Lloyds bank takes extra £2.0 bn hit for mis-selling claims

Lloyds bank takes extra £2.0 bn hit for mis-selling claims

 

London (AFP)

 

Britain's state-rescued bank Lloyds said Monday it will take an extra hit of almost £2.0 ($3.3 billion, 2.4 billion euros) to cover mis-selling claims.

 

Lloyds will take a provision of £1.8 billion for claims relating to the mis-selling of payment protection insurance, and £130 million relating to over the mis-selling of interest rate hedging products to small businesses, it said in an update before annual results on February 13, adding it expects to make a "small" pre-tax profit.

 

(Agence France-Presse, 3 Monday February 2014 The Roman)