Brazil's loan defaults rise to highest in nearly 3 years
BRASILIA Dec 22 (Reuters) - Bank loans delinquent for at least 90 days in Brazil rose in November to its highest in nearly 3 years, the central bank said on Tuesday, as a deepening economic recession prevents companies and consumer from paying their debts on time.
The so-called 90-day default ratio, a benchmark for delinquencies, came in at the equivalent of 5.2 percent of outstanding non-earmarked loans last month, according to a central bank report. In October, that ratio was 5 percent.
Outstanding loans rose 0.6 percent in November from October, rising from a decrease of 0.1 percent in the prior month. (Reporting by Alonso Soto)
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