Lloyds Banking Group

Lloyds Banking Group has made a further £750m provision for expected claims against its sales of payment protection insurance (PPI), taking its total commitment beyond £8bn.

The chief executive of taxpayer-backed Lloyds Banking Group is set to be awarded a bonus worth about £2.5m next month as the lender continues its recovery from the 2008 financial crisis.

The UK government has confirmed it is to begin selling down its stake in Lloyds Banking Group - with reports suggesting US investors could snap up as much as half of it.

A businessman who amassed a £100m fortune through mis-selling credit card protection products showed contempt for the seven million affected victims yesterday.

A number of UK equity income managers have begun building positions in Lloyds Banking Group as the lender prepares to return to the UK dividend register.

Invesco Perpetual's Neil Woodford is considering snapping up shares in Lloyds Banking Group when the government begins selling its stake, according to reports.

More than £10bn has now been returned to payment protection insurance (PPI) policyholders by the banks and building societies that mis-sold it to them, according to the latest figures from the Financial Conduct Authority (FCA).

Lloyds Banking Group said it has reduced its outstanding capital requirement to below £2bn, following the £8.6bn aggregate shortfall figure announced yesterday.

Lloyds expects to spend more than £1.6bn selling off 630 of its branches to form a new TSB Bank later this summer.

The Co-operative Bank has reached agreement with the Prudential Regulation Authority (PRA) to plug a £1.5bn capital hole in its balance sheet.