Market Size of Brazil Retail Banking Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 141.72 Billion |
| Market Size (2029) | USD 235.60 Billion |
| CAGR (2024 - 2029) | 10.70 % |
| Market Concentration | Medium |
Major Players.webp)
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Brazil Banks Market Analysis
The Brazil Retail Banking Market size is estimated at USD 141.72 billion in 2024, and is expected to reach USD 235.60 billion by 2029, growing at a CAGR of 10.70% during the forecast period (2024-2029).
Retail banking or consumer banking, is the provision of services such as savings accounts, transactional accounts, mortgages, debit and credit cards, and others, provided by banking institutions to the general population. The COVID-19 pandemic accelerated the use of technology in the Brazilian financial system. This trend is growing through the years and will also continue to grow in 2023 as part of the government's plan to boost competition in the banking industry and support fintech development.
Online banking has improved the penetration rate of banking services in Brazil. With increasing internet access, people can perform financial transactions on their mobile devices. This initiative has been prioritized to bring the financial system closer to the population. Retail banking is less sensitive to price competition, exhibiting considerably higher returns than corporate banking. Brazil has the highest representation of digital adventurers in banking compared to the global average. In recent years, Brazil observed low housing loan penetration and a very low level of household debt.
