Brazil's financial system credit stock dipped in July to 3.290 trillion reais, down 0.2% on a monthly basis, due to weaker corporate financing, according to data from Banco Central do Brasil.
The credit stock represents 46.9% of Brazil's GDP, the regulator said. Among companies, the loan portfolio fell 1.5% from the previous month, to some 1.401 trillion reais. Outstanding loans to individuals grew at a 0.8% pace to 1.889 trillion reais at the end of the month.
Over the last 12 months, the total loan portfolio grew 5.1% from the 3.131 trillion reais posted a year before.
Overall, nonperforming loan ratios rose to 3.0%, from the 2.9% seen in June, but remained flat year over year.
As of Aug. 28, US$1 was equivalent to 4.16 Brazilian reais.
