NAB adds £245m to mis-selling bill

NATIONAL Australia Bank, the owner of Yorkshire and Clydesdale Banks, has warned it will need to set aside a further £245m relating to the mis-selling of payment protection insurance and interest rate swaps by its UK operations.

In a third quarter statement it said £75m related to the increased costs of administering the PPI compensation programme and £170m is associated with the sale of interest rate hedging products.

The bank said the eventual bill could be higher, stressing there were a "wide range of un... For the full story register now for free or login below...