Edgar Filing: FOREIGN TRADE BANK OF LATIN AMERICA, INC.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

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

SECURITIES EXCHANGE ACT OF 1934

For the month of March, 2011

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.

March 15th, 2011

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.

	18 de febrero de 2011
	BALANCE DE SITUACION
	BANCO LATINOAMERICANO DE COMERCIO EXTERIOR, S.A.
	DE DICIEMBRE 2009 A DICIEMBRE 2010
	(En Miles de Balboas) *

					2009		2010
	Variación Absoluta		%		Diciembre		Enero		Febrero		Marzo		Abril
ACTIVOS LIQUIDOS		11,896.01		2.80		424,385.05		374,588.34		362,034.09		348,592.24		375,824.51
Depositos Locales en Bancos		218.11		805.02		27.09		39.99		255.66		175.37		33.65
A la Vista		218.11		805.02		27.09		39.99		255.66		175.37		33.65
A Plazo		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Depositos Extranjeros en Bancos		11,678.54		2.75		424,346.48		374,539.75		361,765.37		348,402.26		375,762.21
A la Vista		81,678.54		39.97		204,346.48		148,139.75		202,865.37		178,702.26		205,762.21
A Plazo		-70,000.00		-31.82		220,000.00		226,400.00		158,900.00		169,700.00		170,000.00
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		-0.64		-5.62		11.48		8.60		13.06		14.61		28.65
CARTERA CREDITICIA		1,280,243.06		47.32		2,705,473.12		2,643,212.60		2,729,005.31		2,861,502.24		2,914,351.79
Locales		201,493.28		353.55		56,992.09		60,921.15		60,849.78		75,973.50		100,901.71
Extranjero		1,086,706.39		39.92		2,722,269.86		2,656,078.69		2,742,243.44		2,859,465.51		2,890,516.58
Menos Provisiones		7,956.62		10.78		73,788.83		73,787.24		74,087.91		73,936.77		77,066.49
Locales		1,193.47		93.26		1,279.69		1,279.69		1,279.69		1,522.31		1,522.31
Extranjero		6,763.14		9.33		72,509.14		72,507.55		72,808.22		72,414.46		75,544.18
INVERSIONES EN VALORES		-70,561.50		-11.49		614,353.92		613,396.08		616,501.74		615,159.60		615,035.76
Locales		10,693.82		24.43		43,776.00		43,586.00		43,960.00		43,572.00		43,708.00
Extranjero		-81,255.32		-14.24		570,577.92		569,810.08		572,541.74		571,587.60		571,327.76
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		30,009.67		62.70		47,859.85		47,659.41		50,759.94		41,892.90		48,373.56
Locales		10,056.80		269.86		3,726.64		4,053.24		4,311.42		466.14		3,977.44
Extranjero		19,952.87		45.21		44,133.21		43,606.17		46,448.52		41,426.76		44,396.12
TOTAL DE ACTIVOS		1,251,587.24		33.01		3,792,071.95		3,678,856.42		3,758,301.07		3,867,146.98		3,953,585.61
DEPOSITOS		565,117.86		44.96		1,256,977.97		1,270,196.08		1,355,586.12		1,356,077.64		1,332,000.26
Locales		149,128.95		136.97		108,876.22		150,861.68		142,864.13		161,372.18		123,432.86
Oficiales		0.00		0.00		0.00		0.00		0.00		0.00		0.00
De Particulares		40,000.00		0.00		0.00		39,000.00		39,000.00		39,000.00		27,000.00
A la Vista		0.00		0.00		0.00		0.00		0.00		0.00		0.00
A Plazo		40,000.00		0.00		0.00		39,000.00		39,000.00		39,000.00		27,000.00
De Ahorros		0.00		0.00		0.00		0.00		0.00		0.00		0.00
De Bancos		109,128.95		100.23		108,876.22		111,861.68		103,864.13		122,372.18		96,432.86
A la Vista		61.91		20.75		298.32		298.32		297.76		297.29		354.64
A Plazo		109,067.03		100.45		108,577.90		111,563.37		103,566.36		122,074.90		96,078.22
Extranjero		415,988.91		36.23		1,148,101.75		1,119,334.40		1,212,722.00		1,194,705.45		1,208,567.40
Oficiales		0.00		0.00		0.00		0.00		0.00		0.00		0.00
De Particulares		-14,216.40		-77.50		18,343.29		2,365.51		2,180.82		2,317.37		2,234.44
A la Vista		-1,178.20		-45.05		2,615.55		1,637.77		1,452.74		1,589.29		1,506.37
A Plazo		-13,038.20		-82.90		15,727.74		727.74		728.08		728.08		728.08
De Ahorros		0.00		0.00		0.00		0.00		0.00		0.00		0.00
De Bancos		430,205.31		38.08		1,129,758.45		1,116,968.89		1,210,541.18		1,192,388.09		1,206,332.95
A la Vista		50,532.68		102.72		49,193.30		39,660.25		44,172.37		35,748.27		34,163.06
A Plazo		379,672.63		35.14		1,080,565.15		1,077,308.64		1,166,368.81		1,156,639.82		1,172,169.89
OBLIGACIONES		646,734.34		36.08		1,792,670.97		1,662,213.88		1,664,236.27		1,775,274.07		1,883,387.61
Locales		0.00		0.00		0.00		0.00		0.00		102.17		0.00
Extranjero		646,734.34		36.08		1,792,670.97		1,662,213.88		1,664,236.27		1,775,171.91		1,883,387.61
OTROS PASIVOS		3,221.39		2.63		122,625.36		129,561.54		121,811.46		109,946.01		111,682.39
Locales		-3,928.52		-37.23		10,552.15		13,964.05		9,040.63		9,379.45		9,007.22
Extranjero		7,149.91		6.38		112,073.21		115,597.49		112,770.83		100,566.56		102,675.17
PATRIMONIO		36,513.65		5.89		619,797.64		616,884.91		616,667.23		625,849.26		626,515.36
Capital		2,930.55		1.03		285,198.77		285,340.34		285,484.56		285,959.89		286,428.79
Reservas de Capital		0.00		0.00		95,210.15		95,210.15		95,210.15		95,210.15		95,210.15
Otras Reservas		218.66		-7.50		-2,916.04		-3,540.36		-3,455.61		-3,658.56		-3,566.67
Utilidad de Periodos Anteriores		14,880.94		7.18		207,188.27		245,548.79		240,066.95		240,060.46		240,051.38
Utilidad de Periodo		18,983.87		49.49		38,360.52		2,932.30		4,432.91		10,934.82		11,626.04
Ganancia o Perdida en Valores Disponible para la venta		-500.37		15.42		-3,244.03		-8,606.32		-5,071.75		-2,657.50		-3,234.33
Deuda Subordinada		0.00		0.00		0.00		0.00		0.00		0.00		0.00
PASIVO Y PATRIMONIO		1,251,587.24		33.01		3,792,071.95		3,678,856.42		3,758,301.08		3,867,146.98		3,953,585.61

