BANCO COMERCIAL
Phone Number
1991
website
http://www.nbc.com.uy
about this company
This financial company, which is governed by the Private Commercial Law, was created by the Uruguayan state on the pillars of: liquidity, solvency and viability.
Operations began Nuevo Banco Comercial with a clear focus for its first year of activity: firstly to revive and restructure the portfolio as much as possible and would be viable only if it came to a critical mass of assets that make it sustainable the medium and long term, on the other hand, face the task of beginning to restore the confidence of the unit shares, former depositors of liquidated banks that originated them, trying to turn them into customers of the new institution.
With a functional structure specially adapted for these purposes was an impressive work that enabled successfully meet these goals and complete and the first year (9 months) with a major utility: USD 8 million.
At the end of 2004 the values were:
· Activate MM U $ S 958.3
· Liabilities MM U $ S 789.9
MM heritage · U $ S 168.4
In 2005, consolidated the presence as a universal bank, serving all segments and all products. Milestones were achieved as being the issuer and processor of Mastercard, American Express be selected as the only bank authorized to issue its plastics in the country in addition to handling all the business of acquiring, he card processing services for third parties (various portfolio in Brazil), was restructured and relaunched the operation of the subsidiary in Brazil (Banco Comercial Uruguai, today NBC Bank Brasil, with branches in Porto Alegre, Caxias and Londrina).
Commissions increased 28% and contributed significantly to the result of the year, which was $ 19 million. Total deposits grew by 81 million, even after paying nearly $ 100 million in annual amortization of the CD's.
In parallel, the other objective is also achieved sales, the pre-selection of candidates ends and received non-binding offers from various groups in June. They are selected and enter negotiations who successfully complete the 6 September when signing the sale of 60% of the shares (total common stock) plus an option for the remaining 40% (preferred stock owned by the Uruguayan State ). The total transaction price amounts to USD 170 million, the buyer consortium comprising Advent, FMO, DEG and Morgan Stanley.
Finally in early June, formally approved the transaction and the investment group taking full control of the operation. Keeping most of the local management, some managers are incorporated to reinforce key areas (systems, human resources, controller) and adjust the strategy.
The purchase of the shares of Nuevo Banco Comercial SA, by the consortium of investors is integrated in the following proportions:
Advent International - 56%
Morgan Stanley Strategic Investment - 24%
German Investment and Development - DEG - 10%
Netherlands Development Finance Company - FMO - 10%
We worked with a business plan and a budget agreed between the outgoing and buyers.
This ambitious plan includes demanding targets of profitability and growth, seeking to achieve the aim of positioning the bank as head of private banking as the bank of choice for families and businesses.
The focus on the client and not the product, management by objectives, quality of service, people and SME segments, improved corporate governance are some of the main lines of action.
Again closed the year (2006) the activity room, with a score $ 13 million (the largest private bank), with a market share of 16% in deposits and loans by 19% in the sector Non-Financial Sector private. The Heritage at year end was $ 189 million.
The Bank was recognized by several international publications as the best bank in Uruguay in 2006.
New Commercial Bank has quickly established as the leading national private bank in the country, participating in domestic and regional market both people and companies through loans, credit cards, and supporting agribusiness companies, all sizes, in their businesses at home and abroad.
During the year ended December 31, 2007, Nuevo Banco Comercial established himself as one of the leading private banks in the Uruguayan financial system, with a profit of $ 9.2 million, the highest net worth in the private financial sector and second largest portfolio of outstanding loans to non financial, with a market share of 11.2%. It is also the best private bank liquidity and solvency indicators with 2.7 times the minimum equity required by the Central Bank of Uruguay.
We performed the opening of two branches: The Three Corners Branch, designed to cater to the segment of small and medium enterprises, and Meadow Branch, specializing in the retail segment.
The prestigious magazine Euromoney nominated for Best Commercial Bank Bank of Uruguay in 2007.
The year 2008 was not a simple exercise from the point of view of international market trends. The world was faced with perhaps the most important crisis this generation has had to live. In this context the excellent financial results achieved by the bank are particularly relevant as a result of an appropriate strategy and consistently implemented, which recognizes the risk management and risk culture at the organizational level one of its pillars.
The accounting profit accrued to December 2008 was 22.MM, the largest in the country's private financial system, which together with the benefits of prior years totaled USD 82.6 MM.
Center and Union branches began opening its doors from 10 to 18 hours, adding to the branches of Shopping Tres Cruces and Punta Carretas Shopping allowing ample time to provide care to clients.
He created the Center for Real Estate Loans, a specialized unit of care for individuals or families wishing to receive a dedicated and professional care, extended hours from 9 to 19 hours.
One year the prestigious Euromoney has distinguished us as the best bank in the country 2008 ("Best Bank in Uruguay"), a recognition grateful.
2009 was a difficult year for banks, which began with great uncertainty due to the impact they might have of the crisis in international markets. Locally, although the crisis did not impact to a large extent, resulted in a decrease in the volume of activity was only recovered in the second half.
That year they made heavy investments, which had an impact although accountant, left the bank well positioned to ensure its leadership position in the sectors we have defined as strategic (consumer, business and SMEs) and that will sustain the aggressive commercial growth proposed.
The decline in international interest rates and exchange rate appreciation, coupled with heavy investments, while not affecting the bank's capital strength, had their impact on earnings.
The bank was recognized for the 3rd consecutive time by the publication Euromoney Best Bank in Uruguay 2009.
Other milestones achieved during 2009 include the full payment of the certificates of deposit issued in 2003 and, after having made payments of USD 534 million, closing a major step forward. This is compounded payments, amounting to USD 145 million, we have made to our public shareholders, the Ministry of Economy and Finance and FRPB of deposits held in our bank. All this in an efficient financial management scheme that allowed us to maintain adequate liquidity ratios.
Following is the composition of equity capital to date:
Ordinary shareholders 60% of total paid-in capital
ü Advent International * - 54.92%
Morgan Stanley Strategic Investment ü * - 23.18%
SDR ü * - 9.95%
ü Tecevall SA * - 2.00%
FMO ü ** - 9.95%
(*) Via - NBC Invest S.à R.L
(**) By - New Commercial Bank Holding B.V.
Preferred Shareholders 40% of the total paid-in capital
Ministry of Economy and Finance, Uruguay 40%
Finally, during the month of December, implemented a retirement plan to which more than 100 officers joined and that meant a financial outlay of USD 25 million.
The successful implementation of this plan ensures sustainability over the medium term bank by giving it greater operational efficiency, provides better opportunities for personal career while still enabling the entry of young professionals who constitute the managerial cadres of the future.
Currently the bank has a network of 50 offices nationwide and over 80 ATM's Banred, a contact center and self service 24 x7 in all branch lobbies. 
