THE bill for mis-sold insurance at Lloyds rose to nearly [pounds]10bn yesterday after the taxpayer-backed bank admitted it is expecting another 550,000 complaints. The latest provision to cover the cost of compensating customers mis-sold payment protection insurance was much greater than expected at [pounds]1.8bn. However, Lloyds sought to highlight its return to health by forecasting a small profit in full-year results on February 13 and offering guidance on the steps it is taking towards dividend payments and the sale of the Government's stake. Chief executive Antonio Horta-Osorio , who has overseen a 70 per cent rise in the company's share price in the last 12 months, said the business had been reshaped, simplified and strengthened over the past three years. But the bank's new provision on PPI is far higher than the additional [pounds]465m revealed last week by fellow statebacked lender Royal Bank of Scotland , a move that took its total to [pounds]3.1bn. The bill for the whole industry is now more than [pounds]20bn.
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