7:09 ET - Brazil development bank's corporate lending remains far below prior-year levels amid government efforts to improve its fiscal situation and as demand remains weak amid an economic recession. In 12 months through November, total loans were down 33% at BRL95.6B ($28.5B). After a controversial push to expand BNDES in recent years, the government changed course due to a lack of funding to support the bank's growth. Also, with country's economy expected to contract 3.5% this year, companies show little appetite for new loans, despite low interest rates, compared with commercial banks. (firstname.lastname@example.org)
(END) Dow Jones Newswires
December 21, 2016 07:24 ET (12:24 GMT)
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