FOREIGN TRADE BANK OF LATIN AMERICA, INC.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE

SECURITIES EXCHANGE ACT OF 1934

For the month of October, 2009

BANCO LATINOAMERICANO DE COMERCIO EXTERIOR, S.A.

(Exact name of Registrant as specified in its Charter)

FOREIGN TRADE BANK OF LATIN AMERICA, INC.

(Translation of Registrant’s name into English)

Calle 50 y Aquilino de la Guardia

P.O. Box 0819-08730

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 29, 2009

| FOREIGN
TRADE BANK OF LATIN AMERICA, INC. |
| --- |
| By:
/s/ Pedro Toll |
| Name: Pedro Toll |
| Title:
General Manager |

Nota: Los datos de esta información no son consolidados y excluyen la data de Bladex Asset Management Inc., Bladex Holdings Inc., Clavex S.A., Bladex Offshore Feeder Fund y Bladex Representacao Ltda.

29 de octubre de 2009

●
BALANCE
DE SITUACIÓN DE DICIEMBRE 2008 Y ENERO - AGOSTO 2009
(En
Balboas) *

Descripción	Absoluta %	Diciembre	Enero	Febrero	Marzo	Abril
ACTIVOS
LIQUIDOS	-345,866,837.26	-38.41	900,408,387.46	717,808,031.28	665,592,478.18	605,053,408.84	714,371,384.83
Depositos
Locales en Bancos	68,256.14	57.03	119,678.71	266,933.91	166,228.99	130,796.55	112,519.31
A la
Vista	68,256.14	57.03	119,678.71	266,933.91	166,228.99	130,796.55	112,519.31
A
Plazo	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Depositos
Extranjeros en Bancos	-345,938,191.87	-38.43	900,280,189.52	717,408,834.01	665,420,617.82	604,911,611.35	714,248,175.75
A la
Vista	-440,838,191.87	-72.83	605,280,189.52	443,408,834.01	299,420,617.82	244,911,611.35	304,248,175.75
A
Plazo	94,900,000.00	32.17	295,000,000.00	274,000,000.00	366,000,000.00	360,000,000.00	410,000,000.00
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	3,098.47	36.37	8,519.23	132,263.36	5,631.37	11,000.94	10,689.77
CARTERA
CREDITICIA	-152,812,120.54	-5.96	2,563,995,557.03	2,625,259,226.06	2,574,391,867.97	2,542,991,544.55	2,467,291,611.82
Locales	2,247,092.61	1.53	146,426,161.11	173,845,131.64	162,779,663.97	176,122,935.24	169,884,836.48
Extranjero	-119,464,681.04	-4.83	2,472,217,297.78	2,506,098,077.87	2,466,369,654.50	2,447,443,976.64	2,377,980,871.89
Menos
Provisiones	35,594,532.11	65.13	54,647,901.86	54,683,983.45	54,757,450.50	80,575,367.33	80,574,096.55
Locales	1,413,232.96	71.49	1,976,899.07	1,976,899.07	1,976,899.07	4,414,252.71	4,414,252.71
Extranjero	34,181,299.15	64.90	52,671,002.79	52,707,084.38	52,780,551.43	76,161,114.62	76,159,843.84
INVERSIONES
EN VALORES	-54,030,473.37	-6.85	788,240,705.29	765,500,339.63	734,731,700.59	856,516,453.83	865,946,982.61
Locales	-41,918,314.24	-49.07	85,418,314.23	86,488,314.23	85,982,128.43	90,117,500.00	92,097,500.00
Extranjero	-12,112,159.13	-1.72	702,822,391.06	679,012,025.40	648,749,572.16	766,398,953.83	773,849,482.61
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	-14,742,445.10	-21.01	70,168,089.80	61,211,751.15	62,248,402.29	53,503,328.21	56,411,130.59
Locales	-6,227,369.93	-49.83	12,497,285.64	7,648,698.17	9,131,122.10	6,008,575.50	6,775,089.32
Extranjero	-8,515,075.17	-14.76	57,670,804.16	53,563,052.98	53,117,280.19	47,494,752.71	49,636,041.27
TOTAL
DE ACTIVOS	-567,451,876.27	-13.13	4,322,812,739.58	4,169,779,348.12	4,036,964,449.03	4,058,064,735.43	4,104,021,109.85
DEPOSITOS	39,308,491.78	3.36	1,169,705,848.32	1,194,733,108.43	1,217,741,248.70	1,216,766,442.16	1,147,397,707.70
Locales	36,005,039.05	51.97	69,284,763.22	71,361,388.44	93,151,832.86	83,715,903.77	88,792,169.93
Oficiales	0.00	0.00	0.00	0.00	0.00	0.00	0.00
De
Particulares	-10,000,000.00	-100.00	10,000,000.00	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
A
Plazo	-10,000,000.00	-100.00	10,000,000.00	0.00	0.00	0.00	0.00
De
Ahorros	0.00	0.00	0.00	0.00	0.00	0.00	0.00
De
Bancos	46,005,039.05	77.60	59,284,763.22	71,361,388.44	93,151,832.86	83,715,903.77	88,792,169.93
A la
Vista	-1,669,875.89	-85.65	1,949,582.22	1,811,078.40	1,998,473.25	256,698.83	300,735.28
A
Plazo	47,674,914.94	83.15	57,335,181.00	69,550,310.04	91,153,359.61	83,459,204.94	88,491,434.65
Extranjero	3,303,452.73	0.30	1,100,421,085.10	1,123,371,719.99	1,124,589,415.84	1,133,050,538.39	1,058,605,537.77
Oficiales	0.00	0.00	0.00	0.00	0.00	0.00	0.00
De
Particulares	-501,225.35	-8.30	6,040,084.86	2,039,059.60	2,082,474.99	5,319,493.77	28,779,906.58
A la
Vista	3,276,554.95	213.44	1,535,090.42	1,534,684.60	1,578,099.99	1,815,118.77	3,779,906.58
A
Plazo	-3,777,780.30	-83.86	4,504,994.44	504,375.00	504,375.00	3,504,375.00	25,000,000.00
De
Ahorros	0.00	0.00	0.00	0.00	0.00	0.00	0.00
De
Bancos	3,804,678.08	0.35	1,094,381,000.24	1,121,332,660.39	1,122,506,940.85	1,127,731,044.62	1,029,825,631.19
A la
Vista	-38,954,940.13	-35.35	110,194,972.25	78,005,924.10	91,304,980.79	53,766,988.66	44,229,767.30
A
Plazo	42,759,618.21	4.34	984,186,027.99	1,043,326,736.29	1,031,201,960.06	1,073,964,055.96	985,595,863.89
OBLIGACIONES	-604,300,119.85	-24.85	2,432,030,377.24	2,229,666,397.91	2,104,626,539.11	2,167,251,487.27	2,260,963,042.20
Locales	4,900,000.00	24.38	20,100,000.00	16,900,000.00	11,800,000.00	0.00	0.00
Extranjero	-609,200,119.85	-25.26	2,411,930,377.24	2,212,766,397.91	2,092,826,539.11	2,167,251,487.27	2,260,963,042.20
OTROS
PASIVOS	-74,926,734.06	-40.26	186,090,509.36	185,549,413.63	157,691,719.82	121,266,171.66	117,074,330.21
Locales	-10,854,200.72	-74.33	14,602,722.51	14,526,998.13	3,523,167.99	8,040,512.59	8,556,100.60
Extranjero	-64,072,533.34	-37.36	171,487,786.85	171,022,415.50	154,168,551.83	113,225,659.07	108,518,229.61
PATRIMONIO	72,466,486.04	13.55	534,986,004.71	559,830,428.20	556,904,941.40	552,780,634.19	578,586,029.03
Capital	1,847,787.76	0.65	282,794,414.74	282,906,856.00	283,012,670.14	283,151,067.79	283,285,001.00
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	2,222,560.11	-37.26	-5,964,753.66	-4,633,080.66	-3,334,858.66	-44,198,634.92	-1,034,258.05
Utilidad
de Periodos Anteriores	26,876,546.94	14.05	191,275,312.05	229,096,975.05	229,096,975.05	223,633,661.58	223,633,606.98
Utilidad
de Periodo	-11,813,071.68	-31.23	37,821,663.04	8,549,170.42	9,411,562.60	7,949,221.38	14,266,514.05
Ganancia
o Perdida en Valores Disponible para la venta	53,332,662.91	-80.62	-66,150,785.13	-51,299,646.28	-56,491,561.40	-12,964,835.31	-36,774,988.62
Deuda
Subordinada	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PASIVO
Y PATRIMONIO	-567,451,876.09	-13.13	4,322,812,739.63	4,169,779,348.17	4,036,964,449.03	4,058,064,735.28	4,104,021,109.14

