Mis-selling provisions keep Lloyds in the red

Part-nationalised lender Lloyds Banking Group is setting aside yet more money to cover possible pay-outs relating to the mis-selling of payment protection insurance (PPI) schemes, meaning it stayed in the red at the half-year stage.

Part-nationalised lender Lloyds Banking Group is setting aside yet more money to cover possible pay-outs relating to the mis-selling of payment protection insurance (PPI) schemes, meaning it stayed in the red at the half-year stage.

The group reported a statutory loss per tax of £439m for the first half of 2012, a substantially smaller loss than the £3,251m booked in the first half of last year.

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