Just three years after the outbreak of the epidemic, publicly guaranteed bank loans ICO created by the government to prevent a major destruction companies, SMEs And self-employment they continue to show a behavior due to the health crisis more positive More than expected when the decree was issued jail in 2020. At the end of March, guilt these loans – more 90 days default– was limited to 1.67% (2,350 million euros)According to a report from Official Credit Institution (ICO) To which EL PERIÓDICO DE CATALUNYA from the Prensa Ibérica group has access. This led to the defaults The state will pay 391.4 million up to euro banking thanks to the guarantees it has made to ensure that funding continues to reach the economy in the early stages of the coronavirus.
This delayed operationsthus, approximately 39,800given around 28,800 customers. The state promised to undertake 80% of losses will cause banks to overdue loans freelancers and SMEs and between 60% and 70% on bad loans companies larger amount paid out, as the default is under control and also ICO pays off amount guaranteed to organizations unpaid installmentsNot the entire outstanding principal of the loan, given the possibility of the customer being able to pay the installments once again.
39,800 delayed transactions, 1,192,484 given with, 674,922 beneficiaries what did you buy 140,737 million euros (from them, 107,187 million guaranteed). These unpaid transactions (3.33% of the total) greater than the outstanding amount (1.67%), customers who usually request smaller amounts – usually freelancers and SMEs– they have a little more difficulty in meeting the quotas. In any case, it is also a low data as much about what expected about three years ago historical facts guilt At the end of June grace period for the majority of operations benefiting from the campaign payment moratorium however, there was no significant increase in default.
Differences with the Bank of Spain
The figures in the ICO report, which will grow logically in the coming quarters, are as follows: different given Bank of Spain due to their differences methodology calculation. ICO takes as reference maximum loan amount because it estimates that it presents the most realistic image. Thus, a portfolio closed to new entrants (collateral demand period ended in June of last year) and this portfolio continues. reduction through depreciation (mainly from the most trusted customers). Instead of, overdue loans Do not leave the portfolio where it is always weighted, with difficulties in paying or greater. will tend to increase according to the latest data outstanding balance. Additionally, the ICO takes into account only outstanding loansBecause they concern the institution the most, because they are the ones pushing the institution. make payments to banks.
HE Bank of SpainInstead, it takes it as a reference last outstanding balance of the loan withdrawn (Although approved and available, there are approved amounts that companies do not ultimately need). Also, calculate doubt rate (not default like ICO) includes both loans unpaid such as those registered in subjective doubt (transactions that are current with the payment but are likely to no longer exist). This is because what is relevant for the supervisory body, coup who may have said credit in public accounts, but in banks and financial system stability.
According to the latest data, living regulated loan ICO credit dropped 79,212 million euros at the end of last year (11.3% less than in 2021). one of them 7.1% (5,633 million78% more) were: questionable collection (it will be 6.3% compared to the maximum score of the regulated portfolio). Specifically, 2.905 million and one 3.7% in Guilt and 2.728 million and one 3.4% in subjective suspicion. There was also another 19.6% (15,504 million, 14.5% less) private surveillance (up to date with payments but showing signs of weakness), 73.3% (58,075 million, 14.5% less) they had no problem.
within expectations
7.1% doubtful or 6.3% of these loans calculated by the Bank of Spain, 3,55% general bank doubtful february and 4.2% business doubtful from December. The agency itself justified this in its latest financial stability report: worst behavior the credit quality of this portfolio compared to the group of loans to companies. within expectations Implementation of the ICO guarantee program specifically targeting companies facing the 2020-2021 health crisis weaker financial situation and especially due to the nature of their sectoral activities, they will be more affected by this”. All-time high of 13.61 percent Suspicious general banking reached in 2013 or 30% of those recorded by construction companies and developers after the balloon burst.
Following the onset of the pandemic in March 2020, the Government two warranty lines for an amount 140,000 million euros (for 100,000 million liquidity and working capital and for 40,000 million investment), with which delay for workers This was key to preventing the massive destruction of productive tissue and employment during the lockdown. HE 98% your operations signed by freelancers and SMEs and 73.5% were for self-employed and micro SMEs with fewer than 10 employees.
Catalonia It was the community that recorded the most operations with 238,016 credits For 134,260 companies and freelancers 26,507 million Euro (20,352 million guaranteed). First for financing Community of Madrid (28,486 million), due to greater concentration of large companies. This sectors were the most assured tourism, entertainment and culture; construction and infrastructures; commercial, professional and administrative services; consumer goods and ‘retail’; equipment and industrial products; and commercial distribution of food and beverages.