Final Results

    Bladex Reports Net Income of $21.1 Million for the Fourth Quarter of 2006
                and Net Income of $57.9 Million for Full Year 2006

                     Fourth Quarter 2006 Financial Highlights:
    * Operating income totaled $14.1 million, up 63% from the previous 
      quarter, due to gains in Treasury activities and increased net interest  
      income.    
    * Net income for the fourth quarter totaled $21.1 million, up 87% from the 
      third quarter, driven by a $5.4 million increase in operating income, 
      and a $5.6 million recovery on impaired assets.    
    * At December 31, 2006, the credit portfolio stood at $4.0 billion, 7%  
      higher than the figure reported as of September 30, 2006.
    * At December 31, 2006, the Bank had reduced its non-accruing assets to  
      zero, and had no past due loans in its portfolio.   
    * On February 13, 2007, the Bank's Board of Directors declared an increase  
      in the quarterly dividend from $0.1875 per share to $0.22 per share,  
      which will be payable on April 10, 2007, to shareholders of record as of 
      March 30, 2007. 

                  Full Year 2006 Financial Highlights:
    * Operating income was $39.3 million, up 36% from 2005, reflecting mostly  
      a 30% increase in net interest income, an 8% increase in fee income, and  
      higher gains in Treasury activities. 
    * Net income amounted to $57.9 million, down 28% from 2005, due to lower  
      credit provision reversals, as the Bank reduced its non-accruing  
      portfolio by year-end to zero.   
    * The average credit portfolio grew 20% year-over-year.  

    PANAMA CITY, Feb. 16 -- Banco Latinoamericano de Exportaciones, S.A. 
(NYSE: BLX) ("Bladex" or the "Bank") announced today its results for the 
fourth quarter ended December 31, 2006.  
    The table below depicts selected key financial figures and ratios for the 
periods indicated (the Bank's financial statements are prepared in accordance 
with U.S. GAAP, and all figures are stated in U.S. dollars):



                                    Key Financial Figures

    (US$ million, except percentages
     and per share amounts)           2005    2006    4Q05    3Q06     4Q06
      Net interest income            $45.3   $58.8   $12.5   $15.6    $16.7
      Operating income (1)           $28.9   $39.3    $9.0    $8.7    $14.1
      Net income                     $80.1   $57.9   $16.4   $11.2    $21.1
      EPS (2)                        $2.08   $1.56   $0.43   $0.31    $0.58
      Return on average equity       12.9%   10.0%   10.6%    7.9%    14.5%
      Tier 1 capital ratio           33.7%   24.4%   33.7%   27.3%    24.4%
      Net interest margin            1.70%   1.76%   1.77%   1.78%    1.76%
      Book value per 
       common share                $16.19  $16.07   $16.19  $15.55   $16.07
 
    (1) Operating income refers to net income excluding reversals of
        provisions for credit losses, recoveries (impairment) on assets, and 
        cumulative effect on prior years of changes in accounting principles.  
    (2) Earnings per share calculations are based on the average number of 
        shares outstanding during each period.


    Comments from the Chief Executive Officer
    Jaime Rivera, Bladex's Chief Executive Officer, stated the following 
regarding the quarter's results: 
    "The strong operating results for the fourth quarter bear evidence of our 
success at diversifying revenue sources across a stronger client franchise and 
a wider product range.  In summary terms, the quarter was driven by the 
Commercial Division sustaining the momentum of the third quarter, and the 
Treasury Division yielding its best quarterly results since its transformation 
into a revenue center.  Significantly, we believe that the improved operating 
results for the quarter reflect the benefits of our increasingly diversified 
revenue base.   
    "The fourth quarter was also significant in that the Bank reduced its non-
accruing portfolio to zero.  In addition, as of December 31, 2006, Bladex did 
not have a single cent past due on its balance sheet. 
    "As solid as the results for the fourth quarter were, I believe the year-
on-year comparison most clearly demonstrates the underlying strength of the 
Bank's business.  When compared to 2005, for instance, operating income rose 
by 36%.  These figures are particularly noteworthy given that our growth this 
quarter was strictly organic in nature.  Throughout, Bladex has maintained the 
stability of its portfolio indicators: 74% of the Bank's commercial portfolio 
remained trade finance in nature, with 71% due to mature within 12 months.  As 
I think back on the Bank's revenue trends over 2006, I view the 77% yearly 
growth in the Commercial Division's operating income, excluding the 
restructured portfolio in Argentina, as the most relevant validation of 
Bladex's client and product strategy.  
    "From an expense management perspective -- always a strength of Bladex -- 
we were pleased by the improvement of our efficiency ratio, which went from 
46% in 2005 to 42% in 2006, despite the increased spending levels that 
accompany a growing business.  
    "Not evident in the solid 2006 figures, but equally important for Bank's 
future, are a number of internal projects undertaken to improve efficiency and 
the quality of internal controls.  Chief among these was the installation of a 
state-of-the art technology platform, which allows Bladex the flexibility and 
speed of response needed to support the Bank's product and client plans for 
the coming years. 
    "Within a strong 2006, the one business line which trailed our 
expectations was digital identity, where the market for the service in Latin 
America is taking longer to mature than what we had anticipated.  While the 
expenses involved by the project were relatively small, amounting to less than 
3% of Bladex's budget for 2006, we concluded that the management time involved 
could be put to better use for development of other businesses with quicker 
returns.  As a result, we discontinued the project. 
    "As Bladex moves forward in 2007, management is focusing on improving the 
Bank's ROE levels.  We expect to be operating in a Region that will reflect 
the generally increased economic and political uncertainties and volatility 
that apply to much of the world.  Along with the continued expansion of the 
Bank's business scope, this environment plays to Bladex's strengths.  We are 
thus looking forward to continued progress and another solid year.  Our 
decision to raise the common quarterly dividend reflects this improved and 
improving profitability."

