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Santander U.K. Set Aside $1.2 Billion on PPI Last Year

(Corrects to show the provision was for the first half of 2011.)

Aug. 31 (Bloomberg) -- Santander U.K. set aside 731 million pounds ($1.2 billion) for customer remediation in the first half of 2011, “principally” in relation to the mis-selling of payment protection insurance, the firm said in a statement today.

Link to Statement:{NSN M9LWQ93HHEDC <GO>}

Link to Company News:{SAN SM <Equity> CN <GO>}

To contact the reporter on this story: Gavin Finch in London at

To contact the editor responsible for this story: Keith Campbell at

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