FOREIGN TRADE BANK OF LATIN AMERICA, INC.

6-K 1 v416588_6k.htm FORM 6-K

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 July, 2015

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)

Business Park Torre V, Ave. La Rotonda, Costa del Este

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__.)

Field: Page; Sequence: 1

Field: /Page

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.

July 30, 2015

FOREIGN TRADE BANK OF LATIN AMERICA, INC.

By: /s/ Pierre Dulin
Name:	Pierre Dulin
Title:	General Manager

Field: Page; Sequence: 2

Field: /Page

NOTA: LA INFORMACION INCLUIDA EN EL PRESENTE REPORTE 6-K FUE PREPARADA EN UNA BASE NO CONSOLIDADA Y EXCLUYE LA INFORMACION FINANCIERA DE BLADEX HOLDINGS INC., ALPHA4X OFFSHORE FEEDER FUND, BLADEX REPRESENTACAO LTDA., Y BLADEX INVESTIMENTOS LTDA., SEGUN LO EXIGIDO POR LAS LEYES Y REGULACIONES A LAS CUALES ESTAMOS SUJETOS EN PANAMA, EL PAIS DONDE LA SOCIEDA SE ENCUENTRA CONSTITUIDA Y DONDE ESTAMOS REGULADOS COMO UNA INSTITUCION FINANCIERA. PROPORCIONAMOS LOS ESTADOS FINANCIEROS ANUALES CONSOLIDADOS EN EL REPORTE 20-F QUE SE PRESENTA PARA CADA AÑO FISCAL ANTE EL SECURITIES AND EXCHANGE COMMISSION. LA INFORMACION FINANCIERA NO CONSOLIDADA CONTENIDA EN EL PRESENTE PODRA SER SUBSTANCIALMENTE DIFERENTE DE NUESTROS RESULTADOS FINANCIEROS CONSOLIDADOS PARA EL MISMO PERIODO.

6 de julio de 2015

BALANCE DE SITUACION BANCO LATINOAMERICANO DE COMERCIO EXTERIOR, S.A. DE DICIEMBRE 2014 A MAYO 2015 (En Miles de Balboas) *

