Edgar Filing: LATIN AMERICAN EXPORT BANK

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 6-K

Report of Foreign Private Issuer
Pursuant to Rule 13a-16 Or 15d-16 Of The
Securities Exchange Act of 1934

For the month of October, 2005

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 o

(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 o 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 7, 2005

Banco Latinoamericano de Exportaciones, S.A.


	By:	/s/ Pedro Toll

	Name:	Pedro Toll
	Title:	Deputy Manager

Message

BANCO LATINOAMERICANO DE EXPORTACIONES
BALANCE DE SITUACIÓN DE DICIEMBRE 2004 Y AGOSTO 2005
(En Balboas)

3 de Octubre 2005

			2004	2005

Descripción	Absoluta	%	Diciembre	Enero	Febrero	Marzo	Abril

ACTIVOS LIQUIDOS	5,030,355.04	3.25	154,765,632.34	126,835,963.62	93,130,123.32	246,830,814.22	165,746,337.28
Depositos Locales en Bancos	-5,041.47	-3.92	128,486.56	131,768.05	180,635.27	183,308.41	177,498.31
A la Vista	-5,041.47	-3.92	128,486.56	131,768.05	180,635.27	183,308.41	177,498.31
A Plazo	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Depositos Extranjeros en Bancos	5,131,167.81	3.32	154,527,646.17	126,587,803.14	92,827,450.78	246,584,754.28	165,559,032.80
A la Vista	1,481,167.81	107.51	1,377,646.17	1,687,803.14	1,427,450.78	1,384,754.28	1,659,032.80
A Plazo	3,650,000.00	2.38	153,150,000.00	124,900,000.00	91,400,000.00	245,200,000.00	163,900,000.00
Menos Provisiones	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Locales	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Extranjero	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Otros	-95,771.30	-87.46	109,499.61	116,392.43	122,037.27	62,751.53	9,806.17
CARTERA CREDITICIA	-150,588,399.12	-6.45	2,335,333,746.88	2,200,288,081.94	2,311,552,908.36	2,230,311,623.92	2,195,065,026.95
Locales	-158,686,526.43	-50.14	316,462,763.13	306,197,617.57	313,957,482.59	256,924,470.10	260,334,272.43
Extranjero	-20,116,577.82	-0.95	2,125,223,091.05	1,987,270,083.63	2,092,122,463.44	2,054,955,611.40	2,016,299,212.10
Menos Provisiones	-28,214,705.13	-26.53	106,352,107.30	93,179,619.26	94,527,037.67	81,568,457.58	81,568,457.58
Locales	-25,376,145.75	-79.36	31,974,024.79	27,171,299.54	27,167,345.67	26,264,424.84	26,266,815.10
Extranjero	-2,838,559.38	-3.82	74,378,082.51	66,008,319.72	67,359,692.00	55,304,032.74	55,301,642.48
INVERSIONES EN VALORES	26,956,091.31	13.63	197,784,333.38	222,360,047.07	213,075,795.11	179,575,569.81	134,020,253.33
Locales	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Extranjero	26,956,091.31	13.63	197,784,333.38	222,360,047.07	213,075,795.11	179,575,569.81	134,020,253.33
Menos Provisiones	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Locales	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Extranjero	0.00	0.00	0.00	0.00	0.00	0.00	0.00
OTROS ACTIVOS	41,388,818.97	72.61	57,003,647.40	58,632,178.31	73,140,071.71	127,214,062.09	87,102,153.62
Locales	3,697,586.59	62.96	5,872,777.14	6,035,440.75	7,996,788.06	46,262,694.53	6,722,957.13
Extranjero	37,691,232.38	73.72	51,130,870.26	52,596,737.56	65,143,283.65	80,951,367.56	80,379,196.49
TOTAL DE ACTIVOS	-77,213,133.80	-2.81	2,744,887,360.00	2,608,116,270.94	2,690,898,898.50	2,783,932,070.04	2,581,933,771.18
