjero	1,498,389,923.65	1,582,537,453.18	0.00	0.00	0.00	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	0.00	0.00	0.00	0.00	0.00	0.00
A
la
Vista	1,716,278.67	2,204,162.61	0.00	0.00	0.00	0.00	0.00	0.00
A
Plazo	55,027,226.35	55,027,226.35	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	1,441,646,418.63	1,525,306,064.22	0.00	0.00	0.00	0.00	0.00	0.00
A
la
Vista	48,574,467.01	98,552,979.88	0.00	0.00	0.00	0.00	0.00	0.00
A
Plazo	1,393,071,951.62	1,426,753,084.34	0.00	0.00	0.00	0.00	0.00	0.00
OBLIGACIONES	2,957,623,261.78	2,890,331,322.68	0.00	0.00	0.00	0.00	0.00	0.00
Locales	50,000,000.00	40,000,000.00	0.00	0.00	0.00	0.00	0.00	0.00
Extranjero	2,907,623,261.78	2,850,331,322.68	0.00	0.00	0.00	0.00	0.00	0.00
OTROS
PASIVOS	131,949,109.68	140,789,924.01	0.00	0.00	0.00	0.00	0.00	0.00
Locales	15,822,145.54	13,469,233.20	0.00	0.00	0.00	0.00	0.00	0.00
Extranjero	116,126,964.14	127,320,690.81	0.00	0.00	0.00	0.00	0.00	0.00
PATRIMONIO	619,202,435.86	607,992,368.94	0.00	0.00	0.00	0.00	0.00	0.00
Capital	281,874,453.37	281,978,936.94	0.00	0.00	0.00	0.00	0.00	0.00
Reservas
de Capital	95,210,153.67	95,210,153.67	0.00	0.00	0.00	0.00	0.00	0.00
Otras
Reservas	-1,697,897.66	-3,231,218.66	0.00	0.00	0.00	0.00	0.00	0.00
Utilidad
de Periodos Anteriores	215,305,532.21	206,212,995.01	0.00	0.00	0.00	0.00	0.00	0.00
Utilidad
de Periodo	22,898,759.63	30,347,344.27	0.00	0.00	0.00	0.00	0.00	0.00
Ganancia
o Perdida en Valores Disponible para la venta	5,611,434.64	-2,525,842.29	0.00	0.00	0.00	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	0.00	0.00	0.00	0.00	0.00	0.00

ESTADO DE RESULTADO BANCO LATINOAMERICANO DE EXPORTACIONES, S.A. ENERO - JUNIO 2008 (En Balboas) 11 de Agosto de 2008

| 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 |

ESTADO DE RESULTADO BANCO LATINOAMERICANO DE EXPORTACIONES, S.A. ENERO - JUNIO 2008 (En Balboas) 11 de Agosto de 2008

| Descripcion — Ingresos
Por Intereses | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 127,325,753.83 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Préstamos | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 105,059,543.61 |
| Depósitos | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 4,856,210.98 |
| Inversiones | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 17,409,999.24 |
| Egresos
de Operaciones | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 87,050,991.49 |
| Intereses
Pagados | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 87,030,158.08 |
| Comisiones | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 20,833.41 |
| Ingreso
Neto de Intereses | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 40,274,762.34 |
| Otros
Ingresos | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 6,265,955.30 |
| Comisiones | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 3,655,220.49 |
| Operaciones
con Divisas | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 776,850.90 |
| Otros
ingresos | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1,833,883.91 |
| Ingresos
de Operaciones | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 46,540,717.64 |
| Egresos
Generales | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 19,396,905.56 |
| Gastos
Administrativos | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 10,065,728.84 |
| Gastos
Generales | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 2,566,159.44 |
| Gastos
de Depreciación | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1,301,803.44 |
| Otros
Gastos | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 5,463,213.84 |
| Utilidad
antes de Provisiones | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 27,143,812.08 |
| Provisiones
por Cuentas Malas | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -3,203,532.18 |
| Utilidad
del Periodo | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 30,347,344.26 |

