Credit, Collections & Insolvency News
Credit 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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A new report published by Oxford Economics has found that a decade after the financial crisis, bank lending to small businesses has failed to recover significantly. The “Big Business of Small Business” report, launched in partnership with Funding Circle, finds that small business lending makes up a tiny proportion of banks’ overall balance sheets. In the UK,…
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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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European debt purchase specialist Intrum has announced that it has completed the finalisation of regulatory approvals to finalise the acquisition of Solvia Servicios Inmobiliarios (Solvia) from Banco Sabadell following the initial announcement in December 2018. The agreement means that Intrum will acquire an 80 per cent share in Solvia, whilst Banco Sabadell, one of the…
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A sharp increase in the number and cost of cyber attacks is the key finding in a study of more than 5,400 organisations across seven countries, commissioned by insurer Hiscox. More than three out of five firms (61%) report one or more attacks in the past year, yet the proportion achieving top scores for their…
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Small and Medium Enterprises (SMEs) represent more than 99% of all European non-financial corporates and depend on banks for 70% of their external financing. Generating close to 60% of total Gross Value Added, they employ over 90 million people. Euler Hermes’ new study focuses on SMEs as critical actors in the European economy; it estimates…
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Trade credit insurer Atradius has revealed its most promising emerging markets for 2019. Bulgaria, Indonesia, Vietnam, Peru and Morocco have been shortlisted within the Promising Emerging Markets Economic Research Report as having the most potential for new trade opportunities this year. The top five are predicted to shine in 2019 thanks to their strong growth…
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Figures released today by the Jubilee Debt Campaign, based on IMF and World Bank databases, show that developing country debt payments increased by 85% between 2010 and 2018. The new analysis from Jubilee Debt Campaign shows that average government external debt payments across the 124 developing countries for which data is available have increased from…
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The Financial Conduct Authority (FCA) has published its final instruments and guidance that will apply in the event the UK leaves the EU without a deal or an implementation period. As the UK prepares to leave the EU, the FCA has been working to deliver a transition that is as smooth as possible. The package…
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A new economic research report from Atradius forecasts that global insolvencies are set to grow for the first time in 10 years. The Insolvency Forecast reports an expected rise in insolvencies of 7% in the UK in 2019, the highest increase of all advanced markets. The insolvency outlook has deteriorated following a sharp loss of…
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