Sunday, 29 July 2012 07:15
'Lloyds banking Group set aside another £700m to deal with compensation claims for mis-selling insurance products yesterday, while the chief executive admitted the industry is in deep crisis.
The banking giant that owns HBOS, the merged Halifax and Bank of Scotland business that collapsed in the financial crisis and was rescued by Lloyds, fell to a half-year loss of £439m and predicted further trouble.
It also revealed it has received subpoenas from governments as part of an investigation into a global interest-rate rigging scandal. "Certain parts of the group have received subpoenas and requests for information from certain government agencies and are co-operating with their investigations," the bank said.'
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