DEPOSITOS	-46,136,803.82	-5.34	864,159,586.65	750,176,227.21	830,395,806.10	823,423,706.76	779,255,632.17
Locales	-23,207,491.39	-33.27	69,749,340.19	60,224,754.12	58,953,550.20	41,095,532.80	60,665,832.06
Oficiales	0.00	0.00	0.00	0.00	0.00	0.00	0.00
De Particuales	19,640.28	42.60	46,100.25	48,524.57	50,630.42	53,115.11	55,604.19
A la Vista	19,640.28	42.60	46,100.25	48,524.57	50,630.42	53,115.11	55,604.19
A Plazo	0.00	0.00	0.00	0.00	0.00	0.00	0.00
De Ahorros	0.00	0.00	0.00	0.00	0.00	0.00	0.00
De Bancos	-23,227,131.67	-33.32	69,703,239.94	60,176,229.55	58,902,919.78	41,042,417.69	60,610,227.87
A la Vista	-9,917,625.74	-72.91	13,602,639.88	8,694,751.76	9,410,535.93	3,537,389.33	10,599,365.88
A Plazo	-13,309,505.93	-23.72	56,100,600.06	51,481,477.79	49,492,383.85	37,505,028.36	50,010,861.99
Extranjero	-22,929,312.43	-2.89	794,410,246.46	689,951,473.09	771,442,255.90	782,328,173.96	718,589,800.11
Oficiales	0.00	0.00	0.00	0.00	0.00	0.00	0.00
De Particulares	-102,452.95	-0.28	36,435,727.50	31,442,261.15	47,444,513.74	66,447,123.34	36,317,830.03
A la Vista	90,747.05	7.30	1,242,527.50	1,249,061.15	1,251,313.74	1,253,923.34	1,317,830.30
A Plazo	-193,200.00	-0.55	35,193,200.00	30,193,200.00	46,193,200.00	65,193,200.00	35,000,000.00
De Ahorros	0.00	0.00	0.00	0.00	0.00	0.00	0.00
De Bancos	-22,826,859.48	-3.01	757,974,518.96	658,509,211.94	723,997,742.16	715,881,050.62	682,271,970.08
A la Vista	82,244.32	1.06	7,727,920.49	7,638,493.80	8,031,826.70	8,973,604.08	8,792,555.11
A Plazo	-22,909,103.80	-3.05	750,246,598.47	650,870,718.14	715,965,915.46	706,907,446.54	673,479,414.97
OBLIGACIONES	-3,003,693.83	-0.27	1,116,199,364.39	1,091,852,850.63	1,083,644,441.38	1,148,782,105.22	1,071,800,107.78
Locales	-9,969,818.56	-32.24	30,926,544.85	30,926,544.85	30,926,544.85	24,077,680.89	21,611,836.71
Extranjero	6,966,124.73	0.64	1,085,272,819.54	1,060,926,305.78	1,052,717,896.53	1,124,704,424.33	1,050,188,271.07
OTROS PASIVOS	20,951,419.42	20.26	103,413,073.51	93,237,233.41	92,920,056.59	199,451,274.80	115,279,278.44
Locales	-730,443.70	-16.20	4,507,676.94	4,225,532.21	3,581,309.98	6,249,761.29	3,621,140.96
Extranjero	21,681,863.12	21.92	98,905,396.57	89,011,701.20	89,338,746.61	193,201,513.51	111,658,137.48
PATRIMONIO	-49,024,055.57	-7.42	661,115,335.45	672,849,959.69	683,938,594.43	612,274,983.26	615,598,752.79
Capital	-7,232,613.82	-2.25	321,137,166.85	321,137,166.85	321,137,166.85	321,154,087.69	321,154,087.69
Reservas de Capital	0.00	0.00	95,210,153.67	95,210,153.67	95,210,153.67	95,210,153.67	95,210,153.67
Otras Reservas	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Utilidad de Periodos Anteriores	52,305,059.95	53.96	96,937,866.40	238,685,540.45	238,685,540.05	155,044,373.42	155,044,373.20
Utilidad de Periodo	-89,065,699.34	-62.83	141,747,674.21	11,747,113.56	24,509,416.27	40,046,899.78	41,663,920.47
Ganancia o Perdida en Valores Disponible para la venta	-5,030,802.36	-82.71	6,082,474.32	6,069,985.16	4,396,317.59	819,468.70	2,526,217.76
Deuda Subordinada	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PASIVO Y PATRIMONIO	-77,213,133.80	-2.81	2,744,887,360.00	2,608,116,270.94	2,690,898,898.50	2,783,932,070.04	2,581,933,771.18

