(Bloomberg) — The bill keeps rising for Lloyds Banking Group Plc's misdeeds.
The lender may need to set aside 500 million pounds ($847 million) more to compensate consumers who were wrongly sold insurance on loans, according to four analysts' estimates compiled by Bloomberg. That charge would come just days after Lloyds's behavior was called “reprehensible” by Bank of England Governor Mark Carney and it was fined 226 million pounds for manipulating interest rates.
The new provision for payment-protection insurance would be in addition to the 9.8 billion pounds, more than any other British lender, it has already set aside. Barclays Plc said today it took a 900 million-pound charge in the second quarter to cover costs for mis-sold loan insurance, bringing its total bill to 4.9 billion pounds.
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