real-time news and commentary for investors
Monday, Oct 28
Lloyds payment protection insurance bill to grow
- Lloyds (LYG -0.8%) is set to reserve at least another £700M related to the payment protection insurance scandal when it reports Q3 results tomorrow, according to Sky News. The move will come months after the bank had hoped to have finally drawn a line under the issue, and bring the total bill to more than £8B.
- The continuing rise in costs makes for good stories and is irritating to investors, but the stock continues near a 52-week high and is more than a double over the last year.
- Some possible good news to be reported tomorrow would be progress on talks with regulators about resuming a dividend.