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Lloyds makes extra £375m available for PPI claims

Tags: Market-Matters

May 04 2012

Lloyds Banking Group has set aside an extra £375m to pay for the latest compensation claims being submitted to them for the mis-selling of payment protection insurance (PPI).

In its Q1 statement to 31 March, the bank announced a PPI claims provision of some £3.2bn last year and reported falling profits for the first three months of the year.

Lloyds also reported £5.7bn of new mortgage lending in Q1, including over Â£1.3bn of lending to 11,500 first-time buyers. May 4, 2012

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Lloyds makes extra £375m available for PPI claims

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