In the first half of the year, the pace of business banking slowed down: 14,000 CUITs were deregistered

Interbanking reported that in the first half of the year the net growth of new banked companies slowed by half through its platform, compared to the same period in 2023. Increases were highlighted in the areas of financial services, mining and communications.

Through its 5th edition of its half-yearly report, the leading B2B digital treasury company Interbanking reported that between January and June, 19,529 new legal CUITs were registered in the banking system, although 14,002 cancellations were also recorded, mainly within the construction sector. Thus, The net balance was 5,527, when in 2023 it had been 10,919.

For its part, the number of accounts per company continued to increase: while in June 2020 an average of 6.4 accounts per company was recorded, during the first half of 2024 a average of 8.1.

“We know that 2024 is being a difficult year for the Argentine economy. Through the index we observe that the number of companies that were incorporated this year was lower than in the second half of 2023, but in any case, the balance between the deregistrations and the registrations represented a net result of more than 5,500 banked companies during the first half of 2024,” he said. Sebastian BottcherChief Commercial Officer of Interbanking.

The activity of financial services represented 20% of the total amounts transferred, and the data showed a 302% year-on-year increase. Two other items that represented a large growth in terms of the amounts transferred are: information and communication and the miningwith a growth of 344% and 315% in the last year.

At the regional level, the largest increases in amounts were verified in La Pampa, Cordoba, Salta and the City of Buenos AiresAs for the number of banked companies, the main increases were seen in the northwest of the country.

“Year after year we see that Companies are increasingly diversifying their financial management“That is, they have more and more accounts and banks, and that is why we focus on generating products and services to facilitate these tasks: an investment platform, a special solution for salary management, and customized APIs for each organization,” added Böttcher.

At the moment, 85% of the country’s large companies use Interbanking to manage your finances and your various accounts in different banks.

The Interbanking Index, published every six months, is carried out on legal CUITs, which means that It does not include individuals, self-employed workers and freelancersFor its analysis, it has a statistical model that considers more than 20 variables, including data enriched by bureaus.

Within the digital ecosystem of Interbanking, entities can manage their multi-bank accounts from one place.and access administrative services such as payroll, invoicing, and check management, payments and collections from the same digital ecosystem. In addition, they can link their own management systems through the company’s API package, and connect with all the banks in the country.