One in every five Portuguese companies is failing on its bank loan repayments, the result of which has now accumulated to an estimated €6 billion, according to a statistic’s bulletin released this week by the Bank of Portugal.
Figures published on Wednesday revealed that unpaid debt continues to grow in Portugal, and that by the end of this first quarter of 2011, 22 percent of companies with loans had failed to meet the repayments. This is a rise of 1.3 percent in comparison to the 20.7 percent of indebted companies registered at the end of 2010.
From the total of over €119 billion loaned by banks to non-financing companies, the ratio of credit earned is more than five per cent, or €5.9 billion.
Fourteen point two percent of families are behind on loan payments (5.5 percent regarding mortgages and 15.7 percent regarding personal loans), whereas at the end of last year that figure was 13.8 percent.
This translates as Portuguese families owning more than €5 billion to banks.