Brazil's Credit Stock Hits R$6.97 Trillion as Rates Tick Up

Overview

• Total bank credit rose 0.9% in November to R$6.972 trillion, up 9.5% over 12 months.
• The average annual interest rate on overall credit increased 0.1 percentage point to 31.9%.
• The revolving credit card rate reached 440.5% a year, up from 439.8% in October.
• Overdraft charges averaged 141.7% a year in November, compared with 139.1% in the prior month.
• Balances in selected segments contracted, with household lines down 0.6% to R$358.2 billion and corporate lines down 2.2% to R$281.1 billion.