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FOS receives fewer complaints from Lloyds Banking Group customers over last year.

BANKING AND CREDIT NEWS-September 3, 2014-FOS receives fewer complaints from Lloyds Banking Group customers over last year

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British government backed lender Lloyds Banking Group on Tuesday confirmed that over the last year the Financial Ombudsman Service (FOS) has seen a 52% reduction in complaints received from customers of Lloyds Banking Group, with a 27% decline in the last six months.

Figures indicate that complaints to the Ombudsman regarding the Group's brands are dropping at a faster rate than any other major bank. Excluding PPI related complaints, around 70% of the Group's decisions are upheld when referred to FOS.

Martin Dodd, Group customer service director, commented "On a like for like basis, we continue to receive fewer banking complaints than any other major bank. The significant reduction in the number of referrals to the Ombudsman is encouraging, as it is testament to the improved experience that our customers are receiving. We know that there is still work to do, and that some wider industry issues have impacted our customers in the first six months of the year. However, we continue to work with FOS to make sure that our customers are get the right outcomes".

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Publication:M2 Banking & Credit News (BCN)
Date:Sep 3, 2014
Words:213
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