*La unidad monetaria es par y equivalentes con el US$ dólar.

Esta es una copia de la versión original, tomada de la publicación mensual de la Superintendencia de Bancos de Panamá.

(sitioweb: http://www.superbancos.gob.pa).

29 de octubre de 2009

●
BALANCE
DE SITUACIÓN DE DICIEMBRE 2008 Y ENERO - AGOSTO 2009
(En
Balboas) *

Descripción	2009 — Mayo	Junio	Julio	Agosto	Septiembre	Octubre	Noviembre	Diciembre
ACTIVOS
LIQUIDOS	598,888,072.80	484,519,897.02	519,272,552.19	554,541,550.20	0.00	0.00	0.00	0.00
Depositos
Locales en Bancos	147,954.60	101,817.74	246,125.36	187,934.85	0.00	0.00	0.00	0.00
A la
Vista	147,954.60	101,817.74	246,125.36	187,934.85	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	598,731,847.10	484,410,056.48	519,015,601.76	554,341,997.65	0.00	0.00	0.00	0.00
A la
Vista	148,731,847.10	79,410,056.48	167,315,601.76	164,441,997.65	0.00	0.00	0.00	0.00
A
Plazo	450,000,000.00	405,000,000.00	351,700,000.00	389,900,000.00	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	8,271.10	8,022.80	10,825.07	11,617.70	0.00	0.00	0.00	0.00
CARTERA
CREDITICIA	2,437,789,432.53	2,591,388,011.59	2,455,882,697.75	2,411,183,436.49	0.00	0.00	0.00	0.00
Locales	156,515,940.91	163,152,197.62	164,110,511.67	148,673,253.72	0.00	0.00	0.00	0.00
Extranjero	2,361,852,947.87	2,518,480,397.64	2,382,016,769.75	2,352,752,616.74	0.00	0.00	0.00	0.00
Menos
Provisiones	80,579,456.25	90,244,583.67	90,244,583.67	90,242,433.97	0.00	0.00	0.00	0.00
Locales	4,414,252.71	3,390,132.03	3,390,132.03	3,390,132.03	0.00	0.00	0.00	0.00
Extranjero	76,165,203.54	86,854,451.64	86,854,451.64	86,852,301.94	0.00	0.00	0.00	0.00
INVERSIONES
EN VALORES	877,173,391.04	879,386,953.53	880,612,999.70	734,210,231.92	0.00	0.00	0.00	0.00
Locales	93,545,399.49	94,004,099.83	94,465,600.00	43,499,999.99	0.00	0.00	0.00	0.00
Extranjero	783,627,991.55	785,382,853.70	786,147,399.70	690,710,231.93	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	56,851,332.30	56,457,781.60	52,504,623.92	55,425,644.70	0.00	0.00	0.00	0.00
Locales	6,840,558.32	6,170,141.54	6,817,446.71	6,269,915.71	0.00	0.00	0.00	0.00
Extranjero	50,010,773.98	50,287,640.06	45,687,177.21	49,155,728.99	0.00	0.00	0.00	0.00
TOTAL
DE ACTIVOS	3,970,702,228.67	4,011,752,643.74	3,908,272,873.56	3,755,360,863.31	0.00	0.00	0.00	0.00
DEPOSITOS	1,120,018,913.25	1,261,055,899.46	1,251,135,039.43	1,209,014,340.10	0.00	0.00	0.00	0.00
Locales	46,833,464.29	107,842,679.09	99,689,243.09	105,289,802.27	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	46,833,464.29	107,842,679.09	99,689,243.09	105,289,802.27	0.00	0.00	0.00	0.00
A la
Vista	292,102.36	295,670.56	242,837.44	279,706.33	0.00	0.00	0.00	0.00
A
Plazo	46,541,361.93	107,547,008.53	99,446,405.65	105,010,095.94	0.00	0.00	0.00	0.00
Extranjero	1,073,185,448.96	1,153,213,220.37	1,151,445,796.34	1,103,724,537.83	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	21,625,418.87	12,133,554.61	11,626,243.77	5,538,859.51	0.00	0.00	0.00	0.00
A la
Vista	1,576,418.87	2,133,554.61	1,626,243.77	4,811,645.37	0.00	0.00	0.00	0.00
A
Plazo	20,049,000.00	10,000,000.00	10,000,000.00	727,214.14	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	1,051,560,030.09	1,141,079,665.76	1,139,819,552.57	1,098,185,678.32	0.00	0.00	0.00	0.00
A la
Vista	66,499,310.11	154,233,381.53	53,911,580.66	71,240,032.12	0.00	0.00	0.00	0.00
A
Plazo	985,060,719.98	986,846,284.23	1,085,907,971.91	1,026,945,646.20	0.00	0.00	0.00	0.00
OBLIGACIONES	2,147,349,144.52	2,048,985,848.28	1,940,977,247.57	1,827,730,257.39	0.00	0.00	0.00	0.00
Locales	0.00	25,000,000.00	25,000,000.00	25,000,000.00	0.00	0.00	0.00	0.00
Extranjero	2,147,349,144.52	2,023,985,848.28	1,915,977,247.57	1,802,730,257.39	0.00	0.00	0.00	0.00
OTROS
PASIVOS	107,326,591.64	110,329,704.16	109,138,591.82	111,163,775.30	0.00	0.00	0.00	0.00
Locales	3,346,440.41	8,882,402.20	5,463,759.62	3,748,521.79	0.00	0.00	0.00	0.00
Extranjero	103,980,151.23	101,447,301.96	103,674,832.20	107,415,253.51	0.00	0.00	0.00	0.00
PATRIMONIO	596,007,579.36	591,381,191.85	607,021,995.14	607,452,490.75	0.00	0.00	0.00	0.00
Capital	284,231,828.41	284,365,761.62	284,498,708.29	284,642,202.50	0.00	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	0.00	0.00	0.00	0.00
Otras
Reservas	-2,451,423.40	-2,726,992.69	-2,773,185.29	-3,742,193.55	0.00	0.00	0.00	0.00
Utilidad
de Periodos Anteriores	223,633,606.98	218,157,901.41	218,151,858.99	218,151,858.99	0.00	0.00	0.00	0.00
Utilidad
de Periodo	20,299,961.01	14,916,229.31	22,498,415.57	26,008,591.36	0.00	0.00	0.00	0.00
Ganancia
o Perdida en Valores Disponible para la venta	-24,916,547.31	-18,541,861.47	-10,563,956.09	-12,818,122.22	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	3,970,702,228.77	4,011,752,643.75	3,908,272,873.96	3,755,360,863.54	0.00	0.00	0.00	0.00

*La unidad monetaria es par y equivalentes con el US$ dólar.

Esta es una copia de la versión original, tomada de la publicación mensual de la Superintendencia de Bancos de Panamá.

(sitioweb: http://www.superbancos.gob.pa).

