On the other hand, the line personal loans grew 4.2% monthly, and chained its twenty-sixth consecutive rise. The balance rose to $955,170 million and had a year-on-year growth of 63.5%, against $584,135 million at the end of the same month of the previous year.
“The rise in the interest rate causes difficulties for the normal development of the activity: on the one hand, it discourages consumer demand. On the other hand, the Financial Entities find a technical limit in the values to offer to each individual for the following reason: the higher the interest rate, the amount of the installment to be paid increases and it cannot exceed 30/35%. of the monthly income of the fund taker, consequently, the amount borrowed is less than what could have been granted at the existing rate before the rise”, assured Barbero.
In turn, the operation through Credit cards recorded a balance last month of $1,797,127 million, which means an increase of 2.6% compared to August, about $45,857 and well below expected inflation. The year-on-year growth reached 64.8%.
As for the lines mortgage creditsincluding those adjusted for inflation/UVA, during September grew 1.5% with respect to the stock of $357,774 million in the previous month, and accumulated a total balance of $363,183 million and a year-on-year increase of 41.4% in nominal terms.
In relation to the business loans, this line increased its balance by 1.2% compared to what was observed last month, and located a portfolio stock of $2,122,535 million. Compared to the same month of the previous year, the rise is 87.2%, above inflation for the period.
As for the loans in dollarsCompared to last month, the total amount presented a negative variation of 0.5%. Regarding the interannual variation, it presented a decrease of 25%. The stock of loans in dollars is US$3,672 million. 64.19% of the total debt in foreign currency belongs to the commercial line, which fell 33% in the year and decreased 1.7% compared to the previous month.
The Credit cards registered an interannual increase of 140.2%, although with an irregular monthly behavior. In September there was a decrease of 7% compared to the previous month.
loans in general
In September, the total balance of loans in pesos to the private sector reached a level of $6,061,237 million, and represented a rise in the last 365 days of $2,553,639 million., equivalent to an annual increase of 72.8%, values that are very close to inflation for the period. During the last month, September 2022, growth was $148,199 million, which represents 2.5%, approximately one third of the value of expected inflation for this period.
Source: Ambito
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