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.
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