Loan Market in Brazil - 2023.06 Rankings

The Brazilian loan market is growing rapidly, with new players and products attracting more customers. According to our latest competitor monitoring report , the number of credit clients in Brazil reached 264.5 million at the end of June 2023, an increase of 26.1 million compared to the same period of the previous year. The number of credit transactions also rose by 13% year-on-year, reaching 666 million operations as of June.

The report also reveals the market share of the main competitors in the loan sector, based on the number of clients with active loans. Nubank , the big digital bank and FinTech company, led the ranking with a growth of 1.21 market share points in the second quarter of 2023, followed by Banco Mercantil , M PAGAMENTOS ( Lojas Marisa ) , Inter and Banco Bmg . The top five competitors ( Itaú Unibanco , Nubank , Bradesco , CAIXA and Santander Brasil ) together manage 48.9% of the market.

The balance of credit operations within the National Financial System (SFN) totaled BRL 3.42 trillion in June 2023, up 0.5% in the quarter and 13.2% in the year-on-year comparison, according to data from the Central Bank of Brazil (BCB). The growth was driven by both credit cards and car loans operations, with different types of products and modalities.

The Brazilian loan market is also undergoing a digital transformation, with electronic platforms assuming a prominent role in offering innovative and accessible solutions to customers. Digital banks and credit FinTechs are challenging the traditional players and expanding their market share. These companies will continue to pose challenges to the financial sector in upcoming years, as they face regulatory and operational issues.