The total volume of credit operations in the Brazilian financial system rose 0.6% in March over February, totaling R$ 3.081 trillion (US$ 879.28 billion), said the South American country’s Central Bank. In 12 months, credit operations in Brazil were up 0.1%.
According to the Brazilian Central Bank, the volume of credit in March was equivalent to 46.6% of Gross Domestic Product (GDP), up 0.2 percentage points from February. Loans to individuals totaled R$ 1.669 trillion, up 0.6% on a monthly basis, while operations for companies reached R$ 1.412 trillion, up 0.6% on the same comparison basis.
Concerning free resources, the total portfolio amounted to R$ 1.590 trillion, up 1.3% on a monthly basis. Regarding targeted loans, the total balance of R$ 1.491 trillion was 0.1% lower than in February.
The stability in targeted resources was mainly due to the 1.1% reduction in investment financing by the Brazilian Bank for Economic and Social Development (BNDES), keeping a trend observed since December 2015.