THE bill for mis-sold payment protection insurance at taxpayer-backed Lloyds Banking Group has soared to £4.3bn as claims against the bank continue to pile up.
The 40% state-owned lender was pushed to a £439m loss in the first half of the year as it took an additional £700m charge for dealing with the scandal.
The escalating PPI provision will leave taxpayers wondering when they will get their money back, campaigners warned – as the share value remains less than half the price tag paid by the Government.
Shares rose by more than 1%during early trading after Lloyds revealed a lower bad debt charge, reduced eurozone exposure, increased small business lending and higher underlying profits – but closed 0.2p lower at 29.1p.
