During the pandemic, credit card loans decreased 7% as clients reduced large purchases such as travel and hotels, which fuels credit card loans. At the same time, many clients paid off credit card debt with the liquidity obtained from government transfers and pension fund withdrawals. In fourth quarter 22, as household liquidity levels returned to normal and holiday travel resumed, credit card loans began to grow again, and this trend should continue to be visible in 2023.

Feb 3, 2023 / CFO / receipt, needs a key / Emiliano Muratore, CFO | earnings call 2023-02-03 | transcript 48d7bb62-f4cb-4fb7-ad32-4bc54ecd8fc3 | chars 12747-13224 | segment 13