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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