The company which gets the bulk of its business from Brazil, Mexico and Argentina grew its assets under management to $10.6 billion and its credit book to $6.6 billion with the credit card portion of the portfolio more than doubling in the past year, according to a press release. Still, MercadoLibre executives said in a call with analysts that they’re remaining cautious on credit given macroeconomic uncertainty in Brazil where interest rates are set to climb further. In Argentina, where President Javier Milei is undertaking dramatic spending cuts and reforms to try to quash inflation and stabilize the economy, MercadoLibre has “quadrupled” its credit book in the past year through loans for consumers and merchants, de los Santos said. Though the company isn’t yet ready to begin offering credit cards in that market, he said.

https://www.bloomberg.com/news/articles/2025-02-20/mercadolibre-blows-away-estimates-in-record-quarter-to-end-2024?sref=EcccZSTc