March 13, 2020 / 12:00 PM / 25 days ago

UPDATE 1-Nordea eases mortgage conditions due to coronavirus

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HELSINKI, March 13 (Reuters) - Nordea Bank, the Nordic region’s biggest lender, said on Friday it would allow personal and business customers periods of up to six months when they would not have to pay mortgage instalments to cushion the impact of the coronavirus outbreak.

“Nordea is a very well-capitalised bank with a strong balance sheet and it gives us a solid platform to help our customers,” Nordea CEO Frank Vang-Jensen said in a statement.

Sweden’s central bank said on Friday it would lend up to 500 billion Swedish crowns ($51 billion) to Swedish companies via banks, moving to shore up credit flows as the coronavirus epidemic wreaks havoc on global financial markets.

Also on Friday, Norway’s central bank cut interest rates and lined up emergency loans for banks.

The European Central Bank rolled out a modest stimulus package on Thursday, offering a range of liquidity facilities aimed at businesses likely to be hit hard by the coronavirus. (Reporting by Anne Kauranen and Tarmo Virki; Editing by Jon Boyle and Barbara Lewis)

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