Belmont Thornton Logo
PPI Claims - About PPI

PPI Claim News

 
PPI claims pull Co-op profits down

The Co-operative Banking Group has revealed the number of payment protection insurance (PPI) claims it has received so far in 2012 has risen.

In its interim results, it pointed out that the rising number of PPI refunds it is dealing with is seen in many of its competitors.

While the bank's revenue increased by 3.9 per cent over the year to reach £1 billion, when PPI reclaim provisions are taken into account, it actually fell by 1.1 per cent.

Furthermore, compensating people affected by the scandal also caused its operating profit to drop 67.9 per cent to reach £36.9 million.

The Scotsman reports that chief executive of the lender Peter Marks expressed remorse for the firm's involvement in the PPI scandal.

"If we could turn the clock back, we would not have done it," he said, admitting that the enterprise is "not perfect".

"We are not just about maximising profit. We have social and ethical goals," he stated.

Samantha Clarke
Samantha is a former banking assistant and has over ten years experience in retail banking.ADNFCR-2776-ID-801435909-ADNFCR



Bookmark and Share
Tell a Friend
blog comments powered by Disqus

Enquiry Form

First Name 
Last Name 
Mobile Phone
Home Phone
Address Line 1 
Town
County
Post Code 
Email 
Circumstances
Claim Back Mis-Sold PPI Button

Belmont Thornton Limited is regulated by the Claims Management Regulator in respect of regulated claims management activities; our registration is recorded on the website www.gov.uk/moj/cmr number 18273

Belmont Thornton Limited is incorporated in England and Wales, Company number 6621233, whose head office at Unit B16, Kestrel Court, Harbour Road, Portishead, Bristol, BS20 7AN and registered office at Harwood House, 43 Harwood Road, London, SW6 4QP.

Belmont Thornton Limited is registered with the Information Commissioners Office. Registration number Z1728023.

Please note that calls may be monitored for the purposes of staff training.

* Belmont Thornton operates on a "No Win No Fee" basis. This means that there are no upfront costs to pay. Our fee only becomes payable on a successful outcome of a claim. A cancellation fee is payable if you decide that having instructed Belmont Thornton to act on your behalf, and after 14 days of signing your Letter of Authority, you do not wish to continue pursuing your claim with us. The cancellation fee is the reasonable costs incurred for the work undertaken. Please see our terms of engagement.

By using our web-site, you agree that we can place the types of cookies described in our privacy policy on your device.Hide