02/16/2020 - 18:57
Private banks will begin to apply from this Monday a drop in the ceiling to the credit rate for micro, small and medium enterprises, which will go from 40 to 35%, although some will define during the week the floor of taxation for this credit policy.
The change will take place after the Central Bank of the Argentine Republic (BCRA ) imposed 35% as a new credit limit that must be approved by the banking entities that want to access the discount of up to two points in their reserve requirements.
" On Friday we left the systems adjusted so that no rate is above 35%, and we continue with the idea of delivering the $ 15,000 million we have for SMEs," the Manager of Planning and Wholesale Segment of Banco Galicia, Gerónimo Fresco , explained to Télam .
Thus, for example, the financing of Galicia for short-term loans and for the discount of checks will have an annual rate of 35% , and 33% to 35% for working capital without collateral to bank customers, and to be repaid in one year .
"In the week we will make an analysis from the commercial for how we accommodate the range of rates and where we leave the floor," said Fresco.
In the case of the BBVA Bank, which since January 27 offered loans to the SME sector with rates of up to 40%, it will also add to the drop in rates for the transfer of checks with up to 180 days and loans for working capital, purchase of capital goods and investment projects.
"We are maintaining our strategy but modifying the rates according to the BCRA resolution," BBVA sources said, who said Monday they will define the detail of the new rate range.
Another of the entities that will be added down is Banco Credicoop, which this week reported having granted more than $ 8.6 billion to more than 4,500 MSMEs in deferred paycheck discounts and working capital.
In that line, they formalized rates ranging from 27% to 31% for the discount of checks and rates that between 29% and 32% for the line of loans for working capital.
In the case of public banking, the City Bank decided to lower its range of rates , both for the discount of checks and for working capital, between 34% and 35%, always with a maximum amount of 10 million pesos per company .
Other public banks, such as Banco Nación, will not apply discounts on rates to SMEs , the decision is based on already giving rates much more competitive than those promoted this week by the Central.
"The credits that we extend with a subsidized rate of 27.9% are well below the BCRA reference rate. So these lines remain at those levels," they told Télam from the Nation.
During the last month, more than a dozen banks across the country opened credit lines for financing SMEs at rates below 40%, an offer that was very well received by the sector.
According to BCRA data in its "Report on Banks", the default of companies for the payment of credits reached 7.1% in December, a record for the sector, which increased exponentially during the last year and a half.
With Télam agency