Home Business NewsBusinessBanking News Lloyds pays a total of £21.9bn for PPI claims

Lloyds pays a total of £21.9bn for PPI claims

by LLB Reporter
20th Feb 20 10:48 am

Lloyds Bank has paid around £2.5bn for PPI claims in 2019 bringing the total paid out by the banking giant for mis-selling to £21.9bn.

The bank posted a 26% fall in pre tax profits to £4.4bn as a result of paying out billions in customer PPI compensation.

“The group’s statutory performance was impacted by a substantial PPI charge related to the deadline for claims submission,” the bank’s boss António Horta-Osório, said in a statement.

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