Banco do Brasil Mortgage Finance Portfolio Grows 105% in 12 Months
On 25th November 2011, the Banco do Brasil reported that its annual housing lending figure reached R$ 7.02 billion – representing a 105 percent rise in relation to December 2010. The majority (R$ 5.56 billion) was used to finance the Brazilian public for residential real estate purchasing (a rise of 89 percent over the year) with lending to companies reaching R$ 1.46 billion (a rise of 209 percent over the year).
The bank mentioned in its press release that 2012 will see maintenance of housing credit growth, particularly via its impending involvement with the My House, My Life (Minha Casa, Minha Vida) programme with 97,000 of such units expected to be financed by the close of next year. Having initiated operations in the sector in 2008, the state owned bank is currently the 5th largest participatory home lender in Brazil.
