Edgar Filing: LATIN AMERICAN EXPORT BANK

* 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).

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 September, 2007

BANCO LATINOAMERICANO DE EXPORTACIONES, S.A.

(Exact name of Registrant as specified in its Charter)

LATIN AMERICAN EXPORT BANK

(Translation of Registrant’s name into English)

Calle 50 y Aquilino de la Guardia

Apartado 0819-08730

El Dorado, Panama City

Republic of Panama

(Address of Registrant’s Principal Executive Offices)

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

Form 20-F x Form 40-F 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.

September 20, 2007
	Banco Latinoamericano de Exportaciones, S.A.

	By:	/s/ Pedro Toll
		Name: Pedro Toll
		Title: Deputy Manager

BANCO LATINOAMERICANO DE EXPORTACIONES

BALANCE DE SITUACION DE DICIEMBRE 2006 Y ENERO - JULIO 2007

(En Balboas)

31 de Agosto de 2007

					2006		2007
Descripción	Absoluta		%		Diciembre		Enero		Febrero		Marzo		Abril		Mayo
ACTIVOS LIQUIDOS		-78,399,065.02		-25.82		303,650,422.83		216,202,094.20		242,982,598.61		229,046,233.80		122,698,746.25		208,986,133.47
Depositos Locales en Bancos		26,684.90		15.35		173,891.04		171,541.89		211,225.69		198,143.77		164,062.71		162,204.31
A la Vista		26,684.90		15.35		173,891.04		171,541.89		211,225.69		198,143.77		164,062.71		162,204.31
A Plazo		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Depositos Extranjeros en Bancos		-78,418,619.20		-25.84		303,465,330.82		216,015,706.64		242,755,699.36		228,836,963.32		122,369,664.85		208,813,623.54
A la Vista		2,381,380.80		53.33		4,465,330.82		2,715,706.64		1,255,699.36		30,836,963.32		1,769,664.85		1,313,623.54
A Plazo		-80,800,000.00		-27.02		299,000,000.00		213,300,000.00		241,500,000.00		198,000,000.00		120,600,000.00		207,500,000.00
Menos Provisiones		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Locales		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Extranjero		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Otros		-7,130.72		-63.66		11,200.97		14,845.67		15,673.56		11,126.71		165,018.69		10,305.62
CARTERA CREDITICIA		470,007,046.04		16.04		2,929,506,047.77		3,036,256,324.76		3,027,768,900.81		3,245,204,307.99		3,206,861,456.42		3,196,112,772.51
Locales		-34,797,601.80		-17.95		193,815,776.27		190,803,578.31		185,116,953.31		158,897,133.10		141,613,868.24		150,123,300.86
Extranjero		522,619,226.23		18.75		2,786,955,793.50		2,896,713,920.80		2,893,913,101.85		3,142,920,079.84		3,121,860,493.13		3,102,571,114.20
Menos Provisiones		17,814,578.39		34.75		51,265,522.00		51,261,174.35		51,261,154.35		56,612,904.95		56,612,904.95		56,581,642.55
Locales		-111,111.36		-12.19		911,727.70		911,727.70		911,727.70		811,234.26		811,234.26		779,971.86
Extranjero		17,925,689.75		35.60		50,353,794.30		50,349,446.65		50,349,426.65		55,801,670.69		55,801,670.69		55,801,670.69
INVERSIONES EN VALORES		-247,021,627.85		-42.76		577,658,363.67		391,817,270.05		380,907,417.40		632,092,664.10		307,221,604.46		298,088,861.31
Locales		87,400.00		0.44		19,922,400.00		19,804,200.00		20,027,600.00		20,085,000.00		20,043,400.00		19,836,600.00
Extranjero		-247,109,027.85		-44.31		557,735,963.67		372,013,070.05		360,879,817.40		612,007,664.10		287,178,204.46		278,252,261.31
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		-13,901,936.72		-11.81		117,717,130.43		116,329,379.94		97,215,886.49		78,834,911.65		68,502,497.68		70,730,858.41
Locales		-16,300,249.12		-92.54		17,614,809.32		20,511,965.87		10,276,743.98		5,315,339.04		5,574,415.85		2,523,285.04
Extranjero		2,398,312.40		2.40		100,102,321.11		95,817,414.07		86,939,142.51		73,519,572.61		62,928,081.83		68,207,573.37
TOTAL DE ACTIVOS		130,684,416.45		3.33		3,928,531,964.70		3,760,605,068.95		3,748,874,803.31		4,185,178,117.54		3,705,284,304.81		3,773,918,625.70
