BNDES sees loans representing 70% of GDP at end-2014

Monday, April 4, 2011

Loans in Brazil should climb to represent 70% of GDP at the end of 2014, from 49.5% at end-2010, local news service Agência Estado reported an official from national development bank BNDES as saying.

Mortgage lending will be one of the main drivers of loan growth during these years, said BNDES' planning director, João Carlos Ferraz.

Mortgage loans only represented 3.3% of GDP at the end of 2010, and this figure should rise to 9.6% by end-2014, Ferraz said.

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