	2005

Descripción	Mayo	Junio	Julio	Agosto	Septiembre	Octubre	Noviembre	Diciembre

ACTIVOS LIQUIDOS	125,380,354.01	164,116,649.45	166,129,612.46	159,795,987.38	0.00	0.00	0.00	0.00
Depositos Locales en Bancos	217,923.04	235,315.13	128,236.24	123,445.09	0.00	0.00	0.00	0.00
A la Vista	217,923.04	235,315.13	128,236.24	123,445.09	0.00	0.00	0.00	0.00
A Plazo	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Depositos Extranjeros en Bancos	125,150,503.59	163,844,242.64	165,986,645.14	159,658,813.98	0.00	0.00	0.00	0.00
A la Vista	1,550,503.59	1,344,242.64	1,286,645.14	2,858,813.98	0.00	0.00	0.00	0.00
A Plazo	123,600,000.00	162,500,000.00	164,700,000.00	156,800,000.00	0.00	0.00	0.00	0.00
Menos Provisiones	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Locales	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Extranjero	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Otros	11,927.38	37,091.68	14,731.08	13,728.31	0.00	0.00	0.00	0.00
CARTERA CREDITICIA	2,109,455,510.83	2,168,389,848.69	2,232,042,251.37	2,184,745,347.76	0.00	0.00	0.00	0.00
Locales	195,854,139.09	188,854,006.60	176,926,371.26	157,776,236.70	0.00	0.00	0.00	0.00
Extranjero	1,995,169,829.32	2,055,241,010.71	2,133,192,508.21	2,105,106,513.23	0.00	0.00	0.00	0.00
Menos Provisiones	81,568,457.58	75,705,168.62	78,076,628.10	78,137,402.17	0.00	0.00	0.00	0.00
Locales	25,913,946.03	25,814,699.06	6,690,068.62	6,597,879.04	0.00	0.00	0.00	0.00
Extranjero	55,654,511.55	49,890,469.56	71,386,559.48	71,539,523.13	0.00	0.00	0.00	0.00
INVERSIONES EN VALORES	101,257,246.28	90,134,215.65	121,055,920.72	224,740,424.69	0.00	0.00	0.00	0.00
Locales	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Extranjero	101,257,246.28	90,134,215.65	121,055,920.72	224,740,424.69	0.00	0.00	0.00	0.00
Menos Provisiones	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Locales	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Extranjero	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
OTROS ACTIVOS	91,311,898.32	86,921,829.37	91,763,468.53	98,392,466.37	0.00	0.00	0.00	0.00
Locales	5,824,467.33	6,393,431.20	9,767,325.11	9,570,363.73	0.00	0.00	0.00	0.00
Extranjero	85,487,430.99	80,528,398.17	81,996,143.42	88,822,102.64	0.00	0.00	0.00	0.00
TOTAL DE ACTIVOS	2,427,405,009.44	2,509,562,543.16	2,610,991,253.08	2,667,674,226.20	0.00	0.00	0.00	0.00
DEPOSITOS	809,831,152.87	905,061,289.11	906,840,369.23	818,022,782.83	0.00	0.00	0.00	0.00
Locales	46,651,430.45	53,964,285.31	49,841,636.59	46,541,848.80	0.00	0.00	0.00	0.00
Oficiales	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
De Particuales	58,122.95	60,640.16	63,169.91	65,740.53	0.00	0.00	0.00	0.00
A la Vista	58,122.95	60,640.16	63,169.91	65,740.53	0.00	0.00	0.00	0.00
A Plazo	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
De Ahorros	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
De Bancos	46,593,307.50	53,903,645.15	49,778,466.68	46,476,108.27	0.00	0.00	0.00	0.00
A la Vista	8,065,956.93	12,564,555.48	8,006,961.52	3,685,014.14	0.00	0.00	0.00	0.00
A Plazo	38,527,350.57	41,339,089.67	41,771,505.16	42,791,094.13	0.00	0.00	0.00	0.00
Extranjero	763,179,722.42	851,097,003.80	856,998,732.64	771,480,934.03	0.00	0.00	0.00	0.00
Oficiales	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
De Particulares	36,321,376.46	66,322,078.69	36,329,487.82	36,333,274.55	0.00	0.00	0.00	0.00
A la Vista	1,321,376.46	1,322,078.69	1,329,487.82	1,333,274.55	0.00	0.00	0.00	0.00
A Plazo	35,000,000.00	65,000,000.00	35,000,000.00	35,000,000.00	0.00	0.00	0.00	0.00
De Ahorros	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
De Bancos	726,858,345.96	784,774,925.11	820,669,244.82	735,147,659.48	0.00	0.00	0.00	0.00
A la Vista	9,081,609.74	7,484,766.32	7,725,660.46	7,810,164.81	0.00	0.00	0.00	0.00
A Plazo	717,776,736.22	777,290,158.79	812,943,584.36	727,337,494.67	0.00	0.00	0.00	0.00
OBLIGACIONES	885,343,879.21	869,715,206.28	970,334,725.92	1,113,195,670.56	0.00	0.00	0.00	0.00
Locales	8,298,810.00	20,855,194.60	20,855,194.60	20,956,726.29	0.00	0.00	0.00	0.00
Extranjero	877,045,069.21	848,860,011.68	949,479,531.32	1,092,238,944.27	0.00	0.00	0.00	0.00
OTROS PASIVOS	120,411,105.61	124,578,025.26	121,678,500.95	124,364,492.93	0.00	0.00	0.00	0.00
Locales	3,301,107.18	3,344,917.70	3,683,226.85	3,777,233.24	0.00	0.00	0.00	0.00
Extranjero	117,109,998.43	121,233,107.56	117,995,274.10	120,587,259.69	0.00	0.00	0.00	0.00
PATRIMONIO	611,818,871.75	610,208,022.51	612,137,656.98	612,091,279.88	0.00	0.00	0.00	0.00
Capital	316,071,772.45	315,835,551.61	315,977,417.20	313,904,553.03	0.00	0.00	0.00	0.00
Reservas de Capital	95,210,153.67	95,210,153.67	95,210,153.67	95,210,153.67	0.00	0.00	0.00	0.00
Otras Reservas	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Utilidad de Periodos Anteriores	155,044,373.24	149,289,882.71	149,242,926.35	149,242,926.35	0.00	0.00	0.00	0.00
Utilidad de Periodo	43,742,069.87	48,168,218.58	50,420,029.40	52,681,974.87	0.00	0.00	0.00	0.00
Ganancia o Perdida en Valores Disponible para la venta	1,750,502.52	1,704,215.94	1,287,130.36	1,051,671.96	0.00	0.00	0.00	0.00
Deuda Subordinada	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PASIVO Y PATRIMONIO	2,427,405,009.44	2,509,562,543.16	2,610,991,253.08	2,667,674,226.20	0.00	0.00	0.00	0.00

Message

ESTADO DE RESULTADO
BANCO LATINOAMERICANO DE EXPORTACIONES, S.A.
AGOSTO 2005

(En Balboas)

