Caixa president says he will not increase interest on real estate credit

On the afternoon of last Thursday (13), the president of Federal Savings Bank, Pedro Guimarães, gave an interview to CNN. During the meeting, it was informed that Caixa’s focus is real estate credit and that there are no forecasts for an increase in interest rates of this type of business.

According to Pedro Guimarães, “That increase in interest rates that we announced a few months ago in real estate credit, it already reflected this expected increase [na taxa de juros]. We looked at the 8-year futures yield curve, and in fact there was a reduction of more than 1% in the last two months, and as a result, we do not expect an interest rate increase”.

The president of Caixa Econômica Federal also anticipated that the institution had set a record financing real estate and that the projected growth for this line in 2022 is around 10%.

“In 2020 and 2021 we had a record for real estate credit, a significant record, which we will announce in even more detail. And, more than that, we expect to grow at least 10% of real estate credit in 2022”, said the president of Caixa.

Delinquency related to real estate credit remained stable

even if the IPCA was higher than expected, there was no significant increase in delinquency by customers who requested credits using the index. According to the president of the bank, “There was no expectation of an increase in the IPCA at this level, but rather, the default in that line it increased a little, but nothing relevant”.

When commenting on the default, Guimarães said: “Because you have the guarantee of the property. We have almost R$1.5 trillion in real estate [via garantia de crédito imobiliário]. We try as much as possible to renegotiation for the consumer not to lose his property”.

For the president of CEF, real estate credit is the focus of the Bank and the loan portfolio of this segment is the second with the greatest guarantee, second only to payroll-deductible loans. Today, the institution has a default rate close to what it had in 2019, even after the negative impact generated by the pandemic in Brazil.

“In 2020, while everyone put the brakes on real estate credit, we expanded. And that was very important, because at that moment it would have disorganized the sector. It was very right that we gave breaks to 2.5 million families. At that moment there was a great sensitivity, because we basically had half of our portfolio on hold”, stated Guimarães.

“Today, the picture of Caixa’s loan portfolio is very strong, healthy, and we do not see a significant need to increase provisions. On the contrary, the real estate loan operation remains strong and we see another record year. with very strong demand, especially in relation to 2021 and 2020”, added the president of Caixa.

Other areas of activity of Caixa Econômica Federal

Another area of ​​activity of Caixa Econômica Federal consists of supporting Micro and Small Enterprises (MEP’s). According to him, along these lines, there is a guarantee by Pronampe and Fampe.

Caixa’s focus is not only on real estate credit, but also credit lines for states and municipalities that are guaranteed by the State Participation Fund (FPE) and Municipalities (FPM), in addition to the National Treasury.

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About Yadunandan Singh

Born in 1992, Yadunandan approaches the world of video games thanks to two sacred monsters like Diablo and above all Sonic, strictly in the Sega Saturn version. Ranging between consoles and PCs, he is particularly fond of platform titles and RPGs, not disdaining all other genres and moving in the constant search for the perfect balance between narration and interactivity.

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