The bank will offer short-term liquidity to guarantee business continuity and funds for the sectors affected by this crisis.
Santander will analyse the need for special financing of any of its customers affected by this health emergency.
Madrid, 10 March 2020 - PRESS RELEASE
Santander Spain has activated the business aid protocol and will offer SMEs and self-employed workers a liquidity facility of pre-approved loans amounting to EUR 20 billion, with interest due within one year. With this short-term liquidity facility, the bank will help to mitigate the impact that containment measures to protect the population against the coronavirus contagion may have on the economy and normal business operations. It will also offer affected companies more flexibility in cash flow management.
The bank is also committed to analysing customers’ needs for funding, irrespective of their sector of activity.
Rami Aboukhair, chief executive officer of Santander Spain, said: “In these uncertain times, Santander wishes to be close to Spanish companies, especially SMEs, by supporting them and looking for solutions to their potential problems. We are their bank, the bank for SMEs, because we are with them whatever the situation.”
As a responsible bank, Santander’s priority is to protect the health of its employees, customers and shareholders and to help them with any difficulties they may face as a result of this health issue.
Since the current health emergency arose, the bank has been monitoring the situation and has activated all necessary protocols and actions to mitigate its possible effects.