The stock of all loans made by financial institutions in Brazil reached R$ 4.711 trillion in February, up 0.8% from January and 16.6% in 12 months. The data were released today (28), in Brasília, by the Central Bank (BC).
This credit balance corresponded to 53.3% of everything the country produces – the Gross Domestic Product (GDP) – a stable result compared to January this year and February 2021.
The balance of credit to companies increased 1% in relation to January and 10.3% in relation to the same period of the previous year, totaling R$ 1.952 trillion. In the case of families, the stock of credit totaled R$ 2.759 trillion, with increases of 0.7% and 21.4% on the same basis of comparison.
The average interest rate for individuals was 48.1% per year, in the month, with an increase of 1.8 percentage points in relation to January. In the year, the increase reached 3.1 percentage points and, in 12 months, 8 percentage points.
In the case of companies, the increase from one month to the next was only 0.1 pp (percentage point), but in the year it reached 1.1 pp and, in 12 months, 7.7 percentage points. Interest charged to companies was 21.5% per year in February.
Among the modalities for individuals, the revolving credit card has the highest rate: 355.2% per year. There was an increase of 8.9 percentage points, in February, and of 28.2 percentage points, in 12 months.
The revolving credit is the credit taken by the consumer when he pays less than the full amount of the card bill. Revolving credit lasts 30 days. After this period, financial institutions pay the debt in installments.
In the installment payment method for purchases by credit card, interest reached 174.3% per year in February, with an increase of 1.8 pp in the month. This average rate includes purchases in installments, credit card invoice installments or revolving payments and installments.
The overdraft interest rate reached 132.6% per year, with an increase of 6.9 percentage points in the month and 7.1 percentage points in 12 months.
The interest rate on non-consigned personal credit rose to 83.4% per year in February, with an increase of 3.6 percentage points in relation to January and a decrease of 1.1 pp in 12 months.
The payroll loan rate (with payroll deduction) dropped 0.2 pp, going to 22.9% per year in February. In 12 months, it rose 4.1 percentage points.
Credit defaults, considering delays of more than 90 days, for individuals, rose 0.1 pp, reaching 4.7%. For corporations, delinquency fell by 0.1 pp to 1.5%.
All these data on interest rates and default are from free credit, in which banks have the autonomy to lend money raised in the market and set the interest rates charged to customers.
In the case of earmarked credit (loans with rules defined by the government, intended basically for the housing, rural, infrastructure and microcredit sectors), interest rates for individuals fell 0.8 pp to 8.5% per year. The fee charged to companies rose 0.2 pp to 10.7% per year in the month.
The strike by Central Bank employees this month delayed the release of reports, such as today’s credit statistics. With the suspension of the strike, announced on the 19th, the dissemination of statistics is gradually being normalized.