March 10, 2017 / 1:19 PM / 4 months ago

Mis-sold loan insurance costs Lloyds another $425 million

1 Min Read

LONDON, March 10 (Reuters) - Lloyds Banking Group said on Friday it has taken a further 350 million pound ($425.29 million) provision to compensate customers for mis-sold loan insurance.

Britain's biggest mortgage lender said the new charge will be reflected in the bank's first quarter results to be announced at the end of April.

The latest provision comes after Britain's financial watchdog last week pushed back by a few months the length of time that consumers have to claim compensation until August 29, 2019. ($1 = 0.8230 pounds) (Reporting By Andrew MacAskill, editing by Anjuli Davies)

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