Bankia S A : has allocated 760 million euros for companies in the Islas Canarias up until November to face the consequences of Covid-19

• Of this figure, more than 450 million were granted in loans either fully or partly endorsed by the ICO, of which in excess of 2,560 transactions were formalised
• Bankia also granted 5,700 mortgage deferrals and 10,700 in consumer loan deferrals to Canarian families for a combined amount of 600 million euros

Bankia granted loans worth close to 760 million euros to companies in the Islas Canarias up until November last year, in 3,700 transactions, to help them through the economic consequences of Covid-19.

Of this amount, more than 450 million euros were granted in loans and partially ICO-backed loans, in more than 2,560 transactions. A total of the total amount guaranteed by the official body is 340 million, accounting for 75%.

In addition to the guaranteed transactions, Bankia launched its own solutions to help the Islas Canarias business community. Through these and other initiatives, the bank succeeded in increasing loans to companies in the area by an additional 300 million euros during the first 11 months of the year.

Bankia's corporate director of Business for the South-Islas Canarias, Salvador Curiel, 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 Islas Canarias

When it comes to families, Bankia has granted 16,400 moratoriums (including those established in the royal decree and the proprietary solutions implemented by the entity) for an amount of 600 million euros.

Of all of them, nearly 5,700 were mortgage deferrals, while 10,700 were deferrals on consumer loans.

The total value of these payment deferrals amounts to more than 530 million euros, while consumer loan deferrals are worth almost 70 million.

Bankia's corporate director for the Islas Canarias, Federico Navarro, 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'.