Banco de la República Oriental del Uruguay (also known as Banco República or BROU) is a
state-owned
State ownership, also called government ownership and public ownership, is the ownership of an industry, asset, or enterprise by the state or a public body representing a community, as opposed to an individual or private party. Public owner ...
bank
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets.
Becau ...
in
Uruguay
Uruguay (; ), officially the Oriental Republic of Uruguay ( es, República Oriental del Uruguay), is a country in South America. It shares borders with Argentina to its west and southwest and Brazil to its north and northeast; while bordering ...
, founded in 1896 under the presidency of
Juan Idiarte Borda. It is the most important Uruguayan bank with the largest number of customers.
It plays a dominant role in
lending and
deposit in the Uruguayan
market. It is also responsible for the collection of
export taxes.
History
On October 22, 1896, at 10:00 a.m. the bank opened its doors for the first time with 54 employees. The first deposit was made by the
President of Uruguay
The president of Uruguay ( es, Presidente del Uruguay), officially known as the president of the Oriental Republic of Uruguay (), is the head of state and head of government of Uruguay. Their rights are determined in the Constitution of Urugu ...
,
Juan Idiarte Borda.
References
External links
Banco de la República Oriental del Uruguay
Economy of Uruguay
Government-owned companies of Uruguay
Banks of Uruguay
Banks established in 1896
1896 establishments in Uruguay
Companies based in Montevideo
Uruguayan brands
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