At the same time, the bank continues to focus on the further development of its two main assets: customers and human capital. This strategy has proven successful during the past five years and the bank has consistently outperformed its peers in the domestic market. Based on a strategy of growth through increased share of wallet and selective customer acquisition, the bank remains market leader in business volume and profitability.
The bank also pioneered responsible business behaviour among its stakeholders to ensure the future sustainability of the business. It has introduced this model in its credit and client acceptance policies.
ABN AMRO Uruguay is continuing to update its IT platform to remain at the top of customer expectations. It has been undertaking ongoing product reviews to develop the kind of financial solutions that clients need, and an upgrade and enhancement of fast bank areas, mainly orientated towards retails customers. The aim of these moves is to differentiate the bank by developing closer and deeper customer relationships.
“During the past years, ABN AMRO has consolidated its leadership as the ‘first’ private bank in Uruguay, with a strong and solid participation – 20% of the market,” says chief executive Ricardo Rattazzi. “ABN AMRO has adopted a long-term view on its business approach rather than focusing exclusively on short-term results. This view led to consistency in the bank’s strategy even during the difficult times of the 2002 financial crisis, which was positively valued by our customers, as demonstrated by the leading market share that we achieved. In our view, this is the only sustainable way to improve shareholder value, backed up by the two main assets of the bank: customers and human capital.”