DEPOSITOS		376,368,403.99		35.62		1,056,674,083.42		1,169,378,225.85		1,222,705,231.77		1,380,142,876.22		1,283,560,136.96		1,286,109,030.56
Locales		137,392,634.45		97.77		140,528,292.38		151,114,593.65		149,223,722.63		188,400,415.96		195,234,364.45		209,426,258.81
Oficiales		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
De Particulares		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
A la Vista		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
A Plazo		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
De Ahorros		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
De Bancos		137,392,634.45		97.77		140,528,292.38		151,114,593.65		149,223,722.63		188,400,415.96		195,234,364.45		209,426,258.81
A la Vista		3,687,767.18		29.76		12,390,382.81		9,751,662.28		13,366,002.78		10,542,777.13		9,856,408.16		7,495,530.19
A Plazo		133,704,867.27		104.34		128,137,909.57		141,362,931.37		135,857,719.85		177,857,638.83		185,377,956.29		201,930,728.62
Extranjero		238,975,769.54		26.08		916,145,791.04		1,018,263,632.20		1,073,481,509.14		1,191,742,460.26		1,088,325,772.51		1,076,682,771.75
Oficiales		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
De Particulares		30,105,229.27		79.55		37,843,681.20		98,076,330.45		99,415,948.70		100,671,771.92		102,886,296.40		101,494,940.09
A la Vista		4,032,729.27		200.02		2,016,181.20		2,248,830.45		1,738,448.70		1,744,271.92		2,258,796.40		3,867,440.09
A Plazo		26,072,500.00		72.77		35,827,500.00		95,827,500.00		97,677,500.00		98,927,500.00		100,627,500.00		97,627,500.00
De Ahorros		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
De Bancos		208,870,540.27		23.78		878,302,109.84		920,187,301.75		974,065,560.44		1,091,070,688.34		985,439,476.11		975,187,831.66
A la Vista		-49,433,329.07		-41.85		118,120,039.83		82,782,206.23		95,490,878.75		90,198,396.99		44,057,196.58		91,161,295.26
A Plazo		258,303,869.34		33.98		760,182,070.01		837,405,095.52		878,574,681.69		1,000,872,291.35		941,382,279.53		884,026,536.40
OBLIGACIONES		-224,322,503.87		-10.40		2,156,397,179.46		1,881,473,358.26		1,831,833,854.46		2,128,903,579.48		1,752,199,110.42		1,815,010,696.69
Locales		3,495.42		0.01		30,000,000.00		30,000,000.00		31,868,459.90		30,000,000.00		30,000,000.00		30,000,000.00
Extranjero		-224,325,999.29		-10.55		2,126,397,179.46		1,851,473,358.26		1,799,965,394.56		2,098,903,579.48		1,722,199,110.42		1,785,010,696.69
OTROS PASIVOS		-27,615,336.08		-21.27		129,840,855.71		120,909,042.64		102,899,898.91		86,564,035.26		74,537,253.46		73,908,965.33
Locales		-17,732,036.78		-72.64		24,411,519.37		11,702,379.03		10,338,688.73		8,310,708.32		5,536,711.21		6,037,289.13
Extranjero		-9,883,299.30		-9.37		105,429,336.34		109,206,663.61		92,561,210.18		78,253,326.94		69,000,542.25		67,871,676.20
PATRIMONIO		6,253,852.38		1.07		585,619,846.11		588,844,442.19		591,435,818.14		589,567,626.62		594,987,803.98		598,889,933.12
Capital		1,172,346.39		0.42		280,157,273.47		280,212,949.00		280,263,236.58		280,318,912.11		280,393,029.99		280,682,393.61
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		95,210,153.67
Otras Reservas		-167,361.07		230.83		-72,504.59		68,218.00		22,274.00		-58,735.00		-76,326.00		-163,652.00
Utilidad de Periodos Anteriores		38,693,291.14		25.42		152,204,116.93		207,009,182.67		206,924,182.67		198,931,786.98		198,931,786.98		198,931,786.98
Utilidad de Periodo		-25,318,994.26		-46.27		54,720,070.12		6,125,153.63		8,967,061.66		12,674,036.97		19,848,605.49		23,305,800.64
Ganancia o Perdida en Valores Disponible para la venta		-8,125,429.82		-238.93		3,400,736.51		218,785.22		48,909.56		2,491,471.89		680,553.85		923,450.22
Deuda Subordinada		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
PASIVO Y PATRIMONIO		130,684,416.42		3.33		3,928,531,964.70		3,760,605,068.94		3,748,874,803.28		4,185,178,117.58		3,705,284,304.82		3,773,918,625.70

