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 May, 2008

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.

May 5, 2008

	Banco Latinoamericano de Exportaciones, S.A.



	By: /s/ Pedro Toll

	Name: Pedro Toll
	Title: Deputy Manager

BANCO LATINOAMERICANO DE EXPORTACIONES

BALANCE DE SITUACIÓN DE DICIEMBRE 2007 Y ENERO - FEBRERO 2008

(En Balboas)

4 de Abril de 2008

					2007		2008
Descripción	Absoluta		%		Diciembre		Enero		Febrero		Marzo		Abril
ACTIVOS LIQUIDOS		2,501,019.06		0.62		401,327,785.63		294,054,753.39		403,828,804.69		0.00		0.00
Depositos Locales en Bancos		-60,726.93		-21.25		285,754.54		233,625.57		225,027.61		0.00		0.00
A la Vista		-60,726.93		-21.25		285,754.54		233,625.57		225,027.61		0.00		0.00
A Plazo		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Depositos Extranjeros en Bancos		2,562,953.03		0.64		401,036,339.06		293,816,988.13		403,599,292.09		0.00		0.00
A la Vista		3,662,953.03		255.02		1,436,339.06		6,216,988.13		5,099,292.09		0.00		0.00
A Plazo		-1,100,000.00		-0.28		399,600,000.00		287,600,000.00		398,500,000.00		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		-1,207.04		-21.21		5,692.03		4,139.69		4,484.99		0.00		0.00
CARTERA CREDITICIA		21,754,051.80		0.59		3,662,194,693.87		3,548,971,499.30		3,683,948,745.67		0.00		0.00
Locales		7,405,110.74		2.93		252,482,566.49		259,592,677.23		259,887,677.23		0.00		0.00
Extranjero		14,587,229.21		0.42		3,479,355,318.34		3,359,260,301.18		3,493,942,547.55		0.00		0.00
Menos Provisiones		238,288.15		0.34		69,643,190.96		69,881,479.11		69,881,479.11		0.00		0.00
Locales		0.00		0.00		1,540,276.12		1,540,276.12		1,540,276.12		0.00		0.00
Extranjero		238,288.15		0.35		68,102,914.84		68,341,202.99		68,341,202.99		0.00		0.00
INVERSIONES EN VALORES		177,004,533.24		30.77		575,308,868.73		720,927,339.13		752,313,401.97		0.00		0.00
Locales		5,828,276.58		8.07		72,196,000.00		72,611,200.00		78,024,276.58		0.00		0.00
Extranjero		171,176,256.66		34.02		503,112,868.73		648,316,139.13		674,289,125.39		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		17,667,332.67		19.42		90,997,568.39		107,647,561.41		108,664,901.06		0.00		0.00
Locales		547,755.41		12.81		4,274,653.41		3,776,255.93		4,822,408.82		0.00		0.00
Extranjero		17,119,577.26		19.74		86,722,914.98		103,871,305.48		103,842,492.24		0.00		0.00
TOTAL DE ACTIVOS		218,926,936.77		4.63		4,729,828,916.62		4,671,601,153.23		4,948,755,853.39		0.00		0.00
DEPOSITOS		-75,356,725.65		-4.98		1,513,041,264.21		1,311,034,546.15		1,437,684,538.56		0.00		0.00
Locales		21,199,735.25		9.39		225,714,906.79		218,952,787.47		246,914,642.04		0.00		0.00
Oficiales		0.00		0.00		0.00		0.00		0.00		0.00		0.00
De Particulares		1,400,838.44		0.00		0.00		0.00		1,400,838.44		0.00		0.00
