Lloyds sets aside €3.6bn for claims

London: Lloyds Banking Group Plc, Britain’s biggest mortgage lender, set aside £3.2 billion (€3.6bn) to settle claims that clients were improperly sold loan insurance, breaking ranks with British competitors.

Lloyds reported a first quarter net loss of £2.4bn, compared with a profit of £169 million in the same period the previous year, the London-based lender said.

Antonio Horta-Osorio, 47, chief executive since Eric Daniels departed two months ago, also broke tradition by releasing the bank’s first detailed quarterly earnings. The shares fell the most in almost a year.

British banks last month lost a court bid to stop the country’s financial regulator imposing rules to compensate customers improperly sold loan insurance.


Lifestyle

Like it or not, video meetings are here to stay. Home editor Eve Kelliher gets an expert's secrets to preparing interiors for their close-up.How to ensure your home is always camera-ready in the Zoom era

Tougher plants, smaller plots and more communal spaces will grow in popularity, says Hannah Stephenson.What will gardens of the future look like?

Ciara McDonnell chats with four women who’ve decided to embrace their natural hair colour after time away from the salonBack to my roots: Four women who've decided to embrace their natural hair colour

Allowing your children to lead the way is the key to fun outdoor play, and there are many things you can build or buy to help them along, says Kya deLongchampsGarden adventures: Allowing your children to lead the way is the key to fun outdoor play

More From The Irish Examiner