The total stock of credit operations reached R$6.3 trillion in November, representing an increase of 1.2% compared to the month of October, the Central Bank reported today (27). This result resulted from increases of 1.4% in credit to companies and 1.0% in credit to families, whose balances stood at R$2.4 trillion and R$3.9 trillion, respectively. 
In 12 months, there was a slight acceleration, with an increase of 10.7% in the 12 months to November, after growth of 10.6% in the 12 months to October.
According to the BC, credit to legal entities increased 9.3% in November, compared to 8.6% in the previous month, while the balance for individuals slowed from 11.8% until October to 11.6% until November.
Credit with targeted resources, which meet parameters established by the government, grew 1.1% in the month and 11.3% in 12 months, totaling R$2.7 trillion in November.
“By segment, credit directed to companies increased by 1.5% in the month and 9.3% in 12 months, reaching R$880.4 billion. In family operations, the stock reached R$1.8 trillion, with increases of 0.9% and 12.4%, in the month and in 12 months, in order”, said the BC.
In November, the stock of credit operations with free resources, freely negotiated between banks and borrowers, to individuals totaled R$ 2.1 trillion, an increase of 1.1% in relation to October and 11.0% in 12 months.
“This result was driven by the types of cash credit cards, vehicle purchases and non-payroll personal loans, which had respective increases of 2.0%, 1.5% and 1.2%”, informed the BC.
Free credit for legal entities grew 1.3% in the month and 9.3% in 12 months, reaching R$1.5 trillion. The BC reported that this performance was driven by the evolution of the discount portfolios of bills and other receivables, which increased by 7.1%, and working capital with a maturity of less than 365 days, which increased by 6.6%.
In total, the stock of free credit totaled R$3.7 trillion in November, an increase of 1.2% in the month and 10.3% compared to the same month last year.
Default
The default rate of the country’s total credit balance showed a slight reduction of 0.1 percentage point (pp) in November and 0.3 pp in 12 months. According to the BC, as a result, default, considering delays exceeding 90 days, reached 3.1% of the country’s total credit portfolio.
Last month, defaults on credit to companies and credit to families in the National Financial System (SFN) remained stable at 2.3% and 3.7%, respectively. Over the 12-month period, the reductions were 0.5 pp for companies and 0.1 pp for families.
Fees
The BC report points out that the average interest rate on concessions reached 28.6% per year (aa) in November, with a monthly increase of 0.5 pp in relation to October and a reduction of 0.5 pp in the period of 12 months.
For companies, the average interest rate increased by 0.4 pp in the month and 0.1 pp in 12 months, standing at 19.4% pa In operations aimed at families, the average rate increased by 0.5 pp in the month and reached 33.0% pa, with a decrease of 1.0 pp in 12 months.
The BC also said that the spread banking, the difference between the average interest rates charged in credit operations and the cost of funding, reached 18.6 pp in November, an increase of 0.2 pp in the month and a reduction of 1.4 pp compared to the same month from last year.
In relation to free credit, that freely negotiated between banks and borrowers, default fell by 0.1 pp in the month and 0.5 pp in 12 months, standing at 4.3% of the portfolio.
The default rate of the free portfolio intended for legal entities reached 2.8%, reductions of 0.1 pp in the month and 0.8 pp in 12 months, while in operations for individuals it remained stable in the month, with a decline of 0.4 pp compared to November 2023.
Balance
The BC said that in November, the balance of expanded credit to the non-financial sector reached R$18.2 trillion, with growth of 1.9% in the month, resulting from the 4.9% increase in external funding – reflecting the exchange rate depreciation of 4.8% in the period – 1.1% in loans and 1.2% in debt securities.
In 12 months, expanded credit grew 14.9%, with advances of 15.3% in debt securities, 10.4% in loans and 24.1% in external funding.
Expanded credit to companies totaled R$6.5 trillion in November, an increase of 2.6% in the month, highlighting the expansions of 1.8% in loans, 1.5% in debt securities and 4. 5% on external funding. In relation to November 2023, the 18.2% growth in the portfolio was mainly due to increases of 27.5% in debt securities and 22.0% in external debt components.
Extended credit to families reached R$4.2 trillion, with expansions of 1.1% in the month and 11.8% in 12 months, basically reflecting the performance of SFN loans.
