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ABN Amro


ABN Amro is easily the best bank in Uruguay. It didn't make quite as much money in 2004 as it did during the banner flight-to-quality year of 2002, when Uruguay's banking system was in crisis, but it is still much better than anybody else. It made $20 million on assets of $1.2 billion in 2004, and holds a 27.5% share of deposits in the country.

ABN was also involved in Uruguay's series of debt deals over the past year. But Uruguay's banker of choice is undoubtedly Citigroup, which has been involved in every capital markets transaction the country has done since its debt exchange.

Citi has led the way in selling paper denominated in Uruguayan pesos to foreign investors – a trend that was later picked up by Colombia.

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