In September 2019

Default ratio of non-financial corporations decreased from June

Banco de Portugal (BoP) made available last November a completely revamped official statistics website. This also led to changes in the set of information available for the Autonomous Region of Madeira on loans and deposits. Presently, information by municipality as well as deposits data are no longer available.

The table that used to refer to the Household Sector now also includes the NPISH - Non-Profit Institutions Serving Households. The data for these Sectors and for non-financial corporations are now monthly, referring to the end of every month. Despite this, DREM will maintain the release of data on a quarterly basis.

Another important change is that in the previous system, the relevant criterion for the imputation of operations was the location of the branches responsible for the operations. In the current system, the information provided considers the location of the debtors' residence.

Considering the above, DREM has reformulated the tables of this domain, with the perspective that new information will be available next year.

According to the data provided by BoP, at the end of September 2019, the balance of credit granted to non-financial corporations located in the Autonomous Region of Madeira stood at 1,608.4  million euros, down by 3.7% year-on-year. The default ratio of this type of corporations dropped to 11.9%, remaining 5.5 percentage points (p.p.) above national average.

In the household and NPISH sectors, the balance of credit granted at the end of the reference period amounted to 3,363.1 million euros in last September, down by 1.3% from the end of the same month in the previous year. 62.8% of that balance related to the “housing” segment and the remaining 37.2% to “consumption and other purposes. Compared to September 2018, the balance of loans granted in the first segment decreased by 1.9%, while in the case of the second segment, there was a 0.4% drop.

Household and NPISH debtors amounted to 97.2 thousand as of September 2019, showing an upward trend over the past year, driven by the increase in borrowers for “consumer and other purposes”. The overall growth was 3.5% year-on-year, and in this particular segment it reached 5.5%. In the “housing” segment there was a decrease of 3.7%.

Overdue in the housing segment did not exceed EUR 31.6 million, representing a ratio of overdue loan ratio of 1.5%, slightly above the national value (1.1%).

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