●
ESTADO
DE RESULTADO
BANCO LATINOAMERICANO
DE COMERCIO EXTERIOR, S.A.
ENERO
- AGOSTO 2009
(En
Balboas) *

| Descripcion — Ingresos
Por Intereses | 13,900,446.36 | 12,497,312.76 | 13,830,744.79 | 40,228,503.91 | 12,944,591.06 | 12,805,093.14 | 12,201,265.27 | 37,950,949.47 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Préstamos | 11,450,587.66 | 10,265,841.03 | 10,878,984.52 | 32,595,413.21 | 10,229,222.42 | 9,983,752.91 | 9,608,604.58 | 29,821,579.91 |
| Depósitos | 108,729.95 | 115,900.20 | 142,229.63 | 366,859.78 | 136,613.33 | 135,896.00 | 122,858.31 | 395,367.64 |
| Inversiones | 2,341,128.75 | 2,115,571.53 | 2,809,530.64 | 7,266,230.92 | 2,578,755.31 | 2,685,444.23 | 2,469,802.38 | 7,734,001.92 |
| Egresos
de Operaciones | 9,146,492.08 | 8,200,665.93 | 7,401,800.67 | 24,748,958.68 | 7,228,525.28 | 7,259,973.74 | 6,461,702.06 | 20,950,201.08 |
| Intereses
Pagados | 9,143,542.09 | 8,195,792.71 | 7,393,271.94 | 24,732,606.74 | 7,220,736.76 | 7,255,742.31 | 6,454,777.82 | 20,931,256.89 |
| Comisiones | 2,949.99 | 4,873.22 | 8,528.73 | 16,351.94 | 7,788.52 | 4,231.43 | 6,924.24 | 18,944.19 |
| Ingreso
Neto de Intereses | 4,753,954.28 | 4,296,646.83 | 6,428,944.12 | 15,479,545.23 | 5,716,065.78 | 5,545,119.40 | 5,739,563.21 | 17,000,748.39 |
| Otros
Ingresos | 6,348,507.00 | 2,187,989.67 | 824,719.93 | 9,361,216.60 | 2,991,580.96 | 3,167,205.30 | 632,611.09 | 6,791,397.35 |
| Comisiones | 817,932.36 | 806,833.89 | 584,106.38 | 2,208,872.63 | 265,036.18 | 244,653.74 | 200,501.71 | 710,191.63 |
| Otros
ingresos | 5,530,574.64 | 1,381,155.78 | 240,613.55 | 7,152,343.97 | 2,726,544.78 | 2,922,551.56 | 432,109.38 | 6,081,205.72 |
| Ingresos
de Operaciones | 11,102,461.28 | 6,484,636.50 | 7,253,664.05 | 24,840,761.83 | 8,707,646.74 | 8,712,324.70 | 6,372,174.30 | 23,792,145.74 |
| Egresos
Generales | 2,553,290.86 | 5,622,244.32 | 3,528,950.35 | 11,704,485.53 | 2,390,354.06 | 2,678,877.74 | 2,674,112.34 | 7,743,344.14 |
| Gastos
Administrativos | 1,245,417.33 | 2,888,697.60 | 1,680,787.23 | 5,814,902.16 | 1,491,721.53 | 1,444,454.35 | 1,764,049.60 | 4,700,225.48 |
| Gastos
Generales | 204,470.82 | 274,904.72 | 407,562.59 | 886,938.13 | 305,179.57 | 618,568.68 | 256,216.30 | 1,179,964.55 |
| Gastos
de Depreciación | 216,847.29 | 220,332.96 | 220,344.26 | 657,524.51 | 221,024.39 | 219,746.04 | 229,218.16 | 669,988.59 |
| Otros
Gastos | 886,555.42 | 2,238,309.04 | 1,220,256.27 | 4,345,120.73 | 372,428.57 | 396,108.67 | 424,628.28 | 1,193,165.52 |
| Utilidad
antes de Provisiones | 8,549,170.42 | 862,392.18 | 3,724,713.70 | 13,136,276.30 | 6,317,292.68 | 6,033,446.96 | 3,698,061.96 | 16,048,801.60 |
| Provisiones
por Cuentas Malas | 0.00 | 0.00 | 5,187,054.72 | 5,187,054.72 | 0.00 | 0.00 | 9,081,793.87 | 9,081,793.87 |
| Utilidad
