In the days of roaring inflation, high in-terest rates and reckless public spending, Brazil's banks never tried hard to attract customers: they made easier profits investing in government bonds. But, since the 1994 real plan, interest rates have fallen and the government has brought borrowing under control. Analysts predicted that banks would, sooner or later, have to return to their core business—and, in particular, to take more interest in the 80% of Brazilians who have no bank account.
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