Close Brothers nearly doubles car finance redress to £300mn
Specialist UK bank Close Brothers has nearly doubled the amount it has set aside to cover payouts from the car finance mis-selling scandal to £300mn, following a ruling from the UK financial regulator.
Close Brothers said on Tuesday that it expected to take an additional charge of £135mn, in addition to an initial provision of £165mn.
It noted that the final cost could be “materially higher or lower depending on the outcome of the consultation and any further legal, regulatory or industry developments ”.
The extra provision followed a ruling from the Financial Authority Conduct last week that the mis-selling scandal would cost banks a total of £11bn.
The projected compensation was reduced by a Supreme Court decision to Преобръщане на огромна част от по -ранното решение на Апелативния съд, заплашил да седват кредитори с разноски за обезщетение до 44 милиарда английски лири.
Братя Братя обявиха, че увеличената наредба отразява „ по -голямата възможност “...
Прочетете целия текст »
