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06/07/2017 - 17:32hs

Brazil sees net savings surplus for 2nd straight month

Net savings deposits reached USD 1.8 billion in June, the highest amount for the period since 2013. Year-to-date, withdrawals outweighed deposits.

Brasília – For the second month back-to-back, savings account deposits exceeded withdrawals in Brazil. Net deposits (deposits minus withdrawals) came out to BRL 6.1 billion (USD 1.8 billion) in June, the Brazilian Central Bank reported this Thursday (6). The amount is up nearly twentyfold from BRL 292.6 million (USD 88.4 billion) in May, and the highest for the month since June 2013, which had seen deposits outweigh withdrawals by BRL 9.4 billion (USD 2.8 billion).

Despite the surplus in the past two months, withdrawals outpaced deposits in the first half of the year. Year-to-date through June, savings withdrawals exceeded deposits to the tune of BRL 12.3 billion (USD 3.7 billion). Still, this was the best first-half result since net deposits reached BRL 9.6 billion (USD 2.9 billion) in H1 2014.

*Translated by Gabriel Pomerancblum

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