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Lloyds Banking Group PLC 2019 profit was slashed by roughly a third largely due to significantly higher provisions for miss-sold payment protection insurance, but the bank suggested there are no further surprises to come.
The British bank's total PPI bill for the year of £2.45 billion saw its statutory profit after tax fall to £3.01 billion from £4.51 billion year over year, with statutory return on tangible equity declining to 7.8% from 11.7%. Lloyds set...