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 November, 2006

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

Form 40-F

(Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing information to the Commission pursuant to Rule 12g-3-2(b) under the Securities Exchange Act of 1934.)

Yes

(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.

November 14, 2006

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 2005 Y ENERO-SEPTIEMBRE 2006
(En Balboas)

31 de Octubre de 2006

			2005	2006

Descripción	Absoluta	%	Diciembre	Enero	Febrero	Marzo	Abril

ACTIVOS LIQUIDOS	-173,140,715.51	-75.33	229,850,018.38	196,721,923.53	168,261,614.37	149,386,765.87	114,881,933.56
Depositos Locales en Bancos	48,239.45	42.64	113,130.93	143,003.06	199,605.12	218,218.33	195,234.30
A la Vista	48,239.45	42.64	113,130.93	143,003.06	199,605.12	218,218.33	195,234.30
A Plazo	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Depositos Extranjeros en Bancos	-173,188,757.23	-75.39	229,724,544.72	196,570,119.96	168,050,799.58	149,157,158.27	114,656,067.29
A la Vista	11,242.77	2.14	524,544.72	570,119.96	550,799.58	357,158.27	1,456,067.29
A Plazo	-173,200,000.00	-75.57	229,200,000.00	196,000,000.00	167,500,000.00	148,800,000.00	113,200,000.00
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	-197.73	-1.60	12,342.73	8,800.51	11,209.67	11,389.27	30,631.97
CARTERA CREDITICIA	173,527,170.72	6.75	2,570,571,012.15	2,432,060,734.87	2,493,605,033.89	2,546,352,925.93	2,445,451,397.17
Locales	53,536,018.72	29.32	182,580,335.71	170,060,870.91	178,503,679.16	178,749,183.50	164,433,954.00
Extranjero	130,296,049.20	5.37	2,427,438,626.39	2,301,441,680.16	2,351,554,768.98	2,410,814,109.78	2,324,227,810.52
Menos Provisiones	10,304,897.20	26.12	39,447,949.95	39,441,816.20	36,453,414.25	43,210,367.35	43,210,367.35
Locales	-3,542,533.90	-65.76	5,387,343.78	291,203.74	338,183.72	313,430.15	313,430.15
Extranjero	13,847,431.10	40.66	34,060,606.17	39,150,612.46	36,115,230.53	42,896,937.20	42,896,937.20
INVERSIONES EN VALORES	357,163,875.63	167.27	213,524,943.41	161,836,319.12	190,137,048.43	318,379,517.19	479,437,671.90
Locales	14,900,800.00	293.03	5,085,000.00	5,025,000.00	15,037,500.00	19,900,000.00	19,538,600.00
Extranjero	342,263,075.63	164.20	208,439,943.41	156,811,319.12	175,099,548.43	298,479,517.19	459,899,071.90
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	-75,025,676.15	-48.19	155,673,189.23	155,484,220.45	95,131,234.53	100,419,407.34	87,097,768.59
Locales	13,827,595.82	162.01	8,534,972.50	8,432,445.42	10,482,015.63	11,111,967.66	11,733,718.79
Extranjero	-88,853,271.97	-60.39	147,138,216.73	147,051,775.03	84,649,218.90	89,307,439.68	75,364,049.80
TOTAL DE ACTIVOS	282,524,654.69	8.91	3,169,619,163.17	2,946,103,197.97	2,947,134,931.22	3,114,538,616.33	3,126,868,771.22
DEPOSITOS	57,406,632.97	5.48	1,046,617,541.80	961,172,366.75	1,002,054,391.61	1,144,205,445.24	1,032,514,380.51
