Al-Sisi holds talks with US, Chinese energy giants on Egypt expansion plans    CBE Governor emphasizes ongoing coordination between monetary, fiscal policies    Gold prices hold steady in Egypt despite stronger EGP: Metals Division    Ministers of Egypt، Slovakia sign MoU on environmental protection، climate change    Pakistan's PM to attend Sharm El-Sheikh peace summit on Gaza    Sisi, Trump to lead Sharm El-Sheikh Summit for Peace for Gaza peace push on Oct. 13    Egypt's FM holds talks with global counterparts ahead of Sharm El-Sheikh peace summit    Egypt extends heartfelt condolences to Qatar after tragic road accident in Sharm El-Sheikh    EGX starts week in green, main index flat on Oct. 12    S&P upgrades Egypt to 'B', citing reform gains, stronger growth outlook    Egypt's Sisi warns against unilateral Nile actions, calls for global water cooperation    Egypt unearths one of largest New Kingdom Fortresses in North Sinai    Al-Sisi, Cypriot president discuss Gaza ceasefire deal, bilateral cooperation    Egypt's Health Minister showcases Women's Health Initiative at Berlin Innovation Forum    Trump declares 100% tariffs on China, sending global markets tumbling    Egypt unearths New Kingdom military fortress on Horus's Way in Sinai    Egypt reconstitutes board of State Information Service    Egypt Writes Calm Anew: How Cairo Engineered the Ceasefire in Gaza    URGENT: Egypt's annual core inflation hits 11.3% in Sept – CBE    Egypt's acting environment minister heads to Abu Dhabi for IUCN Global Nature Summit    Egyptian Open Amateur Golf Championship 2025 to see record participation    Cairo's Al-Fustat Hills Park nears completion as Middle East's largest green hub – PM    Egypt's Cabinet approves decree featuring Queen Margaret, Edinburgh Napier campuses    El-Sisi boosts teachers' pay, pushes for AI, digital learning overhaul in Egypt's schools    Egypt's Sisi congratulates Khaled El-Enany on landslide UNESCO director-general election win    Syria releases preliminary results of first post-Assad parliament vote    Karnak's hidden origins: Study reveals Egypt's great temple rose from ancient Nile island    Egypt resolves dispute between top African sports bodies ahead of 2027 African Games    Egypt's Al-Sisi commemorates October War, discusses national security with top brass    Egypt reviews Nile water inflows as minister warns of impact of encroachments on Rosetta Branch    Egypt's ministry of housing hails Arab Contractors for 5 ENR global project awards    A Timeless Canvas: Forever Is Now Returns to the Pyramids of Giza    Egypt aims to reclaim global golf standing with new major tournaments: Omar Hisham    Egypt to host men's, juniors' and ladies' open golf championships in October    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Russia says it's in sync with US, China, Pakistan on Taliban    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Complaints about UK financial institutions surge
Published in Amwal Al Ghad on 29 - 02 - 2012

UK Financial Ombudsman body showed on Tuesday that complaints from customers dissatisfied with their financial institutions increased by 41% on the year before. Lloyds received the most complaints among UK financial companies in the second-half of last year. The Ombudsman said the various operations within the Lloyds Banking Group (LLOY.L) - including the likes of Bank of Scotland and Halifax - got 20,310 complaints from July to December last year. Barclays (BARC.L) got more than 11,500 complaints; MBNA Europe got 9,185 complaints while various operations run by rival part-nationalized lender Royal Bank of Scotland (RBS.L) got more than 6,000 complaints.
Most of the complaints were related to the mis-selling of payment protection insurance policies, which led Lloyds to take a 3.2 billion pound provision charge last year to cover having to compensate customers who were mis-sold those products, Reuters reported.
These policies were typically taken out alongside a personal loan or mortgage to cover repayment if the borrower was unable to pay due to unemployment, sickness or accident.
But they were often mis-sold to the self-employed or unemployed people who would not have been able to claim, and were also mis-sold to consumers who did not realize they were taking out such a policy.
Lloyds said it had managed to reduce the number of complaints it had received in 2011 by 24% from a year ago and continued to work hard to improve customer service.
Britain owns 40% of Lloyds and 82% of RBS after bailing out both banks during the 2008 credit crisis.
Amwal Al Ghad


Clic here to read the story from its source.