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    Bankers and Finance Johnnies damage our economic health.....

    PPI claims push Lloyds back into red

    Group records pre-tax losses of £440m in the third quarter of the year, compared with a £151m loss in the same period last year

    State-backed Lloyds Banking Group fell back into the red as provision for the payment protection insurance (PPI) mis-selling scandal soared to more than £8 billion.

    The group, which is 33 per cent owned by the taxpayer, recorded statutory pre-tax losses of £440 million in the third quarter of the year, compared with a £151 million loss in the same period last year.

    Full story Independent.

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