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Barclays reduces PPI provisions

Source BBC News@ tienganhvui.com


A Barclay's sign


Barclays Bank has reduced the amount it's set aside to pay compensation for mis-sold personal protection insurance (PPI) by £387m.


In its third quarter results, the bank reported a big increase in nine-month pre-tax profits to £2.85bn.


That's up from £962m in the same period last year.


Lloyds Bank on Tuesday said it will set aside another £750m for compensation for PPI mis-selling, taking the total to £8bn.





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