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Co-operative Bank sees surge in PPI complaints ahead of deadline

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Co-operative Bank sees surge in PPI complaints ahead of deadline

Co-operative Bank PLC said it received a "substantially greater volume" of inquiries and complaints related to mis-sold payment protection insurance ahead of the deadline.

It is assessing the impact of the higher volumes on both operational processing and redress costs. The bank said an initial estimate of the impact of the complaints will be provided in due course of time.

The bank has made a total provision of £537.8 million for PPI claims.