Lloyds sets aside £1.2bn for car finance saga

LLoyds earmarks £1.2bn for car finance scandal
Lloyds Banking Group has nearly tripled the amount it is setting aside to cover the car finance mis-selling scandal to £1.2bn, knocking its profits for the year. It is setting aside an extra £700m to cover potential compensation payments,
Lloyds ring-fences £1.2bn for handling car finance crisis as bank puts aside additional £700m
Lloyds has almost tripled the amount of money it has assigned to handling the car finance crisis as the potential impact of the scandal continues to grow.
Britain's Lloyds sets aside $882 million more for car finance probe
Lloyds Banking Group warned on Thursday of "significant uncertainty" around the impact of a British motor finance inquiry, after it set aside another 700 million pounds ($882 million) to cover a potential compensation scheme.
Lloyds sets aside extra £700m for car finance compensation
Lloyds Banking Group saw its annual profit fall below forecasts as it braces itself for the financial fallout from potential consumer redress in respect of a motor finance probe.
Lloyds sets aside £1.2bn for car finance saga as profits slide by a fifth
Lloyds has revealed it has set aside £1.2 billion to cover potential compensation costs for motor finance commission arrangements, as the bank’s annual profit slid by a fifth. An additional £700 million provision taken in the final three months of the year adds to the £450 million already confirmed last year.
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Including the £450 million provided in 2023 results, Lloyds said the total of £1.15 billion represented its best estimate of ...
Britain's Lloyds Bank misses profit estimates on motor finance provisions
Lloyds Banking Group reported full-year profit below expectations on Thursday, weighed down by money it set aside for ...