Netherlands- Researchers at ING, the prominent Dutch bank, acknowledge that while many families were able to save a little extra during the pandemic.
The impact of the Covid-19 pandemic has been immense, affecting millions of people around the globe.
It has also impacted governments, economies, supply chains and jobs, turning people’s lives and their livelihoods upside down.
Researchers at ING, the prominent Dutch bank, acknowledge that while many families were able to save a little extra during the pandemic, 71 percent of the savings accumulated over the last year and a half have been in the bank accounts of “richer households.”
ING economists attribute this to the fact that households could put away money that would typically be spent on small luxuries, like meals out with friends or family holidays, while households in a less fortunate position used their cash to pay outstanding bills.
With cinemas, restaurants, and shops closed, events cancelled, and holidays off the table, it seems that the people of the Netherlands saved 22 billion euros more than normal since the outbreak of COVID-19 last spring.
Below are just some of the measures ING introduced worldwide to help customers:-
Payment deferrals on mortgage loans, personal loans, credit cards and business loans for small and medium-sized companies.
These measures differ from country to country.
Higher limits for contactless payments and free use of ATMs in certain countries.
Financing solutions to help companies bridge their short-term liquidity needs.
Debt-relief initiatives with public and private partners and online training for customers in financial difficulty.
ING global and local crisis teams keep a close eye on developments and make sure they follow the highest health and safety standards in their offices and branches.
This includes restricting business travel to high-risk countries when necessary, maintaining social distancing and limiting the number of people in meeting rooms and common areas.
You can also read the coronavirus – ING response booklet via this link https://www.ing.com/web/file?uuid=5b2014d6-c404-4912-b403-794ac916a9f6&owner=b03bc017-e0db-4b5d-abbf-003b12934429&contentid=51551
Article Source link – https://www.iamexpat.nl/expat-info/dutch-expat-news/netherlands-saved-extra-22-billion-euros-during-coronavirus
