Interest rates on Ahora plans are likely to increase in the short-to-medium term as Argentina’s long running problems with high inflation continue to be exacerbated by the combined impact of the global recovery from the pandemic and Russia’s invasion of Ukraine. At the same time, it is likely banks will remain slow to raise spending limits on credit cards so as to discourage the use of these instruments for Ahora purchases, which offer limited profitability in comparison to other types of lending.
With the well-established trend towards the digitisation of Argentina’s financial system having been accelerated by the pandemic, fintech companies are set to remain among the most dynamic and innovative players in consumer credit over the forecast period. In particular, it is expected they will continue to gain ground in the provision of credit facilities to individuals who have difficulty obtaining financing from more conventional sources because they are unbanked, in informal employment or have a poor credit history.
While gross auto lending is projected to increase strongly in current value terms throughout the forecast period, growth will be skewed by persistently high inflation in Argentina. Actual demand for car loans looks set to remain relatively subdued for some time, partly because pressure on global supply chains arising from shortages of essential components – particularly microchips – and other pandemic-related factors will continue to limit the availability and drive up the cost of both new and second-hand vehicles.
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Understand the latest market trends and future growth opportunities for the Consumer Credit industry in Argentina with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
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Non-mortgage consumer debt extended to individuals for personal or household use including installment loans and credit cards. Examples of consumer credit include auto lending, card lending, durables lending, education lending, home lending and other personal loans. Consumer credit includes both revolving and non-revolving credit.See All of Our Definitions
This report originates from Passport, our Consumer Credit research and analysis database.
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