BANCO LATINOAMERICANO DE EXPORTACIONES

BALANCE DE SITUACION DE DICIEMBRE 2006 Y ENERO - JULIO 2007

(En Balboas)

31 de Agosto de 2007

	2007
Descripción	Junio		Julio		Agosto		Septiembre		Octubre		Noviembre		Diciembre
ACTIVOS LIQUIDOS		230,906,612.74		225,251,357.81		0.00		0.00		0.00		0.00		0.00
Depositos Locales en Bancos		249,374.70		200,575.94		0.00		0.00		0.00		0.00		0.00
A la Vista		249,374.70		200,575.94		0.00		0.00		0.00		0.00		0.00
A Plazo		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Depositos Extranjeros en Bancos		230,648,229.85		225,046,711.62		0.00		0.00		0.00		0.00		0.00
A la Vista		17,748,229.85		6,846,711.62		0.00		0.00		0.00		0.00		0.00
A Plazo		212,900,000.00		218,200,000.00		0.00		0.00		0.00		0.00		0.00
Menos Provisiones		0.00		0.00		0.00		0.00		0.00		0.00		0.00
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		9,008.19		4,070.25		0.00		0.00		0.00		0.00		0.00
CARTERA CREDITICIA		3,346,318,289.23		3,399,513,093.81		0.00		0.00		0.00		0.00		0.00
Locales		156,246,011.28		159,018,174.47		0.00		0.00		0.00		0.00		0.00
Extranjero		3,259,046,607.73		3,309,575,019.73		0.00		0.00		0.00		0.00		0.00
Menos Provisiones		68,974,329.78		69,080,100.39		0.00		0.00		0.00		0.00		0.00
Locales		800,616.34		800,616.34		0.00		0.00		0.00		0.00		0.00
Extranjero		68,173,713.44		68,279,484.05		0.00		0.00		0.00		0.00		0.00
INVERSIONES EN VALORES		275,295,067.05		330,636,735.82		0.00		0.00		0.00		0.00		0.00
Locales		19,807,400.00		20,009,800.00		0.00		0.00		0.00		0.00		0.00
Extranjero		255,487,667.05		310,626,935.82		0.00		0.00		0.00		0.00		0.00
Menos Provisiones		0.00		0.00		0.00		0.00		0.00		0.00		0.00
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		91,679,069.89		103,815,193.71		0.00		0.00		0.00		0.00		0.00
Locales		7,040,979.90		1,314,560.20		0.00		0.00		0.00		0.00		0.00
Extranjero		84,638,089.99		102,500,633.51		0.00		0.00		0.00		0.00		0.00
TOTAL DE ACTIVOS		3,944,199,038.91		4,059,216,381.15		0.00		0.00		0.00		0.00		0.00
DEPOSITOS		1,380,740,164.51		1,433,042,487.41		0.00		0.00		0.00		0.00		0.00
Locales		267,002,901.04		277,920,926.83		0.00		0.00		0.00		0.00		0.00
Oficiales		0.00		0.00		0.00		0.00		0.00		0.00		0.00
De Particulares		0.00		0.00		0.00		0.00		0.00		0.00		0.00
A la Vista		0.00		0.00		0.00		0.00		0.00		0.00		0.00
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		267,002,901.04		277,920,926.83		0.00		0.00		0.00		0.00		0.00
A la Vista		18,201,829.30		16,078,149.99		0.00		0.00		0.00		0.00		0.00
A Plazo		248,801,071.74		261,842,776.84		0.00		0.00		0.00		0.00		0.00
Extranjero		1,113,737,263.47		1,155,121,560.58		0.00		0.00		0.00		0.00		0.00
Oficiales		0.00		0.00		0.00		0.00		0.00		0.00		0.00
De Particulares		72,649,022.78		67,948,910.47		0.00		0.00		0.00		0.00		0.00
A la Vista		4,921,522.78		6,048,910.47		0.00		0.00		0.00		0.00		0.00
A Plazo		67,727,500.00		61,900,000.00		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		1,041,088,240.69		1,087,172,650.11		0.00		0.00		0.00		0.00		0.00
A la Vista		85,912,030.44		68,686,710.76		0.00		0.00		0.00		0.00		0.00
A Plazo		955,176,210.25		1,018,485,939.35		0.00		0.00		0.00		0.00		0.00
OBLIGACIONES		1,872,529,067.84		1,932,074,675.59		0.00		0.00		0.00		0.00		0.00
Locales		30,000,000.00		30,003,495.42		0.00		0.00		0.00		0.00		0.00
Extranjero		1,842,529,067.84		1,902,071,180.17		0.00		0.00		0.00		0.00		0.00
OTROS PASIVOS		97,932,784.34		102,225,519.63		0.00		0.00		0.00		0.00		0.00
Locales		13,645,489.19		6,679,482.59		0.00		0.00		0.00		0.00		0.00
Extranjero		84,287,295.15		95,546,037.04		0.00		0.00		0.00		0.00		0.00
PATRIMONIO		592,997,022.26		591,873,698.49		0.00		0.00		0.00		0.00		0.00
Capital		280,780,245.67		281,329,619.86		0.00		0.00		0.00		0.00		0.00
Reservas de Capital		95,210,153.67		95,210,153.67		0.00		0.00		0.00		0.00		0.00
Otras Reservas		-185,426.66		-239,865.66		0.00		0.00		0.00		0.00		0.00
Utilidad de Periodos Anteriores		190,897,408.07		190,897,408.07		0.00		0.00		0.00		0.00		0.00
Utilidad de Periodo		26,750,808.21		29,401,075.86		0.00		0.00		0.00		0.00		0.00
Ganancia o Perdida en Valores Disponible para la venta		-456,166.70		-4,724,693.31		0.00		0.00		0.00		0.00		0.00
Deuda Subordinada		0.00		0.00		0.00		0.00		0.00		0.00		0.00
PASIVO Y PATRIMONIO		3,944,199,038.95		4,059,216,381.12		0.00		0.00		0.00		0.00		0.00

ESTADO DE RESULTADO

BANCO LATINOAMERICANO DE EXPORTACIONES, S.A.

