Financial Inclusion Report

Executive summary

– In the second quarter of 2026, the digital infrastructure was characterized by a high level of access to remote electronic channels, as 7 out of 10 people with a bank account had registered a user to operate via online banking (home banking), mobile banking, or an e-wallet.

– The number of individuals with accounts rose to 38.1 million in June 2026, resulting in a half-year increase of 300,000 people. Both the simultaneous holding of bank accounts and payment accounts—which reached 76.5% of account holders (1.1 million more people)—and the holding of foreign-currency accounts—which reached 65% of account holders (1.3 million more individuals)—increased further. In this context, the number of accounts per person continued to rise, with 10 million people opening new accounts during the half-year, even though they already had at least one as of end-2025.

– Electronic payments continued to expand, reflected both in the increase in the number of users and in the higher number of transactions. In the first half of 2026, more than 2 million people joined electronic payments compared with the same period in 2025. Likewise, each adult made an average of 32.8 electronic payments per month, 15% more than a year earlier. Instant payments, which bring together transfers and transfer-based payments, drove the growth in electronic payments, while debit- and credit-card payments declined.

– The increase in electronic payments was accompanied by a decline in cash withdrawals, which reached historic lows. In the first half of 2026, each adult made an average of 1.3 withdrawals per month, 33% less than a year earlier, while the monthly amount withdrawn per adult fell by 14% in real terms.

– In June 2026, the stock of individuals’ savings and investment increased by 3.7% year-on-year, although it contracted by 5.1% during the first half of the year. Over this latter period, the stock shifted from liquid balances toward interest-bearing instruments (both in pesos and in foreign currency), except for peso time deposits, which declined. Nevertheless, foreign-currency account balances continued to rank as the main savings instrument, with a 26% share, while mutual funds—and in particular money market funds (FCD)—continued to gain weight among savings alternatives. As a reference for this product’s coverage, the number of payment accounts with balances invested in FCD increased from 26.5 to 28.9 million in the first half of 2026.

– The number of individuals with credit stood at 20.5 million as of June 2026, representing population coverage of 55.2%, up 0.3 pp compared with December 2025. In turn, the average balance per debtor rose to $4.6 million at constant June 2026 prices, implying a 2% decline during the first half of the year. This showed a change in the credit expansion dynamics prevailing since mid-2024, when both variables were growing simultaneously. The net addition of new debtors was concentrated mainly in personal loans and, to a lesser extent, in secured credit.

– Financing for MSMEs showed improvements during the first half of 2026. On the one hand, 75.4% of companies with an MSME certificate had some type of financing in June 2026, an increase of 0.8 pp compared with December 2025. On the other hand, financing balances reached an all-time high at $60.5 trillion, resulting in half-year growth of 2.2%.