Locales	888,873.56	1.16	76,505,979.15	75,068,841.87	75,112,324.52	78,590,621.48	58,392,301.66
Oficiales	0.00	0.00	0.00	0.00	0.00	0.00	0.00
De Particulares	-68,555.47	-100.00	68,555.47	71,526.30	74,493.85	77,503.94	80,508.58
A la Vista	-68,555.47	-100.00	68,555.47	71,526.30	74,493.85	77,503.94	80,508.58
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	957,429.03	1.25	76,437,423.68	74,997,315.57	75,037,830.67	78,513,117.54	58,311,793.08
A la Vista	-12,016,044.54	-61.97	19,389,547.08	13,970,578.97	7,493,199.52	12,950,393.85	11,941,026.48
A Plazo	12,973,473.57	22.74	57,047,876.60	61,026,736.60	67,544,631.15	65,562,723.69	46,370,766.60
Extranjero	56,517,759.41	5.83	970,111,562.65	886,103,524.88	926,942,067.09	1,065,614,823.76	974,122,078.85
Oficiales	0.00	0.00	0.00	0.00	0.00	0.00	0.00
De Particulares	-12,180,865.69	-13.63	89,349,913.77	39,358,612.33	97,190,392.35	97,195,213.72	37,233,638.70
A la Vista	-8,365.69	-0.62	1,349,913.77	1,358,612.33	1,362,892.35	1,367,713.72	1,406,138.70
A Plazo	-12,172,500.00	-13.83	88,000,000.00	38,000,000.00	95,827,500.00	95,827,500.00	35,827,500.00
De Ahorros	0.00	0.00	0.00	0.00	0.00	0.00	0.00
De Bancos	68,698,625.10	7.80	880,761,648.88	846,744,912.55	829,751,674.74	968,419,610.04	936,888,440.15
A la Vista	88,839,893.77	1,172.57	7,576,512.05	7,754,593.37	7,608,750.38	7,348,714.04	7,996,262.90
A Plazo	-20,141,268.67	-2.31	873,185,136.83	838,990,319.18	822,142,924.36	961,070,896.00	928,892,177.25
OBLIGACIONES	372,688,123.03	28.67	1,299,707,654.53	1,160,813,511.50	1,183,159,426.71	1,211,745,735.01	1,394,790,637.04
Locales	1,564,916.66	5.08	30,817,393.24	30,827,326.53	30,816,373.24	20,942,674.80	20,942,674.80
Extranjero	371,123,206.37	29.25	1,268,890,261.29	1,129,986,184.97	1,152,343,053.47	1,190,803,060.21	1,373,847,962.24
OTROS PASIVOS	-98,303,154.77	-48.76	201,606,063.96	199,075,894.63	156,632,231.45	171,422,070.35	111,750,663.85
Locales	19,634,795.17	445.95	4,402,882.06	5,071,759.57	3,546,629.00	5,323,286.18	3,901,354.19
Extranjero	-117,937,949.94	-59.81	197,203,181.90	194,004,135.06	153,085,602.45	166,098,784.17	107,849,309.66
PATRIMONIO	-49,266,946.68	-7.92	621,687,903.33	625,041,425.18	605,288,881.81	587,165,366.10	587,813,089.79
Capital	-28,071,565.05	-9.11	308,036,516.51	308,008,142.60	308,036,320.80	303,325,174.12	301,606,289.18
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	21,191,525.63	15.38	137,799,382.62	217,639,221.93	172,581,437.12	172,689,499.62	172,677,109.59
Utilidad de Periodo	-40,651,161.51	-50.80	80,021,975.18	3,718,273.75	29,376,513.45	16,586,452.24	19,543,853.03
Ganancia o Perdida en Valores Disponible para la venta	-1,735,745.75	-280.02	619,875.35	465,633.23	84,456.77	-645,913.55	-1,224,315.68
Deuda Subordinada	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PASIVO Y PATRIMONIO	282,524,654.55	8.91	3,169,619,163.62	2,946,103,198.06	2,947,134,931.58	3,114,538,616.70	3,126,868,771.19

