RIO DE JANEIRO, BRAZIL - (Reuters) Brazil’s top four listed lenders are giving months-long extensions for consumers and companies to repay R$235 billion (US$43.98 billion) in outstanding loans, a move to give financially squeezed borrowers breathing room.
The loans subject to forbearance programs, which range from 13 percent of Banco Santander's portfolio to 10 percent of Itau-Unibanco, are an indicator of potential defaults. It was unclear how many borrowers, squeezed during the coronavirus crisis, will be able to pay their debts once the grace periods end.
The extensions, granted between March and June, vary . . .