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READ MOREUK business loans written off by banks almost double to £356m as insolvencies quadruple
The value of UK business loans written off by banks nearly doubled in the last quarter of 2021, rising 87% from £190m in the third quarter to £356m in the fourth quarter.
Debt advisors told City A.M. this afternoon that write offs of loans have been subdued throughout the Covid crisis but are now rising as businesses have struggled with factors such as rising energy prices and the impact of rising interest rates.
Read more at City A.M.
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