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In the 2nd quarter of 2021 

Default ratios of the non-financial corporations and households decreased, while the balance of credit granted increased from the previous quarter 

According to the data released by the Bank of Portugal, at the end of the 2nd quarter of 2021, the balance of credit granted to non-financial corporations located in the Autonomous Region of Madeira stood at 2.0 billion euros, 112.5 million euros higher than at the end of June 2020 and up by 22.3 million euros over March 2021.  

The default ratio of this type of corporation decreased by 1.4 percentage points (p.p.) over the previous quarter, standing at 2.2% at the end of the reference period. Compared to the same quarter of the previous year, there was a 3.5 pp reduction. It should also be noted that this ratio is the lowest since April 2009. On a national level, the ratio of the overdue loan also decreased by 0.4 pp from the previous quarter and by 1.2 pp over the same period of the previous year, standing at 2.9% at the end of the 2nd quarter of 2021. The last time the regional rate stood below the national rate was in February 2014. The amount of non-performing loans within non-financial corporations headquartered in the Region stood at €43.3 million in the reference period (- €28.0 million than last March and - €63.0 million compared to June of the previous year). 

The percentage of borrowers in the non-financial corporations sector with non-performing loans at the end of June 2021 was 14.7% and this indicator has remained below the national average (15.5%) since July 2020. However, in June 2020, the difference between the Region and the country was 0.6 pp (unfavourable to the Autonomous Region of Madeira). 

In the Household and Non-Profit Institutions Serving Households (NPISH) sectors, there was a year-on-year increase of 28.4 million euros in the balance of loans granted, bringing the balance of loans to this institutional sector in June 2021 to 3.2 million euros. When comparing the balance at the end of the second quarter of 2021 with that of the previous quarter, there was also an increase of approximately EUR 14.2 million. 66.5% of the balance of credit granted was related to the “housing” segment and the remaining 33.5% to “consumption and other purposes". 

Overdue loans in the housing segment did not exceed 15.4 million euros, representing a ratio of 0.7%, just 0.6 pp above the national value. Compared to June 2020 this ratio dropped by 0.1 pp in the Region. 

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