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Bank Industry Risk Analysis: Uruguay Feb 98 Product Image

Bank Industry Risk Analysis: Uruguay Feb 98

  • ID: 2028993
  • February 1998
  • Region: Uruguay
  • Standard & Poors

FEATURED COMPANIES

  • Banco Comercial S.A.
  • Banco do Brasil S.A
  • Bank Boston S.A.
  • MORE

Abstract
SOVEREIGN RATINGS Local currencyBBB+/Stable/A-2 Foreign currencyBBB-/ Stable/A-3 BASIC DATA (June 30, 1997) Number of banks 2 government-owned banks, 22 private commercial banks, 10 financial companies, 11 offshore banks, and 8 cooperatives System deposits Ur$74.7 billion (US$7.9 billion) Deposits per capita Approximately Ur$23,700 (US$2,500) Form of regulation Superintendency of Financial Institutions, a department of the Central Bank. Bank superintendent Enrique M. Goberna, Superintendent Banks in Uruguay continue to take advantage of a stable economic environment and a sound regulatory system. The financial system still attracts substantial amounts of offshore deposits mainly from Argentina and Brazil (thanks to the country's bank secrecy laws and favorable tax system). Fundamentals have been improving since the 1982 financial crisis, with banks generally showing adequate capitalization...

Companies mentioned in this report are:
- The Royal Bank of Scotland N.V.
- Republic National Bank of New York (Canada)
- Brazil (Federative Republic of)
- Argentina (Republic of) (Unsolicited Ratings)
- Uruguay (Oriental Republic of)
- Banco Comercial S.A.
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- The Royal Bank of Scotland N.V.
- Republic National Bank of New York (Canada)
- Brazil (Federative Republic of)
- Argentina (Republic of) (Unsolicited Ratings)
- Uruguay (Oriental Republic of)
- Banco Comercial S.A.
- Bank Boston S.A.
- Banco Santander Brasil S.A.
- Banco do Brasil S.A
- Citibank N.A. (Uruguay Branch)
- American Express Bank (Uruguay) S.A.
- Discount Bank Latin America S.A.

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