Brazil: Loan applications grew 71% in 2021, says IFE

RIO DE JANEIRO, BRAZIL – The number of loan applications grew 71% in 2021, reports data released by the FinanZero Lending Index (IFE) on Wednesday, January 12.

According to the indicator, the main reason for borrowing is to settle debts.

According to FinanZero, the average amount borrowed was R$6,791 (US$1,225) last December, 6% more than in December 2020.

Also, in line with IFE’s data, the average client profile is made up of 53% men, 35 years old, and residents of the Southeast region.

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