BANCO LATINOAMERICANO DE EXPORTACIONES BALANCE SHEETS DECEMBER 2007 AND JANUARY - JUNE 2008 (In Balboas)* August 11, 2008

Description	Absolute %	December	January	February	March	April
LIQUID
ASSETS	-52,439,247.44	-13.07	401,327,785.63	294,054,753.39	403,828,804.69	487,583,782.85	337,155,177.39
Local
Deposits in Banks	-119,834.51	-41.94	285,754.54	233,625.57	225,027.61	257,527.62	256,156.02
Demand	-119,834.51	-41.94	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	-52,318,998.40	-13.05	401,036,339.06	293,816,988.13	403,599,292.09	487,320,706.18	336,892,774.62
Demand	13,381,001.60	931.60	1,436,339.06	6,216,988.13	5,099,292.09	3,720,706.18	5,592,774.62
Time	-65,700,000.00	-16.44	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	-414.53	-7.28	5,692.03	4,139.69	4,484.99	5,549.05	6,246.75
CREDIT
PORTFOLIO	372,650,985.09	10.18	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	121,920,371.08	48.29	252,482,566.49	259,592,677.23	259,887,677.23	398,281,443.48	394,568,729.90
Foreign	250,848,175.13	7.21	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	117,561.12	0.17	69,643,190.96	69,881,479.11	69,881,479.11	69,872,105.49	69,872,453.64
Local	-94,460.71	-6.13	1,540,276.12	1,540,276.12	1,540,276.12	1,540,276.12	1,540,276.12
Foreign	212,021.83	0.31	68,102,914.84	68,341,202.99	68,341,202.99	68,331,829.37	68,332,177.52
INVESTMENT
SECURITIES	297,233,758.08	51.67	575,308,868.73	720,927,339.13	752,313,401.97	802,295,101.08	879,029,360.69
Local	4,497,917.46	6.23	72,196,000.00	72,611,200.00	78,024,276.58	78,098,235.64	78,001,617.06
Foreign	292,735,840.62	58.18	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	28,863,353.81	31.72	90,992,888.72	107,647,561.41	108,664,901.06	109,454,265.51	79,599,768.90
Local	2,017,511.80	47.20	4,274,653.41	3,776,255.93	4,822,408.82	4,493,961.80	6,599,230.09
Foreign	26,845,842.01	30.96	86,718,235.31	103,871,305.48	103,842,492.24	104,960,303.71	73,000,538.81
TOTAL
ASSETS	646,308,849.54	13.66	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	223,982,886.32	14.80	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	-71,232,889.11	-31.56	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	-71,232,889.11	-31.56	225,714,906.79	218,952,787.47	245,513,803.60	184,800,521.54	250,159,467.73
Demand	-19,984,659.73	-85.25	23,441,831.87	22,583,638.33	17,629,784.93	13,046,533.96	11,162,032.63
Time	-51,248,229.38	-25.34	202,273,074.92	196,369,149.14	227,884,018.67	171,753,987.58	238,997,435.10
Foreign	295,215,775.43	22.93	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	15,587,313.01	37.43	41,644,075.95	51,474,906.67	46,727,501.29	12,455,066.51	65,565,271.04
Demand	740,086.66	50.55	1,464,075.95	1,474,906.67	2,727,501.29	3,441,152.62	6,535,806.67
Time	14,847,226.35	36.95	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	279,628,462.42	22.45	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	11,569,729.83	13.30	86,983,250.05	94,067,907.24	104,019,526.16	78,317,765.09	37,444,518.18
Time	268,058,732.59	23.13	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	375,292,725.64	14.92	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	0.00	0.00	40,000,000.00	40,000,000.00	50,000,000.00	50,000,126.79	50,000,000.00
Foreign	375,292,725.64	15.16	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	29,252,051.35	26.23	111,537,872.66	132,364,806.35	134,356,889.45	147,344,908.68	98,317,207.28
Local	8,038,102.47	148.00	5,431,130.73	4,769,284.35	3,269,484.25	2,468,745.74	11,591,562.43
Foreign	21,213,948.88	19.99	106,106,741.93	127,595,522.00	131,087,405.20	144,876,162.94	86,725,644.85
STOCKHOLDERS´
EQUITY	17,781,186.20	3.01	590,211,182.74	581,838,924.86	589,100,280.61	581,354,398.29	602,316,720.95
Capital	644,275.32	0.23	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	-1,221,588.00	60.79	-2,009,630.66	-3,992,368.66	-2,735,809.66	-3,981,842.66	-3,232,388.66
Retained
Earnings	31,318,452.62	17.91	174,894,542.39	223,306,964.95	223,306,964.95	215,305,532.21	215,305,532.21
Net
Income	-18,065,086.21	-37.31	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	5,105,132.47	-66.90	-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	646,308,849.51	13.66	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).

