Wednesday, January 19

Loans to private companies registered their highest growth in November in almost a year and a half


Regarding loans to SMEs, the BCRA highlighted that at the end of November almost 200,000 companies benefited from the disbursement of more than $ 1.3 trillion in respect of the Financing Line for Productive Investment (LFIP).

Compared to the previous month, this line showed an increase of 13%. 84% of the total disbursed so far has been used to finance working capital and the rest to the line that finances investment projects.

In parallel, the pledge loans they maintained their upward trend, showing a monthly rise of 4.8%. Also grew by 1.4% the personal loans, for which there was a drop of 1.1 percentage points in the interest rate, which was below 52%.

Monetary aggregates and fixed terms

On the side of time deposits, a monthly drop of 2% was observed in those nominated in pesos and of almost 5% in those nominated in UVA (indexed to inflation).

This decline was driven by the withdrawal of longer-term loans, which could not be offset by higher loans with an early cancellation option.

In parallel, payment methods (currency held by the public + demand deposits), had a rise of 0.8%, caused by an increase in currency.

According to the BCRA, the entry of sections of joint members into wide-ranging unions and the monthly supplement for the Family Salary by ANSES were two factors that contributed to this behavior.

In short, the broad monetary aggregate (means of payment + fixed terms) increased 1.8% in real terms.

Meanwhile, the Monetary base it was located at more than $ 3.1 trillion, which implied a slight increase adjusting for seasonality and expected inflation. In terms of GDP, the Monetary Base was located at 6.2%, a value similar to that of the end of 2019.



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