Lloyds reports £583m loss due to extra £1bn PPI provision

The lender said provision for the mis-selling of payment protection insurance was the "primary driver" of its statutory loss for the first nine months of 2012. The bank has now set aside £2.1bn this year to cover PPI-related costs and £5.3bn in total. Last month, Cazenove analysts suggested Lloyds could be on the hook for over £7bn in PPI costs. But the bank said today the volume of complaints were now falling. "By the time of our full year 2012 results announcement on 1 March 2013, we expect to have a higher degree of confidence in forecast trends and the ultimate likely cost of P...