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.

Brazil’s total stock of outstanding loans rose 1.8% month-on-month to R$7.1 trillion in December 2025, following a 0.9% increase in November. Corporate credit climbed 3.3% to R$2.70 trillion, while lending to households expanded 1.8% to R$4.42 trillion. On a year-on-year basis, the balance of credit operations grew 10.2%, marking a deceleration from 2024, when growth reached 11.5%. The slowdown in 2025 was evident in both segments, with corporate credit rising 8.1% versus 9.9% in 2024, and household lending increasing 11.6% compared with 12.6% a year earlier.

Brazil’s total stock of outstanding loans increased 0.9% month-on-month to R$7.0 trillion in November 2025, matching the pace seen in October. Corporate credit rose 0.3% to R$2.6 trillion, while lending to households expanded 1.2% to R$4.4 trillion. On an annual basis, total credit growth eased to 9.5%, from 10.2% in the previous month. Credit to companies also continued to decelerate, rising 7.0% year-on-year compared with 8.4% in October. Household credit growth slowed slightly as well, increasing 11.1% versus 11.3% previously.