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|
|Yorkshire / Clydesdale||£3.1 billion|
|Bank of America (MBNA)||£1.8 billion|
|Citibank (Egg)||£0.8 billion|
|Co-operative bank||£0.6 billion|
|Northern Rock / UKAR||£0.6 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.