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 October, 2004
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 6-1497
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.
October 8, 2004
Banco Latinoamericano de Exportaciones, S.A.
By: /s/ Pedro Toll
Name: Pedro Toll
Title: Deputy Manager
September 21, 2004
{LOGO]
BANCO LATINOAMERICANO DE EXPORTACIONES
BALANCE SHEETS* December 2003 and January to August 2004
(In Balboas)**
--------------------------------------------------------------------------------------------------------------------------
2003 2004
--------------------------------------------------------------------------------------------------------------------------
Description Absolute % December January February
--------------------------------------------------------------------------------------------------------------------------
LIQUID ASSETS -60,606,629.42 -31.76 190,799,943.18 192,064,648.30 234,316,239.13
--------------------------------------------------------------------------------------------------------------------------
Local Deposits in Banks -4,010.63 -2.59 154,867.09 148,473.17 172,395.85
--------------------------------------------------------------------------------------------------------------------------
Demand -4,010.63 -2.59 154,867.09 148,473.17 172,395.85
--------------------------------------------------------------------------------------------------------------------------
Time 0.00 0.00 0.00 0.00 0.00
--------------------------------------------------------------------------------------------------------------------------
Foreign Deposits in Banks -60,592,649.14 -31.80 190,519,519.42 191,777,453.20 234,061,676.10
--------------------------------------------------------------------------------------------------------------------------
Demand 2,206,386.97 306.24 720,483.31 3,182,508.52 2,934,580.72
--------------------------------------------------------------------------------------------------------------------------
Time -62,799,036.11 -33.09 189,799,036.11 188,594,944.68 231,127,095.38
--------------------------------------------------------------------------------------------------------------------------
Less Allowance 0.00 0.00 0.00 0.00 0.00
--------------------------------------------------------------------------------------------------------------------------
Local 0.00 0.00 0.00 0.00 0.00
--------------------------------------------------------------------------------------------------------------------------
Foreign 0.00 0.00 0.00 0.00 0.00
--------------------------------------------------------------------------------------------------------------------------
Others -9,969.65 -7.94 125,556.67 138,721.93 82,167.18
--------------------------------------------------------------------------------------------------------------------------
CREDIT PORTFOLIO -229,198,297.89 -13.21 1,735,136,671.38 1,729,608,465.58 1,677,488,314.06
--------------------------------------------------------------------------------------------------------------------------
Local 80,186,022.83 37.96 211,227,524.30 167,786,374.36 177,192,240.23
--------------------------------------------------------------------------------------------------------------------------
Foreign -142,113,119.99 -9.33 1,523,909,147.08 1,561,822,091.22 1,500,296,073.83
--------------------------------------------------------------------------------------------------------------------------
Less Allowance -54,137,559.80 -24.45 221,408,760.53 213,595,077.66 209,716,532.79
--------------------------------------------------------------------------------------------------------------------------
Local -30,008,578.39 -28.35 105,866,145.18 100,059,570.12 95,403,704.25
--------------------------------------------------------------------------------------------------------------------------
Foreign -24,128,981.41 -20.88 115,542,615.35 113,535,507.54 114,312,828.54
--------------------------------------------------------------------------------------------------------------------------
INVESTMENT SECURITIES 6,295,567.48 5.61 112,295,247.89 111,905,462.66 111,673,317.31
--------------------------------------------------------------------------------------------------------------------------
Local 0.00 0.00 0.00 0.00 0.00
--------------------------------------------------------------------------------------------------------------------------
Foreign 6,295,567.48 5.61 112,295,247.89 111,905,462.66 111,673,317.31
--------------------------------------------------------------------------------------------------------------------------
Less Allowance 0.00 0.00 0.00 0.00 0.00
--------------------------------------------------------------------------------------------------------------------------
Local 0.00 0.00 0.00 0.00 0.00
--------------------------------------------------------------------------------------------------------------------------
Foreign 0.00 0.00 0.00 0.00 0.00
--------------------------------------------------------------------------------------------------------------------------
OTHER ASSETS 16,673,538.53 32.77 50,888,083.69 64,583,832.22 63,669,397.02
--------------------------------------------------------------------------------------------------------------------------
Local 46,761.83 0.76 6,170,009.76 5,967,530.86 6,004,000.34
--------------------------------------------------------------------------------------------------------------------------
Foreign 16,626,776.70 37.18 44,718,073.93 58,616,301.36 57,665,396.68
--------------------------------------------------------------------------------------------------------------------------
TOTAL ASSETS -266,835,821.30 -12.77 2,089,119,946.14 2,098,162,408.76 2,087,147,267.52
--------------------------------------------------------------------------------------------------------------------------
DEPOSITS 9,688,326.19 1.88 514,414,316.03 518,360,985.90 521,737,597.31
--------------------------------------------------------------------------------------------------------------------------
Local -21,536,241.31 -49.41 43,587,485.58 45,390,804.32 42,062,496.54
--------------------------------------------------------------------------------------------------------------------------
Government 0.00 0.00 0.00 0.00 0.00
--------------------------------------------------------------------------------------------------------------------------
Customers 0.00 0.00 0.00 0.00 0.00
--------------------------------------------------------------------------------------------------------------------------
Demand 0.00 0.00 0.00 0.00 0.00
--------------------------------------------------------------------------------------------------------------------------
Time 0.00 0.00 0.00 0.00 0.00
--------------------------------------------------------------------------------------------------------------------------
Savings 0.00 0.00 0.00 0.00 0.00
--------------------------------------------------------------------------------------------------------------------------
From Banks -21,536,241.31 -49.41 43,587,485.58 45,390,804.32 42,062,496.54
--------------------------------------------------------------------------------------------------------------------------
Demand 1,402,705.12 30.52 4,595,824.32 6,094,329.66 6,101,933.23
--------------------------------------------------------------------------------------------------------------------------
Time -22,938,946.43 -58.83 38,991,661.26 39,296,474.66 35,960,563.31
--------------------------------------------------------------------------------------------------------------------------
Foreign 31,224,567.50 6.63 470,826,830.45 472,970,181.58 479,675,100.77
--------------------------------------------------------------------------------------------------------------------------
Government 0.00 0.00 0.00 0.00 0.00
--------------------------------------------------------------------------------------------------------------------------
Customers -108,867,572.19 -75.57 144,069,723.19 99,357,945.44 87,518,635.29
--------------------------------------------------------------------------------------------------------------------------
Demand -2,193,710.46 -64.60 3,395,861.46 1,757,945.44 3,518,635.29
--------------------------------------------------------------------------------------------------------------------------
Time -106,673,861.73 -75.83 140,673,861.73 97,600,000.00 84,000,000.00
--------------------------------------------------------------------------------------------------------------------------
Savings 0.00 0.00 0.00 0.00 0.00
--------------------------------------------------------------------------------------------------------------------------
From Banks 140,092,139.69 42.87 326,757,107.26 373,612,236.14 392,156,465.48
--------------------------------------------------------------------------------------------------------------------------
Demand -2,155,816.20 -19.42 11,100,547.00 14,459,263.26 10,376,666.71
--------------------------------------------------------------------------------------------------------------------------
Time 142,247,955.89 45.06 315,656,560.26 359,152,972.88 381,779,798.77
--------------------------------------------------------------------------------------------------------------------------
BORROWINGS -339,166,441.53 -33.22 1,020,959,382.93 1,004,876,078.51 981,368,587.28
--------------------------------------------------------------------------------------------------------------------------
Local -638,865.20 -2.96 21,603,810.80 21,603,810.80 21,603,810.80
--------------------------------------------------------------------------------------------------------------------------
Foreign -338,527,576.33 -33.87 999,355,572.13 983,272,267.71 959,764,776.48
--------------------------------------------------------------------------------------------------------------------------
OTHER LIABILITIES 3,386,223.68 3.50 96,619,215.59 107,357,098.15 109,077,967.55
--------------------------------------------------------------------------------------------------------------------------
Local -27,356,452.33 -90.14 30,347,173.08 31,567,311.00 35,806,705.76
--------------------------------------------------------------------------------------------------------------------------
Foreign 30,742,676.01 46.39 66,272,042.51 75,789,787.15 73,271,261.79
--------------------------------------------------------------------------------------------------------------------------
STOCKHOLDERS' EQUITY 59,256,070.36 12.96 457,127,031.59 467,568,246.20 474,963,115.38
--------------------------------------------------------------------------------------------------------------------------
Capital -6.37 0.00 328,225,212.57 328,225,212.57 328,225,212.57
--------------------------------------------------------------------------------------------------------------------------
Capital Reserves 0.00 0.00 16,609,728.78 16,609,728.78 16,609,728.78
--------------------------------------------------------------------------------------------------------------------------
Other Reserves 0.00 0.00 0.00 0.00 0.00
--------------------------------------------------------------------------------------------------------------------------
Retained Earnings 93,880,817.32 14128.06 664,499.09 102,415,864.02 102,415,864.02
