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Pedro Castro e Almeida, CEO of Santander Portugal, announced on Tuesday that, excluding credit lines with state guarantees, the bank granted 500 million euros in credit operations in March.
The banker said that, so far, 70,000 Santander clients have joined the credit moratorium, which amounts to 7.5 billion euros. These are clients who, until September 30, will not pay principal on their credit contracts and many will not pay interest on the loans either. The amount corresponds to 20% of the bank’s portfolio for individuals and around 40% of the corporate portfolio.
The data was provided this Tuesday at a hearing in the Budget and Finance and Economy Commissions. Earlier, Banco BPI managers and the CEO of Millennium bcp were heard. Bankers, in particular, are asked about customer complaints that they cannot access credit or default.
Pedro Castro e Almeida emphasized that if in 6 months there are no signs that the economy is recovering, “there will have to be a new moratorium.”
In the Covid-19 line of credit, which has a state guarantee, Santander has a market share of 35.7% in the number of operations and 30.5% in the amount of financing. The bank processed 415 transactions worth 120 million euros.
Tomorrow the executive president of Caixa Geral de Depósito, Paulo Macedo, and the CEO of Novo Banco, António Ramalho, will be heard.
Updated at 8:38 p.m. with more information
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