PPI costs Lloyds all profits it has made for past six years
LLOYDS Bank has set aside almost £22bn in total to cover the rush of complaints for PPI mis-selling - more than all of its combined profits since it started paying for the scandal in 2013.
The lender earmarked an extra £1.8bn to cover PPI costs yesterday after being stung by a last-ditch scramble for compensation ahead of a deadline for claims earlier this year.
This extra hit almost wiped out profits for the third quarter of 2018. It dragged them down to just £50m, 97pc less than...