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5mo ago

Argentina’s Household Credit Shifts: Non‑Bank Lending Jumps as Banks Tighten Mortgages

Funding limits at banks are narrowing mortgage access.

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El crédito hipotecario reconfigura el acceso a la vivienda, con tasas, plazos y capacidad de pago como variables centrales en la decisión de compra de una casa
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Una entidad financiera volvió a ofrecer líneas de créditos hipotecarios pero con tasas más altas que las que tenía antes de pausarlos

Overview

  • Latest BCRA data compiled by EcoGo show non‑bank consumer credit at about $13.15 trillion pesos in December 2025, equal to 24.4% of consumer loans after a 1.2% real monthly rise and a 142% real increase since March 2024.
  • Delinquency in the non‑bank segment reached 22.8% in December, with the market highly concentrated as Naranja X and Mercado Pago account for roughly 52.7% of the stock.
  • The burden of these loans is heavy for households, with non‑bank credit equal to about 34% of monthly payroll and total household debt, including bank loans, reaching roughly 143% of income.
  • Mortgage activity remained elevated in 2025 with an estimated 44,305 loans, but banks have since raised scoring thresholds and repriced UVA products, as seen in Banco Ciudad’s relaunch at a 12.5% general rate and 9% in designated areas.
  • Rate and access gaps are widening across lenders, with Banco Nación offering a 6% TNA, BBVA’s 7.5% available only to high‑income preferred clients, several banks lifting rates into double digits up to about 17%, and minimum income requirements commonly in the seven‑figure peso range.