ENERO - JULIO 2007

(En Balboas)

31 de Agosto de 2007

Descripción	Enero		Febrero		Marzo		Trimestre I		Abril		Mayo		Junio		Trimestre II		Julio

Ingresos Por Intereses		19,655,049.68		17,737,463.67		20,683,853.26		58,076,366.61		20,058,754.09		20,588,522.78		19,794,528.99		60,441,805.86		20,732,440.03
Préstamos		16,952,273.81		15,700,845.01		17,395,096.07		50,048,214.89		17,561,997.10		18,564,562.05		17,925,837.23		54,052,396.38		18,786,542.10
Depósitos		868,382.96		769,848.68		996,685.10		2,634,916.74		930,193.10		947,201.26		960,774.98		2,838,169.34		1,006,987.43
Inversiones		1,834,392.91		1,266,769.98		2,292,072.09		5,393,234.98		1,566,563.89		1,076,759.47		907,916.78		3,551,240.14		938,910.50
Egresos de Operaciones		14,530,876.98		12,967,599.32		15,468,817.28		42,967,293.58		15,028,135.92		15,439,705.90		14,664,128.13		45,131,969.95		15,472,983.06
Intereses Pagados		14,529,189.99		12,965,836.71		15,461,564.58		42,956,591.28		15,022,210.56		15,433,623.24		14,661,042.64		45,116,876.44		15,455,164.59
Comisiones		1,686.99		1,762.61		7,252.70		10,702.30		5,925.36		6,082.66		3,085.49		15,093.51		17,818.47
Ingreso Neto de Intereses		5,124,172.70		4,769,864.35		5,215,035.98		15,109,073.03		5,030,618.17		5,148,816.88		5,130,400.86		15,309,835.91		5,259,456.97
Otros Ingresos		3,252,247.96		263,977.66		-5,382.34		3,510,843.28		3,971,172.09		721,461.97		29,892.44		4,722,526.50		185,405.00
Comisiones		532,215.31		345,294.45		369,807.89		1,247,317.65		339,094.38		465,924.72		548,985.88		1,354,004.98		452,907.06
Operaciones con Divisas		-31,867.58		-61,017.34		101,256.36		8,371.44		-27,051.00		13,600.37		-27,484.49		-40,935.12		-22,866.71
Otros ingresos		2,751,900.23		-20,299.45		-476,446.59		2,255,154.19		3,659,128.71		241,936.88		-491,608.95		3,409,456.64		-244,635.35
Ingresos de Operaciones		8,376,420.66		5,033,842.01		5,209,653.64		18,619,916.31		9,001,790.26		5,870,278.85		5,160,293.30		20,032,362.41		5,444,861.97
Egresos Generales		2,251,267.03		2,191,933.98		-3,851,437.28		591,763.73		1,827,221.74		2,413,083.70		-4,519,727.26		-279,421.82		2,794,594.32
Gastos Administrativos		1,389,320.94		1,152,761.57		1,378,644.88		3,920,727.39		876,276.06		1,379,731.65		2,133,608.72		4,389,616.43		1,403,245.40
Gastos Generales		230,861.37		393,847.95		424,127.86		1,048,837.18		423,230.11		511,507.00		415,011.34		1,349,748.45		881,574.41
Gastos de Depreciación		228,406.64		164,173.56		213,327.01		605,907.21		202,702.28		199,719.24		214,359.49		616,781.01		176,484.52
Otros Gastos		402,678.08		481,150.90		-5,867,537.03		-4,983,708.05		325,013.29		322,125.81		-7,282,706.81		-6,635,567.71		333,289.99
Utilidad antes de Provisiones		6,125,153.63		2,841,908.03		9,061,090.92		18,028,152.58		7,174,568.52		3,457,195.15		9,680,020.56		20,311,784.23		2,650,267.65
Provisiones por Cuentas Malas		0.00		0.00		5,354,115.61		5,354,115.61		0.00		0.00		6,235,012.99		6,235,012.99		0.00
Utilidad del Periodo		6,125,153.63		2,841,908.03		3,706,975.31		12,674,036.97		7,174,568.52		3,457,195.15		3,445,007.57		14,076,771.24		2,650,267.65

Descripción	Agosto		Septiembre		Trimestre III		Octubre		Noviembre		Diciembre		Trimestre IV		Acumulado Anual

Ingresos Por Intereses		0.00		0.00		20,732,440.03		0.00		0.00		0.00		0.00		139,250,612.50
Préstamos		0.00		0.00		18,786,542.10		0.00		0.00		0.00		0.00		122,887,153.37
Depósitos		0.00		0.00		1,006,987.43		0.00		0.00		0.00		0.00		6,480,073.51
Inversiones		0.00		0.00		938,910.50		0.00		0.00		0.00		0.00		9,883,385.62
Egresos de Operaciones		0.00		0.00		15,472,983.06		0.00		0.00		0.00		0.00		103,572,246.59
Intereses Pagados		0.00		0.00		15,455,164.59		0.00		0.00		0.00		0.00		103,528,632.31
Comisiones		0.00		0.00		17,818.47		0.00		0.00		0.00		0.00		43,614.28
Ingreso Neto de Intereses		0.00		0.00		5,259,456.97		0.00		0.00		0.00		0.00		35,678,365.91
Otros Ingresos		0.00		0.00		185,405.00		0.00		0.00		0.00		0.00		8,418,774.78
Comisiones		0.00		0.00		452,907.06		0.00		0.00		0.00		0.00		3,054,229.69
Operaciones con Divisas		0.00		0.00		-22,866.71		0.00		0.00		0.00		0.00		-55,430.39
Otros ingresos		0.00		0.00		-244,635.35		0.00		0.00		0.00		0.00		5,419,975.48
Ingresos de Operaciones		0.00		0.00		5,444,861.97		0.00		0.00		0.00		0.00		44,097,140.69
Egresos Generales		0.00		0.00		2,794,594.32		0.00		0.00		0.00		0.00		3,106,936.23
Gastos Administrativos		0.00		0.00		1,403,245.40		0.00		0.00		0.00		0.00		9,713,589.22
Gastos Generales		0.00		0.00		881,574.41		0.00		0.00		0.00		0.00		3,280,160.04
Gastos de Depreciación		0.00		0.00		176,484.52		0.00		0.00		0.00		0.00		1,399,172.74
Otros Gastos		0.00		0.00		333,289.99		0.00		0.00		0.00		0.00		-11,285,985.77
Utilidad antes de Provisiones		0.00		0.00		2,650,267.65		0.00		0.00		0.00		0.00		40,990,204.46
Provisiones por Cuentas Malas		0.00		0.00		0.00		0.00		0.00		0.00		0.00		11,589,128.60
Utilidad del Periodo		0.00		0.00		2,650,267.65		0.00		0.00		0.00		0.00		29,401,075.86