A la Vista		0.00		0.00		0.00		0.00		0.00		0.00		0.00
A Plazo		1,400,838.44		0.00		0.00		0.00		1,400,838.44		0.00		0.00
De Ahorros		0.00		0.00		0.00		0.00		0.00		0.00		0.00
De Bancos		19,798,896.81		8.77		225,714,906.79		218,952,787.47		245,513,803.60		0.00		0.00
A la Vista		-5,812,046.94		-24.79		23,441,831.87		22,583,638.33		17,629,784.93		0.00		0.00
A Plazo		25,610,943.75		12.66		202,273,074.92		196,369,149.14		227,884,018.67		0.00		0.00
Extranjero		-96,556,460.90		-7.50		1,287,326,357.42		1,092,081,758.68		1,190,769,896.52		0.00		0.00
Oficiales		0.00		0.00		0.00		0.00		0.00		0.00		0.00
De Particulares		5,083,425.34		12.21		41,644,075.95		51,474,906.67		46,727,501.29		0.00		0.00
A la Vista		1,263,425.34		86.30		1,464,075.95		1,474,906.67		2,727,501.29		0.00		0.00
A Plazo		3,820,000.00		9.51		40,180,000.00		50,000,000.00		44,000,000.00		0.00		0.00
De Ahorros		0.00		0.00		0.00		0.00		0.00		0.00		0.00
De Bancos		-101,639,886.24		-8.16		1,245,682,281.47		1,040,606,852.01		1,144,042,395.23		0.00		0.00
A la Vista		17,031,596.44		19.58		86,987,929.72		94,067,907.24		104,019,526.16		0.00		0.00
A Plazo		-118,671,482.68		-10.24		1,158,694,351.75		946,538,944.77		1,040,022,869.07		0.00		0.00
OBLIGACIONES		272,588,630.87		10.84		2,515,025,514.04		2,646,362,875.95		2,787,614,144.91		0.00		0.00
Locales		10,000,000.00		25.00		40,000,000.00		40,000,000.00		50,000,000.00		0.00		0.00
Extranjero		262,588,630.87		10.61		2,475,025,514.04		2,606,362,875.95		2,737,614,144.91		0.00		0.00
OTROS PASIVOS		23,455,547.50		21.15		110,901,341.95		132,364,806.35		134,356,889.45		0.00		0.00
Locales		-2,161,646.48		-39.80		5,431,130.73		4,769,284.35		3,269,484.25		0.00		0.00
Extranjero		25,617,193.98		24.29		105,470,211.22		127,595,522.00		131,087,405.20		0.00		0.00
PATRIMONIO		-1,760,515.84		-0.30		590,860,796.45		581,838,924.86		589,100,280.61		0.00		0.00
Capital		-425,900.10		-0.15		281,921,877.06		281,418,007.88		281,495,976.96		0.00		0.00
Reservas de Capital		0.00		0.00		95,210,153.67		95,210,153.67		95,210,153.67		0.00		0.00
Otras Reservas		-726,179.00		36.13		-2,009,630.66		-3,992,368.66		-2,735,809.66		0.00		0.00
Utilidad de Periodos Anteriores		48,412,422.56		27.68		174,894,542.39		223,306,964.95		223,306,964.95		0.00		0.00
Utilidad de Periodo		-39,476,260.71		-81.44		48,474,828.75		4,793,662.04		8,998,568.04		0.00		0.00
Ganancia o Perdida en Valores Disponible para la venta		-9,544,598.59		125.08		-7,630,974.76		-18,897,495.02		-17,175,573.35		0.00		0.00
Deuda Subordinada		0.00		0.00		0.00		0.00		0.00		0.00		0.00
PASIVO Y PATRIMONIO		218,926,936.88		4.63		4,729,828,916.65		4,671,601,153.31		4,948,755,853.53		0.00		0.00

BANCO LATINOAMERICANO DE EXPORTACIONES

BALANCE DE SITUACIÓN DE DICIEMBRE 2007 Y ENERO - FEBRERO 2008

(En Balboas)