	2006

Descripción	Mayo	Junio	Julio	Agosto	Septiembre	Octubre	Noviembre	Diciembre

ACTIVOS LIQUIDOS	60,162,287.02	116,681,698.17	82,969,590.27	127,421,667.76	56,709,302.87	0.00	0.00	0.00
Depositos Locales en Bancos	1,086,270.68	192,456.98	151,137.76	173,265.87	161,370.38	0.00	0.00	0.00
A la Vista	1,086,270.68	192,456.98	151,137.76	173,265.87	161,370.38	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	59,063,750.11	116,477,736.13	82,808,317.66	127,236,818.01	56,535,787.49	0.00	0.00	0.00
A la Vista	1,888,750.11	4,402,736.13	633,317.66	2,261,818.01	535,787.49	0.00	0.00	0.00
A Plazo	57,175,000.00	112,075,000.00	82,175,000.00	124,975,000.00	56,000,000.00	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	12,266.23	11,505.06	10,134.85	11,583.88	12,145.00	0.00	0.00	0.00
CARTERA CREDITICIA	2,604,011,689.70	2,663,474,110.09	2,779,175,556.53	2,692,301,632.05	2,744,098,182.87	0.00	0.00	0.00
Locales	185,744,889.15	222,817,921.62	234,290,022.97	238,832,235.22	236,116,354.43	0.00	0.00	0.00
Extranjero	2,461,479,184.50	2,485,840,093.12	2,590,069,682.32	2,498,651,865.32	2,557,734,675.59	0.00	0.00	0.00
Menos Provisiones	43,212,383.95	45,183,904.65	45,184,148.76	45,182,468.49	49,752,847.15	0.00	0.00	0.00
Locales	315,546.75	597,780.08	597,780.08	597,780.08	1,844,809.88	0.00	0.00	0.00
Extranjero	42,896,837.20	44,586,124.57	44,586,368.68	44,584,688.41	47,908,037.27	0.00	0.00	0.00
INVERSIONES EN VALORES	573,108,488.02	579,605,171.05	576,347,033.50	569,969,790.92	570,688,819.04	0.00	0.00	0.00
Locales	19,563,200.00	19,393,800.00	20,032,000.00	19,905,000.00	19,985,800.00	0.00	0.00	0.00
Extranjero	553,545,288.02	560,211,371.05	556,315,033.50	550,064,790.92	550,703,019.04	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	105,497,201.35	171,450,723.28	159,590,841.09	209,511,513.25	80,647,513.08	0.00	0.00	0.00
Locales	20,227,217.91	15,624,063.27	12,561,653.14	7,581,940.26	22,362,568.32	0.00	0.00	0.00
Extranjero	85,269,983.44	155,826,660.01	147,029,187.95	201,929,572.99	58,284,944.76	0.00	0.00	0.00
TOTAL DE ACTIVOS	3,342,779,666.09	3,531,211,702.59	3,598,083,021.39	3,599,204,603.98	3,452,143,817.86	0.00	0.00	0.00
DEPOSITOS	1,159,561,113.48	1,234,729,283.82	1,257,224,332.24	1,154,109,843.93	1,104,024,174.77	0.00	0.00	0.00
Locales	89,225,963.62	115,759,239.50	76,902,163.74	53,819,280.43	77,394,852.71	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	83,591.58	86,671.61	0.00	0.00	0.00	0.00	0.00	0.00
A la Vista	83,591.58	86,671.61	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	89,142,372.04	115,672,567.89	76,902,163.74	53,819,280.43	77,394,852.71	0.00	0.00	0.00
A la Vista	3,545,875.39	13,583,815.60	14,807,923.93	6,644,393.20	7,373,502.54	0.00	0.00	0.00
A Plazo	85,596,496.65	102,088,752.29	62,094,239.81	47,174,887.23	70,021,350.17	0.00	0.00	0.00
Extranjero	1,070,335,149.86	1,118,970,044.32	1,180,322,168.50	1,100,290,563.50	1,026,629,322.06	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	91,547,352.83	76,552,805.35	116,343,763.76	77,161,676.02	77,169,048.08	0.00	0.00	0.00
A la Vista	1,412,160.83	1,417,613.35	1,328,571.76	1,334,176.02	1,341,548.08	0.00	0.00	0.00
A Plazo	90,135,192.00	75,135,192.00	115,015,192.00	75,827,500.00	75,827,500.00	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	978,787,797.03	1,042,417,238.97	1,063,978,404.74	1,023,128,887.48	949,460,273.98	0.00	0.00	0.00
A la Vista	10,032,821.49	122,341,936.99	214,245,470.26	237,379,519.14	96,416,405.82	0.00	0.00	0.00
A Plazo	968,754,975.54	920,075,301.98	849,732,934.48	785,749,368.34	853,043,868.16	0.00	0.00	0.00
OBLIGACIONES	1,471,665,605.17	1,522,873,425.19	1,585,675,401.98	1,639,074,204.57	1,672,395,777.56	0.00	0.00	0.00
Locales	106,430.00	15,000,000.00	15,000,000.00	17,600,390.00	32,382,309.90	0.00	0.00	0.00
Extranjero	1,471,559,175.17	1,507,873,425.19	1,570,675,401.98	1,621,473,814.57	1,640,013,467.66	0.00	0.00	0.00
OTROS PASIVOS	128,125,704.85	208,715,158.78	186,005,931.96	232,770,034.08	103,302,909.19	0.00	0.00	0.00
Locales	4,511,613.14	13,804,435.58	4,699,583.58	12,592,553.49	24,037,677.23	0.00	0.00	0.00
Extranjero	123,614,091.71	194,910,723.20	181,306,348.38	220,177,480.59	79,265,231.96	0.00	0.00	0.00
PATRIMONIO	583,427,242.69	564,893,834.82	569,177,355.54	573,250,521.50	572,420,956.65	0.00	0.00	0.00
Capital	299,135,300.36	283,000,957.06	279,854,931.19	279,911,058.24	279,964,951.46	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	95,210,153.67	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	172,689,499.62	165,647,006.59	165,789,753.85	165,802,421.31	158,990,908.25	0.00	0.00	0.00
Utilidad de Periodo	21,633,608.45	26,988,400.09	29,450,665.83	33,099,910.65	39,370,813.67	0.00	0.00	0.00
Ganancia o Perdida en Valores Disponible para la venta	-5,241,319.41	-5,952,682.59	-1,128,149.00	-773,022.37	-1,115,870.40	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	3,342,779,666.19	3,531,211,702.61	3,598,083,021.72	3,599,204,604.08	3,452,143,818.17	0.00	0.00	0.00

Message

ESTADO DE RESULTADO
BANCO LATINOAMERICANO DE EXPORTACIONES, S.A.
ENERO - SEPTIEMBRE 2006
(En Balboas)