*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).

	18 de febrero de 2011
	BALANCE DE SITUACION
	BANCO LATINOAMERICANO DE COMERCIO EXTERIOR, S.A.
	DE DICIEMBRE 2009 A DICIEMBRE 2010
	(En Miles de Balboas) *

	2010
	Mayo		Junio		Julio		Agosto		Septiembre		Octubre		Noviembre		Diciembre
ACTIVOS LIQUIDOS		572,159.88		619,425.09		335,306.79		294,882.99		362,672.90		375,111.55		174,228.63		436,281.06
Depositos Locales en Bancos		152.32		202.70		481.46		255.27		242.93		239.96		278.90		245.21
A la Vista		152.32		202.70		481.46		255.27		242.93		239.96		278.90		245.21
A Plazo		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Depositos Extranjeros en Bancos		571,996.54		619,210.73		334,814.89		294,621.50		362,420.77		374,860.65		173,930.10		436,025.02
A la Vista		324,796.54		329,210.73		248,414.89		184,621.50		220,320.77		226,060.65		145,330.10		286,025.02
A Plazo		247,200.00		290,000.00		86,400.00		110,000.00		142,100.00		148,800.00		28,600.00		150,000.00
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		11.03		11.66		10.43		6.22		9.20		10.95		19.63		10.83
CARTERA CREDITICIA		2,854,379.53		3,018,457.38		3,244,234.23		3,606,937.78		3,677,931.18		3,749,315.04		4,032,765.85		3,985,716.18
Locales		100,201.71		155,660.79		220,059.25		235,504.83		271,512.44		240,297.60		245,387.22		258,485.38
Extranjero		2,828,883.65		2,944,065.73		3,104,641.73		3,451,899.70		3,475,118.01		3,577,727.76		3,856,088.94		3,808,976.25
Menos Provisiones		74,705.83		81,269.14		80,466.75		80,466.75		68,699.27		68,710.31		68,710.31		81,745.45
Locales		1,522.31		1,954.30		2,952.85		3,468.02		2,985.95		2,413.09		2,331.91		2,473.16
Extranjero		73,183.52		79,314.85		77,513.90		76,998.73		65,713.32		66,297.22		66,378.40		79,272.29
INVERSIONES EN VALORES		625,690.35		627,539.59		656,454.22		662,746.58		704,331.98		628,305.93		557,033.50		543,792.42
Locales		43,670.00		43,740.00		44,056.00		49,660.25		80,972.00		95,561.28		67,560.00		54,469.82
Extranjero		582,020.35		583,799.59		612,398.22		613,086.33		623,359.98		532,744.65		489,473.50		489,322.60
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		77,017.60		64,458.57		45,281.45		51,959.11		45,674.33		51,111.38		74,931.13		77,869.52
Locales		4,563.09		4,539.20		14,007.47		15,956.98		14,953.73		15,623.52		14,132.99		13,783.44
Extranjero		72,454.52		59,919.37		31,273.98		36,002.13		30,720.60		35,487.86		60,798.14		64,086.08
TOTAL DE ACTIVOS		4,129,247.37		4,329,880.62		4,281,276.68		4,616,526.45		4,790,610.39		4,803,843.91		4,838,959.12		5,043,659.18
DEPOSITOS		1,428,696.25		1,507,917.33		1,554,746.33		1,745,200.77		1,861,484.09		1,967,127.26		1,829,335.07		1,822,095.82
Locales		128,409.55		187,100.69		221,610.11		245,920.11		288,931.45		267,012.59		311,550.71		258,005.17
Oficiales		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
De Particulares		41,000.00		31,000.00		23,000.00		23,000.00		30,000.00		16,000.00		40,000.00		40,000.00
A la Vista		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
