Coronavirus: over €20 billion in payment deferrals in April

Coronavirus: over €20 billion in payment deferrals in April
Credit: Belga

Belgian banks have granted over €20 billion in payment deferrals in the last three weeks, the financial sector's federation announced on Friday. 

As of 22 April, 66,514 individuals and 96,826 companies were granted a payment deferral by the bank this month, according to Febelfin.

The deferrals are part of government measures in the face of the crisis surrounding the new coronavirus (Covid-19). 

The deferrals amount to an underlying credit volume of €6.9 billion for individual mortgage loans and €13.8 billion for business loans. More than three-quarters of deferrals for companies were allotted to SMEs and independents.

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The banks expect more requests for payment deferrals in the coming weeks. "These requests will always be dealt with as quickly as possible," Febelfin said. 

"The banking sector is calling on private individuals and entrepreneurs to contact their banks quickly" if they are facing payment problems. "The banks are ready to help them in word and deed," Febelfin said. 

Jason Spinks

The Brussels Times

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