Bankia S A : grants loans to companies in Castilla-La Mancha worth 316 million euros until June to mitigate the impact of Covid-19

  • A total of 155 million were granted in loans either fully or partly endorsed by the ICO, in 1,235 transactions
  • In addition, Bankia granted 1,125 mortgage moratoriums and 1,570 consumer loans to Castilla-La Mancha’s families for a combined amount of 105 million euros

Bankia granted loans worth 316 million euros to companies in Castilla-La Mancha during the first semester of the year in 2,540 transactions, to help them through the economic consequences of Covid-19.

Of this amount, 155 million euros were paid out as loans with partial ICO backing in almost 1,235 transactions. A total of the total amount guaranteed by the official body is 123 million, accounting for 79%.

As well as the guaranteed transactions, Bankia launched its own solutions to help the business community in Castilla-La Mancha. Through these and other initiatives, the bank succeeded in increasing loans to companies in the area by an additional 161 million euros during the first half of the year.

Help for families in Castilla-La Mancha

When it comes to families, Bankia has granted close to 2,700 moratoriums (including those established in the royal decree and the proprietary solutions implemented by the entity) for an amount of 105 million euros.

Of these, 1,125 were mortgage deferrals, while almost 1,570 were moratoriums on consumer loans.

The total value of these moratoriums is 95 million euros, while consumer loan deferrals are worth almost 10 million.

The corporate manager of Bankia in Castilla-La Mancha and Extremadura, Jaime Campos, said that ‘from the outset, Bankia wanted to help solve the financial problems of families and companies caused by the economic crisis, so that this would have the smallest possible impact’.

Likewise, Bankia’s corporate director of Business Banking Centre, Faustino Ortiz, said that companies are the most important link in the chain when it comes to getting people out of the economic crisis as quickly as possible, adding that the bank has renewed all the lines of credit falling due until the end of June. It is also processing loans with ICO backing and reviewing companies’ financial situation on request to be able to cover their needs.

Nationwide financing

In terms of the Spanish market, the bank has managed ICO-backed loans worth 7.45 billion euros, accounting for 18% of total credit to companies granted during the first six months of the year.

Since the beginning of the crisis, Bankia has granted Spanish families around 4,080 million euros in mortgage loans in more than 40,200 transactions. Moratoriums on consumer loans equal 330 million euros with 51,500 transactions.

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