Lloyds Bank, Motor Finance Probe

Britain's Lloyds sets aside $882 million more for car finance probe
Lloyds Banking Group reported full-year profit below expectations on Thursday, weighed down by money it set aside for potential consumer redress in relation to a motor finance probe.
Lloyds sets aside over £1.1bn for motor finance claims
Lloyds bank announced on Thursday morning that it had set aside an additional £700m in provisions for potential motor finance payouts, on top of the £450m recorded last year. It has become the latest major lender to increase provisions in what’s becoming an increasingly expensive scandal for the UK’s financial sector.
Lloyds Banking Group’s Profit Dented by Extra Provision for Motor-Finance Probe
The lender took a further provision in the fourth quarter for the potential hit of a possible redress linked to its motor finance business, leading its pretax profit for the period to miss expectations.
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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