--------------------------------------------------------------------------------------------------------------------------
Net Income -34,187,624.93 -33.60 101,751,364.93 10,593,177.01 17,792,214.06
--------------------------------------------------------------------------------------------------------------------------
Gain or Loss in Securities
available for sale -437,115.66 -4.43 9,876,226.22 9,724,263.82 9,920,095.95
--------------------------------------------------------------------------------------------------------------------------
LIABILITIES AND STOCKHOLDER'S EQUITY -266,835,821.30 -12.77 2,089,119,946.14 2,098,162,408.76 2,087,147,267.52
--------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
2004
--------------------------------------------------------------------------------------------------------------------------------
Description March April May June July
--------------------------------------------------------------------------------------------------------------------------------
LIQUID ASSETS 132,229,195.34 145,258,460.44 153,847,073.92 189,637,852.74 213,403,425.29
--------------------------------------------------------------------------------------------------------------------------------
Local Deposits in Banks 148,973.07 151,332.83 804,092.05 161,327.61 151,562.45
--------------------------------------------------------------------------------------------------------------------------------
Demand 148,973.07 151,332.83 804,092.05 161,327.61 151,562.45
--------------------------------------------------------------------------------------------------------------------------------
Time 0.00 0.00 0.00 0.00 0.00
--------------------------------------------------------------------------------------------------------------------------------
Foreign Deposits in Banks 131,933,367.96 144,997,230.65 152,964,580.58 189,407,623.34 213,040,396.13
--------------------------------------------------------------------------------------------------------------------------------
Demand 2,833,367.96 2,797,230.65 1,764,580.58 1,707,623.34 41,240,396.13
--------------------------------------------------------------------------------------------------------------------------------
Time 129,100,000.00 142,200,000.00 151,200,000.00 187,700,000.00 171,800,000.00
--------------------------------------------------------------------------------------------------------------------------------
Less Allowance 0.00 0.00 0.00 0.00 0.00
--------------------------------------------------------------------------------------------------------------------------------
Local 0.00 0.00 0.00 0.00 0.00
--------------------------------------------------------------------------------------------------------------------------------
Foreign 0.00 0.00 0.00 0.00 0.00
--------------------------------------------------------------------------------------------------------------------------------
Others 146,854.31 109,896.96 78,401.29 68,901.79 211,466.71
--------------------------------------------------------------------------------------------------------------------------------
CREDIT PORTFOLIO 1,645,045,191.99 1,636,216,654.95 1,688,616,702.20 1,714,260,384.06 1,490,931,500.86
--------------------------------------------------------------------------------------------------------------------------------
Local 135,583,600.56 128,541,494.99 184,995,042.99 225,661,204.29 293,413,671.09
--------------------------------------------------------------------------------------------------------------------------------
Foreign 1,509,461,591.43 1,507,675,159.96 1,503,621,659.21 1,488,599,179.77 1,381,268,501.02
--------------------------------------------------------------------------------------------------------------------------------
Less Allowance 202,912,084.41 202,495,059.20 190,678,766.24 183,730,089.95 183,750,671.25
--------------------------------------------------------------------------------------------------------------------------------
Local 93,512,343.92 88,127,539.49 85,023,960.29 81,357,676.95 76,322,107.65
--------------------------------------------------------------------------------------------------------------------------------
Foreign 109,399,740.49 114,367,519.71 105,654,805.95 102,372,413.00 107,428,563.60
--------------------------------------------------------------------------------------------------------------------------------
INVESTMENT SECURITIES 112,447,442.98 110,568,084.48 109,614,880.51 106,486,356.60 103,416,671.19
--------------------------------------------------------------------------------------------------------------------------------
Local 0.00 0.00 0.00 0.00 0.00
--------------------------------------------------------------------------------------------------------------------------------
Foreign 112,447,442.98 110,568,084.48 109,614,880.51 106,486,356.60 103,416,671.19
--------------------------------------------------------------------------------------------------------------------------------
Less Allowance 0.00 0.00 0.00 0.00 0.00
--------------------------------------------------------------------------------------------------------------------------------
Local 0.00 0.00 0.00 0.00 0.00
--------------------------------------------------------------------------------------------------------------------------------
Foreign 0.00 0.00 0.00 0.00 0.00
--------------------------------------------------------------------------------------------------------------------------------
OTHER ASSETS 61,241,400.29 72,747,194.07 70,673,887.44 70,416,358.73 46,565,866.10
--------------------------------------------------------------------------------------------------------------------------------
Local 5,069,422.26 4,919,303.22 5,134,214.91 6,093,325.52 6,197,247.69
--------------------------------------------------------------------------------------------------------------------------------
Foreign 56,171,978.03 67,827,890.85 65,539,672.53 64,323,033.21 40,368,618.41
--------------------------------------------------------------------------------------------------------------------------------
TOTAL ASSETS 1,950,963,230.60 1,964,790,393.94 2,022,752,544.07 2,080,800,952.13 1,854,317,463.44
--------------------------------------------------------------------------------------------------------------------------------
DEPOSITS 535,697,217.51 538,834,533.58 582,122,023.34 669,596,704.02 537,955,464.21
--------------------------------------------------------------------------------------------------------------------------------
Local 36,870,785.38 40,381,089.05 42,482,045.73 40,401,692.21 20,666,566.29
--------------------------------------------------------------------------------------------------------------------------------
Government 0.00 0.00 0.00 0.00 0.00
--------------------------------------------------------------------------------------------------------------------------------
Customers 0.00 0.00 0.00 0.00 0.00
--------------------------------------------------------------------------------------------------------------------------------
Demand 0.00 0.00 0.00 0.00 0.00
--------------------------------------------------------------------------------------------------------------------------------
Time 0.00 0.00 0.00 0.00 0.00
--------------------------------------------------------------------------------------------------------------------------------
Savings 0.00 0.00 0.00 0.00 0.00
--------------------------------------------------------------------------------------------------------------------------------
From Banks 36,870,785.38 40,381,089.05 42,482,045.73 40,401,692.21 20,666,566.29
--------------------------------------------------------------------------------------------------------------------------------
Demand 5,906,842.96 8,412,221.10 7,417,202.75 4,421,814.59 4,925,918.91
--------------------------------------------------------------------------------------------------------------------------------
Time 30,963,942.42 31,968,867.95 35,064,842.98 35,979,877.62 15,740,647.38
--------------------------------------------------------------------------------------------------------------------------------
Foreign 498,826,432.13 498,453,444.53 539,639,977.61 629,195,011.81 517,288,897.92
--------------------------------------------------------------------------------------------------------------------------------
Government 0.00 0.00 0.00 0.00 0.00
--------------------------------------------------------------------------------------------------------------------------------
Customers 108,117,642.12 87,773,923.14 45,534,928.45 52,037,811.07 39,540,506.56
--------------------------------------------------------------------------------------------------------------------------------
Demand 5,117,642.12 1,773,923.14 1,534,928.45 1,536,131.07 1,540,506.56
--------------------------------------------------------------------------------------------------------------------------------
Time 103,000,000.00 86,000,000.00 44,000,000.00 50,501,680.00 38,000,000.00
--------------------------------------------------------------------------------------------------------------------------------
Savings 0.00 0.00 0.00 0.00 0.00
--------------------------------------------------------------------------------------------------------------------------------
From Banks 390,708,790.01 410,679,521.39 494,105,049.16 577,157,200.74 477,748,391.36
--------------------------------------------------------------------------------------------------------------------------------
Demand 9,899,421.12 10,096,380.61 11,761,030.48 10,387,983.75 8,583,231.66
--------------------------------------------------------------------------------------------------------------------------------
Time 380,809,368.89 400,583,140.78 482,344,018.68 566,769,216.99 469,165,159.70
--------------------------------------------------------------------------------------------------------------------------------
BORROWINGS 831,663,808.85 835,118,294.17 817,166,704.50 802,651,839.32 726,928,902.58
--------------------------------------------------------------------------------------------------------------------------------
Local 21,633,511.00 21,633,511.00 20,961,247.80 20,964,945.60 20,964,945.60
--------------------------------------------------------------------------------------------------------------------------------
Foreign 810,030,297.85 813,484,783.17 796,205,456.70 781,686,893.72 705,963,956.98
--------------------------------------------------------------------------------------------------------------------------------
OTHER LIABILITIES 100,999,864.50 105,319,160.85 125,660,212.69 109,764,565.96 88,319,498.56
--------------------------------------------------------------------------------------------------------------------------------
Local 26,668,458.77 26,505,714.53 52,876,428.71 29,275,648.24 9,425,978.05
--------------------------------------------------------------------------------------------------------------------------------
Foreign 74,331,405.73 78,813,446.32 72,783,783.98 80,488,917.72 78,893,520.51
--------------------------------------------------------------------------------------------------------------------------------
STOCKHOLDERS' EQUITY 482,602,339.74 485,518,405.34 497,803,603.54 498,787,842.83 501,113,598.09