del Periodo | 8,549,170.42 | 862,392.18 | -1,462,341.02 | 7,949,221.58 | 6,317,292.68 | 6,033,446.96 | -5,383,731.91 | 6,967,007.73 |

*La unidad monetaria es par y equivalentes con el US$ dólar.

Esta es una copia de la versión original, tomada de la publicación mensual de la Superintendencia de Bancos de Panamá.

(sitioweb: http://www.superbancos.gob.pa).

●
ESTADO
DE RESULTADO
BANCO LATINOAMERICANO
DE COMERCIO EXTERIOR, S.A.
ENERO
- AGOSTO 2009
(En
Balboas) *

| Descripcion — Ingresos
Por Intereses | 12,797,315.99 | 11,412,267.60 | 0.00 | 24,209,583.59 | 0.00 | 0.00 | 0.00 | 0.00 | 102,389,036.97 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Préstamos | 10,130,541.34 | 9,172,445.36 | 0.00 | 19,302,986.70 | 0.00 | 0.00 | 0.00 | 0.00 | 81,719,979.82 |
| Depósitos | 104,337.12 | 92,266.80 | 0.00 | 196,603.92 | 0.00 | 0.00 | 0.00 | 0.00 | 958,831.34 |
| Inversiones | 2,562,437.53 | 2,147,555.44 | 0.00 | 4,709,992.97 | 0.00 | 0.00 | 0.00 | 0.00 | 19,710,225.81 |
| Egresos
de Operaciones | 6,117,909.19 | 5,584,758.99 | 0.00 | 11,702,668.18 | 0.00 | 0.00 | 0.00 | 0.00 | 57,401,827.94 |
| Intereses
Pagados | 6,110,602.17 | 5,577,642.46 | 0.00 | 11,688,244.63 | 0.00 | 0.00 | 0.00 | 0.00 | 57,352,108.26 |
| Comisiones | 7,307.02 | 7,116.53 | 0.00 | 14,423.55 | 0.00 | 0.00 | 0.00 | 0.00 | 49,719.68 |
| Ingreso
Neto de Intereses | 6,679,406.80 | 5,827,508.61 | 0.00 | 12,506,915.41 | 0.00 | 0.00 | 0.00 | 0.00 | 44,987,209.03 |
| Otros
Ingresos | 3,166,123.52 | 223,672.97 | 0.00 | 3,389,796.49 | 0.00 | 0.00 | 0.00 | 0.00 | 19,542,410.44 |
| Comisiones | 390,977.23 | 468,966.23 | 0.00 | 859,943.46 | 0.00 | 0.00 | 0.00 | 0.00 | 3,779,007.72 |
| Otros
ingresos | 2,775,146.29 | -245,293.26 | 0.00 | 2,529,853.03 | 0.00 | 0.00 | 0.00 | 0.00 | 15,763,402.72 |
| Ingresos
de Operaciones | 9,845,530.32 | 6,051,181.58 | 0.00 | 15,896,711.90 | 0.00 | 0.00 | 0.00 | 0.00 | 64,529,619.47 |
| Egresos
Generales | 2,263,344.06 | 2,541,005.79 | 0.00 | 4,804,349.85 | 0.00 | 0.00 | 0.00 | 0.00 | 24,252,179.52 |
| Gastos
Administrativos | 1,387,670.05 | 1,547,199.51 | 0.00 | 2,934,869.56 | 0.00 | 0.00 | 0.00 | 0.00 | 13,449,997.20 |
| Gastos
Generales | 191,112.55 | 308,119.62 | 0.00 | 499,232.17 | 0.00 | 0.00 | 0.00 | 0.00 | 2,566,134.85 |
| Gastos
de Depreciación | 206,957.24 | 203,404.59 | 0.00 | 410,361.83 | 0.00 | 0.00 | 0.00 | 0.00 | 1,737,874.93 |
| Otros
Gastos | 477,604.22 | 482,282.07 | 0.00 | 959,886.29 | 0.00 | 0.00 | 0.00 | 0.00 | 6,498,172.54 |
| Utilidad
antes de Provisiones | 7,582,186.26 | 3,510,175.79 | 0.00 | 11,092,362.05 | 0.00 | 0.00 | 0.00 | 0.00 | 40,277,439.95 |
| Provisiones
por Cuentas Malas | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 14,268,848.59 |
| Utilidad
del Periodo | 7,582,186.26 | 3,510,175.79 | 0.00 | 11,092,362.05 | 0.00 | 0.00 | 0.00 | 0.00 | 26,008,591.36 |

*La unidad monetaria es par y equivalentes con el US$ dólar.

