The president of BROU points to an expansive role for the credit market

The president of BROU points to an expansive role for the credit market
December 10, 2023 – 21:01

Salvador Ferrer highlighted that the bank has a “very solid” situation from a financial point of view, so it has the capacity and liquidity to move forward in that direction.

Photo: Presidency

He president of the Bank of the Eastern Republic of Uruguay (BROU), Salvador Ferrerassured that the banking institution is aiming for an expansive role in the banking market. creditsince it has the financial backing for it.

In an interview with radio Sarandí last Friday, the banking leader explained that BROU currently has a “very solid” situation from a capital point of view, as well as liquidity and generation of results.

According to Ferrerthe bank has a balance sheet of more than 22 billion dollars, of which about 2 billion (dollars) are BROU assets, and the remaining 20 billion (dollars) belong to deposits.

Likewise, the bank pointed out that “the portfolio of credits is in the order of 7,000 million dollars”, so “there is capacity to continue having that expansive role that we are trying to have in the different financing sectors.” “There is an opportunity for the development of credit very important, and that is where we are focused.

Ferrer He assured that, today, the levels of bad debts in the bank “are very reasonable” despite the pandemic and the drought. “The delinquency rates of the Uruguayan banking system, not only of BROU, are good in international comparison.”

“We focus on trying to be more competitive for companies”

“We have focused a lot on trying to be more competitive for companies, lowering interest rates to the extent we can in recent times of increases in international rates, trying to temper these rate increases by extending financing terms” and “seeking to make financing more accessible for SMEs,” highlighted the Ferrer.

Regarding this, he highlighted that the competition “is very aggressive” in Uruguaysince the market credit “It has always been very liquid” and in addition “the competition, due to the generation of active business (loans), is very relevant and we have very important players,” he pointed out in this regard.

Source: Ambito

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