--------------------------------------------------------------------------------------------------------------------------------
Capital 328,225,212.57 328,225,206.20 328,225,206.20 328,225,206.20 328,225,206.20
--------------------------------------------------------------------------------------------------------------------------------
Capital Reserves 16,609,728.78 16,609,728.78 16,609,728.78 16,609,728.78 16,609,728.78
--------------------------------------------------------------------------------------------------------------------------------
Other Reserves 0.00 0.00 0.00 0.00 0.00
--------------------------------------------------------------------------------------------------------------------------------
Retained Earnings 98,480,590.21 98,480,590.21 98,480,590.21 94,545,316.43 94,545,316.43
--------------------------------------------------------------------------------------------------------------------------------
Net Income 28,353,232.45 32,044,307.92 45,163,182.37 50,313,997.65 52,616,325.79
--------------------------------------------------------------------------------------------------------------------------------
Gain or Loss in Securities
available for sale 10,933,575.73 10,158,572.23 9,324,895.98 9,093,593.77 9,117,020.89
--------------------------------------------------------------------------------------------------------------------------------
LIABILITIES AND STOCKHOLDER'S EQUITY 1,950,963,230.60 1,964,790,393.94 2,022,752,544.07 2,080,800,952.13 1,854,317,463.44
--------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
2004
-----------------------------------------------------------------------------------------------------------------------------------
Description August September October November December
-----------------------------------------------------------------------------------------------------------------------------------
LIQUID ASSETS 130,193,313.76
-----------------------------------------------------------------------------------------------------------------------------------
Local Deposits in Banks 150,856.46
-----------------------------------------------------------------------------------------------------------------------------------
Demand 150,856.46
-----------------------------------------------------------------------------------------------------------------------------------
Time 0.00
-----------------------------------------------------------------------------------------------------------------------------------
Foreign Deposits in Banks 129,926,870.28
-----------------------------------------------------------------------------------------------------------------------------------
Demand 2,926,870.28
-----------------------------------------------------------------------------------------------------------------------------------
Time 127,000,000.00
-----------------------------------------------------------------------------------------------------------------------------------
Less Allowance 0.00
-----------------------------------------------------------------------------------------------------------------------------------
Local 0.00
-----------------------------------------------------------------------------------------------------------------------------------
Foreign 0.00
-----------------------------------------------------------------------------------------------------------------------------------
Others 115,587.02
-----------------------------------------------------------------------------------------------------------------------------------
CREDIT PORTFOLIO 1,505,938,373.49
-----------------------------------------------------------------------------------------------------------------------------------
Local 291,413,547.13
-----------------------------------------------------------------------------------------------------------------------------------
Foreign 1,381,796,027.09
-----------------------------------------------------------------------------------------------------------------------------------
Less Allowance 167,271,200.73
-----------------------------------------------------------------------------------------------------------------------------------
Local 75,857,566.79
-----------------------------------------------------------------------------------------------------------------------------------
Foreign 91,413,633.94
-----------------------------------------------------------------------------------------------------------------------------------
INVESTMENT SECURITIES 118,590,815.37
-----------------------------------------------------------------------------------------------------------------------------------
Local 0.00
-----------------------------------------------------------------------------------------------------------------------------------
Foreign 118,590,815.37
-----------------------------------------------------------------------------------------------------------------------------------
Less Allowance 0.00
-----------------------------------------------------------------------------------------------------------------------------------
Local 0.00
-----------------------------------------------------------------------------------------------------------------------------------
Foreign 0.00
-----------------------------------------------------------------------------------------------------------------------------------
OTHER ASSETS 67,561,622.22
-----------------------------------------------------------------------------------------------------------------------------------
Local 6,216,771.59
-----------------------------------------------------------------------------------------------------------------------------------
Foreign 61,344,850.63
-----------------------------------------------------------------------------------------------------------------------------------
TOTAL ASSETS 1,822,284,124.84
-----------------------------------------------------------------------------------------------------------------------------------
DEPOSITS 524,102,642.22
-----------------------------------------------------------------------------------------------------------------------------------
Local 22,051,244.27
-----------------------------------------------------------------------------------------------------------------------------------
Government 0.00
-----------------------------------------------------------------------------------------------------------------------------------
Customers 0.00
-----------------------------------------------------------------------------------------------------------------------------------
Demand 0.00
-----------------------------------------------------------------------------------------------------------------------------------
Time 0.00
-----------------------------------------------------------------------------------------------------------------------------------
Savings 0.00
-----------------------------------------------------------------------------------------------------------------------------------
From Banks 22,051,244.27
-----------------------------------------------------------------------------------------------------------------------------------
Demand 5,998,529.44
-----------------------------------------------------------------------------------------------------------------------------------
Time 16,052,714.83
-----------------------------------------------------------------------------------------------------------------------------------
Foreign 502,051,397.95
-----------------------------------------------------------------------------------------------------------------------------------
Government 0.00
-----------------------------------------------------------------------------------------------------------------------------------
Customers 35,202,151.00
-----------------------------------------------------------------------------------------------------------------------------------
Demand 1,202,151.00
-----------------------------------------------------------------------------------------------------------------------------------
Time 34,000,000.00
-----------------------------------------------------------------------------------------------------------------------------------
Savings 0.00
-----------------------------------------------------------------------------------------------------------------------------------
From Banks 466,849,246.95
-----------------------------------------------------------------------------------------------------------------------------------
Demand 8,944,730.80
-----------------------------------------------------------------------------------------------------------------------------------
Time 457,904,516.15
-----------------------------------------------------------------------------------------------------------------------------------
BORROWINGS 681,792,941.40
-----------------------------------------------------------------------------------------------------------------------------------
Local 20,964,945.60
-----------------------------------------------------------------------------------------------------------------------------------
Foreign 660,827,995.80
-----------------------------------------------------------------------------------------------------------------------------------
OTHER LIABILITIES 100,005,439.27
-----------------------------------------------------------------------------------------------------------------------------------
Local 2,990,720.75
-----------------------------------------------------------------------------------------------------------------------------------
Foreign 97,014,718.52
-----------------------------------------------------------------------------------------------------------------------------------
STOCKHOLDERS' EQUITY 516,383,101.95
-----------------------------------------------------------------------------------------------------------------------------------
Capital 328,225,206.20
-----------------------------------------------------------------------------------------------------------------------------------
Capital Reserves 16,609,728.78
-----------------------------------------------------------------------------------------------------------------------------------
Other Reserves 0.00
-----------------------------------------------------------------------------------------------------------------------------------
Retained Earnings 94,545,316.41
-----------------------------------------------------------------------------------------------------------------------------------
Net Income 67,563,740.00
-----------------------------------------------------------------------------------------------------------------------------------
Gain or Loss in Securities
available for sale 9,439,110.56
-----------------------------------------------------------------------------------------------------------------------------------
LIABILITIES AND STOCKHOLDER'S EQUITY 1,822,284,124.84
-----------------------------------------------------------------------------------------------------------------------------------
* 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 Panama Superintendencia de Bancos (website:
http://www.superbancos.gob.pa).
September 21, 2004
STATEMENTS OF INCOME*
BANCO LATINOAMERICANO DE EXPORTACIONES, S.A.
