With the exchange volatility experienced in March, the makers kept the caution and chose to borrow in pesos. In this framework, loans in pesos grew strong.
In March, the dollar loan growth He began to show signs of moderation, influenced by the expectations of a possible variation in the exchange rate value. According to a report, the total balance of foreign currency credits reached US $ s14,307 millionwhich represents a monthly increase in 2.4%while year -on -year growth remains elevated, with a 190.3% jump. These data represent a moderation with respect to previous months.
However, despite this robust annual growth, the report highlights that The rhythm of placements slowed over previous months. “The expectations of a possible change in the value of the dollar stopped the growth of foreign currency indebtedness and revived the preference for the national currency,” said Guillermo Barbero, partner of Cruz Capital Group.
This brake was more clearly observed in the head of credit cards in dollars, where the balance at March 31 was $ S s623 millionmarking a monthly decline of the 19.9%although with an interannual rise in 80.1%. According to the report, this variation reflects a stabilization in the use of shopping cards abroad, with more volatile monthly behavior.
5 dollars
As for the Detail by linesit is observed that the 77.5% of the total debt in dollars corresponds to commercial loanswhich remain the main engine of the operation in foreign currency. These commercial credits grew a 3.9% in the month and accumulate a rise of 218.2% year -on -yearalthough they also show some deceleration compared to previous growth rhythms.
Credits: What happened in other lines
In March, loans in pesos to the private sector reached $ 64.6 billion, with a monthly increase of 6.9% and an interannual rise of 221.3% in nominal terms. Adjusted for inflation, the growth was 4.2% monthly and 108.7% annual, according to estimates based on an CPI of 2.6% monthly and 54% year -on -year.
The rebound in local currency financing is associated with caution against the dollar, What stopped currency indebtedness and strengthened the preference for weight, according to Guillermo Barbero, partner of First Capital Group.
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Personal loans: They lead growth with a monthly rise of 9.4% and 450.2% year -on -year (257.3% real), accumulating $ 13.7 billion.
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Commercial loans: 7.4% monthly and 181.9% year -on -year (83.1% real) grew, reaching $ 23.2 billion.
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Credit cards: they totaled $ 17.4 billion, with a rise of 4.3% monthly and 167% year -on -year (73.4% real).
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PREDIAN CREDITS: They registered a balance of $ 3.8 billion, with an annual growth of 251.8% nominal and 128.5% real.
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Mortgage credits: 13.2% grew in the month, with an annual increase of 340.5% nominal and 186.1% real, being the highest monthly growth segment.
Source: Ambito
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