Barclays has set aside an extra £170 million to cover payment protection insurance (PPI) mis-selling claims, the bank has revealed in its financial figures today.

It takes Barclays' overall provision to £5.02 billion and follows an additional £900 million set aside by the bank in July (see the Barclays' PPI bill climbs to £4.85 billion MSE News story).

Figures from the bank's Interim Management Statement show that it paid out £291 million during July, August and September this year, while there is still £1.2 billion yet to be claimed (see our PPI guide on how to reclaim for free).

Barclays has also set aside £500 million over the alleged rigging of foreign exchange (forex) markets, which is being probed by regulators around the world.

Earlier this week Lloyds Banking Group announced it had set aside a further £900 million to cover PPI mis-selling claims, taking its overall provision to more than £11 billion (see the Lloyds PPI claims pot raised to £11 billion as payouts soar MSE News story).

According to the latest statistics from the Financial Conduct Authority, £16.3 billion has been paid out since January 2011 by the firms that make up the vast majority of PPI complaints.

A total of £383.2 million was paid during July to customers who complained about the way they were sold PPI.

Barclays also announced a 4% rise in pre-tax profits, to £1.22 billion, for the third quarter.

Additional reporting by the Press Association.

Martin Lewis
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