UPDATE 1-Brazil bank lending rises in October

* Outstanding loans rise 1.9 pct in October from September

* Delinquency rates hold steady at 4.7 pct in October

(Adds background, comments from the central bank)

BRASILIA, Nov 29 (BestGrowthStock) – Bank lending in Brazil rose in
October, the central bank said, underscoring surging consumer
demand that has enabled Latin America’s largest economy to
outperform many of its peers this year.

Outstanding loans (BRLEND=ECI: ) in Brazil’s banking system
rose 1.9 percent in October from September, the central bank
said on Monday.

“Credit operations in the financial system continued to
show a performance in line with the dynamism of economic
activity, intensified by a seasonal boost related to
end-of-year sales and the positive trends in income and
employment,” the bank said in a credit report.

Relatively cheap credit in Brazil has helped fuel demand
for consumer goods, cars and new homes, making Brazil among the
world’s fastest growing economies at a time when advanced
economies are struggling to get back on their feet.

Loan delinquencies as a proportion of total loans, or the
average loan default rate, held steady at 4.7 percent in
October compared to September.

(Reporting by Ana Nicolaci da Costa and Isabel Versiani,
Editing by Chizu Nomiyama)

UPDATE 1-Brazil bank lending rises in October