While the total balance of loans in pesos to the private sector reached a level of $4,262,217 million, representing an increase in the last 365 days of $1,406,802 million, equivalent to an annual increase of 49.3%, values that they are very close to the inflation of the period, if we compare values year by year and taking into account that we still do not have the indices corresponding to the analyzed month. During January 2022, growth was $58,045 million, which represents 1.4%, below the expected inflation for this period.
Personal loans
The line of personal loans grew by 3.1% monthly, chaining its twentieth consecutive rise. The balance rose to $696,696 million for the accumulated total, presenting a year-on-year growth in nominal terms of 53.5%, against $453,937 million at the end of the same month of the previous year. “This line shows the typical deceleration of the vacation months but managed to maintain a monthly growth close to the estimated inflation for this period,” said Guillermo Barbero.
Mortgage credits
Regarding mortgage credit lines, including those adjusted for inflation/UVA, during January they grew 1.7% with respect to the stock of $287,686 million from the previous month, accumulating a total balance at closing of $292,450 million and a year-on-year increase of 33.6% in nominal terms. “At a slower rate, mortgages said present in nominal terms this month, although they will surely mark a fall in values adjusted for inflation,” he explained.
business loans
This line increased its balance by 1.5% compared to what was observed last month, placing it with a portfolio stock of $1,467,981 million, continuing with the nominal rise since May, these values surely show a variation in negative terms with respect to inflation for the month.
Compared to the same month of the previous year, the increase is 54.7%, in line with inflation for the period. “After a four-month period of real increases in commercial financing, which heralded a recovery in the economy, we find ourselves with a pause that may be caused by the cycle of retail activity, the aforementioned “Omicrom” variant and its influence on labor absenteeism and the rise in interest rates. We will have to closely follow the evolution of the successive months to determine if this month has been a pause or a change in trend”, concluded Barbero.
Source: Ambito
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