MercadoLibre’s fintech arm increased its outstanding loan book by 48% year-over-year in 2025, pushing total consumer and merchant credit balances to $3.9 billion by year-end. This rapid growth shifted the unit’s revenue mix, with lending now accounting for 37% of fintech gross merchandise volume versus 22% a year earlier. Management disclosed that net interest margin compressed by 45 basis points as the cost of funds rose by 180 basis points across Latin American markets. Analysts caution that sustaining this pace of credit origination could further strain liquidity and heighten sensitivity to regional macroeconomic volatility in 2026.

In the third quarter, Asset Management One Co. Ltd. reduced its holding in MercadoLibre by 5.8%, selling 1,979 shares and ending the period with 32,024 shares, representing roughly 0.06% of the company’s equity. According to SEC filings, this stake was valued at $74.8 million at quarter-end. Smaller funds also adjusted exposure: Darwin Wealth Management initiated a new position worth $29,000, while Highline Wealth Partners increased its stake by 366.7% through the acquisition of 11 additional shares. Overall, institutional ownership stood at 87.62%, signaling both continued confidence and selective de-risking as investors anticipate potential credit losses and funding cost pressures in the coming year.