Statistical Press Release – International banking statistics on a consolidated basis – 4th quarter of 2020
These statistics examine the international exposure of banks having their head office in Portugal from two different counterparty basis : (i) immediate — exposure to the countries of residence of agents that have directly signed an agreement with the bank and are immediately responsible before it; and (ii) ultimate — exposure to the countries of residence of the agents that guarantee compliance with the agreement instead of the entity that signed it, reflecting the fact that a third party ultimately guarantees compliance.
At the end of 2020, the immediate exposure of claims of Portuguese banks stood at €85.4 billion, leading to an increase of €2.4 billion compared to the end of 2019.
The ultimate exposure of Portuguese banks increased €2.2 billion, reaching €86.1 billion of claims, at the end of 2020.
Of these claims, 73% were located in the European Union. This percentage reflects an increment of €1.3 billion and €1 billion, in terms of immediate exposure and ultimate exposure, respectively, compared to the last quarter of 2019.
The difference between the ultimate and immediate exposure (in the amount of €0.8 billion) corresponds to a net risk transfer from Portugal to the rest of the world. Compared to the end of 2019, this value has registered a reduction, which reflects a decrease in the bank claims on Portuguese entities that are guaranteed by non-resident entities (Chart 1).
The ultimate exposure vis-à-vis European Union Member States and the BRICS continued to exceed the immediate exposure (Chart 2).
Conversely, with regard to Portuguese-speaking African countries, the immediate exposure of Portuguese banks was higher than their ultimate exposure: part of their claims on entities residing in this group of countries was guaranteed by entities residing in other countries (Chart 2).
Next update: 14 Jul. 2021