Banking in Brazil Current Demand Behavior Analysis¶
Demand Behavior¶
The demand behavior in the Brazilian banking sector can be analyzed by examining the engagement of its two primary customer segments: individuals (B2C) and businesses (B2B), which include corporations, institutions, government entities, merchants, and increasingly, fintechs and payment institutions. Based on the provided reports covering 2024 and early 2025, there is clear evidence of growth in customer activity across various banking services for both segments, suggesting an overall increase or deepening engagement within the customer base rather than a decline.
For individual consumers (B2C), the demand for banking services is characterized by a growing adoption of digital platforms and a significant increase in investment activities and electronic payments. The volume invested by individuals in Brazil reached R$ 7.3 trillion by the end of 2024, representing a substantial 12.6% growth compared to 2023. This increase was observed across different wealth segments, including Retail Traditional, Retail High Income, and Private Banking. Furthermore, the use of electronic payments, particularly Pix, has seen explosive growth, with R$ 27.3 trillion moved via Pix in 2024, making Brazil the second-largest instant payment market globally with expectations for continued significant growth. Card transactions also showed strong growth in 2024, with a 11.2% increase in value and 11.3% in volume during the first semester. The continued expansion of digital banks like Nubank, which holds a significant retail customer market share by count, further indicates a growing number of individuals utilizing banking services, often through digital-first channels.
Demand from business consumers (B2B) is also robust and showing growth, particularly in credit markets and capital markets activities. The total credit stock in the National Financial System (SFN) reached R$ 6.5 trillion in February 2025. Credit directed specifically to companies saw a 10.7% increase in the 12 months leading up to February 2025 and is projected to grow by 9.1% in 2024. The capital markets experienced a strong year in 2024, with total issuances reaching R$ 783.4 billion, driven by record volumes in debentures and other securities. This activity reflects businesses' increased demand for funding and investment banking services. Additionally, corporate payments continue to be a critical area of interaction, with banks and payment institutions providing solutions for payroll, supplier payments, and receivables collection, indicating ongoing business operational needs.
While the reports do not provide precise overall customer counts with historical comparisons for every single category of individuals and businesses, the consistent growth observed in key financial metrics such as individual investments, total credit stock (including both retail and corporate segments), electronic payment volumes (Pix and cards), and capital markets issuances strongly suggests that the number of active customers and their engagement with banking services are increasing in Brazil. The rise of fintechs and digital banks, while intensifying competition, also contributes to expanding the overall financial inclusion and potentially bringing new customers into the formal banking system, especially within the individual segment.
| Customer Segment | Indicator of Demand/Activity | 2024/Early 2025 Volume/Size | Growth/Decline Trend (vs. previous periods) |
|---|---|---|---|
| Individuals | Individual Investments | R$ 7.3 trillion (End 2024) | Growth (+12.6% in 2024) |
| Credit to Individuals (SFN Stock) | R$ 4.0 trillion (Feb 2025) | Growth (+12.5% in 12 months) | |
| Electronic Payments (Cards - Value) | R$ 2 trillion (H1 2024) | Growth (+11.2% YoY in H1 2024) | |
| Electronic Payments (Cards - Volume) | 22.1 billion transactions (H1 2024) | Growth (+11.3% YoY in H1 2024) | |
| Pix Volume | R$ 27.3 trillion (2024) | High Growth (Significant adoption) | |
| Poupança Stock | R$ 971.8 billion (End 2024) | Growth (+5% in 2024), but some net withdrawals in specific months | |
| Businesses | Credit to Companies (SFN Stock) | R$ 2.5 trillion (Feb 2025) | Growth (+10.7% in 12 months) |
| Capital Markets Total Issuances | R$ 783.4 billion (2024) | Growth (Record volumes) | |
| Debenture Issuances | R$ 473.7 billion (2024) | Growth (Record volume) | |
| Banking Captation Instrument Issuances | N/A | Growth (+10.9% in Q4 2024 vs Q4 2023) | |
| Real Estate Financing Concessions (Projected for 2024) | R$ 270 billion (Proj 2024) | Growth (+7.8% from 2023), but retraction expected in 2025 |
Note: Growth/Decline trends are based on the latest available data points in the provided reports.
References¶
- Anbima. (2025, March 14). Investimentos dos brasileiros crescem 12,6% e chegam a R$ 7,3 trilhões em 2024.
- Banco Central do Brasil. (2025, April 9). Estatísticas monetárias e de crédito.
- Panorama Abecs. (2024, August 7). Cartões movimentam R$ 2 trilhões no primeiro semestre de 2024.
- Industry Research. (n.d.). Brazil Retail Banking Market Size & Share Analysis - Industry Research Report.
- Anbima. (2025, March 21). ANBIMA: Os movimentos de 2024.
- XP. (2024, July 31). Poupança apresenta mais resgates em julho, e estoque volta para abaixo do R$ 1 trilhão.
- Anbima. (2025, January 22). Mercado de capitais encerra 2024 com emissão de R$ 783,4 bilhões.
- CNN Brasil. (2024, July 24). Financiamento imobiliário deve subir quase 8% em 2024, diz Abecip.
- Ergil Construções. (2024, September 20). Financiamento imobiliário deve subir quase 8% em 2024.
- JC. (2025, February 7). Volume de financiamentos imobiliários bate recorde em 2024, mas retração é nova realidade para 2025.