Edgar Filing: LATIN AMERICAN EXPORT BANK

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

Report of Foreign Private Issuer

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

Securities Exchange Act of 1934

For the month of August, 2008

BANCO LATINOAMERICANO DE EXPORTACIONES, S.A.

(Exact name of Registrant as specified in its Charter)

LATIN AMERICAN EXPORT BANK

(Translation of Registrant’s name into English)

Calle 50 y Aquilino de la Guardia

Apartado 0819-08730

El Dorado, Panama City

Republic of Panama

(Address of Registrant’s Principal Executive Offices)

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

Form 20-F x Form 40-F ¨

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

Yes ¨ No x

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

SIGNATURES

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

August 20, 2008

	Banco Latinoamericano de Exportaciones, S.A.

		By: /s/ Pedro Toll

		Name: Pedro Toll
		Title: Deputy Manager

BANCO LATINOAMERICANO DE EXPORTACIONES

BALANCE DE SITUACIÓN DE DICIEMBRE 2007 Y ENERO - JUNIO 2008

(En Balboas)

11 de Agosto de 2008

					2007		2008
Descripción	Absoluta		%		Diciembre		Enero		Febrero		Marzo		Abril
ACTIVOS LIQUIDOS		-52,439,247.44		-13.07		401,327,785.63		294,054,753.39		403,828,804.69		487,583,782.85		337,155,177.39
Depositos Locales en Bancos		-119,834.51		-41.94		285,754.54		233,625.57		225,027.61		257,527.62		256,156.02
A la Vista		-119,834.51		-41.94		285,754.54		233,625.57		225,027.61		257,527.62		256,156.02
A Plazo		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Depositos Extranjeros en Bancos		-52,318,998.40		-13.05		401,036,339.06		293,816,988.13		403,599,292.09		487,320,706.18		336,892,774.62
A la Vista		13,381,001.60		931.60		1,436,339.06		6,216,988.13		5,099,292.09		3,720,706.18		5,592,774.62
A Plazo		-65,700,000.00		-16.44		399,600,000.00		287,600,000.00		398,500,000.00		483,600,000.00		331,300,000.00
Menos Provisiones		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Locales		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Extranjero		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Otros		-414.53		-7.28		5,692.03		4,139.69		4,484.99		5,549.05		6,246.75
CARTERA CREDITICIA		372,650,985.09		10.18		3,662,194,693.87		3,548,971,499.30		3,683,948,745.67		3,704,904,162.38		3,866,918,998.90
Locales		121,920,371.08		48.29		252,482,566.49		259,592,677.23		259,887,677.23		398,281,443.48		394,568,729.90
Extranjero		250,848,175.13		7.21		3,479,355,318.34		3,359,260,301.18		3,493,942,547.55		3,376,494,824.39		3,542,222,722.64
Menos Provisiones		117,561.12		0.17		69,643,190.96		69,881,479.11		69,881,479.11		69,872,105.49		69,872,453.64
Locales		-94,460.71		-6.13		1,540,276.12		1,540,276.12		1,540,276.12		1,540,276.12		1,540,276.12
Extranjero		212,021.83		0.31		68,102,914.84		68,341,202.99		68,341,202.99		68,331,829.37		68,332,177.52
INVERSIONES EN VALORES		297,233,758.08		51.67		575,308,868.73		720,927,339.13		752,313,401.97		802,295,101.08		879,029,360.69
Locales		4,497,917.46		6.23		72,196,000.00		72,611,200.00		78,024,276.58		78,098,235.64		78,001,617.06
Extranjero		292,735,840.62		58.18		503,112,868.73		648,316,139.13		674,289,125.39		724,196,865.44		801,027,743.63
Menos Provisiones		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Locales		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Extranjero		0.00		0.00		0.00		0.00		0.00		0.00		0.00
OTROS ACTIVOS		28,863,353.81		31.72		90,992,888.72		107,647,561.41		108,664,901.06		109,454,265.51		79,599,768.90
Locales		2,017,511.80		47.20		4,274,653.41		3,776,255.93		4,822,408.82		4,493,961.80		6,599,230.09