3 de Octubre de 2005

Descripcion	Enero	Febrero	Marzo	Trimestre I	Abril	Mayo	Junio	Trimestre II

Ingresos Por Intereses	9,109,529.14	6,630,895.55	10,935,269.10	26,675,693.79	8,771,964.38	7,894,063.55	8,394,976.13	25,061,004.06
Préstamos	7,987,032.78	5,435,131.34	9,675,268.73	23,097,432.85	7,529,648.62	6,966,109.26	7,590,661.07	22,086,418.95
Depósitos	272,712.32	235,749.66	362,790.80	871,252.78	432,625.23	395,823.74	377,428.58	1,205,877.55
Inversiones	849,784.04	960,014.55	897,209.57	2,707,008.16	809,690.53	532,130.55	426,886.48	1,768,707.56
Egresos de Operaciones	4,727,393.98	4,280,980.75	6,529,684.34	15,538,059.07	5,173,680.14	5,003,978.66	4,952,743.44	15,130,402.24
Intereses Pagados	4,719,229.04	4,273,117.58	6,535,751.90	15,528,098.52	5,170,247.88	5,001,390.69	4,949,985.66	15,121,624.23
Comisiones	8,164.94	7,863.17	-6,067.56	9,960.55	3,432.26	2,587.97	2,757.78	8,778.01
Ingreso Neto de Intereses	4,382,135.16	2,349,914.80	4,405,584.76	11,137,634.72	3,598,284.24	2,890,084.89	3,442,232.69	9,930,601.82
Otros Ingresos	346,038.36	1,520,243.44	-116,318.38	1,749,963.42	-240,226.74	1,194,927.08	213,064.54	1,167,764.88
Comisiones	334,501.70	337,129.40	926,409.93	1,598,041.03	346,839.66	386,381.25	300,640.23	1,033,861.14
Operaciones con Divisas	11,536.66	-2,391.89	-9,770.60	-625.83	65,810.38	1,833,674.88	-1,858,931.82	40,553.44
Otros ingresos	0.00	1,185,505.93	-1,032,957.71	152,548.22	-652,876.78	-1,025,129.05	1,771,356.13	93,350.30
Ingresos de Operaciones	4,728,173.52	3,870,158.24	4,289,266.38	12,887,598.14	3,358,057.50	4,085,011.97	3,655,297.23	11,098,366.70
Egresos Generales	6,157,781.05	-10,239,562.88	-3,258,917.78	-7,340,699.61	1,741,036.81	2,006,863.49	5,092,437.66	8,840,337.96
Gastos Administrativos	919,974.84	1,187,710.00	1,814,645.70	3,922,330.54	1,187,177.08	1,376,693.10	1,162,802.45	3,726,672.63
Gastos Generales	193,085.86	330,270.68	444,937.95	968,294.49	299,958.83	430,561.08	358,415.15	1,088,935.06
Gastos de Depreciación	79,400.74	72,949.14	85,413.47	237,763.35	77,316.16	80,287.05	75,926.42	233,529.63
Otros Gastos	4,965,319.61	-11,830,492.70	-5,603,914.90	-12,469,087.99	176,584.74	119,322.26	3,495,293.64	3,791,200.64
Utilidad antes de Provisiones	-1,429,607.53	14,109,721.12	7,548,184.16	20,228,297.75	1,617,020.69	2,078,148.48	-1,437,140.43	2,258,028.74
Provisiones por Cuentas Malas	-13,176,721.09	1,347,418.41	-7,989,299.35	-19,818,602.03	0.00	0.00	-5,863,289.14	-5,863,289.14
Utilidad del Periodo	11,747,113.56	12,762,302.71	15,537,483.51	40,046,899.78	1,617,020.69	2,078,148.48	4,426,148.71	8,121,317.88

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

Ingresos Por Intereses	9,134,735.75	9,610,222.82	0.00	18,744,958.57	0.00	0.00	0.00	0.00	70,481,656.42
Préstamos	8,229,512.50	8,406,468.39	0.00	16,635,980.89	0.00	0.00	0.00	0.00	61,819,832.69
Depósitos	486,503.73	490,406.17	0.00	976,909.90	0.00	0.00	0.00	0.00	3,054,040.23
Inversiones	418,719.52	713,348.26	0.00	1,132,067.78	0.00	0.00	0.00	0.00	5,607,783.50
Egresos de Operaciones	5,330,644.95	6,118,101.49	0.00	11,448,746.44	0.00	0.00	0.00	0.00	42,117,207.75
Intereses Pagados	5,328,616.13	6,116,596.86	0.00	11,445,212.99	0.00	0.00	0.00	0.00	42,094,935.74
Comisiones	2,028.82	1,504.63	0.00	3,533.45	0.00	0.00	0.00	0.00	22,272.01
Ingreso Neto de Intereses	3,804,090.80	3,492,121.33	0.00	7,296,212.13	0.00	0.00	0.00	0.00	28,364,448.67
Otros Ingresos	472,443.57	538,820.38	0.00	1,011,263.95	0.00	0.00	0.00	0.00	3,928,992.25
Comisiones	466,407.08	536,073.95	0.00	1,002,481.03	0.00	0.00	0.00	0.00	3,634,383.20
Operaciones con Divisas	5,854.40	2,746.43	0.00	8,600.83	0.00	0.00	0.00	0.00	48,528.44
Otros ingresos	182.09	0.00	0.00	182.09	0.00	0.00	0.00	0.00	246,080.61
Ingresos de Operaciones	4,276,534.37	4,030,941.71	0.00	8,307,476.08	0.00	0.00	0.00	0.00	32,293,440.92
Egresos Generales	2,024,723.55	1,768,995.54	0.00	3,793,719.09	0.00	0.00	0.00	0.00	5,293,357.44
Gastos Administrativos	1,276,820.04	1,177,116.15	0.00	2,453,936.19	0.00	0.00	0.00	0.00	10,102,939.36
Gastos Generales	408,674.56	385,276.02	0.00	793,950.58	0.00	0.00	0.00	0.00	2,851,180.13
Gastos de Depreciación	78,457.88	56,552.37	0.00	135,010.25	0.00	0.00	0.00	0.00	606,303.23
Otros Gastos	260,771.07	150,051.00	0.00	410,822.07	0.00	0.00	0.00	0.00	-8,267,065.28
Utilidad antes de Provisiones	2,251,810.82	2,261,945.47	0.00	4,513,756.29	0.00	0.00	0.00	0.00	27,000,082.78
Provisiones por Cuentas Malas	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-25,681,891.17
Utilidad del Periodo	2,251,810.82	2,261,945.47	0.00	4,513,756.29	0.00	0.00	0.00	0.00	52,681,973.95