| Variación
Absoluta | % | Diciembre | Enero | Febrero | Marzo | Abril | Mayo | Junio | Julio | Agosto | Septiembre | Octubre | Noviembre | Diciembre | |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| ACTIVOS LIQUIDOS | -19,737.58 | -2.53 | 780,009.65 | 771,132.02 | 908,299.33 | 944,371.99 | 658,564.17 | 760,272.07 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Depósitos Locales en Bancos | 40,142.19 | 33648.54 | 119.30 | 154.22 | 153.17 | 145.32 | 40,125.31 | 40,261.49 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| A la Vista | 40,142.19 | 33648.54 | 119.30 | 154.22 | 153.17 | 145.32 | 40,125.31 | 40,261.49 | 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 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Depósitos Extranjeros en Bancos | -59,881.85 | -7.68 | 779,881.06 | 770,967.49 | 908,137.72 | 944,214.22 | 618,429.71 | 719,999.22 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| A la Vista | -69,881.85 | -9.20 | 759,881.06 | 770,967.49 | 878,137.72 | 914,214.22 | 588,429.71 | 689,999.22 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| A Plazo | 10,000.00 | 50.00 | 20,000.00 | 0.00 | 30,000.00 | 30,000.00 | 30,000.00 | 30,000.00 | 0.00 | 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 | 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 | 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 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Otros | 2.07 | 22.34 | 9.29 | 10.31 | 8.45 | 12.45 | 9.16 | 11.36 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| CARTERA CREDITICIA | -179,745.85 | -2.69 | 6,683,828.99 | 6,640,917.21 | 6,617,713.34 | 6,564,870.51 | 6,635,685.08 | 6,504,083.14 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Locales | 5,566.16 | 1.47 | 378,738.78 | 381,495.39 | 379,400.60 | 384,709.82 | 376,234.60 | 384,304.94 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Extranjero | -183,663.72 | -2.91 | 6,307,505.02 | 6,261,836.63 | 6,240,727.55 | 6,184,223.80 | 6,263,513.58 | 6,123,841.30 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Menos Provisiones | 1,648.29 | 68.26 | 2,414.81 | 2,414.81 | 2,414.81 | 4,063.10 | 4,063.10 | 4,063.10 | 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 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Extranjero | 1,648.29 | 68.26 | 2,414.81 | 2,414.81 | 2,414.81 | 4,063.10 | 4,063.10 | 4,063.10 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| INVERSIONES EN VALORES | -54,781.80 | -11.92 | 459,715.20 | 442,475.57 | 483,804.18 | 460,309.46 | 430,241.62 | 404,933.41 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Locales | -3,416.03 | -7.53 | 45,394.40 | 49,262.23 | 43,644.65 | 38,041.65 | 38,049.38 | 41,978.37 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Extranjero | -51,365.76 | -12.40 | 414,320.80 | 393,213.34 | 440,159.53 | 422,267.81 | 392,192.24 | 362,955.04 | 0.00 | 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 | 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 | 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 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| OTROS ACTIVOS | -96,543.52 | -49.16 | 196,376.44 | 163,268.76 | 76,142.32 | 75,702.28 | 84,618.31 | 99,832.92 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Locales | 4,582.05 | 25.26 | 18,139.87 | 21,134.00 | 20,894.34 | 20,109.03 | 28,799.24 | 22,721.92 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Extranjero | -101,125.57 | -56.74 | 178,236.58 | 142,134.76 | 55,247.98 | 55,593.25 | 55,819.06 | 77,111.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| TOTAL DE ACTIVOS | -350,808.74 | -4.32 | 8,119,930.28 | 8,017,793.56 | 8,085,959.18 | 8,045,254.24 | 7,809,109.17 | 7,769,121.54 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| DEPOSITOS | 315,912.93 | 12.60 | 2,506,693.80 | 2,278,821.08 | 2,461,553.58 | 2,566,032.90 | 2,674,132.08 | 2,822,606.73 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Locales | 17,039.58 | 3.22 | 528,460.90 | 504,946.42 | 488,106.85 | 529,669.38 | 540,000.78 | 545,500.49 | 0.00 | 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 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| De Particulares | 538.11 | 0.35 | 153,843.56 | 133,841.65 | 137,483.25 | 140,047.76 | 149,380.62 | 154,381.67 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| A la Vista | 1,538.11 | 54.09 | 2,843.56 | 2,841.65 | 2,483.25 | 47.76 | 4,380.62 | 4,381.67 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| A Plazo | -1,000.00 | -0.66 | 151,000.00 | 131,000.00 | 135,000.00 | 140,000.00 | 145,000.00 | 150,000.00 | 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 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| De Bancos | 16,501.47 | 4.40 | 374,617.34 | 371,104.78 | 350,623.60 | 389,621.62 | 390,620.16 | 391,118.82 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| A la Vista | 0.00 | 0.00 | 15.00 | 15.00 | 15.00 | 15.00 | 15.00 | 15.