Esta es una copia de la versión original, tomada de la publicación mensual de la Superintendencia de Bancos de Panamá.

(sitioweb: http://www.superbancos.gob.pa).

Note: This information are unconsolidated figures and exclude the data for Bladex Asset Management Inc., Bladex Holdings Inc., Clavex S.A., Bladex Offshore Feeder Fund, and Bladex Representacao Ltda.

October 29, 2009

●
BALANCE
SHEETS* DECEMBER 2008 AND JANUARY - AUGUST 2009
(In
Balboas)*

Description	Absolute %	December	January	February	March	April
LIQUID
ASSETS	-345,866,837.26	-38.41	900,408,387.46	717,808,031.28	665,592,478.18	605,053,408.84	714,371,384.83
Local
Deposits in Banks	68,256.14	57.03	119,678.71	266,933.91	166,228.99	130,796.55	112,519.31
Demand	68,256.14	57.03	119,678.71	266,933.91	166,228.99	130,796.55	112,519.31
Time	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Foreign
Deposits in Banks	-345,938,191.87	-38.43	900,280,189.52	717,408,834.01	665,420,617.82	604,911,611.35	714,248,175.75
Demand	-440,838,191.87	-72.83	605,280,189.52	443,408,834.01	299,420,617.82	244,911,611.35	304,248,175.75
Time	94,900,000.00	32.17	295,000,000.00	274,000,000.00	366,000,000.00	360,000,000.00	410,000,000.00
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	3,098.47	36.37	8,519.23	132,263.36	5,631.37	11,000.94	10,689.77
CREDIT
PORTFOLIO	-152,812,120.54	-5.96	2,563,995,557.03	2,625,259,226.06	2,574,391,867.97	2,542,991,544.55	2,467,291,611.82
Local	2,247,092.61	1.53	146,426,161.11	173,845,131.64	162,779,663.97	176,122,935.24	169,884,836.48
Foreign	-119,464,681.04	-4.83	2,472,217,297.78	2,506,098,077.87	2,466,369,654.50	2,447,443,976.64	2,377,980,871.89
Less
Allowance	35,594,532.11	65.13	54,647,901.86	54,683,983.45	54,757,450.50	80,575,367.33	80,574,096.55
Local	1,413,232.96	71.49	1,976,899.07	1,976,899.07	1,976,899.07	4,414,252.71	4,414,252.71
Foreign	34,181,299.15	64.90	52,671,002.79	52,707,084.38	52,780,551.43	76,161,114.62	76,159,843.84
INVESTMENT
SECURITIES	-54,030,473.37	-6.85	788,240,705.29	765,500,339.63	734,731,700.59	856,516,453.83	865,946,982.61
Local	-41,918,314.24	-49.07	85,418,314.23	86,488,314.23	85,982,128.43	90,117,500.00	92,097,500.00
Foreign	-12,112,159.13	-1.72	702,822,391.06	679,012,025.40	648,749,572.16	766,398,953.83	773,849,482.61
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	-14,742,445.10	-21.01	70,168,089.80	61,211,751.15	62,248,402.29	53,503,328.21	56,411,130.59
Local	-6,227,369.93	-49.83	12,497,285.64	7,648,698.17	9,131,122.10	6,008,575.50	6,775,089.32
Foreign	-8,515,075.17	-14.76	57,670,804.16	53,563,052.98	53,117,280.19	47,494,752.71	49,636,041.27
TOTAL
ASSETS	-567,451,876.27	-13.13	4,322,812,739.58	4,169,779,348.12	4,036,964,449.03	4,058,064,735.43	4,104,021,109.85
DEPOSITS	39,308,491.78	3.36	1,169,705,848.32	1,194,733,108.43	1,217,741,248.70	1,216,766,442.16	1,147,397,707.70
Local	36,005,039.05	51.97	69,284,763.22	71,361,388.44	93,151,832.86	83,715,903.77	88,792,169.93
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Customers	-10,000,000.00	-100.00	10,000,000.00	0.00	0.00	0.00	0.00
Demand	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Time	-10,000,000.00	-100.00	10,000,000.00	0.00	0.00	0.00	0.00
Savings	0.00	0.00	0.00	0.00	0.00	0.00	0.00
From
Banks	46,005,039.05	77.60	59,284,763.22	71,361,388.44	93,151,832.86	83,715,903.77	88,792,169.93
Demand	-1,669,875.89	-85.65	1,949,582.22	1,811,078.40	1,998,473.25	256,698.83	300,735.28
Time	47,674,914.94	83.15	57,335,181.00	69,550,310.04	91,153,359.61	83,459,204.94	88,491,434.65
Foreign	3,303,452.73	0.30	1,100,421,085.10	1,123,371,719.99	1,124,589,415.84	1,133,050,538.39	1,058,605,537.77
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Customers	-501,225.35	-8.30	6,040,084.86	2,039,059.60	2,082,474.99	5,319,493.77	28,779,906.58
Demand	3,276,554.95	213.44	1,535,090.42	1,534,684.60	1,578,099.99	1,815,118.77	3,779,906.58
Time	-3,777,780.30	-83.86	4,504,994.44	504,375.00	504,375.00	3,504,375.00	25,000,000.00
Savings	0.00	0.00	0.00	0.00	0.00	0.00	0.00
From
Banks	3,804,678.08	0.35	1,094,381,000.24	1,121,332,660.39	1,122,506,940.85	1,127,731,044.62	1,029,825,631.19
Demand	-38,954,940.13	-35.35	110,194,972.25	78,005,924.10	91,304,980.79	53,766,988.66	44,229,767.30
Time	42,759,618.21	4.34	984,186,027.99	1,043,326,736.29	1,031,201,960.06	1,073,964,055.96	985,595,863.89
BORROWINGS	-604,300,119.85	-24.85	2,432,030,377.24	2,229,666,397.91	2,104,626,539.11	2,167,251,487.27	2,260,963,042.20
Local	4,900,000.00	24.38	20,100,000.00	16,900,000.00	11,800,000.00	0.00	0.00
Foreign	-609,200,119.85	-25.26	2,411,930,377.24	2,212,766,397.91	2,092,826,539.11	2,167,251,487.27	2,260,963,042.20
OTHER
LIABILITIES	-74,926,734.06	-40.26	186,090,509.36	185,549,413.63	157,691,719.82	121,266,171.66	117,074,330.21
Local	-10,854,200.72	-74.33	14,602,722.51	14,526,998.13	3,523,167.99	8,040,512.59	8,556,100.60
Foreign	-64,072,533.34	-37.36	171,487,786.85	171,022,415.50	154,168,551.83	113,225,659.07	108,518,229.61
STOCKHOLDERS´
EQUITY	72,466,486.04	13.55	534,986,004.71	559,830,428.20	556,904,941.40	552,780,634.19	578,586,029.03
Capital	1,847,787.76	0.65	282,794,414.74	282,906,856.00	283,012,670.14	283,151,067.79	283,285,001.00
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	2,222,560.11	-37.26	-5,964,753.66	-4,633,080.66	-3,334,858.66	-44,198,634.92	-1,034,258.05
Retained
Earnings	26,876,546.94	14.05	191,275,312.05	229,096,975.05	229,096,975.05	223,633,661.58	223,633,606.98
Net
Income	-11,813,071.68	-31.23	37,821,663.04	8,549,170.42	9,411,562.60	7,949,221.38	14,266,514.05
Gain
or Loss in Securities available for sale	53,332,662.91	-80.62	-66,150,785.13	-51,299,646.28	-56,491,561.40	-12,964,835.31	-36,774,988.62
Subordinated
Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00
LIABILITIES
AND STOCKHOLDER'S EQUITY	-567,451,876.09	-13.13	4,322,812,739.63	4,169,779,348.17	4,036,964,449.03	4,058,064,735.28	4,104,021,109.14

