Total lending to the private sector eased in September by 1.9% m/m after picking up in August to 2.3% m/m, pushing outstanding private loans to BRL1.55 trillion. Domestic financial institutions eased credit expansion marginally by 2.3% m/m (2.4% m/m in August) and their foreign counterparts by 1.7% m/m (2.4% m/m in July). Public sector lending also showed some deceleration, 1.3% m/m from 2.2% m/m in August.
In yearly terms, total outstanding loans (private and public) continued to grow at a solid pace—19.6% in September (19.2% y/y 3MMA). Consumer loans, which[...]