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Credit Cards Market in Brazil - Issuers - 2022.12 Rankings

Outstanding Credit Card receivables (R$)

The credit card market in Brazil continues to be highly competitive, with several issuers vying for market share. According to the 2022.Q4 the top 10 issuers in 2022 hold a combined market share of 81.8%, down from 83.4% in 2021. These issuers reported a total of R$ 402 billion portfolio in 2022, up from R$ 327 billion in 2021.

The top three credit card issuers by portfolio value in Reales in the Brazilian credit card market remain unchanged from the previous year, with Itau Unibanco leading the way with a 27.4% market share in 2022, followed by Bradesco with 13.9% and Banco do Brasil 11.5%. The biggest mover in the rankings was NU Pagamentos+NU Bank, which increased its market share from 6.4% in 2021.Q4 to 9.1% in 2022.Q4.   

 Outstanding Credit Card receivables (R$) - 2017-2022 YoY%

Outstanding Credit Card receivables (R$) Brazil 2022

The annual variation in credit card market outstandings in Brazil indicates a steady increase in outstandings over the past three quarters, with a 25% growth rate reported in 2022.Q4, down from 36%% in 2022.Q3 and 46% in Q1. The total credit card market outstandings in Brazil in 2022 reached BRL 491 billion, up from BRL 392 billion in 2021.

This growth in credit card market outstandings is partly driven by the increased use of credit cards in Brazil, as more consumers turn to credit to finance their purchases. However, it also highlights the challenges faced by Brazilian consumers, who are increasingly reliant on credit to maintain their standard of living. This trend is concerning, given the high interest rates associated with credit card debt in Brazil, which can quickly lead to financial hardship for those who are unable to repay their debts.

 Market Share performance - Top issuers - 2022.12 vs 2021.12 

Outstanding Credit Card receivables (R$) Brazil
Issuers financial statements and BCB