In the 1st quarter of 2017
Balance of loans and deposits dropped compared to the previous quarter, while the default ratio of non-financial corporations and households increased
According to the data released by the Bank of Portugal, at the end of the 1st quarter of 2017, the balance of credit granted to non-financial corporations located in the Autonomous Region of Madeira stood at €1.842 billion. The default ratio of this type of corporations increased to 19.3%, (total of €355 million), 3.8 percentage points (p.p.) higher than national average.
In the household sector, the balance of credit granted in the end of the reference period amounted to €2.960 billion, with the default ratio on bank loans to households increasing to 5.8% (up by 0.2 p.p. from the previous quarter). In Portugal, the value of this ratio was 4.7%. The defaulted loans of the households residing in the Autonomous Region of Madeira stood at €171 million, up by €3 million from last December.
Deposits and deposit like instruments in the local bank establishments of private individuals (including emigrants) reached a total of €3.5 billion at the end of the 1st quarter 2017, dropping by €36 million from the previous quarter, but increasing by €11 million from the end of March 2016.