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| A Plazo | 16,501.47 | 4.41 | 374,602.34 | 371,089.78 | 350,608.60 | 389,606.62 | 390,605.16 | 391,103.82 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Extranjero | 298,873.35 | 15.11 | 1,978,232.89 | 1,773,874.66 | 1,973,446.73 | 2,036,363.52 | 2,134,131.31 | 2,277,106.24 | 0.00 | 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 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| De Particulares | -5,771.63 | -7.73 | 74,624.79 | 75,701.52 | 78,455.36 | 135,471.91 | 162,862.09 | 68,853.16 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| A la Vista | 15,874.18 | 396.73 | 4,001.26 | 2,276.22 | 8,082.07 | 22,085.42 | 25,565.28 | 19,875.44 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| A Plazo | -21,645.81 | -30.65 | 70,623.53 | 73,425.30 | 70,373.29 | 113,386.49 | 137,296.81 | 48,977.73 | 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 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| De Bancos | 304,644.98 | 16.00 | 1,903,608.10 | 1,698,173.14 | 1,894,991.37 | 1,900,891.62 | 1,971,269.22 | 2,208,253.08 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| A la Vista | -21,416.40 | -27.70 | 77,314.86 | 50,867.26 | 19,680.64 | 87,004.90 | 42,349.01 | 55,898.46 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| A Plazo | 326,061.38 | 17.85 | 1,826,293.24 | 1,647,305.88 | 1,875,310.73 | 1,813,886.72 | 1,928,920.21 | 2,152,354.62 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| OBLIGACIONES | -579,200.44 | -13.17 | 4,398,575.31 | 4,550,166.66 | 4,512,113.23 | 4,381,060.54 | 4,036,105.23 | 3,819,374.86 | 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 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Extranjero | -579,200.44 | -13.17 | 4,398,575.31 | 4,550,166.66 | 4,512,113.23 | 4,381,060.54 | 4,036,105.23 | 3,819,374.86 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| OTROS PASIVOS | -121,594.03 | -58.11 | 209,262.74 | 172,067.03 | 85,059.70 | 63,330.13 | 69,070.88 | 87,668.71 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Locales | 3,207.54 | 33.56 | 9,556.67 | 9,196.04 | 10,116.73 | 8,003.52 | 10,587.85 | 12,764.21 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Extranjero | -124,801.57 | -62.49 | 199,706.07 | 162,870.98 | 74,942.97 | 55,326.60 | 58,483.03 | 74,904.50 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PATRIMONIO | 34,072.80 | 3.39 | 1,005,398.44 | 1,016,738.79 | 1,027,232.66 | 1,034,830.67 | 1,029,800.98 | 1,039,471.23 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Capital | 2,339.71 | 0.73 | 319,693.42 | 319,874.27 | 320,115.60 | 321,650.35 | 321,863.07 | 322,033.13 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Reservas de Capital | 0.00 | 0.00 | 95,210.15 | 95,210.15 | 95,210.15 | 95,210.15 | 95,210.15 | 95,210.15 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Otras Reservas | -675.49 | -0.74 | 91,516.14 | 89,778.60 | 91,035.17 | 90,709.15 | 92,506.42 | 90,840.66 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Provisiones Dinámicas | 0.00 | 0.00 | 91,124.30 | 91,124.30 | 91,124.30 | 91,124.30 | 91,124.30 | 91,124.30 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Otras Reservas | -675.49 | -172.39 | 391.84 | -1,345.70 | -89.14 | -415.15 | 1,382.11 | -283.65 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Utilidad de Periodos Anteriores | 90,507.52 | 22.52 | 401,828.56 | 509,693.99 | 508,730.56 | 507,339.56 | 492,336.30 | 492,336.08 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Utilidad de Periodo | -62,792.66 | -58.59 | 107,177.64 | 13,222.19 | 20,149.94 | 28,982.83 | 36,082.99 | 44,384.98 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Ganancia o Perdida en Valores Disponible para
la venta | 4,693.72 | -46.81 | -10,027.48 | -11,040.41 | -8,008.75 | -9,061.38 | -8,197.94 | -5,333.76 | 0.00 | 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 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PASIVO Y PATRIMONIO | -350,808.74 | -4.32 | 8,119,930.28 | 8,017,793.56 | 8,085,959.18 | 8,045,254.24 | 7,809,109.17 | 7,769,121.54 | 0.00 | 0.00 | 0.00 | 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).

