Barclays Expects to Increase PPI Redress Provisions
September 09 2019 - 12:14PM
Dow Jones News
By Adriano Marchese
Barclays PLC (BARC.LN) said Monday that it expects to increase
its provisions for payment protection insurance redress in its
third-quarter results.
The bank said it now expects to increase the provisions by
between 1.2 billion pounds ($1.47 billion) and GBP1.6 billion due
to a significantly higher than expected volume of PPI-related
claims.
It said that the final outcome could be above or below the
estimated range, and will depend on a number of factors including
quality of claims.
Barclays said it expects to be at the group's target CET1 ratio
of around 13% at year-end.
Write to Adriano Marchese at adriano.marchese@dowjones.com
(END) Dow Jones Newswires
September 09, 2019 11:59 ET (15:59 GMT)
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