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As of the end of March 2024 banking clients in Uruguay reached 3,5 million, with non-residents accounting for 62541 and residents making up the remaining 3.4 million.
The total volume of deposits stood at 1592 billion Uruguayan Pesos. Of this amount, non-residents held 127.4 billion, representing 8% of the total deposits. Residents contributed 1464 billion in deposits.
The distribution of deposits by term showed a significant concentration in short-term deposits, with 81.7% of the total deposits placed for 0-30 days. Deposits for 31-365 days amounted to 10,4%, while those for 366 days and beyond were at 7,9%.
Regarding the currency composition, foreign currency deposits accounted for 70.9% of the total, while deposits in the national currency made up 29.1%.
Analyzing market shares in terms of total deposit volumes, Banco de la República Oriental del Uruguay held the largest share at 41.4%. Banco Santander Uruguay followed with 17.7%, Banco Itaú Uruguay at 15.1%, BBVA Uruguay at 8.8%, and Scotiabank Uruguay at 7.8%. The remaining banks collectively held 9.2% of the market share.
The total volume of deposits stood at 1592 billion Uruguayan Pesos. Of this amount, non-residents held 127.4 billion, representing 8% of the total deposits. Residents contributed 1464 billion in deposits.
The distribution of deposits by term showed a significant concentration in short-term deposits, with 81.7% of the total deposits placed for 0-30 days. Deposits for 31-365 days amounted to 10,4%, while those for 366 days and beyond were at 7,9%.
Regarding the currency composition, foreign currency deposits accounted for 70.9% of the total, while deposits in the national currency made up 29.1%.
Analyzing market shares in terms of total deposit volumes, Banco de la República Oriental del Uruguay held the largest share at 41.4%. Banco Santander Uruguay followed with 17.7%, Banco Itaú Uruguay at 15.1%, BBVA Uruguay at 8.8%, and Scotiabank Uruguay at 7.8%. The remaining banks collectively held 9.2% of the market share.
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In terms of market share growth, Banco Santander Uruguay led with an increase of 0.81 market share percentage points. Citibank N.A. Sucursal Uruguay gained 0.33 points, HSBC Uruguay saw a rise of 0.13 points, Banco de la Nación Argentina grew by 0.05 points, and Banco Hipotecario del Uruguay also increased by 0.05 points.
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