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FACTBOX-What UK banks have set aside for mis-selling

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(Globalpost/GlobalPost)

(Adds increases to RBS provisions) LONDON, Feb 28 (Reuters) - Royal Bank of Scotland has set aside another 1.1 billion pounds ($1.7 billion) to compensate customers for mis-selling two types of products, and rivals are expected to increase their provisions too in the coming days. Banks have set aside more than 12 billion pounds to compensate customers for payment protection insurance (PPI), making it Britain's biggest bank mis-selling scandal. The final bill could be more than double that, industry sources have said. Banks are also having to set aside money to compensate small companies for the mis-selling of interest rate hedging products. That bill could reach 10 billion pounds. In addition to compensation to customers, banks are incurring big administration charges. RBS said this accounted for 325 million pounds of its provisions. Following are details of provisions by major banks (in millions of pounds, except HSBC in millions of dollars): PPI === BANK PROVISION PAID OUT PERCENT OF PROVISION PAID Lloyds 5,300 3,700 70 Barclays 2,600 1,600 61 RBS 2,200 1,300 59 HSBC $2,100 $1,000 48 Santander 772 N/A Nationwide 173 N/A Co-op 130 N/A INTEREST RATE HEDGING PRODUCTS (IRHP) ===================================== BANK PROVISION TOTAL PRODUCTS COMPLEX PRODUCTS Lloyds 90 c.4,500 fewer than 100 Barclays 850 c.5,000 RBS 700 c.5,000 600 HSBC $240 c.5,000 customers c.200 Santander -- fewer than 500 ($1 = 0.6608 British pounds) (Compiled by Steve Slater and Matt Scuffham; Editing by Jane Merriman)

http://www.globalpost.com/dispatch/news/thomson-reuters/130228/factbox-what-uk-banks-have-set-aside-mis-selling