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Santander: Moratoria took the right amount of time and didn’t hurt customer base

“A good measure, at the right time, that lasted just the right time.” That’s what Miguel Belo de Carvalho, director of Santander Totta, answered when asked about credit default during the Money Conference, which started this Thursday, at the Lapa Palace Hotel in Lisbon. From the bank’s point of view, the measure, introduced by the government in March 2020 to protect the families and businesses most affected by the effects of the pandemic, had no “negative impact on the customer portfolio”, the bank assured. civil servant.

As a result of the policy rate hike to 2% announced by the European Central Bank on October 27, the Executive approved a measure requiring banks to renegotiate housing loan contracts. This is because the Euribor rate applied to this type of loan is increasing day by day, increasing the monthly payments of consumers. For the administrator, this is an “important measure”, which reinforces “the measure in force since 2012” and which “banks have applied on a permanent basis, when warranted” over the past ten years.

Author: Cash

Source: DN

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