Credit, Collections & Insolvency News
JN Bank UK has announced that it has relaunched as thisbank following a rebrand. In a statement, thisbank said it was “Created by revitalising the UK arm of JN Bank under new leadership and ownership. “Now backed by UK and US investment, a new leadership team from some of the biggest names in banking, the…
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The Money Advice Liaison Group (MALG) has announced that it has appointed Peg Alexander as its next CEO. She will take up the position in March 2026, succeeding long‑standing CEO Bob Winnington, who retires at the end of that month after a decade leading the organisation. Alexander brings more than 30 years’ experience across broadcasting,…
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The Credit Services Association (CSA), the UK trade body for the debt collection and purchase industry, has published a new report highlighting the rising scale, complexity and cost of cyber security risks facing its members, urging them to prioritise resilience as a core operational and governance responsibility. The report, titled ‘Cyber Security: The Billion Pound…
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A forecast by EY ITEM Club expects UK GDP to grow by 0.9% in 2026 a marginal upgrade on the 0.8% predicted in November’s Autumn Forecast. The data predicts the economy will accelerate growth to 1.3% in 2027 and will settle at 1.4% from 2028 onwards. Global uncertainty and tariff disruption are expected to be…
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Rising tax and cost pressures forced more than one in five (21%) SME bosses to lay off staff last year, according to a survey commissioned by Rathbones. A targeted poll of more than 1,000 SME founders, owners and senior executives reveals a challenging landscape for business leaders, with cost pressures – including business rates and national…
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New data from Novuna Business Finance has revealed the first green shoots of a potentially new upward trend in small business growth forecasts. Following a worrying 18-month period since mid-2024, when the percentage of small businesses predicting growth fell for five-consecutive quarters, to a five-year low of 25%, January 2026 sees an upturn, with 27%…
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Analysis of credit card data for November 2025 by global analytics software leader FICO has found that spending, balances and payments followed seasonal trends in the run-up to Christmas. However, while spending rose as expected during November, it was lower year-on-year, signalling continued pressure on household finances. Average balances resumed an upward trajectory as payment…
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Latest data from the Bank of England data has shown that net mortgage approvals for house purchase fell by 3,100 to 61,000 in December 2025. By contrast, approvals for remortgaging rose by 1,600 to 38,400 in December. Net borrowing of mortgage debt by individuals remained unchanged when compared to November at £4.6 billion in December. The…
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Latest Red Flag Alert research from Begbies Traynor has revealed a considerable 43.8% year-on-year increase in ‘critical’ financial distress in Q4 2025. Throughout 2025, UK businesses continued to grapple with a prolonged period of economic uncertainty, rising operating costs driven by inflation and higher wages, increased tax burdens, elevated interest rates, and weakened consumer demand. The persistence…
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The IoD Directors’ Economic Confidence Index, which measures business leader optimism in prospects for the UK economy, jumped to -48 in January 2026, from -66 in December 2025. Business leader confidence in their own organisations also jumped, to +14 in January from -4 in December. The underlying indicators, particularly revenue and export expectations, also saw…
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Specialist lender, Afin Bank has appointed Rebecca Griffin as Chief Risk Officer. Griffin joins from 118 118 Money, where she was Chief Risk Office and brings over 15 years of financial services experience. With a foundation in accountancy at some of the UK’s big four firms, Griffin transitioned into compliance and finance spending almost 12…
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Business confidence weakened this month over concerns about the global economic outlook, according to the latest Lloyds’ business barometer. The survey reported a net balance of 44% in January, down from 47 per cent in December, driven by a 14-point drop in businesses’ net economic optimism. However, businesses’ expectations for their own activity rose by…
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Santander has announced the appointment of Mahesh Aditya as Chief Executive Officer (CEO) of Santander UK Group Holdings plc and Santander UK plc, effective from 1st March 2026. Aditya joins from Banco Santander, where he has been Group Chief Risk Officer since 2023 and prior to that spent six years at Santander in the US,…
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