has warned that the increasing number of bankruptcies and individual
voluntary arrangements were a ‘major influence’ on loan impairment charges in
personal loans and credit cards.
The rising insolvency figures have led to slower growth
in unsecured lending and lower revenues from credit-related insurance.
The bank does not see an immediate end to the problems: ‘The trend of rising
personal bankruptcies and IVAs seen since the second half of 2005 looks unlikely
to abate in the medium term.’
warned that the rate of growth of impairment charges had grown to due to the
rising level of insolvencies.
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK