10/09/2008 14h00
Financial institutions estimate growth
Gazeta Mercantil - 10/09/2008
Liquidity's stagnation and specially the successive increases of the Selic rate have brought up, between 15% and 20% compared to tree months ago, the vehicle financing interest rates practiced by the banks linked to the makers of the automotive sector, according to the National Association of the Maker's Financial Companies (Anef). Nonetheless, Anef estimates that the demand will remain warmed and keeps the perspectives of a strong growth for this year, an optimism shared by Losango, sales promoter of the HSBC Bank Brasil and Mercedes-Benz Bank's products. Anef's president, Luiz Montenegro, informs that last Tuesday the interest rates for the purchase of automobiles were between 1.65% and 1.75% a month. With the international financial crisis, the scenario for the last quarter is uncertain in his opinion, but the forecast is that the credit growth for the purchase of vehicles, one of the main segment drivers, should slowdown from the 40% seen until August to 30% and end this year within Anef's estimates of 30%. "The slowdown is also compatible with the sales volume projected by the industry itself.". The terms, he affirms, had already been reducing and are at 42 months, on the average. "It will change if the crisis persists and becomes epidemic." Hilgo Gonçalves, Losango's managing director, says that the financial institution is watching the moment cautiously, but it is well capitalized and should not reduce the loans volume. "There will be no shortage of money for the clients. The economy is stable, employment and income levels have improved and the default level (2.18% over the Losango's portfolio) is under control. We only have to be on alert and inform the clients about the needs of the conscious credit", he says and adds that in some lines Losango is even expanding the terms, so that the installments fit the credit takers' budget, and that their interest rates (between 2.5% and 5.7% per month) have had some adjustment because of the Selic rate and higher costs. In addition to its own chain, Losango is present at 20 thousand retail stores. The financial institution keeps the projections for a 20% high in the portfolio this year, to R$ 3.2 billion (US$ 1.4 billion). Francisco Ribeiro, commercial and marketing officer of the Mercedes-Benz Bank, which has 85% of the new businesses connected to financings of the National Economic and Social Development Bank through
Finame, says that the demand for the financing of buses and trucks is strong and that the bank has been breaking records in its granting. "We have increased our estimates of high of the portfolio from R$ 4.2 billion (US$ 1.9 billion) to R$ 4.4 billion (US$ 2 billion) this year, which will be a 22% growth over 2007."
