Key Takeaways MercadoLibre's total loan book surged 91% YoY in the second quarter of 2025 to $9.3 billion.MELI's narrowing NIMAL signals future margin compression risk if credit growth continues unchecked.MELI's lending is growing faster than revenue, sharpening concerns about future profitability gaps.MercadoLibre (MELI) is Latin America’s leading e-commerce and fintech platform provider, operating through its Mercado Libre Marketplace and Mercado Pago services. The company’s aggressive credit expansion st ...