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In the 1st quarter of 2022

Default ratios of the non-financial corporations and households decreased year-on-year, while the balance of credit granted increased

According to the data released by the Bank of Portugal, at the end of the 1st quarter of 2022, the balance of credit granted to non-financial corporations located in the Autonomous Region of Madeira stood at 2.1 billion euros, 98.6 million euros higher than the end of March 2021 and up by 21.7 million euros over December 2021.

The default ratio of this type of corporation increased by 0.4 percentage points (pp) compared to the end of 2021, standing at 2.4% at the end of the reference period. Compared to the same quarter of the previous year, there was a 1.2 pp reduction. On a national level, the overdue loan ratio also decreased by 0.1 pp from the previous quarter and by 1.1 pp over the same period of the previous year, standing at 2.2% at the end of the 1st quarter of 2022. The amount of non-performing loans within non-financial corporations headquartered in the Region stood at 49.0 million euros in the reference period (+8.1 million euros compared to last December and -22.3 million euros compared to March of the previous year).

The percentage of borrowers in the non-financial corporations’ sector with non-performing loans at the end of March 2022 was 14.4%, with this indicator remaining below the national average (15.0%) since July 2020.

In the Household and Non-Profit Institutions Serving Households (NPISH) sectors, there was a year-on-year increase of 62.6 million euros in the balance of loans granted, bringing the balance of loans to this institutional sector in March 2022 to 3.2 million euros. When comparing the balance at the end of the 1st quarter of 2022 with that of the previous quarter, there was also an increase of approximately 35.5 million euros. 67.5% of the balance of credit granted was related to the “housing” segment and the remaining 32.5% to “consumption and other purposes".

Overdue loans in the housing segment did not exceed 11.9 million euros, representing a ratio of 0.5%,  thus maintaining the historical minimum for the available time series, which began in March 2009. This percentage is slightly above the national figure (0.4%). Between March 2021 and March 2022, the ratio of non-performing housing loans fell by 0.3 pp in the Region.

The number of borrowers in the Household and Non-Profit Institutions Serving Households (NPISH) sectors grew from the previous quarter to 100.1 thousand, 44.4 thousand borrowers with housing loans and 83.5 thousand with consumer credit and other purposes.

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