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Latin Amercia: unbanked population change 2020, by country

Published by Ana María Ríos, Apr 15, 2021
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.

Growth rate of number of unbanked population due to the COVID-19 pandemic in selected countries in Latin America in 2020

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Source

Release date

October 2020

Region

Brazil

Survey time period

as of October 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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