Field: Page; Sequence: 3

Field: /Page

6 de julio de 2015

ESTADO DE RESULTADO BANCO LATINOAMERICANO DE COMERCIO EXTERIOR, S.A. DE DICIEMBRE 2014 A MAYO 2015 (En Miles de Balboas) *

Diciembre	Enero	Febrero	Marzo	Abril	Mayo	Junio
Ingresos Por Intereses	212,709.99	18,613.40	16,794.04	18,190.36	17,839.75	17,713.01	89,150.56
Préstamos	201,907.85	17,668.81	15,986.84	17,245.31	16,852.82	16,856.45	84,610.22
Depósitos	1,545.35	138.00	128.08	164.61	224.10	119.32	774.11
Inversiones	9,256.79	806.59	679.13	780.44	762.84	737.24	3,766.23
Arrendamiento Financiero	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Otros Ingresos	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Egresos de Operaciones	71,803.54	6,124.38	5,554.19	6,225.00	5,917.99	6,118.84	29,940.39
Intereses Pagados	71,562.06	6,121.15	5,553.17	6,154.21	5,894.45	6,097.49	29,820.48
Comisiones	241.48	3.23	1.02	70.78	23.53	21.35	119.91
Ingreso Neto de Intereses	140,906.45	12,489.03	11,239.85	11,965.36	11,921.77	11,594.16	59,210.17
Otros Ingresos	154,956.22	20,191.86	13,097.70	18,016.20	18,271.25	14,281.27	83,858.29
Comisiones	17,718.85	779.90	687.15	885.34	912.10	1,049.77	4,314.26
Operaciones con Divisas	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividendos	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Otros ingresos	137,237.37	19,411.96	12,410.55	17,130.86	17,359.16	13,231.50	79,544.03
Ingresos de Operaciones	295,862.67	32,680.89	24,337.55	29,981.56	30,193.02	25,875.43	143,068.46
Egresos Generales	180,127.98	19,458.70	17,409.80	21,141.03	23,092.87	17,573.44	98,675.84
Gastos Administrativos	33,148.86	2,210.92	2,092.73	3,800.43	2,400.78	2,920.86	13,425.72
Gastos Generales	7,670.76	307.14	773.02	515.09	778.00	493.48	2,866.73
Gastos de Depreciación	2,440.50	173.35	173.35	173.23	179.63	172.69	872.26
Otros Gastos	136,867.86	16,767.29	14,370.71	16,652.27	19,734.46	13,986.41	81,511.14
Utilidad antes de Provisiones	115,734.69	13,222.19	6,927.75	8,840.53	7,100.16	8,301.99	44,392.62
Provisiones por Cuentas Malas	8,522.23	0.00	0.00	1.58	0.00	0.00	1.58
Utilidad del Periodo	107,212.46	13,222.19	6,927.75	8,838.95	7,100.16	8,301.99	44,391.04

*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).

Field: Page; Sequence: 4

Field: /Page

NOTE: THE FINANCIAL INFORMATION INCLUDED IN THIS FORM 6-K HAS BEEN PREPARED ON A NON-CONSOLIDATED BASIS AND EXCLUDES FINANCIAL INFORMATION FOR BLADEX HOLDINGS INC., ALPHA4X OFFSHORE FEEDER FUND, BLADEX REPRESENTACAO LTDA., AND BLADEX INVESTIMENTOS LTDA., AS REQUIRED BY THE LAWS AND REGULATIONS APPLICABLE TO BANCO LATINOAMERICANO DE COMERCIO EXTERIOR, S.A. ("BLADEX") IN PANAMA, COUNTRY OF INCORPORATION WHERE BLADEX IS REGULATED AS A BANK WITH A GENERAL LICENSE . WE PROVIDE CONSOLIDATED ANNUAL FINANCIAL STATEMENTS IN OUR ANNUAL REPORT ON FORM 20-F FOR EACH FISCAL YEAR. THE NON-CONSOLIDATED FINANCIAL INFORMATION CONTAINED HEREIN MAY DIFFER MATERIALLY FROM OUR CONSOLIDATED FINANCIAL RESULTS FOR THE SAME PERIOD.