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

This is a translation from Spanish original version, taken from the monthly publication of the Superintendency of Banks of Panama

(website: http://www.superbancos.gob.pa).

Note: This information are unconsolidated figures and exclude the data for Bladex Asset Management Inc., Bladex Holdings Inc., Clavex S.A., Bladex Offshore Feeder Fund, and Bladex Representacao Ltda.

October 29, 2009

●
BALANCE
SHEETS* DECEMBER 2008 AND JANUARY - AUGUST 2009
(In
Balboas)*

Description	2009 — May	June	July	August	September	October	November	December
LIQUID
ASSETS	598,888,072.80	484,519,897.02	519,272,552.19	554,541,550.20	0.00	0.00	0.00	0.00
Local
Deposits in Banks	147,954.60	101,817.74	246,125.36	187,934.85	0.00	0.00	0.00	0.00
Demand	147,954.60	101,817.74	246,125.36	187,934.85	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	598,731,847.10	484,410,056.48	519,015,601.76	554,341,997.65	0.00	0.00	0.00	0.00
Demand	148,731,847.10	79,410,056.48	167,315,601.76	164,441,997.65	0.00	0.00	0.00	0.00
Time	450,000,000.00	405,000,000.00	351,700,000.00	389,900,000.00	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	8,271.10	8,022.80	10,825.07	11,617.70	0.00	0.00	0.00	0.00
CREDIT
PORTFOLIO	2,437,789,432.53	2,591,388,011.59	2,455,882,697.75	2,411,183,436.49	0.00	0.00	0.00	0.00
Local	156,515,940.91	163,152,197.62	164,110,511.67	148,673,253.72	0.00	0.00	0.00	0.00
Foreign	2,361,852,947.87	2,518,480,397.64	2,382,016,769.75	2,352,752,616.74	0.00	0.00	0.00	0.00
Less
Allowance	80,579,456.25	90,244,583.67	90,244,583.67	90,242,433.97	0.00	0.00	0.00	0.00
Local	4,414,252.71	3,390,132.03	3,390,132.03	3,390,132.03	0.00	0.00	0.00	0.00
Foreign	76,165,203.54	86,854,451.64	86,854,451.64	86,852,301.94	0.00	0.00	0.00	0.00
INVESTMENT
SECURITIES	877,173,391.04	879,386,953.53	880,612,999.70	734,210,231.92	0.00	0.00	0.00	0.00
Local	93,545,399.49	94,004,099.83	94,465,600.00	43,499,999.99	0.00	0.00	0.00	0.00
Foreign	783,627,991.55	785,382,853.70	786,147,399.70	690,710,231.93	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	56,851,332.30	56,457,781.60	52,504,623.92	55,425,644.70	0.00	0.00	0.00	0.00
Local	6,840,558.32	6,170,141.54	6,817,446.71	6,269,915.71	0.00	0.00	0.00	0.00
Foreign	50,010,773.98	50,287,640.06	45,687,177.21	49,155,728.99	0.00	0.00	0.00	0.00
TOTAL
ASSETS	3,970,702,228.67	4,011,752,643.74	3,908,272,873.56	3,755,360,863.31	0.00	0.00	0.00	0.00
DEPOSITS	1,120,018,913.25	1,261,055,899.46	1,251,135,039.43	1,209,014,340.10	0.00	0.00	0.00	0.00
Local	46,833,464.29	107,842,679.09	99,689,243.09	105,289,802.27	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	46,833,464.29	107,842,679.09	99,689,243.09	105,289,802.27	0.00	0.00	0.00	0.00
Demand	292,102.36	295,670.56	242,837.44	279,706.33	0.00	0.00	0.00	0.00
Time	46,541,361.93	107,547,008.53	99,446,405.65	105,010,095.94	0.00	0.00	0.00	0.00
Foreign	1,073,185,448.96	1,153,213,220.37	1,151,445,796.34	1,103,724,537.83	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	21,625,418.87	12,133,554.61	11,626,243.77	5,538,859.51	0.00	0.00	0.00	0.00
Demand	1,576,418.87	2,133,554.61	1,626,243.77	4,811,645.37	0.00	0.00	0.00	0.00
Time	20,049,000.00	10,000,000.00	10,000,000.00	727,214.14	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	1,051,560,030.09	1,141,079,665.76	1,139,819,552.57	1,098,185,678.32	0.00	0.00	0.00	0.00
Demand	66,499,310.11	154,233,381.53	53,911,580.66	71,240,032.12	0.00	0.00	0.00	0.00
Time	985,060,719.98	986,846,284.23	1,085,907,971.91	1,026,945,646.20	0.00	0.00	0.00	0.00
BORROWINGS	2,147,349,144.52	2,048,985,848.28	1,940,977,247.57	1,827,730,257.39	0.00	0.00	0.00	0.00
Local	0.00	25,000,000.00	25,000,000.00	25,000,000.00	0.00	0.00	0.00	0.00
Foreign	2,147,349,144.52	2,023,985,848.28	1,915,977,247.57	1,802,730,257.39	0.00	0.00	0.00	0.00
OTHER
LIABILITIES	107,326,591.64	110,329,704.16	109,138,591.82	111,163,775.30	0.00	0.00	0.00	0.00
Local	3,346,440.41	8,882,402.20	5,463,759.62	3,748,521.79	0.00	0.00	0.00	0.00
Foreign	103,980,151.23	101,447,301.96	103,674,832.20	107,415,253.51	0.00	0.00	0.00	0.00
STOCKHOLDERS´
EQUITY	596,007,579.36	591,381,191.85	607,021,995.14	607,452,490.75	0.00	0.00	0.00	0.00
Capital	284,231,828.41	284,365,761.62	284,498,708.29	284,642,202.50	0.00	0.00	0.00	0.00
Capital
Reserves	95,210,153.67	95,210,153.67	95,210,153.67	95,210,153.67	0.00	0.00	0.00	0.00
Other
Reserves	-2,451,423.40	-2,726,992.69	-2,773,185.29	-3,742,193.55	0.00	0.00	0.00	0.00
Retained
Earnings	223,633,606.98	218,157,901.41	218,151,858.99	218,151,858.99	0.00	0.00	0.00	0.00
Net
Income	20,299,961.01	14,916,229.31	22,498,415.57	26,008,591.36	0.00	0.00	0.00	0.00
Gain
or Loss in Securities available for sale	-24,916,547.31	-18,541,861.47	-10,563,956.09	-12,818,122.22	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	3,970,702,228.77	4,011,752,643.75	3,908,272,873.96	3,755,360,863.54	0.00	0.00	0.00	0.00

