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LatinNews Daily - 29 November 2022
In brief: Loans and default rates on the rise in Brazil
*Brazil’s central bank (BCB) has released its latest report on credit and monetary statistics, which shows that outstanding loans in Brazil’s financial system were up 1.0% in October compared to September, reaching R$5.2trn (US$964bn). Outstanding loans to Brazilian families rose 1.8% while loans to companies decreased 0.4% last month. In the twelve months ending in October, the concession of credit to families increased 20.9% while credit to companies rose 13.5%. Overall default rates in the country’s financial system (percentage of operations overdue for more than 90 days) also increased to 3% in October, up from 2.9% in September.
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