The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.

Uruguay

Best bank
ABN Amro Best debt house
Citigroup

Once, Uruguay was known as the Switzerland of Latin America for the health of its banking system; that?s unlikely to be the case again. But one bank does stand out as a success story against a background of insolvent local banks and scared foreign banks which, during the crisis, seemed almost as prone to panic as their depositors.

ABN Amro developed a reputation as a safe place to put savings during the crisis. It is now clearly Uruguay?s leading bank, taking over the mantle once held by Banco Comercial, whose fraudulent accounting helped trigger the crisis in the first place. We now know, of course, that Banco Comercial was run by crooks; Uruguayans have learnt their lesson, and have decided to place their trust in the Dutch instead.

Citigroup masterminded the country?s full-scale debt restructuring in May 2003, issuing an international bond ? denominated in Uruguayan pesos ? and helping to ease the country back into the international capital markets.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree