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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 {{bank-stub