Bloomberg News

Barclays Tops FSA Complaints List for U.K. Banking Customers

September 28, 2011

Sept. 28 (Bloomberg) -- Barclays Plc, the U.K.’s second- largest bank by assets, received more consumer banking complaints than any other lender in the first half of 2011, according to data compiled by the U.K. Financial Services Authority.

Barclays received 162,611 banking complaints, resolving 95 percent of them within eight weeks, the FSA said. Santander U.K. Plc was second with 139,386 complaints, and Lloyds Banking Group Plc, Britain’s biggest mortgage lender, racked up the most insurance complaints with 111,897. The overall number of consumer protests rose 3 percent.

Complaints against banks will continue to rise, Paul Clark, chief executive officer of complaints management firm Charter U.K., said, because they face “payment protection insurance mis-selling, regulatory changes to complaints handling and the FSA’s tougher stance on overall financial regulation.”

The British Bankers’ Association, an industry group, lost a court challenge in April to the FSA’s payment protection insurance guidelines. The improper sales of PPI are “likely to lead to a redress of 9 billion” pounds ($14 billion) Hector Sants, chief executive of the FSA, said in June.

London-based Barclays said that customer service is a priority for the bank.

“Delivering excellent service to our customers is our goal every single day, in every single way a customer interacts with us,” Antony Jenkins, CEO of Barclays Retail said in an e-mailed statement. “When we do get it wrong, we apologize, try to correct it quickly and identify how to prevent it from reoccurring.”

--Editors: Anthony Aarons

To contact the reporter on this story: Ben Moshinsky in London at bmoshinsky@bloomberg.net

To contact the editor responsible for this story: Anthony Aarons at aaarons@bloomberg.net


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