July 6, 2015

BALANCE SHEET BANCO LATINOAMERICANO DE COMERCIO EXTERIOR, S.A. DECEMBER 2014 - MAY 2015 (In Thousand Balboas) *

| Absolute
Variation | % | December | January | February | March | April | May | June | July | August | September | October | November | December | |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| LIQUID ASSETS | -19,737.58 | -2.53 | 780,009.65 | 771,132.02 | 908,299.33 | 944,371.99 | 658,564.17 | 760,272.07 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Local Deposits in Banks | 40,142.19 | 33,648.54 | 119.30 | 154.22 | 153.17 | 145.32 | 40,125.31 | 40,261.49 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Demand | 40,142.19 | 33,648.54 | 119.30 | 154.22 | 153.17 | 145.32 | 40,125.31 | 40,261.49 | 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 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Foreign Deposits in Banks | -59,881.85 | -7.68 | 779,881.06 | 770,967.49 | 908,137.72 | 944,214.22 | 618,429.71 | 719,999.22 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Demand | -69,881.85 | -9.20 | 759,881.06 | 770,967.49 | 878,137.72 | 914,214.22 | 588,429.71 | 689,999.22 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Time | 10,000.00 | 50.00 | 20,000.00 | 0.00 | 30,000.00 | 30,000.00 | 30,000.00 | 30,000.00 | 0.00 | 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 | 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 | 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 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Others | 2.07 | 22.34 | 9.29 | 10.31 | 8.45 | 12.45 | 9.16 | 11.36 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| CREDIT PORTFOLIO | -179,745.85 | -2.69 | 6,683,828.99 | 6,640,917.21 | 6,617,713.34 | 6,564,870.51 | 6,635,685.08 | 6,504,083.14 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Local | 5,566.16 | 1.47 | 378,738.78 | 381,495.39 | 379,400.60 | 384,709.82 | 376,234.60 | 384,304.94 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Foreign | -183,663.72 | -2.91 | 6,307,505.02 | 6,261,836.63 | 6,240,727.55 | 6,184,223.80 | 6,263,513.58 | 6,123,841.30 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Less Allowance | 1,648.29 | 68.26 | 2,414.81 | 2,414.81 | 2,414.81 | 4,063.10 | 4,063.10 | 4,063.10 | 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 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Foreign | 1,648.29 | 68.26 | 2,414.81 | 2,414.81 | 2,414.81 | 4,063.10 | 4,063.10 | 4,063.10 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| INVESTMENT SECURITIES | -54,781.80 | -11.92 | 459,715.20 | 442,475.57 | 483,804.18 | 460,309.46 | 430,241.62 | 404,933.41 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Local | -3,416.03 | -7.53 | 45,394.40 | 49,262.23 | 43,644.65 | 38,041.65 | 38,049.38 | 41,978.37 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Foreign | -51,365.76 | -12.40 | 414,320.80 | 393,213.34 | 440,159.53 | 422,267.81 | 392,192.24 | 362,955.04 | 0.00 | 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 | 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 | 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 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| OTHER ASSETS | -96,543.52 | -49.16 | 196,376.44 | 163,268.76 | 76,142.32 | 75,702.28 | 84,618.31 | 99,832.92 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Local | 4,582.05 | 25.26 | 18,139.87 | 21,134.00 | 20,894.34 | 20,109.03 | 28,799.24 | 22,721.92 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Foreign | -101,125.57 | -56.74 | 178,236.58 | 142,134.76 | 55,247.98 | 55,593.25 | 55,819.06 | 77,111.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| TOTAL ASSETS | -350,808.74 | -4.32 | 8,119,930.28 | 8,017,793.56 | 8,085,959.18 | 8,045,254.24 | 7,809,109.17 | 7,769,121.54 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| DEPOSITS | 315,912.93 | 12.60 | 2,506,693.80 | 2,278,821.08 | 2,461,553.58 | 2,566,032.90 | 2,674,132.08 | 2,822,606.73 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Local | 17,039.58 | 3.22 | 528,460.90 | 504,946.42 | 488,106.85 | 529,669.38 | 540,000.78 | 545,500.49 | 0.00 | 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 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Customers | 538.11 | 0.35 | 153,843.56 | 133,841.65 | 137,483.25 | 140,047.76 | 149,380.62 | 154,381.67 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Demand | 1,538.11 | 54.09 | 2,843.56 | 2,841.65 | 2,483.25 | 47.76 | 4,380.62 | 4,381.67 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Time | -1,000.00 | -0.66 | 151,000.00 | 131,000.00 | 135,000.00 | 140,000.00 | 145,000.00 | 150,000.00 | 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 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| From Banks | 16,501.47 | 4.40 | 374,617.34 | 371,104.78 | 350,623.60 | 389,621.62 | 390,620.16 | 391,118.82 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Demand | 0.00 | 0.00 | 15.00 | 15.00 | 15.00 | 15.00 | 15.00 | 15.