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Cost of PPI to major high street banks

PPI has become the UK’s biggest mis-selling scandal and has forced banks to put aside billions of pounds to compensate customers.

Six of the largest high street banks have announced provisions worth almost £54 bn

Cost of PPI scandal – Top 10 banks

Bank Cost of PPI scandal
Lloyds £22 billion
Barclays £11.1 billion
RBS £6.2 billion
HSBC £4.05 billion
Yorkshire / Clydesdale £3.1 billion
Bank of America (MBNA) £1.8 billion
Santander £1.7 billion
Citibank (Egg) £0.8 billion
Co-operative bank £0.6 billion
Northern Rock / UKAR £0.6 billion
Others £1.85 billion
Total £53.8 billion

source of figures New City Agenda

Biggest know PPI pay out was £247,000 to Mike Weaver from Lloyds

The largest fine relating to PPI failings was Lloyds with a £117 million fine in 2015 for its handling of customer complaints relating to PPI.