Best bank 2025: Banco Itaú Uruguay S.A
Banco Itaú Uruguay has firmly established itself as the leading Bank in Uruguay due to its impressive growth across all business lines, including a 23% increase in loans and 21% growth in deposits. It led the market in revenue, profitability and efficiency, with an impressively low efficiency ratio of 40%.
Furthermore, customer satisfaction increased, with net promoter scores rising across all segments – retail, corporate and small and medium-sized enterprises – underscoring Itaú’s commitment to a customer-centric culture. The bank’s digital transformation was equally impressive, launching Apple Pay and Toke, and achieving 88% digital customer penetration.
Itaú’s environmental, social and governance leadership was evident through its net zero programme, sustainable finance initiatives totalling $149 million, and its pioneering role in Uruguay’s first social impact bond. The bank also expanded its impact through Fundación Itaú, supporting over 50 educational and cultural projects.
Internally, Itaú has fostered a culture of inclusion and wellbeing, with 30% of employees participating in wellness programmes and notable gains in gender diversity. Its innovative CX Day and leadership development initiatives further strengthened its organisational culture.
With strategic fintech acquisitions like Resonet, Handy and Plexo, and the launch of Itaú Asset Management and Cubo Uruguay, the bank is building its presence in Uruguay. Its blend of financial strength, innovation and social responsibility makes Banco Itaú Uruguay the country’s best bank.
Best bank for large corporates 2025: Santander
Santander Uruguay continues to solidify its position as the leading institution for large corporates in Uruguay, consistently demonstrating its strength through tailored financial solutions and strategic innovation. In recent years, the bank has enhanced its corporate lending portfolio, showcasing a robust growth of 20% in the corporate segment, which significantly outpaces the industry average. This achievement is testament to the bank’s deep understanding of corporate needs and a proactive approach in offering bespoke products.
In Uruguay, Santander leads the market in transactional solutions, serving over 500,000 active customers through 45 branches. The bank’s global relationship team ensures end-to-end product oversight, supported by cash management experts and a dedicated pan-Latin America onboarding team. This structure provides a seamless and centralised customer experience. Santander Uruguay delivers a comprehensive suite of products tailored to corporate needs, with secure digital access to its international network and regional support from offices in Argentina, Brazil, Chile, Colombia, Mexico, and Peru.
Finally, Santander’s Cash Nexus platform enhances treasury operations by centralising payments, optimising liquidity and enabling full visibility of cash positions. It supports STP, Swift integration, and enterprise resource planning system connectivity, ensuring operational efficiency. Additionally, Santander’s new digital banking platform further enhances user experience with application programming interface integration, mobile access and streamlined onboarding.
Over the review period, Santander has proved itself to be the go-to partner for corporates seeking agile, secure and innovative financial solutions in Uruguay.
