Rio de Janeiro – Loans granted by the Brazilian Development Bank (BNDES) totaled BRL 33.5 billion (USD 10.73 billion) in H1, down 16.6% over the same period of last year. The data was made public this Tuesday (18) by Marcelo Porteiro, the bank’s Indirect Operations Superintendent, and by Flávio Giambiagi, the bank’s Research and Planning superintendent.
According to Porteiro, “with the crisis the banks shrank and sought higher credit ratings and guarantees.”
Despite the decline in the numbers of the first six months, June’s results already show improvement, according to Giambiagi. “In the inquiries for new loans, we had, in June, an increase against June 2016, after months operating below [year-over-year],” he compared.
*Translated by Sérgio Kakitani