Best Bank Uruguay: The Foreign Invasion

Best Bank Uruguay: The Foreign Invasion

This small nation – with just 3.3 million people and a current GDP of $31.6 billion, according to the IMF – is meanwhile becoming a more attractive to foreign banks.“Twelve months after the beginning of one of the deepest financial crises of current times, the Uruguayan banking system appears sound, liquid and profitable, without any significant consequence for economic and financial performance,” says Fernando Calloia, president of Banco República Oriental del Uruguay, the country’s biggest bank, which is state-owned and accounts for more than 40% of market share by assets.“Our bank - as well as the other 13 commercial banks that belong to international le

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