FOREIGN TRADE BANK OF LATIN AMERICA, INC.

Foreign Filer Report • Jan 29, 2010

6-K 1 v172697_6k.htm Licensed to: Vintage Filings Document Created using EDGARizer 4.0.6.4 Copyright 1995 - 2008 EDGARfilings, Ltd., an IEC company. All rights reserved

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 January, 2010

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.

January 29, 2010

| 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 enero de 2010

BANCO LATINOAMERICANO DE COMERCIO EXTERIOR, S.A. BALANCE DE SITUACIÓN DE DICIEMBRE 2008 Y ENERO - NOVIEMBRE 2009 (En Balboas) *

Descripción	Absoluta	%	2008 — Diciembre	2009 — Enero	Febrero	Marzo	Abril
ACTIVOS
LIQUIDOS	-534,794,246.22	-59.39	900,408,387.46	717,808,031.28	665,592,478.18	605,053,408.84	714,371,384.83
Depositos
Locales en Bancos	112,619.58	94.10	119,678.71	266,933.91	166,228.99	130,796.55	112,519.31
A la
Vista	112,619.58	94.10	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	-534,916,672.91	-59.42	900,280,189.52	717,408,834.01	665,420,617.82	604,911,611.35	714,248,175.75
A la
Vista	-454,916,672.91	-75.16	605,280,189.52	443,408,834.01	299,420,617.82	244,911,611.35	304,248,175.75
A
Plazo	-80,000,000.00	-27.12	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	9,807.11	115.12	8,519.23	132,263.36	5,631.37	11,000.94	10,689.77
CARTERA
CREDITICIA	-10,695,935.33	-0.42	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	-73,824,743.25	-50.42	146,426,161.11	173,845,131.64	162,779,663.97	176,122,935.24	169,884,836.48
Extranjero	98,340,611.71	3.98	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	35,211,803.79	64.43	54,647,901.86	54,683,983.45	54,757,450.50	80,575,367.33	80,574,096.55
Locales	-330,113.63	-16.70	1,976,899.07	1,976,899.07	1,976,899.07	4,414,252.71	4,414,252.71
Extranjero	35,541,917.42	67.48	52,671,002.79	52,707,084.38	52,780,551.43	76,161,114.62	76,159,843.84
INVERSIONES
EN VALORES	-171,210,881.40	-21.72	788,240,705.29	765,500,339.63	734,731,700.59	856,516,453.83	865,946,982.61
Locales	-41,698,314.24	-48.82	85,418,314.23	86,488,314.23	85,982,128.43	90,117,500.00	92,097,500.00
Extranjero	-129,512,567.16	-18.43	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	-21,616,490.43	-30.81	70,168,089.80	61,211,751.15	62,248,402.29	53,503,328.21	56,411,130.59
Locales	-6,902,235.26	-55.23	12,497,285.64	7,648,698.17	9,131,122.10	6,008,575.50	6,775,089.32
Extranjero	-14,714,255.17	-25.51	57,670,804.16	53,563,052.98	53,117,280.19	47,494,752.71	49,636,041.27
TOTAL
DE ACTIVOS	-738,317,553.38	-17.08	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	86,946,213.15	7.43	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	43,509,550.98	62.80	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	53,509,550.98	90.26	59,284,763.22	71,361,388.44	93,151,832.86	83,715,903.77	88,792,169.93
A la
Vista	-1,646,669.89	-84.46	1,949,582.22	1,811,078.40	1,998,473.25	256,698.83	300,735.28
A
Plazo	55,156,220.87	96.20	57,335,181.00	69,550,310.04	91,153,359.61	83,459,204.94	88,491,434.65
Extranjero	43,436,662.17	3.95	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	12,273,175.22	203.20	6,040,084.86	2,039,059.60	2,082,474.99	5,319,493.77	28,779,906.58
A la
Vista	1,050,430.97	68.43	1,535,090.42	1,534,684.60	1,578,099.99	1,815,118.77	3,779,906.58
A
Plazo	11,222,744.25	249.12	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	31,163,486.95	2.85	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	-74,458,455.24	-67.57	110,194,972.25	78,005,924.10	91,304,980.79	53,766,988.66	44,229,767.30
A
Plazo	105,621,942.19	10.73	984,186,027.99	1,043,326,736.29	1,031,201,960.06	1,073,964,055.96	985,595,863.89
OBLIGACIONES	-827,940,664.97	-34.04	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	-20,100,000.00	-100.00	20,100,000.00	16,900,000.00	11,800,000.00	0.00	0.00
Extranjero	-807,840,664.97	-33.49	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	-70,468,302.04	-37.87	186,090,509.36	185,549,413.63	157,691,719.82	121,266,171.66	117,074,330.21
Locales	-4,249,472.02	-29.10	14,602,722.51	14,526,998.13	3,523,167.99	8,040,512.59	8,556,100.60
Extranjero	-66,218,830.02	-38.61	171,487,786.85	171,022,415.50	154,168,551.83	113,225,659.07	108,518,229.61
PATRIMONIO	73,145,200.49	13.67	534,986,004.71	559,830,428.20	556,904,941.40	552,780,634.19	578,586,029.03
Capital	2,248,428.88	0.80	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	2,204,710.56	-36.96	-5,964,753.66	-4,633,080.66	-3,334,858.66	-44,198,634.92	-1,034,258.05
Utilidad
de Periodos Anteriores	15,912,959.16	8.32	191,275,312.05	229,096,975.05	229,096,975.05	223,633,661.58	223,633,606.98
Utilidad
de Periodo	-4,289,687.38	-11.34	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	57,068,789.27	-86.27	-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	-738,317,553.37	-17.08	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).

