Brazil witnessed one of the worst pandemic scenarios in the world, with a second wave peaking at the beginning of 2021. Throughout the year, however, immunisation continued, reaching 65% of the population as of December 2021, and restrictions were loosened.
The election period has added volatility to a contractionary policy of sequential increases in basic interest rates – the most intense since the adoption of the inflation-targeting framework regime, in 1999. The global scenario is seeing inflation and fear of recession, with more aggressive interest rate shocks.
As the housing deficit is significant in Brazil, buying a residence, and thus not having to spend a significant share of the family’s income on rental, is considered a dream come true by many Brazilians (o sonho da casa própria). Many lower-income families end up sharing a residence with relatives, or building a new property on the same land, or extending the existing house as a more affordable solution.
The concept of paying later for a purchase is no stranger to Brazilians. As a considerable part of the population has recently started to gain access to the National Financing System (SNF), retailers have been offering alternatives for instalments and delayed payments for decades, in a model called crediário.
Access to banks and financial institutions is advancing in Brazil, with the majority of the adult population having some relationship with the National Financing System (SNF). The social distancing restrictions imposed by the pandemic, combined with the payment of government financial aid, contributed to speeding up digitalisation.
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Understand the latest market trends and future growth opportunities for the Consumer Lending industry in Brazil with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
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Consumer Lending
Aggregate of Consumer Credit and Mortgages/Housing. Gross Lending: The total value of loans advanced by institutions in a given year; data refers to single year only. Outstanding Balance: The collective amount owed by borrowers at the end of a given year; data refers to the cumulative impact of debt.
See All of Our DefinitionsThis report originates from Passport, our Consumer Lending research and analysis database.
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