From the Newsroom*
São Paulo – The Brazilian Development Bank (BNDES) announced today (12) that its loans reached R$ 42 billion (almost US$ 20 billion) from January to November this year, an increase of 5% when compared to the same period in 2005. In the period, credits of R$ 61.3 billion were approved, 23% more than in the first 11 months of last year.
In November alone, loans made totalled R$ 6.7 billion, presenting growth of 12% when compared to the same period last year. The credits approved totalled R$ 7.7 billion, an increase of 47% when compared to November 2005. The increase in approvals of loans, according to the Bank, shows a tendency of further expansion in months to come.
*Translated by Mark Ament