A Plazo		41,000.00		31,000.00		23,000.00		23,000.00		30,000.00		16,000.00		40,000.00		40,000.00
De Ahorros		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
De Bancos		87,409.55		156,100.69		198,610.11		222,920.11		258,931.45		251,012.59		271,550.71		218,005.17
A la Vista		331.62		331.55		331.55		331.55		331.55		401.11		407.60		360.23
A Plazo		87,077.93		155,769.14		198,278.57		222,588.57		258,599.90		250,611.47		271,143.11		217,644.94
Extranjero		1,300,286.70		1,320,816.64		1,333,136.22		1,499,280.65		1,572,552.65		1,700,114.67		1,517,784.36		1,564,090.66
Oficiales		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
De Particulares		2,737.33		2,416.41		12,208.30		12,722.20		12,234.84		4,253.17		4,281.36		4,126.89
A la Vista		2,008.94		1,688.02		1,529.90		2,043.19		1,555.84		1,564.07		1,591.82		1,437.35
A Plazo		728.40		728.40		10,678.40		10,679.00		10,679.00		2,689.10		2,689.54		2,689.54
De Ahorros		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
De Bancos		1,297,549.37		1,318,400.23		1,320,927.92		1,486,558.46		1,560,317.81		1,695,861.51		1,513,503.00		1,559,963.77
A la Vista		23,005.47		21,928.34		28,442.30		28,375.73		28,199.74		56,011.77		37,850.75		99,725.99
A Plazo		1,274,543.90		1,296,471.89		1,292,485.62		1,458,182.72		1,532,118.07		1,639,849.74		1,475,652.26		1,460,237.78
OBLIGACIONES		1,932,052.74		2,053,677.81		1,976,830.99		2,114,752.18		2,161,409.86		2,073,299.55		2,222,353.45		2,439,405.32
Locales		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Extranjero		1,932,052.74		2,053,677.81		1,976,830.99		2,114,752.18		2,161,409.86		2,073,299.55		2,222,353.45		2,439,405.32
OTROS PASIVOS		140,556.91		141,474.82		114,312.30		115,861.50		127,694.19		120,925.07		130,648.49		125,846.75
Locales		4,061.04		10,369.37		3,211.54		4,512.12		6,233.80		6,351.61		4,753.60		6,623.63
Extranjero		136,495.87		131,105.45		111,100.76		111,349.38		121,460.39		114,573.47		125,894.89		119,223.12
PATRIMONIO		627,941.47		626,810.66		635,387.06		640,712.01		640,022.24		642,492.02		656,622.11		656,311.29
Capital		286,605.15		286,799.88		286,980.39		287,163.52		287,340.75		287,597.15		287,947.02		288,129.32
Reservas de Capital		95,210.15		95,210.15		95,210.15		95,210.15		95,210.15		95,210.15		95,210.15		95,210.15
Otras Reservas		-3,390.17		-4,255.32		-3,723.37		-3,011.25		-3,779.18		-3,349.51		-3,549.23		-2,697.38
Utilidad de Periodos Anteriores		240,051.38		234,553.98		234,553.98		234,547.90		229,044.41		228,310.01		228,310.01		222,069.21
Utilidad de Periodo		14,946.21		21,687.61		26,720.98		31,072.91		33,884.82		41,264.03		52,692.92		57,344.39
Ganancia o Perdida en Valores Disponible para la venta		-5,481.25		-7,185.65		-4,355.07		-4,271.22		-1,678.71		-6,539.81		-3,988.76		-3,744.40
Deuda Subordinada		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
PASIVO Y PATRIMONIO		4,129,247.37		4,329,880.62		4,281,276.68		4,616,526.45		4,790,610.39		4,803,843.91		4,838,959.12		5,043,659.18

*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).