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 enero de 2010

BANCO LATINOAMERICANO DE COMERCIO EXTERIOR, S.A. BALANCE DE SITUACIÓN DE DICIEMBRE 2008 Y ENERO - NOVIEMBRE 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	460,262,199.60	413,980,923.35	365,614,141.24	0.00
Depositos
Locales en Bancos	147,954.60	101,817.74	246,125.36	187,934.85	183,714.66	185,402.13	232,298.29	0.00
A la
Vista	147,954.60	101,817.74	246,125.36	187,934.85	183,714.66	185,402.13	232,298.29	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	460,067,917.01	413,784,925.91	365,363,516.61	0.00
A la
Vista	148,731,847.10	79,410,056.48	167,315,601.76	164,441,997.65	169,267,917.01	101,984,925.91	150,363,516.61	0.00
A
Plazo	450,000,000.00	405,000,000.00	351,700,000.00	389,900,000.00	290,800,000.00	311,800,000.00	215,000,000.00	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	10,567.93	10,595.31	18,326.34	0.00
CARTERA
CREDITICIA	2,437,789,432.53	2,591,388,011.59	2,455,882,697.75	2,411,183,436.49	2,517,886,713.85	2,613,520,933.25	2,553,299,621.70	0.00
Locales	156,515,940.91	163,152,197.62	164,110,511.67	148,673,253.72	79,298,469.76	94,183,020.14	72,601,417.86	0.00
Extranjero	2,361,852,947.87	2,518,480,397.64	2,382,016,769.75	2,352,752,616.74	2,528,468,536.69	2,609,196,263.53	2,570,557,909.49	0.00
Menos
Provisiones	80,579,456.25	90,244,583.67	90,244,583.67	90,242,433.97	89,880,292.60	89,858,350.42	89,859,705.65	0.00
Locales	4,414,252.71	3,390,132.03	3,390,132.03	3,390,132.03	1,646,785.44	1,646,785.44	1,646,785.44	0.00
Extranjero	76,165,203.54	86,854,451.64	86,854,451.64	86,852,301.94	88,233,507.16	88,211,564.98	88,212,920.21	0.00
INVERSIONES
EN VALORES	877,173,391.04	879,386,953.53	880,612,999.70	734,210,231.92	618,034,784.23	611,364,835.78	617,029,823.89	0.00
Locales	93,545,399.49	94,004,099.83	94,465,600.00	43,499,999.99	44,085,999.99	43,355,999.99	43,719,999.99	0.00
Extranjero	783,627,991.55	785,382,853.70	786,147,399.70	690,710,231.93	573,948,784.24	568,008,835.79	573,309,823.90	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	50,137,469.59	49,739,550.36	48,551,599.37	0.00
Locales	6,840,558.32	6,170,141.54	6,817,446.71	6,269,915.71	4,961,806.42	5,275,106.46	5,595,050.38	0.00
Extranjero	50,010,773.98	50,287,640.06	45,687,177.21	49,155,728.99	45,175,663.17	44,464,443.90	42,956,548.99	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	3,646,321,167.27	3,688,606,242.74	3,584,495,186.20	0.00
DEPOSITOS	1,120,018,913.25	1,261,055,899.46	1,251,135,039.43	1,209,014,340.10	1,222,226,950.57	1,278,322,021.64	1,256,652,061.47	0.00
Locales	46,833,464.29	107,842,679.09	99,689,243.09	105,289,802.27	97,794,487.38	103,777,861.30	112,794,314.20	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	97,794,487.38	103,777,861.30	112,794,314.20	0.00
A la
Vista	292,102.36	295,670.56	242,837.44	279,706.33	322,766.33	293,741.33	302,912.33	0.00
A
Plazo	46,541,361.93	107,547,008.53	99,446,405.65	105,010,095.94	97,471,721.05	103,484,119.97	112,491,401.87	0.00
Extranjero	1,073,185,448.96	1,153,213,220.37	1,151,445,796.34	1,103,724,537.83	1,124,432,463.19	1,174,544,160.34	1,143,857,747.27	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	2,979,687.20	18,000,452.19	18,313,260.08	0.00
A la
Vista	1,576,418.87	2,133,554.61	1,626,243.77	4,811,645.37	2,356,167.36	2,272,873.45	2,585,521.39	0.00
A
Plazo	20,049,000.00	10,000,000.00	10,000,000.00	727,214.14	623,519.84	15,727,578.74	15,727,738.69	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	1,121,452,775.99	1,156,543,708.15	1,125,544,487.19	0.00
A la
Vista	66,499,310.11	154,233,381.53	53,911,580.66	71,240,032.12	33,996,012.17	15,960,284.17	35,736,517.01	0.00
A
Plazo	985,060,719.98	986,846,284.23	1,085,907,971.91	1,026,945,646.20	1,087,456,763.82	1,140,583,423.98	1,089,807,970.18	0.00
OBLIGACIONES	2,147,349,144.52	2,048,985,848.28	1,940,977,247.57	1,827,730,257.39	1,692,735,399.72	1,685,947,186.28	1,604,089,712.27	0.00
Locales	0.00	25,000,000.00	25,000,000.00	25,000,000.00	25,000,000.00	25,000,000.00	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	1,667,735,399.72	1,660,947,186.28	1,604,089,712.27	0.00
OTROS
PASIVOS	107,326,591.64	110,329,704.16	109,138,591.82	111,163,775.30	120,087,069.84	114,655,855.24	115,622,207.32	0.00
Locales	3,346,440.41	8,882,402.20	5,463,759.62	3,748,521.79	14,310,268.71	6,081,339.13	10,353,250.49	0.00
Extranjero	103,980,151.23	101,447,301.96	103,674,832.20	107,415,253.51	105,776,801.13	108,574,516.11	105,268,956.83	0.00
PATRIMONIO	596,007,579.36	591,381,191.85	607,021,995.14	607,452,490.75	611,271,747.70	609,681,179.93	608,131,205.20	0.00
Capital	284,231,828.41	284,365,761.62	284,498,708.29	284,642,202.50	284,781,067.87	284,912,267.94	285,042,843.62	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	95,210,153.67	95,210,153.67	0.00
Otras
Reservas	-2,451,423.40	-2,726,992.69	-2,773,185.29	-3,742,193.55	-3,544,047.99	-3,069,662.39	-3,760,043.10	0.00
Utilidad
de Periodos Anteriores	223,633,606.98	218,157,901.41	218,151,858.99	218,151,858.99	212,670,113.70	212,670,113.70	207,188,271.21	0.00
Utilidad
de Periodo	20,299,961.01	14,916,229.31	22,498,415.57	26,008,591.36	27,481,541.94	31,141,539.64	33,531,975.66	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	-5,327,081.49	-11,183,232.63	-9,081,995.86	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	3,646,321,167.83	3,688,606,243.09	3,584,495,186.26	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).

