Banco Pan will provide a salary loan to Auxílio Brasil

Banco Pan president stated that the foundation intends to provide payroll deductible loans to Auxílio Brasil beneficiaries

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Last Monday (8), chief Pan Bankwhich is controlled by BTG Pactual, stated that the institution intends to provide credit Dedicated to beneficiaries of the Auxílio Brasil Social Program.

The largest default

“Obviously it will not be the same (interest) rate as in the INSS”said Carlos Eduardo Guimarães during a conference call with analysts after the announcement of second-quarter results.

“It will be beneficial to the bank and will make banking inclusion more visible… it will be a more competitive product than the options that (the beneficiary of the program) can access,” The executive said, indicating that “The default should be bigger” of the payroll loan provided to beneficiaries of INSS.

However, the Executive did not say when Pan would begin introducing this method.

governor

According to Guimarães, despite the improvement in the risk scenario in the past six months, Ban remains conservative in the credit view. Thus, even suggest to clients credit cards which reduce its limits.

“When we feel more comfortable, we will speed up (issuing the card). At the moment we are not there yet”Guimarães said. It is expected that the delinquency in payments in the second half of the year will remain at the same levels, “Improve next year”Executive noted.

In the second quarter, Pan’s default level in late operations of more than 90 days was 6.7%, versus 5.4% in the same period last year and 6.8% in the first three months of 2022.

big banks

However, the Banks Private companies will not submit in Brazil loan Addressed to recipients of Brazilian aid.

thus, BradescoItaú, Santander, nubank And the BMG Are some institutions that will not provide credit. The rejection comes after the government launched the measure without setting a limit on the interest rate that would be charged.

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