November 7, 2017 |
Banco de la República Oriental del Uruguay (BROU) continues to demonstrate its dominance as the country’s largest financial institution.
The state-owned bank holds the largest market share in terms of loans and deposits and is the leader in local currency lending. While BROU’s profit slipped in 2016 versus the previous year, it has rebounded, earning $128 million in the first nine months of 2017, according to its president, Jorge Polgar.
The bank also incorporated some 200,000 new clients in the 12 month period through June 30, he says. “That clearly shows our leadership in terms of providing financial services in Uruguay,” Polgar says.
BROU had assets of $16.4 billion and equity of $1.38
Uruguay’s largest bank asserts its dominance by focusing on local currency personal loans