4 de Abril de 2008

	2008
Descripción	Mayo		Junio		Julio		Agosto		Septiembre		Octubre		Noviembre		Diciembre
ACTIVOS LIQUIDOS		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Depositos Locales en Bancos		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
Depositos Extranjeros en Bancos		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
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		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
CARTERA CREDITICIA		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
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
INVERSIONES EN VALORES		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
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		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
TOTAL DE ACTIVOS		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
DEPOSITOS		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
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		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
Extranjero		0.00		0.00		0.00		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		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		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
OBLIGACIONES		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 PASIVOS		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
PATRIMONIO		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Capital		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Reservas de Capital		0.00		0.00		0.00		0.00		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		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Utilidad de Periodo		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Ganancia o Perdida en Valores Disponible para la venta		0.00		0.00		0.00		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		0.00
PASIVO Y PATRIMONIO		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00

ESTADO DE RESULTADO

BANCO LATINOAMERICANO DE EXPORTACIONES, S.A.

ENERO - FEBRERO 2008

(En Balboas)

4 de Abril de 2008

Descripcion	Enero		Febrero		Marzo		Trimestre I		Abril		Mayo		Junio		Trimestre II

Ingresos Por Intereses		23,820,708.96		21,140,086.39		0.00		44,960,795.35		0.00		0.00		0.00		0.00
Préstamos		19,873,381.83		17,551,077.63		0.00		37,424,459.46		0.00		0.00		0.00		0.00
Depósitos		963,411.63		977,905.19		0.00		1,941,316.82		0.00		0.00		0.00		0.00
Inversiones		2,983,915.50		2,611,103.57		0.00		5,595,019.07		0.00		0.00		0.00		0.00
Egresos de Operaciones		17,086,045.88		14,888,086.90		0.00		31,974,132.78		0.00		0.00		0.00		0.00
Intereses Pagados		17,082,770.67		14,884,099.03		0.00		31,966,869.70		0.00		0.00		0.00		0.00
Comisiones		3,275.21		3,987.87		0.00		7,263.08		0.00		0.00		0.00		0.00
Ingreso Neto de Intereses		6,734,663.08		6,251,999.49		0.00		12,986,662.57		0.00		0.00		0.00		0.00
Otros Ingresos		341,795.80		520,165.53		0.00		861,961.33		0.00		0.00		0.00		0.00
Comisiones		541,754.03		505,491.03		0.00		1,047,245.06		0.00		0.00		0.00		0.00
Operaciones con Divisas		-75.15		48,830.21		0.00		48,755.06		0.00		0.00		0.00		0.00
Otros ingresos		-199,883.08		-34,155.71		0.00		-234,038.79		0.00		0.00		0.00		0.00
Ingresos de Operaciones		7,076,458.88		6,772,165.02		0.00		13,848,623.90		0.00		0.00		0.00		0.00
Egresos Generales		2,282,796.84		2,567,259.02		0.00		4,850,055.86		0.00		0.00		0.00		0.00
Gastos Administrativos		1,326,096.44		1,600,317.40		0.00		2,926,413.84		0.00		0.00		0.00		0.00
Gastos Generales		285,612.41		386,276.73		0.00		671,889.14		0.00		0.00		0.00		0.00
Gastos de Depreciación		217,222.95		215,560.48		0.00		432,783.43		0.00		0.00		0.00		0.00
Otros Gastos		453,865.04		365,104.41		0.00		818,969.45		0.00		0.00		0.00		0.00
Utilidad antes de Provisiones		4,793,662.04		4,204,906.00		0.00		8,998,568.04		0.00		0.00		0.00		0.00
Provisiones por Cuentas Malas		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Utilidad del Periodo		4,793,662.04		4,204,906.00		0.00		8,998,568.04		0.00		0.00		0.00		0.00

ESTADO DE RESULTADO

BANCO LATINOAMERICANO DE EXPORTACIONES, S.A.

