The personal loans grow in the Argentina next to the inflationgiven the needs of the people to face a increasing demand for pesos to acquire goods and servicesaccording to a private report.
According to the survey, in March he increase in personal loans is very close to expected inflation, indicating a upturn in placements.
The line of personal loans continues to grow and registered a monthly growth of 6.6%keeping a Historic series of nominal increases that has been running for 32 months in a row.
In Marchthe balance rose to $1,255,056 million for the cumulative total, presenting a year-on-year growth of 65.3%against $759,280 million at the end of the same month of the previous year, values that are below inflation for the period.
william barberpartner of First Capital Groupexplained that “this month the variation in the balances is very close to the expected inflationindicating a rebound in placements and ending what we called the ‘low season’ for the item”.
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On the other hand, the total balance of loans in pesos to the private sector reached the $8,183,228 million in Marchwith a up from 78.3% year-on-year and 7.9% compared to the previous month, a value that is estimated to be above expected inflation, according to a report prepared by First Capital Group based on data provided by the central bank.
seasonal fluctuations
Barbero also explained that there was a low season in the request of personal loans which is due to influence of the complementary annual salary that is received in December and the holidays during January and February, which reduce the financing needs on the one hand and restrict the offer on the other.
After that period, the loans in March returned to pick up your number of requests. These types of loans are a widely used tool to cover unforeseen expenses, pay debts or invest on some personal project.
Source: Ambito
