No menu items!

Brazil banks post 10% drop in revenue, yet prove resilient in pandemic

RIO DE JANEIRO, BRAZIL - The pandemic explains a relevant part of the story, but not all of it. The combined revenues of financial services companies fell almost 10% last year, to R$108.3 (US$19.4) billion, as a result of the economic crisis triggered by Covid-19, and yet Brazilian banks once again showed resilience, as in the 2008 financial crisis.

Individual default did not explode in the most acute months of the crisis, largely thanks to the suspension of debt collection by banks, but remained under control and even decreased, as collections resumed. The average default rate . . .

To read the full NEWS and much more, Subscribe to our Premium Membership Plan. Already Subscribed?

Check out our other content