Default rates in Brazil increase in March, the first rise in seven months

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Defaults on loans in Brazil had a slight increase in March – the first time in seven months according to the Central Bank, as the effects of the recession continue to bite.

Loans that have not been paid for 90 days or more rose by 5.7% of outstanding non-earmarked credit last month, from 5.6 percent in February. These non-performing loans increased most at state banks, which are responsible for around 56% of lending.

At the same time, loans to companies rose from 5.2% in February to 5.6% in March.

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