Lloyds ups PPI provisions to 1.2-1.8 bln stg, suspends buyback
LONDON, Sept 9 (Reuters) - Lloyds Banking Group LLOY.L will make extra provisions for payment protection insurance (PPI) claims of 1.2 to 1.8 billion pounds (($1.47-2.21 billion) in its third quarter results and will suspend the rest of its 2019 buyback programme, it said on Monday.
Banks are setting aside more provisions for PPI following a rush of claims against mis-selling of the insurance ahead of the deadline on Aug 29.
($1 = 0.8154 pounds)
(Reporting by Carolyn Cohn Editing by Rachel Armstrong)