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 enero de 2010

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

| Descripcion | Enero | Febrero | Marzo | Trimestre
I | Abril | Mayo | Junio | Trimestre
II |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 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).

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 enero de 2010

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

| Descripcion | Julio | Agosto | Septiembre | Trimestre
III | Octubre | Noviembre | Diciembre | Trimestre
IV | Acumulado Anual |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Ingresos
Por Intereses | 12,797,315.99 | 11,412,267.60 | 9,913,516.33 | 34,123,099.92 | 10,218,655.86 | 8,846,050.45 | 0.00 | 19,064,706.31 | 131,367,259.61 |
| Préstamos | 10,130,541.34 | 9,172,445.36 | 8,211,033.07 | 27,514,019.77 | 8,985,157.08 | 7,758,788.85 | 0.00 | 16,743,945.93 | 106,674,958.82 |
| Depósitos | 104,337.12 | 92,266.80 | 94,380.04 | 290,983.96 | 74,188.02 | 61,091.74 | 0.00 | 135,279.76 | 1,188,491.14 |
| Inversiones | 2,562,437.53 | 2,147,555.44 | 1,608,103.22 | 6,318,096.19 | 1,159,310.76 | 1,026,169.86 | 0.00 | 2,185,480.62 | 23,503,809.65 |
| Egresos
de Operaciones | 6,117,909.19 | 5,584,758.99 | 5,050,402.79 | 16,753,070.97 | 4,590,893.13 | 3,987,004.16 | 0.00 | 8,577,897.29 | 71,030,128.02 |
| Intereses
Pagados | 6,110,602.17 | 5,577,642.46 | 5,043,072.12 | 16,731,316.75 | 4,580,294.36 | 3,979,944.49 | 0.00 | 8,560,238.85 | 70,955,419.23 |
| Comisiones | 7,307.02 | 7,116.53 | 7,330.67 | 21,754.22 | 10,598.77 | 7,059.67 | 0.00 | 17,658.44 | 74,708.79 |
| Ingreso
Neto de Intereses | 6,679,406.80 | 5,827,508.61 | 4,863,113.54 | 17,370,028.95 | 5,627,762.73 | 4,859,046.29 | 0.00 | 10,486,809.02 | 60,337,131.59 |
| Otros
Ingresos | 3,166,123.52 | 223,672.97 | 908,429.05 | 4,298,225.54 | 1,119,439.91 | 494,333.57 | 0.00 | 1,613,773.48 | 22,064,612.97 |
| Comisiones | 390,977.23 | 468,966.23 | 636,397.01 | 1,496,340.47 | 647,699.44 | 601,167.07 | 0.00 | 1,248,866.51 | 5,664,271.24 |
| Otros
ingresos | 2,775,146.29 | -245,293.26 | 272,032.04 | 2,801,885.07 | 471,740.47 | -106,833.50 | 0.00 | 364,906.97 | 16,400,341.73 |
| Ingresos
de Operaciones | 9,845,530.32 | 6,051,181.58 | 5,771,542.59 | 21,668,254.49 | 6,747,202.64 | 5,353,379.86 | 0.00 | 12,100,582.50 | 82,401,744.56 |
| Egresos
Generales | 2,263,344.06 | 2,541,005.79 | 3,129,446.35 | 7,933,796.20 | 3,087,204.94 | 2,962,943.85 | 0.00 | 6,050,148.79 | 33,431,774.66 |
| Gastos
Administrativos | 1,387,670.05 | 1,547,199.51 | 1,448,113.79 | 4,382,983.35 | 1,505,909.72 | 1,508,630.41 | 0.00 | 3,014,540.13 | 17,912,651.12 |
| Gastos
Generales | 191,112.55 | 308,119.62 | 277,018.83 | 776,251.00 | 399,991.68 | 369,588.26 | 0.00 | 769,579.94 | 3,612,733.62 |
| Gastos
de Depreciación | 206,957.24 | 203,404.59 | 204,243.35 | 614,605.18 | 212,657.95 | 208,120.03 | 0.00 | 420,777.98 | 2,362,896.26 |
| Otros
Gastos | 477,604.22 | 482,282.07 | 1,200,070.38 | 2,159,956.67 | 968,645.59 | 876,605.15 | 0.00 | 1,845,250.74 | 9,543,493.66 |
| Utilidad
antes de Provisiones | 7,582,186.26 | 3,510,175.79 | 2,642,096.24 | 13,734,458.29 | 3,659,997.70 | 2,390,436.01 | 0.00 | 6,050,433.71 | 48,969,969.90 |
| Provisiones
por Cuentas Malas | 0.00 | 0.00 | 1,169,145.66 | 1,169,145.66 | 0.00 | 0.00 | 0.00 | 0.00 | 15,437,994.25 |
| Utilidad
del Periodo | 7,582,186.26 | 3,510,175.79 | 1,472,950.58 | 12,565,312.63 | 3,659,997.70 | 2,390,436.01 | 0.00 | 6,050,433.71 | 33,531,975.65 |

*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.

BANCO LATINOAMERICANO DE COMERCIO EXTERIOR, S.A. BALANCE SHEETS DECEMBER 2008 AND JANUARY - NOVEMBER 2009 (In Balboas) January 29, 2010