31 de Octubre de 2006

Descripcion	Enero	Febrero	Marzo	Trimestre I	Abril	Mayo	Junio	Trimestre II

Ingresos Por Intereses	12,678,643.01	11,735,785.49	13,694,425.38	38,108,853.88	14,340,235.97	14,884,912.63	17,108,210.46	46,333,359.06
Préstamos	11,020,922.80	10,226,602.75	11,799,182.05	33,046,707.60	12,304,064.12	12,476,384.73	14,324,195.00	39,104,643.85
Depósitos	789,894.27	661,530.80	588,141.77	2,039,566.84	503,510.75	406,992.44	438,295.24	1,348,798.43
Inversiones	867,825.94	847,651.94	1,307,101.56	3,022,579.44	1,532,661.10	2,001,535.46	2,345,720.22	5,879,916.78
Egresos de Operaciones	8,639,458.79	8,118,406.15	9,777,362.52	26,535,227.46	9,933,807.74	10,964,453.99	11,408,542.15	32,306,803.88
Intereses Pagados	8,636,503.50	8,115,643.98	9,775,323.24	26,527,470.72	9,931,415.53	10,961,376.28	11,406,490.21	32,299,282.02
Comisiones	2,955.29	2,762.17	2,039.28	7,756.74	2,392.21	3,077.71	2,051.94	7,521.86
Ingreso Neto de Intereses	4,039,184.22	3,617,379.34	3,917,062.86	11,573,626.42	4,406,428.23	3,920,458.64	5,699,668.31	14,026,555.18
Otros Ingresos	1,471,926.38	1,827,715.16	706,827.75	4,006,469.29	412,524.76	397,246.14	261,229.69	1,071,000.59
Comisiones	570,307.09	419,914.87	589,629.53	1,579,851.49	400,162.87	500,054.36	417,367.94	1,317,585.17
Operaciones con Divisas	26,483.68	6,742.92	-4,812.84	28,413.76	12,266.89	-68,123.53	-190,970.26	-246,826.90
Otros ingresos	875,135.61	1,401,057.37	122,011.06	2,398,204.04	95.00	-34,684.69	34,832.01	242.32
Ingresos de Operaciones	5,511,110.60	5,445,094.50	4,623,890.61	15,580,095.71	4,818,952.99	4,317,704.78	5,960,898.00	15,097,555.77
Egresos Generales	1,792,836.85	-17,226,892.28	10,656,125.67	-4,777,929.76	1,861,552.20	-1,427,714.82	-1,367,224.99	-933,387.61
Gastos Administrativos	1,319,974.99	1,411,330.71	1,556,443.36	4,287,749.06	1,285,024.60	1,388,920.02	1,541,321.58	4,215,266.20
Gastos Generales	182,304.16	387,471.05	555,731.14	1,125,506.35	269,046.17	502,611.54	275,776.63	1,047,434.34
Gastos de Depreciación	57,834.52	50,228.67	56,994.63	165,057.82	55,561.62	93,366.69	62,848.57	211,776.88
Otros Gastos	232,723.18	-19,075,922.71	8,486,956.54	-10,356,242.99	251,919.81	-3,412,613.07	-3,247,171.77	-6,407,865.03
Utilidad antes de Provisiones	3,718,273.75	22,671,986.78	-6,032,235.06	20,358,025.47	2,957,400.79	5,745,419.60	7,328,122.99	16,030,943.38
Provisiones por Cuentas Malas	0.00	-2,986,252.92	6,757,826.15	3,771,573.23	0.00	3,655,664.17	1,973,331.36	5,628,995.53
Utilidad del Periodo	3,718,273.75	25,658,239.70	-12,790,061.21	16,586,452.24	2,957,400.79	2,089,755.43	5,354,791.63	10,401,947.85

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

Ingresos Por Intereses	17,340,697.57	18,127,420.84	17,250,699.90	52,718,818.31	0.00	0.00	0.00	0.00	137,161,031.25
Préstamos	14,492,515.68	15,272,357.02	14,639,499.31	44,404,372.01	0.00	0.00	0.00	0.00	116,555,723.46
Depósitos	524,744.22	512,986.63	325,722.43	1,363,453.28	0.00	0.00	0.00	0.00	4,751,818.55
Inversiones	2,323,437.67	2,342,077.19	2,285,478.16	6,950,993.02	0.00	0.00	0.00	0.00	15,853,489.24
Egresos de Operaciones	12,874,950.71	12,955,694.24	12,507,678.74	38,338,323.69	0.00	0.00	0.00	0.00	97,180,355.03
Intereses Pagados	12,872,745.21	12,954,552.57	12,506,656.12	38,333,953.90	0.00	0.00	0.00	0.00	97,160,706.64
Comisiones	2,205.50	1,141.67	1,022.62	4,369.79	0.00	0.00	0.00	0.00	19,648.39
Ingreso Neto de Intereses	4,465,746.86	5,171,726.60	4,743,021.16	14,380,494.62	0.00	0.00	0.00	0.00	39,980,676.22
Otros Ingresos	519,407.16	823,168.23	357,470.46	1,700,045.85	0.00	0.00	0.00	0.00	6,777,515.73
Comisiones	628,524.98	717,641.25	448,590.92	1,794,757.15	0.00	0.00	0.00	0.00	4,692,193.81
Operaciones con Divisas	-17,722.19	-27,914.43	-15,348.03	-60,984.65	0.00	0.00	0.00	0.00	-279,397.79
Otros ingresos	-91,395.63	133,441.41	-75,772.43	-33,726.65	0.00	0.00	0.00	0.00	2,364,719.71
Ingresos de Operaciones	4,985,154.02	5,994,894.83	5,100,491.62	16,080,540.47	0.00	0.00	0.00	0.00	46,758,191.95
Egresos Generales	2,522,888.27	2,345,650.01	-5,745,848.19	-877,309.91	0.00	0.00	0.00	0.00	-6,588,627.28
Gastos Administrativos	1,510,014.26	1,050,298.66	778,351.23	3,338,664.15	0.00	0.00	0.00	0.00	11,841,679.41
Gastos Generales	476,154.36	363,262.05	231,649.54	1,071,065.95	0.00	0.00	0.00	0.00	3,244,006.64
Gastos de Depreciación	152,820.07	140,589.47	149,131.68	442,541.22	0.00	0.00	0.00	0.00	819,375.92
Otros Gastos	383,899.58	791,499.83	-6,904,980.64	-5,729,581.23	0.00	0.00	0.00	0.00	-22,493,689.25
Utilidad antes de Provisiones	2,462,265.75	3,649,244.82	10,846,339.81	16,957,850.38	0.00	0.00	0.00	0.00	53,346,819.23
Provisiones por Cuentas Malas	0.00	0.00	4,575,436.79	4,575,436.79	0.00	0.00	0.00	0.00	13,976,005.55
Utilidad del Periodo	2,462,265.75	3,649,244.82	6,270,903.02	12,382,413.59	0.00	0.00	0.00	0.00	39,370,813.68


