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Credit and Debit Cards Market in Bolivia - 2023.09 Rankings

Credit Card outstanding receivables in Bolivia
In the realm of annual market share growth, Banco Ganadero S.A. emerges as the leader, gaining 3.90 percentage points, closely followed by Banco Económico S.A. (3.33%), Banco Nacional de Bolivia S.A. (3.29%), Banco BISA S.A. (3.11%), and Banco Mercantil Santa Cruz S.A. (2.03%). These percentages reflect the intense competition among financial institutions to expand their influence in the market, particularly after the closure of Banco Fassil.

Examining the market share leaders by the volume of the credit card portfolio, Banco de Crédito de Bolivia S.A. claims the top spot with a 17.8% market share, followed closely by Banco Económico S.A. (17.4%) and Banco Nacional de Bolivia S.A. (15.6%). Together, they command a substantial 50.8% market share.

As of September 2023, the credit and debit card landscape in Bolivia showcases significant growth in some indicators and decline in others. With 6.5 million debit cards, 0.18 million credit cards, and a total of 14.8 million banking system customers, the industry continues to witness an increased reliance on electronic payments.
The 8.7% and 30.7% year-over-year increases in the number and volume of credit and debit card POS transactions, totaling 68.8 million transactions and 16,450 million pesos, respectively, further highlight this trend. However, the above occurs in a market context in which the number of active credit cards has decreased by 23% compared to the previous year and the number of debit cards has fallen by 8%.

Turning to financial metrics, obligations to establishments holding credit card balances reached 105.5 million pesos, indicating a 95.8% year-over-year nominal growth. However, a 6.7% decrease in credit agreements for credit cards and a 10.6% decline in ATM commissions related to card services showcase the diverse performance of revenue streams within the industry.