Companies  

Lloyds Bank tops customer complaints list

The latest figures from Fos show it took on a record 575,836 new cases in total in 2013 – an increase of over a third on 2012.

PPI complaints in the second half of the year were responsible for the lion’s share of new customer gripes at 76 per cent and just five firms accounted for 68 per cent of these.

Lloyds Bank and Bank of Scotland suffered 36,954 and 35,500 new PPI complaints respectively while Barclays Bank saw 31,717 customers lodge new complaints in the second half of 2013.

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Tony Boorman, chief ombudsman, said: “The extraordinary volumes of financial complaints we saw in 2013 now looks as if they’re starting to level off at last – and that has to be welcome news for everyone.

“But we’re still a long way from being able to say that PPI is sorted once and for all. The numbers of new cases are still depressingly high.”

The average uphold rate where the ombudsman found in the consumer’s favour over the six month period was 51 per cent.

Jonathan Harris, director of mortgage broker Anderson Harris, said the biggest banks still have plenty to do to address the problems customers face.

And he added: “There is no room for complacency with new providers snapping at their heels and keen to pick up those customers who become disillusioned with shoddy service.”

Rob Killeen, director of London-based Capital Fortune, said the record number of complaints should be seen as an opportunity to improve standards.

“Complaints are the real litmus test for accountability,” he said.

Total number of new casesMortgages and home financeGeneral insurance excluding PPIPPIInvestmentsLife & pensions and decumulation
Lloyds Bank PLC4050013223136954184135
Bank of Scotland Plc3913411262843550076145
Barclays Bank Plc3650638332731717153144
MBNA Limited155270621493200
HSBC Bank plc15286173496128388341
National Westminster Bank Plc87232299955755922
Santander UK Plc8389969217471290129
Capital One (Europe) plc767307739000
The Royal Bank of Scotland Plc76561727862984126
Nationwide Building Society64363247552654134
Source: FOS