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Time | 16,501.47 | 4.41 | 374,602.34 | 371,089.78 | 350,608.60 | 389,606.62 | 390,605.16 | 391,103.82 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Foreign | 298,873.35 | 15.11 | 1,978,232.89 | 1,773,874.66 | 1,973,446.73 | 2,036,363.52 | 2,134,131.31 | 2,277,106.24 | 0.00 | 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 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Customers | -5,771.63 | -7.73 | 74,624.79 | 75,701.52 | 78,455.36 | 135,471.91 | 162,862.09 | 68,853.16 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Demand | 15,874.18 | 396.73 | 4,001.26 | 2,276.22 | 8,082.07 | 22,085.42 | 25,565.28 | 19,875.44 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Time | -21,645.81 | -30.65 | 70,623.53 | 73,425.30 | 70,373.29 | 113,386.49 | 137,296.81 | 48,977.73 | 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 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| From Banks | 304,644.98 | 16.00 | 1,903,608.10 | 1,698,173.14 | 1,894,991.37 | 1,900,891.62 | 1,971,269.22 | 2,208,253.08 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Demand | -21,416.40 | -27.70 | 77,314.86 | 50,867.26 | 19,680.64 | 87,004.90 | 42,349.01 | 55,898.46 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Time | 326,061.38 | 17.85 | 1,826,293.24 | 1,647,305.88 | 1,875,310.73 | 1,813,886.72 | 1,928,920.21 | 2,152,354.62 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| BORROWINGS | -579,200.44 | -13.17 | 4,398,575.31 | 4,550,166.66 | 4,512,113.23 | 4,381,060.54 | 4,036,105.23 | 3,819,374.86 | 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 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Foreign | -579,200.44 | -13.17 | 4,398,575.31 | 4,550,166.66 | 4,512,113.23 | 4,381,060.54 | 4,036,105.23 | 3,819,374.86 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| OTHER LIABILITIES | -121,594.03 | -58.11 | 209,262.74 | 172,067.03 | 85,059.70 | 63,330.13 | 69,070.88 | 87,668.71 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Local | 3,207.54 | 33.56 | 9,556.67 | 9,196.04 | 10,116.73 | 8,003.52 | 10,587.85 | 12,764.21 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Foreign | -124,801.57 | -62.49 | 199,706.07 | 162,870.98 | 74,942.97 | 55,326.60 | 58,483.03 | 74,904.50 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| STOCKHOLDERS´ EQUITY | 34,072.80 | 3.39 | 1,005,398.44 | 1,016,738.79 | 1,027,232.66 | 1,034,830.67 | 1,029,800.98 | 1,039,471.23 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Capital | 2,339.71 | 0.73 | 319,693.42 | 319,874.27 | 320,115.60 | 321,650.35 | 321,863.07 | 322,033.13 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Capital Reserves | 0.00 | 0.00 | 95,210.15 | 95,210.15 | 95,210.15 | 95,210.15 | 95,210.15 | 95,210.15 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Reserves | -675.49 | -0.74 | 91,516.14 | 89,778.60 | 91,035.17 | 90,709.15 | 92,506.42 | 90,840.66 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Dynamic Provision | 0.00 | 0.00 | 91,124.30 | 91,124.30 | 91,124.30 | 91,124.30 | 91,124.30 | 91,124.30 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Reserves | -675.49 | -172.39 | 391.84 | -1,345.70 | -89.14 | -415.15 | 1,382.11 | -283.65 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Retained Earnings | 90,507.52 | 22.52 | 401,828.56 | 509,693.99 | 508,730.56 | 507,339.56 | 492,336.30 | 492,336.08 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Net Income | -62,792.66 | -58.59 | 107,177.64 | 13,222.19 | 20,149.94 | 28,982.83 | 36,082.99 | 44,384.98 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gain or Loss in Securities available for sale | 4,693.72 | -46.81 | -10,027.48 | -11,040.41 | -8,008.75 | -9,061.38 | -8,197.94 | -5,333.76 | 0.00 | 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 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| LIABILITIES AND STOCKHOLDER'S EQUITY | -350,808.74 | -4.32 | 8,119,930.28 | 8,017,793.56 | 8,085,959.18 | 8,045,254.24 | 7,809,109.17 | 7,769,121.54 | 0.00 | 0.00 | 0.00 | 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).

