June 20, 2022 |
Rising interest rates at home and in the United States could stifle the rapid growth enjoyed by financial technology firms in Brazil, while traditional banks are more equipped to deal with funding issues, analysts at Fitch Ratings and other sources told LatinFinance.
"We are not expecting a big shift in bank dominance," said Claudio Gallina, a senior director at Fitch in Brazil.
The central bank hiked the benchmark Selic rate in Brazil to 13.25% this month, marking a sharp increase from when the
Funding issues could halt growth for some and deal a deadly blow to others, sources say