Released on = July 16, 2007, 3:04 am

Press Release Author = Shushmul Maheshwari

Industry = Financial

Press Release Summary = As per ABECS, the sale of debit and credit cards in Brazil
rose by 20% in May 2007 compared to May 2006.

Press Release Body = Sale of debit and credit cards in Brazil touched US$ 12.4
Billion in May 2007 an increase of 20% over May 2006, reports Brazilian Association
of Credit Card Companies and Services (ABECS).

Volume of sales in the month of May 2007 rose by 7% as compared to May 2006. Volume
of sales for credit cards grew by 19% annually to 15.0bn reais. Credit card demand
(both corporate as well as individual credit) is also increasing rapidly. A strong
and better macroeconomic environment fuels market for credit card in Brazil, both
consumer as well as commercial credit is rising rapidly.

In the corresponding period volume of sales of debit card also grew by 26% to 6.60bn
reais. Private label volume of sales grew by 15% to 2.30bn reais in the month of May
2007. People use debit cards in Brazil quite frequently for making small daily
purchases, since they are inexpensive compared to cheques as well as hassle free.

Purchase costs to debit credit as well as private label cards touched 400 Million in
May 2007, a rise of 16% over May 2006 and the maximum ever since December 2006.
Brazil is amongst the largest as well as fastest growing markets for credit in Latin
America. Over the last three years, entire user credit outstanding grew 30% on a
compound yearly basis, fueled by rapidly rising household disposable incomes.

RNCOS’ recent report “Opportunities in Brazil Banking Sector” also
stated the rise in use of debit and credit cards. As per the report, use of credit
cards as well as debit cards in Brazil is increasing with appreciable growth rate.
During the period 2000 to 2006, the number of transactions by credit and debit cards
increased at a CAGR of 21.61% and 41.21% respectively to reach the corresponding
values of around 2284 Million and 1633 Million by 2006 end.

The report also attributed increase in per head disposable income of Brazilians as
well as the country’s growing economy as the major factors responsible for
driving banking industry in Barzil.

This research report also addressed some other interesting issues and facts which
are critical for the success in Brazilian banking industry like the position of
Brazil banking industry with respect to the world and Latin America banking
industry, the future outlook of the industry in terms of bank deposits, bank loans
and bank assets, as well as various opportunities and challenges of this industry.

About RNCOS E-Services Pvt Ltd.:

RNCOS, incorporated in the year 2002, is an industry research firm. It has a team of
industry experts who analyze data collected from credible sources. They provide
industry insights and analysis that helps corporations to take timely and accurate
business decision in today\'s globally competitive environment.

For more information visit: http://www.rncos.com/Report/IM523.htm
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Web Site = http://www.rncos.com

Contact Details = RNCOS E-Services Pvt Ltd.
Shushmul Maheshwari
Head of Business Development
29, 1st Floor, Patparganj Industrial Area, Delhi 92
91-11-4214-1229
info@rncos.com