The stock of properties held by banks increases due to defaults by debtors.
The five largest financial institutions in the country – Banco do Brasil (BB), Itaú Unibanco, Bradesco, Santander, and Caixa – ended 2018 with R$ 18,7 billion in assets repossessed as collateral for defaulted loans. Approximately 90% of this value refers to real estate.
247 - The five largest financial institutions in the country - Banco do Brasil (BB), Itaú Unibanco, Bradesco, Santander and Caixa - ended 2018 with R$ 18,7 billion in assets repossessed as collateral for defaulted loans. Approximately 90% of this value refers to real estate.
A report in the newspaper Valor Econômico indicates that this inventory had been on the rise since 2015, but it jumped again last year, growing by 32,3%.
Recently, there has been a notable increase in the repossession of lower-value properties, many of which are linked to the Minha Casa, Minha Vida (MCMV) housing program, operated mainly by Caixa Econômica Federal.