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.
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.