	18 de febrero de 2011
	ESTADO DE RESULTADO
	BANCO LATINOAMERICANO DE COMERCIO EXTERIOR, S.A.
	DE DICIEMBRE 2009 A DICIEMBRE 2010
	(En Miles de Balboas) *

	2009		2010
	Diciembre		Enero		Febrero		Marzo	Abril		Mayo		Junio	Julio		Agosto		Septiembre		Octubre		Noviembre		Diciembre		Acumulado
Ingresos Por Intereses		140,201.06		9,581.27		7,640.60	8,585.97		9,625.04		8,677.64	9,026.50		10,015.69		10,938.47		10,314.31		11,047.27		10,958.80		10,866.66		117,278.22
Préstamos		114,326.15		8,447.84		6,872.64	7,523.07		8,695.31		7,608.76	8,011.63		8,825.55		9,783.70		9,256.10		9,888.21		10,045.93		9,876.54		104,835.28
Depósitos		1,260.49		62.20		52.77	69.23		60.59		75.69	100.90		127.36		67.01		50.03		58.47		44.06		68.90		837.22
Inversiones		24,614.43		1,071.23		715.19	993.67		869.14		993.18	913.97		1,062.79		1,087.75		1,008.18		1,100.59		868.81		921.22		11,605.72
Arrendamiento Financiero		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 Ingresos		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
Egresos de Operaciones		74,969.79		3,752.81		3,269.58	3,568.97		3,350.71		3,398.11	3,451.75		3,825.68		3,881.85		3,784.95		3,961.59		3,832.83		4,066.89		44,145.73
Intereses Pagados		74,886.82		3,745.36		3,261.10	3,558.69		3,343.68		3,391.57	3,444.69		3,814.63		3,875.80		3,779.92		3,931.66		3,814.43		4,050.12		44,011.66
Comisiones		82.97		7.45		8.48	10.28		7.03		6.53	7.06		11.05		6.05		5.04		29.93		18.40		16.77		134.07
Ingreso Neto de Intereses		65,231.27		5,828.46		4,371.02	5,017.01		6,274.33		5,279.53	5,574.75		6,190.01		7,056.61		6,529.36		7,085.68		7,125.96		6,799.77		73,132.49
Otros Ingresos		24,897.89		653.25		1,282.24	1,614.43		404.80		1,626.20	1,457.39		1,160.14		1,023.21		1,857.96		3,277.89		7,628.62		2,169.96		24,156.11
Comisiones		6,483.61		810.68		693.94	738.51		850.15		789.13	977.58		600.47		551.01		810.43		760.07		762.32		1,555.85		9,900.14
Operaciones con Divisas		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
Dividendos		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 ingresos		18,414.28		-157.43		588.30	875.92		-445.34		837.07	479.81		559.68		472.21		1,047.53		2,517.82		6,866.30		614.12		14,255.97
Ingresos de Operaciones		90,129.16		6,481.72		5,653.26	6,631.44		6,679.13		6,905.73	7,032.13		7,350.15		8,079.83		8,387.32		10,363.57		14,754.59		8,969.73		97,288.60
Egresos Generales		36,937.77		3,549.42		3,851.97	3,896.92		2,858.20		3,816.98	4,084.25		3,116.79		3,727.90		4,682.31		2,984.35		3,325.70		4,883.64		44,778.43
Gastos Administrativos		19,787.00		1,531.88		1,727.98	2,169.11		1,531.72		1,652.56	2,011.39		1,581.43		1,909.08		2,410.91		1,349.21		1,804.82		2,324.59		22,004.67
Gastos Generales		4,116.70		337.38		325.02	527.35		267.18		376.55	579.79		233.01		439.92		552.37		321.77		403.60		725.98		5,089.90
Gastos de Depreciación		2,559.40		215.34		217.00	217.35		195.02		189.51	192.39		199.17		195.99		197.53		201.88		195.90		186.10		2,403.20
Otros Gastos		10,474.67		1,464.82		1,581.97	983.11		864.28		1,598.36	1,300.68		1,103.18		1,182.91		1,521.50		1,111.50		921.39		1,646.96		15,280.66
Utilidad antes de Provisiones		53,191.39		2,932.30		1,801.29	2,734.52		3,820.94		3,088.75	2,947.89		4,233.37		4,351.93		3,705.01		7,379.22		11,428.89		4,086.09		52,510.17
Provisiones por Cuentas Malas		14,830.87		0.00		300.67	-3,767.39		3,129.72		-231.43	-3,793.52		-800.00		0.00		893.10		0.00		0.00		-565.38		-4,834.21
Utilidad del Periodo		38,360.52		2,932.30		1,500.61	6,501.91		691.21		3,320.18	6,741.40		5,033.37		4,351.93		2,811.90		7,379.22		11,428.89		4,651.47		57,344.39