Extranjero		26,845,842.01		30.96		86,718,235.31		103,871,305.48		103,842,492.24		104,960,303.71		73,000,538.81
TOTAL DE ACTIVOS		646,308,849.54		13.66		4,729,824,236.95		4,671,601,153.23		4,948,755,853.39		5,104,237,311.82		5,162,703,305.88
DEPOSITOS		223,982,886.32		14.80		1,513,036,584.54		1,311,034,546.15		1,437,684,538.56		1,423,205,733.93		1,559,535,216.31
Locales		-71,232,889.11		-31.56		225,714,906.79		218,952,787.47		246,914,642.04		184,800,521.54		250,159,467.73
Oficiales		0.00		0.00		0.00		0.00		0.00		0.00		0.00
De Particulares		0.00		0.00		0.00		0.00		1,400,838.44		0.00		0.00
A la Vista		0.00		0.00		0.00		0.00		0.00		0.00		0.00
A Plazo		0.00		0.00		0.00		0.00		1,400,838.44		0.00		0.00
De Ahorros		0.00		0.00		0.00		0.00		0.00		0.00		0.00
De Bancos		-71,232,889.11		-31.56		225,714,906.79		218,952,787.47		245,513,803.60		184,800,521.54		250,159,467.73
A la Vista		-19,984,659.73		-85.25		23,441,831.87		22,583,638.33		17,629,784.93		13,046,533.96		11,162,032.63
A Plazo		-51,248,229.38		-25.34		202,273,074.92		196,369,149.14		227,884,018.67		171,753,987.58		238,997,435.10
Extranjero		295,215,775.43		22.93		1,287,321,677.75		1,092,081,758.68		1,190,769,896.52		1,238,405,212.39		1,309,375,748.58
Oficiales		0.00		0.00		0.00		0.00		0.00		0.00		0.00
De Particulares		15,587,313.01		37.43		41,644,075.95		51,474,906.67		46,727,501.29		12,455,066.51		65,565,271.04
A la Vista		740,086.66		50.55		1,464,075.95		1,474,906.67		2,727,501.29		3,441,152.62		6,535,806.67
A Plazo		14,847,226.35		36.95		40,180,000.00		50,000,000.00		44,000,000.00		9,013,913.89		59,029,464.37
De Ahorros		0.00		0.00		0.00		0.00		0.00		0.00		0.00
De Bancos		279,628,462.42		22.45		1,245,677,601.80		1,040,606,852.01		1,144,042,395.23		1,225,950,145.88		1,243,810,477.54
A la Vista		11,569,729.83		13.30		86,983,250.05		94,067,907.24		104,019,526.16		78,317,765.09		37,444,518.18
A Plazo		268,058,732.59		23.13		1,158,694,351.75		946,538,944.77		1,040,022,869.07		1,147,632,380.79		1,206,365,959.36
OBLIGACIONES		375,292,725.64		14.92		2,515,038,597.04		2,646,362,875.95		2,787,614,144.91		2,952,332,271.03		2,902,534,161.46
Locales		0.00		0.00		40,000,000.00		40,000,000.00		50,000,000.00		50,000,126.79		50,000,000.00
Extranjero		375,292,725.64		15.16		2,475,038,597.04		2,606,362,875.95		2,737,614,144.91		2,902,332,144.24		2,852,534,161.46
OTROS PASIVOS		29,252,051.35		26.23		111,537,872.66		132,364,806.35		134,356,889.45		147,344,908.68		98,317,207.28
Locales		8,038,102.47		148.00		5,431,130.73		4,769,284.35		3,269,484.25		2,468,745.74		11,591,562.43
Extranjero		21,213,948.88		19.99		106,106,741.93		127,595,522.00		131,087,405.20		144,876,162.94		86,725,644.85
PATRIMONIO		17,781,186.20		3.01		590,211,182.74		581,838,924.86		589,100,280.61		581,354,398.29		602,316,720.95
Capital		644,275.32		0.23		281,334,661.62		281,418,007.88		281,495,976.96		281,612,180.17		281,778,127.62
Reservas de Capital		0.00		0.00		95,210,153.67		95,210,153.67		95,210,153.67		95,210,153.67		95,210,153.67
Otras Reservas		-1,221,588.00		60.79		-2,009,630.66		-3,992,368.66		-2,735,809.66		-3,981,842.66		-3,232,388.66
Utilidad de Periodos Anteriores		31,318,452.62		17.91		174,894,542.39		223,306,964.95		223,306,964.95		215,305,532.21		215,305,532.21
Utilidad de Periodo		-18,065,086.21		-37.31		48,412,430.48		4,793,662.04		8,998,568.04		14,168,698.56		18,196,171.43
Ganancia o Perdida en Valores Disponible para la venta		5,105,132.47		-66.90		-7,630,974.76		-18,897,495.02		-17,175,573.35		-20,960,323.66		-4,940,875.32
Deuda Subordinada		0.00		0.00		0.00		0.00		0.00		0.00		0.00
PASIVO Y PATRIMONIO		646,308,849.51		13.66		4,729,824,236.98		4,671,601,153.31		4,948,755,853.53		5,104,237,311.93		5,162,703,306.00

