Legal charges topped £6 billion at UK banks in 2018

Litigation and misconduct charges reported by large UK banks increased 20% to £6.5 billion in 2018.

Aggregate provisions taken against income to cover legal proceedings and regulatory infractions across Barclays, HSBC, Lloyds, Nationwide, RBS, Santander UK and Standard Chartered rose £1.1 billion over the 12 months to end-December, the first aggregate increase since 2015.

Barclays reported the largest hike in sterling terms, a jump of £1 billion (83%) to £2.2 billion. The bank reached a

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