Bank of the Year, Uruguay: Banco de la República Oriental del Uruguay
Dominating Uruguay’s banking system, Banco de la República has outperformed the market in terms of profitability, but it faces many of the same difficulties as its competitors
Business has been good for banks in Uruguay, which means
times have been good for Banco de la República Oriental
del Uruguay. The government backed-lender’s role
in the banking sector remains strong, accounting for some 40%
of the market. There is ample room for private banks to
compete, but they have yet to reach the scale and profitability
of Banco de la República. The competitive landscape has
remained largely stable over the past year. Banco de la
República had $13.5 billion in assets as of June 30, and
accounted for 43% of the domestic loan market and 44% of...
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