London: Britain’s Lloyds Banking Group announced on Monday that it will set aside an additional £800 million ($1.07 billion) in provisions to address the ongoing UK motor finance mis-selling scandal. This latest charge brings the total estimated financial impact on the bank to £1.95 billion, underscoring the scale of the controversy and its continued repercussions for one of the UK’s largest financial institutions.

The scandal stems from the sale of motor finance products over several years, where customers were allegedly misled regarding dealer commissions and hidden fees. The UK’s Financial Conduct Authority (FCA) has been actively reviewing the sector, warning that the total redress costs could run into billions across the banking industry. Lloyds, already the largest contributor to

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