The sector hopes that the use of the new program of the Ministry of Commerce will allow the card portfolio to be recovered.
In January purchases with credit card recorded a movement of $5,966,247 million, which means a nominal 11.1% increase compared to December. However, this increase is below the inflation values expected for this period, as highlighted in a report by First Capital Group.
The analysis analyzes the year-on-year growth of credit card operations and states that the behavior “It’s similar”. “We are witnessing year-on-year increases of 160.7%, once again remaining below the estimated inflation levels for the year, consequently showing a decrease in real terms,” they added.
“It is expected that the use of the “simple quota” program, which replaces the “Now 6, 12, 18 etc.” programs, will allow recover card wallet. The rise in product values is faster than the income of cardholders and, consequently, than the updates of the lcredit limitsfor this reason the growth in real terms of the portfolio is difficult,” explained Guillermo Barbero, partner at FCG.
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Credit cards: how was the performance in dollars
Purchases in dollars with credit cards had a year-on-year increase of 29.5%, although with a behavior irregular monthly alternating ups and downs. In January there was an increase of 17.8% compared to the previous month, registering a total of US$338 million. “A significant growth in the balance is observed despite the fact that the exchange rate to be applied plus taxes are not convenient for card users abroad. Normalization of the exchange rate plus taxes should be a priority so as not to harm consumers”, he concluded.
Source: Ambito
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