*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.

	February 18, 2011
	BALANCE SHEET
	BANCO LATINOAMERICANO DE COMERCIO EXTERIOR, S.A.
	DECEMBER 2009 - DECEMBER 2010
	(In Thousand Balboas) *

					2009		2010
	Absolute Variation		%		December		January		February		March		April
LIQUID ASSETS		11,896.01		2.80		424,385.05		374,588.34		362,034.09		348,592.24		375,824.51
Local Deposits in Banks		218.11		805.02		27.09		39.99		255.66		175.37		33.65
Demand		218.11		805.02		27.09		39.99		255.66		175.37		33.65
Time		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Foreign Deposits in Banks		11,678.54		2.75		424,346.48		374,539.75		361,765.37		348,402.26		375,762.21
Demand		81,678.54		39.97		204,346.48		148,139.75		202,865.37		178,702.26		205,762.21
Time		-70,000.00		-31.82		220,000.00		226,400.00		158,900.00		169,700.00		170,000.00
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		-0.64		-5.62		11.48		8.60		13.06		14.61		28.65
CREDIT PORTFOLIO		1,280,243.06		47.32		2,705,473.12		2,643,212.60		2,729,005.31		2,861,502.24		2,914,351.79
Local		201,493.28		353.55		56,992.09		60,921.15		60,849.78		75,973.50		100,901.71
Foreign		1,086,706.39		39.92		2,722,269.86		2,656,078.69		2,742,243.44		2,859,465.51		2,890,516.58
Less Allowance		7,956.62		10.78		73,788.83		73,787.24		74,087.91		73,936.77		77,066.49
Local		1,193.47		93.26		1,279.69		1,279.69		1,279.69		1,522.31		1,522.31
Foreign		6,763.14		9.33		72,509.14		72,507.55		72,808.22		72,414.46		75,544.18
INVESTMENT SECURITIES		-70,561.50		-11.49		614,353.92		613,396.08		616,501.74		615,159.60		615,035.76
Local		10,693.82		24.43		43,776.00		43,586.00		43,960.00		43,572.00		43,708.00
Foreign		-81,255.32		-14.24		570,577.92		569,810.08		572,541.74		571,587.60		571,327.76
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		30,009.67		62.70		47,859.85		47,659.41		50,759.94		41,892.90		48,373.56
Local		10,056.80		269.86		3,726.64		4,053.24		4,311.42		466.14		3,977.44
Foreign		19,952.87		45.21		44,133.21		43,606.17		46,448.52		41,426.76		44,396.12
TOTAL ASSETS		1,251,587.24		33.01		3,792,071.95		3,678,856.42		3,758,301.07		3,867,146.98		3,953,585.61
DEPOSITS		565,117.86		44.96		1,256,977.97		1,270,196.08		1,355,586.12		1,356,077.64		1,332,000.26
Local		149,128.95		136.97		108,876.22		150,861.68		142,864.13		161,372.18		123,432.86
Government		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Customers		40,000.00		0.00		0.00		39,000.00		39,000.00		39,000.00		27,000.00
Demand		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Time		40,000.00		0.00		0.00		39,000.00		39,000.00		39,000.00		27,000.00
Savings		0.00		0.00		0.00		0.00		0.00		0.00		0.00
From Banks		109,128.95		100.23		108,876.22		111,861.68		103,864.13		122,372.18		96,432.86
Demand		61.91		20.75		298.32		298.32		297.76		297.29		354.64
Time		109,067.03		100.45		108,577.90		111,563.37		103,566.36		122,074.90		96,078.22
Foreign		415,988.91		36.23		1,148,101.75		1,119,334.40		1,212,722.00		1,194,705.45		1,208,567.40
Government		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Customers		-14,216.40		-77.50		18,343.29		2,365.51		2,180.82		2,317.37		2,234.44
Demand		-1,178.20		-45.05		2,615.55		1,637.77		1,452.74		1,589.29		1,506.37
Time		-13,038.20		-82.90		15,727.74		727.74		728.08		728.08		728.08
Savings		0.00		0.00		0.00		0.00		0.00		0.00		0.00
From Banks		430,205.31		38.08		1,129,758.45		1,116,968.89		1,210,541.18		1,192,388.09		1,206,332.95
Demand		50,532.68		102.72		49,193.30		39,660.25		44,172.37		35,748.27		34,163.06
Time		379,672.63		35.14		1,080,565.15		1,077,308.64		1,166,368.81		1,156,639.82		1,172,169.89
BORROWINGS		646,734.34		36.08		1,792,670.97		1,662,213.88		1,664,236.27		1,775,274.07		1,883,387.61
Local		0.00		0.00		0.00		0.00		0.00		102.17		0.00
Foreign		646,734.34		36.08		1,792,670.97		1,662,213.88		1,664,236.27		1,775,171.91		1,883,387.61
OTHER LIABILITIES		3,221.39		2.63		122,625.36		129,561.54		121,811.46		109,946.01		111,682.39
Local		-3,928.52		-37.23		10,552.15		13,964.05		9,040.63		9,379.45		9,007.22
Foreign		7,149.91		6.38		112,073.21		115,597.49		112,770.83		100,566.56		102,675.17
STOCKHOLDERS´ EQUITY		36,513.65		5.89		619,797.64		616,884.91		616,667.23		625,849.26		626,515.36
Capital		2,930.55		1.03		285,198.77		285,340.34		285,484.56		285,959.89		286,428.79
Capital Reserves		0.00		0.00		95,210.15		95,210.15		95,210.15		95,210.15		95,210.15
Other Reserves		218.66		-7.50		-2,916.04		-3,540.36		-3,455.61		-3,658.56		-3,566.67
Retained Earnings		14,880.94		7.18		207,188.27		245,548.79		240,066.95		240,060.46		240,051.38
Net Income		18,983.87		49.49		38,360.52		2,932.30		4,432.91		10,934.82		11,626.04
Gain or Loss in Securities available for sale		-500.37		15.42		-3,244.03		-8,606.32		-5,071.75		-2,657.50		-3,234.33
Subordinated Debt		0.00		0.00		0.00		0.00		0.00		0.00		0.00
LIABILITIES AND STOCKHOLDER'S EQUITY		1,251,587.24		33.01		3,792,071.95		3,678,856.42		3,758,301.08		3,867,146.98		3,953,585.61

