UK's Secure Trust raises motor finance mis-selling charge to $28 million
20/10/2025 07:26
Oct 20 (Reuters) - Britain's Secure Trust Bank STBS.L on Monday said it would need provisions of about 21 million pounds ($28.2 million) for compensating customers of the motor financing mis-selling scandal, roughly 16 million pounds higher than its previous projection. The increase in provisions would reduce Secure Trust's CET1 ratio - a closely watched measure of spare cash at banks - by about 50 basis points to 12.8%, the company added. ($1 = 0.7447 pounds) (Reporting by Ankita Bora in Bengaluru; Editing by Harikrishnan Nair) ((Ankita.Bora@thomsonreuters.com;))