Brazil's bank lending down 0.7 pct in March amid recession

jueves 28 de abril de 2016 09:43 GYT
 

BRASILIA, April 28 (Reuters) - Commercial banks in Brazil reduced lending in March for a third straight month as the once-booming economy sinks deeper into recession, according to central bank data released on Thursday.

Disbursements dropped 0.7 percent in March from February, a steeper fall than the 0.5 percent decrease in the prior month. The 90-day default ratio, a benchmark for loan delinquencies, rose to the equivalent of 5.6 percent of outstanding loans. (Reporting by Marcela Ayres; Writing by Alonso Soto; Editing by Chizu Nomiyama)