The pledge loans, in marked a new record in January 2022, with a growth of 5.4% compared to the previous month. As revealed by a First Capital Group report, the balance of the portfolio at the end of January was $250,822 million, growing 123.2% compared to the same month in 2021 ($112,372 million).).
In relation to year-on-year inflation, the line of credits significantly exceeded it, occupying the first place in growth among the lines of loans and consolidating itself as the great winner of the year.
UVA mortgaged warned that a wave of auctions is coming if a solution does not appear
“Within the moderate tone that has marked the activity of the month, the dynamism presented by the pledgees stands out, still in a month with closures derived from the Ómicron variant”, explained Guillermo Barbero, partner of First Capital Group.
The total balance of loans in pesos to the private sector reached a level of $4,262,217 million, representing a rise in the last 365 days of $1,406,802 million, equivalent to an increase of 49.3% per year. During January 2022, growth has been $58,045 million, which represents 1.4%, below the expected inflation for this period.
The report highlights that the line of personal loans grew by 3.1% monthly, chaining its twentieth consecutive rise. The balance rose to $696,696 million for the accumulated total, presenting a year-on-year growth in nominal terms of 53.5%, against $453,937 million at the end of the same month of the previous year.
“This line shows the typical slowdown of the holiday months but managed to maintain a monthly growth close to inflation estimated for this period”, assured Guillermo Barbero.
Mortgage credits
As to mortgage lines of credit, including those adjustable for inflation/UVA, during January grew 1.7% with respect to the stock of $287,686 million from the previous month, accumulating a total balance at closing of $292,450 million and a year-on-year rise of 33.6% in nominal terms.
“At a lower rate, mortgages said present in nominal terms this month, although they will surely mark a fall in values adjusted for inflation,” explained Barbero.
Banks will subsidize UVA mortgage loan installments that exceed 35% of income
business loans
In relation to commercial loans, this line increased its balance by 1.5% compared to what was observed last month, placing it with a portfolio stock of $1,467,981 million. In this way, it continues with the nominal rise since May. Compared to the same month of the previous year, the rise is 54.7%, in line with inflation for the period.
“After a four-month period of real increases in commercial financing, which heralded a recovery in the economy, we find ourselves with a pause that may be caused by the cycle of retail activity, the aforementioned Omicron variant and its influence on the absenteeism and rising interest rates. We will have to closely follow the evolution of the successive months to determine if this month has been a pause or a change in trend”, Barber concluded.
What are collateral loans
A pledge loan consists of leaving an asset in a financial institution in exchange for receiving a loan, that is, a credit granted by a banking institution that authorize a loan to a client, who delivers as guarantee of payment an asset whose value is similar to the amount of money lent.
Then the client undertakes to repay the borrowed money with their respective interests within a certain period and in the event that the borrower does not comply with the established payments, he will have lost the good that he has left as warranty.
The requirements to access one of these credits is to be over 18 years old, have a DNI, provide proof of address, such as a bill for electricity, water, etc., a salary receipt to verify minimum income. Lastly, and very importantly, have a valuable asset that you can leave as a guarantee of payment.
SR /LM
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