Bankia S A : has allocated 1,200 million euros for companies in the Balearic Islands until November to face the consequences of Covid-19

• Of this figure, nearly of 600 million were granted in loans either fully or partly endorsed by the ICO, of which nearly 2,900 transactions were formalised
• Bankia also granted 8,600 mortgage payment holidays and 11,500 in consumer loans to families for a combined amount exceeding 1,000 million euros

Bankia granted loans worth nearly 1,200 million euros to companies in the Balearic Islands up until last November, in nearly 4,700 transactions, to help them through the economic consequences of Covid-19.

Of this amount, nearly 600 million euros were paid out as loans with partial ICO backing in almost 2,900 transactions. Of this figure, the total amount guaranteed by the official body exceeds 427 million, accounting for 71%.

In addition to the guaranteed transactions, Bankia launched its own solutions to help the Balearic Islands' business community. Through these and other initiatives, the bank succeeded in increasing loans to companies in the Islands by an additional 585 million euros during the first 11 months of the year.

Bankia's corporate director of Business for the Catalonia-Balearic Islands, José Manuel García Trany, stressed that 'at Bankia we have wanted, from the very first moment, to be part of the solution and we have been highly aware that if we are capable of coming together to ensure businesses remain strong, which after all are the ones that generate jobs, we will all overcome this crisis sooner'.

Help for families in the Balearic Islands

When it comes to families, Bankia has granted 20,000 payment holidays (including those established in the Royal Decree and solutions implemented by the bank itself) for an amount in excess of 1,000 million euros.

Of these, 8,600 were mortgage deferrals, while almost 11,500 were moratoriums on consumer loans.

The total value of the mortgages benefiting from these payment holidays is 925 million euros, while consumer loan deferrals are worth more than 100 million.

Bankia's corporate director for the Balearic Islands, Antoni Serra, underlined that 'since the beginning of the crisis we have endeavoured to be close to families and, as far as possible, to alleviate their financial burden so that the economic crisis arising from the health crisis will affect the least possible effects for them'.