Brazil payroll loans surpass R$101 billion via 17.04 million contracts for 8.52 million workers. See why banks are racing into this safer 'good credit' boom.
Brazil · Banking
Key Facts
—The boom. Brazil’s new Crédito do Trabalhador payroll-loan program has topped R$101 billion (roughly US$20 billion).
—The reach. It spans about 17.04 million contracts and 8.52 million formal-sector workers.
—The mechanics. Repayments are deducted straight from wages, and borrowers can bundle up to nine loans into one contract.
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