Credit, Collections & Insolvency News
Three Irish Credit Unions in South Dublin have announced that they will merge in a move that will create one of the top 10 community lenders by size. The merger of Capital, Francis Street and St Kevin’s has been ratified and means that the new combined entity will have 48,000 members. Capital has already taken over…
Read moreThe formal launch of the new Republic of Ireland Branch of the Chartered Institute of Credit Management (CICM) will take place at Croke Park on 17th September. The day will commence with a best practice conference featuring topics such how the CICM will support credit managers in the country, the role of Artificial Intelligence and…
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Irish bank permanent tsb (PTSB) has announced that it has agreed to sell a Non-Performing Loan (NPL/) portfolio to retail credit firm Start Mortgages DAC supported by LSF Irish Holdings 97 DAC, both affiliates of the Lone Star Funds. Start Mortgages has been authorised by the Central Bank of Ireland since November 2008 and will become the…
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The number of business debt judgments registered in the Republic of Ireland has decreased, according to the latest figures released by Registry Trust. A decrease in the volume of business judgments, coupled with a 16 percent drop in the average judgment’s value led to a 39 percent fall in the total value of business judgments. The…
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The number of consumer debt judgments registered in the Republic of Ireland fell to the lowest total since modern records began in 2008, during the first half of the year, according to figures released today by Registry Trust. Nine hundred and thirty judgments were issued against consumers during Q1 and Q2 2018, 17 percent fewer…
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The Central Bank of Ireland has publishised its third report on the financial condition of the credit union sector. Data focuses on trends in the period 31 March 2013 to 31 March 2018, including analysis by credit union asset size and common bond type. The primary focus of this publication is to provide analysis of data…
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The Central Bank of Ireland has published the Behaviour and Culture Report into the five main Irish retail banks – AIB Group, Bank of Ireland Group, permanent tsb, Ulster Bank Ireland and KBC Bank Ireland. The report, involving reviews conducted by the Central Bank in collaboration with the Dutch Central Bank (De Nederlandsche Bank –…
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The head of Ireland’s debt management agency has issued a stark warning about the country’s indebtedness, saying the bank stakes should be sold down sooner rather than later. National Treasury Management Agency (NTMA). Chief Executive Conor O’Kelly said that we are reaching the peak of the investment cycle and the risk of a material fall…
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Callcredit has launched a new and unique multi-bureau data solution in Ireland. Recently acquired by TransUnion, which has offices in Cork, Callcredit is already partnering with leading Irish businesses to help them make more informed assessments of consumers’ affordability and risk when it comes to providing credit. Combining data from multiple sources, including the Irish…
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The Irish Central Bank has released its latest money and banking statistics for May 2018 indicating that loans to households for consumption purposes grew by 1.2 per cent in the year to end-May. Other highlights from the report include: · Loans to households, adjusted for loan sales and securitisations, declined by 1.6 per cent in…
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New research of annual B2B payment practices research conducted by global credit insurer Atradius show an increasing level of deterioration in payment practices in the Americas. The report also highlights: Average payment duration increased from 61 days in 2017 to 63 days in 2018. On average, 90.3% of respondents frequently experience late payments (the average is…
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A new report by Coface has found that that there is a high number of signals of risk in Q2 2018, which is reminiscent of the situation in the years 2012-2013 when the rise of sovereign spread in the Eurozone, increased protectionism, higher oil prices, capital outflows from major emerging countries, global trade on the…
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Ireland’s Central Bank has fined St Canice’s Kilkenny Credit Union €210,000 and reprimanded it for eight breaches of the Credit Union Act following an investigation. The breaches have been admitted by the firm and the enforcement action has been concluded by way of settlement agreement between the parties. The Central Bank’s investigation found governance and…
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