More than Ten Million Persons Accessed Financing from Non-Financial Credit Providers

The total number of persons that accessed financing from non-financial credit providers (PNFC) continued growing in the second half of 2022 and reached 10.1 million —up 4% against June 2022—, according to the report on PNFCs released today by the BCRA.

Around 216,000 women and 148,000 men explained the increased access to financing in the second half of the year. In turn, women continue to have the largest share, reaching 5.3 million in December 2022, while men totaled 4.8 million.

In turn, the number of credits granted hit a record high of 14.7 million, while the average debt per credit assistance dropped 7% in real terms in the period.

As regards the non-performing portfolio of PNFCs declined against June 2022, going down to 12% last December.

Other highlights of the report on PNFCs:

Number of PNFCs. The number of PNFCs registered with the BCRA amounted to 456 companies in March 2023, up 5 companies against August 2022. In terms of number, 385 companies were recorded as other non-financial credit providers, and 114 companies as non-bank credit card issuers.

Evolution of financing amounts by subgroups of providers. The stock of financing of the different PNFC groups fell in real terms in the second half of 2022, except for Fintech companies, which grew slightly (+2%). The groups of leasing & factoring, cooperatives and mutual associations, other credit providers, other chain business, and sale of electrical appliances posted a decrease of 12%, 11%, 5%, 4% and 3%, respectively.

Number of borrowers sorted out by type of person, gender, and age group. Unlike previous periods, the increased number of borrowers (360,000 persons between June and December 2022) was mainly explained by the growth in the number of natural persons who have also obtained loans from financial institutions. In turn, natural persons (having financing from OPNFCs and financial institutions) posted the highest increase in a six-month period (around 260,000 persons), reaching 4.8 million at the end of December 2022). The number of borrowers increased across all age groups (up to 29 years, between 30 and 64 years, and over 65 years). In particular, the age group between 30 and 64 years grew the most, around 207,000 persons (3% in the second half), and was followed by that up to 29 years, reaching 144,000 persons (7% in the second half).

Stocks of financings by type of person and gender. The number of natural persons with financing from financial institutions continued posting the highest share in the total stock (58% in December 2022), reaching ARS601,5 billion in December 2022.

As regards gender, men and women share in the portfolio of the PNFCs reached ARS300 billion and ARS289 billion, respectively, in December 2022.

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June 16, 2023

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