Complaints8 Sep 2020 08:47
The complaints provision includes a combination of estimated redress for known cases and an allowance for future claims. £8.5m of the provision was utilised in the quarter, representing redress, of which around half was settled with cash and the remaining half in balance adjustments. An incremental cost of £6.8m has been recognised in the income statement. The remaining provision on the balance sheet as at 30 June 2020 is £116.4m.
Plenty put aside for complaints too... bring it on :-)