BANCO LATINOAMERICANO DE EXPORTACIONES

BALANCE SHEETS* DECEMBER 2006 AND JANUARY - JULY 2007

(In Balboas)**

August 31, 2007

					2006		2007
Description	Absolute		%		December		January		February		March		April		May
LIQUID ASSETS		-78,399,065.02		-25.82		303,650,422.83		216,202,094.20		242,982,598.61		229,046,233.80		122,698,746.25		208,986,133.47
Local Deposits in Banks		26,684.90		15.35		173,891.04		171,541.89		211,225.69		198,143.77		164,062.71		162,204.31
Demand		26,684.90		15.35		173,891.04		171,541.89		211,225.69		198,143.77		164,062.71		162,204.31
Time		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Foreign Depostis in Banks		-78,418,619.20		-25.84		303,465,330.82		216,015,706.64		242,755,699.36		228,836,963.32		122,369,664.85		208,813,623.54
Demand		2,381,380.80		53.33		4,465,330.82		2,715,706.64		1,255,699.36		30,836,963.32		1,769,664.85		1,313,623.54
Time		-80,800,000.00		-27.02		299,000,000.00		213,300,000.00		241,500,000.00		198,000,000.00		120,600,000.00		207,500,000.00
Less Allowance		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Local		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Foreign		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Others		-7,130.72		-63.66		11,200.97		14,845.67		15,673.56		11,126.71		165,018.69		10,305.62
CREDIT PORTFOLIO		470,007,046.04		16.04		2,929,506,047.77		3,036,256,324.76		3,027,768,900.81		3,245,204,307.99		3,206,861,456.42		3,196,112,772.51
Local		-34,797,601.80		-17.95		193,815,776.27		190,803,578.31		185,116,953.31		158,897,133.10		141,613,868.24		150,123,300.86
Foreign		522,619,226.23		18.75		2,786,955,793.50		2,896,713,920.80		2,893,913,101.85		3,142,920,079.84		3,121,860,493.13		3,102,571,114.20
Less Allowance		17,814,578.39		34.75		51,265,522.00		51,261,174.35		51,261,154.35		56,612,904.95		56,612,904.95		56,581,642.55
Local		-111,111.36		-12.19		911,727.70		911,727.70		911,727.70		811,234.26		811,234.26		779,971.86
Foreign		17,925,689.75		35.60		50,353,794.30		50,349,446.65		50,349,426.65		55,801,670.69		55,801,670.69		55,801,670.69
INVESTMENT SECURITIES		-247,021,627.85		-42.76		577,658,363.67		391,817,270.05		380,907,417.40		632,092,664.10		307,221,604.46		298,088,861.31
Local		87,400.00		0.44		19,922,400.00		19,804,200.00		20,027,600.00		20,085,000.00		20,043,400.00		19,836,600.00
Foreign		-247,109,027.85		-44.31		557,735,963.67		372,013,070.05		360,879,817.40		612,007,664.10		287,178,204.46		278,252,261.31
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		-13,901,936.72		-11.81		117,717,130.43		116,329,379.94		97,215,886.49		78,834,911.65		68,502,497.68		70,730,858.41
Local		-16,300,249.12		-92.54		17,614,809.32		20,511,965.87		10,276,743.98		5,315,339.04		5,574,415.85		2,523,285.04
Foreign		2,398,312.40		2.40		100,102,321.11		95,817,414.07		86,939,142.51		73,519,572.61		62,928,081.83		68,207,573.37
TOTAL ASSETS		130,684,416.45		3.33		3,928,531,964.70		3,760,605,068.95		3,748,874,803.31		4,185,178,117.54		3,705,284,304.81		3,773,918,625.70
DEPOSITS		376,368,403.99		35.62		1,056,674,083.42		1,169,378,225.85		1,222,705,231.77		1,380,142,876.22		1,283,560,136.96		1,286,109,030.56
Local		137,392,634.45		97.77		140,528,292.38		151,114,593.65		149,223,722.63		188,400,415.96		195,234,364.45		209,426,258.81
