The group posted a low £219m attributable quarterly profit impacted by £1.15bn litigation and conduct charges. The group made a “final” £1bn extra provision for PPI reflecting a one-year delayed claims deadline. The underlying profit before tax came in at £1,912m, down 8% vs the first half run rate. Full-year guidance has been maintained.
27 Oct 2016
Quarter impacted by “final” PPI provision and insurance volatility
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Quarter impacted by “final” PPI provision and insurance volatility
Lloyds Banking Group plc (LLOY:LON) | 52.1 0.4 1.5% | Mkt Cap: 32,990m
- Published:
27 Oct 2016 -
Author:
David Grinsztajn -
Pages:
2
The group posted a low £219m attributable quarterly profit impacted by £1.15bn litigation and conduct charges. The group made a “final” £1bn extra provision for PPI reflecting a one-year delayed claims deadline. The underlying profit before tax came in at £1,912m, down 8% vs the first half run rate. Full-year guidance has been maintained.