Finance Community July presentations
Following last week's Finance Community calls, click to download the presentations from Zephyre on the PSR Strategy, CMSPI on BNPL / deferred payments, and Pay.UK on Request to Pay.
The Business Finance call did not take place this month however the following written update was provided by UK Finance on the conclusion of the government-backed covid financial support measures:
"The final figures on the government-backed covid financial support schemes have been published with nearly £80bn now having been provided through the schemes to well over 1.6m customers.
248,000 wholesale and retail industry customers accessed Bounce Back Loans and Coronavirus Business Interruption Loans (CBILs) totalling £12.4bn accounting for 17% of CBILs and 15% of bounce back loans where the sector accounts for 9.2% of the business population.
From Bank of England statistics, we know this is a material part of over £18bn that has been lent on term loans by banks to SMEs. There is now £22bn outstanding by SMEs which is an increase from about £14bn before the crisis but deposits have also increased (over £5bn in the last quarter for the sector as a whole). We are seeing some reasonable take up of Pay As you Grow options and most customers who are due to make payments have been making these as due. However, we are all conscious that it is early days and other forms of government support on job retention, tax, grants etc are only now tapering."