BANCO LATINOAMERICANO DE EXPORTACIONES

BALANCE DE SITUACIÓN DE DICIEMBRE 2007 Y ENERO - JUNIO 2008

(En Balboas)

11 de Agosto de 2008

	2008
Descripción	Mayo		Junio		Julio		Agosto		Septiembre		Octubre		Noviembre		Diciembre
ACTIVOS LIQUIDOS		336,767,457.10		348,888,538.19		0.00		0.00		0.00		0.00		0.00		0.00
Depositos Locales en Bancos		206,238.55		165,920.03		0.00		0.00		0.00		0.00		0.00		0.00
A la Vista		206,238.55		165,920.03		0.00		0.00		0.00		0.00		0.00		0.00
A Plazo		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Depositos Extranjeros en Bancos		336,554,858.90		348,717,340.66		0.00		0.00		0.00		0.00		0.00		0.00
A la Vista		18,354,858.90		14,817,340.66		0.00		0.00		0.00		0.00		0.00		0.00
A Plazo		318,200,000.00		333,900,000.00		0.00		0.00		0.00		0.00		0.00		0.00
Menos Provisiones		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Locales		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Extranjero		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Otros		6,359.65		5,277.50		0.00		0.00		0.00		0.00		0.00		0.00
CARTERA CREDITICIA		4,027,295,445.25		4,034,845,678.96		0.00		0.00		0.00		0.00		0.00		0.00
Locales		377,524,734.90		374,402,937.57		0.00		0.00		0.00		0.00		0.00		0.00
Extranjero		3,720,115,663.99		3,730,203,493.47		0.00		0.00		0.00		0.00		0.00		0.00
Menos Provisiones		70,344,953.64		69,760,752.08		0.00		0.00		0.00		0.00		0.00		0.00
Locales		1,540,276.12		1,445,815.41		0.00		0.00		0.00		0.00		0.00		0.00
Extranjero		68,804,677.52		68,314,936.67		0.00		0.00		0.00		0.00		0.00		0.00
INVERSIONES EN VALORES		919,509,561.07		872,542,626.81		0.00		0.00		0.00		0.00		0.00		0.00
Locales		77,805,900.00		76,693,917.46		0.00		0.00		0.00		0.00		0.00		0.00
Extranjero		841,703,661.07		795,848,709.35		0.00		0.00		0.00		0.00		0.00		0.00
Menos Provisiones		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Locales		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Extranjero		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
OTROS ACTIVOS		122,065,321.83		119,856,242.53		0.00		0.00		0.00		0.00		0.00		0.00
Locales		6,329,473.83		6,292,165.21		0.00		0.00		0.00		0.00		0.00		0.00
Extranjero		115,735,848.00		113,564,077.32		0.00		0.00		0.00		0.00		0.00		0.00
TOTAL DE ACTIVOS		5,405,637,785.25		5,376,133,086.49		0.00		0.00		0.00		0.00		0.00		0.00
DEPOSITOS		1,696,862,977.95		1,737,019,470.86		0.00		0.00		0.00		0.00		0.00		0.00
Locales		198,473,054.30		154,482,017.68		0.00		0.00		0.00		0.00		0.00		0.00
Oficiales		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
