Lloyds Bank says it has set an extra £1.8bn aside for payouts to victims of PPI mis-selling, bringing total provisions to £9.83bn

Lloyds Banking Group's bill for PPI mis-selling claims has climbed close to £10bn after the lender set aside an extra £1.8bn to deal with compensation.The bank, which is one-third state controlled, has already spent more than £8bn compensating victims of PPI mis-selling, by far the largest provision made by any British bank. In addition, Lloyds said it had put aside a further £130m to cover the cost of compensation payments to SMEs mis-sold interest rate hedging products. This takes its total charge for £530m. It nonetheless expects to post a "small" statutory profit for the year, and said its 2013 underlying profit would more than double to hit £6.2bn - higher than analysts had expected......Read more here