Creating Shared Value - 2020 Strategy & Results
Brazil | Macroeconomic Outlook
Credit levels are growing from a very low base
Itaú
■ Total credit has room to grow to a higher percentage of the GDP, from current 60.1%, approaching per capita adjusted
international levels in 2020.
■ The debt leverage is increasing due to the mortgage increase in Brazil.
46.0%
46.3%
44.6%
42.8%
40.3%
36.9%
33.3%
30.9%
31.3%
29.7%
30.5%
29.1%
28.0%
27.5%
22.4%
21.5%
21.9%
22.2%
19.5%
19.7%
19.8%
9.1%
7.4%
7.2%
7.3%
8.6%
9.0%
9.6%
12.1%
12.5%
12.5%
13.4%
12.9%
12.9%
12.6%
May/08
May/09
May/10
May/11
May/12
Debt service burden - Principal (% of income)
Debt service burden (% of income)
Debt Leverage - without mortgage (% of income)
Note: Source: BACEN/ Itaú Unibanco analysis.
Itaú Unibanco Holding S.A.
May/13
May/14
Debt service burden - Interest (% of income)
Debt Leverage (% of income)
May/15
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