British bank led by ex-AIB boss in PPI spiral

Shares in Clydesdale Bank, the British lender led by former AIB chief executive David Duffy, tumbled more than 20% after it made a fresh £300m-£450m (€335m-€500m) provision to settle mis-selling claims linked to the country’s most expensive consumer banking scandal.

The lender also owns the Yorkshire and Virgin Money brands, and said it had received an “unprecedented volume” of complaints from customers seeking compensation for mis-sold payment protection insurance (PPI) before a claims deadline on August 29.