Government		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Customers		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Demand		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Time		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Savings		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
From Banks		137,392,634.45		97.77		140,528,292.38		151,114,593.65		149,223,722.63		188,400,415.96		195,234,364.45		209,426,258.81
Demand		3,687,767.18		29.76		12,390,382.81		9,751,662.28		13,366,002.78		10,542,777.13		9,856,408.16		7,495,530.19
Time		133,704,867.27		104.34		128,137,909.57		141,362,931.37		135,857,719.85		177,857,638.83		185,377,956.29		201,930,728.62
Foreign		238,975,769.54		26.08		916,145,791.04		1,018,263,632.20		1,073,481,509.14		1,191,742,460.26		1,088,325,772.51		1,076,682,771.75
Government		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Customers		30,105,229.27		79.55		37,843,681.20		98,076,330.45		99,415,948.70		100,671,771.92		102,886,296.40		101,494,940.09
Demand		4,032,729.27		200.02		2,016,181.20		2,248,830.45		1,738,448.70		1,744,271.92		2,258,796.40		3,867,440.09
Time		26,072,500.00		72.77		35,827,500.00		95,827,500.00		97,677,500.00		98,927,500.00		100,627,500.00		97,627,500.00
Savings		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
From Banks		208,870,540.27		23.78		878,302,109.84		920,187,301.75		974,065,560.44		1,091,070,688.34		985,439,476.11		975,187,831.66
Demand		-49,433,329.07		-41.85		118,120,039.83		82,782,206.23		95,490,878.75		90,198,396.99		44,057,196.58		91,161,295.26
Time		258,303,869.34		33.98		760,182,070.01		837,405,095.52		878,574,681.69		1,000,872,291.35		941,382,279.53		884,026,536.40
BORROWINGS		-224,322,503.87		-10.40		2,156,397,179.46		1,881,473,358.26		1,831,833,854.46		2,128,903,579.48		1,752,199,110.42		1,815,010,696.69
Local		3,495.42		0.01		30,000,000.00		30,000,000.00		31,868,459.90		30,000,000.00		30,000,000.00		30,000,000.00
Foreign		-224,325,999.29		-10.55		2,126,397,179.46		1,851,473,358.26		1,799,965,394.56		2,098,903,579.48		1,722,199,110.42		1,785,010,696.69
OTHER LIABILITIES		-27,615,336.08		-21.27		129,840,855.71		120,909,042.64		102,899,898.91		86,564,035.26		74,537,253.46		73,908,965.33
Local		-17,732,036.78		-72.64		24,411,519.37		11,702,379.03		10,338,688.73		8,310,708.32		5,536,711.21		6,037,289.13
Foreign		-9,883,299.30		-9.37		105,429,336.34		109,206,663.61		92,561,210.18		78,253,326.94		69,000,542.25		67,871,676.20
STOCKHOLDERS' EQUITY		6,253,852.38		1.07		585,619,846.11		588,844,442.19		591,435,818.14		589,567,626.62		594,987,803.98		598,889,933.12
Capital		1,172,346.39		0.42		280,157,273.47		280,212,949.00		280,263,236.58		280,318,912.11		280,393,029.99		280,682,393.61
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		95,210,153.67
Other Reserves		-167,361.07		230.83		-72,504.59		68,218.00		22,274.00		-58,735.00		-76,326.00		-163,652.00
Retained Earnings		38,693,291.14		25.42		152,204,116.93		207,009,182.67		206,924,182.67		198,931,786.98		198,931,786.98		198,931,786.98
Net Income		-25,318,994.26		-46.27		54,720,070.12		6,125,153.63		8,967,061.66		12,674,036.97		19,848,605.49		23,305,800.64
Gain or Loss in Securities available for sale		-8,125,429.82		-238.93		3,400,736.51		218,785.22		48,909.56		2,491,471.89		680,553.85		923,450.22
Subordinated Debt		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
LIABILITIES AND STOCKHOLDER'S EQUITY		130,684,416.42		3.33		3,928,531,964.70		3,760,605,068.94		3,748,874,803.28		4,185,178,117.58		3,705,284,304.82		3,773,918,625.70

