“This data marks its importance from the point of view of financial inclusion,” the BCRA said in a statement.
The Opnfc are a heterogeneous group of companies made up of cooperatives and mutuals, companies that sell household appliances and fintechs, among others, which, since October 2020, had to be registered by BCRA regulations and comply with provisions that grant greater protection to people who use their financial services.
According to the same report, the irregularity of the credit portfolio of the Opnfc, removing the assistance for credit cards, fell 15 percentage points in the year-on-year comparison, which is mainly explained by the increase in financing granted by issuers of credit cards and / or non-bank purchases and, secondarily, by fintech companies.
Other conclusions of the report show that the average annual nominal interest rate at which companies lent was 93% in June 2021, an average interest rate higher than that reported for personal loans by the financial system, which is around the 53%.
Regarding access by gender, Financed women accounted for almost half of total Opnfc clients in June 2021 (49%), but they are the ones with less irregularity throughout the entire period (26% vs. 31% in June 2021) compared to men
“Among the group of women, the number of debtors without a salary account is more significant, in relative terms, than in the case of men. Thus, women without a salary account, probably affected by a lower participation in the formal labor market, represent the most significant group in percentage terms that receives financing from Opnfc, “the report detailed.
Finally, the number of people financed by the Opnfc who do not have a salary account exceeds those who do (1,659,009 vs. 1,551,561) and it is observed that the financing received by them represented the majority of the total balance for the period until May 2021.
Source From: Ambito
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