Barclays complaints fall by a quarter in first half of 2014
LONDON (Reuters) - Customer complaints at Barclays fell by a quarter in the first half of 2014, the bank said on Friday, led by a decline in cases relating to the mis-selling of loan insurance.
The bank said total complaints fell 26 percent year-on-year, dropping to 284,000 from a global customer base of 48 million. That included a 37 percent reduction in complaints about insurance to 183,000, the vast majority of which relate to payment protection insurance (PPI) sold in the UK.
British banks have so far set aside 22 billion pounds to compensate customers mis-sold PPI.
The policies were supposed to protect borrowers against sickness or redundancy but were often sold to those who would be ineligible to claim.
(Reporting by Matt Scuffham; Editing by Laura Noonan)
