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Lloyds Still Paying Out for PPI

Thursday, July 27, 2017

Lloyds bank has set aside another £1 billion for the repayment of mis-sold PPI and mortgage insurance in what has become one of the most costly actions in banking history. Apparently, despite years of terrible adverts advising people claim money for mis-sold financial products, some are still unaware that they are entitled to claim. Lloyds recently announced a half-year pre-tax profits of £2.5bn, 4% higher than last year. Lloyds alone has now set aside £18bn. In total, UK lenders have been forced to set aside more than £30bn to cover PPI compensation costs.

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