BANCO LATINOAMERICANO DE EXPORTACIONES

BALANCE SHEETS* DECEMBER 2006 AND JANUARY - JULY 2007

(In Balboas)**

August 31, 2007

	2007
Description	June		July		August		September		October		November		December
LIQUID ASSETS		230,906,612.74		225,251,357.81		0.00		0.00		0.00		0.00		0.00
Local Deposits in Banks		249,374.70		200,575.94		0.00		0.00		0.00		0.00		0.00
Demand		249,374.70		200,575.94		0.00		0.00		0.00		0.00		0.00
Time		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Foreign Deposits in Banks		230,648,229.85		225,046,711.62		0.00		0.00		0.00		0.00		0.00
Demand		17,748,229.85		6,846,711.62		0.00		0.00		0.00		0.00		0.00
Time		212,900,000.00		218,200,000.00		0.00		0.00		0.00		0.00		0.00
Less Allowance		0.00		0.00		0.00		0.00		0.00		0.00		0.00
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		9,008.19		4,070.25		0.00		0.00		0.00		0.00		0.00
CREDIT PORTFOLIO		3,346,318,289.23		3,399,513,093.81		0.00		0.00		0.00		0.00		0.00
Local		156,246,011.28		159,018,174.47		0.00		0.00		0.00		0.00		0.00
Foreign		3,259,046,607.73		3,309,575,019.73		0.00		0.00		0.00		0.00		0.00
Less Allowance		68,974,329.78		69,080,100.39		0.00		0.00		0.00		0.00		0.00
Local		800,616.34		800,616.34		0.00		0.00		0.00		0.00		0.00
Foreign		68,173,713.44		68,279,484.05		0.00		0.00		0.00		0.00		0.00
INVESTMENT SECURITIES		275,295,067.05		330,636,735.82		0.00		0.00		0.00		0.00		0.00
Local		19,807,400.00		20,009,800.00		0.00		0.00		0.00		0.00		0.00
Foreign		255,487,667.05		310,626,935.82		0.00		0.00		0.00		0.00		0.00
Less Allowance		0.00		0.00		0.00		0.00		0.00		0.00		0.00
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		91,679,069.89		103,815,193.71		0.00		0.00		0.00		0.00		0.00
Local		7,040,979.90		1,314,560.20		0.00		0.00		0.00		0.00		0.00
Foreign		84,638,089.99		102,500,633.51		0.00		0.00		0.00		0.00		0.00
TOTAL ASSETS		3,944,199,038.91		4,059,216,381.15		0.00		0.00		0.00		0.00		0.00
DEPOSITS		1,380,740,164.51		1,433,042,487.41		0.00		0.00		0.00		0.00		0.00
Local		267,002,901.04		277,920,926.83		0.00		0.00		0.00		0.00		0.00
Government		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Customers		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Demand		0.00		0.00		0.00		0.00		0.00		0.00		0.00
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		267,002,901.04		277,920,926.83		0.00		0.00		0.00		0.00		0.00
Demand		18,201,829.30		16,078,149.99		0.00		0.00		0.00		0.00		0.00
Time		248,801,071.74		261,842,776.84		0.00		0.00		0.00		0.00		0.00
Foreign		1,113,737,263.47		1,155,121,560.58		0.00		0.00		0.00		0.00		0.00
Government		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Customers		72,649,022.78		67,948,910.47		0.00		0.00		0.00		0.00		0.00
Demand		4,921,522.78		6,048,910.47		0.00		0.00		0.00		0.00		0.00
Time		67,727,500.00		61,900,000.00		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		1,041,088,240.69		1,087,172,650.11		0.00		0.00		0.00		0.00		0.00
Demand		85,912,030.44		68,686,710.76		0.00		0.00		0.00		0.00		0.00
Time		955,176,210.25		1,018,485,939.35		0.00		0.00		0.00		0.00		0.00
BORROWINGS		1,872,529,067.84		1,932,074,675.59		0.00		0.00		0.00		0.00		0.00
Local		30,000,000.00		30,003,495.42		0.00		0.00		0.00		0.00		0.00
Foreign		1,842,529,067.84		1,902,071,180.17		0.00		0.00		0.00		0.00		0.00
OTHER LIABILITIES		97,932,784.34		102,225,519.63		0.00		0.00		0.00		0.00		0.00
Local		13,645,489.19		6,679,482.59		0.00		0.00		0.00		0.00		0.00
Foreign		84,287,295.15		95,546,037.04		0.00		0.00		0.00		0.00		0.00
STOCKHOLDERS' EQUITY		592,997,022.26		591,873,698.49		0.00		0.00		0.00		0.00		0.00
Capital		280,780,245.67		281,329,619.86		0.00		0.00		0.00		0.00		0.00
Capital Reserves		95,210,153.67		95,210,153.67		0.00		0.00		0.00		0.00		0.00
Other Reserves		-185,426.66		-239,865.66		0.00		0.00		0.00		0.00		0.00
Retained Earnings		190,897,408.07		190,897,408.07		0.00		0.00		0.00		0.00		0.00
Net Income		26,750,808.21		29,401,075.86		0.00		0.00		0.00		0.00		0.00
Gain or Loss in Securities available for sale		-456,166.70		-4,724,693.31		0.00		0.00		0.00		0.00		0.00
Subordinated Debt		0.00		0.00		0.00		0.00		0.00		0.00		0.00
LIABILITIES AND STOCKHOLDER'S EQUITY		3,944,199,038.95		4,059,216,381.12		0.00		0.00		0.00		0.00		0.00

* Includes only Panama - New York accounts.

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

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

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

STATEMENTS OF INCOME *

BANCO LATINOAMERICANO DE EXPORTACIONES, S.A.

