The Bank of Spain updated the figures on the impact of the damage caused by the recent DANA and its floods and increased the maximum exposure of the financial sector to 20.584 million, as clarified on Wednesday by the governor, José Luis Writing. In addition, The number of customers affected has now reached 561,210, including 534,529 households. -147,245 mortgage loans and 387,284 other family loans- and the remaining 26,681 are businesses, he explained during a monographic day on the impact on the DANA economy organized by APIE.
The financial sector’s maximum exposure of 20.584 million represents 1.8% of the total credit of Spanish banks, But the governor insisted that this figure in no way equates to the volume of defaults, which will be much lower due to the measures taken and the moratoriums on credit. “We have no concerns about financial stability”Escriva added, after clarifying that the credit exposure of 20.584 million is divided between 13.542 million for households and 7.042 million for businesses.
In the case of houses, Of these 13.542 million, the majority, 10.047 million, are mortgage loans.s ; while 1.903 million are consumer credit exposures and the remaining 1.593 million correspond to other types of loans to families. While the corporate credit exposure of 7.042 million mainly concerns loans to SMEs, 4.269 million; and the rest, 2,773 million, corresponds to other companies.
In addition to these data, Escriva said that, from the beginning, the Bank of Spain has promoted an agile system of exchange of wet or damaged notes to recover cash as a means of payment as quickly as possible in affected areas. In mid-November, the first deposit of damaged banknotes was made, 22,700, worth 720,000 euros.
Cash withdrawals, he explained, increased after DANA, although they are already partially decreasing, while payments at sales terminals, which were greatly affected, are gradually recovering, although 9% remain without being operational. Regarding credit card payments in the area, they are lower than the national average, but they are gradually approaching normality.
Of the 298 bank branches present in DANA-affected areas, most are now open, with the exception of 37 which remain closed.
