In an economy where signs of stagnation are increasingly evident, several sectors have recorded positive results this year increase your banking level and the volume of transfers made. These are companies in segments associated with export, which are They benefited from the devaluation carried out by Caputo last December.
According to the latest Interbank Index, which measures the degree of use, transactions and banking movements of over half a million businesses in the country, the sectors that showed the greatest growth in the first two months of 2024 were those of mining, manufacturing and commercial and whose volumes grew well above the inflation of the period.
At the other extreme, the Construction appears to be one of the most affected sectors, as its volumes only grew 154% year-over-year, below inflation of 211% estimated by INDEC over the last twelve months.
Interbank data serves as a thermometer to know how the majority of large companies are moving and also how the digitalization of small and medium-sized businesses is increasing. This is a publication prepared by this company, a fintech specialized in the corporate sector, every six months.
The latest report also shows that despite the surge in inflation, exchange rate pressure and political uncertainty that reigned in the second half of last year, companies increased their reliance on banks and the use widespread use of digital payment methods.
In total, in the second half of last year 11 thousand companies entered the banking world, almost 4% more compared to the same period in 2022. Each company manages multiple bank accounts: the report estimates that each has on average eight associated accounts.
That semester was driven by the classic sectors: Manufacturing industry, Financial intermediation and Wholesale and retail trade were the protagonists, both in terms of number of transfers made and amounts transferred. However, in early 2024 the equation has changed.
All in all, the “photo” of the second half of last year shows a strong evolution compared to what was seen five years ago.
“If we compare with 2019 data, we find almost one hundred thousand companies that have entered the country’s financial ecosystem – a growth of 62% – and more than 1 million open bank accounts. There was also a 9% increase in business-to-business transactions and an increase in nominal volume traded. All this data shows a growth of the banking sector, which represents a big step towards the formalization of the Argentine economy,” said Pablo Carretino, CEO of Interbanking.
Inflation is behind the increase in volumes. Analyzing the types of transfers made by companies, the payment of salaries is the one that m If we take into account the amount operated by type of transfer, the payment of salaries shows the greatest growth, with an increase of 181% compared to the year last . In second place are payments to suppliers and finally transfers relating to the payment of AFIP taxes, which present a positive variation of 167% and 137% respectively.
At a geographical level, the x-ray shown by Interbanking places the NOA as the region of the country where the greatest growth in the digitalisation and banking of businesses has occurred, with 7.1% of new businesses within the banking ecosystem.
If we compare the amount transferred with the second half of 2022, an increase of more than 221% is observed in the region, mainly led by Tucumán (317%) and followed by Salta (216%).
Specifically in Salta, businesses carried out more than 1 million transfers for an amount of over two billion pesos, 200% more than in the same period of the previous year, led by the mining and quarrying sector, which represents a 33% of the total transferred.
Source: Clarin
