Brazil's bank lending up 1.8pc in Nov, new loans boosted by government programs

SAO PAULO: Brazil's bank lending grew by 1.8% in November from the previous month, boosted by both individuals and corporate loans, according to a survey by the banking lobby association Febraban released on Tuesday.

Over the past 12 months, the loan book grew 15.2%, the fastest pace since September 2013, Febraban said, mainly driven by Brazil's government lending programs to help small companies weather the crisis.

New disbursements were also up 8.5% in November from the previous month, driven by corporate loans backed by the government, the association added. In 12 months, growth is at 7.2%.