Report on Non-Financial Credit Providers

Half-yearly report on the evolution of loans granted by non-financial institutions and the profile of those who access it.

Financing Balance | The financing balance of the PNFCs reached $8 trillion in January 2025, increasing 54% in real terms compared to July 2024 and 86% YoY, reaching the highest value since June 2018. In terms of participation in the total balance, the growth of the Fintech group stood out, going from 16% in July 2024 to 21% in January 2025 (all-time high).

By type of assistance, personal loans grew 93% in real terms between July 2024 and January 2025 (registering a balance of $2.7 billion in the first month of the year), compared to 37% for credit cards ($4.5 billion).

Interest Rates | The weighted average APR of OPNFCs for personal loans stood at 132% in January 2025, accumulating a decrease of 84 p.p. compared to the peak reached in December 2023, and 14 p.p. compared to July 2024. In the case of the weighted average APR of credit card assistance from the ETCNB, it stood at 87% in January 2025, evidencing an increase of 7 p.p. compared to July 2024, but remaining 80 p.p. below the value recorded in December 2023.

Irregularity | The total irregularity of the PNFC portfolio stood at 8.6% in January 2025, 0.5 p.p. more compared to July 2024. In the last two months under analysis, the downward trend that had been observed since the end of 2023 was partially reversed.

Number of debtors | The total number of PNFC debtors exceeded 9.9 million at the beginning of 2025, increasing 20% compared to July 2024. The Fintech group was the main driver, with 4.9 million debtors (+39%).

Debt of PNFC clients to the EEFF

Number of debtors and balances | Between July 2024 and January 2025, an increase in the number of shared PH debtors was observed, reaching 5.6 million (+21%). On the other hand, the total balance of financing of the EEFF to these debtors reached approximately $17 billion in the period (+81% at constant prices).

Funding by Type of Assistance | The growth of EEFF financing to PNFC PH debtors was mostly driven by personal loan assistance, increasing 111% in the last six months, while credit card assistance balances increased 69%.

Funding of NFPPs with the ESFFs and in the capital market

Funding of the PNFCs with the SF | As of January 2025, the debt of the PNFCs with the EEFF reached $1.5 trillion, which represents an increase of 62% in real terms in the last six months and 155% y.o.y. Despite this expansion, the level of financing of NFPPs with the LFSE remains at relatively low levels in relation to their active portfolio (19% in January 2025).

Funding of PNFCs in the capital market | In the first quarter of 2025, the amounts issued by the PNFCs through FF reached their highest level since 2018, after registering a 359% increase in real terms compared to the first quarter of 2024.