Brazilian banks postpone $4 billion in consumer and business debt

SAO PAULO, April 27 (Reuters) – Brazilian banks have so far postponed 22.2 billion reais ($3.91 billion) in debt installments due in the coming months, in a move to help consumers and businesses amid the outbreak. coronavirus, the country’s banking industry group said. Monday.

Febraban, as the association is known, said in a statement that the amount refers to 3.8 million contracts, totaling 230.6 billion reais.

In March, Brazil’s top five lenders – Itau Unibanco Holding SA, Banco do Brasil SA, Banco Bradesco SA, Banco Santander Brasil SA and Caixa Economica Federal – said they would offer customers a grace period of between two and six months to pay the debt installments. in the midst of the economic crisis resulting from the pandemic.

Nearly 14 billion reais in deferrals relate to consumer loans, Febraban said.

Still, large companies got 101.5 billion reais in new loans, while consumers got 36 billion reais, Febraban said. The association did not provide a basis for comparing disbursements with the previous year.

The banking association also said it has so far renewed 66.5 billion reais in loan contracts. ($1 = 5.6794 reais) (Reporting by Carolina Mandl; editing by Jonathan Oatis)

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