January to August 2004
(In Balboas)**
{LOGO]
------------------------------------------------------------------------------------------------------------------------------
Description January February March I Quarter April
------------------------------------------------------------------------------------------------------------------------------
Interest Income 6,554,346.26 4,920,235.16 5,734,864.07 17,209,445.49 6,380,969.21
------------------------------------------------------------------------------------------------------------------------------
Loans 5,806,089.31 4,357,928.60 5,135,119.62 15,299,137.53 5,863,136.60
------------------------------------------------------------------------------------------------------------------------------
Deposits 134,326.48 151,395.63 195,196.95 480,919.06 117,950.90
------------------------------------------------------------------------------------------------------------------------------
Investments 613,930.47 410,910.93 404,547.50 1,429,388.90 399,881.71
------------------------------------------------------------------------------------------------------------------------------
Interest Expense 2,503,583.65 2,302,555.27 2,483,510.96 7,289,649.88 1,968,282.79
------------------------------------------------------------------------------------------------------------------------------
Interest 2,463,551.58 2,289,995.94 2,487,621.71 7,241,169.23 1,967,086.81
------------------------------------------------------------------------------------------------------------------------------
Commissions 40,032.07 12,559.33 -4,110.75 48,480.65 1,195.98
------------------------------------------------------------------------------------------------------------------------------
Net Interest Income 4,050,762.61 2,617,679.89 3,251,353.11 9,919,795.61 4,412,686.42
------------------------------------------------------------------------------------------------------------------------------
Other Income 574,025.74 440,603.31 840,675.99 1,855,305.04 1,113,133.33
------------------------------------------------------------------------------------------------------------------------------
Commissions 548,963.99 665,864.96 509,460.70 1,724,289.65 448,767.69
------------------------------------------------------------------------------------------------------------------------------
Foreign currency operations -4,122.82 3,312.45 -188.10 -998.47 -5,276.39
------------------------------------------------------------------------------------------------------------------------------
Other Income 29,184.57 -228,574.10 331,403.39 132,013.86 669,642.03
------------------------------------------------------------------------------------------------------------------------------
Operating Income 4,624,788.35 3,058,283.20 4,092,029.10 11,775,100.65 5,525,819.75
------------------------------------------------------------------------------------------------------------------------------
Operating Expenses 1,845,294.21 -262,208.98 75,177.76 1,658,262.99 1,834,744.28
------------------------------------------------------------------------------------------------------------------------------
Administrative expenses 1,019,194.48 989,036.77 1,142,090.66 3,150,321.91 1,081,277.48
------------------------------------------------------------------------------------------------------------------------------
General expenses 149,318.22 313,300.33 258,581.00 721,199.55 461,578.86
------------------------------------------------------------------------------------------------------------------------------
Depreciation 119,749.86 113,223.73 121,469.30 354,442.89 114,761.87
------------------------------------------------------------------------------------------------------------------------------
Other expenses 557,031.65 -1,677,769.81 -1,446,963.20 -2,567,701.36 177,126.07
------------------------------------------------------------------------------------------------------------------------------
Net Income before provision for
loan losses 2,779,494.14 3,320,492.18 4,016,851.34 10,116,837.66 3,691,075.47
------------------------------------------------------------------------------------------------------------------------------
Provision for loan losses -7,813,682.87 -3,878,544.87 -6,544,167.05 -18,236,394.79 0.00
------------------------------------------------------------------------------------------------------------------------------
Net Income 10,593,177.01 7,199,037.05 10,561,018.39 28,353,232.45 3,691,075.47
------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------
Description May June II Quarter July August
------------------------------------------------------------------------------------------------------------------------------
Interest Income 4,264,633.98 4,805,777.19 15,451,380.38 5,956,173.81 5,166,109.73
------------------------------------------------------------------------------------------------------------------------------
Loans 3,739,030.99 4,260,070.42 13,862,238.01 5,163,280.23 4,542,470.61
------------------------------------------------------------------------------------------------------------------------------
Deposits 125,544.66 155,602.07 399,097.63 214,359.27 249,705.79
------------------------------------------------------------------------------------------------------------------------------
Investments 400,058.33 390,104.70 1,190,044.74 578,534.31 373,933.33
------------------------------------------------------------------------------------------------------------------------------
Interest Expense 1,574,042.61 2,216,807.28 5,759,132.68 2,330,486.54 2,217,689.27
------------------------------------------------------------------------------------------------------------------------------
Interest 1,573,928.57 2,192,519.50 5,733,534.88 2,329,681.19 2,207,240.49
------------------------------------------------------------------------------------------------------------------------------
Commissions 114.04 24,287.78 25,597.80 805.35 10,448.78
------------------------------------------------------------------------------------------------------------------------------
Net Interest Income 2,690,591.37 2,588,969.91 9,692,247.70 3,625,687.27 2,948,420.46
------------------------------------------------------------------------------------------------------------------------------
Other Income -433,346.43 844,248.66 1,524,035.56 521,012.50 553,427.79
------------------------------------------------------------------------------------------------------------------------------
Commissions 534,153.82 489,646.56 1,472,568.07 470,706.87 532,085.51
------------------------------------------------------------------------------------------------------------------------------
Foreign currency operations -221,370.05 9,394.48 -217,251.96 4,346.44 9,062.27
------------------------------------------------------------------------------------------------------------------------------
Other Income -746,130.20 345,207.62 268,719.45 45,959.19 12,280.01
------------------------------------------------------------------------------------------------------------------------------
Operating Income 2,257,244.94 3,433,218.57 11,216,283.26 4,146,699.77 3,501,848.25
------------------------------------------------------------------------------------------------------------------------------
Operating Expenses 853,496.71 6,189,508.90 8,877,749.89 1,959,913.45 3,998,620.76
------------------------------------------------------------------------------------------------------------------------------
Administrative expenses 1,121,934.67 1,350,628.36 3,553,840.51 1,217,381.40 1,007,599.62
------------------------------------------------------------------------------------------------------------------------------
General expenses 384,344.75 388,900.71 1,234,824.32 425,342.92 355,190.17
------------------------------------------------------------------------------------------------------------------------------
Depreciation 108,282.02 111,227.05 334,270.94 139,814.92 95,478.93
------------------------------------------------------------------------------------------------------------------------------
Other expenses -761,064.73 4,338,752.78 3,754,814.12 177,374.21 2,540,352.04
------------------------------------------------------------------------------------------------------------------------------
Net Income before provision for
loan losses 1,403,748.23 -2,756,290.33 2,338,533.37 2,186,786.32 -496,772.51
------------------------------------------------------------------------------------------------------------------------------
Provision for loan losses -11,715,126.22 -7,907,105.61 -19,622,231.83 0.00 -15,444,186.71
------------------------------------------------------------------------------------------------------------------------------
Net Income 13,118,874.45 5,150,815.28 21,960,765.20 2,186,786.32 14,947,414.20
------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------------
Description September III Quarter October November December
----------------------------------------------------------------------------------------------------------------------------------
Interest Income 11,122,283.54
----------------------------------------------------------------------------------------------------------------------------------
Loans 9,705,750.84
----------------------------------------------------------------------------------------------------------------------------------
Deposits 464,065.06
----------------------------------------------------------------------------------------------------------------------------------
Investments 952,467.64
----------------------------------------------------------------------------------------------------------------------------------
Interest Expense 4,548,175.81
----------------------------------------------------------------------------------------------------------------------------------
Interest 4,536,921.68
----------------------------------------------------------------------------------------------------------------------------------
Commissions 11,254.13
----------------------------------------------------------------------------------------------------------------------------------
Net Interest Income 6,574,107.73
----------------------------------------------------------------------------------------------------------------------------------
Other Income 1,074,440.29
----------------------------------------------------------------------------------------------------------------------------------
Commissions 1,002,792.38
----------------------------------------------------------------------------------------------------------------------------------
Foreign currency operations 13,408.71
----------------------------------------------------------------------------------------------------------------------------------
Other Income 58,239.20
----------------------------------------------------------------------------------------------------------------------------------
Operating Income 7,648,548.02
----------------------------------------------------------------------------------------------------------------------------------
Operating Expenses 5,958,534.21
----------------------------------------------------------------------------------------------------------------------------------
Administrative expenses 2,224,981.02
----------------------------------------------------------------------------------------------------------------------------------
General expenses 780,533.09
----------------------------------------------------------------------------------------------------------------------------------
Depreciation 235,293.85
----------------------------------------------------------------------------------------------------------------------------------
Other expenses 2,717,726.25
----------------------------------------------------------------------------------------------------------------------------------
Net Income before provision for
loan losses 1,690,013.81
----------------------------------------------------------------------------------------------------------------------------------
Provision for loan losses -15,444,186.71
----------------------------------------------------------------------------------------------------------------------------------
Net Income 17,134,200.52
----------------------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------
Description IV Quarter Year to date
---------------------------------------------------------------------------
Interest Income 0.00 43,783,109.41
---------------------------------------------------------------------------
Loans 0.00 38,867,126.38
---------------------------------------------------------------------------
Deposits 0.00 1,344,081.75
---------------------------------------------------------------------------
Investments 0.00 3,571,901.28
---------------------------------------------------------------------------
Interest Expense 0.00 17,596,958.37
---------------------------------------------------------------------------
Interest 0.00 17,511,625.79
---------------------------------------------------------------------------
Commissions 0.00 85,332.58
---------------------------------------------------------------------------
Net Interest Income 0.00 26,186,151.04
---------------------------------------------------------------------------
Other Income 0.00 4,453,780.89
---------------------------------------------------------------------------
Commissions 0.00 4,199,650.10
---------------------------------------------------------------------------
Foreign currency operations 0.00 -204,841.72
---------------------------------------------------------------------------
Other Income 0.00 458,972.51
---------------------------------------------------------------------------
Operating Income 0.00 30,639,931.93
---------------------------------------------------------------------------
Operating Expenses 0.00 16,494,547.09
---------------------------------------------------------------------------
Administrative expenses 0.00 8,929,143.44
---------------------------------------------------------------------------
General expenses 0.00 2,736,556.96
---------------------------------------------------------------------------
Depreciation 0.00 924,007.68
---------------------------------------------------------------------------
Other expenses 0.00 3,904,839.01
---------------------------------------------------------------------------
Net Income before provision for
loan losses 0.00 14,145,384.84
---------------------------------------------------------------------------
Provision for loan losses 0.00 -53,302,813.33
---------------------------------------------------------------------------
Net Income 0.00 67,448,198.17
---------------------------------------------------------------------------
* 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 Panama Superintendencia de Bancos (website:
http://www.superbancos.gob.pa).
