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PPI claim: High bank fees 'unjustified' alongside high-profits

UK consumers should not be charged high bank fees while banks register such large profits, it has been claimed.

Several major UK banks have recently announced substantial profits in their interim results.

HSBC revealed that pre-tax profit more than doubled to £6.98 billion in the first half of 2010 compared to the same period last year, while Lloyds also announced profits of £1.6 billion.

Louise Holmes, spokesperson at, expressed her belief that banks may be earning such large profits by overcharging customers.

She said: "Charging customers high fees and charges can never be seen as a good thing, and certainly cannot be justified alongside high profit announcements.

"Some customers may speculate that hefty profits are a result of reaping charges from consumers."

Ms Holmes added that banks should not declare any large bonuses to avoid a public backlash.

Banker bonuses are set to rise by £2 billion this year, according to figures from the Office of National Statistics.

Posted by Amir Hussain

Amir specialises in personal loans, consumer debt and debt managementADNFCR-2776-ID-800020253-ADNFCR

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