Bank received 122,992 complaints in the second half of the year
Barclays received 122,992 payment protection insurance (PPI) complaints in the second half of 2011, up 67% on the 73,692 it received in the first half of the year.
PPI complaints for the full 2011 year were up 101% to 196,684 (full-year 2010: 97,190).
Barclays described the PPI complaints surge as a “significant exception” to the complaints trends elsewhere in the bank. Excluding PPI, complaints volumes fell 11% in the second half of 2011 to 158,492 (H1 2010: 177,871).
Following the dismissal of the British Bankers’ Association judicial review proceedings against the FSA and Financial Ombudsman service last year over PPI, Barclays agreed to process all on-hold and any new complaints from customers about PPI policies that they hold.
As a goodwill gesture, Barclays also agreed to pay out compensation to customers who had PPI complaints put on hold during the judicial review. Barclays put aside £1bn last year to cover future PPI complaint redress.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
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