Description	Absolute	%	2008 — December	2009 — January	February	March	April	May
LIQUID
ASSETS	-534,794,246.22	-59.39	900,408,387.46	717,808,031.28	665,592,478.18	605,053,408.84	714,371,384.83	598,888,072.80
Local
Deposits in Banks	112,619.58	94.10	119,678.71	266,933.91	166,228.99	130,796.55	112,519.31	147,954.60
Demand	112,619.58	94.10	119,678.71	266,933.91	166,228.99	130,796.55	112,519.31	147,954.60
Time	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Foreign
Deposits in Banks	-534,916,672.91	-59.42	900,280,189.52	717,408,834.01	665,420,617.82	604,911,611.35	714,248,175.75	598,731,847.10
Demand	-454,916,672.91	-75.16	605,280,189.52	443,408,834.01	299,420,617.82	244,911,611.35	304,248,175.75	148,731,847.10
Time	-80,000,000.00	-27.12	295,000,000.00	274,000,000.00	366,000,000.00	360,000,000.00	410,000,000.00	450,000,000.00
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	9,807.11	115.12	8,519.23	132,263.36	5,631.37	11,000.94	10,689.77	8,271.10
CREDIT
PORTFOLIO	-10,695,935.33	-0.42	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	2,437,789,432.53
Local	-73,824,743.25	-50.42	146,426,161.11	173,845,131.64	162,779,663.97	176,122,935.24	169,884,836.48	156,515,940.91
Foreign	98,340,611.71	3.98	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	2,361,852,947.87
Less
Allowance	35,211,803.79	64.43	54,647,901.86	54,683,983.45	54,757,450.50	80,575,367.33	80,574,096.55	80,579,456.25
Local	-330,113.63	-16.70	1,976,899.07	1,976,899.07	1,976,899.07	4,414,252.71	4,414,252.71	4,414,252.71
Foreign	35,541,917.42	67.48	52,671,002.79	52,707,084.38	52,780,551.43	76,161,114.62	76,159,843.84	76,165,203.54
INVESTMENT
SECURITIES	-171,210,881.40	-21.72	788,240,705.29	765,500,339.63	734,731,700.59	856,516,453.83	865,946,982.61	877,173,391.04
Local	-41,698,314.24	-48.82	85,418,314.23	86,488,314.23	85,982,128.43	90,117,500.00	92,097,500.00	93,545,399.49
Foreign	-129,512,567.16	-18.43	702,822,391.06	679,012,025.40	648,749,572.16	766,398,953.83	773,849,482.61	783,627,991.55
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	-21,616,490.43	-30.81	70,168,089.80	61,211,751.15	62,248,402.29	53,503,328.21	56,411,130.59	56,851,332.30
Local	-6,902,235.26	-55.23	12,497,285.64	7,648,698.17	9,131,122.10	6,008,575.50	6,775,089.32	6,840,558.32
Foreign	-14,714,255.17	-25.51	57,670,804.16	53,563,052.98	53,117,280.19	47,494,752.71	49,636,041.27	50,010,773.98
TOTAL
ASSETS	-738,317,553.38	-17.08	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	3,970,702,228.67
DEPOSITS	86,946,213.15	7.43	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	1,120,018,913.25
Local	43,509,550.98	62.80	69,284,763.22	71,361,388.44	93,151,832.86	83,715,903.77	88,792,169.93	46,833,464.29
Government	0.00	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	0.00
Demand	0.00	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	0.00
Savings	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