De Particulares		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
A la Vista		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
A Plazo		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
De Ahorros		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
De Bancos		198,473,054.30		154,482,017.68		0.00		0.00		0.00		0.00		0.00		0.00
A la Vista		3,465,682.55		3,457,172.14		0.00		0.00		0.00		0.00		0.00		0.00
A Plazo		195,007,371.75		151,024,845.54		0.00		0.00		0.00		0.00		0.00		0.00
Extranjero		1,498,389,923.65		1,582,537,453.18		0.00		0.00		0.00		0.00		0.00		0.00
Oficiales		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
De Particulares		56,743,505.02		57,231,388.96		0.00		0.00		0.00		0.00		0.00		0.00
A la Vista		1,716,278.67		2,204,162.61		0.00		0.00		0.00		0.00		0.00		0.00
A Plazo		55,027,226.35		55,027,226.35		0.00		0.00		0.00		0.00		0.00		0.00
De Ahorros		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
De Bancos		1,441,646,418.63		1,525,306,064.22		0.00		0.00		0.00		0.00		0.00		0.00
A la Vista		48,574,467.01		98,552,979.88		0.00		0.00		0.00		0.00		0.00		0.00
A Plazo		1,393,071,951.62		1,426,753,084.34		0.00		0.00		0.00		0.00		0.00		0.00
OBLIGACIONES		2,957,623,261.78		2,890,331,322.68		0.00		0.00		0.00		0.00		0.00		0.00
Locales		50,000,000.00		40,000,000.00		0.00		0.00		0.00		0.00		0.00		0.00
Extranjero		2,907,623,261.78		2,850,331,322.68		0.00		0.00		0.00		0.00		0.00		0.00
OTROS PASIVOS		131,949,109.68		140,789,924.01		0.00		0.00		0.00		0.00		0.00		0.00
Locales		15,822,145.54		13,469,233.20		0.00		0.00		0.00		0.00		0.00		0.00
Extranjero		116,126,964.14		127,320,690.81		0.00		0.00		0.00		0.00		0.00		0.00
PATRIMONIO		619,202,435.86		607,992,368.94		0.00		0.00		0.00		0.00		0.00		0.00
Capital		281,874,453.37		281,978,936.94		0.00		0.00		0.00		0.00		0.00		0.00
Reservas de Capital		95,210,153.67		95,210,153.67		0.00		0.00		0.00		0.00		0.00		0.00
Otras Reservas		-1,697,897.66		-3,231,218.66		0.00		0.00		0.00		0.00		0.00		0.00
Utilidad de Periodos Anteriores		215,305,532.21		206,212,995.01		0.00		0.00		0.00		0.00		0.00		0.00
Utilidad de Periodo		22,898,759.63		30,347,344.27		0.00		0.00		0.00		0.00		0.00		0.00
Ganancia o Perdida en Valores Disponible para la venta		5,611,434.64		-2,525,842.29		0.00		0.00		0.00		0.00		0.00		0.00
Deuda Subordinada		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
PASIVO Y PATRIMONIO		5,405,637,785.27		5,376,133,086.49		0.00		0.00		0.00		0.00		0.00		0.00

ESTADO DE RESULTADO

BANCO LATINOAMERICANO DE EXPORTACIONES, S.A.

