Credit, Collections & Insolvency News
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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An independent study commissioned by Dun & Bradstreet reveals a UK business community that believes it has already lost out due to the EU referendum. When asked how the Brexit process has affected business finances, 43% of business leaders say they have felt a negative financial impact since the Brexit vote. More than a third…
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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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A new report by Atradius has forecasted that global GDP is set to accelerate to 3.2% in 2018, the strongest annual expansion since 2011. However, the chances of it improving for a longer period appear to be lower than expected. This is largely due to the increase in US protectionist measures and their potential for…
Read moreGreece’s largest lender Piraeus Bank has announced that it has agreed to sell a 1.45 billion euro portfolio of secured, non-performing business loans to Bain Capital Credit as part of moves to reduce its bad debts. Greek banks have been under regulatory pressure to tackle their bad debt problem, which restricts their ability to expand…
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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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Euler Hermes published a report analysing European payment delays. The report analysed companies’ working capital requirements (WCR): a financial metric whose components are accounts receivable, inventory and account payabl]. It gives the amount of financial resources needed by a company to ensure its production cycle and its repayments of both debts and operational expenses. It…
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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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