Barclays to pay out all PPI claims - papers

Barclays will pay out compensation to all customers it sold payment protection insurance (PPI) who made a complaint before 20 April.

The bank said it was the first to pay out PPI compensation on a "no-quibble" basis and will reimburse customers the total value of all premiums plus 8% interest, the BBC reports. MORE here

Britain’s major banks are on course to beat lending targets set in a government peace deal this year, despite concerns from senior politicians that loan volumes are too low, the Financial Times reports.

The secret numbers - dubbed "stretch targets" - are around 10% below the official "capacity targets" published in the Merlin announcement and put the banks on target to beat the overall corporate lending goal by 13% and to all but hit the figure for lending to small and medium enterprises. MORE here

Barclays has drawn up new employment contracts for retail branch staff and assessed the leases on all the bank's UK branches to begin the legal work to transfer them to a new operating company, should the government accept the likely recommendation of the Independent Commission on Banking to order the ring-fencing of British depositors' money, the Telegraph reports. MORE here

Lloyds Banking Group is set to cut up to 15,000 more jobs as part of a £1bn cost savings plan, bringing total job losses to 43,000, the Scotsman reports.

Hundreds of jobs are likely to go at the bank's head office in London, while the rest of the cuts will be split between its other regional bases and what remains of the bank's international operations. MOREhere