According to a report by theCórdoba Cereal Exchange, the granting of loans to the private sector, measured in terms of Gross Domestic Product, has been growing in recent years, reaching 11.6% by the end of 2025.
In Argentina, primary productionrepresents 15% of total loans, while in Córdoba it reaches 27% and constitutes the main receiving activity.
Financial intermediation in 2025 During 2025
, a process of crowding in credit to the private sector was observed, due to the reorganization of the main components of the total assets of the
financial system.
Therefore, the private sector (families and companies) accounted for 43.9% of total assets, while 27.8% is explained by the public sector.
Year-on-year, the real balance of credit to the private sector, both in domestic and foreign currencies, grew by 37% in 2025.
In particular, financing to the private sector in domestic currency expanded 27.4% in real terms, while in foreign currency it increased 73%
.
Compared to other South American countries, Argentina has the lowest percentage of loans to the private sector in terms of output, averaging 8.9% over the last 18 years.
However, after a sustained fall that reached its minimum in April 2024 (4% of GDP), the ratio has grown to around 8.8% of GDP in December 2025.
In addition, it managed to exceed the average in the period between October and November of last year, when it reached 9% and 9.2% of GDP respectively.
If you add up loans in foreign currency, the ratio reaches 11.6% of GDP.
Loans according to economic activity
In the course of 2025, private banks lent $43.037 billion, the main recipients being individuals in employment relationships, with 25.7% of the amount
.
Second, services - which include hotel and restaurant activities, transportation, storage and communications, financial intermediation and other financial services, real estate, public administration, education, and others - were the recipients of 25.2% of this amount, showing an increase of 7.6 percentage points compared
to 2024.
Meanwhile, the primary sector reached third place, increasing one position compared to the previous year, with 16.7% of the total.
On the other hand, manufacturing and commerce ranked fourth and fifth, with 15.2% and 12% respectively.
The primary production and processing of food and beverage products received a total of $23,533 million, adding up to the amount granted by public, private and foreign banks.
A peculiarity is that private banks were the providers of the largest amounts to finance these activities, followed by foreign banks, and finally public banks.