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

This is a translation from Spanish original version, taken from the monthly publication of the Superintendency of Banks of Panama

(website: http://www.superbancos.gob.pa).

Note: This information are unconsolidated figures and exclude the data for Bladex Asset Management Inc., Bladex Holdings Inc., Clavex S.A., Bladex Offshore Feeder Fund, and Bladex Representacao Ltda.

October 29, 2009

●
BANCO LATINOAMERICANO
DE COMERCIO EXTERIOR, S.A.
JANUARY
- AUGUST 2009
(In
Balboas)*

| Description — Interest
Income | 13,900,446.36 | 12,497,312.76 | 13,830,744.79 | 40,228,503.91 | 12,944,591.06 | 12,805,093.14 | 12,201,265.27 | 37,950,949.47 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Loans | 11,450,587.66 | 10,265,841.03 | 10,878,984.52 | 32,595,413.21 | 10,229,222.42 | 9,983,752.91 | 9,608,604.58 | 29,821,579.91 |
| Deposits | 108,729.95 | 115,900.20 | 142,229.63 | 366,859.78 | 136,613.33 | 135,896.00 | 122,858.31 | 395,367.64 |
| Investments | 2,341,128.75 | 2,115,571.53 | 2,809,530.64 | 7,266,230.92 | 2,578,755.31 | 2,685,444.23 | 2,469,802.38 | 7,734,001.92 |
| Interest
Expense | 9,146,492.08 | 8,200,665.93 | 7,401,800.67 | 24,748,958.68 | 7,228,525.28 | 7,259,973.74 | 6,461,702.06 | 20,950,201.08 |
| Interest | 9,143,542.09 | 8,195,792.71 | 7,393,271.94 | 24,732,606.74 | 7,220,736.76 | 7,255,742.31 | 6,454,777.82 | 20,931,256.89 |
| Commissions | 2,949.99 | 4,873.22 | 8,528.73 | 16,351.94 | 7,788.52 | 4,231.43 | 6,924.24 | 18,944.19 |
| Net
Interest Income | 4,753,954.28 | 4,296,646.83 | 6,428,944.12 | 15,479,545.23 | 5,716,065.78 | 5,545,119.40 | 5,739,563.21 | 17,000,748.39 |
| Other
Income | 6,348,507.00 | 2,187,989.67 | 824,719.93 | 9,361,216.60 | 2,991,580.96 | 3,167,205.30 | 632,611.09 | 6,791,397.35 |
| Commissions | 817,932.36 | 806,833.89 | 584,106.38 | 2,208,872.63 | 265,036.18 | 244,653.74 | 200,501.71 | 710,191.63 |
| Other
Income | 5,530,574.64 | 1,381,155.78 | 240,613.55 | 7,152,343.97 | 2,726,544.78 | 2,922,551.56 | 432,109.38 | 6,081,205.72 |
| Operating
Income | 11,102,461.28 | 6,484,636.50 | 7,253,664.05 | 24,840,761.83 | 8,707,646.74 | 8,712,324.70 | 6,372,174.30 | 23,792,145.74 |
| Operating
Expenses | 2,553,290.86 | 5,622,244.32 | 3,528,950.35 | 11,704,485.53 | 2,390,354.06 | 2,678,877.74 | 2,674,112.34 | 7,743,344.14 |
| Administrative
expenses | 1,245,417.33 | 2,888,697.60 | 1,680,787.23 | 5,814,902.16 | 1,491,721.53 | 1,444,454.35 | 1,764,049.60 | 4,700,225.48 |
| General
expenses | 204,470.82 | 274,904.72 | 407,562.59 | 886,938.13 | 305,179.57 | 618,568.68 | 256,216.30 | 1,179,964.55 |
| Depreciation | 216,847.29 | 220,332.96 | 220,344.26 | 657,524.51 | 221,024.39 | 219,746.04 | 229,218.16 | 669,988.59 |
| Other
expenses | 886,555.42 | 2,238,309.04 | 1,220,256.27 | 4,345,120.73 | 372,428.57 | 396,108.67 | 424,628.28 | 1,193,165.52 |
| Net
Income before provision for loan losses | 8,549,170.42 | 862,392.18 | 3,724,713.70 | 13,136,276.30 | 6,317,292.68 | 6,033,446.96 | 3,698,061.96 | 16,048,801.60 |
| Provision
for loan losses | 0.00 | 0.00 | 5,187,054.72 | 5,187,054.72 | 0.00 | 0.00 | 9,081,793.87 | 9,081,793.87 |
| Net
Income | 8,549,170.42 | 862,392.18 | -1,462,341.02 | 7,949,221.58 | 6,317,292.68 | 6,033,446.96 | -5,383,731.91 | 6,967,007.73 |