BANCO LATINOAMERICANO DE EXPORTACIONES BALANCE SHEETS DECEMBER 2007 AND JANUARY - JUNE 2008 (In Balboas)* August 11, 2008

Description	2008 — May	June	July	August	September	October	November	December
LIQUID
ASSETS	336,767,457.10	348,888,538.19	0.00	0.00	0.00	0.00	0.00	0.00
Local
Deposits in Banks	206,238.55	165,920.03	0.00	0.00	0.00	0.00	0.00	0.00
Demand	206,238.55	165,920.03	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
Foreign
Deposits in Banks	336,554,858.90	348,717,340.66	0.00	0.00	0.00	0.00	0.00	0.00
Demand	18,354,858.90	14,817,340.66	0.00	0.00	0.00	0.00	0.00	0.00
Time	318,200,000.00	333,900,000.00	0.00	0.00	0.00	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	0.00	0.00	0.00	0.00	0.00	0.00
CREDIT
PORTFOLIO	4,027,295,445.25	4,034,845,678.96	0.00	0.00	0.00	0.00	0.00	0.00
Local	377,524,734.90	374,402,937.57	0.00	0.00	0.00	0.00	0.00	0.00
Foreign	3,720,115,663.99	3,730,203,493.47	0.00	0.00	0.00	0.00	0.00	0.00
Less
Allowance	70,344,953.64	69,760,752.08	0.00	0.00	0.00	0.00	0.00	0.00
Local	1,540,276.12	1,445,815.41	0.00	0.00	0.00	0.00	0.00	0.00
Foreign	68,804,677.52	68,314,936.67	0.00	0.00	0.00	0.00	0.00	0.00
INVESTMENT
SECURITIES	919,509,561.07	872,542,626.81	0.00	0.00	0.00	0.00	0.00	0.00
Local	77,805,900.00	76,693,917.46	0.00	0.00	0.00	0.00	0.00	0.00
Foreign	841,703,661.07	795,848,709.35	0.00	0.00	0.00	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
OTHER
ASSETS	122,065,321.83	119,856,242.53	0.00	0.00	0.00	0.00	0.00	0.00
Local	6,329,473.83	6,292,165.21	0.00	0.00	0.00	0.00	0.00	0.00
Foreign	115,735,848.00	113,564,077.32	0.00	0.00	0.00	0.00	0.00	0.00
TOTAL
ASSETS	5,405,637,785.25	5,376,133,086.49	0.00	0.00	0.00	0.00	0.00	0.00
DEPOSITS	1,696,862,977.95	1,737,019,470.86	0.00	0.00	0.00	0.00	0.00	0.00
Local	198,473,054.30	154,482,017.68	0.00	0.00	0.00	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	0.00	0.00	0.00	0.00	0.00	0.00
Demand	3,465,682.55	3,457,172.14	0.00	0.00	0.00	0.00	0.00	0.00
Time	195,007,371.75	151,024,845.54	0.00	0.00	0.00	0.00	0.00	0.00
Foreign	1,498,389,923.65	1,582,537,453.18	0.00	0.00	0.00	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	0.00	0.00	0.00	0.00	0.00	0.00
Demand	1,716,278.67	2,204,162.61	0.00	0.00	0.00	0.00	0.00	0.00
Time	55,027,226.35	55,027,226.35	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	1,441,646,418.63	1,525,306,064.22	0.00	0.00	0.00	0.00	0.00	0.00
Demand	48,574,467.01	98,552,979.88	0.00	0.00	0.00	0.00	0.00	0.00
Time	1,393,071,951.62	1,426,753,084.34	0.00	0.00	0.00	0.00	0.00	0.00
BORROWINGS	2,957,623,261.78	2,890,331,322.68	0.00	0.00	0.00	0.00	0.00	0.00
Local	50,000,000.00	40,000,000.00	0.00	0.00	0.00	0.00	0.00	0.00
Foreign	2,907,623,261.78	2,850,331,322.68	0.00	0.00	0.00	0.00	0.00	0.00
OTHER
LIABILITIES	131,949,109.68	140,789,924.01	0.00	0.00	0.00	0.00	0.00	0.00
Local	15,822,145.54	13,469,233.20	0.00	0.00	0.00	0.00	0.00	0.00
Foreign	116,126,964.14	127,320,690.81	0.00	0.00	0.00	0.00	0.00	0.00
STOCKHOLDERS´
EQUITY	619,202,435.86	607,992,368.94	0.00	0.00	0.00	0.00	0.00	0.00
Capital	281,874,453.37	281,978,936.94	0.00	0.00	0.00	0.00	0.00	0.00
Capital
Reserves	95,210,153.67	95,210,153.67	0.00	0.00	0.00	0.00	0.00	0.00
Other
Reserves	-1,697,897.66	-3,231,218.66	0.00	0.00	0.00	0.00	0.00	0.00
Retained
Earnings	215,305,532.21	206,212,995.01	0.00	0.00	0.00	0.00	0.00	0.00
Net
Income	22,898,759.63	30,347,344.27	0.00	0.00	0.00	0.00	0.00	0.00
Gain
or Loss in Securities available for sale	5,611,434.64	-2,525,842.29	0.00	0.00	0.00	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	0.00	0.00	0.00	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).

