By Max Colchester

Lloyds Banking Group PLC Friday said it had taken an extra 350 million pound ($426 million) provision to cover future payouts to customers sold insurance products they didn't need.

The provision came after a U.K. regulator extended a deadline for claims until August 2019.

The bank's total provision for payment protection insurance stands at GBP17 billion.

Write to Max Colchester at max.colchester@wsj.com

(END) Dow Jones Newswires

March 10, 2017 09:28 ET (14:28 GMT)

Copyright (c) 2017 Dow Jones & Company, Inc.
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