Credit, Collections & Insolvency News
Ireland’s Central Bank has published its latest mortgage arrears statistics from Quarter 1 of 2018. Highlights include: The number of mortgage accounts for principal dwelling houses (PDHs) in arrears over 90 days continued to decline in Q1 2018, marking the eighteenth consecutive quarter of a fall in the number of accounts in this category. While the…
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Businesses in the UK have reported decreasing bad debt losses in a sign of a strengthening economic environment. On average, businesses wrote off 2 percent of annual revenue due to non-payment in the past 12 months; a decrease from the 4.7 percent reported by UK companies in 2017. The findings are part of the European Payment…
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As a strong sign of a stable economic development in the majority of Europe, businesses are reporting decreasing bad debt losses. On average, 1.7 percent of the yearly revenue had to be written off due to non-payments in the past 12 months; a decrease compared to the 2.14 percent reported by European companies in 2017…
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The latest credit and debit and credit card statistics have been released by Ireland’s Central Bank. The statistics indicate that debit card Point of Sale (PoS) transactions in March 2018 were €2.9 billion, 5percentt higher than the same month in 2017. Debit card PoS transactions accounted for 55 per cent of gross new transactions on…
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New research by Intrum suggests that GDPR is unknown to more than one out of four European businesses. The report shows that 27 percent of all businesses in Europe state that they have not heard of GDPR. The report also indicates that every eight (12 %) large corporation, defined as companies with more than 250 employees,…
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Ireland’s Central Bank has released its latest money and banking statistics for March 2018. The figures show that lending for house purchase increased by €184 million. This represents the fifth consecutive month of positive annual growth. Other highlights include: Developments in Household credit and deposits Loans to households, adjusted for loan sales and securitisations, declined…
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The total value of consumer debt judgments registered in the Republic of Ireland topped €100m in Quarter 1 of 2018, for the first time during a single quarter since Q3 2015, according to figures released today by Registry Trust. Four hundred and seventy-one judgments were issued against consumers during the first quarter of the year,…
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Latest figures from the Registry Trust have indicated that there has been a decrease in the volume of business judgments in Ireland. In Quarter 1 of 2018 there 120 business judgment issued, 36 fewer than in the same quarter of the previous year. This is coupled with a 37 percent drop in the average judgment’s…
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The Irish Central Bank has published its April update on the Tracker Mortgage Examination, showing that, at end-March, banks and smaller lenders had paid out €459 million to customers affected by their failings. This is an increase of €162 million since the December update on the Examination. The update also showed that an additional 3,400…
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Avantcard has announced that it will acquire Tesco Bank’s Irish credit card portfolio for an undisclosed sum. About 27,000 customers of its banking unit, Tesco Bank, to be transferred to Avantcard as a result of the agreement, which is subject to regulatory approval. The transition is expected to be carried out by autumn. The terms of…
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Sharon Donnelly, Deputy Governor, of Ireland’s Central Bank has highlighted the progress made to date in tackling non-performing loans (NPLs) in Ireland, though notes the significant complexity in dealing with the outstanding arrears cases. This comes in a signed article co-authored with Trevor Fitzpatrick, Darren Greaney, Fergal McCann and Mícheál O’Keeffe and published as part…
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Ireland’s Central Bank has released its latest money and banking statistics for February 2018. The loan-to-deposit ratio for households stood at 0.90 in February, equalling the previous series low, with household deposits exceeding household loans by 10.2 billion. The decrease in this ratio in recent years has occurred due to deposits reaching near series highs, while…
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An Economic Letter by Martina Sherman, Tiernan Heffernan and Bryan Cullen provides, for the first time, comprehensive data on the personal contract plans (PCPs) market in Ireland. The data was compiled following a survey of all lenders in the PCP market by the Central Bank statistics division to provide a reliable data source on the…
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