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The strong increase in mortgage loans is consolidated

Last August, 7.109 billion pesos were granted in mortgage loans, which constitutes a 38% more than July and 7 times more than August 2016, the Ministry of Finance reported.

The 84% of the credits was granted by the UVA modality (Acquisition Value Unit), value adjusted by inflation and it allows granting loans with installments similar to a rent. Loans have been granted by 17 public and private banks.

Since April, mortgage loans to individuals have grown at 50% per month.

In August, the 70% were granted by the three big public banks. Banco Nacion granted credits for 3.003 billion pesos, Banco Provincia granted 1.52 billion pesos and Banco Ciudad 559 million pesos.

In the first half of August, 3.321 billion pesos were granted and in the second half, that volume grew a 114% and reached 7.1 billion pesos.