Message

BANCO LATINOAMERICANO DE EXPORTACIONES
BALANCE SHEETS* December 2004 and August 2005
(In Balboas)**

October 3, 2005

			2004	2005

Description	Absolute	%	December	January	February	March	April

LIQUID ASSETS	5,030,355.04	3.25	154,765,632.34	126,835,963.62	93,130,123.32	246,830,814.22	165,746,337.28
Local Deposits in Banks	-5,041.47	-3.92	128,486.56	131,768.05	180,635.27	183,308.41	177,498.31
Demand	-5,041.47	-3.92	128,486.56	131,768.05	180,635.27	183,308.41	177,498.31
Time	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Foreign Deposits in Banks	5,131,167.81	3.32	154,527,646.17	126,587,803.14	92,827,450.78	246,584,754.28	165,559,032.80
Demand	1,481,167.81	107.51	1,377,646.17	1,687,803.14	1,427,450.78	1,384,754.28	1,659,032.80
Time	3,650,000.00	2.38	153,150,000.00	124,900,000.00	91,400,000.00	245,200,000.00	163,900,000.00
Less Allowance	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Local	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Foreign	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Others	-95,771.30	-87.46	109,499.61	116,392.43	122,037.27	62,751.53	9,806.17
CREDIT PORTFOLIO	-150,588,399.12	-6.45	2,335,333,746.88	2,200,288,081.94	2,311,552,908.36	2,230,311,623.92	2,195,065,026.95
Local	-158,686,526.43	-50.14	316,462,763.13	306,197,617.57	313,957,482.59	256,924,470.10	260,334,272.43
Foreign	-20,116,577.82	-0.95	2,125,223,091.05	1,987,270,083.63	2,092,122,463.44	2,054,955,611.40	2,016,299,212.10
Less Allowance	-28,214,705.13	-26.53	106,352,107.30	93,179,619.26	94,527,037.67	81,568,457.58	81,568,457.58
Local	-25,376,145.75	-79.36	31,974,024.79	27,171,299.54	27,167,345.67	26,264,424.84	26,266,815.10
Foreign	-2,838,559.38	-3.82	74,378,082.51	66,008,319.72	67,359,692.00	55,304,032.74	55,301,642.48
INVESTMENT SECURITIES	26,956,091.31	13.63	197,784,333.38	222,360,047.07	213,075,795.11	179,575,569.81	134,020,253.33
Local	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Foreign	26,956,091.31	13.63	197,784,333.38	222,360,047.07	213,075,795.11	179,575,569.81	134,020,253.33
Less Allowance	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Local	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Foreign	0.00	0.00	0.00	0.00	0.00	0.00	0.00
OTHER ASSETS	41,388,818.97	72.61	57,003,647.40	58,632,178.31	73,140,071.71	127,214,062.09	87,102,153.62
Local	3,697,586.59	62.96	5,872,777.14	6,035,440.75	7,996,788.06	46,262,694.53	6,722,957.13
Foreign	37,691,232.38	73.72	51,130,870.26	52,596,737.56	65,143,283.65	80,951,367.56	80,379,196.49
TOTAL ASSETS	-77,213,133.80	-2.81	2,744,887,360.00	2,608,116,270.94	2,690,898,898.50	2,783,932,070.04	2,581,933,771.18
DEPOSITS	-46,136,803.82	-5.34	864,159,586.65	750,176,227.21	830,395,806.10	823,423,706.76	779,255,632.17
Local	-23,207,491.39	-33.27	69,749,340.19	60,224,754.12	58,953,550.20	41,095,532.80	60,665,832.06