21 de septiembre de 2004
BANCO LATINOAMERICANO DE EXPORTACIONES
BALANCE DE SITUACION DE DICIEMBRE 2003 Y ENERO - AGOSTO 2004
(En Balboas)
{LOGO]
------------------------------------------------------------------------------------------------------------------------------
2003 2004
------------------------------------------------------------------------------------------------------------------------------
Descripcion Absoluta % Diciembre Enero Febrero
------------------------------------------------------------------------------------------------------------------------------
ACTIVOS LIQUIDOS -60,606,629.42 -31.76 190,799,943.18 192,064,648.30 234,316,239.13
------------------------------------------------------------------------------------------------------------------------------
Depositos Locales en Bancos -4,010.63 -2.59 154,867.09 148,473.17 172,395.85
------------------------------------------------------------------------------------------------------------------------------
A la Vista -4,010.63 -2.59 154,867.09 148,473.17 172,395.85
------------------------------------------------------------------------------------------------------------------------------
A Plazo 0.00 0.00 0.00 0.00 0.00
------------------------------------------------------------------------------------------------------------------------------
Depositos Extranjeros en Bancos -60,592,649.14 -31.80 190,519,519.42 191,777,453.20 234,061,676.10
------------------------------------------------------------------------------------------------------------------------------
A la Vista 2,206,386.97 306.24 720,483.31 3,182,508.52 2,934,580.72
------------------------------------------------------------------------------------------------------------------------------
A Plazo -62,799,036.11 -33.09 189,799,036.11 188,594,944.68 231,127,095.38
------------------------------------------------------------------------------------------------------------------------------
Menos Provisiones 0.00 0.00 0.00 0.00 0.00
------------------------------------------------------------------------------------------------------------------------------
Locales 0.00 0.00 0.00 0.00 0.00
------------------------------------------------------------------------------------------------------------------------------
Extranjero 0.00 0.00 0.00 0.00 0.00
------------------------------------------------------------------------------------------------------------------------------
Otros -9,969.65 -7.94 125,556.67 138,721.93 82,167.18
------------------------------------------------------------------------------------------------------------------------------
CARTERA CREDITICIA -229,198,297.89 -13.21 1,735,136,671.38 1,729,608,465.58 1,677,488,314.06
------------------------------------------------------------------------------------------------------------------------------
Locales -25,680,122.35 -8.10 317,093,669.48 267,845,944.48 272,595,944.48
------------------------------------------------------------------------------------------------------------------------------
Extranjero -257,655,735.34 -15.72 1,639,451,762.43 1,675,357,598.76 1,614,608,902.37
------------------------------------------------------------------------------------------------------------------------------
Menos Provisiones -54,137,559.80 -24.45 221,408,760.53 213,595,077.66 209,716,532.79
------------------------------------------------------------------------------------------------------------------------------
Locales -30,008,578.39 -28.35 105,866,145.18 100,059,570.12 95,403,704.25
------------------------------------------------------------------------------------------------------------------------------
Extranjero -24,128,981.41 -20.88 115,542,615.35 113,535,507.54 114,312,828.54
------------------------------------------------------------------------------------------------------------------------------
INVERSIONES EN VALORES 6,295,567.48 5.61 112,295,247.89 111,905,462.66 111,673,317.31
------------------------------------------------------------------------------------------------------------------------------
Locales 0.00 0.00 0.00 0.00 0.00
------------------------------------------------------------------------------------------------------------------------------
Extranjero 6,295,567.48 5.61 112,295,247.89 111,905,462.66 111,673,317.31
------------------------------------------------------------------------------------------------------------------------------
Menos Provisiones 0.00 0.00 0.00 0.00 0.00
------------------------------------------------------------------------------------------------------------------------------
Locales 0.00 0.00 0.00 0.00 0.00
------------------------------------------------------------------------------------------------------------------------------
Extranjero 0.00 0.00 0.00 0.00 0.00
------------------------------------------------------------------------------------------------------------------------------
OTROS ACTIVOS 16,673,538.53 32.77 50,888,083.69 64,583,832.22 63,669,397.02
------------------------------------------------------------------------------------------------------------------------------
Locales 46,761.83 0.76 6,170,009.76 5,967,530.86 6,004,000.34
------------------------------------------------------------------------------------------------------------------------------
Extranjero 16,626,776.70 37.18 44,718,073.93 58,616,301.36 57,665,396.68
------------------------------------------------------------------------------------------------------------------------------
TOTAL DE ACTIVOS -266,835,821.30 -12.77 2,089,119,946.14 2,098,162,408.76 2,087,147,267.52
------------------------------------------------------------------------------------------------------------------------------
DEPOSITOS 9,688,326.19 1.88 514,414,316.03 518,360,985.90 521,737,597.31
------------------------------------------------------------------------------------------------------------------------------
Locales -21,536,241.31 -49.41 43,587,485.58 45,390,804.32 42,062,496.54
------------------------------------------------------------------------------------------------------------------------------
Oficiales 0.00 0.00 0.00 0.00 0.00
------------------------------------------------------------------------------------------------------------------------------
De Particuales 0.00 0.00 0.00 0.00 0.00
------------------------------------------------------------------------------------------------------------------------------
A la Vista 0.00 0.00 0.00 0.00 0.00
------------------------------------------------------------------------------------------------------------------------------
A Plazo 0.00 0.00 0.00 0.00 0.00
------------------------------------------------------------------------------------------------------------------------------
De Ahorros 0.00 0.00 0.00 0.00 0.00
------------------------------------------------------------------------------------------------------------------------------
De Bancos -21,536,241.31 -49.41 43,587,485.58 45,390,804.32 42,062,496.54
------------------------------------------------------------------------------------------------------------------------------
A la Vista 1,402,705.12 30.52 4,595,824.32 6,094,329.66 6,101,933.23
------------------------------------------------------------------------------------------------------------------------------
A Plazo -22,938,946.43 -58.83 38,991,661.26 39,296,474.66 35,960,563.31
------------------------------------------------------------------------------------------------------------------------------
Extranjero 31,224,567.50 6.63 470,826,830.45 472,970,181.58 479,675,100.77
------------------------------------------------------------------------------------------------------------------------------
Oficiales 0.00 0.00 0.00 0.00 0.00
------------------------------------------------------------------------------------------------------------------------------
De Particulares -108,867,572.19 -75.57 144,069,723.19 99,357,945.44 87,518,635.29
------------------------------------------------------------------------------------------------------------------------------
A la Vista -2,193,710.46 -64.60 3,395,861.46 1,757,945.44 3,518,635.29
------------------------------------------------------------------------------------------------------------------------------
A Plazo -106,673,861.73 -75.83 140,673,861.73 97,600,000.00 84,000,000.00
------------------------------------------------------------------------------------------------------------------------------
De Ahorros 0.00 0.00 0.00 0.00 0.00
------------------------------------------------------------------------------------------------------------------------------
De Bancos 140,092,139.69 42.87 326,757,107.26 373,612,236.14 392,156,465.48
------------------------------------------------------------------------------------------------------------------------------
A la Vista -2,155,816.20 -19.42 11,100,547.00 14,459,263.26 10,376,666.71
------------------------------------------------------------------------------------------------------------------------------
A Plazo 142,247,955.89 45.06 315,656,560.26 359,152,972.88 381,779,798.77
------------------------------------------------------------------------------------------------------------------------------
OBLIGACIONES -339,166,441.53 -33.22 1,020,959,382.93 1,004,876,078.51 981,368,587.28
------------------------------------------------------------------------------------------------------------------------------
Locales -638,865.20 -2.96 21,603,810.80 21,603,810.80 21,603,810.80
------------------------------------------------------------------------------------------------------------------------------
Extranjero -338,527,576.33 -33.87 999,355,572.13 983,272,267.71 959,764,776.48
------------------------------------------------------------------------------------------------------------------------------
OTROS PASIVOS 3,386,223.68 3.50 96,619,215.59 107,357,098.15 109,077,967.55
------------------------------------------------------------------------------------------------------------------------------
Locales -27,356,452.33 -90.14 30,347,173.08 31,567,311.00 35,806,705.76
------------------------------------------------------------------------------------------------------------------------------
Extranjero 30,742,676.01 46.39 66,272,042.51 75,789,787.15 73,271,261.79
------------------------------------------------------------------------------------------------------------------------------
PATRIMONIO 59,256,070.36 12.96 457,127,031.59 467,568,246.20 474,963,115.38
------------------------------------------------------------------------------------------------------------------------------
Capital -6.37 0.00 328,225,212.57 328,225,212.57 328,225,212.57
------------------------------------------------------------------------------------------------------------------------------
Reservas de Capital 0.00 0.00 16,609,728.78 16,609,728.78 16,609,728.78
------------------------------------------------------------------------------------------------------------------------------
Otras Reservas 0.00 0.00 0.00 0.00 0.00
------------------------------------------------------------------------------------------------------------------------------
Utilidad de Periodos Anteriores 93,880,817.32 14,128.06 664,499.09 102,415,864.02 102,415,864.02