From
Banks	53,509,550.98	90.26	59,284,763.22	71,361,388.44	93,151,832.86	83,715,903.77	88,792,169.93	46,833,464.29
Demand	-1,646,669.89	-84.46	1,949,582.22	1,811,078.40	1,998,473.25	256,698.83	300,735.28	292,102.36
Time	55,156,220.87	96.20	57,335,181.00	69,550,310.04	91,153,359.61	83,459,204.94	88,491,434.65	46,541,361.93
Foreign	43,436,662.17	3.95	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	1,073,185,448.96
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Customers	12,273,175.22	203.20	6,040,084.86	2,039,059.60	2,082,474.99	5,319,493.77	28,779,906.58	21,625,418.87
Demand	1,050,430.97	68.43	1,535,090.42	1,534,684.60	1,578,099.99	1,815,118.77	3,779,906.58	1,576,418.87
Time	11,222,744.25	249.12	4,504,994.44	504,375.00	504,375.00	3,504,375.00	25,000,000.00	20,049,000.00
Savings	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
From
Banks	31,163,486.95	2.85	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	1,051,560,030.09
Demand	-74,458,455.24	-67.57	110,194,972.25	78,005,924.10	91,304,980.79	53,766,988.66	44,229,767.30	66,499,310.11
Time	105,621,942.19	10.73	984,186,027.99	1,043,326,736.29	1,031,201,960.06	1,073,964,055.96	985,595,863.89	985,060,719.98
BORROWINGS	-827,940,664.97	-34.04	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	2,147,349,144.52
Local	-20,100,000.00	-100.00	20,100,000.00	16,900,000.00	11,800,000.00	0.00	0.00	0.00
Foreign	-807,840,664.97	-33.49	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	2,147,349,144.52
OTHER
LIABILITIES	-70,468,302.04	-37.87	186,090,509.36	185,549,413.63	157,691,719.82	121,266,171.66	117,074,330.21	107,326,591.64
Local	-4,249,472.02	-29.10	14,602,722.51	14,526,998.13	3,523,167.99	8,040,512.59	8,556,100.60	3,346,440.41
Foreign	-66,218,830.02	-38.61	171,487,786.85	171,022,415.50	154,168,551.83	113,225,659.07	108,518,229.61	103,980,151.23
STOCKHOLDERS´
EQUITY	73,145,200.49	13.67	534,986,004.71	559,830,428.20	556,904,941.40	552,780,634.19	578,586,029.03	596,007,579.36
Capital	2,248,428.88	0.80	282,794,414.74	282,906,856.00	283,012,670.14	283,151,067.79	283,285,001.00	284,231,828.41
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	95,210,153.67
Other
Reserves	2,204,710.56	-36.96	-5,964,753.66	-4,633,080.66	-3,334,858.66	-44,198,634.92	-1,034,258.05	-2,451,423.40
Retained
Earnings	15,912,959.16	8.32	191,275,312.05	229,096,975.05	229,096,975.05	223,633,661.58	223,633,606.98	223,633,606.98
Net
Income	-4,289,687.38	-11.34	37,821,663.04	8,549,170.42	9,411,562.60	7,949,221.38	14,266,514.05	20,299,961.01
Gain
or Loss in Securities available for sale	57,068,789.27	-86.27	-66,150,785.13	-51,299,646.28	-56,491,561.40	-12,964,835.31	-36,774,988.62	-24,916,547.31
Subordinated
Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
LIABILITIES
AND STOCKHOLDER'S EQUITY	-738,317,553.37	-17.08	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	3,970,702,228.77

