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Lloyds Banking Group sets aside further £100m for PPI
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02 May 2019
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Lloyds Banking Group has set aside a further £100m to cover payment protection insurance (PPI) mis-selling as it reported flat quarterly profits.

Pre-tax profits for the first three months of the

year were £1.6bn, unchanged from the same period a year earlier.

The bank also warned that continuing Brexit uncertainty could have a further impact on the UK economy.

However, Lloyds said it had not seen the quality of its assets deteriorate.

The group's chief executive, António Horta-Osório, said: "While Brexit uncertainty persists, and continued uncertainty could further impact the economy, I remain confident that our unique business model, and in particular our market leading efficiency and targeted investment, will continue to deliver superior performance and returns for our customers and shareholders."

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