How can banks recover bounce back loans?
According to UK Treasury figures (Nov 2020) around £42b has been lent by banks through the bounce back loan scheme, providing loans of up to £50,000 to almost 1.5m companies. UK banks are, however, preparing for an expected wave of defaults and fraud cases. Although the loans are backed by a 100% government guarantee, banks will need to demonstrate that they have made significant efforts to recover the loans before they can claim the money from the government. Our esteemed panel will discuss what the options are for banks to recover these loans and what plans have so far been put in place?
Chaired by Bill McCall, President, Chartered Banker Institute.
Our distinguished panel comprises:
- Chris Leslie, CEO, Credit Services Association (former Shadow Chancellor)
- Stephen Pegge, Managing Director, Commercial Finance, UK Finance
- Jane Fuller, Co-Director, CSFI
- Joseph Healy, Co-CEO, Judo Bank