STXNEWS LATAM-Brazil corporate loan demand falls in Sept -Serasa

October 16, 2013

Brazilian companies cut demand for loans by 5.4 percent in September, the second consecutive monthly decline, credit research firm Serasa Experian said on Wednesday. A weak economic recovery, a volatile exchange rate and rising interest rates might have been the main reasons for a decline in borrowing among farms, factories and services companies, it said.

Compared with September 2012, demand for corporate credit rose by 6.9 percent because there were more working days in the month this year, Serasa said. In 2013 through September, demand for corporate loans shrank 3 percent from a year earlier.