On 16 May 2024, the Business Banking Resolution Service (BBRS) published its Annual Report, for the year ended 31 December 2023.

The BBRS is a non-profit organisation set up to resolve disputes between eligible small and medium-sized businesses and participating banks. It was established in response to the commitments made by the banking and finance industry following the Simon Walker Review. It flagged up the need for an independent service to resolve eligible historical and current complaints for small and medium sized businesses that have not previously had access to independent review.

The Annual Report constitutes an overview of the BBRS’ case data, key financial performance indicators and a strategic update.

The Annual Report includes:

  • Reports from the Chair, CEO, Chief Adjudicator, Directors and Independent Auditor.
  • Strategic Report.
  • Customer Testimonials.
  • Financial Statements, Balance Sheets, Statement of Cash Flows and Statement of Comprehensive Income.
  • Employee Engagement.

As of 31 December 2023, the BBRS had a total of 1,014 registered cases. This is up from 905 total registered cases recorded at the end of 2022. 109 cases were registered with the BBRS in 2023.

The BBRS assesses eligibility against the scheme rules which were set for it prior to launch. It publishes the full data on the reasons for cases being found as ineligible on its website on a quarterly basis. There can be one or more reasons affecting eligibility per case. As of 31 December 2023, most cases found to be ineligible had more than one reason for ineligibility under the scheme rules. The most common reason for ineligibility remains that a case is currently, or was previously, eligible for – or received an outcome from – the Financial Ombudsman Service. This was the case for 126 cases.

Lewis Shand Smith said, Within the landscape of Alternative Dispute Resolution, I’m both proud of what the BBRS has achieved and aware that demand for our service is only a fraction of the volumes expected at the launch of the scheme.”