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Lloyds completes £9.8bn gross mortgage lending in Q1

Samantha Cordon
Written By:
Samantha Cordon
Posted:
Updated:
01/05/2014

Lloyds Banking Group lent

Under the Help to Buy schemes, Lloyds has so far lent £416m to mortgage applicants – £342m went to customers purchasing their first home.

No further provision was made to handle and compensate customers which were mis-sold payment protection insurance.

As at the end of 2013, total PPI provisions stood at £1.8bn.

The group’s average monthly complaint volumes, excluding complaints were no PPI was held, were approximately 42,000 in Q1 2014 which is marginally above its projections.

Lloyds Banking Group has reported a 22% rise in underlying profit to £1.8bn in the first quarter of the year.

Statutory profit before tax was £1.4bn and statutory profit after tax came in at £1.2bn.


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