In the 2nd quarter of 2014
Default ratios continued to grow; Deposits increased compared to the previous quarter
According to the data supplied by the Bank of Portugal, the balance of credit granted to non-financial corporations located in the Autonomous Region of Madeira reached €4.1 billion in the end of the 2nd quarter. The default ratio of this type of corporations peaked to 17.4%, 3.5 percentage points (p.p.) higher than in Portugal.
In the household sector, the balance of credit granted in the end of the reference period amounted to €3.3 billion, with the default ratio on bank loans to households increasing to an historical record of 5.4% (0.7 p.p. higher than in Portugal).
The loans in default generated by non-financial corporations amounts to €712.2 million, while the households are responsible for €177.6 million.
The number of borrowers in Madeira’s households decreased by 0.8% vis-a-vis the previous quarter to a total of 103,929.
Deposits and deposit like instruments in the local bank establishments reached a total of €5.3 billion in the end of the 2nd quarter, -6.5% less than a year before but 0.6% more than in the end of march 2014.