{"id":417781,"date":"2011-05-05T06:43:02","date_gmt":"2011-05-05T06:43:02","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/05\/05\/ppi-costs-push-lloyds-into-loss\/"},"modified":"2011-05-05T06:43:02","modified_gmt":"2011-05-05T06:43:02","slug":"ppi-costs-push-lloyds-into-loss","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/05\/05\/ppi-costs-push-lloyds-into-loss\/","title":{"rendered":"PPI costs push Lloyds into loss"},"content":{"rendered":"

5 May 2011<\/span> Last updated at<\/span> 02:43 ET<\/span><\/span><\/p>\n

Lloyds Banking Group has announced a first quarter loss, after making a \u00a33.2bn provision for potential mis-selling claims by customers who took out payment protection insurance (PPI).<\/p>\n

In April, UK banks lost a judicial review over PPI compensation.<\/p>\n

Lloyds reported a loss of \u00a33.47bn for the first three months of the year. It made a \u00a3721m profit a year ago.<\/p>\n

It also took a charge of \u00a31.1bn to allow for further falls in commercial property prices in the Irish Republic.<\/p>\n

However, the bank’s core business showed growth as customer loans and deposits rose from \u00a3842bn to \u00a3847.8bn.<\/p>\n

“The bank as a whole appears to be getting better and appears to be taking a larger market share,” said Ralph Silva, banking analyst at SRN.<\/p>\n

Before the provision for PPI compensation and other one-off items, the bank said it had made a profit in the quarter of \u00a3284m.<\/p>\n

The results were the first presented by new Lloyds chief Antonio Horta-Osorio, who replaced Eric Daniels on 1 March.<\/p>\n<\/div>\n

More here:
\nPPI costs push Lloyds into loss<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

5 May 2011 Last updated at 02:43 ET Lloyds Banking Group has announced a first quarter loss, after making a \u00a33.2bn provision for potential mis-selling claims by customers who took out payment protection insurance (PPI). In April, UK banks lost a judicial review over PPI compensation. Lloyds reported a loss of \u00a33.47bn for the first three months of the year<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-417781","post","type-post","status-publish","format-standard"],"yoast_head":"\nPPI costs push Lloyds into loss - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2011\/05\/05\/ppi-costs-push-lloyds-into-loss\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"PPI costs push Lloyds into loss - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"5 May 2011 Last updated at 02:43 ET Lloyds Banking Group has announced a first quarter loss, after making a \u00a33.2bn provision for potential mis-selling claims by customers who took out payment protection insurance (PPI). 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