2023-09-25 07:23:58
The Government of the province, together with the Bank of Tierra del Fuego (BTF), recently announced the launch of the “MiPyME Investment Line”, capitalized by the Fuegian Productive Matrix Expansion Fund (FAMP), aimed at companies based in Land of Fire.
This new financing, with a rate that may not exceed 42% during its duration, is added to the multiple actions carried out by the BTF to promote the development of the provincial economy.
Thus, even with a complex and dynamic macroeconomic context, with an annual consumer price index of 124.4%, In the first 8 months of the year, the Bank of Tierra del Fuego placed loans for more than 10.3 billion pesoswith rates always lower than inflation and widely lower than those offered by the majority of the Banks that operate in the Province.
These grant amounts represent an increase of 179% compared to the same period of the previous year.
In particular, Fuegian companies and businesses received $2.5 billion pesos of financial assistance in different lines of credit and, in addition, they were able to access the rest of the products and services provided by the BTF, with better costs and conditions than those offered by other entities in the sector. On the other hand, commercial relationships were established that made it possible to offer promotions and benefits to the Bank’s individual segment clients.
Regarding personal banking, the Bank granted loans this year for $7.9 billion pesos; mainly, in lines with rates that, in addition to being lower than inflation and the salary variation coefficient, are fixed, which allows families and individuals in the province to have predictability for the future.
In addition to assistance in loan lines, the Bank continues to make the necessary efforts so that its Fueguina Card customers (Visa and Mastercard) can continue purchasing, in a wide network of stores, with discounts and financing of 3, 6 and 10 installments. without interest.
These actions not only allow clients to access goods that they could not obtain without quotas, but are essential to sustain consumption and, thus, the development of the local commercial and productive sector.
In this framework, in 2023, customers made credit card purchases for a total of 27,000 million pesos, of which around 65% was made using some form of installment financing.
The importance of this tool translates into a sustained growth in the number of credit cards issued by the Bank of Tierra del Fuego at the request of its clients, adding more than 4,000 new cards so far this year.
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