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
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Growth rate
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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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MasterCard. (October 12, 2020). Change in unbanked population due to the COVID-19 pandemic in selected countries in Latin America in 2020 [Graph]. In Statista. Retrieved July 22, 2024, from https://www.statista.com/statistics/1229094/latin-america-change-unbanked-population/
MasterCard. "Change in unbanked population due to the COVID-19 pandemic in selected countries in Latin America in 2020." Chart. October 12, 2020. Statista. Accessed July 22, 2024. https://www.statista.com/statistics/1229094/latin-america-change-unbanked-population/
MasterCard. (2020). Change in unbanked population due to the COVID-19 pandemic in selected countries in Latin America in 2020. Statista. Statista Inc.. Accessed: July 22, 2024. https://www.statista.com/statistics/1229094/latin-america-change-unbanked-population/
MasterCard. "Change in Unbanked Population Due to The Covid-19 Pandemic in Selected Countries in Latin America in 2020." Statista, Statista Inc., 12 Oct 2020, https://www.statista.com/statistics/1229094/latin-america-change-unbanked-population/
MasterCard, Change in unbanked population due to the COVID-19 pandemic in selected countries in Latin America in 2020 Statista, https://www.statista.com/statistics/1229094/latin-america-change-unbanked-population/ (last visited July 22, 2024)
Change in unbanked population due to the COVID-19 pandemic in selected countries in Latin America in 2020 [Graph], MasterCard, October 12, 2020. [Online]. Available: https://www.statista.com/statistics/1229094/latin-america-change-unbanked-population/
