Credit Does Not Take Off: with Arrears Rising, Personal Loans and Cards Fell

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Credit to the private sector again showed signs of stagnation during June. According to the latest Monthly Monetary Report of the Central Bank (BCRA), the total stock of loans in pesos grew by just 0.3% in real terms compared to May, driven mainly by financing to companies, while consumption lines recorded a new decline. Loans for families fell by 0.8% in real terms during the month, reflecting a lower demand for financing and a more cautious po…

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Credit to the private sector does not take off despite the fact that interest rates are somewhat more accessible. It showed a scant expansion of just 0.3% during June, according to the Monthly Monetary Report of the Central Bank (BCRA). However, this slight advance was driven by loans to companies, while consumer financing recorded a fall of 0.8% compared to May, reflecting the weakness of the demand for credit by families. The two main tools of…

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Although some interest rates for personal loans appear more accessible than at other times of the year and inflation slows down, in June consumer financing fell again: personal loans and card financing closed with negative numbers, in a banking system that retains high levels of default and little willingness to take on more risk.According to data from the Central Bank, the total stock of loans in pesos to the private sector had a slight increas…

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The private sector’s access to credit continues to show no signs of real recovery. Even though interest rates exhibit more accessible levels and inflation seems to maintain its path of slowdown, the month of June closed with red numbers for the financing of Argentine families. According to...