Central Bank initiatives are enabling Brazil's low-earning citizens to access banking services. Jonathan Wheatley reports from Sao Paulo on the benefits for both local communities and the financial institutions that cater for them. Standing in line at a kiosk in Vila Nivi on the northern outskirts of Sao Paulo, Sandra, a 38-year-old mother of four, is upset. "I've been waiting 40 days for my bank card," she says. "I've come here every day to complain." Yet, despite the delay, Sandra is delighted to have opened an account at Banco Popular do Brasil, a new subsidiary of government-owned Banco do Brasil. Like millions of low income earners in Brazil, Sandra makes her living in the so-called informal economy. She buys clothes at the wholesale markets in the far-away Bras neighbourhood near the centre of Sao Paulo and sells to her private clientele.
展开▼
