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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.
In 2023, Brazil's banking sector faced a challenging yet active year, achieving significant financial results while navigating through economic difficulties. The sector reported a net income of approximately BRL 145bn, marking a peak in profitability ...
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Brazil boasts the highest number of fintechs in Latin America, a status attributed to several factors that have fostered an ideal environment for the sector's emergence and growth. The country's large population and highly concentrated banking system ...
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The fintech sector in Latin America is showing signs of stabilisation and progress toward long-term solidity and resilience. Fintech startups cater to the unbanked population, and the region has seen dynamic regulatory developments, with more ...
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Latin America is a key region for the global mineral markets, thanks to its abundance of natural resources and relatively low domestic consumption. From Chile's and Peru's copper to Brazil's iron ore and niobium, and from Mexico's precious metals ...
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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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