Latin Finance - November/December 2011 - 51
2011
While government-owned Banco de la Republica Oriental del Uruguay (BROU) dominates the country’s banking landscape, among its private sector, the Spanish bank still remains in top spot after having absorbed ABN Amro in 2008. Indeed, in terms of market share it is now clearly ahead, controlling 17.8% of the country’s deposit bank and 14.9% of loans as of December last year, according to Moody’s. Its asset base also hit $4.46 billion, putting it second to the $102.77 billion seen on BROU’s balance sheet. Its closest competitor among private sector banks on this front is Banco Itaú, which had an asset base of less than half the size, and deposit and loan shares of 9.4% and 7.3%, respectively. Among non-state institutions, it has one of the highest return on assets, though net interest margins lag Banco Itaú, according to Moody’s. “It has been a year and half that they have really gained a bit of market share, and they [now] have a good position
less in international securities and Leading private sector banks focusing more on Market Share domestic lending. Total Assets Santander has (US$m) Loans (%) Deposits (%) used its purchase of BROU 10,277 36.7 47.4 ABN Amro well to Santander 4,462 14.9 17.8 become the number one private sector Hipotecario de Uruguay 1,411 14.7 3.9 player in the country, Itaú 1,969 7.3 9.4 but competition is Lloyds 353 1.1 1.6 increasing as foreign bankers make similar Brandes 166 0.9 0.3 moves. Banco de La Nación 96 0.1 0.3 Earlier this year, Source: Moody’s Spanish competitor BBVA Uruguay bought the subsidiary of Credit Agricole, in the local markets,” Maria Valeria converting it into the second largest private Azconegui, a banking analyst at Moody’s, bank, while Scotiabank acquired Nuevo says about Santander Uruguay. Banco Commercial (NBC) to take the fourth This has taken place in what has spot. Banco do Brasil is also looking to set been a benign operating environment up shop in the country. characterized by strong GDP growth and Higher interests has helped banks, but rising levels of consumption. According competition in the corporate and consumer to Moody’s, this has left banks investing
Uruguay – Market Share
November/December 2011
LatinFinance 51
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Latin Finance - November/December 2011
Table of Contents for the Digital Edition of Latin Finance - November/December 2011
Latin Finance - November/December 2011
Contents
Contagion Risk
Mexican Credit
China Investment
Loan Markets
Mexico Banks
Sub-Sovereign Debt
Banks of the Year 2011
Argentina Investor Report
Reversal of Fortunes
Latin Finance - November/December 2011 - Latin Finance - November/December 2011
Latin Finance - November/December 2011 - Cover2
Latin Finance - November/December 2011 - Contents
Latin Finance - November/December 2011 - 2
Latin Finance - November/December 2011 - 3
Latin Finance - November/December 2011 - 4
Latin Finance - November/December 2011 - 5
Latin Finance - November/December 2011 - 6
Latin Finance - November/December 2011 - 7
Latin Finance - November/December 2011 - 8
Latin Finance - November/December 2011 - 9
Latin Finance - November/December 2011 - 10
Latin Finance - November/December 2011 - 11
Latin Finance - November/December 2011 - Contagion Risk
Latin Finance - November/December 2011 - 13
Latin Finance - November/December 2011 - 14
Latin Finance - November/December 2011 - 15
Latin Finance - November/December 2011 - 16
Latin Finance - November/December 2011 - 17
Latin Finance - November/December 2011 - 18
Latin Finance - November/December 2011 - 19
Latin Finance - November/December 2011 - 20
Latin Finance - November/December 2011 - 21
Latin Finance - November/December 2011 - Mexican Credit
Latin Finance - November/December 2011 - 23
Latin Finance - November/December 2011 - 24
Latin Finance - November/December 2011 - 25
Latin Finance - November/December 2011 - China Investment
Latin Finance - November/December 2011 - 27
Latin Finance - November/December 2011 - 28
Latin Finance - November/December 2011 - 29
Latin Finance - November/December 2011 - Loan Markets
Latin Finance - November/December 2011 - 31
Latin Finance - November/December 2011 - 32
Latin Finance - November/December 2011 - 33
Latin Finance - November/December 2011 - Mexico Banks
Latin Finance - November/December 2011 - 35
Latin Finance - November/December 2011 - Sub-Sovereign Debt
Latin Finance - November/December 2011 - 37
Latin Finance - November/December 2011 - Banks of the Year 2011
Latin Finance - November/December 2011 - 39
Latin Finance - November/December 2011 - 40
Latin Finance - November/December 2011 - 41
Latin Finance - November/December 2011 - 42
Latin Finance - November/December 2011 - 43
Latin Finance - November/December 2011 - 44
Latin Finance - November/December 2011 - 45
Latin Finance - November/December 2011 - 46
Latin Finance - November/December 2011 - 47
Latin Finance - November/December 2011 - 48
Latin Finance - November/December 2011 - 49
Latin Finance - November/December 2011 - 50
Latin Finance - November/December 2011 - 51
Latin Finance - November/December 2011 - 52
Latin Finance - November/December 2011 - 53
Latin Finance - November/December 2011 - 54
Latin Finance - November/December 2011 - 55
Latin Finance - November/December 2011 - 56
Latin Finance - November/December 2011 - 57
Latin Finance - November/December 2011 - 58
Latin Finance - November/December 2011 - 59
Latin Finance - November/December 2011 - 60
Latin Finance - November/December 2011 - Argentina Investor Report
Latin Finance - November/December 2011 - 62
Latin Finance - November/December 2011 - 63
Latin Finance - November/December 2011 - Reversal of Fortunes
Latin Finance - November/December 2011 - Cover3
Latin Finance - November/December 2011 - Cover4
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