ENERO - JUNIO 2008

(En Balboas)

11 de Agosto de 2008

Descripcion	Enero		Febrero		Marzo		Trimestre I		Abril		Mayo		Junio		Trimestre II

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

ESTADO DE RESULTADO

BANCO LATINOAMERICANO DE EXPORTACIONES, S.A.

ENERO - JUNIO 2008

(En Balboas)

11 de Agosto de 2008

Descripcion	Julio		Agosto		Septiembre		Trimestre III		Octubre		Noviembre		Diciembre		Trimestre IV		Acumulado Anual

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

BANCO LATINOAMERICANO DE EXPORTACIONES

BALANCE SHEETS* DECEMBER 2007 AND JANUARY - JUNE 2008

(In Balboas)**

August 11, 2008

					2007		2008
Description	Absolute		%		December		January		February		March		April
LIQUID ASSETS		-52,439,247.44		-13.07		401,327,785.63		294,054,753.39		403,828,804.69		487,583,782.85		337,155,177.39
Local Deposits in Banks		-119,834.51		-41.94		285,754.54		233,625.57		225,027.61		257,527.62		256,156.02
Demand		-119,834.51		-41.94		285,754.54		233,625.57		225,027.61		257,527.62		256,156.02
Time		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Foreign Deposits in Banks		-52,318,998.40		-13.05		401,036,339.06		293,816,988.13		403,599,292.09		487,320,706.18		336,892,774.62
Demand		13,381,001.60		931.60		1,436,339.06		6,216,988.13		5,099,292.09		3,720,706.18		5,592,774.62
Time		-65,700,000.00		-16.44		399,600,000.00		287,600,000.00		398,500,000.00		483,600,000.00		331,300,000.00
Less Allowance		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Local		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Foreign		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Others		-414.53		-7.28		5,692.03		4,139.69		4,484.99		5,549.05		6,246.75
CREDIT PORTFOLIO		372,650,985.09		10.18		3,662,194,693.87		3,548,971,499.30		3,683,948,745.67		3,704,904,162.38		3,866,918,998.90
Local		121,920,371.08		48.29		252,482,566.49		259,592,677.23		259,887,677.23		398,281,443.48		394,568,729.90
Foreign		250,848,175.13		7.21		3,479,355,318.34		3,359,260,301.18		3,493,942,547.55		3,376,494,824.39		3,542,222,722.64
Less Allowance		117,561.12		0.17		69,643,190.96		69,881,479.11		69,881,479.11		69,872,105.49		69,872,453.64
Local		-94,460.71		-6.13		1,540,276.12		1,540,276.12		1,540,276.12		1,540,276.12		1,540,276.12
Foreign		212,021.83		0.31		68,102,914.84		68,341,202.99		68,341,202.99		68,331,829.37		68,332,177.52
INVESTMENT SECURITIES		297,233,758.08		51.67		575,308,868.73		720,927,339.13		752,313,401.97		802,295,101.08		879,029,360.69
Local		4,497,917.46		6.23		72,196,000.00		72,611,200.00		78,024,276.58		78,098,235.64		78,001,617.06
Foreign		292,735,840.62		58.18		503,112,868.73		648,316,139.13		674,289,125.39		724,196,865.44		801,027,743.63
Less Allowance		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Local		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Foreign		0.00		0.00		0.00		0.00		0.00		0.00		0.00
OTHER ASSETS		28,863,353.81		31.72		90,992,888.72		107,647,561.41		108,664,901.06		109,454,265.51		79,599,768.90
Local		2,017,511.80		47.20		4,274,653.41		3,776,255.93		4,822,408.82		4,493,961.80		6,599,230.09
Foreign		26,845,842.01		30.96		86,718,235.31		103,871,305.48		103,842,492.24		104,960,303.71		73,000,538.81
TOTAL ASSETS		646,308,849.54		13.66		4,729,824,236.95		4,671,601,153.23		4,948,755,853.39		5,104,237,311.82		5,162,703,305.88
DEPOSITS		223,982,886.32		14.80		1,513,036,584.54		1,311,034,546.15		1,437,684,538.56		1,423,205,733.93		1,559,535,216.31
