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Lloyds PPI Mis-selling Bill exceeds £6.5bn

1st March 2013

The PPI refunds bill for the four big UK banks has passed the £12.5billion mark. 

An additional £1.3billion has been set aside by Lloyds Banking Group to cover their share of the mis-selling scandal. 

By adding such a giant sum to its PPI bill, Lloyds, which is 39 per cent-owned by the taxpayer, will take its own PPI mis-selling bill to more than £6.5bn, more than half the aggregate sum for the big four lenders.

To date, Barclays has set aside £2.6bn, RBS has allocated £2.2bn, including a £450m provision today, and HSBC, which reports results next week, has written off £1.4bn.

Source: Sky News

Posted in PPI, Mis-selling, Lloyds Banking Group, UK, Banking

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