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The financial system remains strong in Uruguay. Financial intermediation, the core business of the banking sector, is expanding without losing quality. The current situation provides a good starting point to face the pending challenges.
The Institute's reclassification of 116,000 loans to the past-due portfolio, as they were considered to be outstanding, increased delinquency to 14%. This is an accounting change rather than a growing impairment of credit.
Eight years after the start of the international financial crisis, the market has suddenly realised that the Italian banks still have tasks outstanding. Why have the markets focused on this problem now? What are the outstanding tasks? And, abov…
