Credit, Collections & Insolvency News
Unity Trust Bank has announced the appointment of Kiran Samra as its Chief Risk Officer. Samra started her career in finance and chartered accountancy 18 years ago at Deloitte, before moving to the Co-operative Bank, and then joining Unity in 2018 as Financial Controller. Samra has achieved a wealth of industry qualifications during her career,…
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Nearly half (49%) of UK SME decision makers are positive about the year ahead – rising from 43% this time last year – but ongoing tax and cost burdens continue to impact growth prospects and productivity, according to new research from Simply Asset Finance. Carried out ahead of the Autumn Budget, the research highlights that…
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As many as seven in ten (71%) high-value decisions made by UK businesses are based on incomplete or partial data, according to a new study from EY. The research surveyed 250 leaders of UK companies with revenues above £100 million. In the last year, of these companies’ high-value business decisions – defined as decisions involving…
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New figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) in September 2025 grew by 11% compared with the same month in 2024. In the nine months to September 2025, new business was 2% higher than in the same period in 2024. The…
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New research from Capital Economics, commissioned by SME lender iwoca, has found that SMEs receiving a loan can increase their monthly revenues by an average of 19%. The analysis is based on data from current accounts of thousands of iwoca customers, finds that taking a loan is associated with an increase in revenues of nearly a fifth (19%) within…
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Specialist lender, Afin Bank has appointed Rob Lankey as Director of Credit. Lankey has been in the industry for over 35 years, including executive roles at Norwich and Peterborough Building Society, Shawbrook Bank and GB Bank. He was also a founder and start-up team member of Aldermore and has served as Chief Executive Officer of…
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Retail footfall has declined for the sixth consecutive month, according to the British Retail Consortium (BRC). Total activity fell by 0.7% in October, led by drops in shopping centre and retail park footfall. Helen Dickinson, Chief Executive of the British Retail Consortium, said “While overall footfall fell for the sixth consecutive month, there was some…
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Hodge Bank has announced that it has appointed Scott Hill as its new Chief Technology Officer (CTO). Bringing with him a wealth of experience from some of the world’s leading technology and financial services organisations, Hill will lead Hodge’s technology strategy and digital transformation as the bank continues to invest in innovation and customer experience.…
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The Bank of England has maintained interest rates at 4% following a close vote by the Monetary Policy Committee (MPC). The rate-setting Monetary Policy Committee voted in a 5-4 split in favour of holding the rate, with four members preferring to cut rates by 0.25% to 3.75%. Commenting on the Bank of England’s decision to hold…
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New research by Purbeck Insurance Services has revealed that one in three SME loans has a personal guarantee (PG) in place. With 36% of these loans for working capital to keep the business afloat, Chancellor Rachel Reeves is being urged to avoid any further measures that would raise operating costs and increase the burden on…
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Simply Asset Finance has joined the National Association of Commercial Finance Brokers (NACFB) as a Patron lender, further strengthening its commitment to supporting professional brokers across the UK’s commercial finance sector with flexible, tailored SME lending products. Mike Randall, CEO of Simply Asset Finance said “Brokers are the backbone of SME lending in the UK. Their…
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The latest IoD Directors’ Economic Confidence Index, which measures business leader optimism in prospects for the UK economy, remained at historic low levels of -73 in October 2025, little changed from -74 in September, which was the lowest reading of the Index on record. Business leader’ confidence in their own organisations crept up to ±0,…
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Thousands of small businesses could close over the next year due to rising tax bills and falling revenues, according to an Federation of Small Businesses (FSB). survey. Thirty per cent of small firms expect to downsize or shut, while 55% report lower incomes. FSB’s Small Business Index (SBI) for Q3 shows overwhelming pessimism, with the…
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