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Profits hit as total held back for payouts rises to almost £1.2bn amid uncertainty over final financial impactBusiness live – latest updatesLloyds Banking Group has been forced to put aside a further £700m for potential compensation over the ballooning car loan commission scandal, in a move that knocked its annual profits by 20%.The latest provision brings the sum it will hold back for payouts to almost £1.2bn. RBC Capital has estimated that the bank could ultimately be on the hook for up to £4.6bn. Continue reading…
Profits hit as total held back for payouts rises to almost £1.2bn amid uncertainty over final financial impact
Lloyds Banking Group has been forced to put aside a further £700m for potential compensation over the ballooning car loan commission scandal, in a move that knocked its annual profits by 20%.
The latest provision brings the sum it will hold back for payouts to almost £1.2bn. RBC Capital has estimated that the bank could ultimately be on the hook for up to £4.6bn.
