All in all, First Capital Group individually analyzed the main lines of loans and their different behaviors.
In the first place, the line of personal loans grew by 3.7% monthly, chaining his twenty-second consecutive increase. The balance rose to $821,165 million for the accumulated total, presenting a year-on-year growth of 59%, against $516,567 million at the end of the same month of the previous year.
“Although placements continue at a steady pace, the balances do not increase above inflation, consequently we obtain a portfolio that in real terms is shrinking month after month as a result of the high price indices. The latest rate hikes slow down the demand for new financing, in addition to having higher capital installments plus interest, a limit is placed on the loanable amount as a result of the installment / income ratio “ assured, Guillermo Barbero, partner of First Capital Group.
On the other hand, the operation through Credit cards recorded a balance of $1,493,430 million, which means an increase of 6.4% compared to the end of last month, about $89,314 million above April and surely a little above the expected inflation for the month. The year-on-year growth reached 49.9%, clearly below the inflation levels of the period. “As we had anticipated last month, the increase in inflation rates motivates a sector of consumers to advance their purchases, especially using “interest-free” installment offers. It was also an incentive for the expansion of the item, the promotions that were offered at the end of the month for sales through electronic commerce’, Barber explained.
As for the lines mortgage creditsincluding those adjustable for inflation/UVA, during May they grew 1.7% with respect to the stock of $315,409 million of the previous month, accumulating a total balance at closing of $320,870 million and a year-on-year increase of 37.6% in nominal terms. “The trend of moderate nominal monthly growth is maintained and below inflation for the period,” continued the First Capital Group analyst.
The one that continues to stand out is the line of pledge loans, which presented a portfolio balance at the end of May of $322,671 million, 134.6% higher versus the portfolio at the end of the same month of 2021 (of $137,515 million), widely exceeding year-on-year inflation, occupying the first place in growth among loan lines and consolidating itself as the great winner of the year.
The variation with respect to the balance of the previous month marked a rise of 7.9% obtaining the largest nominal increase of the last twenty-two consecutive monthly rises. “This has been another great month for placements of garments and it is the only loan item that would remain above inflation during the last months analyzed,” said Barbero.
In relation to the commercial loans, This line increased its balance by 5.6% compared to last month, placing it with a portfolio stock of $1,786,923 millioncontinuing with the nominal rise since last May, these values surely show a slight real variation in positive terms with respect to the expected inflation for the month. Compared to the same month of the previous year, the rise is 95.4%, above inflation for the period. “An increase in real terms is repeated for the second consecutive month, we must take into account that the increase in the level of rates favors the increase in balances through their capitalization and consequently, the greater indebtedness is not a marker of a greater dynamism of the economydeclared from First Capital Group.
credits in dollars
Regarding loans in dollars, compared to last month, the total amount has presented negative variation of 0.3% returning to the negative trend shown since June 2021 interrupted during February 2022. As for the year-on-year variation, it presented a decrease of 32.8%.
The stock of loans in dollars is US$3,743 million. 67.83% of the total debt in foreign currency continues to be the commercial line, which fell 37.9% in the year and 1.5% compared to the previous month. Given the obstacles to obtaining dollars to pay off debts, financing balances continue to decline.
Finallycredit cards for consumption in dollars registered a year-on-year increase of 249.3%, although with an irregular monthly behavior. In May there was an increase of 2.8% compared to the previous month. The reactivation of trips abroad, and some occasional benefits granted by differential exchange rates to cancel consumption with cards, have increased the balances of the last month.
Source: Ambito
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