Lloyds profits nearly wiped out by £1.8bn PPI hit
Image copyright Reuters
Lloyds Banking Group has taken a £1.8bn hit for payment protection insurance (PPI) mis-selling compensation, almost wiping out its third quarter profits.
It takes the bank’s total bill for the PPI scandal to close to £22bn
The PPI cost meant the bank made just £50m of profits in the third quarter. It also knocked profits for the first nine-months, which fell 40% to…
Discover more from USNewsRank
Subscribe to get the latest posts sent to your email.