Lloyds Warns It Will Likely Take Fresh Car Finance Provision

Lloyds Banking Group Plc said it will likely have to set aside an additional provision to compensate customers who were missold car loans after the UK’s finance watchdog kickstarted a redress program.

The amount may be material, Lloyds said in a filing on Thursday. Lloyds has already set aside £1.15 billion ($1.54 billion) to cover costs tied to the refunds.