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
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Name: Pedro Toll
Title: Deputy Manager
Bladex [LOGO]
PRESS RELEASE
BLADEX ANNOUNCES PREPAYMENT OF ARGENTINE LOAN
Panama City, Republic of Panama, October 8, 2004 - Banco Latinoamericano de
Exportaciones, S.A. - Bladex (NYSE:BLX or the "Bank"), announced today the
receipt of a US$56 million prepayment on an Argentine loan. The Bank will
account for the impact of this prepayment by reversing allocated loan loss
provisions back to earnings. As a result, Bladex expects to generate a profit
for accounting purposes of approximately US$43 million, which will increase the
Bank's equity capital by the same amount.
Along with the receipt of scheduled principal payments, other prepayments, and
asset sales, this prepayment will result in a reduction of the Bank's credit
portfolio in Argentina from US$360.1 million at June 30, 2004 to approximately
US$253.1 million at October 8, 2004.
Jaime Rivera, CEO of Bladex stated: "This significant reduction in our exposure
in Argentina validates our strategy that supporting our clients is the best way
to maximize their repayment ability and speaks unequivocally of Bladex's
institutional strengths. We look forward to continued progress in this
portfolio, and to market conditions gradually allowing us to again finance trade
in an important country that we know well, and where we have a number of
valuable client relationships."
Bladex is a supranational bank originally established by the Central Banks of
Latin American and Caribbean countries to finance and promote trade in the
Region. Based in Panama, its shareholders include central banks and state-owned
entities in 23 countries in the Region, Latin American and international
commercial banks, and institutional and retail investors.
For further information, please access www.blx.com or contact:
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Carlos Yap, Senior Vice President - CFO
Tel.: (country code 507) 210-8581, E-mail: cyap@blx.com
-or-
i-advize Corporate Communications, Inc., 80 Wall Street, Suite 515,
New York, NY 10005
Attention: Melanie Carpenter / Peter Majeski
Tel.: (212) 406-3690, E-mail: bladex@i-advize.com
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