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Responding to figures released by City watchdog the Financial Conduct Authority, (FCA), that show Barclays as the UK's most complained about bank, Ashok Vaswani, Chief Executive of Barclays Retail and Business Banking, said his bank was "striving to do better."
Though complaints were down by 11%, the bank received 370,733 complaints in the first half of 2013. Mr Vaswani said:
The five most complained about banks and financial services firms received a total of 1.3 million complaints in the first half of 2013, according to City watchdog the FCA.
The FCA collects information by firm, not by banking group.
Barclays was the most complained about bank but Lloyds Banking Group, incorporating Lloyds Bank and Bank of Scotland would be the most complained about group, if the the FCA evaluated complaints received on a group level.
- Barclays Bank Plc opened 370,733 complaints, (down 11% from the last six months of 2102) 62% of which were upheld
- Lloyds TSB Bank opened 253,735 complaints, (down 27%) 62% of which were upheld
- MBNA opened 237,103 complaints, (down 12%) 36% of which were upheld
- Bank of Scotland opened 222,249 complaints, (down 34%) 45% of which were upheld by the firm
- Santander UK Plc opened 198, 736 complaints, (down 34%) 43% of which were upheld.
Banks and financial services firms paid out £2.55 billion to customers in redress payments in the first half of 2013, new figures from City watchdog the Financial Conduct Authority (FCA) reveals.
Consumer complaints reported by financial services firms fell by 500,000 between the second half of 2012 and the first half of 2013.
- 2.9 complaints were made in the first half of 2013, compared with 3.4 million in the previous six months
- 51% of complaints reported in the first half of 2013 were upheld, with a £2.55 billion of redress paid to consumers