Mar 19, 2015

• With R$ 68.9 bn, Infrastructure led performance; innovation grew 14%
• Record number of operations with MSMEs – 1.1 million

Disbursements made by the Brazilian Development Bank (BNDES) reached R$ 187.8 billion in 2014, dropping 1% against the R$ 190.4 billion from 2013. The result is keeping with the Bank’s expectations for stabilizing releases. Concerning approvals and inquiries, indicators also show a moderate performance.

Releases last year were led by the infrastructure sector with R$ 68.9 billion. The increase was 11% in the year-on-year comparison (y.o.y). The participation of this sector in the BNDES’ total disbursements in 2014 was 36.7%.

Highlights in infrastructure were highway transport (R$ 21 billion) and electric energy (R$ 19 billion). However, in relative terms, the highest growth was in telecommunications, with releases of R$ 5.3 billion last year, up a whopping 97%.

The performance of micro, small and medium-sized companies (MSME) is also worth mentioning as last year this sector received R$ 59.4 billion in financing from the BNDES. This represents 32% of the Bank’s global disbursements. The volume of operations with small-sized companies was a record, reaching 1.1 million and representing 96.2% of total operations performed. The BNDES Card contributed significantly to this result, as it was used nearly 800,000 operations last year, with record-breaking releases of R$ 11.5 billion.

The year of 2014 was marked by the expressive growth of financing to innovation, with disbursements of R$ 6 billion, recording an increase of 14% if compared to the result from the previous year.

To the industry sector, the BNDES earmarked R$ 50 billion in 2014 (26.7% of the total), with a 14% fall in the performance of 2013. The most significant disbursements were made to transport material (R$ 11.5 billion), chemicals and petro-chemicals (R$ 9.2 billion) as well as foodstuff and beverage (R$ 7.2 billion).

In 2014, total financing approvals of the BNDES reached R$ 204.8 billion, following a drop of 14% against 2013. Still, approvals for the infrastructure sector posted a positive performance with R$ 80.3 billion, up 9%

Likewise, the total number of consultations to the BNDES, in the amount of R$ 236.2 billion, dropped 15% on 2013. This result is partly due to reductions in the BNDES’ PSI program (Investment Maintenance Program), with a lower budget in 2014, and Progeren, which is focused on financing for working capital. However, consultations in the infrastructure sector rose 25% y.o.y, reaching R$ 105.5 billion in 2014.