Bank posts nine-month loss of £3.9bn

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Lloyds Banking Group made a £3.9bn pre-tax loss for the first nine months of 2011 as it continued to feel the effects of the £3.2bn provision it set aside settling payment protection insurance (PPI) claims.

Lloyds took the £3.2bn PPI charge in the first quarter of 2011.

PPI complaints dropped 66% to 19,259 in the third quarter of 2010 from 56,025 in the second quarter, according to recent figures from the Financial Ombudsman Service.

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