Bank of the Year Uruguay

Bank of the Year Uruguay

Corporate & Sovereign Strategy Bonds

Uruguay’s economy is growing, but not quite as fast as before. According to IMF figures, GDP growth in Uruguay slowed to 3.3% in 2014, down from 4.4% in 2013. It expects the economy to grow at a slower rate of 2.8% in 2015.Across the Uruguayan banking sector, operating income rose by 3% in 2014 compared to 2013, but net income fell by 39% because of inflation, according to Fitch Ratings data.A dominant player in Uruguay’s banking sector, Banco de la República Oriental del Uruguay, or BROU, increased its share of the country’s consumer banking business, edging out its peers in a tough banking environment. The performance earned the state-owned bank the award for LatinFinance’s 2015 Bank of th

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