Saturday , October 16 2021

Loans for the private sector started in December in the fall

"After growing just 0.3% in November, loans to the private sector in pesos show a 0.3% decline for the December partial," he said. Joaquín Berro Madero, Economist of the Institute of Studies on the Argentine and Latin American Reality (IERAL).

In his analysis, he indicated that the lines of loans most affected were those related to consumption -Personal and with card-, which fall 0.3% in the first case and -1.4% in the second.

On the other hand, private deposits in pesos went from 4.3% in November to 7.3% in December.

"With data up to December 17, loans to the private sector in pesos reflect a slight month-on-month decline, which is verified in all lines, although it is a little more intense in those related to consumption. 2018, "said the expert.

Instead "Private sector peso deposits continue to grow at a faster pace this month driven by demand deposits."

Partial December data showed a fall of -0.3% for peso loans to the private sector, after practically zero growth in November (0.1%).

In detail, the most affected finances in December are those related to consumption in pesos (Personal Card and Credit Card), which represent approximately half of the total portfolio in that currency and post a deceleration of -0.8% thereafter. grow only 0.5% in November.

On the one hand, Personal loans confirm a decrease of 0.3% in November, to -0.3% in December; always in nominal terms, from end to end.

While "credit card financing in pesos went from growing 1.3% in November to falling -1.4% in December."

Likewise, "Business lines – current account debits, single signature documents, purchased and discounted documents, etc. – which represent approximately 30% of the total portfolio in pesos, grow only 0.2% in December after hiring. 0.5% in November, taking the signal after two consecutive months of setbacks, "said the report's author.

Source link