Lloyds adds another £600 million for PPI
Lloyds Banking Group (LBG) have added another £600 million to their PPI compensation pot, taking the total set aside so far to £18.6 billion – more than half the total set aside by the whole industry.
The increase was needed because the bank had underestimated the number of new PPI claims they would receive following the announcement of the 2019 claims deadline.Read More
Lloyds Banking Group (LBG) and Virgin Money have banned their customers from buying Bitcoins with their credit cards.
Lloyds Banking Group (LBG) has announced the axing of more than 900 jobs in the latest phase of its shake-up across the business.
Royal Bank Of Scotland (RBS) has announced the closure of 259 branches and the axing of 680 jobs, blaming the growth of online banking for the move.
The number of closures have so concerned Scottish business minister Paul Wheelhouse that he has urged the UK government to take steps to ensure that communities have access to day-to-day banking services.Read More
Three of Britain’s biggest banks have been hit by what is potentially the biggest LIBOR lawsuit to date by the US government.
The Federal Deposit Insurance Corporation (FDIC) has alleged that Lloyds Banking Group (LBG), Barclays and Royal Bank Of Scotland (RBS) played a part in the collapse of 39 US banks worth more than $400 billion.Read More
New figures show that just 5% of the huge cost of the UK’s bailout of the country’s financial system in 2008 remains to be recovered.
A total of £1.13 trillion was paid out by the Labour government to rescue the British financial industry and keep them going through the credit crunch and recession which followed the crash.Read More
Lloyds Banking Group (LBG) have added £1.05 billion to their PPI provision in just six months and admitted even that may not be enough.
Lloyds Bank has finally been re-privatised and the sale of the last few shares made them a £894 million profit on the deal.
The government sold its last block of taxpayer-owned shares nine years after Lloyds Banking Group (LBG) was bailed out with £20.3 billion for a 43.4% stake in the bank.