		October 31st, 2006
	BANCO LATINOAMERICANO DE EXPORTACIONES BALANCE SHEETS* December 2005 and JANUARY-SEPTEMBER 2006 (In Balboas)**

			2005	2006

Descripción	Absolute	%	December	January	February	March	April

LIQUID ASSETS	-173,140,715.51	-75.33	229,850,018.38	196,721,923.53	168,261,614.37	149,386,765.87	114,881,933.56
Local Deposits in Banks	48,239.45	42.64	113,130.93	143,003.06	199,605.12	218,218.33	195,234.30
Demand	48,239.45	42.64	113,130.93	143,003.06	199,605.12	218,218.33	195,234.30
Time	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Foreign Deposits in Banks	-173,188,757.23	-75.39	229,724,544.72	196,570,119.96	168,050,799.58	149,157,158.27	114,656,067.29
Demand	11,242.77	2.14	524,544.72	570,119.96	550,799.58	357,158.27	1,456,067.29
Time	-173,200,000.00	-75.57	229,200,000.00	196,000,000.00	167,500,000.00	148,800,000.00	113,200,000.00
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	-197.73	-1.60	12,342.73	8,800.51	11,209.67	11,389.27	30,631.97
CREDIT PORTFOLIO	173,527,170.72	6.75	2,570,571,012.15	2,432,060,734.87	2,493,605,033.89	2,546,352,925.93	2,445,451,397.17
Local	53,536,018.72	29.32	182,580,335.71	170,060,870.91	178,503,679.16	178,749,183.50	164,433,954.00
Foreign	130,296,049.20	5.37	2,427,438,626.39	2,301,441,680.16	2,351,554,768.98	2,410,814,109.78	2,324,227,810.52
Less Allowance	10,304,897.20	26.12	39,447,949.95	39,441,816.20	36,453,414.25	43,210,367.35	43,210,367.35
Local	-3,542,533.90	-65.76	5,387,343.78	291,203.74	338,183.72	313,430.15	313,430.15
Foreign	13,847,431.10	40.66	34,060,606.17	39,150,612.46	36,115,230.53	42,896,937.20	42,896,937.20
INVESTMENT SECURITIES	357,163,875.63	167.27	213,524,943.41	161,836,319.12	190,137,048.43	318,379,517.19	479,437,671.90
Local	14,900,800.00	293.03	5,085,000.00	5,025,000.00	15,037,500.00	19,900,000.00	19,538,600.00
Foreign	342,263,075.63	164.20	208,439,943.41	156,811,319.12	175,099,548.43	298,479,517.19	459,899,071.90
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	-75,025,676.15	-48.19	155,673,189.23	155,484,220.45	95,131,234.53	100,419,407.34	87,097,768.59
Local	13,827,595.82	162.01	8,534,972.50	8,432,445.42	10,482,015.63	11,111,967.66	11,733,718.79
Foreign	-88,853,271.97	-60.39	147,138,216.73	147,051,775.03	84,649,218.90	89,307,439.68	75,364,049.80
TOTAL ASSETS	282,524,654.69	8.91	3,169,619,163.17	2,946,103,197.97	2,947,134,931.22	3,114,538,616.33	3,126,868,771.22
DEPOSITS	57,406,632.97	5.48	1,046,617,541.80	961,172,366.75	1,002,054,391.61	1,144,205,445.24	1,032,514,380.51
Local	888,873.56	1.16	76,505,979.15	75,068,841.87	75,112,324.52	78,590,621.48	58,392,301.66
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Customers	-68,555.47	-100.00	68,555.47	71,526.30	74,493.85	77,503.94	80,508.58