    SAFE HARBOR STATEMENT
    This press release contains forward-looking statements of expected future 
developments.  The Bank wishes to ensure that such statements are accompanied 
by meaningful cautionary statements pursuant to the safe harbor established by 
the Private Securities Litigation Reform Act of 1995.  The forward-looking 
statements in this press release refer to the growth of the credit portfolio, 
including the trade portfolio, the increase in the number of the Bank's 
corporate clients, the positive trend of lending spreads, the increase in 
activities engaged in by the Bank that are derived from the Bank's client 
base, anticipated operating income and return on equity in future periods, 
including income derived from the treasury function, the improvement in the 
financial and performance strength of the Bank and the progress the Bank is 
making.  These forward-looking statements reflect the expectations of the 
Bank's management and are based on currently available data; however, actual 
experience with respect to these factors is subject to future events and 
uncertainties, which could materially impact the Bank's expectations.  Among 
the factors that can cause actual performance and results to differ materially 
are as follows: the anticipated growth of the Bank's credit portfolio; the 
continuation of the Bank's preferred creditor status; the impact of increasing 
interest rates and of improving macroeconomic environment in the Region on the 
Bank's financial condition; the execution of the Bank's strategies and 
initiatives, including its revenue diversification strategy; the adequacy of 
the Bank's allowance for credit losses; the need for additional provisions for 
credit losses; the Bank's ability to achieve future growth, to reduce its 
liquidity levels and increase its leverage; the Bank's ability to maintain its 
investment-grade credit ratings; the availability and mix of future sources of 
funding for the Bank's lending operations; potential trading losses; the 
possibility of fraud; and the adequacy of the Bank's sources of liquidity to 
replace large deposit withdrawals.   

    About Bladex
    Bladex is a supranational bank originally established by the Central Banks 
of Latin American and Caribbean countries to support trade finance in the 
Region.  Based in Panama, its shareholders include central banks and state-
owned entities in 23 countries in the Region, as well as Latin American and 
international commercial banks, along with institutional and retail investors.  
Through December 31, 2006, Bladex had disbursed accumulated credits of over 
$144 billion.
    Bladex is listed on the New York Stock Exchange. Further investor 
information can be found at http://www.blx.com.  A longer version of this 
press release with detailed information will be filed with the United States 
Securities and Exchange Commission, and can be obtained from Bladex at:

    Bladex, Head Office, Calle 50 y Aquilino de la Guardia, 
    Panama City, Panama
    Attention: Mr. Carlos Yap, Chief Financial Officer
    Tel. No. [phone], e-mail: [e-mail],
    -or-
    Investor Relations Firm
    i-advize Corporate Communications, Inc.
    Mrs. Melanie Carpenter / Mr. Peter Majeski
    Tel: [phone], e-mail: [e-mail] 

    Conference Call Information
    There will be a conference call to discuss the Bank's quarterly results on 
Friday, February 16, 2007, at 11:00 a.m., New York City time.  For those 
interested in participating, please dial [phone] in the United States 
or, if outside the United States, [phone].  Participants should use 
conference ID# 8403785, and dial in five minutes before the call is set to 
begin.  There will also be a live audio webcast of the conference at 
http://www.blx.com.

SOURCE  Banco Latinoamericano de Exportaciones, S.A. 
    -0-                             02/16/2007
    /CONTACT: Carlos Yap, Chief Financial Officer, BLADEX, +011-507-210-8563, 
or e-mail, [e-mail], or Melanie Carpenter or Peter Majeski, both of
i-advize Corporate Communications, Inc., [phone], or bladex@i-
advize.com, for Bladex/
    /Web site:  http://www.blx.com /
    (BLX)




END