Local		-71,232,889.11		-31.56		225,714,906.79		218,952,787.47		246,914,642.04		184,800,521.54		250,159,467.73
Government		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Customers		0.00		0.00		0.00		0.00		1,400,838.44		0.00		0.00
Demand		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Time		0.00		0.00		0.00		0.00		1,400,838.44		0.00		0.00
Savings		0.00		0.00		0.00		0.00		0.00		0.00		0.00
From Banks		-71,232,889.11		-31.56		225,714,906.79		218,952,787.47		245,513,803.60		184,800,521.54		250,159,467.73
Demand		-19,984,659.73		-85.25		23,441,831.87		22,583,638.33		17,629,784.93		13,046,533.96		11,162,032.63
Time		-51,248,229.38		-25.34		202,273,074.92		196,369,149.14		227,884,018.67		171,753,987.58		238,997,435.10
Foreign		295,215,775.43		22.93		1,287,321,677.75		1,092,081,758.68		1,190,769,896.52		1,238,405,212.39		1,309,375,748.58
Government		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Customers		15,587,313.01		37.43		41,644,075.95		51,474,906.67		46,727,501.29		12,455,066.51		65,565,271.04
Demand		740,086.66		50.55		1,464,075.95		1,474,906.67		2,727,501.29		3,441,152.62		6,535,806.67
Time		14,847,226.35		36.95		40,180,000.00		50,000,000.00		44,000,000.00		9,013,913.89		59,029,464.37
Savings		0.00		0.00		0.00		0.00		0.00		0.00		0.00
From Banks		279,628,462.42		22.45		1,245,677,601.80		1,040,606,852.01		1,144,042,395.23		1,225,950,145.88		1,243,810,477.54
Demand		11,569,729.83		13.30		86,983,250.05		94,067,907.24		104,019,526.16		78,317,765.09		37,444,518.18
Time		268,058,732.59		23.13		1,158,694,351.75		946,538,944.77		1,040,022,869.07		1,147,632,380.79		1,206,365,959.36
BORROWINGS		375,292,725.64		14.92		2,515,038,597.04		2,646,362,875.95		2,787,614,144.91		2,952,332,271.03		2,902,534,161.46
Local		0.00		0.00		40,000,000.00		40,000,000.00		50,000,000.00		50,000,126.79		50,000,000.00
Foreign		375,292,725.64		15.16		2,475,038,597.04		2,606,362,875.95		2,737,614,144.91		2,902,332,144.24		2,852,534,161.46
OTHER LIABILITIES		29,252,051.35		26.23		111,537,872.66		132,364,806.35		134,356,889.45		147,344,908.68		98,317,207.28
Local		8,038,102.47		148.00		5,431,130.73		4,769,284.35		3,269,484.25		2,468,745.74		11,591,562.43
Foreign		21,213,948.88		19.99		106,106,741.93		127,595,522.00		131,087,405.20		144,876,162.94		86,725,644.85
STOCKHOLDERS´ EQUITY		17,781,186.20		3.01		590,211,182.74		581,838,924.86		589,100,280.61		581,354,398.29		602,316,720.95
Capital		644,275.32		0.23		281,334,661.62		281,418,007.88		281,495,976.96		281,612,180.17		281,778,127.62
Capital Reserves		0.00		0.00		95,210,153.67		95,210,153.67		95,210,153.67		95,210,153.67		95,210,153.67
Other Reserves		-1,221,588.00		60.79		-2,009,630.66		-3,992,368.66		-2,735,809.66		-3,981,842.66		-3,232,388.66
Retained Earnings		31,318,452.62		17.91		174,894,542.39		223,306,964.95		223,306,964.95		215,305,532.21		215,305,532.21
Net Income		-18,065,086.21		-37.31		48,412,430.48		4,793,662.04		8,998,568.04		14,168,698.56		18,196,171.43
Gain or Loss in Securities available for sale		5,105,132.47		-66.90		-7,630,974.76		-18,897,495.02		-17,175,573.35		-20,960,323.66		-4,940,875.32
Subordinated Debt		0.00		0.00		0.00		0.00		0.00		0.00		0.00
LIABILITIES AND STOCKHOLDER'S EQUITY		646,308,849.51		13.66		4,729,824,236.98		4,671,601,153.31		4,948,755,853.53		5,104,237,311.93		5,162,703,306.00