*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.

	February 18, 2011
	BALANCE SHEET
	BANCO LATINOAMERICANO DE COMERCIO EXTERIOR, S.A.
	DECEMBER 2009 - DECEMBER 2010
	(In Thousand Balboas) *

	2010
	May		June		July		August		September		October		November		December
LIQUID ASSETS		572,159.88		619,425.09		335,306.79		294,882.99		362,672.90		375,111.55		174,228.63		436,281.06
Local Deposits in Banks		152.32		202.70		481.46		255.27		242.93		239.96		278.90		245.21
Demand		152.32		202.70		481.46		255.27		242.93		239.96		278.90		245.21
Time		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Foreign Deposits in Banks		571,996.54		619,210.73		334,814.89		294,621.50		362,420.77		374,860.65		173,930.10		436,025.02
Demand		324,796.54		329,210.73		248,414.89		184,621.50		220,320.77		226,060.65		145,330.10		286,025.02
Time		247,200.00		290,000.00		86,400.00		110,000.00		142,100.00		148,800.00		28,600.00		150,000.00
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		11.03		11.66		10.43		6.22		9.20		10.95		19.63		10.83
CREDIT PORTFOLIO		2,854,379.53		3,018,457.38		3,244,234.23		3,606,937.78		3,677,931.18		3,749,315.04		4,032,765.85		3,985,716.18
Local		100,201.71		155,660.79		220,059.25		235,504.83		271,512.44		240,297.60		245,387.22		258,485.38
Foreign		2,828,883.65		2,944,065.73		3,104,641.73		3,451,899.70		3,475,118.01		3,577,727.76		3,856,088.94		3,808,976.25
Less Allowance		74,705.83		81,269.14		80,466.75		80,466.75		68,699.27		68,710.31		68,710.31		81,745.45
Local		1,522.31		1,954.30		2,952.85		3,468.02		2,985.95		2,413.09		2,331.91		2,473.16
Foreign		73,183.52		79,314.85		77,513.90		76,998.73		65,713.32		66,297.22		66,378.40		79,272.29
INVESTMENT SECURITIES		625,690.35		627,539.59		656,454.22		662,746.58		704,331.98		628,305.93		557,033.50		543,792.42
Local		43,670.00		43,740.00		44,056.00		49,660.25		80,972.00		95,561.28		67,560.00		54,469.82
Foreign		582,020.35		583,799.59		612,398.22		613,086.33		623,359.98		532,744.65		489,473.50		489,322.60
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		77,017.60		64,458.57		45,281.45		51,959.11		45,674.33		51,111.38		74,931.13		77,869.52
Local		4,563.09		4,539.20		14,007.47		15,956.98		14,953.73		15,623.52		14,132.99		13,783.44
Foreign		72,454.52		59,919.37		31,273.98		36,002.13		30,720.60		35,487.86		60,798.14		64,086.08
TOTAL ASSETS		4,129,247.37		4,329,880.62		4,281,276.68		4,616,526.45		4,790,610.39		4,803,843.91		4,838,959.12		5,043,659.18
DEPOSITS		1,428,696.25		1,507,917.33		1,554,746.33		1,745,200.77		1,861,484.09		1,967,127.26		1,829,335.07		1,822,095.82
Local		128,409.55		187,100.69		221,610.11		245,920.11		288,931.45		267,012.59		311,550.71		258,005.17
Government		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Customers		41,000.00		31,000.00		23,000.00		23,000.00		30,000.00		16,000.00		40,000.00		40,000.00
Demand		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Time		41,000.00		31,000.00		23,000.00		23,000.00		30,000.00		16,000.00		40,000.00		40,000.00
