Credit, Collections & Insolvency News
Irish bank, Permanent TSB has been reprimanded and fined €21 million by regulator, Central Bank of Ireland for regulatory breaches affecting tracker mortgage customers The fine to Permanent TSB was in respect of serious failings to 2,007 tracker mortgage customer accounts which were impacted for the period between August 2004 and October 2018. PTSB has…
Read moreCredit Insurance specialist Euler Hermes has issued its annual review and forecast of global average Days Sales Outstanding (DSO), based on a sample of 25,000 listed companies across 20 sectors and 36 countries. Days Sales Outstanding (DSO) is a measure of how long it takes companies to collect cash from customers. Euler Hermes’ study shows…
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The Central Bank of Ireland has reprimanded and imposed a fine on Bank of Montreal Ireland for breaching a condition of its banking licence by failing to submit three operational risk returns to the Irish Central Bank, and failing to establish and maintain effective processes and internal controls to ensure compliance with this regulatory reporting…
Read moreLatest figures released by the Registry Trust shows that the number of consumer debt judgements increased in Ireland during Q1 2019. There were 595 judgments registered against consumers in Ireland during Q1 2019, 26 percent higher than the same quarter of the previous year, according to figures released today (April 29 2019) by Registry Trust.…
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Latest figures released by the Registry Trust shows that the number of business debt judgements declined in Ireland during Q1 2019. The number, total value and average value of judgments registered against businesses in Ireland in Q1 2019 were the lowest on record for a first quarter-year, with 112 judgments registered, eight fewer than the…
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The Central Bank of Ireland has published its first SME Market quarterly market report for 2019. The SME Market Report monitors developments in the provision of credit to Irish Small and Medium Enterprises (SMEs) by financial intermediaries. The SME Market Report for 2019 found that: Gross new lending to SMEs declined 1.7 per cent in…
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Irish bank KBC has appointed Peter Roebben has been appointed as its new Chief Executive assuming the role from Wim Verbraeken, who will return to the Belgian bank’s head office in Brussels. Roebben, who is currently a senior general manager of group credit risk at KBC Group’s head office in Brussels During his 27-year career with KBC,…
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The Irish Central Bank of Ireland has published an analysis of over 4,500 applications for approval to occupy senior roles within regulated firms in Ireland (under the Fitness and Probity regime) in 2018. The Central Bank has committed to publishing this analysis on an annual basis as part of its continued focus on the importance…
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With established markets in Italy, Spain and Greece still at the at the forefront of investor’s attention for Non-Perfoming Loans (NPL) investment, there is increased appetite to seek out new markets according to a new research report from law firm Ashurst. The report, A Global NPL Perspective, compiled the views of senior executives across the…
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The European Parliament has published a new report on Late Payments. The report, drafted by Member of the European Parliament Lara Comi, is based on statistics from European credit management specialist Intrum’s European Payment Report 2018, and takes into account important findings of the yearly study. In response to the new report Intrum has said…
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Coface has shared its vision of the major trends in the world economy in 2019 with businesses at its annual conference. Coface says that an increasing number of pitfalls, such as escalating political risk, the high volatility of commodity prices, and supply constraints, began to slow world growth in late 2018 and cast a shadow…
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Lenders could find it much harder to enforce cross border debts in the event of a no deal Brexit, RSM has warned. Currently, European regulations facilitate the collection of cross border debts within the EU, notably through the use of European Enforcement Orders. These allow a judgment in one member state to be enforced in…
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The total number of judgments in 2018 against Irish businesses is at a record low, with business debt down 15 percent on last year. For the seventh consecutive year, the number of business judgments issued declined; 575 judgments were registered in 2018, a record low. Compared to 2017, the total value of business judgments fell…
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