* Includes only Panama - New York accounts.

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

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

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

BANCO LATINOAMERICANO DE EXPORTACIONES

BALANCE SHEETS* DECEMBER 2007 AND JANUARY - JUNE 2008

(In Balboas)**

August 11, 2008

	2008
Description	May		June		July		August		September		October		November		December
LIQUID ASSETS		336,767,457.10		348,888,538.19		0.00		0.00		0.00		0.00		0.00		0.00
Local Deposits in Banks		206,238.55		165,920.03		0.00		0.00		0.00		0.00		0.00		0.00
Demand		206,238.55		165,920.03		0.00		0.00		0.00		0.00		0.00		0.00
Time		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Foreign Deposits in Banks		336,554,858.90		348,717,340.66		0.00		0.00		0.00		0.00		0.00		0.00
Demand		18,354,858.90		14,817,340.66		0.00		0.00		0.00		0.00		0.00		0.00
Time		318,200,000.00		333,900,000.00		0.00		0.00		0.00		0.00		0.00		0.00
Less Allowance		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Local		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Foreign		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Others		6,359.65		5,277.50		0.00		0.00		0.00		0.00		0.00		0.00
CREDIT PORTFOLIO		4,027,295,445.25		4,034,845,678.96		0.00		0.00		0.00		0.00		0.00		0.00
Local		377,524,734.90		374,402,937.57		0.00		0.00		0.00		0.00		0.00		0.00
Foreign		3,720,115,663.99		3,730,203,493.47		0.00		0.00		0.00		0.00		0.00		0.00
Less Allowance		70,344,953.64		69,760,752.08		0.00		0.00		0.00		0.00		0.00		0.00
Local		1,540,276.12		1,445,815.41		0.00		0.00		0.00		0.00		0.00		0.00
Foreign		68,804,677.52		68,314,936.67		0.00		0.00		0.00		0.00		0.00		0.00
INVESTMENT SECURITIES		919,509,561.07		872,542,626.81		0.00		0.00		0.00		0.00		0.00		0.00
Local		77,805,900.00		76,693,917.46		0.00		0.00		0.00		0.00		0.00		0.00
Foreign		841,703,661.07		795,848,709.35		0.00		0.00		0.00		0.00		0.00		0.00
Less Allowance		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Local		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Foreign		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
OTHER ASSETS		122,065,321.83		119,856,242.53		0.00		0.00		0.00		0.00		0.00		0.00
Local		6,329,473.83		6,292,165.21		0.00		0.00		0.00		0.00		0.00		0.00
Foreign		115,735,848.00		113,564,077.32		0.00		0.00		0.00		0.00		0.00		0.00
TOTAL ASSETS		5,405,637,785.25		5,376,133,086.49		0.00		0.00		0.00		0.00		0.00		0.00
DEPOSITS		1,696,862,977.95		1,737,019,470.86		0.00		0.00		0.00		0.00		0.00		0.00
Local		198,473,054.30		154,482,017.68		0.00		0.00		0.00		0.00		0.00		0.00
Government		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Customers		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Demand		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Time		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Savings		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
From Banks		198,473,054.30		154,482,017.68		0.00		0.00		0.00		0.00		0.00		0.00
Demand		3,465,682.55		3,457,172.14		0.00		0.00		0.00		0.00		0.00		0.00
Time		195,007,371.75		151,024,845.54		0.00		0.00		0.00		0.00		0.00		0.00
