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... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...

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