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

This is a translation from Spanish original version, taken from the monthly publication of the Superintendency of Banks of Panama

(website: http://www.superbancos.gob.pa).

Note: This information are unconsolidated figures and exclude the data for Bladex Asset Management Inc., Bladex Holdings Inc., Clavex S.A., Bladex Offshore Feeder Fund, and Bladex Representacao Ltda.

October 29, 2009

●
BANCO LATINOAMERICANO
DE COMERCIO EXTERIOR, S.A.
JANUARY
- AUGUST 2009
(In
Balboas)*

| Description — Interest
Income | 12,797,315.99 | 11,412,267.60 | 0.00 | 24,209,583.59 | 0.00 | 0.00 | 0.00 | 0.00 | 102,389,036.97 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Loans | 10,130,541.34 | 9,172,445.36 | 0.00 | 19,302,986.70 | 0.00 | 0.00 | 0.00 | 0.00 | 81,719,979.82 |
| Deposits | 104,337.12 | 92,266.80 | 0.00 | 196,603.92 | 0.00 | 0.00 | 0.00 | 0.00 | 958,831.34 |
| Investments | 2,562,437.53 | 2,147,555.44 | 0.00 | 4,709,992.97 | 0.00 | 0.00 | 0.00 | 0.00 | 19,710,225.81 |
| Interest
Expense | 6,117,909.19 | 5,584,758.99 | 0.00 | 11,702,668.18 | 0.00 | 0.00 | 0.00 | 0.00 | 57,401,827.94 |
| Interest | 6,110,602.17 | 5,577,642.46 | 0.00 | 11,688,244.63 | 0.00 | 0.00 | 0.00 | 0.00 | 57,352,108.26 |
| Commissions | 7,307.02 | 7,116.53 | 0.00 | 14,423.55 | 0.00 | 0.00 | 0.00 | 0.00 | 49,719.68 |
| Net
Interest Income | 6,679,406.80 | 5,827,508.61 | 0.00 | 12,506,915.41 | 0.00 | 0.00 | 0.00 | 0.00 | 44,987,209.03 |
| Other
Income | 3,166,123.52 | 223,672.97 | 0.00 | 3,389,796.49 | 0.00 | 0.00 | 0.00 | 0.00 | 19,542,410.44 |
| Commissions | 390,977.23 | 468,966.23 | 0.00 | 859,943.46 | 0.00 | 0.00 | 0.00 | 0.00 | 3,779,007.72 |
| Other
Income | 2,775,146.29 | -245,293.26 | 0.00 | 2,529,853.03 | 0.00 | 0.00 | 0.00 | 0.00 | 15,763,402.72 |
| Operating
Income | 9,845,530.32 | 6,051,181.58 | 0.00 | 15,896,711.90 | 0.00 | 0.00 | 0.00 | 0.00 | 64,529,619.47 |
| Operating
Expenses | 2,263,344.06 | 2,541,005.79 | 0.00 | 4,804,349.85 | 0.00 | 0.00 | 0.00 | 0.00 | 24,252,179.52 |
| Administrative
expenses | 1,387,670.05 | 1,547,199.51 | 0.00 | 2,934,869.56 | 0.00 | 0.00 | 0.00 | 0.00 | 13,449,997.20 |
| General
expenses | 191,112.55 | 308,119.62 | 0.00 | 499,232.17 | 0.00 | 0.00 | 0.00 | 0.00 | 2,566,134.85 |
| Depreciation | 206,957.24 | 203,404.59 | 0.00 | 410,361.83 | 0.00 | 0.00 | 0.00 | 0.00 | 1,737,874.93 |
| Other
expenses | 477,604.22 | 482,282.07 | 0.00 | 959,886.29 | 0.00 | 0.00 | 0.00 | 0.00 | 6,498,172.54 |
| Net
Income before provision for loan losses | 7,582,186.26 | 3,510,175.79 | 0.00 | 11,092,362.05 | 0.00 | 0.00 | 0.00 | 0.00 | 40,277,439.95 |
| Provision
for loan losses | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 14,268,848.59 |
| Net
Income | 7,582,186.26 | 3,510,175.79 | 0.00 | 11,092,362.05 | 0.00 | 0.00 | 0.00 | 0.00 | 26,008,591.36 |

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

This is a translation from Spanish original version, taken from the monthly publication of the Superintendency of Banks of Panama

(website: http://www.superbancos.gob.pa).

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