The total balance of loans in pesos reached a level of $14.70 billion, which represented a year-on-year increase of $8.30 billion (131.2%) and a monthly increase of $1.87 billion (14.5%).
He The total balance of loans in pesos to the private sector reached a level of $14.70 billion in Octoberwhich represented an interannual increase of $8.30 billion (131.2%) and a monthly increase of $1.87 billion (14.5%). This is due to a credit recovery in almost all segmentsaccording to a report by First Capital Group (FCG).
In October, commercial loans increased 14% to $5,832,658 million, with a year-on-year increase of 155.8%, clearly exceeding the CPI values expected for this period, the work indicated.“The most active commercial period begins for an important segment of our market and that pushes merchandise inventories up.with the consequent need for financing”, explained Guillermo Barbero, partner of FCG
Operations through credit cards recorded a balance of $4,622,876 millionwhich means an increase of 20% compared to the end of last month, and a year-on-year growth of 146%. “The current rates established by the BCRA for this instrument, although they are at a high level, are below those that the market would set“The same circumstance occurs with the interest-bearing installment programs of “Now 12″, which constitutes an incentive for the use of plastic,” Barbero said.
The collateral credit line has a balance of $857,130 million, growing 99.5% year-on-year and a monthly increase of 9.3%, accumulating more than two years of consecutive monthly nominal increases. And mortgage credit lines, including those adjustable for inflation/UVA, had an increase of 9.0%, accumulating a balance of $543,790 million and a year-on-year increase of 48.3%.
“In real values, the portfolio is declining a little this month and notably over the last year, but it remains remarkably valid in times of financial crisis like the one we are going through”, indicated the FCG partner. Meanwhile, credit cards registered a monthly increase of 8.1% and a year-on-year increase of 20.5%. “As a result of the rise in the price of the currency in the informal markets, which most consumers access, it was convenient for travelers to use plastic instead of other alternatives; these circumstances are very temporary and promote non-profit benefits. desired for certain sectors of the population,” he noted.
For its part, the personal loan line increased 7.1% monthly, up to $1,808,574 million, with a growth of 82.7% year-on-year. “If we take into account the values adjusted for inflation, this will be a new month of decline for financing to families, confirming the annual decline that has been showing; “It has remained the only line with a decrease in real terms for the month”he claimed.
As to loans in dollars, compared to last month, the total amount was US$3,753 million, with a variation of 1.9% positive and one year-on-year increase of 4.1%.
Source: Ambito
