As for purchases with a credit card in dollars, they had a year-on-year rise of 249.3%. In May there was an increase of 2.8% compared to the previous month. “The reactivation of trips abroad, and some occasional benefits granted by differential exchange rates to cancel consumption with cards, have increased the balances of the last month”Barber assured.
For its part, personal loans grew 3.7% monthly, and posted their 22nd consecutive increase. The balance rose to $821,165 million for the accumulated total, and presented a year-on-year growth of 59%, against $516,567 million at the end of the same month of the previous year.
“Although placements continue at a steady pace, the balances do not increase above inflation, consequently, we obtain a portfolio that in real terms is shrinking month after month as a result of high price indices. The latest rate hikes slow down the demand for new financing, in addition to having higher capital installments plus interest, a limit is placed on the loanable amount as a result of the installment/income ratio,” assured Guillermo Barbero.
Finally, private sector financing with pledge loans increased 134.6%, widely exceeding year-on-year inflation, and ranked first in growth among loan lines. The variation with respect to the balance of the previous month marked a rise of 7.9% and obtained the largest nominal increase of the last twenty-two consecutive monthly rises.
“This has been another great month for placements of garments and it is the only loan item that would remain above inflation during the last months analyzed,” Barbero concluded.
Source: Ambito
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