September 1, 2021 – Ana Custódio
Banco de Portugal published data today on loans currently under moratoria in the country.
At the end of July 2021, the total amount of loans covered by moratoria totalled 36.8 billion euros, down by €0.7 billion since June.
According to the Bank of Portugal, the drop results from the decrease in both loans to individuals and non-financial companies, which fell by 0.2 and 0.5 billion euros, respectively.
Moratoria on loans were granted as a response to the COVID-19 pandemic. Protective measures were approved for households and companies to ensure continued liquidity.
There were 14.2 billion euros in loans to individuals covered by moratoria at the end of July. Of that, 12.9 billion euros corresponded to mortgages. Non-financial corporations’ loans in moratorium decreased in all sectors of activity, reaching 21.8 billion euros at the end of the month.
Translation: Richard D K Turner