Covid-19 Leads to Suspension of Payments on €39 Billion in Loans

29 June 2020 According to the Bank of Portugal’s latest Financial Stability Report, Portugal’s eight largest financial institutions have an overall exposure to loans with suspended payments, due to the coronavirus, of approximately 39 billion euros, including both public and private debt.

The total exposure corresponds to about 22% of the total amount of loans to both companies and individuals. Instalments on roughly 29% of corporate loans have been suspended, while payments on about 17% of loans to individuals have been temporarily halted.

Original Story: Dinheiro Vivo – Paulo Ribeiro Pinto

Translation/Summary: Richard D. Turner