Report on Non-Financial Credit Providers: Nearly 10 Million People Had Access to Financing in the First Half of the Year

The number of people that had access to financing from non-financial credit providers (proveedores no financieros de crédito, PNFCs) exceeded 9.7 million in June 2022. This is the highest record ever: more than 990,000 people against December 2021, according to the report on PNFCs released every six months by the BCRA.

This report also highlights the increase in access to financing by women (542,000) against men (422,000), access by young people up to 29 years old (550,000) and people between 30 and 64 years old (460,000) compared to people over 65 years old that exhibited small reductions.

The total amount of credit assistance was 14 million, rising 12% in the first half of 2022. In turn, the average debt per credit assistance decreased by 14% in constant terms, amounting to ARS48,700 in June 2022.

The number of exclusive debtors from PNFCs accounted for the positive performance in the period since 5.3 million people were borrowers by June 2022, up 15% against December 2021.

Fintechs expanded their client portfolio by around 1 million people in the first half of 2022. Other relevant data of the report:

Number of PNFCs. The number of PNFCs reached 451 companies in August 2022—16 additions and 10 deletions from the register against March 2022. Other non-financial credit providers (otros proveedores no financieros de crédito, OPNFCs) showed a positive performance in the period, whereas non-bank credit card issuers (emisoras de tarjetas de crédito no bancarias, ETCNBs) exhibited a reduction in the number of companies.

Financing amounts. By the end of June 2022, the stock of financing exceeded ARS681,000 million, down 3% in real terms against December 2021, and up 13% against June 2021. The reduction is mainly explained by the drop in credit card assistance (-5%). Personal loans were the only credit line that exhibited a positive performance (+5%).

Evolution of financing amounts by group of providers. The Fintech group kept on growing in the first half of 2022, expanding their stock of financing by 20% at constant prices against December 2021, and reaching around ARS106,000 million in June 2022. The remaining groups contracted their financing portfolios. Other shops, cooperatives and mutual associations exhibited the greatest reductions.

Non-performance. The non-performance ratio of the credit portfolio of PNFCs remained unchanged at 13% during the first half of 2022, above the level exhibited in the local financial system.

Stocks of financings by type of person. Although exclusive debtors from PNFCs drove most of the inclusion of natural persons with financing, the y.o.y. increase in the stock of financing was boosted by those debtors shared with financial institutions. This way, debtors shared with financial institutions accounted for the largest share of the financing portfolio of PNFCs (59%). In June 2022, adults between 30 and 64 years old having access to financing accounted for 76% of the total stock.

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January 4, 2023

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