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Barclays May Set Aside $1.8 Billion for PPI Claims, Sky Reports
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Barclays Plc may set aside about 1.1 billion pounds ($1.8 billion) as provision for the compensation of customers who were improperly sold payment protection insurance policies, Sky News reported, citing people close to the bank.
The U.K. lender is expected to disclose the provision in a statement tomorrow or on May 10 and may follow Lloyds Banking Group Plc in deciding not to appeal a U.K. industry-wide court ruling on PPI claims, Sky reported.