The Latest Headlines From Across The Banking Sector - April

2021-05-06 |  Ben Dineen

A relatively quiet April in the Banking sector, with the main stories that caught our attention being some positive Q1 2021 results and the beginning of the claw backs for Covid lending.

As has been a common theme in the last few months, more organisations announced return to work plans, which is high on our clients’ agendas. With this in mind, we’re hosting an online roundtable discussion in May on the future Ways of Working in the Banking sector. If this is something you’d be interested in hearing more about then do get in touch.

Q1 2021 results
Covid loan claw back
  • Emergency loans backed by the government have led to the provision of over £180bn since March 2020.
  • However, with CBILS and BBLS now closed for applications, lenders have kicked off the process to collect repayments now that the 1 year interest free period is up.
  • And despite the new government backed Covid Recovery Loans, it is expected that a number of companies will struggle to make these repayments as the economy is still opening up.
  • As a result, banks will be scaling up collections and recoveries activity rapidly to ensure a robust process and fair outcomes for all, with a number of banks arranging sensitivity training for debt collectors to help manage the fallout.
And in case you missed it…

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