Daily Archives: February 3, 2014

Emily Cadman

News that Lloyds has raised to an eye-watering £9.8bn its provisions to cover claims over the mis-selling of payment protection performance (PPI) is a reminder the issue is far from over for UK banks.

The big five high street banks have set aside just under £20bn to date to cover both compensation and the associated administrative costs of assessing claims. Lloyds is by far the worst hit of the major UK banks, but the sums set aside by the others are still substantial.

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