PPI claims take bite out of Lloyds’ capital

Tweet
Facebook
LinkedIn
Save this article
Send to
Print this page

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 [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to print this content. Please contact [email protected] to find out more.

You are currently unable to copy this content. Please contact [email protected] to find out more.

You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/

If you would like to purchase additional rights please email [email protected]

You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/

If you would like to purchase additional rights please email [email protected]