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Lloyds Banking Group has said it has put aside another £460m in costs for payment protection insurance (PPI) mis-selling claims.

That means it has now allocated more than £19.2bn to settle the claims. The bank said it expected 13,000 PPI complaints a week until August 2019.

The provision came as Lloyds said its profits for the first six months of the year rose by nearly a quarter.

It made pre-tax profits of £3.1bn, 23% higher than the same time last year.

Chief executive António Horta-Osório said: "We have delivered another strong and sustainable financial performance with increased statutory profits, higher returns and a strong capital build."

Lloyds said the latest PPI charge was "largely driven by a potentially higher total volume of complaints and associated administration costs due to higher reactive complaint volumes received over the past six months and ongoing volatility".

It added: "The remaining provision is consistent with an average of approximately 13,000 complaints per week through to the industry deadline of the end of August 2019."

It stated that every extra 1,000 complaints a week above that level would cost it another £150m.

The bank said it had sold an estimated 16 million PPI policies since 2000, including policies that were not mis-sold and those that had been successfully claimed upon.

It has already dealt with about 53% of those policies.

Lloyds said it was committed to maintaining the UK's largest network of branches, despite its announcement of 49 branch closures in April.

It said it also had the largest digital bank in the UK, with active users increasing to almost 14 million, including about 10 million mobile banking users.

Lloyds said its balance sheet remained strong, with its common equity tier one capital ratio increasing to 15.1% pre-dividend.

It said it would pay an interim dividend of 1.07 pence a share.

The government sold its last shares in Lloyds in May 2017, eight years after pumping in £20bn to save it.

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