------------------------------------------------------------------------------------------------------------------------------
Utilidad de Periodo -34,187,624.93 -33.60 101,751,364.93 10,593,177.01 17,792,214.06
------------------------------------------------------------------------------------------------------------------------------
Ganancia o Perdida en Valores
Disponible para la venta -437,115.66 -4.43 9,876,226.22 9,724,263.82 9,920,095.95
------------------------------------------------------------------------------------------------------------------------------
PASIVO Y PATRIMONIO -266,835,821.30 -12.77 2,089,119,946.14 2,098,162,408.76 2,087,147,267.52
------------------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------------------
2004
---------------------------------------------------------------------------------------------------------------------------------
Descripcion Marzo Abril Mayo Junio Julio
---------------------------------------------------------------------------------------------------------------------------------
ACTIVOS LIQUIDOS 132,229,195.34 145,258,460.44 153,847,073.92 189,637,852.74 213,403,425.29
---------------------------------------------------------------------------------------------------------------------------------
Depositos Locales en Bancos 148,973.07 151,332.83 804,092.05 161,327.61 151,562.45
---------------------------------------------------------------------------------------------------------------------------------
A la Vista 148,973.07 151,332.83 804,092.05 161,327.61 151,562.45
---------------------------------------------------------------------------------------------------------------------------------
A Plazo 0.00 0.00 0.00 0.00 0.00
---------------------------------------------------------------------------------------------------------------------------------
Depositos Extranjeros en Bancos 131,933,367.96 144,997,230.65 152,964,580.58 189,407,623.34 213,040,396.13
---------------------------------------------------------------------------------------------------------------------------------
A la Vista 2,833,367.96 2,797,230.65 1,764,580.58 1,707,623.34 41,240,396.13
---------------------------------------------------------------------------------------------------------------------------------
A Plazo 129,100,000.00 142,200,000.00 151,200,000.00 187,700,000.00 171,800,000.00
---------------------------------------------------------------------------------------------------------------------------------
Menos Provisiones 0.00 0.00 0.00 0.00 0.00
---------------------------------------------------------------------------------------------------------------------------------
Locales 0.00 0.00 0.00 0.00 0.00
---------------------------------------------------------------------------------------------------------------------------------
Extranjero 0.00 0.00 0.00 0.00 0.00
---------------------------------------------------------------------------------------------------------------------------------
Otros 146,854.31 109,896.96 78,401.29 68,901.79 211,466.71
---------------------------------------------------------------------------------------------------------------------------------
CARTERA CREDITICIA 1,645,045,191.99 1,636,216,654.95 1,688,616,702.20 1,714,260,384.06 1,490,931,500.86
---------------------------------------------------------------------------------------------------------------------------------
Locales 229,095,944.48 216,669,034.48 270,019,003.28 307,018,881.24 293,413,671.09
---------------------------------------------------------------------------------------------------------------------------------
Extranjero 1,618,861,331.92 1,622,042,679.67 1,609,276,465.16 1,590,971,592.77 1,381,268,501.02
---------------------------------------------------------------------------------------------------------------------------------
Menos Provisiones 202,912,084.41 202,495,059.20 190,678,766.24 183,730,089.95 183,750,671.25
---------------------------------------------------------------------------------------------------------------------------------
Locales 93,512,343.92 88,127,539.49 85,023,960.29 81,357,676.95 76,322,107.65
---------------------------------------------------------------------------------------------------------------------------------
Extranjero 109,399,740.49 114,367,519.71 105,654,805.95 102,372,413.00 107,428,563.60
---------------------------------------------------------------------------------------------------------------------------------
INVERSIONES EN VALORES 112,447,442.98 110,568,084.48 109,614,880.51 106,486,356.60 103,416,671.19
---------------------------------------------------------------------------------------------------------------------------------
Locales 0.00 0.00 0.00 0.00 0.00
---------------------------------------------------------------------------------------------------------------------------------
Extranjero 112,447,442.98 110,568,084.48 109,614,880.51 106,486,356.60 103,416,671.19
---------------------------------------------------------------------------------------------------------------------------------
Menos Provisiones 0.00 0.00 0.00 0.00 0.00
---------------------------------------------------------------------------------------------------------------------------------
Locales 0.00 0.00 0.00 0.00 0.00
---------------------------------------------------------------------------------------------------------------------------------
Extranjero 0.00 0.00 0.00 0.00 0.00
---------------------------------------------------------------------------------------------------------------------------------
OTROS ACTIVOS 61,241,400.29 72,747,194.07 70,673,887.44 70,416,358.73 46,565,866.10
---------------------------------------------------------------------------------------------------------------------------------
Locales 5,069,422.26 4,919,303.22 5,134,214.91 6,093,325.52 6,197,247.69
---------------------------------------------------------------------------------------------------------------------------------
Extranjero 56,171,978.03 67,827,890.85 65,539,672.53 64,323,033.21 40,368,618.41
---------------------------------------------------------------------------------------------------------------------------------
TOTAL DE ACTIVOS 1,950,963,230.60 1,964,790,393.94 2,022,752,544.07 2,080,800,952.13 1,854,317,463.44
---------------------------------------------------------------------------------------------------------------------------------
DEPOSITOS 535,697,217.51 538,834,533.58 582,122,023.34 669,596,704.02 537,955,464.21
---------------------------------------------------------------------------------------------------------------------------------
Locales 36,870,785.38 40,381,089.05 42,482,045.73 40,401,692.21 20,666,566.29
---------------------------------------------------------------------------------------------------------------------------------
Oficiales 0.00 0.00 0.00 0.00 0.00
---------------------------------------------------------------------------------------------------------------------------------
De Particuales 0.00 0.00 0.00 0.00 0.00
---------------------------------------------------------------------------------------------------------------------------------
A la Vista 0.00 0.00 0.00 0.00 0.00
---------------------------------------------------------------------------------------------------------------------------------
A Plazo 0.00 0.00 0.00 0.00 0.00
---------------------------------------------------------------------------------------------------------------------------------
De Ahorros 0.00 0.00 0.00 0.00 0.00
---------------------------------------------------------------------------------------------------------------------------------
De Bancos 36,870,785.38 40,381,089.05 42,482,045.73 40,401,692.21 20,666,566.29
---------------------------------------------------------------------------------------------------------------------------------
A la Vista 5,906,842.96 8,412,221.10 7,417,202.75 4,421,814.59 4,925,918.91
---------------------------------------------------------------------------------------------------------------------------------
A Plazo 30,963,942.42 31,968,867.95 35,064,842.98 35,979,877.62 15,740,647.38
---------------------------------------------------------------------------------------------------------------------------------
Extranjero 498,826,432.13 498,453,444.53 539,639,977.61 629,195,011.81 517,288,897.92
---------------------------------------------------------------------------------------------------------------------------------
Oficiales 0.00 0.00 0.00 0.00 0.00
---------------------------------------------------------------------------------------------------------------------------------
De Particulares 108,117,642.12 87,773,923.14 45,534,928.45 52,037,811.07 39,540,506.56
---------------------------------------------------------------------------------------------------------------------------------
A la Vista 5,117,642.12 1,773,923.14 1,534,928.45 1,536,131.07 1,540,506.56
---------------------------------------------------------------------------------------------------------------------------------
A Plazo 103,000,000.00 86,000,000.00 44,000,000.00 50,501,680.00 38,000,000.00
---------------------------------------------------------------------------------------------------------------------------------
De Ahorros 0.00 0.00 0.00 0.00 0.00
---------------------------------------------------------------------------------------------------------------------------------
De Bancos 390,708,790.01 410,679,521.39 494,105,049.16 577,157,200.74 477,748,391.36
---------------------------------------------------------------------------------------------------------------------------------
A la Vista 9,899,421.12 10,096,380.61 11,761,030.48 10,387,983.75 8,583,231.66
---------------------------------------------------------------------------------------------------------------------------------
A Plazo 380,809,368.89 400,583,140.78 482,344,018.68 566,769,216.99 469,165,159.70
---------------------------------------------------------------------------------------------------------------------------------
OBLIGACIONES 831,663,808.85 835,118,294.17 817,166,704.50 802,651,839.32 726,928,902.58
---------------------------------------------------------------------------------------------------------------------------------
Locales 21,633,511.00 21,633,511.00 20,961,247.80 20,964,945.60 20,964,945.60
---------------------------------------------------------------------------------------------------------------------------------
Extranjero 810,030,297.85 813,484,783.17 796,205,456.70 781,686,893.72 705,963,956.98
---------------------------------------------------------------------------------------------------------------------------------
OTROS PASIVOS 100,999,864.50 105,319,160.85 125,660,212.69 109,764,565.96 88,319,498.56
---------------------------------------------------------------------------------------------------------------------------------
Locales 26,668,458.77 26,505,714.53 52,876,428.71 29,275,648.24 9,425,978.05
---------------------------------------------------------------------------------------------------------------------------------
Extranjero 74,331,405.73 78,813,446.32 72,783,783.98 80,488,917.72 78,893,520.51
---------------------------------------------------------------------------------------------------------------------------------