ENERO - FEBRERO 2008

(En Balboas)

4 de Abril de 2008

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

Ingresos Por Intereses		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		44,960,795.35
Préstamos		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		37,424,459.46
Depósitos		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		1,941,316.82
Inversiones		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		5,595,019.07
Egresos de Operaciones		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		31,974,132.78
Intereses Pagados		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		31,966,869.70
Comisiones		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		7,263.08
Ingreso Neto de Intereses		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		12,986,662.57
Otros Ingresos		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		861,961.33
Comisiones		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		1,047,245.06
Operaciones con Divisas		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		48,755.06
Otros ingresos		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		-234,038.79
Ingresos de Operaciones		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		13,848,623.90
Egresos Generales		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		4,850,055.86
Gastos Administrativos		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		2,926,413.84
Gastos Generales		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		671,889.14
Gastos de Depreciación		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		432,783.43
Otros Gastos		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		818,969.45
Utilidad antes de Provisiones		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		8,998,568.04
Provisiones por Cuentas Malas		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Utilidad del Periodo		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		8,998,568.04

BANCO LATINOAMERICANO DE EXPORTACIONES

BALANCE SHEETS* DECEMBER 2007 AND JANUARY - FEBRUARY 2008

(In Balboas)**

April 4, 2008

					2007		2008
Description	Absolute		%		December		January		February		March		April
LIQUID ASSETS		2,501,019.06		0.62		401,327,785.63		294,054,753.39		403,828,804.69		0.00		0.00
Local Deposits in Banks		-60,726.93		-21.25		285,754.54		233,625.57		225,027.61		0.00		0.00
Demand		-60,726.93		-21.25		285,754.54		233,625.57		225,027.61		0.00		0.00
Time		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Foreign Deposits in Banks		2,562,953.03		0.64		401,036,339.06		293,816,988.13		403,599,292.09		0.00		0.00
Demand		3,662,953.03		255.02		1,436,339.06		6,216,988.13		5,099,292.09		0.00		0.00
Time		-1,100,000.00		-0.28		399,600,000.00		287,600,000.00		398,500,000.00		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		-1,207.04		-21.21		5,692.03		4,139.69		4,484.99		0.00		0.00
CREDIT PORTFOLIO		21,754,051.80		0.59		3,662,194,693.87		3,548,971,499.30		3,683,948,745.67		0.00		0.00
Local		7,405,110.74		2.93		252,482,566.49		259,592,677.23		259,887,677.23		0.00		0.00
Foreign		14,587,229.21		0.42		3,479,355,318.34		3,359,260,301.18		3,493,942,547.55		0.00		0.00
Less Allowance		238,288.15		0.34		69,643,190.96		69,881,479.11		69,881,479.11		0.00		0.00
Local		0.00		0.00		1,540,276.12		1,540,276.12		1,540,276.12		0.00		0.00
Foreign		238,288.15		0.35		68,102,914.84		68,341,202.99		68,341,202.99		0.00		0.00
INVESTMENT SECURITIES		177,004,533.24		30.77		575,308,868.73		720,927,339.13		752,313,401.97		0.00		0.00
