Credit, Collections & Insolvency News
Irish regulator, The Competition and Consumer Protection Commission (CCPC) has published a detailed report analysing the Personal Contract Plan (PCP) car finance market. Prompted by the growing popularity of this type of finance, the large sums of money involved and the complexity of the agreements, the CCPC began a study of the market in July…
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Debt purchaser, Arrow Global has announced that it has agreed terms for two acquisitions which strengthen the Group’s investment and asset management capabilities and reinforce its growing presence in Italy. The first acquisition is for Europa Investimenti S.p.A., a leading originator and manager of Italian distressed debt investments, for an equity value of €62 million.…
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Small and medium-sized enterprises (SMEs) are increasingly turning to alternative sources of financing, according to a new OECD report. The report also shows that new bank lending is declining in a number of countries. Many SMEs remain over-reliant on bank credit, however, and the take-up of instruments other than straight debt varies greatly from one…
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Trade credit insurance specialist Euler Hermes has warned that future export market may prove to be a bad debt risk after Brexit. The findings come from Euler Hermes annual Collection Complexity Scores and Rating report, which measures the challenges of international debt collection procedures in 50 of the largest economies involved in global trade. The report…
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Ireland’s Central Bank has released its latest credit and debit card statistics from Q4 2017. Here is an overview of the statistics: Debit card Point of Sale (PoS) transactions in December 2017 were €3.6 billion, 15 percent higher than the same month in 2016. Debit card PoS transactions accounted for 57 percent of gross new…
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European debt purchaser Intrum has announced that Thomas Moss has been appointed acting Chief Financial Officer (CFO). Current CFO Erik Forsberg will leave the company next week Moss is currently the Director of Group Business Control at Intrum, a role that he has held for the past 4 years. Before he joined Intrum he held the…
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The number of debt judgments recorded in the Four Courts of Ireland fell to a historic low during 2017, according to figures released today by Registry Trust. There were 2,157 judgments registered against consumers in 2017, two percent fewer than the previous year and a record low. The mean average consumer judgment’s value fell 11…
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The Central Bank of Ireland’s Director General, Financial Conduct today set out her priorities for the recently created financial conduct pillar of the Central Bank. Speaking in UCD, Derville Rowland highlighted the vital importance of trust and confidence in financial services and the system of regulation, and added that the accountability of senior personnel in…
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A new report published by Euler Hermes shows that western Europe is leading the way with debt collections procedures. The report titled “Collection Complexity Score and Rating” aims to measure the level of complexity relating to international debt collection procedures within 50 countries. Three main factors were analysed: local payment practices, local court proceedings and…
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European collections specialist, Intrum is organizing a hackathon in partnership with Tieto which will seek to examine how innovation can help to improve individual consumer’s financial well-being. Over the course of the two-day hackathon event in Helsinki, Finland on April 11-12 this year, participants from education institutions, startups, SMEs and other organisations will create new…
Read moreIrish Credit unions need to invest in new technologies in order to compete with challenging new entrants to the market, according to the Central Bank. Speaking at thethe annual conference of the Credit Union Development Association. Patrick Casey, the regulator’s registrar of credit union said “Today, the traditional business models of all financial institutions are…
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Debt Purchaser, Arrow Global Group has announced the appointment of Dave Sutherland as Group Chief Operating Officer (COO). Sutherland is a highly experienced executive with a successful track record of managing operations within large, international financial services organisations. He joins Arrow Global at an exciting phase of the Group’s development and will sit on the…
Read moreThe Irish Central Bank has announced three appointments at Director level in its Financial Conduct pillar. The Directors will report to Director General, Financial Conduct, Derville Rowland. The financial conduct pillar was established following a restructuring of financial regulation in 2017. Gráinne McEvoy has been appointed to the role of Director of Consumer Protection. Prior…
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