Lending continues to grow at fast pace, up 19.6% in year through September

- Wednesday, October 26, 2011

Lending continues to grow at fast pace, up 19.6% in year through September

Lending in Brazil picked up speed and grew 19.6% in the 12 months through the end of September to 1.93tn reais (US$1.1tn), central bank BCB said in a press release.

Lending had previously advanced 19.4% in the 12 months ending August.

The increase was in large part due to the FX effect of export financing from national development bank BNDES, BCB said.

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Lending rose 2.1% on the end of August and 13% year-on-year in September.

To read the full BCB release in Portuguese, go to this link