Gafi, despite the pandemic, guaranteed thousands of loans to businesses

twelve o’clock, April 23, 2021 – 10:15 am

President Caputo: “The dramatic scenario of 2020, a year in which, however, we were especially close to the small and medium-sized businesses of our territory”

Despite the economic difficulties caused by the pandemic, Gafi Sud – the credit guarantee organization supervised by the Bank of Italy – has managed to accelerate the transformation process, in search of more agile and streamlined solutions for businesses. The results were also highlighted during the shareholders’ meeting to approve the 2020 budget. “Despite a dramatic scenario – said the president, Rosario Caputo – during 2020 we guaranteed crucial support to businesses, especially smaller ones. , which risked being cut off from the credit market after the wave of the pandemic. We have launched new service activities and new business areas such as direct loan disbursements, subsidized finance, innovative and technological finance, as well as advanced and complex business consulting tools. In light of the changes taking place, we can claim to play a complementary role to credit institutions, especially when all the measures implemented by the State, moratoriums and guaranteed loans, will cease, supporting and supporting the thousands of SMEs towards access to credit that I like to define as “more democratic”, which, it should be pointed out, does not mean giving money to anyone who requests it ».

In a difficult year for the economy, Gafi renounced the commissions on the first moratorium and reduced the price lists by 50%, for a value of half a million, supporting an extraordinary effort in the management of 524 suspensions or extensions for an amount of about € 64 million, and in the management of over 1000 requests for financing, for an amount of 50 million euros. In relation to the quality of credit, significant improvements were recorded with the rationalization of the portfolio and the management of litigation, which reduced the non-performing positions by 50%. Furthermore, Gafi has liquidity that is eight times higher than the amount of net “bad loans” and about six times the amount of all net “impaired” positions.

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Furthermore, in 2020, GA.FI. was awarded a new measure of the Campania Region “Negotiating Financial Instrument – Confidi Guarantee”, which provides for the allocation of resources for 9 million to guarantee the granting of loans for € 72 million in favor of companies located in the crisis areas of Campania and making investments.

April 23, 2021 | 10:15

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