Banco do Brasil credit card default rate hits 16.35% in Q3, up ~8pp YoY

Banco do Brasil's personal credit card default rate reached 16.35% in Q3, a jump of nearly 8 percentage points year-over-year, signaling rapid deterioration in Brazilian consumer credit quality. The sharp rise suggests mounting financial stress among households, which could pressure the bank's asset quality and broader Brazilian financial sector sentiment. The trend may reflect higher interest rates or weakening labor conditions, though the underlying drivers are not specified.

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