More than three years after the outbreak began Pandemic, the credit banking with public approval ICO It was created by the government to prevent it. big corporate fiascoSMEs and self-employed continue to act due to health crisis more positive what would it be expected when it is decided quarantine in 2020, but also expected and progressive deterioration. at the end of April, guilt The rate of these loans, which were in default for more than 90 days, increased from 1.67% in January (€2,346.3 million defaulted). at 2.004% (2,815.5 million, one 19.9% more), according to a report by Official Credit Institution Accessed by EL PERIÓDICO DE CATALONIA from Grupo Prensa Ibérica (ICO).
This led to the defaults Situation pay 520.9 million to banks euro (129.5 million and one 33% more as of January), guarantee that the funding has given to ensure it continues to reach the economy in the early stages of the coronavirus. in parallel, organizations paid to ICO 1,721.3 million Euros in return for receiving the guarantees. HE balancetherefore, it remains positive For the state, though at some point will return As might be expected, also given the amount of loans expected to repay keep growing as customers in more sensitive There are more problems to meet the quotas.
Thus, the State promised to undertake 80% of the damage done to the banks by the outstanding loans to the self-employed and SMEs, and Between 60% and 70% about non-returning loans to large companies. The amount paid is still low because guilt is happening it containsand also because the ICO pays the organizations a guaranteed amount of outstanding fees, not all main pending loan, given the possibility that the customer will be able to pay the installments once again.
Self-employed and SMEs
Number delayed operations amount 48,034 (39,839 in January), granted 34,135 freelancers, SMEs and companies (28,831 in the previous report). Compare with the outstanding loans in question 1,192,484 given with, 674,922 beneficiaries 140,737 million euros (of which, 107,187 million guaranteed). that outstanding transactions (4% of total) higher than the outstanding amount (2%) means customers are asking for smaller amounts – often self-employment And SMEs– they have more problems to meet quotas.
Therefore, the guilt rate is higher. micro SMEs (3%), self-employed (2.86%) and SMEs (2.19%) than companies larger size (0.69%). The total default rate is 2% because the vast majority of operations ( 98% of the total) was awarded to self-employed and small and medium-sized companies. In any case, all segments of low data are treated in terms of both what was expected three years ago and historical default data. In June of last year, the grace period ended for most operations that benefited from the moratorium on principal payments, but there was no notable increase in default.
Remarkable in terms of sectors tourism, entertainment and culture have a below-average default rate (1.77%)despite being one of the most affected by his imprisonment. strong recovery after activity reopening economy The post-pandemic has enabled it to achieve a much more robust financial situation than could have been envisioned in the spring of 2020, and this is something that can more or less be extended to other sectors. According to the autonomous community, among those with the lowest rates Rioja (0.76%), Navarre (0.83%) and Balearic Islands (0.86%), while the most crowded average is around: Andalusia (2.06%), Catalonia (2.05%) and Madrid (2.12%).
Difference with 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 calculation methodology. ICO takes as reference maximum loan amount because it estimates that it presents the most realistic image. So, this is a closed wallet declining due to new inflows (collateral claim period ended in June of last year) depreciation (mainly from the most trusted customers). On the other hand, loans that are not due or have more difficulty in paying do not leave the portfolio, where their weight will always tend to increase according to the latest open balance data. Additionally, the ICO takes into account only outstanding loansbecause they are the most relevant for the institution that forces banks to pay.
The Bank of Spain as a reference last outstanding balance the amount of the loan available (there are approved amounts that companies have approved and disbursed but do not ultimately need). Also, calculate suspicion rate (not guiltICO) includes both outstanding loans and those registered in its category. 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 Rate of ICO loans fell in March 75,418 million euros (13,203 million and 14.9% less in a year), of which 8.2% collection was doubtful, compared to 4.1% a year ago. Thus, companies’ payment problems increased these doubtful loans by 2,539 million and 70% to 6,167 million; both an increase in non-performing loans (136% to 3,353 million) and an increase in subjective bad loans (27% up to 2,813 million).
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