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Lloyds to announce hit from PPI mis-selling - report
May 1st, 2012
LONDON (Reuters) - British bank Lloyds is set to announce on Tuesday that it has put more cash aside to cover compensation for mis-selling loan insurance, Sky News reported. The state-owned bank is expected to raise its mis-selling provision, as part of its first-quarter results announcement, by roughly 300 million pounds more to pay out to customers. Lloyds' compensation fund is now set to reach 3.5 billion pounds, the largest sum of cash allocated among the UK's affected banks to cover compensation claims. Last year the bank set aside a provision of 3.2 billion pound. ... (Source: Reuters) -
LONDON (Reuters) - Lloyds Banking Group said on Wednesday that it would be able to meet new capital requirements without having to issue new equity or contingent capital, after Britain's financial regulator updated the bank on its position. Lloyds said it was confident in its capital position and re-affirmed previous targets for its core tier ... [Full Article]
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