*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.

BANCO LATINOAMERICANO DE COMERCIO EXTERIOR, S.A. BALANCE SHEETS DECEMBER 2008 AND JANUARY - NOVEMBER 2009 (In Balboas) January 29, 2010

Description	2009 — June	July	August	September	October	November	December
LIQUID
ASSETS	484,519,897.02	519,272,552.19	554,541,550.20	460,262,199.60	413,980,923.35	365,614,141.24	0.00
Local
Deposits in Banks	101,817.74	246,125.36	187,934.85	183,714.66	185,402.13	232,298.29	0.00
Demand	101,817.74	246,125.36	187,934.85	183,714.66	185,402.13	232,298.29	0.00
Time	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Foreign
Deposits in Banks	484,410,056.48	519,015,601.76	554,341,997.65	460,067,917.01	413,784,925.91	365,363,516.61	0.00
Demand	79,410,056.48	167,315,601.76	164,441,997.65	169,267,917.01	101,984,925.91	150,363,516.61	0.00
Time	405,000,000.00	351,700,000.00	389,900,000.00	290,800,000.00	311,800,000.00	215,000,000.00	0.00
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	8,022.80	10,825.07	11,617.70	10,567.93	10,595.31	18,326.34	0.00
CREDIT
PORTFOLIO	2,591,388,011.59	2,455,882,697.75	2,411,183,436.49	2,517,886,713.85	2,613,520,933.25	2,553,299,621.70	0.00
Local	163,152,197.62	164,110,511.67	148,673,253.72	79,298,469.76	94,183,020.14	72,601,417.86	0.00
Foreign	2,518,480,397.64	2,382,016,769.75	2,352,752,616.74	2,528,468,536.69	2,609,196,263.53	2,570,557,909.49	0.00
Less
Allowance	90,244,583.67	90,244,583.67	90,242,433.97	89,880,292.60	89,858,350.42	89,859,705.65	0.00
Local	3,390,132.03	3,390,132.03	3,390,132.03	1,646,785.44	1,646,785.44	1,646,785.44	0.00
Foreign	86,854,451.64	86,854,451.64	86,852,301.94	88,233,507.16	88,211,564.98	88,212,920.21	0.00
INVESTMENT
SECURITIES	879,386,953.53	880,612,999.70	734,210,231.92	618,034,784.23	611,364,835.78	617,029,823.89	0.00
Local	94,004,099.83	94,465,600.00	43,499,999.99	44,085,999.99	43,355,999.99	43,719,999.99	0.00
Foreign	785,382,853.70	786,147,399.70	690,710,231.93	573,948,784.24	568,008,835.79	573,309,823.90	0.00
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
OTHER
ASSETS	56,457,781.60	52,504,623.92	55,425,644.70	50,137,469.59	49,739,550.36	48,551,599.37	0.00
Local	6,170,141.54	6,817,446.71	6,269,915.71	4,961,806.42	5,275,106.46	5,595,050.38	0.00
Foreign	50,287,640.06	45,687,177.21	49,155,728.99	45,175,663.17	44,464,443.90	42,956,548.99	0.00
TOTAL
ASSETS	4,011,752,643.74	3,908,272,873.56	3,755,360,863.31	3,646,321,167.27	3,688,606,242.74	3,584,495,186.20	0.00
DEPOSITS	1,261,055,899.46	1,251,135,039.43	1,209,014,340.10	1,222,226,950.57	1,278,322,021.64	1,256,652,061.47	0.00
Local	107,842,679.09	99,689,243.09	105,289,802.27	97,794,487.38	103,777,861.30	112,794,314.20	0.00
Government	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
Demand	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
Savings	0.00	0.00	0.00	0.00	0.00	0.00	0.00
From
Banks	107,842,679.09	99,689,243.09	105,289,802.27	97,794,487.38	103,777,861.30	112,794,314.20	0.00
