In parallel, growth in dollars, although more volatile, shows reactivation signs linked to specific factors such as flexibility of the exchange market and the thrust of the agricultural sector.
Operations with Credit cards in pesos They registered a nominal rise of 7.1% monthly, the balance reached $ 18.7 billion for the accumulated total, presenting an interannual growth of 158.6%, against the $ 7.2 billion at the end of the same month of the previous year. As for real variations, The growth of the month reached 4.1% and the annual 75.4%.
¨ The dynamism observed in consumption with credit cards in pesos reflects the impact of inflation on spending patterns, encouraging the use of quotas with and without interest as a financing mechanism. However, it should be noted that this item is growing at a lower rate than personal loans, a trend that has led both credit instruments to reach equivalent levels in terms of operated volume, he explained Guillermo BarberoParty of First Capital Group.
In parallel, operations in dollars showed positive but more volatile behavior. The balance financed in foreign currency reached US $ 744 million in April, marking an increase of 19.4% monthly and 76.7% year -on -year. This evolution was accompanied by greater flexibility in change operations, which facilitated both purchases abroad and local transactions in dollars. Likewise, there was a strong increase in the appropriate loans called in dollars, mainly associated with the acquisition of agricultural machinery. The information follows from a First Capital Group report.
Consumption in pesos recovers strongly
“The credit card market in pesos consolidates its central role in consumption financing, with a sustained demand that responds to both financing needs and purchase strategies against the inflation scenario,” said Guillermo Barbero, an analyst of the sector. “In dollars, although we observe specific recoveries, the dynamic remains more irregular and subject to external factors,” he added.
April data confirm the upward trend in consumption financed through credit cards, particularly in pesos, where the growth rate is maintained both in nominal and real terms. For the coming months, this line is expected to remain as the main engine of consumer credit, while dollars will continue to show an evolution linked to the conditions of the exchange market and the activity of specific sectors such as agricultural sectors.
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The comparison of the last 3 months (February, March and April) shows a progressive recovery in consumption with credit cards in pesos, exceeding the initial fluctuations. While February registered a modest nominal growth of 1% (16.7billones), driven by extensions of credit limits and educational promotions. This impulse was consolidated in April with an outstanding 7.1% monthly increase ($ 18.7 billion) and 75.4% annual real growth, evidencing how the sector recovered dynamism after postvacational lethargy, although at a lower rate than other credit instruments.
“Growth in pesos reflects a real recovery since March, promoted by commercial strategies of the banks and the inflationary effect on consumption. In dollars, despite monthly volatility, exchange liberalization and agricultural demand are dynamizing the segment,” said Guillermo Barbero.
Source: Ambito
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