Lloyds sets aside £900m for mis-sold insurance
The latest charge brings total provisions for wrongly sold payment-protection insurance to £11.3bn, Lloyds said yesterday. It is the highest bill of any British lender. Third-quarter pretax profit before one-time items rose 41% to £2.16bn.
Lloyds CEO Antonio Horta-Osorio, 50, has seen his plans to return the lender to full private ownership and resume dividend payments hurt by rising misconduct charges including a fine of £226m for rigging benchmark interest rates.
