Millennium BCP gave 125.023 moratoriums between public and private and individuals and companies. The amount of credit in default on BCP amounts to 8,9 billion euros.
The bank granted 101.114 thousand moratoriums to individuals in the amount of 4,2 billion euros. Of this amount, 91% refers to mortgage loans. In relation to companies, the bank gave 23.909 thousand arrears in the amount of 4,7 billion euros, of which 88% corresponds to performing loans.
In terms of public moratorium on private individuals, BCP registers 59.560 transactions in the amount of 3,5 million and in terms of APB's moratorium, or private moratoriums, there are 41.554 in the amount of 0,7 million.
Miguel Maya said at the press conference for the presentation of the results of the third quarter that "the risk is not in the moratoriums" are over, the risk is in withdrawing support from customers before resuming the activity ", referring to the need for companies to recover their cash flows to cover the debt.
In the protocoled credit lines, BCP carried out 16.976 operations in the first and second wave, assuming a position of “market leadership” with a 38% share of the approved amount.
BCP lent EUR 2,4 billion to companies through Covid-19 credit lines.
The CEO of BCP admitted that some of these State-backed credits will default, which is why he suggests that the State create a Sovereign Fund to be able to convert debt into capital of these companies, which are economically viable but are financially weakened .
Asked if he had already given the suggestion to the Government, Miguel Maya referred to the document by António Costa e Silva.