Local		5,828,276.58		8.07		72,196,000.00		72,611,200.00		78,024,276.58		0.00		0.00
Foreign		171,176,256.66		34.02		503,112,868.73		648,316,139.13		674,289,125.39		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		17,667,332.67		19.42		90,997,568.39		107,647,561.41		108,664,901.06		0.00		0.00
Local		547,755.41		12.81		4,274,653.41		3,776,255.93		4,822,408.82		0.00		0.00
Foreign		17,119,577.26		19.74		86,722,914.98		103,871,305.48		103,842,492.24		0.00		0.00
TOTAL ASSETS		218,926,936.77		4.63		4,729,828,916.62		4,671,601,153.23		4,948,755,853.39		0.00		0.00
DEPOSITS		-75,356,725.65		-4.98		1,513,041,264.21		1,311,034,546.15		1,437,684,538.56		0.00		0.00
Local		21,199,735.25		9.39		225,714,906.79		218,952,787.47		246,914,642.04		0.00		0.00
Government		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Customers		1,400,838.44		0.00		0.00		0.00		1,400,838.44		0.00		0.00
Demand		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Time		1,400,838.44		0.00		0.00		0.00		1,400,838.44		0.00		0.00
Savings		0.00		0.00		0.00		0.00		0.00		0.00		0.00
From Banks		19,798,896.81		8.77		225,714,906.79		218,952,787.47		245,513,803.60		0.00		0.00
Demand		-5,812,046.94		-24.79		23,441,831.87		22,583,638.33		17,629,784.93		0.00		0.00
Time		25,610,943.75		12.66		202,273,074.92		196,369,149.14		227,884,018.67		0.00		0.00
Foreign		-96,556,460.90		-7.50		1,287,326,357.42		1,092,081,758.68		1,190,769,896.52		0.00		0.00
Government		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Customers		5,083,425.34		12.21		41,644,075.95		51,474,906.67		46,727,501.29		0.00		0.00
Demand		1,263,425.34		86.30		1,464,075.95		1,474,906.67		2,727,501.29		0.00		0.00
Time		3,820,000.00		9.51		40,180,000.00		50,000,000.00		44,000,000.00		0.00		0.00
Savings		0.00		0.00		0.00		0.00		0.00		0.00		0.00
From Banks		-101,639,886.24		-8.16		1,245,682,281.47		1,040,606,852.01		1,144,042,395.23		0.00		0.00
Demand		17,031,596.44		19.58		86,987,929.72		94,067,907.24		104,019,526.16		0.00		0.00
Time		-118,671,482.68		-10.24		1,158,694,351.75		946,538,944.77		1,040,022,869.07		0.00		0.00
BORROWINGS		272,588,630.87		10.84		2,515,025,514.04		2,646,362,875.95		2,787,614,144.91		0.00		0.00
Local		10,000,000.00		25.00		40,000,000.00		40,000,000.00		50,000,000.00		0.00		0.00
Foreign		262,588,630.87		10.61		2,475,025,514.04		2,606,362,875.95		2,737,614,144.91		0.00		0.00
OTHER LIABILITIES		23,455,547.50		21.15		110,901,341.95		132,364,806.35		134,356,889.45		0.00		0.00
Local		-2,161,646.48		-39.80		5,431,130.73		4,769,284.35		3,269,484.25		0.00		0.00
Foreign		25,617,193.98		24.29		105,470,211.22		127,595,522.00		131,087,405.20		0.00		0.00
STOCKHOLDERS´ EQUITY		-1,760,515.84		-0.30		590,860,796.45		581,838,924.86		589,100,280.61		0.00		0.00
Capital		-425,900.10		-0.15		281,921,877.06		281,418,007.88		281,495,976.96		0.00		0.00
Capital Reserves		0.00		0.00		95,210,153.67		95,210,153.67		95,210,153.67		0.00		0.00
Other Reserves		-726,179.00		36.13		-2,009,630.66		-3,992,368.66		-2,735,809.66		0.00		0.00
Retained Earnings		48,412,422.56		27.68		174,894,542.39		223,306,964.95		223,306,964.95		0.00		0.00
Net Income		-39,476,260.71		-81.44		48,474,828.75		4,793,662.04		8,998,568.04		0.00		0.00
Gain or Loss in Securities available for sale		-9,544,598.59		125.08		-7,630,974.76		-18,897,495.02		-17,175,573.35		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		218,926,936.88		4.63		4,729,828,916.65		4,671,601,153.31		4,948,755,853.53		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).

