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Brazil NPLs steady in August, central bank data shows

After a slightincrease in July, delinquencies in Brazil steadied in August,according to figures released by Banco Central do Brasil.

The ratio of loans more than 90 days past due held at 5.7%in August, unchanged from the prior month. NPLs for all credit operations werealso stable month over month at 3.6%, though were up 50 basis points year overyear.

Total credit operations came to about 3.12 trillionBrazilian reais at the end of August, little changed from the prior month butdown about 0.6% from a year earlier.

The central bank expects lending operations from commerciallenders to decline by 2% in 2016 this year, reversing from a previous forecastof 1% of expansion, Reuters reported.

At a news conference in Brasilia, central bank economistTulio Maciel attributed the deteriorated forecast to a downturn in creditoperations forecast from foreign banks and lower loan disbursements bystate-controlled banks, the newswire said.

As of Sept. 27, US$1was equivalent to 3.25 Brazilian reais.