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Banking and insurance
The Banking & Insurance sector – often referred to as the lifeblood of the real economy – is of vital importance in the modern credit-driven economic growth model. Among its functions are intermediation between savers and borrowers, ensuring funds are allocated efficiently; support of payment and settlement systems that facilitate trade and international economic relations; and provision of various products that mitigate risk and uncertainty. The accelerating pace of technological change, stricter regulation and shifting consumer habits are reshaping the traditional banking model and pushing the sector towards innovation-led growth.
Activities associated with Banking & Insurance are depositary and non-depositary credit intermediation and related activities, investment banking, securities brokerage, commodity contracts dealing and diverse financial investment activities. The sector also includes insurers, re-insurers and insurance brokerages, pension funds, health and welfare funds, monetary authorities, stock exchanges, and collection and credit agencies.
According to the Monthly Survey of Trade (PMC) by Brazil's Statistics Office (IBGE), in March 2024, the retail trade in Brazil remained stable with no change in sales volume compared to February 2024, adjusted for seasonal variations. This stability ...
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In 2023, Brazil was the 12th largest market in the world in terms of insurance premiums written, mainly due to its large population, according to a Swiss Re report. In terms of density, however, Brazil lags behind its regional peers and developed ...
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In 2023, the Brazilian retail sector grew, with a 1.7% y/y increase in sales volume, according to the Brazilian Institute of Geography and Statistics (IBGE). In terms of nominal revenue, there was a significant rise of 4.1% y/y. Expanding the scope ...
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In Q1 2024, the net revenue of Brazil's telecom industry stood at BRL 44.2bn, growing by 3.8% compared to Q1 2023 and by 0.7% compared to Q4 2023. Mobile telephony services (including mobile broadband services) accounted for 50% of total revenue in ...
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The infrastructure sector in Colombia is facing several challenges, including domestic political issues and international economic conditions affecting the performance of sub-sectors. Despite some economic variables, such as inflation and interest ...
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In 2023, Colombia's food and beverages sector decreased in real terms by 2.4% y/y, having presented outstanding growth in 2021 (5.8% y/y) and 2022 (7.5% y/y), and exhibits diverse trends and dynamics across its various segments. Despite a 1.56% y/y ...
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Colombia's mining sector is of great importance for the country in terms of external trade revenues, gross value added and government revenue, mainly due to its vast production of mineral fuels, including thermal and metallurgic coal. The country is ...
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In 2022, Brazil was among the top 10 largest telecom markets globally by number of subscribers, according to the International Telecommunication Union (ITU). The country ranked fourth by number of fixed broadband users, seventh for mobile telephony ...
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In 2023, Colombia's economic activity decelerated rapidly, and this was reflected in a deacceleration of the total loan portfolio linked to household consumption and lower profitability. The latter was partly explained by the increase in provisioning ...
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In 2023, Brazil's construction industry navigated through a challenging period, facing hurdles that led to a contraction of its gross value added (GVA) despite initial projections that it would grow. Factors such as high interest rates and delays to ...
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