PATRIMONIO 482,602,339.74 485,518,405.34 497,803,603.54 498,787,842.83 501,113,598.09
---------------------------------------------------------------------------------------------------------------------------------
Capital 328,225,212.57 328,225,206.20 328,225,206.20 328,225,206.20 328,225,206.20
---------------------------------------------------------------------------------------------------------------------------------
Reservas de Capital 16,609,728.78 16,609,728.78 16,609,728.78 16,609,728.78 16,609,728.78
---------------------------------------------------------------------------------------------------------------------------------
Otras Reservas 0.00 0.00 0.00 0.00 0.00
---------------------------------------------------------------------------------------------------------------------------------
Utilidad de Periodos Anteriores 98,480,590.21 98,480,590.21 98,480,590.21 94,545,316.43 94,545,316.43
---------------------------------------------------------------------------------------------------------------------------------
Utilidad de Periodo 28,353,232.45 32,044,307.92 45,163,182.37 50,313,997.65 52,616,325.79
---------------------------------------------------------------------------------------------------------------------------------
Ganancia o Perdida en Valores
Disponible para la venta 10,933,575.73 10,158,572.23 9,324,895.98 9,093,593.77 9,117,020.89
---------------------------------------------------------------------------------------------------------------------------------
PASIVO Y PATRIMONIO 1,950,963,230.60 1,964,790,393.94 2,022,752,544.07 2,080,800,952.13 1,854,317,463.44
---------------------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------------------
2004
---------------------------------------------------------------------------------------------------------------------------------
Descripcion Agosto Septiembre Octubre Noviembre Diciembre
---------------------------------------------------------------------------------------------------------------------------------
ACTIVOS LIQUIDOS 130,193,313.76
---------------------------------------------------------------------------------------------------------------------------------
Depositos Locales en Bancos 150,856.46
---------------------------------------------------------------------------------------------------------------------------------
A la Vista 150,856.46
---------------------------------------------------------------------------------------------------------------------------------
A Plazo 0.00
---------------------------------------------------------------------------------------------------------------------------------
Depositos Extranjeros en Bancos 129,926,870.28
---------------------------------------------------------------------------------------------------------------------------------
A la Vista 2,926,870.28
---------------------------------------------------------------------------------------------------------------------------------
A Plazo 127,000,000.00
---------------------------------------------------------------------------------------------------------------------------------
Menos Provisiones 0.00
---------------------------------------------------------------------------------------------------------------------------------
Locales 0.00
---------------------------------------------------------------------------------------------------------------------------------
Extranjero 0.00
---------------------------------------------------------------------------------------------------------------------------------
Otros 115,587.02
---------------------------------------------------------------------------------------------------------------------------------
CARTERA CREDITICIA 1,505,938,373.49
---------------------------------------------------------------------------------------------------------------------------------
Locales 291,413,547.13
---------------------------------------------------------------------------------------------------------------------------------
Extranjero 1,381,796,027.09
---------------------------------------------------------------------------------------------------------------------------------
Menos Provisiones 167,271,200.73
---------------------------------------------------------------------------------------------------------------------------------
Locales 75,857,566.79
---------------------------------------------------------------------------------------------------------------------------------
Extranjero 91,413,633.94
---------------------------------------------------------------------------------------------------------------------------------
INVERSIONES EN VALORES 118,590,815.37
---------------------------------------------------------------------------------------------------------------------------------
Locales 0.00
---------------------------------------------------------------------------------------------------------------------------------
Extranjero 118,590,815.37
---------------------------------------------------------------------------------------------------------------------------------
Menos Provisiones 0.00
---------------------------------------------------------------------------------------------------------------------------------
Locales 0.00
---------------------------------------------------------------------------------------------------------------------------------
Extranjero 0.00
---------------------------------------------------------------------------------------------------------------------------------
OTROS ACTIVOS 67,561,622.22
---------------------------------------------------------------------------------------------------------------------------------
Locales 6,216,771.59
---------------------------------------------------------------------------------------------------------------------------------
Extranjero 61,344,850.63
---------------------------------------------------------------------------------------------------------------------------------
TOTAL DE ACTIVOS 1,822,284,124.84
---------------------------------------------------------------------------------------------------------------------------------
DEPOSITOS 524,102,642.22
---------------------------------------------------------------------------------------------------------------------------------
Locales 22,051,244.27
---------------------------------------------------------------------------------------------------------------------------------
Oficiales 0.00
---------------------------------------------------------------------------------------------------------------------------------
De Particuales 0.00
---------------------------------------------------------------------------------------------------------------------------------
A la Vista 0.00
---------------------------------------------------------------------------------------------------------------------------------
A Plazo 0.00
---------------------------------------------------------------------------------------------------------------------------------
De Ahorros 0.00
---------------------------------------------------------------------------------------------------------------------------------
De Bancos 22,051,244.27
---------------------------------------------------------------------------------------------------------------------------------
A la Vista 5,998,529.44
---------------------------------------------------------------------------------------------------------------------------------
A Plazo 16,052,714.83
---------------------------------------------------------------------------------------------------------------------------------
Extranjero 502,051,397.95
---------------------------------------------------------------------------------------------------------------------------------
Oficiales 0.00
---------------------------------------------------------------------------------------------------------------------------------
De Particulares 35,202,151.00
---------------------------------------------------------------------------------------------------------------------------------
A la Vista 1,202,151.00
---------------------------------------------------------------------------------------------------------------------------------
A Plazo 34,000,000.00
---------------------------------------------------------------------------------------------------------------------------------
De Ahorros 0.00
---------------------------------------------------------------------------------------------------------------------------------
De Bancos 466,849,246.95
---------------------------------------------------------------------------------------------------------------------------------
A la Vista 8,944,730.80
---------------------------------------------------------------------------------------------------------------------------------
A Plazo 457,904,516.15
---------------------------------------------------------------------------------------------------------------------------------
OBLIGACIONES 681,792,941.40
---------------------------------------------------------------------------------------------------------------------------------
Locales 20,964,945.60
---------------------------------------------------------------------------------------------------------------------------------
Extranjero 660,827,995.80
---------------------------------------------------------------------------------------------------------------------------------
OTROS PASIVOS 100,005,439.27
---------------------------------------------------------------------------------------------------------------------------------
Locales 2,990,720.75
---------------------------------------------------------------------------------------------------------------------------------
Extranjero 97,014,718.52
---------------------------------------------------------------------------------------------------------------------------------
PATRIMONIO 516,383,101.95
---------------------------------------------------------------------------------------------------------------------------------
Capital 328,225,206.20
---------------------------------------------------------------------------------------------------------------------------------
Reservas de Capital 16,609,728.78
---------------------------------------------------------------------------------------------------------------------------------
Otras Reservas 0.00
---------------------------------------------------------------------------------------------------------------------------------
Utilidad de Periodos Anteriores 94,545,316.41
---------------------------------------------------------------------------------------------------------------------------------
Utilidad de Periodo 67,563,740.00
---------------------------------------------------------------------------------------------------------------------------------
Ganancia o Perdida en Valores
Disponible para la venta 9,439,110.56
---------------------------------------------------------------------------------------------------------------------------------
PASIVO Y PATRIMONIO 1,822,284,124.84
---------------------------------------------------------------------------------------------------------------------------------
21 de septiembre de 2004
BANCO LATINOAMERICANO DE EXPORTACIONES, S.A.
