Barclays sets aside an additional £700m for PPI claims as the bank's restructuring comes to a close
Barclays has set aside an additional £700million to meet payment protection insurance compensation claims.
The extra funds will cover costs and refunds in the ongoing saga over the mis-selling of PPI. The announcement comes just a day after Lloyds Banking Group revealed it was also setting aside an extra £700million to deal with PPI claims.
Barclays also announced an end to its restructuring as it shifts its focus back to the UK and the United States.
In June the bank cut its stake in Barclays Africa Group to 15 per cent, ending more than 90 years as a major presence in the Continent. ... read more
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