Big five banks lend R$265.6bn in 30 days

The five largest banks in Brazil – Itaú Unibanco, Bradesco, Santander, Banco do Brasil and Caixa Econômica Federal – have lent R$265.6 billion between March 16 and April 17, the first month of the pandemic, according to the Brazilian Bank Federation (Febraban). The data includes new loans and financing, along with contract renewals and postponed installments. The total is nearly 22% higher than March 2019, but the trade group says the comparison is not possible. Febraban chief Isaac Sidney Ferreira says the numbers show liquidity is not pooling up in banks. However, there are still reports of smaller companies and some economic sectors finding it difficult to borrow. Central Bank President Roberto Campos Neto said on Monday that the government is working to make credit reach those companies.

Source: Valor Econômico