Banks’ support to businesses in times of corona amounts to 33 billion euros this year

Since the Corona crisis outbreak in March, the Dutch banks have, in addition to the support package by the government, offered temporary financial relief to 172,000 entrepreneurs. A total of 33 billion euros has been made available (an increase from 30.6 billion four weeks ago) through the postponement of repayments and the provision of additional credit to companies. The details are displayed in the last factsheet of this year, published today by the Dutch Banking Association (NVB).


Over 42,000 businesses have received a new credit, with a combined value of 29.9 billion euros. Over 6500 loans have been provided with a government guarantee. Altogether, 1.8 billion euros has been made available through the different corona guarantee schemes, such as the Corona SME credit guarantee scheme (BMKB-C), the finance guarantee (GO-C) and the Small Credits for Corona guarantee scheme (KKC). So far, 129,000 companies have received a postponement of loan repayments from their bank: totalling 3.1 billion euros.

Corona Monitor English (pdf)
Corona Monitor English (jpg)

Chris Buijink, President of the NVB: “We understand that the lockdown has caused a shock to many entrepreneurs. In this period, many expected to make up for earlier turnover losses as a result of the Corona crisis. Banks want to support their clients during this difficult time and they keep a close eye on how they are doing. We welcome the additional support measures that the government has taken to support companies that are facing economic hardships. Banks have a wide range of options for providing assistance to businesses, all depending on the situation of the business. This includes  additional financing, tailored to the effects of the Corona crisis, such as the as the Small Credits for Corona guarantee scheme (KKC), the Corona SME credit guarantee scheme (BMKB-C) and the finance guarantee (GO-C). Where necessary, banks can also offer additional repayment postponements for companies which are at the core healthy. Banks stand ready to discuss these options with their customers also around the holidays.”

“The last Corona Monitor of this year shows that banks have done everything that was possible this year to support businesses and consumers with additional funding. I am grateful that banks have managed to do this in close collaboration with the government and our social partners,” says Buijnk.

So far, almost 37,000 consumers received a pause for their mortgage payment or personal loan. In most cases this concerns a payment break of one to three months. This totals a combined value of 88 million euros (this number remained unchanged in the last three weeks). Consumers who want to receive a payment break for mortgage interest relief should notify this to their mortgage provider by 1 April 2021.

A payment break for a mortgage or consumer loan is a temporary relief solution that allows, for example, loss of income to be cushioned for several months. However, if customers foresee a more structural payment problem, for example due to unemployment, it is wise for them to (re)enter into a conversation with their bank. Together with the customer, the bank will look for a suitable and more long-term solution which is tailored to the specific situation of the customer. An important principle is that banks want to protect customers against financial burdens which they ultimately cannot bear.

For previous Corona Monitors please visit this page