27th November 2012
Nationwide has reported a sharp fall in half-year profit after setting aside a further £45 million to compensate customers who were wrongly sold Payment Protection Insurance policies.
Britain’s largest building society, which made a £15 million PPI provision this time last year, said that interim pre-tax profit slid to £124 million from £238 million previously.
Source: The Times
Posted in PPI, UK, Banks, Nationwide, Mis-selling Scandal, Mis-sold PPI, Building Society