RBS pumps another £125m into PPI compensation fund

clock

RBS is set to follow Lloyds Bank's example and put more money into its payment protection insurance (PPI) compensation fund, according to reports.

Reuters claims that the bank is to set aside a further £125m to cover compensation for the mis-selling of PPI which is expected to push its compensation fund to the £1bn mark.

The announcement, expected on Friday, will take the bill for state-owned banks resulting from the PPI scandal to almost £5bn.

More on Insurer

39% of adults living with ongoing medical conditions: The Exeter

39% of adults living with ongoing medical conditions: The Exeter

Self-employed among the most impacted

Cameron Roberts
clock 16 December 2025 • 1 min read
Rose St Louis to depart Scottish Widows

Rose St Louis to depart Scottish Widows

Kate Lyons to take over

Jaskeet Briah
clock 15 December 2025 • 2 min read
HSBC Life acquisition approved for Chesnara

HSBC Life acquisition approved for Chesnara

Completion expected by end of January

Jaskeet Briah
clock 15 December 2025 • 2 min read

Highlights

COVER Survey: Advisers damning of protection insurer service levels

COVER Survey: Advisers damning of protection insurer service levels

"It takes longer than ever to get underwriting terms"

John Brazier
clock 12 October 2023 • 5 min read
Online reviews trump price for young people selecting life and health cover

Online reviews trump price for young people selecting life and health cover

According to latest ReMark report

John Brazier
clock 11 October 2023 • 2 min read
ABI members with staff neurodiversity policy nearly doubles

ABI members with staff neurodiversity policy nearly doubles

Women within executive teams have grown to 32%

Jaskeet Briah
clock 10 October 2023 • 3 min read