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Bank Industry Risk Analysis: Uruguay Feb 98
Standard & Poors, Feb 1998
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.,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.
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
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