Brazil’s total stock of outstanding loans increased 0.9% month-on-month to R$7.0 trillion in November 2025, matching the pace seen in October. Corporate credit rose 0.3% to R$2.6 trillion, while lending to households expanded 1.2% to R$4.4 trillion. On an annual basis, total credit growth eased to 9.5%, from 10.2% in the previous month. Credit to companies also continued to decelerate, rising 7.0% year-on-year compared with 8.4% in October. Household credit growth slowed slightly as well, increasing 11.1% versus 11.3% previously.