Bankia S A : has allocated 370 million euros for companies in the Granada region up until November to face the consequences of Covid-19

• A total of 163 million were granted in loans either fully or partly endorsed by the ICO, in 2,000 transactions
• Bankia also granted 4,650 mortgage deferrals and 4,900 deferrals on consumer loans to families for a combined amount of 430 million euros

Bankia granted loans worth 370 million euros to companies in the Granada region up until November last year in 3,900 transactions, to help them through the economic consequences of Covid-19.

Of this amount, 163 million euros were paid out as loans with partial ICO backing in almost 2,000 transactions. A total of the total amount guaranteed by the official body is 127 million, accounting for 78%.

As well as the guaranteed transactions, Bankia launched its own solutions to help Granada's business community. Through these and other initiatives, the bank succeeded in increasing loans to companies in the region by an additional 205 million euros during the first 11 months of the year.

Bankia's corporate director of Business for the South-Canary Islands, 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 Granada

When it comes to families, Bankia has granted over 9,550 deferrals (including those established in the Royal Decree and the proprietary solutions implemented by the entity) for an amount of 430 million euros.

Of these, nearly 4,650 were mortgage deferrals, while over 4,900 were deferrals on consumer loans.

The total value of the mortgages benefiting from these payment holidays exceeds 390 million euros, while consumer loan deferrals are worth a further 40 million.

Bankia's corporate director for the Andalusia region, Joaquín Holgado, 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'.