Credit Card outstanding receivables (G$)
Number of Credit Cards
Market Overview
In the dynamic landscape of Paraguay's credit card market, the outstanding receivables balance has seen substantial growth, reaching G$ 3.754,5 billion in 2023, reflecting a remarkable year-over-year increase of 9%. This surge follows the 2022 outstanding balance of G$ 3.433,1 billion. Looking ahead, the most likely scenario for 2025 forecasts an outstanding credit card receivables balance of G$ 4.410 billion. Simultaneously, the number of credit cards has experienced a steady YoY growth of 14%, reaching almost 1.1 million in 2023, up from 0.9 million in the previous year.
Market Share growth rankings
The local credit card market's competitive landscape is evolving, with notable shifts in market share among the top issuers by credit card outstanding receivables. By September 2023, Sudameris Bank leads in market share growth with an impressive +7.2% (adding BANCO REGIONAL´s portfolio), followed by the digital bank UENO (+1.2%), BANCO ITAU PARAGUAY (+1.1%), BANCO ATLAS (+0.6%), and TU FINANCIERA (+0.2%).
As of September 2023, BANCO ITAU commands a substantial market share of 40.1%, followed by Sudameris Bank at 11.3% and Banco Atlas at 8.1%. The remaining market is distributed among 16 other issuers, contributing to a cumulative market share of 40.5%.
On the other hand, the market share growth based on the number of credit cards further illustrates the competitive dynamics. SUDAMERIS leads with a 4.7% market share points increase, followed by UENO (+3.1%), BANCO GNB (+1.2%), VISION BANCO (+0.4%), and FIC (+0.3%).
In the dynamic landscape of Paraguay's credit card market, the outstanding receivables balance has seen substantial growth, reaching G$ 3.754,5 billion in 2023, reflecting a remarkable year-over-year increase of 9%. This surge follows the 2022 outstanding balance of G$ 3.433,1 billion. Looking ahead, the most likely scenario for 2025 forecasts an outstanding credit card receivables balance of G$ 4.410 billion. Simultaneously, the number of credit cards has experienced a steady YoY growth of 14%, reaching almost 1.1 million in 2023, up from 0.9 million in the previous year.
Market Share growth rankings
The local credit card market's competitive landscape is evolving, with notable shifts in market share among the top issuers by credit card outstanding receivables. By September 2023, Sudameris Bank leads in market share growth with an impressive +7.2% (adding BANCO REGIONAL´s portfolio), followed by the digital bank UENO (+1.2%), BANCO ITAU PARAGUAY (+1.1%), BANCO ATLAS (+0.6%), and TU FINANCIERA (+0.2%).
As of September 2023, BANCO ITAU commands a substantial market share of 40.1%, followed by Sudameris Bank at 11.3% and Banco Atlas at 8.1%. The remaining market is distributed among 16 other issuers, contributing to a cumulative market share of 40.5%.
On the other hand, the market share growth based on the number of credit cards further illustrates the competitive dynamics. SUDAMERIS leads with a 4.7% market share points increase, followed by UENO (+3.1%), BANCO GNB (+1.2%), VISION BANCO (+0.4%), and FIC (+0.3%).