Savings		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
From Banks		87,409.55		156,100.69		198,610.11		222,920.11		258,931.45		251,012.59		271,550.71		218,005.17
Demand		331.62		331.55		331.55		331.55		331.55		401.11		407.60		360.23
Time		87,077.93		155,769.14		198,278.57		222,588.57		258,599.90		250,611.47		271,143.11		217,644.94
Foreign		1,300,286.70		1,320,816.64		1,333,136.22		1,499,280.65		1,572,552.65		1,700,114.67		1,517,784.36		1,564,090.66
Government		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Customers		2,737.33		2,416.41		12,208.30		12,722.20		12,234.84		4,253.17		4,281.36		4,126.89
Demand		2,008.94		1,688.02		1,529.90		2,043.19		1,555.84		1,564.07		1,591.82		1,437.35
Time		728.40		728.40		10,678.40		10,679.00		10,679.00		2,689.10		2,689.54		2,689.54
Savings		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
From Banks		1,297,549.37		1,318,400.23		1,320,927.92		1,486,558.46		1,560,317.81		1,695,861.51		1,513,503.00		1,559,963.77
Demand		23,005.47		21,928.34		28,442.30		28,375.73		28,199.74		56,011.77		37,850.75		99,725.99
Time		1,274,543.90		1,296,471.89		1,292,485.62		1,458,182.72		1,532,118.07		1,639,849.74		1,475,652.26		1,460,237.78
BORROWINGS		1,932,052.74		2,053,677.81		1,976,830.99		2,114,752.18		2,161,409.86		2,073,299.55		2,222,353.45		2,439,405.32
Local		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Foreign		1,932,052.74		2,053,677.81		1,976,830.99		2,114,752.18		2,161,409.86		2,073,299.55		2,222,353.45		2,439,405.32
OTHER LIABILITIES		140,556.91		141,474.82		114,312.30		115,861.50		127,694.19		120,925.07		130,648.49		125,846.75
Local		4,061.04		10,369.37		3,211.54		4,512.12		6,233.80		6,351.61		4,753.60		6,623.63
Foreign		136,495.87		131,105.45		111,100.76		111,349.38		121,460.39		114,573.47		125,894.89		119,223.12
STOCKHOLDERS´ EQUITY		627,941.47		626,810.66		635,387.06		640,712.01		640,022.24		642,492.02		656,622.11		656,311.29
Capital		286,605.15		286,799.88		286,980.39		287,163.52		287,340.75		287,597.15		287,947.02		288,129.32
Capital Reserves		95,210.15		95,210.15		95,210.15		95,210.15		95,210.15		95,210.15		95,210.15		95,210.15
Other Reserves		-3,390.17		-4,255.32		-3,723.37		-3,011.25		-3,779.18		-3,349.51		-3,549.23		-2,697.38
Retained Earnings		240,051.38		234,553.98		234,553.98		234,547.90		229,044.41		228,310.01		228,310.01		222,069.21
Net Income		14,946.21		21,687.61		26,720.98		31,072.91		33,884.82		41,264.03		52,692.92		57,344.39
Gain or Loss in Securities available for sale		-5,481.25		-7,185.65		-4,355.07		-4,271.22		-1,678.71		-6,539.81		-3,988.76		-3,744.40
Subordinated Debt		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
LIABILITIES AND STOCKHOLDER'S EQUITY		4,129,247.37		4,329,880.62		4,281,276.68		4,616,526.45		4,790,610.39		4,803,843.91		4,838,959.12		5,043,659.18

*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.