Demand	-68,555.47	-100.00	68,555.47	71,526.30	74,493.85	77,503.94	80,508.58
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	957,429.03	1.25	76,437,423.68	74,997,315.57	75,037,830.67	78,513,117.54	58,311,793.08
Demand	-12,016,044.54	-61.97	19,389,547.08	13,970,578.97	7,493,199.52	12,950,393.85	11,941,026.48
Time	12,973,473.57	22.74	57,047,876.60	61,026,736.60	67,544,631.15	65,562,723.69	46,370,766.60
Foreign	56,517,759.41	5.83	970,111,562.65	886,103,524.88	926,942,067.09	1,065,614,823.76	974,122,078.85
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Customers	-12,180,865.69	-13.63	89,349,913.77	39,358,612.33	97,190,392.35	97,195,213.72	37,233,638.70
Demand	-8,365.69	-0.62	1,349,913.77	1,358,612.33	1,362,892.35	1,367,713.72	1,406,138.70
Time	-12,172,500.00	-13.83	88,000,000.00	38,000,000.00	95,827,500.00	95,827,500.00	35,827,500.00
Savings	0.00	0.00	0.00	0.00	0.00	0.00	0.00
From Banks	68,698,625.10	7.80	880,761,648.88	846,744,912.55	829,751,674.74	968,419,610.04	936,888,440.15
Demand	88,839,893.77	1,172.57	7,576,512.05	7,754,593.37	7,608,750.38	7,348,714.04	7,996,262.90
Time	-20,141,268.67	-2.31	873,185,136.83	838,990,319.18	822,142,924.36	961,070,896.00	928,892,177.25
BORROWINGS	372,688,123.03	28.67	1,299,707,654.53	1,160,813,511.50	1,183,159,426.71	1,211,745,735.01	1,394,790,637.04
Local	1,564,916.66	5.08	30,817,393.24	30,827,326.53	30,816,373.24	20,942,674.80	20,942,674.80
Foreign	371,123,206.37	29.25	1,268,890,261.29	1,129,986,184.97	1,152,343,053.47	1,190,803,060.21	1,373,847,962.24
OTHER LIABILITIES	-98,303,154.77	-48.76	201,606,063.96	199,075,894.63	156,632,231.45	171,422,070.35	111,750,663.85
Local	19,634,795.17	445.95	4,402,882.06	5,071,759.57	3,546,629.00	5,323,286.18	3,901,354.19
Foreign	-117,937,949.94	-59.81	197,203,181.90	194,004,135.06	153,085,602.45	166,098,784.17	107,849,309.66
STOCKHOLDERS´ EQUITY	-49,266,946.68	-7.92	621,687,903.33	625,041,425.18	605,288,881.81	587,165,366.10	587,813,089.79
Capital	-28,071,565.05	-9.11	308,036,516.51	308,008,142.60	308,036,320.80	303,325,174.12	301,606,289.18
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	21,191,525.63	15.38	137,799,382.62	217,639,221.93	172,581,437.12	172,689,499.62	172,677,109.59
Net Income	-40,651,161.51	-50.80	80,021,975.18	3,718,273.75	29,376,513.45	16,586,452.24	19,543,853.03
Gain or Loss in Securities available for sale	-1,735,745.75	-280.02	619,875.35	465,633.23	84,456.77	-645,913.55	-1,224,315.68
Subordinated Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00
LIABILITIES AND STOCKHOLDER’S EQUITY	282,524,654.55	8.91	3,169,619,163.62	2,946,103,198.06	2,947,134,931.58	3,114,538,616.70	3,126,868,771.19

