Non-Financial Credit Providers Granted More Than ARS15 Million Credit Products

The total number of credit products granted by non-financial credit providers (proveedores no financieros de crédito, PNFCs) hit a high of 15.2 million in June 2023, up 3.2% against December 2022, according to the report on PNFCs released today by the BCRA.

Moreover, 10.6 million persons had credit products from PNFCs in June 2023, up 4% compared to the end of 2022 and up 8% y.o.y. Particularly, there was a raise in the number of persons with credit products from PNFCs only (190 thousand persons) and in the number of persons that borrowed funds from financial institutions (225 thousand persons). Such increase was explained by the fintech group, which grew its customer base by around 550 thousand in the first half of 2023, thus channeling credit products to around 5 million customers.

Sorted out by gender, the ratio of women/financing reached a record high and virtually equaled that of men, which in turn fell to a historic low of 50.3% at the end of the first half of 2023.

Other highlights of the report on PNFCs:

The positive performance indicators for the number of credit products were mainly boosted by personal loans, which amounted to 8.5 million in June 2023 (up 5.2% in the first half of 2023).

The average annual percentage rate of credit card financing by non-bank credit card issuers (emisoras de tarjetas de crédito no bancarias, ETCNBs) remained stable during the first half of 2023, standing at 101% in June 2023, as a result of the impact of the measures adopted by the BCRA.

By the end of the first half of 2023, 30% of the adult population at a national level had credit products from a PNFC. In terms of debtors’ geographical distribution, the largest share of persons with financing belonged to the Province of Buenos Aires (33%), followed by Córdoba (9%) and Santa Fe (7%).

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December 1, 2023