Money grows and some banks begin to take more collections when granting credits. The manager of an entity consulted by Scope He explained that in recent months the exposure to higher risk clients was limited and the universe to which they can offer products were significantly reduced. The strongest restriction appears in personal credits. Sector sources explained that the curve follows closely but that these levels of default are within what is expected by stock growth and do not generate a systemic risk.
“We are getting the stones juice,” said a benchmark of one of the banks with the greatest presence in the country. The reference suggests that in the entity they have to meet certain placement objectives, but the universe they can lend is increasingly limited. In that line, he explained that there are risk groups to which they can no longer offer credits and that the most difficult products to place are salary account and personal loans.
In this last item The delinquency climbed 4.6% in April, the highest level in 20 months according to data from the Central Bank. While in credit cards climbed 3.2%, record in more than three and a half years. For the former vice president of the monetary entity, Jorge Carrerathese data are the sample of a “stress“ in the credit recovery process and links it with the fall of real income and the level of occupation.
According to a First Capital Group report, in June, credit card operations in pesos fell for the second consecutive month. They registered a monthly decrease of 0.9% that is explained centrally by the reduction of financing programs in consumption installments.
No systemic risk
In dialogue with Scopesources in the sector assured that although the matter closely follow, the levels of default “do not surprise.” They relate it directly to the return of credit: “It’s as if there suddenly there were no motorcycles on the street, there would not be accidents either; but if one day the motorcycles come back, accidents come back”explained one of the sources consulted.
In that line, they stressed that default levels are within the expectedso they do not perceive a systemic risk. “In low inflation periods, breach usually raises, many people consume thinking that inflation will liquefy that expense and in this case that did not happen,” said a reference in the sector.
Another of the reasons that mark is the stagnation in the recovery of purchasing power and the increase in Use of the “revolving”: more and more minimum balances that drag and make interests even more.
Rise for individuals
According to a recent report by the LCG consultancy, payments delays were deepened in May and June. “In individuals continue to grow both in credit card and on personal loans. Although for now the default is not high, the dynamics is growing,” they agreed in a public bank.
Beyond the level, Carrera suggested to observe the speed with which the curve moved and said that the jump in delinquency was abrupt. “Within the global data, different variables live, probably in the big banks this is not yet worrying, but in the small or intermediate ones problematic issues may appear, especially those that derive or use mass consumption credit And very expensive rates charge, ”he explained.
Finally, Moody’s put the focus on another of the discussions that is coming: the flexmbilization of dollars. “The default could be pressed by the Risk of coin barefoot”, Warned the qualifier in a recent report. Even so, the government seems to be aimed at deepening those reforms to try to revive the credit that was one of the drivers of economic recovery.
Source: Ambito