	February 18, 2011
	STATEMENT OF INCOME
	BANCO LATINOAMERICANO DE COMERCIO EXTERIOR, S.A.
	DECEMBER 2009 - DECEMBER 2010
	(In Thousand Balboas) *

	2009		2010
	December		January		February		March	April		May		June	July		August		September		October		November		December		Year to date
Interest Income		140,201.06		9,581.27		7,640.60	8,585.97		9,625.04		8,677.64	9,026.50		10,015.69		10,938.47		10,314.31		11,047.27		10,958.80		10,866.66		117,278.22
Loans		114,326.15		8,447.84		6,872.64	7,523.07		8,695.31		7,608.76	8,011.63		8,825.55		9,783.70		9,256.10		9,888.21		10,045.93		9,876.54		104,835.28
Deposits		1,260.49		62.20		52.77	69.23		60.59		75.69	100.90		127.36		67.01		50.03		58.47		44.06		68.90		837.22
Investments		24,614.43		1,071.23		715.19	993.67		869.14		993.18	913.97		1,062.79		1,087.75		1,008.18		1,100.59		868.81		921.22		11,605.72
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		74,969.79		3,752.81		3,269.58	3,568.97		3,350.71		3,398.11	3,451.75		3,825.68		3,881.85		3,784.95		3,961.59		3,832.83		4,066.89		44,145.73
Interest		74,886.82		3,745.36		3,261.10	3,558.69		3,343.68		3,391.57	3,444.69		3,814.63		3,875.80		3,779.92		3,931.66		3,814.43		4,050.12		44,011.66
Commissions		82.97		7.45		8.48	10.28		7.03		6.53	7.06		11.05		6.05		5.04		29.93		18.40		16.77		134.07
Net Interest Income		65,231.27		5,828.46		4,371.02	5,017.01		6,274.33		5,279.53	5,574.75		6,190.01		7,056.61		6,529.36		7,085.68		7,125.96		6,799.77		73,132.49
Other Income		24,897.89		653.25		1,282.24	1,614.43		404.80		1,626.20	1,457.39		1,160.14		1,023.21		1,857.96		3,277.89		7,628.62		2,169.96		24,156.11
Commissions		6,483.61		810.68		693.94	738.51		850.15		789.13	977.58		600.47		551.01		810.43		760.07		762.32		1,555.85		9,900.14
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		18,414.28		-157.43		588.30	875.92		-445.34		837.07	479.81		559.68		472.21		1,047.53		2,517.82		6,866.30		614.12		14,255.97
Operating Income		90,129.16		6,481.72		5,653.26	6,631.44		6,679.13		6,905.73	7,032.13		7,350.15		8,079.83		8,387.32		10,363.57		14,754.59		8,969.73		97,288.60
Operating Expenses		36,937.77		3,549.42		3,851.97	3,896.92		2,858.20		3,816.98	4,084.25		3,116.79		3,727.90		4,682.31		2,984.35		3,325.70		4,883.64		44,778.43
Administrative expenses		19,787.00		1,531.88		1,727.98	2,169.11		1,531.72		1,652.56	2,011.39		1,581.43		1,909.08		2,410.91		1,349.21		1,804.82		2,324.59		22,004.67
General expenses		4,116.70		337.38		325.02	527.35		267.18		376.55	579.79		233.01		439.92		552.37		321.77		403.60		725.98		5,089.90
Depreciation		2,559.40		215.34		217.00	217.35		195.02		189.51	192.39		199.17		195.99		197.53		201.88		195.90		186.10		2,403.20
Other expenses		10,474.67		1,464.82		1,581.97	983.11		864.28		1,598.36	1,300.68		1,103.18		1,182.91		1,521.50		1,111.50		921.39		1,646.96		15,280.66
Net Income before provision for loan losses		53,191.39		2,932.30		1,801.29	2,734.52		3,820.94		3,088.75	2,947.89		4,233.37		4,351.93		3,705.01		7,379.22		11,428.89		4,086.09		52,510.17
Provision for loan losses		14,830.87		0.00		300.67	-3,767.39		3,129.72		-231.43	-3,793.52		-800.00		0.00		893.10		0.00		0.00		-565.38		-4,834.21
Net Income		38,360.52		2,932.30		1,500.61	6,501.91		691.21		3,320.18	6,741.40		5,033.37		4,351.93		2,811.90		7,379.22		11,428.89		4,651.47		57,344.39

*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).