PPI claims take bite out of Lloyds’ capital

Bank says it received average of 150,000 PPI information requests per week in Q2

UK lender Lloyds set aside £550 million ($671 million) to cover compensation claims for customers mis-sold payment protection insurance (PPI) in the second quarter, which took a 28 basis point bite out of its Common Equity Tier 1 capital ratio.

Total provisions taken for the first six months of the year hit £650 million, pushed higher over the three months to June because of a “significant increase in information requests” ahead of the PPI claims deadline of August 29. The overall cash pile

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here