Credit, Collections & Insolvency News
The total number of judgments in 2018 against Irish consumers is at a record low, with consumer judgments down eight percent. However, the value of consumer judgments rose by 22 percent in the same year. There were 1,985 judgments registered against consumers in 2018, eight percent fewer than the previous year and a record low.…
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The Irish Central Bank has published the penultimate update on the Tracker Mortgage Examination, showing that, at end-2018, lenders had paid out €647 million to customers affected by their failings. This is an increase of €67 million since end-August. The update also showed that an additional 1,400 affected customers have been included by lenders for…
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The Financial Conduct Authority (FCA) has today set out how it would use the temporary transitional power in the event the UK leaves the EU without a withdrawal agreement. The Treasury has put forward draft legislation that would make transitional provisions if the UK leaves the EU without a withdrawal agreement. This is intended to minimise the disruption for…
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Graydon, a provider of business data, insights, analytics and data-solutions has announced that the business is to launch in Ireland. Graydon has appointed Jonathan Cushley to spearhead its strategic growth in Ireland, where he will be focused primarily on Graydon’s innovative new onboarding platform, an AI-based, turnkey solution that simplifies credit, fraud and compliance processes…
Read moreBusinesses continue to have the same concerns for the next twelve months as they did in 2018, according to research from ICAEW. Uncertainty about the UK relationship with the European Union (EU) remains the biggest challenge. Other expected challenges are also UK related, such as slowing UK economic growth, rising UK inflation, plus the lack…
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The European non-performing loan (NPL) market reached a new peak in 2018 with disposals totalling EUR 205.2bn in gross book value (GBV), according to the new European NPL FY 2018 report, published by Debtwire ABS. Debtwire NPL Database tracked 142 transactions. The last quarter saw a particularly intense pace of activity, given that at the…
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Analysis from Equiniti, the FTSE-listed share services and fintech business, of UK Finance statistics shows that continued Brexit uncertainty is having the biggest impact on the smallest businesses in relation to asset based lending and invoice finance borrowing. The figures show that total advances to businesses with a turnover of less than £1 million a…
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The Central Bank of Ireland has published its latest residential Mortgage Arrears & Repossessions Statistics from Quarter 3 2018. The figures have revealed that the number of family homes being repossessed has fallen, with the improving economy helping to cut the number of mortgages in arrears. The figures show 191 homes were repossessed in July…
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KBC Bank of Ireland has completed the sale of €1.9 billion worth of mostly non-performing buy-to-let and corporate loans that were held by its Irish unit, to Goldman Sachs. The sale, first announced in August, will have a positive impact on KBC’s profit and loss account. It will reduce KBC’s non-performing loan ratio, according to…
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Irish bank, Permanent TSB (PTSB) has announced that it has agreed to sell a 1.3 billion euro portfolio of problem mortgage loans in a securitisation deal, to help reduce its bad debt level to below 10 percent. PTSB has been trying to reduce its exposure to non-performing loans (NPLs) and focus on providing services for…
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European credit management firm Intrum, has published a new European Consumer Payment report based on a survey with responses from 24 398. European consumers. Intrum, who are in contact with 250 000 indebted consumers around Europe every day, sees a widening gap in the wake of a rising economy. While more and more people are able…
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New Irish association The Receivables Management Services Association (RMSA) has released the first review of the Irish collections industry. The Review looks at the size of the current market, the debt levels in the SME sector and the reasons why more businesses are not using the services of collections companies. The review (launched in partnership with…
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The number of business debt judgments registered in the Republic of Ireland during the third quarter of 2018 fell to the lowest levels on record for any third quarter, according to figures released today by Registry Trust. In Q3 2018, 137 business judgments were issued, 10 percent fewer than Q3 of last year and the…
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