A pledge credit consists of leaving an asset in a financial institution in exchange for receiving a loan, that is, a credit granted by a banking institution that authorizes a loan to a client, who delivers as guarantee of payment an asset whose value is similar to the amount of money borrowed. Then the client agrees to repay the borrowed money with their respective interests within a certain period and in the event that the borrower does not comply with the established payments, he will have lost the asset that he has left as collateral.
The requirements to access one of these credits is to be over 18 years old, have a DNI, provide proof of address, such as a bill for electricity, water, etc., a salary receipt to verify minimum income. Lastly, and very importantly, have a valuable asset that you can leave as a guarantee of payment.
At the same time, the report detailed that in February, loans to the private sector reached $4,370,164 million, representing a rise in the last 365 days of $1,481,712 million, equivalent to an annual increase of 51.3%, values close to period inflation. During the last month, February 2022, growth has been $107,947 million, which represents 2.5%, below the expected inflation for this period.
Personal loans
Personal loans grew by 4.1% monthly, chaining their twenty-first consecutive rise. The balance rose to $725,017 million for the accumulated total, presenting a year-on-year growth in nominal terms of 54.9%, against $467,959 million at the end of the same month of the previous year. “Despite being a month with few business days, this line recovers the dynamism in its growth. The advancement of the school year has surely influenced the greater placement, the “back to classes” is a moment awaited by the placement agents to increase their portfolios”, explained Guillermo Barbero, Partner of FCG.
Mortgage credits
As for mortgage lines of credit, including those adjusted for inflation/UVA, during February they grew 2.1% with respect to the stock of $292,450 million from the previous month, accumulating a total balance at closing of $298,505 million and a year-on-year increase 34.8% in nominal terms. “This line continues with nominal growth, but fails to catch up with the increase in inflation. For operations that are settled by work certification, it is logical that a month with few working days shows a moderate progress”, he continued.
business loans
In relation to commercial loans, this line increased its balance by 3.4% compared to last month, placing it with a portfolio stock of $1,518,095 million, continuing with the nominal rise since May, These values surely show a variation in negative terms with respect to the inflation of the month. Compared to the same month of the previous year, the rise is 58.7%, in line with inflation for the period. “The increase in the passive rate that the BCRA has ordered in recent months, imposes an increase in the active rate on commercial loans charged by the Banks, for this reason the demand for them is more cautiousBarber said.
dollar loans
Regarding loans in dollars, compared to last month, the total amount has not presented a variation, remaining in the same line, reversing the negative trend shown since June 2021. Regarding the interannual variation, it presented a decrease of 23.6 %. The stock of loans in dollars is US$ 3,865 million. 65.49% of the total debt in foreign currency continues to be the commercial line, which fell 27.5% in the year, 1.7% compared to the previous month. The only reason the global decline in foreign currency borrowing has stopped has been the growth in credit card balances.
Source: Ambito
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