Danske Bank said that it would offer up to six months mortgage loan repayment holiday due to coronavirus situation. The bank also offers changes to its corporate customers' payment programs, increases in credit limits or other working capital limits for corporate customers.
Aktia announced that it would offer to its customers (both corporate and private) up to eight months loan repayment holiday due to coronavirus. In addition, Aktia provides support to corporate customers if needed to solve the cash crisis through working capital and liquidity financing.
Nordea announced that it would offer its customers a loan deferral due to the coronavirus. Nordea will grant a break from the instalments at a maximum period of six months. For small and medium-sized companies, Nordea offers a three-month break period.
OP Financial Group announced that it would allow to households, small and medium sized enterprise’s (SME) to defer credit payments if the corona pandemic has affected customers' ability to pay.
According to Bank of Finland statistics:
- OP Financial Group's market share of Finnish housing loan portfolio is 40%
- Nordea holds 29%
- Danske Bank 11%
- Aktia 4%
The relief is needed because the spread of coronavirus has hit not only health but also the economy of many individuals and companies. In order to slow down the spread of the virus, authorities have advised people to avoid group gatherings and travel. Many companies are in risk of crash because of reduced demand or cancellations of orders. Workers are in financial difficulties if they lose means of subsistence due to business failures or to laid off.
The full information and the source text can be found at talouselama.fi.
Published 16.03.2020, FINREPO