Credit, Collections & Insolvency News
The Central Bank of Ireland has fined Intesa Sanpaolo €1,000,000 and reprimanded it for four breaches of the Criminal Justice (Money Laundering & Terrorist Financing) Act, 2010 (the ‘CJA 2010’). Intesa admits the four breaches. The Central Bank’s enforcement investigation identified significant failures in Intesa’s controls, policies and procedures in respect of anti-money laundering and…
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BDO, liquidators of Irish Charleville Credit Union have put its premises and loan book up for sale, with half a dozen credit unions already eager to acquire the loans. The loan book is said to have a gross value of €14million. However, it is understood that only around €8m worth of loans are performing. Charleville…
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Following an application by the Central Bank of Ireland, the High Court has appointed liquidators to Charleville Credit Union. The Central Bank decided to use its legal power to apply for the winding-up of Charleville having given due consideration to the circumstances detailed in the Resolution Report and Wesley Murphy’s affidavit. These documents detail breaches…
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The Central Bank of Ireland has made an application today to the High Court to have provisional liquidators appointed to Charleville Credit Union . David O’ Connor and Jim Hamilton of BDO were appointed as joint provisional liquidators. The Central Bank has made this application as it has formed the view that Charleville Credit Union …
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The merger of Intrum Justitia and Lindorff was completed in June and following from the announcement the company has consolidated the two companies by introducing a new corporate identity and brand name: Intrum. Mikael Ericson CEO and President of Intrum said ”Intrum is the undisputed market leader. This presents new opportunities for growth through joined…
Read moreAIB Group, the Irish Mortgage Holders Organisation(Irish Mortgage Holders Organisation) and iCare Housing has announced a joint initiative aimed at keeping customers in difficulty with their mortgage, and who qualify for social housing, in their own homes. iCare Housing, a not-for-profit Approved Housing Body was set up for the purpose of providing and managing social…
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Patrick Casey has been appointed Registrar of Credit Unions in the Central Bank of Ireland. Casey is currently Head of Resolution in the Central Bank. He will be responsible for the regulation and supervision of the credit union sector in Ireland and succeeds the previous Registrar Anne Marie McKiernan who has recently become Ireland’s representative…
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The Bank of Ireland has released its latest arrears and repossessions statistics. The Residential Mortgage Arrears and Repossessions Statistics for Q2 highlights indicate: The number of mortgage accounts for principal dwelling houses (PDH) in arrears fell further in the second quarter of 2017; this marks the sixteenth consecutive quarter of decline. A total of 73,706 accounts…
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The 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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The Central Bank of Ireland has released Ireland’s Credit and Debit Card Statistics for Q2 2017. Here is an overview of the main findings. Debit card Point of Sale (PoS) transactions, at €2.9 billion in June 2017, were 16 per cent higher than the same month in 2016. Credit card PoS spending was 5 per cent higher than…
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There was a slight fall in the number of debt judgments recorded in the Ireland during the first half of the year, according to figures released today by Registry Trust. There were 1,117 judgments registered against consumers in the first six months of 2017, only one percent higher than the same period last year. But…
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The Irish Small & Medium Enterprises Association (ISME) Credit Watch latest survey shows that late payment has deteriorated from 59 days to 61 days in Q2. Dublin and Ulster businesses are waiting the longest to be paid. Commenting on the results ISME, CEO Neil McDonnell said “Todays’ results are disappointing. Late payments are a big issue for SMEs;…
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The Central Bank of Ireland has released Ireland’s Money and Banking Statistics for June 2017. Here is an overview of the main findings. Irish resident household deposits increased by €1 billion during June 2017 to stand at €99.5 billion. The annual growth rate in the series is now 3.7 per cent, the highest seen since 2008.…
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