Salvador Ferrer points out the BROU’s capacity and liquidity to lead credit growth

2023-12-13 00:47:01

Salvador Ferrer, president of BROU

The president of Bank of the Eastern Republic of Uruguay (BROU)Salvador Ferrer, highlights the solid financial position of the institution and its ability to lead significant growth in the credit market.

In a recent interview with radio Sarandí, Salvador Ferrer shared BROU’s vision of playing a broader role in the credit market. He highlighted the bank’s robust assets, indicating that it currently exceeds $22 billion in balance.

President Ferrer explained that of this balance, around 2,000 million dollars constitute the BROU’s assets, while the remaining 20,000 million dollars correspond to deposits. This solid financial situation, combined with liquidity and the ability to generate results, positions BROU to advance its ambitious credit expansion plan.

With a credit portfolio of around $7 billion, Ferrer highlights BROU’s ability to maintain its expansive role in various financing sectors. He emphasizes that there is a significant credit development opportunity and that the institution is firmly focused on taking advantage of it.

The BROU and its resilience in difficult times of high competitiveness

Despite the challenges posed by the pandemic and the drought, Ferrer assures that the levels of delinquencies in the BROU and in the Uruguayan banking system in general are “very reasonable” in international comparison. He points out the bank’s focus on competitiveness, highlighting the aggressiveness of the Uruguayan credit market and the importance of being competitive to meet the needs of companies.

Ferrer explains the measures taken to strengthen the competitiveness of the BROU, including the reduction of interest rates, the extension of financing terms and the effort to make financing more accessible for small and medium-sized businesses (SMEs). He emphasizes that these actions are crucial in a market where competition is intense and the players are significant.

Under the leadership of Salvador Ferrer, BROU is projected as a key player in the Uruguayan credit scenario. With a solid financial foundation, strategic capacity and focus on competitiveness, the institution is positioned to play a vital role in boosting the credit market, contributing to the economic development of the country.