Brasília – Credit operations in Brazil amounted to R$ 2.926 trillion (US$ 1.151 trillion) in October, up 0.8% from September and 12.2% in the 12-month period ended October, according to data released this Wednesday (26th) by the Brazilian Central Bank. Total operations were equivalent to 57.3% of the Gross Domestic Product (GDP) in October, 57.2% in August and 54.7% in October 2013.
The monthly and annual variations reflects an increase in natural and legal persons’ portfolios, which amounted to respectively R$ 1,377.2 trillion (US$ 541.8 billion) and R$ 1.549 trillion (US$ 609.3 billion) in October. Operations involving natural persons were up 1.3% from September and up 13.4% in the 12-month period ended October. Operations involving legal persons were up 0.4% month-on-month and 11.1% in 12 months.
Average interest rates on general purpose loans were 44% per annum to natural persons and 23.4% to businesses. Insolvency on general purpose loans was 4.8%.
*Translated by Gabriel Pomerancblum
