The Bank joins two others, BCP and the Novo Banco, which decided to anticipate payments to strengthen the liquidity of the companies with which they work.
Santander Totta will now pay all suppliers promptly to reinforce the liquidity of the companies with which it works. The bank, which announced the decision this Thursday, joins BCP and Novo Banco, as well as EDP.
“To help the companies’ treasury in this difficult phase, Santander will pay its suppliers promptly, requesting the invoice to be sent through digital means,” Santander announced.
“This measure reinforces a set of others that Santander has been implementing to support the economy and minimize the negative impacts caused by Covid-19, with special focus on the treasury and liquidity of its customers,” the bank said.
Alongside the banks, other large companies are changing the way they pay suppliers. This is the case of EDP, which has also announced that it will anticipate to April the payment of over 30 million euros to 1,200 suppliers.