	2006

Descripción	May	June	July	August	September	October	November	December

LIQUID ASSETS	60,162,287.02	116,681,698.17	82,969,590.27	127,421,667.76	56,709,302.87	0.00	0.00	0.00
Local Deposits in Banks	1,086,270.68	192,456.98	151,137.76	173,265.87	161,370.38	0.00	0.00	0.00
Demand	1,086,270.68	192,456.98	151,137.76	173,265.87	161,370.38	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	59,063,750.11	116,477,736.13	82,808,317.66	127,236,818.01	56,535,787.49	0.00	0.00	0.00
Demand	1,888,750.11	4,402,736.13	633,317.66	2,261,818.01	535,787.49	0.00	0.00	0.00
Time	57,175,000.00	112,075,000.00	82,175,000.00	124,975,000.00	56,000,000.00	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	12,266.23	11,505.06	10,134.85	11,583.88	12,145.00	0.00	0.00	0.00
CREDIT PORTFOLIO	2,604,011,689.70	2,663,474,110.09	2,779,175,556.53	2,692,301,632.05	2,744,098,182.87	0.00	0.00	0.00
Local	185,744,889.15	222,817,921.62	234,290,022.97	238,832,235.22	236,116,354.43	0.00	0.00	0.00
Foreign	2,461,479,184.50	2,485,840,093.12	2,590,069,682.32	2,498,651,865.32	2,557,734,675.59	0.00	0.00	0.00
Less Allowance	43,212,383.95	45,183,904.65	45,184,148.76	45,182,468.49	49,752,847.15	0.00	0.00	0.00
Local	315,546.75	597,780.08	597,780.08	597,780.08	1,844,809.88	0.00	0.00	0.00
Foreign	42,896,837.20	44,586,124.57	44,586,368.68	44,584,688.41	47,908,037.27	0.00	0.00	0.00
INVESTMENT SECURITIES	573,108,488.02	579,605,171.05	576,347,033.50	569,969,790.92	570,688,819.04	0.00	0.00	0.00
Local	19,563,200.00	19,393,800.00	20,032,000.00	19,905,000.00	19,985,800.00	0.00	0.00	0.00
Foreign	553,545,288.02	560,211,371.05	556,315,033.50	550,064,790.92	550,703,019.04	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	105,497,201.35	171,450,723.28	159,590,841.09	209,511,513.25	80,647,513.08	0.00	0.00	0.00
Local	20,227,217.91	15,624,063.27	12,561,653.14	7,581,940.26	22,362,568.32	0.00	0.00	0.00
Foreign	85,269,983.44	155,826,660.01	147,029,187.95	201,929,572.99	58,284,944.76	0.00	0.00	0.00
TOTAL ASSETS	3,342,779,666.09	3,531,211,702.59	3,598,083,021.39	3,599,204,603.98	3,452,143,817.86	0.00	0.00	0.00
DEPOSITS	1,159,561,113.48	1,234,729,283.82	1,257,224,332.24	1,154,109,843.93	1,104,024,174.77	0.00	0.00	0.00
Local	89,225,963.62	115,759,239.50	76,902,163.74	53,819,280.43	77,394,852.71	0.00	0.00	0.00
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Customers	83,591.58	86,671.61	0.00	0.00	0.00	0.00	0.00	0.00
Demand	83,591.58	86,671.61	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	89,142,372.04	115,672,567.89	76,902,163.74	53,819,280.43	77,394,852.71	0.00	0.00	0.00
Demand	3,545,875.39	13,583,815.60	14,807,923.93	6,644,393.20	7,373,502.54	0.00	0.00	0.00
Time	85,596,496.65	102,088,752.29	62,094,239.81	47,174,887.23	70,021,350.17	0.00	0.00	0.00
Foreign	1,070,335,149.86	1,118,970,044.32	1,180,322,168.50	1,100,290,563.50	1,026,629,322.06	0.00	0.00	0.00
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Customers	91,547,352.83	76,552,805.35	116,343,763.76	77,161,676.02	77,169,048.08	0.00	0.00	0.00
Demand	1,412,160.83	1,417,613.35	1,328,571.76	1,334,176.02	1,341,548.08	0.00	0.00	0.00
Time	90,135,192.00	75,135,192.00	115,015,192.00	75,827,500.00	75,827,500.00	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	978,787,797.03	1,042,417,238.97	1,063,978,404.74	1,023,128,887.48	949,460,273.98	0.00	0.00	0.00
Demand	10,032,821.49	122,341,936.99	214,245,470.26	237,379,519.14	96,416,405.82	0.00	0.00	0.00
Time	968,754,975.54	920,075,301.98	849,732,934.48	785,749,368.34	853,043,868.16	0.00	0.00	0.00
BORROWINGS	1,471,665,605.17	1,522,873,425.19	1,585,675,401.98	1,639,074,204.57	1,672,395,777.56	0.00	0.00	0.00
Local	106,430.00	15,000,000.00	15,000,000.00	17,600,390.00	32,382,309.90	0.00	0.00	0.00
Foreign	1,471,559,175.17	1,507,873,425.19	1,570,675,401.98	1,621,473,814.57	1,640,013,467.66	0.00	0.00	0.00
OTHER LIABILITIES	128,125,704.85	208,715,158.78	186,005,931.96	232,770,034.08	103,302,909.19	0.00	0.00	0.00
Local	4,511,613.14	13,804,435.58	4,699,583.58	12,592,553.49	24,037,677.23	0.00	0.00	0.00
Foreign	123,614,091.71	194,910,723.20	181,306,348.38	220,177,480.59	79,265,231.96	0.00	0.00	0.00
STOCKHOLDERS´ EQUITY	583,427,242.69	564,893,834.82	569,177,355.54	573,250,521.50	572,420,956.65	0.00	0.00	0.00
Capital	299,135,300.36	283,000,957.06	279,854,931.19	279,911,058.24	279,964,951.46	0.00	0.00	0.00
Capital Reserves	95,210,153.67	95,210,153.67	95,210,153.67	95,210,153.67	95,210,153.67	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	172,689,499.62	165,647,006.59	165,789,753.85	165,802,421.31	158,990,908.25	0.00	0.00	0.00
Net Income	21,633,608.45	26,988,400.09	29,450,665.83	33,099,910.65	39,370,813.67	0.00	0.00	0.00
Gain or Loss in Securities available for sale	-5,241,319.41	-5,952,682.59	-1,128,149.00	-773,022.37	-1,115,870.40	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	3,342,779,666.19	3,531,211,702.61	3,598,083,021.72	3,599,204,604.08	3,452,143,818.17	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 31st, 2006
	STATEMENTS OF INCOME * BANCO LATINOAMERICANO DE EXPORTACIONES, S.A. January - September 2006
	(In Balboas)**

