Brazil's credit volume hits record high

10:26, July 28, 2010      

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Total credit available in Brazil reached a record high of 1.529 trillion reais (868.75 billion U.S. dollars) in the first half of 2010, the Central Bank said Tuesday.

The amount represents an 8.1-percent year-on-year increase, equivalent to 45.7 percent of Brazil's GDP, it said.

The bank said the uptick could be attributed to the continuous economic growth of the country, the rise in credit operations carried out by the Brazilian Development Bank (BNDES) and to the expansion of housing credit.

According to the Central Bank, public banks were responsible for 42.3 percent of the credit operations in Brazil in June, up from 41.7 percent in May. Private banks and foreign banks were responsible for 40.1 percent and 17.6 percent of the operations, respectively.

Source: Xinhua

(Editor:祁澍文)

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