Foreign		1,498,389,923.65		1,582,537,453.18		0.00		0.00		0.00		0.00		0.00		0.00
Government		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Customers		56,743,505.02		57,231,388.96		0.00		0.00		0.00		0.00		0.00		0.00
Demand		1,716,278.67		2,204,162.61		0.00		0.00		0.00		0.00		0.00		0.00
Time		55,027,226.35		55,027,226.35		0.00		0.00		0.00		0.00		0.00		0.00
Savings		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
From Banks		1,441,646,418.63		1,525,306,064.22		0.00		0.00		0.00		0.00		0.00		0.00
Demand		48,574,467.01		98,552,979.88		0.00		0.00		0.00		0.00		0.00		0.00
Time		1,393,071,951.62		1,426,753,084.34		0.00		0.00		0.00		0.00		0.00		0.00
BORROWINGS		2,957,623,261.78		2,890,331,322.68		0.00		0.00		0.00		0.00		0.00		0.00
Local		50,000,000.00		40,000,000.00		0.00		0.00		0.00		0.00		0.00		0.00
Foreign		2,907,623,261.78		2,850,331,322.68		0.00		0.00		0.00		0.00		0.00		0.00
OTHER LIABILITIES		131,949,109.68		140,789,924.01		0.00		0.00		0.00		0.00		0.00		0.00
Local		15,822,145.54		13,469,233.20		0.00		0.00		0.00		0.00		0.00		0.00
Foreign		116,126,964.14		127,320,690.81		0.00		0.00		0.00		0.00		0.00		0.00
STOCKHOLDERS´ EQUITY		619,202,435.86		607,992,368.94		0.00		0.00		0.00		0.00		0.00		0.00
Capital		281,874,453.37		281,978,936.94		0.00		0.00		0.00		0.00		0.00		0.00
Capital Reserves		95,210,153.67		95,210,153.67		0.00		0.00		0.00		0.00		0.00		0.00
Other Reserves		-1,697,897.66		-3,231,218.66		0.00		0.00		0.00		0.00		0.00		0.00
Retained Earnings		215,305,532.21		206,212,995.01		0.00		0.00		0.00		0.00		0.00		0.00
Net Income		22,898,759.63		30,347,344.27		0.00		0.00		0.00		0.00		0.00		0.00
Gain or Loss in Securities available for sale		5,611,434.64		-2,525,842.29		0.00		0.00		0.00		0.00		0.00		0.00
Subordinated Debt		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
LIABILITIES AND STOCKHOLDER'S EQUITY		5,405,637,785.27		5,376,133,086.49		0.00		0.00		0.00		0.00		0.00		0.00

* Includes only Panama - New York accounts.

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

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

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

STATEMENTS OF INCOME *

BANCO LATINOAMERICANO DE EXPORTACIONES, S.A.

JANUARY - JUNE 2008

(In Balboas)**

August 11, 2008

Description	January		February		March		I Quarter		April		May		June		II Quarter

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

* Includes only Panama - New York accounts.

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

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

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

STATEMENTS OF INCOME *

BANCO LATINOAMERICANO DE EXPORTACIONES, S.A.

JANUARY - JUNE 2008

(In Balboas)**

August 11, 2008

Description	July		August		September		III Quarter		October		November		December		IV Quarter		Year to date

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

* Includes only Panama - New York accounts.

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

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

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