BANCO LATINOAMERICANO DE EXPORTACIONES

BALANCE SHEETS* DECEMBER 2007 AND JANUARY - FEBRUARY 2008

(In Balboas)**

April 4, 2008

	2008
Description	May		June		July		August		September		October		November		December
LIQUID ASSETS		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Local Deposits in Banks		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
Foreign Deposits in Banks		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
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		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
CREDIT PORTFOLIO		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
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
INVESTMENT SECURITIES		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
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		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
TOTAL ASSETS		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
DEPOSITS		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
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		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
Foreign		0.00		0.00		0.00		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		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		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
BORROWINGS		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 LIABILITIES		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
STOCKHOLDERS´ EQUITY		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Capital		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Capital Reserves		0.00		0.00		0.00		0.00		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		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Net Income		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Gain or Loss in Securities available for sale		0.00		0.00		0.00		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		0.00
LIABILITIES AND STOCKHOLDER'S EQUITY		0.00		0.00		0.00		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 - FEBRUARY 2008

(In Balboas)**

April 4, 2008

Description	January		February		March		I Quarter		April		May		June		II Quarter

Interest Income		23,820,708.96		21,140,086.39		0.00		44,960,795.35		0.00		0.00		0.00		0.00
Loans		19,873,381.83		17,551,077.63		0.00		37,424,459.46		0.00		0.00		0.00		0.00
Deposits		963,411.63		977,905.19		0.00		1,941,316.82		0.00		0.00		0.00		0.00
Investments		2,983,915.50		2,611,103.57		0.00		5,595,019.07		0.00		0.00		0.00		0.00
Interest Expense		17,086,045.88		14,888,086.90		0.00		31,974,132.78		0.00		0.00		0.00		0.00
Interest		17,082,770.67		14,884,099.03		0.00		31,966,869.70		0.00		0.00		0.00		0.00
Commissions		3,275.21		3,987.87		0.00		7,263.08		0.00		0.00		0.00		0.00
Net Interest Income		6,734,663.08		6,251,999.49		0.00		12,986,662.57		0.00		0.00		0.00		0.00
Other Income		341,795.80		520,165.53		0.00		861,961.33		0.00		0.00		0.00		0.00
Commissions		541,754.03		505,491.03		0.00		1,047,245.06		0.00		0.00		0.00		0.00
Foreign currency operations		-75.15		48,830.21		0.00		48,755.06		0.00		0.00		0.00		0.00
Other Income		-199,883.08		-34,155.71		0.00		-234,038.79		0.00		0.00		0.00		0.00
Operating Income		7,076,458.88		6,772,165.02		0.00		13,848,623.90		0.00		0.00		0.00		0.00
Operating Expenses		2,282,796.84		2,567,259.02		0.00		4,850,055.86		0.00		0.00		0.00		0.00
Administrative expenses		1,326,096.44		1,600,317.40		0.00		2,926,413.84		0.00		0.00		0.00		0.00
General expenses		285,612.41		386,276.73		0.00		671,889.14		0.00		0.00		0.00		0.00
Depreciation		217,222.95		215,560.48		0.00		432,783.43		0.00		0.00		0.00		0.00
Other expenses		453,865.04		365,104.41		0.00		818,969.45		0.00		0.00		0.00		0.00
Net Income before provision for loan losses		4,793,662.04		4,204,906.00		0.00		8,998,568.04		0.00		0.00		0.00		0.00
Provision for loan losses		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Net Income		4,793,662.04		4,204,906.00		0.00		8,998,568.04		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 - FEBRUARY 2008

(In Balboas)**

April 4, 2008

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

Interest Income		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		44,960,795.35
Loans		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		37,424,459.46
Deposits		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		1,941,316.82
Investments		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		5,595,019.07
Interest Expense		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		31,974,132.78
Interest		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		31,966,869.70
Commissions		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		7,263.08
Net Interest Income		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		12,986,662.57
Other Income		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		861,961.33
Commissions		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		1,047,245.06
Foreign currency operations		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		48,755.06
Other Income		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		-234,038.79
Operating Income		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		13,848,623.90
Operating Expenses		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		4,850,055.86
Administrative expenses		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		2,926,413.84
General expenses		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		671,889.14
Depreciation		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		432,783.43
Other expenses		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		818,969.45
Net Income before provision for loan losses		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		8,998,568.04
Provision for loan losses		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Net Income		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		8,998,568.04

*	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).