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Customers	19,640.28	42.60	46,100.25	48,524.57	50,630.42	53,115.11	55,604.19
Demand	19,640.28	42.60	46,100.25	48,524.57	50,630.42	53,115.11	55,604.19
Time	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Savings	0.00	0.00	0.00	0.00	0.00	0.00	0.00
From Banks	-23,227,131.67	-33.32	69,703,239.94	60,176,229.55	58,902,919.78	41,042,417.69	60,610,227.87
Demand	-9,917,625.74	-72.91	13,602,639.88	8,694,751.76	9,410,535.93	3,537,389.33	10,599,365.88
Time	-13,309,505.93	-23.72	56,100,600.06	51,481,477.79	49,492,383.85	37,505,028.36	50,010,861.99
Foreign	-22,929,312.43	-2.89	794,410,246.46	689,951,473.09	771,442,255.90	782,328,173.96	718,589,800.11
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Customers	-102,452.95	-0.28	36,435,727.50	31,442,261.15	47,444,513.74	66,447,123.34	36,317,830.03
Demand	90,747.05	7.30	1,242,527.50	1,249,061.15	1,251,313.74	1,253,923.34	1,317,830.30
Time	-193,200.00	-0.55	35,193,200.00	30,193,200.00	46,193,200.00	65,193,200.00	35,000,000.00
Savings	0.00	0.00	0.00	0.00	0.00	0.00	0.00
From Banks	-22,826,859.48	-3.01	757,974,518.96	658,509,211.94	723,997,742.16	715,881,050.62	682,271,970.08
Demand	82,244.32	1.06	7,727,920.49	7,638,493.80	8,031,826.70	8,973,604.08	8,792,555.11
Time	-22,909,103.80	-3.05	750,246,598.47	650,870,718.14	715,965,915.46	706,907,446.54	673,479,414.97
BORROWINGS	-3,003,693.83	-0.27	1,116,199,364.39	1,091,852,850.63	1,083,644,441.38	1,148,782,105.22	1,071,800,107.78
Local	-9,969,818.56	-32.24	30,926,544.85	30,926,544.85	30,926,544.85	24,077,680.89	21,611,836.71
Foreign	6,966,124.73	0.64	1,085,272,819.54	1,060,926,305.78	1,052,717,896.53	1,124,704,424.33	1,050,188,271.07
OTHER LIABILITIES	20,951,419.42	20.26	103,413,073.51	93,237,233.41	92,920,056.59	199,451,274.80	115,279,278.44
Local	-730,443.70	-16.20	4,507,676.94	4,225,532.21	3,581,309.98	6,249,761.29	3,621,140.96
Foreign	21,681,863.12	21.92	98,905,396.57	89,011,701.20	89,338,746.61	193,201,513.51	111,658,137.48
STOCKHOLDERS´ EQUITY	-49,024,055.57	-7.42	661,115,335.45	672,849,959.69	683,938,594.43	612,274,983.26	615,598,752.79
Capital	-7,232,613.82	-2.25	321,137,166.85	321,137,166.85	321,137,166.85	321,154,087.69	321,154,087.69
Capital Reserves	0.00	0.00	95,210,153.67	95,210,153.67	95,210,153.67	95,210,153.67	95,210,153.67
Other Reserves	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Retained Earnings	52,305,059.95	53.96	96,937,866.40	238,685,540.45	238,685,540.05	155,044,373.42	155,044,373.20
Net Income	-89,065,699.34	-62.83	141,747,674.21	11,747,113.56	24,509,416.27	40,046,899.78	41,663,920.47
Gain or Loss in Securities available for sale	-5,030,802.36	-82.71	6,082,474.32	6,069,985.16	4,396,317.59	819,468.70	2,526,217.76
Subordinated Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00
LIABILITIES AND STOCKHOLDER’S EQUITY	-77,213,133.80	-2.81	2,744,887,360.00	2,608,116,270.94	2,690,898,898.50	2,783,932,070.04	2,581,933,771.18

