The growth would have been even greater if an unprecedented drought had not occurred in 2023, which reduced demand for agricultural machinery throughout the year.
The balance of leasing totaled $174,852 million at the end of September, which represents a 7.8% growth (measured in dollars at the official exchange rate) in the first nine months of the year compared to the same period in 2022, with a default lower than the average of the financial system.
“The impact of the Argentine Credit Program (CreAr), a tool with a subsidized rate promoted by the Minister of Economy, Sergio Massa, and the Secretary of Industry, José Ignacio de Mendiguren, made it possible to maintain the level of investment and the generation of employment with results positives, which are visible”, he pointed Nicolas Scioli, president of Leasing Argentina.
The growth would have been even greater if an unprecedented drought had not occurred in 2023, which reduced demand for agricultural machinery throughout the year.
In fact, The average leasing balance, excluding agricultural machinery operations, grew 9.6% in the first nine months of the year compared to the same period last year.
In the third quarter of this year, financing via Leasing presented a default rate of 1.46% on average, substantially lower than that of the financial system, which stood at 4.08% at the end of August.
Regarding financing for SMEs, The Capita Corporation / Banco Comafi leads the segment with a leasing portfolio assigned to this sector of $15,298 million, an amount that represents 19% of the financing granted to this segment, followed by BBVA, and BICE .
In relation to financing large companies, HPE Financial Service was the leading entity with $25,520 million in portfolio, followed by Banco Supervielle, The Capital / Banco Comafi and Banco Itaú.
Regarding financing to the public sector, Provincia Leasing leads the segment with a balance of $6,704 million, a figure that represents 61% of its portfolio.
Source: Ambito
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