Brazil loan defaults stay at near two-year high in September
SAO PAULO Oct 27 (Reuters) - Bank loans delinquent for at least 90 days in Brazil remained in September at their highest in almost two years, the central bank said on Tuesday, as a widespread economic downturn and rising borrowing costs kept companies and consumers from staying current on their debt.
The so-called 90-day default ratio, a benchmark for delinquencies, came in at the equivalent of 4.9 percent of outstanding non-earmarked loans last month, according to a central bank report. September's number was the highest for the ratio since October 2013, when it reached 5 percent.
The default ratio for August was revised upwards to 4.9 percent, the report added. (Reporting by Guillermo Parra-Bernal Editing by W Simon)
© Thomson Reuters 2016 All rights reserved.