	2005

Description	May	June	July	August	September	October	November	December

LIQUID ASSETS	125,380,354.01	164,116,649.45	166,129,612.46	159,795,987.38	0.00	0.00	0.00	0.00
Local Deposits in Banks	217,923.04	235,315.13	128,236.24	123,445.09	0.00	0.00	0.00	0.00
Demand	217,923.04	235,315.13	128,236.24	123,445.09	0.00	0.00	0.00	0.00
Time	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Foreign Deposits in Banks	125,150,503.59	163,844,242.64	165,986,645.14	159,658,813.98	0.00	0.00	0.00	0.00
Demand	1,550,503.59	1,344,242.64	1,286,645.14	2,858,813.98	0.00	0.00	0.00	0.00
Time	123,600,000.00	162,500,000.00	164,700,000.00	156,800,000.00	0.00	0.00	0.00	0.00
Less Allowance	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Local	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Foreign	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Others	11,927.38	37,091.68	14,731.08	13,728.31	0.00	0.00	0.00	0.00
CREDIT PORTFOLIO	2,109,455,510.83	2,168,389,848.69	2,232,042,251.37	2,184,745,347.76	0.00	0.00	0.00	0.00
Local	195,854,139.09	188,854,006.60	176,926,371.26	157,776,236.70	0.00	0.00	0.00	0.00
Foreign	1,995,169,829.32	2,055,241,010.71	2,133,192,508.21	2,105,106,513.23	0.00	0.00	0.00	0.00
Less Allowance	81,568,457.58	75,705,168.62	78,076,628.10	78,137,402.17	0.00	0.00	0.00	0.00
Local	25,913,946.03	25,814,699.06	6,690,068.62	6,597,879.04	0.00	0.00	0.00	0.00
Foreign	55,654,511.55	49,890,469.56	71,386,559.48	71,539,523.13	0.00	0.00	0.00	0.00
INVESTMENT SECURITIES	101,257,246.28	90,134,215.65	121,055,920.72	224,740,424.69	0.00	0.00	0.00	0.00
Local	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Foreign	101,257,246.28	90,134,215.65	121,055,920.72	224,740,424.69	0.00	0.00	0.00	0.00
Less Allowance	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Local	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Foreign	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
OTHER ASSETS	91,311,898.32	86,921,829.37	91,763,468.53	98,392,466.37	0.00	0.00	0.00	0.00
Local	5,824,467.33	6,393,431.20	9,767,325.11	9,570,363.73	0.00	0.00	0.00	0.00
Foreign	85,487,430.99	80,528,398.17	81,996,143.42	88,822,102.64	0.00	0.00	0.00	0.00
TOTAL ASSETS	2,427,405,009.44	2,509,562,543.16	2,610,991,253.08	2,667,674,226.20	0.00	0.00	0.00	0.00
DEPOSITS	809,831,152.87	905,061,289.11	906,840,369.23	818,022,782.83	0.00	0.00	0.00	0.00
Local	46,651,430.45	53,964,285.31	49,841,636.59	46,541,848.80	0.00	0.00	0.00	0.00
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Customers	58,122.95	60,640.16	63,169.91	65,740.53	0.00	0.00	0.00	0.00
Demand	58,122.95	60,640.16	63,169.91	65,740.53	0.00	0.00	0.00	0.00
Time	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Savings	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
From Banks	46,593,307.50	53,903,645.15	49,778,466.68	46,476,108.27	0.00	0.00	0.00	0.00
Demand	8,065,956.93	12,564,555.48	8,006,961.52	3,685,014.14	0.00	0.00	0.00	0.00
Time	38,527,350.57	41,339,089.67	41,771,505.16	42,791,094.13	0.00	0.00	0.00	0.00
Foreign	763,179,722.42	851,097,003.80	856,998,732.64	771,480,934.03	0.00	0.00	0.00	0.00
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Customers	36,321,376.46	66,322,078.69	36,329,487.82	36,333,274.55	0.00	0.00	0.00	0.00
Demand	1,321,376.46	1,322,078.69	1,329,487.82	1,333,274.55	0.00	0.00	0.00	0.00
Time	35,000,000.00	65,000,000.00	35,000,000.00	35,000,000.00	0.00	0.00	0.00	0.00
Savings	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
From Banks	726,858,345.96	784,774,925.11	820,669,244.82	735,147,659.48	0.00	0.00	0.00	0.00
Demand	9,081,609.74	7,484,766.32	7,725,660.46	7,810,164.81	0.00	0.00	0.00	0.00
Time	717,776,736.22	777,290,158.79	812,943,584.36	727,337,494.67	0.00	0.00	0.00	0.00
BORROWINGS	885,343,879.21	869,715,206.28	970,334,725.92	1,113,195,670.56	0.00	0.00	0.00	0.00
Local	8,298,810.00	20,855,194.60	20,855,194.60	20,956,726.29	0.00	0.00	0.00	0.00
Foreign	877,045,069.21	848,860,011.68	949,479,531.32	1,092,238,944.27	0.00	0.00	0.00	0.00
OTHER LIABILITIES	120,411,105.61	124,578,025.26	121,678,500.95	124,364,492.93	0.00	0.00	0.00	0.00
Local	3,301,107.18	3,344,917.70	3,683,226.85	3,777,233.24	0.00	0.00	0.00	0.00
Foreign	117,109,998.43	121,233,107.56	117,995,274.10	120,587,259.69	0.00	0.00	0.00	0.00
STOCKHOLDERS´ EQUITY	611,818,871.75	610,208,022.51	612,137,656.98	612,091,279.88	0.00	0.00	0.00	0.00
Capital	316,071,772.45	315,835,551.61	315,977,417.20	313,904,553.03	0.00	0.00	0.00	0.00
Capital Reserves	95,210,153.67	95,210,153.67	95,210,153.67	95,210,153.67	0.00	0.00	0.00	0.00
Other Reserves	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Retained Earnings	155,044,373.24	149,289,882.71	149,242,926.35	149,242,926.35	0.00	0.00	0.00	0.00
Net Income	43,742,069.87	48,168,218.58	50,420,029.40	52,681,974.87	0.00	0.00	0.00	0.00
Gain or Loss in Securities available for sale	1,750,502.52	1,704,215.94	1,287,130.36	1,051,671.96	0.00	0.00	0.00	0.00
Subordinated Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
LIABILITIES AND STOCKHOLDER’S EQUITY	2,427,405,009.44	2,509,562,543.16	2,610,991,253.08	2,667,674,226.20	0.00	0.00	0.00	0.00

* Includes only Panama - New York accounts.

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

This is a free translation from Spanish original version, taken from the monthly publication of the Republica de Panamá Superintendencia de Bancos (website: http://www.superbancos.gob.pa).

		October 3, 2005
	STATEMENTS OF INCOME * BANCO LATINOAMERICANO DE EXPORTACIONES, S.A. August 2005 (In Balboas)**

