The report details that last month total deposits in the banking system ended at $ 11.05 trillion, which, measured against the end of the previous month, represented a nominal increase of 3.1%. “In year-on-year terms, the growth rate of fundraising was 47.4%,” the report indicates.
Regarding term placements, data from the BCRA they point out that those made “in pesos from the private sector would have completed the third consecutive month with a positive monthly variation rate at constant prices (1.1%) and so far this year they would have accumulated an increase of 7.7% in terms of real ”. “The growth in September would have been higher than in the previous months and returned to focus on deposits of more than $ 20 million,” says the latest monetary report of the entity.
Official data indicate that the return on large placements, the so-called TM20, of private banks was 39.8% last month, around 7 points above that paid to legal entities for investments with an early cancellation option and 3.5 points above the average interest rate of paid demand deposits. On the other hand, according to official data, “deposits of up to $ 1 million continued with the downward trend once adjusted for price evolution.”
BCRA data show that since August companies’ deposits in pesos have been growing, presumably because they exceeded the period of stronger tax and Christmas bonus payments.
The First Capital Group, meanwhile, states that “if total deposits are broken down by type of currency, those nominated in pesos closed the month at $ 9.17 trillion, with a nominal increase of 3.5% and 50% year-on-year” . “As for those nominated in dollars, deposits increased 0.2% compared to the previous month, ending September at US $ 19,079 million, with a year-on-year growth of just 3.7%,” the report indicates.
In this sense, the consulting firm maintains that if the private sector placements in national currency are analyzed exclusively, at the end of the month they increased 2.6% (for a total of $ 176,000 million), at a level of $ 6.95 billion, which represents an evolution 50.2% in year-on-year terms.
The rise in private sector deposits in pesos was also driven by the 53% nominal interannual increase in savings accounts for a total of $ 70.4 billion. In the background appear the traditional fixed terms, with a rise of $ 69,700 million (51%), current accounts, with $ 28,100 million (49%) and deposits with an early cancellation option that grew 47% for a total of $ 15,500 million. In this regard, the BCRA maintains that “the greater preference for shorter-term assets, as is customary in pre-electoral periods, was also reflected in the nominal growth presented by investments with an early cancellation option, after several months of remaining without major changes. ”.
David William is a talented author who has made a name for himself in the world of writing. He is a professional author who writes on a wide range of topics, from general interest to opinion news. David is currently working as a writer at 24 hours worlds where he brings his unique perspective and in-depth research to his articles, making them both informative and engaging.
