MBNA LIMITED
Company Information
- Company Number
- 02783251
- Registered Address
- Cawley House, Chester Business Park, Chester, United Kingdom, CH4 9FB
- Status
- Active
- Employee Count
- 352.0
- Turnover
- 642902000.0
- EBITDA
- 219397000.0
Additional Details
- Company Type
- Private limited Company
- Incorporated On
- 25 January 1993
- Nature of Business
- 64999 - Financial intermediation not elsewhere classified
- Industries
- Financial Services
- Region
- North West
Company Location
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Financial Metrics
Time to Pay
Payment Timeline
Payment Features
Payment Time Trends
Payment Distribution Trends
Performance Reports History
| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Jul 2023 - 31 Dec 2023 | 30 Jan 2024 | 11 | 95% | 3% | 2% | 4% |
| 01 Jan 2023 - 30 Jun 2023 | 28 Jul 2023 | 11 | 97% | 2% | 1% | 3% |
| 01 Jul 2022 - 31 Dec 2022 | 30 Jan 2023 | 10 | 95% | 3% | 2% | 5% |
| 01 Jan 2022 - 30 Jun 2022 | 28 Jul 2022 | 13 | 94% | 3% | 3% | 6% |
| 01 Jul 2021 - 31 Dec 2021 | 28 Jan 2022 | 16 | 90% | 6% | 4% | 8% |
| 01 Jan 2021 - 30 Jun 2021 | 28 Jul 2021 | 17 | 86% | 9% | 5% | 13% |
| 01 Jul 2020 - 31 Dec 2020 | 28 Jan 2021 | 21 | 85% | 9% | 6% | 13% |
| 01 Jan 2020 - 30 Jun 2020 | 29 Jul 2020 | 18 | 88% | 7% | 5% | 8% |
| 01 Jul 2019 - 31 Dec 2019 | 28 Jan 2020 | 23 | 83% | 10% | 7% | 14% |
| 01 Jan 2019 - 30 Jun 2019 | 29 Jul 2019 | 27 | 77% | 16% | 7% | 19% |
| 01 Jul 2018 - 31 Dec 2018 | 29 Jan 2019 | 21 | 89% | 7% | 4% | 11% |
| 01 Jan 2018 - 30 Jun 2018 | 27 Jul 2018 | 26 | 90% | 7% | 3% | 9% |
Company Summary
MBNA LIMITED is a leading credit card provider in the UK, offering a range of financial products and services to its customers
The company is committed to sustainability and has implemented various initiatives to reduce its environmental impact
As part of its sustainability program, MBNA LIMITED has reduced its carbon footprint by implementing energy-efficient practices and using renewable energy sources
The company also has a recycling program in place to minimize waste and promote sustainability
MBNA LIMITED offers a variety of credit card products to its customers, including balance transfer cards, low APR cards, and rewards cards
The company also provides online banking services, making it convenient for customers to manage their finances
The key people at MBNA LIMITED include the CEO, Ian O'Doherty, who has been with the company since 2004, and the CFO, David Keniry
The company has a team of dedicated employees who work towards providing excellent customer service and promoting sustainability
For more information, customers can visit MBNA LIMITED's website at www.mbna.co.uk
The company's registered office address is Chester Business Park, Chester, CH4 9FB, United Kingdom
Customers can also contact the company's customer service team at 0800 068 8788 for any inquiries or assistance
Overall, MBNA LIMITED is a reputable credit card provider that is committed to sustainability and offers a range of products and services to meet the financial needs of its customers
Company Review
Trend Analysis
The average time taken for MBNA LIMITED to pay invoices to suppliers has been decreasing over the past three periods, from 26 days in 2018 to 11 days in 2023. This indicates that the company has been paying its invoices more quickly over time.
Volatility Analysis
The volatility in % Invoices paid later than 60 days has been relatively low, ranging from 2% to 7% over the past three periods. This suggests that MBNA LIMITED has been consistent in paying its invoices within the agreed terms.
Summary Analysis
In the past three periods, MBNA LIMITED has shown a trend of paying invoices to suppliers more quickly. The average time to pay has decreased from 26 days in 2018 to 11 days in 2023. The % of invoices paid within 30 days has also increased from 90% in 2018 to 97% in 2023. However, there has been a slight increase in % Invoices not paid within agreed terms, from 9% in 2018 to 13% in 2023.
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
Standard payment terms are 30 days after receipt of a correct, undisputed, timely provided and properly due VAT invoice. In some circumstances, MBNA Limited agrees appropriate terms of payment with suppliers for each transaction or series of transactions, and abides by those terms based on the timely submission of valid invoices.
Were there any changes to the standard payment terms in the reporting period?
No
Any other information about payment terms
Invoice Receipt Date We are currently only able to record the date of receipt of invoices for circa 70% of reportable invoices in this report. Where the date we receive an invoice is not available, we have reported on the date of the invoice itself, as we consider this the most justifiable alternative. Unknown payment terms For certain suppliers, our systems do not currently capture details of the payment terms in place under qualifying contracts with those suppliers. Therefore, for the purposes of reporting on our payment statistics for those qualifying contracts, we have assumed that all payments under those contracts are due within 30 days of the date of receipt of the invoice, which reflects our most commonly used contractual payment terms. Discrepancy between contracting entity and paying entity Our payment statistics include some payments made by MBNA Limited where, although we are not the contracting entity for the relevant qualifying contract, the services have been received and paid for by MBNA Limited. Sufficient link to the UK Our payment statistics may include some payments made to non-UK entities where we have been unable to ascertain whether the contract has a sufficient link to the UK to meet the criteria for reporting. It is not MBNA Limited policy to differentiate supplier payment terms based on supplier jurisdiction and our payment practices for non-UK entities are representative of those followed for UK entities.
Maximum contractual payment period agreed
45
Dispute Resolution Process
Suppliers can raise queries with their appointed managers in the first instance. They can also contact the dedicated accounts payable team (LloydsInvoiceEnquiries@Lloydsbanking.com). Such contacts would generally seek to deal with any disputes promptly (involving other senior contacts, as needed), in accordance with the terms of the contract.
Other Payment Information
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
❌
Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
✅
Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
❌
Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
❌
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