Description	January	February	March	I Quarter	April	May	June	II Quarter

Interest Income	9,109,529.14	6,630,895.55	10,935,269.10	26,675,693.79	8,771,964.38	7,894,063.55	8,394,976.13	25,061,004.06
Loans	7,987,032.78	5,435,131.34	9,675,268.73	23,097,432.85	7,529,648.62	6,966,109.26	7,590,661.07	22,086,418.95
Deposits	272,712.32	235,749.66	362,790.80	871,252.78	432,625.23	395,823.74	377,428.58	1,205,877.55
Investments	849,784.04	960,014.55	897,209.57	2,707,008.16	809,690.53	532,130.55	426,886.48	1,768,707.56
Interest Expense	4,727,393.98	4,280,980.75	6,529,684.34	15,538,059.07	5,173,680.14	5,003,978.66	4,952,743.44	15,130,402.24
Interest	4,719,229.04	4,273,117.58	6,535,751.90	15,528,098.52	5,170,247.88	5,001,390.69	4,949,985.66	15,121,624.23
Commissions	8,164.94	7,863.17	-6,067.56	9,960.55	3,432.26	2,587.97	2,757.78	8,778.01
Net Interest Income	4,382,135.16	2,349,914.80	4,405,584.76	11,137,634.72	3,598,284.24	2,890,084.89	3,442,232.69	9,930,601.82
Other Income	346,038.36	1,520,243.44	-116,318.38	1,749,963.42	-240,226.74	1,194,927.08	213,064.54	1,167,764.88
Commissions	334,501.70	337,129.40	926,409.93	1,598,041.03	346,839.66	386,381.25	300,640.23	1,033,861.14
Foreign currency operations	11,536.66	-2,391.89	-9,770.60	-625.83	65,810.38	1,833,674.88	-1,858,931.82	40,553.44
Other Income	0.00	1,185,505.93	-1,032,957.71	152,548.22	-652,876.78	-1,025,129.05	1,771,356.13	93,350.30
Operating Income	4,728,173.52	3,870,158.24	4,289,266.38	12,887,598.14	3,358,057.50	4,085,011.97	3,655,297.23	11,098,366.70
Operating Expenses	6,157,781.05	-10,239,562.88	-3,258,917.78	-7,340,699.61	1,741,036.81	2,006,863.49	5,092,437.66	8,840,337.96
Administrative expenses	919,974.84	1,187,710.00	1,814,645.70	3,922,330.54	1,187,177.08	1,376,693.10	1,162,802.45	3,726,672.63
General expenses	193,085.86	330,270.68	444,937.95	968,294.49	299,958.83	430,561.08	358,415.15	1,088,935.06
Depreciation	79,400.74	72,949.14	85,413.47	237,763.35	77,316.16	80,287.05	75,926.42	233,529.63
Other expenses	4,965,319.61	-11,830,492.70	-5,603,914.90	-12,469,087.99	176,584.74	119,322.26	3,495,293.64	3,791,200.64
Net Income before provision for loan losses	-1,429,607.53	14,109,721.12	7,548,184.16	20,228,297.75	1,617,020.69	2,078,148.48	-1,437,140.43	2,258,028.74
Provision for loan losses	-13,176,721.09	1,347,418.41	-7,989,299.35	-19,818,602.03	0.00	0.00	-5,863,289.14	-5,863,289.14
Net Income	11,747,113.56	12,762,302.71	15,537,483.51	40,046,899.78	1,617,020.69	2,078,148.48	4,426,148.71	8,121,317.88

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

Interest Income	9,134,735.75	9,610,222.82	0.00	18,744,958.57	0.00	0.00	0.00	0.00	70,481,656.42
Loans	8,229,512.50	8,406,468.39	0.00	16,635,980.89	0.00	0.00	0.00	0.00	61,819,832.69
Deposits	486,503.73	490,406.17	0.00	976,909.90	0.00	0.00	0.00	0.00	3,054,040.23
Investments	418,719.52	713,348.26	0.00	1,132,067.78	0.00	0.00	0.00	0.00	5,607,783.50
Interest Expense	5,330,644.95	6,118,101.49	0.00	11,448,746.44	0.00	0.00	0.00	0.00	42,117,207.75
Interest	5,328,616.13	6,116,596.86	0.00	11,445,212.99	0.00	0.00	0.00	0.00	42,094,935.74
Commissions	2,028.82	1,504.63	0.00	3,533.45	0.00	0.00	0.00	0.00	22,272.01
Net Interest Income	3,804,090.80	3,492,121.33	0.00	7,296,212.13	0.00	0.00	0.00	0.00	28,364,448.67
Other Income	472,443.57	538,820.38	0.00	1,011,263.95	0.00	0.00	0.00	0.00	3,928,992.25
Commissions	466,407.08	536,073.95	0.00	1,002,481.03	0.00	0.00	0.00	0.00	3,634,383.20
Foreign currency operations	5,854.40	2,746.43	0.00	8,600.83	0.00	0.00	0.00	0.00	48,528.44
Other Income	182.09	0.00	0.00	182.09	0.00	0.00	0.00	0.00	246,080.61
Operating Income	4,276,534.37	4,030,941.71	0.00	8,307,476.08	0.00	0.00	0.00	0.00	32,293,440.92
Operating Expenses	2,024,723.55	1,768,995.54	0.00	3,793,719.09	0.00	0.00	0.00	0.00	5,293,357.44
Administrative expenses	1,276,820.04	1,177,116.15	0.00	2,453,936.19	0.00	0.00	0.00	0.00	10,102,939.36
General expenses	408,674.56	385,276.02	0.00	793,950.58	0.00	0.00	0.00	0.00	2,851,180.13
Depreciation	78,457.88	56,552.37	0.00	135,010.25	0.00	0.00	0.00	0.00	606,303.23
Other expenses	260,771.07	150,051.00	0.00	410,822.07	0.00	0.00	0.00	0.00	-8,267,065.28
Net Income before provision for loan losses	2,251,810.82	2,261,945.47	0.00	4,513,756.29	0.00	0.00	0.00	0.00	27,000,082.78
Provision for loan losses	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-25,681,891.17
Net Income	2,251,810.82	2,261,945.47	0.00	4,513,756.29	0.00	0.00	0.00	0.00	52,681,973.95

* Includes only Panama - New York accounts.

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

This is a free translation from Spanish original version, taken from the monthly publication of the Republica de Panamá Superintendencia de Bancos (website: http://www.superbancos.gob.pa).