In an interview with CNN on Thursday afternoon (13), the president of Caixa EconÃ´mica Federal, Pedro GuimarÃ£es, said that the bank’s focus is real estate credit and that there is no forecast of an increase in interest rates in this line.
âThat increase in interest rates that we announced a few months ago on real estate credit already reflected this expected increase [na taxa de juro]. We looked at the 8-year future yield curve, and in fact there was a reduction of more than 1% in the last two months, and as a result, we do not expect an interest rate increaseâ.
Pedro GuimarÃ£es also anticipated that Caixa broke a record in real estate financing and they project growth of 10% in this line for 2022. âIn 2020 and 2021 we had a record for real estate credit, a significant record, which we will announce in more detail. And, more than that, we expect to grow at least 10% of real estate credit in 2022.â
Also according to the bank’s president, even though the IPCA was higher than expected, there was no significant increase in delinquency in the credit line that uses the index. âThere was no expectation of an increase in the IPCA at this level, but yes, delinquency in this line increased a little, but nothing relevantâ, he said.
GuimarÃ£es pointed out that real estate credit is the bank’s focus and that the real estate credit portfolio is the one that has the greatest guarantee, apart from payroll loans. âBecause you have the guarantee of the property. We have almost BRL 1.5 trillion in real estate [via garantia de crÃ©dito imobiliÃ¡rio]. We try as much as possible to renegotiate for the consumer not to lose their propertyâ, he said when commenting on default.
According to the president of Caixa, today the bank has a default rate close to what it had in 2019, even after the impact of the pandemic. âIn 2020, while everyone put the brakes on real estate credit, we expanded. And that was very important, because at that moment it would have disorganized the sector. It was very right that we gave breaks to 2.5 million families. At that moment there was a great sensitivity, because we basically had half of our portfolio on holdâ, he reported.
âToday, the picture of Caixa’s loan portfolio is very strong, healthy, and we do not see a significant need to increase provisions. On the contrary, the real estate loan operation remains strong and we see another record year. with very strong demand, especially in relation to 2021 and 2020.â
Pedro GuimarÃ£es also stated that Caixa’s other focus is on Micro and Small Enterprises (MSEs). âCaixa does not focus on large companies. Our focus is MPEâ. According to him, along these lines, there is a guarantee by Pronampe and Fampe. âThen we wonât lose money.â In addition, the bank also operates with lines of credit for states and municipalities guaranteed by the National Treasury and the Participation Fund for States (FPE) and Municipalities (FPM). âIn other words, more than 90% of Caixa EconÃ´micaâs credit portfolio has a real guarantee.â
GuimarÃ£es also stated that the bank intends to increase its credit cards. âCaixa has more than 100 million debit cards, but less than 10 million credit cards. But this also greatly reduces the problem of delinquency, as delinquency comes at higher rates, such as credit card revolving.â
*Posted by Ana Carolina Nunes
Reference: CNN Brasil
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