Brazil's Lending Rises Moderately in March

2025-04-30 16:53 By Isabela Couto 1 min. read

The value of outstanding loans in Brazil rose by 0.6% over a month to R$ 6.5 trillion in March 2025, extending the 0.4% increase in the prior month.

It marked 15 consecutive months without contractions in the outstanding credit stock, underscoring some resilience in loan demand to the aggressive rate hikes by the Central Bank of Brazil.

The latest increase was driven by advances in credit to both companies (0.5%) and households (0.7%).

The annual growth rate decreased to 9.9%, from 11% in February.

Compared to March 2024, credit growth decreased for companies (7.4% vs 9.9%) and households (11.5% vs 11.7%).



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Brazil Loan Stock Rises in March
Brazil's total outstanding loan stock rose 0.9% month-on-month in March 2026, reaching R$7.2 trillion. Total credit to companies and families grew 1.1% and 0.8% respectively, reaching R$2.7 trillion and R$4.5 trillion. Credit with free resources totaled R$4.1 trillion, up 1.1%. For legal entities, free resource credit hit R$1.6 trillion, driven by seasonal increases in discounting bills (8.5%), working capital under 365 days (9.1%), and sight credit cards (14.6%). Credit to individuals with free resources totaled R$2.5 trillion, up 1.1%, supported by sight credit cards (2.2%), private sector payroll credit (10.1%), and vehicle financing (0.8%). Directed credit grew 0.7% to R$3.1 trillion, with increases of 1.2% for companies and 0.5% for families. Year-on-year, credit to legal entities rose 7.6% and credit to individuals climbed 10.9%.
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Brazil's Loan Stock Rises in February
Brazil's total outstanding loan stock rose 0.4% month-over-month to R$7.1 trillion in February 2026, with household credit up 0.6% and business credit stable at respective balances of R$4.5 trillion and R$2.7 trillion. Free resources credit grew 0.1% monthly and 7.7% over 12 months, totaling R$4.1 trillion. Free credit to businesses fell 0.3% monthly but rose 0.9% annually, reaching R$1.6 trillion. Free credit to households grew 0.3% monthly and 12.6% annually, hitting R$2.5 trillion. Directed credit stock reached R$3.1 trillion, rising 0.8% monthly and 12.2% over 12 months. Directed credit to businesses climbed 0.6% monthly and 17.7% annually to R$1.1 trillion. Directed credit to households rose 0.9% monthly and 9.5% annually, reaching R$2.0 trillion. Over 12 months, credit growth slowed to 9.6% from 10.1% through January.
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Brazil's Credit Stock Contracts in January
Brazil's total outstanding loan stock declined 0.2% month-on-month to R$7.1 trillion in January 2026, reversing the prior month's 1.8% gain. The decrease was driven by a 1.7% contraction in corporate credit, which offset a 0.7% expansion in household credit to R$2.7 trillion and R$4.5 trillion, respectively. Year-over-year growth decelerated to 10.1% in January from 10.3% in December 2025.
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