STATEMENTS OF INCOME * BANCO LATINOAMERICANO DE EXPORTACIONES, S.A. JANUARY - JUNE 2008 (In Balboas)** August 11, 2008

| Description — 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 ).

STATEMENTS OF INCOME * BANCO LATINOAMERICANO DE EXPORTACIONES, S.A. JANUARY - JUNE 2008 (In Balboas)** August 11, 2008

| Description — Interest
Income | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 127,325,753.83 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Loans | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 105,059,543.61 |
| Deposits | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 4,856,210.98 |
| Investments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 17,409,999.24 |
| Interest
Expense | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 87,050,991.49 |
| Interest | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 87,030,158.08 |
| Commissions | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 20,833.41 |
| Net
Interest Income | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 40,274,762.34 |
| Other
Income | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 6,265,955.30 |
| Commissions | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 3,655,220.49 |
| Foreign
currency operations | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 776,850.90 |
| Other
Income | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1,833,883.91 |
| Operating
Income | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 46,540,717.64 |
| Operating
Expenses | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 19,396,905.56 |
| Administrative
expenses | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 10,065,728.84 |
| General
expenses | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 2,566,159.44 |
| Depreciation | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1,301,803.44 |
| Other
expenses | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 5,463,213.84 |
| Net
Income before provision for loan losses | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 27,143,812.08 |
| Provision
for loan losses | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -3,203,532.18 |
| Net
Income | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 30,347,344.26 |

*** 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 ).