The survey on bank conditions shows an increase in lending rates during the month under review. According to the Bceao, which provides the information, excluding charges and taxes, the average rate calculated at Union level came out at 6.69% in October 2020, after a level of 6.50% in September 2020, an increase of 19.4 basis points (bps), after a decline the previous month (-36.8 bps).

According to the Bceao, depending on the nature of the debtor, interest rates have increased in the assistance granted to financial customers, insurance and pension funds, as well as to companies in the productive sector. The decline in the cost of credit noted at the level of sole proprietorships and village cooperatives and groups moderated the trend.

The analysis following the purpose of the credit indicates that the increase in borrowing rates is localized at the level of cash and consumer credits, mitigated by the decrease in the cost of advances for exports, housing and equipment.