Unbanked population change in Latin America by country

In 2020, after the introduction of various social benefit programs during the COVID-19 pandemic, there was an overall decrease in the unbanked population throughout Latin America. Brazil exhibited the largest change, with a significant decrease of 73 percent. Although experiencing less change, the trend remained true for Argentina and Colombia, with a reduction of 18 percent and eight percent, respectively.

Change in unbanked population due to the COVID-19 pandemic in selected countries in Latin America in 2020

Characteristic	Growth rate
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Release date

October 2020

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Region

Brazil

Survey time period

2020

Supplementary notes

The source adds the following information "the research for this report took place between June and August 2020, focusing on Brazil, Mexico, Argentina and Colombia. It consisted of an intensive review of data made available by governments and financial institutions, as well as in-depth interviews with 18 financial service providers, including the most relevant traditional banks and neobanks/fintechs".

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