ENERO - AGOSTO 2004
(En Balboas)
[LOGO]
-------------------------------------------------------------------------------------------------------------------
Descripcion Enero Febrero Marzo Trimestre I Abril
-------------------------------------------------------------------------------------------------------------------
Ingresos Por Intereses 6,554,346.26 4,920,235.16 5,734,864.07 17,209,445.49 6,380,969.21
-------------------------------------------------------------------------------------------------------------------
Prestamos 5,806,089.31 4,357,928.60 5,135,119.62 15,299,137.53 5,863,136.60
-------------------------------------------------------------------------------------------------------------------
Depositos 134,326.48 151,395.63 195,196.95 480,919.06 117,950.90
-------------------------------------------------------------------------------------------------------------------
Inversiones 613,930.47 410,910.93 404,547.50 1,429,388.90 399,881.71
-------------------------------------------------------------------------------------------------------------------
Egresos de Operaciones 2,503,583.65 2,302,555.27 2,483,510.96 7,289,649.88 1,968,282.79
-------------------------------------------------------------------------------------------------------------------
Intereses Pagados 2,463,551.58 2,289,995.94 2,487,621.71 7,241,169.23 1,967,086.81
-------------------------------------------------------------------------------------------------------------------
Comisiones 40,032.07 12,559.33 -4,110.75 48,480.65 1,195.98
-------------------------------------------------------------------------------------------------------------------
Ingreso Neto de Intereses 4,050,762.61 2,617,679.89 3,251,353.11 9,919,795.61 4,412,686.42
-------------------------------------------------------------------------------------------------------------------
Otros Ingresos 574,025.74 440,603.31 840,675.99 1,855,305.04 1,113,133.33
-------------------------------------------------------------------------------------------------------------------
Comisiones 548,963.99 665,864.96 509,460.70 1,724,289.65 448,767.69
-------------------------------------------------------------------------------------------------------------------
Operaciones con Divisas -4,122.82 3,312.45 -188.10 -998.47 -5,276.39
-------------------------------------------------------------------------------------------------------------------
Otros ingresos 29,184.57 -228,574.10 331,403.39 132,013.86 669,642.03
-------------------------------------------------------------------------------------------------------------------
Ingresos de Operaciones 4,624,788.35 3,058,283.20 4,092,029.10 11,775,100.65 5,525,819.75
-------------------------------------------------------------------------------------------------------------------
Egresos Generales 1,845,294.21 -262,208.98 75,177.76 1,658,262.99 1,834,744.28
-------------------------------------------------------------------------------------------------------------------
Gastos Administrativos 1,019,194.48 989,036.77 1,142,090.66 3,150,321.91 1,081,277.48
-------------------------------------------------------------------------------------------------------------------
Gastos Generales 149,318.22 313,300.33 258,581.00 721,199.55 461,578.86
-------------------------------------------------------------------------------------------------------------------
Gastos de Depreciacion 119,749.86 113,223.73 121,469.30 354,442.89 114,761.87
-------------------------------------------------------------------------------------------------------------------
Otros Gastos 557,031.65 -1,677,769.81 -1,446,963.20 -2,567,701.36 177,126.07
-------------------------------------------------------------------------------------------------------------------
Utilidad antes de Provisiones 2,779,494.14 3,320,492.18 4,016,851.34 10,116,837.66 3,691,075.47
-------------------------------------------------------------------------------------------------------------------
Provisiones por Cuentas Malas -7,813,682.87 -3,878,544.87 -6,544,167.05 -18,236,394.79 0.00
-------------------------------------------------------------------------------------------------------------------
Utilidad del Periodo 10,593,177.01 7,199,037.05 10,561,018.39 28,353,232.45 3,691,075.47
-------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------
Descripcion Mayo Junio Trimestre II Julio Agosto
---------------------------------------------------------------------------------------------------------------------
Ingresos Por Intereses 4,264,633.98 4,805,777.19 15,451,380.38 5,956,173.81 5,166,109.73
---------------------------------------------------------------------------------------------------------------------
Prestamos 3,739,030.99 4,260,070.42 13,862,238.01 5,163,280.23 4,542,470.61
---------------------------------------------------------------------------------------------------------------------
Depositos 125,544.66 155,602.07 399,097.63 214,359.27 249,705.79
---------------------------------------------------------------------------------------------------------------------
Inversiones 400,058.33 390,104.70 1,190,044.74 578,534.31 373,933.33
---------------------------------------------------------------------------------------------------------------------
Egresos de Operaciones 1,574,042.61 2,216,807.28 5,759,132.68 2,330,486.54 2,217,689.27
---------------------------------------------------------------------------------------------------------------------
Intereses Pagados 1,573,928.57 2,192,519.50 5,733,534.88 2,329,681.19 2,207,240.49
---------------------------------------------------------------------------------------------------------------------
Comisiones 114.04 24,287.78 25,597.80 805.35 10,448.78
---------------------------------------------------------------------------------------------------------------------
Ingreso Neto de Intereses 2,690,591.37 2,588,969.91 9,692,247.70 3,625,687.27 2,948,420.46
---------------------------------------------------------------------------------------------------------------------
Otros Ingresos -433,346.43 844,248.66 1,524,035.56 521,012.50 553,427.79
---------------------------------------------------------------------------------------------------------------------
Comisiones 534,153.82 489,646.56 1,472,568.07 470,706.87 532,085.51
---------------------------------------------------------------------------------------------------------------------
Operaciones con Divisas -221,370.05 9,394.48 -217,251.96 4,346.44 9,062.27
---------------------------------------------------------------------------------------------------------------------
Otros ingresos -746,130.20 345,207.62 268,719.45 45,959.19 12,280.01
---------------------------------------------------------------------------------------------------------------------
Ingresos de Operaciones 2,257,244.94 3,433,218.57 11,216,283.26 4,146,699.77 3,501,848.25
---------------------------------------------------------------------------------------------------------------------
Egresos Generales 853,496.71 6,189,508.90 8,877,749.89 1,959,913.45 3,998,620.76
---------------------------------------------------------------------------------------------------------------------
Gastos Administrativos 1,121,934.67 1,350,628.36 3,553,840.51 1,217,381.40 1,007,599.62
---------------------------------------------------------------------------------------------------------------------
Gastos Generales 384,344.75 388,900.71 1,234,824.32 425,342.92 355,190.17
---------------------------------------------------------------------------------------------------------------------
Gastos de Depreciacion 108,282.02 111,227.05 334,270.94 139,814.92 95,478.93
---------------------------------------------------------------------------------------------------------------------
Otros Gastos -761,064.73 4,338,752.78 3,754,814.12 177,374.21 2,540,352.04
---------------------------------------------------------------------------------------------------------------------
Utilidad antes de Provisiones 1,403,748.23 -2,756,290.33 2,338,533.37 2,186,786.32 -496,772.51
---------------------------------------------------------------------------------------------------------------------
Provisiones por Cuentas Malas -11,715,126.22 -7,907,105.61 -19,622,231.83 0.00 -15,444,186.71
---------------------------------------------------------------------------------------------------------------------
Utilidad del Periodo 13,118,874.45 5,150,815.28 21,960,765.20 2,186,786.32 14,947,414.20
---------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------
Descripcion Septiembre Trimestre III Octubre Noviembre Diciembre
----------------------------------------------------------------------------------------------------------------
Ingresos Por Intereses 11,122,283.54
----------------------------------------------------------------------------------------------------------------
Prestamos 9,705,750.84
----------------------------------------------------------------------------------------------------------------
Depositos 464,065.06
----------------------------------------------------------------------------------------------------------------
Inversiones 952,467.64
----------------------------------------------------------------------------------------------------------------
Egresos de Operaciones 4,548,175.81
----------------------------------------------------------------------------------------------------------------
Intereses Pagados 4,536,921.68
----------------------------------------------------------------------------------------------------------------
Comisiones 11,254.13
----------------------------------------------------------------------------------------------------------------
Ingreso Neto de Intereses 6,574,107.73
----------------------------------------------------------------------------------------------------------------
Otros Ingresos 1,074,440.29
----------------------------------------------------------------------------------------------------------------
Comisiones 1,002,792.38
----------------------------------------------------------------------------------------------------------------
Operaciones con Divisas 13,408.71
----------------------------------------------------------------------------------------------------------------
Otros ingresos 58,239.20
----------------------------------------------------------------------------------------------------------------
Ingresos de Operaciones 7,648,548.02
----------------------------------------------------------------------------------------------------------------
Egresos Generales 5,958,534.21
----------------------------------------------------------------------------------------------------------------
Gastos Administrativos 2,224,981.02
----------------------------------------------------------------------------------------------------------------
Gastos Generales 780,533.09
----------------------------------------------------------------------------------------------------------------
Gastos de Depreciacion 235,293.85
----------------------------------------------------------------------------------------------------------------
Otros Gastos 2,717,726.25
----------------------------------------------------------------------------------------------------------------
Utilidad antes de Provisiones 1,690,013.81
----------------------------------------------------------------------------------------------------------------
Provisiones por Cuentas Malas -15,444,186.71
----------------------------------------------------------------------------------------------------------------
Utilidad del Periodo 17,134,200.52
----------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------
Descripcion Trimestre IV Acumulado Anual
-------------------------------------------------------------------------
Ingresos Por Intereses 0.00 43,783,109.41
-------------------------------------------------------------------------
Prestamos 0.00 38,867,126.38
-------------------------------------------------------------------------
Depositos 0.00 1,344,081.75
-------------------------------------------------------------------------
Inversiones 0.00 3,571,901.28
-------------------------------------------------------------------------
Egresos de Operaciones 0.00 17,596,958.37
-------------------------------------------------------------------------
Intereses Pagados 0.00 17,511,625.79
-------------------------------------------------------------------------
Comisiones 0.00 85,332.58
-------------------------------------------------------------------------
Ingreso Neto de Intereses 0.00 26,186,151.04
-------------------------------------------------------------------------
Otros Ingresos 0.00 4,453,780.89
-------------------------------------------------------------------------
Comisiones 0.00 4,199,650.10
-------------------------------------------------------------------------
Operaciones con Divisas 0.00 -204,841.72
-------------------------------------------------------------------------
Otros ingresos 0.00 458,972.51
-------------------------------------------------------------------------
Ingresos de Operaciones 0.00 30,639,931.93
-------------------------------------------------------------------------
Egresos Generales 0.00 16,494,547.09
-------------------------------------------------------------------------
Gastos Administrativos 0.00 8,929,143.44
-------------------------------------------------------------------------
Gastos Generales 0.00 2,736,556.96
-------------------------------------------------------------------------
Gastos de Depreciacion 0.00 924,007.68
-------------------------------------------------------------------------
Otros Gastos 0.00 3,904,839.01
-------------------------------------------------------------------------
Utilidad antes de Provisiones 0.00 14,145,384.84
-------------------------------------------------------------------------
Provisiones por Cuentas Malas 0.00 -53,302,813.33
-------------------------------------------------------------------------
Utilidad del Periodo 0.00 67,448,198.17
-------------------------------------------------------------------------