Just a week after announcing a 26% drop in profits, Lloyds Banking Group (LBG) has announced it is shedding the equivalent of 780 full time jobs across its branch network.
The additional provision of £2.45 billion for PPI complaints in 2018 ‘significantly impacted’ the profits of Lloyds Banking Group (LBG) according to chairman Lord Blackwell.
With just a month to go before the PPI deadline Lloyds Banking Group (LBG) has added a massive £½ billion to its PPI provision to take the total it has set aside to over £2 billion.
Lloyds Banking Group (LBG) has added another £90 million to its PPI provision as the number of new PPI claims continues to rise.
The latest increase comes on top of more than £18 billion it has set aside to pay successful claims since January 2011 – more than half of the overall total paid out by the finance sector so far.Read More
Lloyds Banking Group (LBG) has announced the closure of 49 more branches – 41 with Lloyds and the remaining eight with Halifax – with 1,230 jobs affected.
Claims for mis-sold PPI against Barclays Bank soared by 16% in 2017.
Total claims received have now topped 2.1 million – 300,000 up on the previous year – and the bank has paid out a total of £7.6 billion in compensation for successful PPI claims.Read More