Credit, Collections & Insolvency News
Lindorff/Intrum Justitia would be interested in buying an Italian bank’s debt collection business to expand in the country, the head of the Scandinavian group’s Italian unit said. Antonella Pagano Lindorff/Intrum Justitia’s Managing Director for Italy, said “We would like to be among the top three players in the Italian market in three-to-five years’ time. Buying…
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New figures released tby the Finance & Leasing Association (FLA) show growth of 13% in consumer finance new business in July, compared with the same month last year. Credit card and personal loan new business together grew by 16% compared with July 2016, while retail store and online credit new business increased by 11%. Second…
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Arrow Global Group has announced its latest interim results for the six months to 30 June 2017. Highlights include: · Strong organic portfolio purchases up 30.3% to £125.1 million (H1 2016: £96.0 million) · Revenue growth of 47.6% supported by 11.3% increase in core collections and 98.6% increase in Asset Management income from H1 2016…
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Debt Purchaser, Motormile Finance (MMF) have been awarded a Silver rating for ‘outstanding’ customer service – from Investors in Customers (IIC). IIC, a customer experience consultancy, surveys customers, staff and senior management to assess how well a business understands its customer needs and how well it delivers services that meet those needs. Denise Crossley CEO…
Read moreThe Central Bank of Ireland has released Ireland’s Money and Banking Statistics for July 2017. Here is an overview of the main findings. NFC lending now stands at the lowest level since the series began. However, medium and long-term lending have both been positive on an annual basis for two consecutive months, which masks the substantial…
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Debt Purchaser, Arrow Global Group has agreed term with the potential acquisition of Mars Capital UK and Ireland, a leading UK and Irish mortgage servicing businesses, for an enterprise value of £15.5 million. The acquisition further strengthens Arrow Global’s asset management capabilities, while providing a strategic entry into Ireland, a new market for the Group…
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The growth in borrowing by consumers appears to be slowing amid a squeeze on households according to the Bank of England’s latest consumer statistics. The annual rate of growth for consumer borrowing through credit cards, overdrafts and personal loans decreased to 9.8% in July, the lowest rate of expansion since April 2016. The growth rate…
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UK debt purchaser, 1st Credit has achieved gold standard from Investor in Customers (IIC) for ‘exceptional’ customer service for the fourth year running. 1st Credit, part of Intrum Justitia Group, increased its scores across the board – from customers, staff, management and independent assessor IIC. The company achieved an overall score of 8.86 out of…
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Cabot Credit Management (CCM), a market leader in European credit management services has announced the financial results for the six months ended 30 June 2017. Ken Stannard, Chief Executive Officer, CCM said “Cabot continued to deliver on its track record of consistent growth with a strong start to 2017. Our Adjusted EBITDA for the first…
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Debt Purchaser, Cabot Credit Management has entered into an agreement to acquire FCA-authorised Wescot, a leading UK contingency debt collection and business process outsourcing (BPO) services business. The acquisition is Cabot’s second this year, in the UK following the investment in Orbit Services, a specialist in the public utilities debt servicing market. In total Cabot has…
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Hoist Finance has announced that Najib Nathoo, Regional Director West Europe, will leave. Nathoo has worked with the company since 2012 and been a member of Hoist Finance Executive Management Team since 2015. Jörgen Olsson, CEO Hoist Finance said “Najib has played an important role in the evolution of Hoist Finance over the years, from…
Read moreDeceased account management specialist, Phillips & Cohen Associates has appointed Bob Bednar as SVP Consumer Communication & Digital Strategy. Echoing the theme of the recent CFPB guidance on consumer contact strategies, the group has appointed Bednar to lead its digital innovation agenda. Mr. Bednar is a recognized consumer communications & marketing specialist with over 20…
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Lowell has announced changes to its Group Executive team. Current Group Chief Risk Officer, Sara de Tute, has been appointed to the UK Board as a new Non-Executive Director (NED), she will be succeeded by Laurence Bogni-Bartholmé, who joins the Group from Wells Fargo. After five years with Lowell, current Group CRO, Sara de Tute,…
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