In 2022, non-bank credit applications increased

A total of 9.7 million people took a loan through fintech companies and other non-bank credit providers until June 2022, almost 1 million more new debtors than in December 2021 (+11.37%), of which the majority were characterized as being women (542,000) and under 29 years of age (550,000).

This impulse can be explained by the performance of the companies financial technologywhose number of debtors grew by 1.07 million since December 2021 (+38%) to June last yearuntil reaching 3.88 million people, so it represents almost 40% of all users of this type of credit.

Fintech for beginners: keys to know what they are and how to use them

According to data from the Central Bank, some 360 ​​companies registered as Other Non-Financial Credit Providers (Opnfc), a group made up of cooperatives and mutuals, home appliance sales companies and fintechsamong others, they granted financing for $681 million up to the middle of last year.

Although the volume of loans fell 3% in real terms compared to December 2021, the report detailed that those granted by fintech increased in the first half of last year until reaching some $106 billion in June 202220% more at constant prices compared to December 2021 and 87% compared to June 2021.

The profile of the debtors

Regarding the age range, those under 29 years of age were the ones that grew the most between December 2021 and July 2022 (+38%), a group that, according to the BCRA, was betraying mainly for the fintech group, which increased 55% number of young debtors in June 2022, reaching more than 1.4 million.

One of the most relevant data was that the exclusive debtors of the Opnfc, that is, those people who do not have access to a loan or a credit card in a bank, are the ones that had the highest growth in the period: 15% compared to December 2021, reaching approximately 5.3 million people in June 2022.

The gender

The report highlights that although men continue to represent the largest percentage of total debt, with 51% in June 2022, more than $319 billion, the participation of women increased by 1 percentage point compared to the end of 2021: It is the highest value that the series began in 2018, with more than $303.3 billion.

Some fintech offer up to 60% annual return on their paid accounts

Among them, women without a salary account were the ones that registered the largest number of debtors with 3.1 million in June 2022, 15% more than in December 2021 and 32 of the total number of debtors.

On the other hand, it is women who show the best payment behavior, having levels of irregularity of 12% in the periodslightly lower compared to December last year and 3 percentage points less than the average for men.


You may also like