Demand	295,670.56	242,837.44	279,706.33	322,766.33	293,741.33	302,912.33	0.00
Time	107,547,008.53	99,446,405.65	105,010,095.94	97,471,721.05	103,484,119.97	112,491,401.87	0.00
Foreign	1,153,213,220.37	1,151,445,796.34	1,103,724,537.83	1,124,432,463.19	1,174,544,160.34	1,143,857,747.27	0.00
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Customers	12,133,554.61	11,626,243.77	5,538,859.51	2,979,687.20	18,000,452.19	18,313,260.08	0.00
Demand	2,133,554.61	1,626,243.77	4,811,645.37	2,356,167.36	2,272,873.45	2,585,521.39	0.00
Time	10,000,000.00	10,000,000.00	727,214.14	623,519.84	15,727,578.74	15,727,738.69	0.00
Savings	0.00	0.00	0.00	0.00	0.00	0.00	0.00
From
Banks	1,141,079,665.76	1,139,819,552.57	1,098,185,678.32	1,121,452,775.99	1,156,543,708.15	1,125,544,487.19	0.00
Demand	154,233,381.53	53,911,580.66	71,240,032.12	33,996,012.17	15,960,284.17	35,736,517.01	0.00
Time	986,846,284.23	1,085,907,971.91	1,026,945,646.20	1,087,456,763.82	1,140,583,423.98	1,089,807,970.18	0.00
BORROWINGS	2,048,985,848.28	1,940,977,247.57	1,827,730,257.39	1,692,735,399.72	1,685,947,186.28	1,604,089,712.27	0.00
Local	25,000,000.00	25,000,000.00	25,000,000.00	25,000,000.00	25,000,000.00	0.00	0.00
Foreign	2,023,985,848.28	1,915,977,247.57	1,802,730,257.39	1,667,735,399.72	1,660,947,186.28	1,604,089,712.27	0.00
OTHER
LIABILITIES	110,329,704.16	109,138,591.82	111,163,775.30	120,087,069.84	114,655,855.24	115,622,207.32	0.00
Local	8,882,402.20	5,463,759.62	3,748,521.79	14,310,268.71	6,081,339.13	10,353,250.49	0.00
Foreign	101,447,301.96	103,674,832.20	107,415,253.51	105,776,801.13	108,574,516.11	105,268,956.83	0.00
STOCKHOLDERS´
EQUITY	591,381,191.85	607,021,995.14	607,452,490.75	611,271,747.70	609,681,179.93	608,131,205.20	0.00
Capital	284,365,761.62	284,498,708.29	284,642,202.50	284,781,067.87	284,912,267.94	285,042,843.62	0.00
Capital
Reserves	95,210,153.67	95,210,153.67	95,210,153.67	95,210,153.67	95,210,153.67	95,210,153.67	0.00
Other
Reserves	-2,726,992.69	-2,773,185.29	-3,742,193.55	-3,544,047.99	-3,069,662.39	-3,760,043.10	0.00
Retained
Earnings	218,157,901.41	218,151,858.99	218,151,858.99	212,670,113.70	212,670,113.70	207,188,271.21	0.00
Net
Income	14,916,229.31	22,498,415.57	26,008,591.36	27,481,541.94	31,141,539.64	33,531,975.66	0.00
Gain
or Loss in Securities available for sale	-18,541,861.47	-10,563,956.09	-12,818,122.22	-5,327,081.49	-11,183,232.63	-9,081,995.86	0.00
Subordinated
Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00
LIABILITIES
AND STOCKHOLDER'S EQUITY	4,011,752,643.75	3,908,272,873.96	3,755,360,863.54	3,646,321,167.83	3,688,606,243.09	3,584,495,186.26	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.

STATEMENTS OF INCOME BANCO LATINOAMERICANO DE COMERCIO EXTERIOR, S.A. JANUARY - NOVEMBER 2009 (In Balboas)* January 29, 2010

| 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.

