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The owner of Clydesdale and Yorkshire banks is setting aside another £350m to handle tens of thousands of unexpected claims for mis-sold payment protection insurance (PPI).

The announcement by CYBG came after the group saw the number of claims surge to 59,000 in the six months to 31 March.

CYBG said it anticipated another 110,000 by the complaints deadline set for August next year.

The lender's share price fell by about 6% in early trading on Wednesday.


BBC News

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