Bankia S A : grants loans to companies in La Rioja worth 220 million euros up until November to mitigate the impact of Covid-19

• A total of 115 million were granted in loans either fully or partly endorsed by the ICO, in 700 transactions
• In addition, Bankia granted 1,670 mortgage moratoriums and 1,880 consumer loans to La Rioja's families for a combined amount of 179 million euros

Bankia granted loans worth over 220 million euros to companies in La Rioja up until November last year in over 1,160 transactions, to help them through the economic consequences of Covid-19.

Of this amount, 115 million euros were paid out as loans with partial ICO backing in almost 700 transactions. Of this figure, the total amount guaranteed by the official body is 85 million, accounting for 74%.

As well as the guaranteed transactions, Bankia launched its own solutions to help La Rioja's business community. Through these and other initiatives, the bank succeeded in increasing loans to companies in the region by an additional 107 million euros during the first 11 months of the year.

Bankia's corporate director of Business for the North, Belén Martín, 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 La Rioja

When it comes to families, Bankia has granted 3,550 moratoriums (including those established in the royal decree and the proprietary solutions implemented by the entity) for an amount of 179 million euros.

Of all of them, 1,670 were mortgage deferrals, while 1,880 were moratoriums on consumer loans.

The total value of these mortgage deferrals amounts to 167 million euros, while consumer loan deferrals are worth almost 12 million.

Bankia's corporate director for the North region, Begoña Hernández, who works out of Logroño, 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'.