JANUARY - JULY 2007

(In Balboas)**

August 31, 2007

Description	January	February	March	I Quarter	April	May	June	II Quarter	July
Interest Income	19,655,049.68	17,737,463.67	20,683,853.26	58,076,366.61	20,058,754.09	20,588,522.78	19,794,528.99	60,441,805.86	20,732,440.03
Loans	16,952,273.81	15,700,845.01	17,395,096.07	50,048,214.89	17,561,997.10	18,564,562.05	17,925,837.23	54,052,396.38	18,786,542.10
Deposits	868,382.96	769,848.68	996,685.10	2,634,916.74	930,193.10	947,201.26	960,774.98	2,838,169.34	1,006,987.43
Investments	1,834,392.91	1,266,769.98	2,292,072.09	5,393,234.98	1,566,563.89	1,076,759.47	907,916.78	3,551,240.14	938,910.50
Interest Expense	14,530,876.98	12,967,599.32	15,468,817.28	42,967,293.58	15,028,135.92	15,439,705.90	14,664,128.13	45,131,969.95	15,472,983.06
Interest	14,529,189.99	12,965,836.71	15,461,564.58	42,956,591.28	15,022,210.56	15,433,623.24	14,661,042.64	45,116,876.44	15,455,164.59
Commissions	1,686.99	1,762.61	7,252.70	10,702.30	5,925.36	6,082.66	3,085.49	15,093.51	17,818.47
Net Interest Income	5,124,172.70	4,769,864.35	5,215,035.98	15,109,073.03	5,030,618.17	5,148,816.88	5,130,400.86	15,309,835.91	5,259,456.97
Other Income	3,252,247.96	263,977.66	-5,382.34	3,510,843.28	3,971,172.09	721,461.97	29,892.44	4,722,526.50	185,405.00
Commissions	532,215.31	345,294.45	369,807.89	1,247,317.65	339,094.38	465,924.72	548,985.88	1,354,004.98	452,907.06
Foreign currency operations	-31,867.58	-61,017.34	101,256.36	8,371.44	-27,051.00	13,600.37	-27,484.49	-40,935.12	-22,866.71
Other Income	2,751,900.23	-20,299.45	-476,446.59	2,255,154.19	3,659,128.71	241,936.88	-491,608.95	3,409,456.64	-244,635.35
Operating Income	8,376,420.66	5,033,842.01	5,209,653.64	18,619,916.31	9,001,790.26	5,870,278.85	5,160,293.30	20,032,362.41	5,444,861.97
Operating Expenses	2,251,267.03	2,191,933.98	-3,851,437.28	591,763.73	1,827,221.74	2,413,083.70	-4,519,727.26	-279,421.82	2,794,594.32
Administrative expenses	1,389,320.94	1,152,761.57	1,378,644.88	3,920,727.39	876,276.06	1,379,731.65	2,133,608.72	4,389,616.43	1,403,245.40
General expenses	230,861.37	393,847.95	424,127.86	1,048,837.18	423,230.11	511,507.00	415,011.34	1,349,748.45	881,574.41
Depreciation	228,406.64	164,173.56	213,327.01	605,907.21	202,702.28	199,719.24	214,359.49	616,781.01	176,484.52
Other expenses	402,678.08	481,150.90	-5,867,537.03	-4,983,708.05	325,013.29	322,125.81	-7,282,706.81	-6,635,567.71	333,289.99
Net Income before provision for loan losses	6,125,153.63	2,841,908.03	9,061,090.92	18,028,152.58	7,174,568.52	3,457,195.15	9,680,020.56	20,311,784.23	2,650,267.65
Provision for loan losses	0.00	0.00	5,354,115.61	5,354,115.61	0.00	0.00	6,235,012.99	6,235,012.99	0.00
Net Income	6,125,153.63	2,841,908.03	3,706,975.31	12,674,036.97	7,174,568.52	3,457,195.15	3,445,007.57	14,076,771.24	2,650,267.65

Description	August		September		III Quarter		October		November		December		IV Quarter		Year to date
Interest Income		0.00		0.00		20,732,440.03		0.00		0.00		0.00		0.00		139,250,612.50
Loans		0.00		0.00		18,786,542.10		0.00		0.00		0.00		0.00		122,887,153.37
Deposits		0.00		0.00		1,006,987.43		0.00		0.00		0.00		0.00		6,480,073.51
Investments		0.00		0.00		938,910.50		0.00		0.00		0.00		0.00		9,883,385.62
Interest Expense		0.00		0.00		15,472,983.06		0.00		0.00		0.00		0.00		103,572,246.59
Interest		0.00		0.00		15,455,164.59		0.00		0.00		0.00		0.00		103,528,632.31
Commissions		0.00		0.00		17,818.47		0.00		0.00		0.00		0.00		43,614.28
Net Interest Income		0.00		0.00		5,259,456.97		0.00		0.00		0.00		0.00		35,678,365.91
Other Income		0.00		0.00		185,405.00		0.00		0.00		0.00		0.00		8,418,774.78
Commissions		0.00		0.00		452,907.06		0.00		0.00		0.00		0.00		3,054,229.69
Foreign currency operations		0.00		0.00		-22,866.71		0.00		0.00		0.00		0.00		-55,430.39
Other Income		0.00		0.00		-244,635.35		0.00		0.00		0.00		0.00		5,419,975.48
Operating Income		0.00		0.00		5,444,861.97		0.00		0.00		0.00		0.00		44,097,140.69
Operating Expenses		0.00		0.00		2,794,594.32		0.00		0.00		0.00		0.00		3,106,936.23
Administrative expenses		0.00		0.00		1,403,245.40		0.00		0.00		0.00		0.00		9,713,589.22
General expenses		0.00		0.00		881,574.41		0.00		0.00		0.00		0.00		3,280,160.04
Depreciation		0.00		0.00		176,484.52		0.00		0.00		0.00		0.00		1,399,172.74
Other expenses		0.00		0.00		333,289.99		0.00		0.00		0.00		0.00		-11,285,985.77
Net Income before provision for loan losses		0.00		0.00		2,650,267.65		0.00		0.00		0.00		0.00		40,990,204.46
Provision for loan losses		0.00		0.00		0.00		0.00		0.00		0.00		0.00		11,589,128.60
Net Income		0.00		0.00		2,650,267.65		0.00		0.00		0.00		0.00		29,401,075.86