STATEMENTS OF INCOME BANCO LATINOAMERICANO DE COMERCIO EXTERIOR, S.A. JANUARY - NOVEMBER 2009 (In Balboas)* January 29, 2010

| Description — Interest
Income | 12,797,315.99 | 11,412,267.60 | 9,913,516.33 | 34,123,099.92 | 10,218,655.86 | 8,846,050.45 | 0.00 | 19,064,706.31 | 131,367,259.61 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Loans | 10,130,541.34 | 9,172,445.36 | 8,211,033.07 | 27,514,019.77 | 8,985,157.08 | 7,758,788.85 | 0.00 | 16,743,945.93 | 106,674,958.82 |
| Deposits | 104,337.12 | 92,266.80 | 94,380.04 | 290,983.96 | 74,188.02 | 61,091.74 | 0.00 | 135,279.76 | 1,188,491.14 |
| Investments | 2,562,437.53 | 2,147,555.44 | 1,608,103.22 | 6,318,096.19 | 1,159,310.76 | 1,026,169.86 | 0.00 | 2,185,480.62 | 23,503,809.65 |
| Interest
Expense | 6,117,909.19 | 5,584,758.99 | 5,050,402.79 | 16,753,070.97 | 4,590,893.13 | 3,987,004.16 | 0.00 | 8,577,897.29 | 71,030,128.02 |
| Interest | 6,110,602.17 | 5,577,642.46 | 5,043,072.12 | 16,731,316.75 | 4,580,294.36 | 3,979,944.49 | 0.00 | 8,560,238.85 | 70,955,419.23 |
| Commissions | 7,307.02 | 7,116.53 | 7,330.67 | 21,754.22 | 10,598.77 | 7,059.67 | 0.00 | 17,658.44 | 74,708.79 |
| Net
Interest Income | 6,679,406.80 | 5,827,508.61 | 4,863,113.54 | 17,370,028.95 | 5,627,762.73 | 4,859,046.29 | 0.00 | 10,486,809.02 | 60,337,131.59 |
| Other
Income | 3,166,123.52 | 223,672.97 | 908,429.05 | 4,298,225.54 | 1,119,439.91 | 494,333.57 | 0.00 | 1,613,773.48 | 22,064,612.97 |
| Commissions | 390,977.23 | 468,966.23 | 636,397.01 | 1,496,340.47 | 647,699.44 | 601,167.07 | 0.00 | 1,248,866.51 | 5,664,271.24 |
| Other
Income | 2,775,146.29 | -245,293.26 | 272,032.04 | 2,801,885.07 | 471,740.47 | -106,833.50 | 0.00 | 364,906.97 | 16,400,341.73 |
| Operating
Income | 9,845,530.32 | 6,051,181.58 | 5,771,542.59 | 21,668,254.49 | 6,747,202.64 | 5,353,379.86 | 0.00 | 12,100,582.50 | 82,401,744.56 |
| Operating
Expenses | 2,263,344.06 | 2,541,005.79 | 3,129,446.35 | 7,933,796.20 | 3,087,204.94 | 2,962,943.85 | 0.00 | 6,050,148.79 | 33,431,774.66 |
| Administrative
expenses | 1,387,670.05 | 1,547,199.51 | 1,448,113.79 | 4,382,983.35 | 1,505,909.72 | 1,508,630.41 | 0.00 | 3,014,540.13 | 17,912,651.12 |
| General
expenses | 191,112.55 | 308,119.62 | 277,018.83 | 776,251.00 | 399,991.68 | 369,588.26 | 0.00 | 769,579.94 | 3,612,733.62 |
| Depreciation | 206,957.24 | 203,404.59 | 204,243.35 | 614,605.18 | 212,657.95 | 208,120.03 | 0.00 | 420,777.98 | 2,362,896.26 |
| Other
expenses | 477,604.22 | 482,282.07 | 1,200,070.38 | 2,159,956.67 | 968,645.59 | 876,605.15 | 0.00 | 1,845,250.74 | 9,543,493.66 |
| Net
Income before provision for loan losses | 7,582,186.26 | 3,510,175.79 | 2,642,096.24 | 13,734,458.29 | 3,659,997.70 | 2,390,436.01 | 0.00 | 6,050,433.71 | 48,969,969.90 |
| Provision
for loan losses | 0.00 | 0.00 | 1,169,145.66 | 1,169,145.66 | 0.00 | 0.00 | 0.00 | 0.00 | 15,437,994.25 |
| Net
Income | 7,582,186.26 | 3,510,175.79 | 1,472,950.58 | 12,565,312.63 | 3,659,997.70 | 2,390,436.01 | 0.00 | 6,050,433.71 | 33,531,975.65 |

*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).