New bank loans in Brazil surge in September
It is the fourth increase in a row, supported by the central bank’s monetary stimulus
Amid the recovery of some key economic sectors in Brazil, the new bank loans grew by 7.9% y/y to BRL 367bn in September. It is the fourth increase in a row, supported by the central bank’s monetary stimulus to cushion the negative COVID-19 impact.
New loans for non-financial companies jumped by 12.4% y/y in September, reflecting higher amount of working capital loans and export financing. In addition, new loans for households inched up by 3.9% y/y in September, supported by consumer loans and housing purchase financing.
Further data and analysis on Brazil’s economy could be found on the CEIC Brazil Economy in a Snapshot – Q3 2020 report.