With growing economic challenges hitting businesses across Europe, which sectors are best placed to weather the storm?
With the economic situation precarious, consumers and businesses alike are bracing for a difficult winter. World Savings Day is held on 31 October, against the backdrop of rising costs that mean putting money aside may be unrealistic.
The macroeconomic environment has started to impact the quality of credits on European banks and financial institutions’ balance sheets. Intrum’s yearly European Payment Report (EPR) shows that half of the surveyed financial institutions expect the rate of their loans classified as stage 2 under IFRS9 to increase during the remainder of 2022, and close to 4 in ten (38%) also believe that their share of stage 3 loans will grow.
Sustainability is a high priority at Intrum – from social sustainability issues to environmental concerns, we are working hard to ensure the agenda runs through the whole business.
With energy prices and the cost of living rocketing, many people are worried about meeting their financial commitments. Ideally, we would all have a savings buffer for difficult times but the scale of price rises means some will already be dipping into those funds.
It’s easy to become dispirited about your financial situation when world events are as disruptive as they have been in recent years. With a pandemic, war in Ukraine and growing inflation, it can feel like nothing we do personally makes a difference.
As a business with a presence in 24 European markets, Intrum has long been adept at providing local expertise to clients. Now, as transformation project ONE Intrum gathers pace, the company is honing its cross border approach.
For society to function properly it’s important that businesses are paid for their goods and services – that means they can continue to employ people and serve their customers. However, we understand that things don’t always go to plan when it comes to paying back the money you owe.
Intrum’s commitment to omnichannel communications has taken Spanish real estate provider Solvia into a new world…
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