Field: Page; Sequence: 5

Field: /Page

July 6, 2015

INCOME STATEMENT BANCO LATINOAMERICANO DE COMERCIO EXTERIOR, S.A. DECEMBER 2014 - MAY 2015 (In Thousand Balboas) *

| December | January | February | March | April | May | June | July | August | September | October | November | December | Year
to date | |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Interest Income | 212,709.99 | 18,613.40 | 16,794.04 | 18,190.36 | 17,839.75 | 17,713.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 89,150.56 |
| Loans | 201,907.85 | 17,668.81 | 15,986.84 | 17,245.31 | 16,852.82 | 16,856.45 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 84,610.22 |
| Deposits | 1,545.35 | 138.00 | 128.08 | 164.61 | 224.10 | 119.32 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 774.11 |
| Investments | 9,256.79 | 806.59 | 679.13 | 780.44 | 762.84 | 737.24 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 3,766.23 |
| Financial Leases | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Income | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest Expense | 71,803.54 | 6,124.38 | 5,554.19 | 6,225.00 | 5,917.99 | 6,118.84 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 29,940.39 |
| Interest | 71,562.06 | 6,121.15 | 5,553.17 | 6,154.21 | 5,894.45 | 6,097.49 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 29,820.48 |
| Commissions | 241.48 | 3.23 | 1.02 | 70.78 | 23.53 | 21.35 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 119.91 |
| Net Interest Income | 140,906.45 | 12,489.03 | 11,239.85 | 11,965.36 | 11,921.77 | 11,594.16 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 59,210.17 |
| Other Income | 154,956.22 | 20,191.86 | 13,097.70 | 18,016.20 | 18,271.25 | 14,281.27 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 83,858.29 |
| Commissions | 17,718.85 | 779.90 | 687.15 | 885.34 | 912.10 | 1,049.77 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 4,314.26 |
| Foreign currency operations | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Dividends | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Income | 137,237.37 | 19,411.96 | 12,410.55 | 17,130.86 | 17,359.16 | 13,231.50 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 79,544.03 |
| Operating Income | 295,862.67 | 32,680.89 | 24,337.55 | 29,981.56 | 30,193.02 | 25,875.43 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 143,068.46 |
| Operating Expenses | 180,127.98 | 19,458.70 | 17,409.80 | 21,141.03 | 23,092.87 | 17,573.44 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 98,675.84 |
| Administrative expenses | 33,148.86 | 2,210.92 | 2,092.73 | 3,800.43 | 2,400.78 | 2,920.86 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 13,425.72 |
| General expenses | 7,670.76 | 307.14 | 773.02 | 515.09 | 778.00 | 493.48 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 2,866.73 |
| Depreciation | 2,440.50 | 173.35 | 173.35 | 173.23 | 179.63 | 172.69 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 872.26 |
| Other expenses | 136,867.86 | 16,767.29 | 14,370.71 | 16,652.27 | 19,734.46 | 13,986.41 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 81,511.14 |
| Net Income before provision for loan losses | 115,734.69 | 13,222.19 | 6,927.75 | 8,840.53 | 7,100.16 | 8,301.99 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 44,392.62 |
| Provision for loan losses | 8,522.23 | 0.00 | 0.00 | 1.58 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1.58 |
| Net Income | 107,212.46 | 13,222.19 | 6,927.75 | 8,838.95 | 7,100.16 | 8,301.99 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 44,391.04 |

*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).

Field: Page; Sequence: 6; Options: Last

Field: /Page

AI Terminal

More from FOREIGN TRADE BANK OF LATIN AMERICA, INC.

Talk to a Data Expert