Description	January	February	March	I Quarter	April	May	June	II Quarter

Interest Income	12,678,643.01	11,735,785.49	13,694,425.38	38,108,853.88	14,340,235.97	14,884,912.63	17,108,210.46	46,333,359.06
Loans	11,020,922.80	10,226,602.75	11,799,182.05	33,046,707.60	12,304,064.12	12,476,384.73	14,324,195.00	39,104,643.85
Deposits	789,894.27	661,530.80	588,141.77	2,039,566.84	503,510.75	406,992.44	438,295.24	1,348,798.43
Investments	867,825.94	847,651.94	1,307,101.56	3,022,579.44	1,532,661.10	2,001,535.46	2,345,720.22	5,879,916.78
Interest Expense	8,639,458.79	8,118,406.15	9,777,362.52	26,535,227.46	9,933,807.74	10,964,453.99	11,408,542.15	32,306,803.88
Interest	8,636,503.50	8,115,643.98	9,775,323.24	26,527,470.72	9,931,415.53	10,961,376.28	11,406,490.21	32,299,282.02
Commissions	2,955.29	2,762.17	2,039.28	7,756.74	2,392.21	3,077.71	2,051.94	7,521.86
Net Interest Income	4,039,184.22	3,617,379.34	3,917,062.86	11,573,626.42	4,406,428.23	3,920,458.64	5,699,668.31	14,026,555.18
Other Income	1,471,926.38	1,827,715.16	706,827.75	4,006,469.29	412,524.76	397,246.14	261,229.69	1,071,000.59
Commissions	570,307.09	419,914.87	589,629.53	1,579,851.49	400,162.87	500,054.36	417,367.94	1,317,585.17
Foreign currency operations	26,483.68	6,742.92	-4,812.84	28,413.76	12,266.89	-68,123.53	-190,970.26	-246,826.90
Other Income	875,135.61	1,401,057.37	122,011.06	2,398,204.04	95.00	-34,684.69	34,832.01	242.32
Operating Income	5,511,110.60	5,445,094.50	4,623,890.61	15,580,095.71	4,818,952.99	4,317,704.78	5,960,898.00	15,097,555.77
Operating Expenses	1,792,836.85	-17,226,892.28	10,656,125.67	-4,777,929.76	1,861,552.20	-1,427,714.82	-1,367,224.99	-933,387.61
Administrative expenses	1,319,974.99	1,411,330.71	1,556,443.36	4,287,749.06	1,285,024.60	1,388,920.02	1,541,321.58	4,215,266.20
General expenses	182,304.16	387,471.05	555,731.14	1,125,506.35	269,046.17	502,611.54	275,776.63	1,047,434.34
Depreciation	57,834.52	50,228.67	56,994.63	165,057.82	55,561.62	93,366.69	62,848.57	211,776.88
Other expenses	232,723.18	-19,075,922.71	8,486,956.54	-10,356,242.99	251,919.81	-3,412,613.07	-3,247,171.77	-6,407,865.03
Net Income before provision for loan losses	3,718,273.75	22,671,986.78	-6,032,235.06	20,358,025.47	2,957,400.79	5,745,419.60	7,328,122.99	16,030,943.38
Provision for loan losses	0.00	-2,986,252.92	6,757,826.15	3,771,573.23	0.00	3,655,664.17	1,973,331.36	5,628,995.53
Net Income	3,718,273.75	25,658,239.70	-12,790,061.21	16,586,452.24	2,957,400.79	2,089,755.43	5,354,791.63	10,401,947.85

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

Interest Income	17,340,697.57	18,127,420.84	17,250,699.90	52,718,818.31	0.00	0.00	0.00	0.00	137,161,031.25
Loans	14,492,515.68	15,272,357.02	14,639,499.31	44,404,372.01	0.00	0.00	0.00	0.00	116,555,723.46
Deposits	524,744.22	512,986.63	325,722.43	1,363,453.28	0.00	0.00	0.00	0.00	4,751,818.55
Investments	2,323,437.67	2,342,077.19	2,285,478.16	6,950,993.02	0.00	0.00	0.00	0.00	15,853,489.24
Interest Expense	12,874,950.71	12,955,694.24	12,507,678.74	38,338,323.69	0.00	0.00	0.00	0.00	97,180,355.03
Interest	12,872,745.21	12,954,552.57	12,506,656.12	38,333,953.90	0.00	0.00	0.00	0.00	97,160,706.64
Commissions	2,205.50	1,141.67	1,022.62	4,369.79	0.00	0.00	0.00	0.00	19,648.39
Net Interest Income	4,465,746.86	5,171,726.60	4,743,021.16	14,380,494.62	0.00	0.00	0.00	0.00	39,980,676.22
Other Income	519,407.16	823,168.23	357,470.46	1,700,045.85	0.00	0.00	0.00	0.00	6,777,515.73
Commissions	628,524.98	717,641.25	448,590.92	1,794,757.15	0.00	0.00	0.00	0.00	4,692,193.81
Foreign currency operations	-17,722.19	-27,914.43	-15,348.03	-60,984.65	0.00	0.00	0.00	0.00	-279,397.79
Other Income	-91,395.63	133,441.41	-75,772.43	-33,726.65	0.00	0.00	0.00	0.00	2,364,719.71
Operating Income	4,985,154.02	5,994,894.83	5,100,491.62	16,080,540.47	0.00	0.00	0.00	0.00	46,758,191.95
Operating Expenses	2,522,888.27	2,345,650.01	-5,745,848.19	-877,309.91	0.00	0.00	0.00	0.00	-6,588,627.28
Administrative expenses	1,510,014.26	1,050,298.66	778,351.23	3,338,664.15	0.00	0.00	0.00	0.00	11,841,679.41
General expenses	476,154.36	363,262.05	231,649.54	1,071,065.95	0.00	0.00	0.00	0.00	3,244,006.64
Depreciation	152,820.07	140,589.47	149,131.68	442,541.22	0.00	0.00	0.00	0.00	819,375.92
Other expenses	383,899.58	791,499.83	-6,904,980.64	-5,729,581.23	0.00	0.00	0.00	0.00	-22,493,689.25
Net Income before provision for loan losses	2,462,265.75	3,649,244.82	10,846,339.81	16,957,850.38	0.00	0.00	0.00	0.00	53,346,819.23
Provision for loan losses	0.00	0.00	4,575,436.79	4,575,436.79	0.00	0.00	0.00	0.00	13,976,005.55
Net Income	2,462,265.75	3,649,244.82	6,270,903.02	12,382,413.59	0.00	0.00	0.00	0.00	39,370,813.68

* 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).