2018.02.1615:41:00UTC+00ARGENTINA: Credit To The Private Sector Grew 22% In 2017

The credit to the Argentinean private sector rose by 22% in 2017, adjusted by inflation, marking the highest annual growth in a decade, reported the South American country's central bank.

In 2017, loans to families increased 22.6% in real terms, while those channeled to companies expanded 20.8%, in both cases over the previous year.

On a monthly basis, financing to the private sector in December 2017 increased 2.5% over November, said the Argentinean monetary authority.

According to the central bank, loans to the private sector reached 14.3% of the Gross Domestic Product (GDP) at the end of 2017, growing 2.4 percentage points (pp) compared to the previous year, recording the highest ratio in 16 years.

The report highlights that throughout 2017 the accumulated earnings of the financial system were equivalent to 3% of assets (ROA), or 25.8% of net worth (ROE), both at the lowest level in five years.