FX.co ★ Brazil's Credit Stock Contracts in January

Brazil’s total outstanding loan portfolio slipped 0.2% month-on-month in January 2026 to R$7.1 trillion, reversing the 1.8% increase recorded in December. The decline was led by a 1.7% contraction in corporate lending, which more than offset a 0.7% expansion in household credit. As a result, household and corporate loan stocks stood at R$2.7 trillion and R$4.5 trillion, respectively. On a yearly basis, credit growth eased to 10.1% in January from 10.3% in December 2025.